Summary
KOBAG has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €53,723 and a net result of €1,907. Equity is shrinking by about 7.8% per year across the filed financial years. Its solvency ranks better than 40% of 38,834 sector peers (NACE 70, financial year 2025). The company has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€53,723▲ 3.7%
2024 · €51,816
Total assets
€123,116▲ 8.5%
2024 · €113,492
Net result
€1,907
2024 · -€21,249
Working capital
-€47,277▲ 4.0%
2024 · -€49,230
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result returns to profit in 2025: €2,583 after a loss of €20,608 in 2024, the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€2,583
2025
Net result€1,907
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€123,116
2025
Equity€53,723
2025
Debt€69,393
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€47,277
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)1.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency43.6%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.31
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)1
2023
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€29,118-€53,862▲ 85.0%€59,380▲ 10.2%-€6,059-€6,784▼ 12.0%-€18,088▼ 167%-€20,608▼ 13.9%€2,583
Net result€14,060-€35,334▲ 151%€41,035within the sector's middle half▲ 16.1%-€6,255below the sector's middle half-€7,666below the sector's middle half▼ 22.6%-€18,617below the sector's middle half▼ 143%-€21,249below the sector's middle half▼ 14.1%€1,907below the sector's middle half
Equity€45,833-€80,367▲ 75.3%€105,603within the sector's middle half▲ 31.4%€99,348within the sector's middle half▼ 5.9%€91,682within the sector's middle half▼ 7.7%€73,065within the sector's middle half▼ 20.3%€51,816within the sector's middle half▼ 29.1%€53,723within the sector's middle half▲ 3.7%
Total assets€200,165-€284,886▲ 42.3%€243,249within the sector's middle half▼ 14.6%€144,488within the sector's middle half▼ 40.6%€144,733within the sector's middle half▲ 0.2%€123,479within the sector's middle half▼ 14.7%€113,492within the sector's middle half▼ 8.1%€123,116within the sector's middle half▲ 8.5%
Debt€154,331-€204,519▲ 32.5%€137,646▼ 32.7%€45,141▼ 67.2%€53,051▲ 17.5%€50,414▼ 5.0%€61,677▲ 22.3%€69,393▲ 12.5%
Working capital-€27,352--€138,872▼ 408%-€51,421below the sector's middle half▲ 63.0%-€1,462below the sector's middle half▲ 97.2%-€11,844below the sector's middle half▼ 710%-€28,410below the sector's middle half▼ 140%-€49,230below the sector's middle half▼ 73.3%-€47,277below the sector's middle half▲ 4.0%
Solvency22.9%-28.2%▲ 5.3pp43.4%within the sector's middle half▲ 15.2pp68.8%within the sector's middle half▲ 25.3pp63.3%within the sector's middle half▼ 5.4pp59.2%within the sector's middle half▼ 4.2pp45.7%within the sector's middle half▼ 13.5pp43.6%within the sector's middle half▼ 2.0pp
Current ratio0.73-0.19▼ 0.530.56below the sector's middle half▲ 0.370.96below the sector's middle half▲ 0.400.77below the sector's middle half▼ 0.190.42below the sector's middle half▼ 0.350.19below the sector's middle half▼ 0.240.31below the sector's middle half▲ 0.12
Return on assets (ROA)7.0%-12.4%▲ 5.4pp16.9%within the sector's middle half▲ 4.5pp-4.3%below the sector's middle half▼ 21.2pp-5.3%below the sector's middle half▼ 1.0pp-15.1%below the sector's middle half▼ 9.8pp-18.7%below the sector's middle half▼ 3.6pp1.5%below the sector's middle half▲ 20.3pp
Staff (FTE)0.8-0.8=0.81▲ 25.0%1=
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €123,116
Fixed assets
€102,011 =
Current assets
€21,105 ▲ 84.6%
Equity and liabilities €123,116
Equity
€53,723 ▲ 3.7%
Debt
€69,393 ▲ 12.5%
Debt's share of the balance-sheet total rises from 54.3% to 56.4%. Equity and debt are higher.
Key figures and ratios
ROE
3.5%▲
2024 · -41.0%
Debt ≤ 1 year
€68,382▲
2024 · €60,665
Income taxes
€493▲
2024 · €469
Staff costs
-€119▼
2024 · €10,950
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €17,510 | €26,445 | €10,950 | -€119 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,949 | €28,952 | €13,844 | €2,908 | €2,050 | €2,051 | €429 | €46 | ▼ 89.2% |
| Other operating charges640/8 | - | - | - | - | €854 | €1,480 | €1,266 | €1,361 | ▲ 7.5% |
| Gross operating margin9900 | €67,005 | €114,922 | €82,190 | €2,317 | €13,629 | €11,888 | -€7,964 | €3,871 | - |
| Operating profit (loss)9901 | €29,118 | €53,862 | €59,380 | -€6,059 | -€6,784 | -€18,088 | -€20,608 | €2,583 | - |
| Financial income75/76B | - | - | - | - | €0 | €0 | €0 | €10 | - |
| Recurring financial income75 | €0 | €361 | €1,176 | €1,176 | €0 | €0 | €0 | €10 | - |
| Financial charges65/66B | - | - | - | - | €390 | €68 | €172 | €193 | ▲ 12.5% |
| Recurring financial charges65 | €2,371 | €2,096 | €2,864 | €1,041 | €390 | €68 | €172 | €193 | ▲ 12.5% |
| Profit (loss) for the period before taxes9903 | €26,747 | €52,126 | €57,692 | -€5,924 | -€7,175 | -€18,156 | -€20,780 | €2,399 | - |
| Income taxes67/77 | €12,687 | €16,792 | €16,656 | €331 | €492 | €461 | €469 | €493 | ▲ 5.0% |
| Profit (loss) for the period9904 | €14,060 | €35,334 | €41,035 | -€6,255 | -€7,666 | -€18,617 | -€21,249 | €1,907 | - |
| Profit (loss) for the period to be appropriated9905 | €14,060 | €35,334 | €41,035 | -€6,255 | -€7,666 | -€18,617 | -€21,249 | €1,907 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €200,165 | €284,886 | €243,249 | €144,488 | €144,733 | €123,479 | €113,492 | €123,116 | ▲ 8.5% |
| Fixed assets21/28 | €127,705 | €251,680 | €178,332 | €106,587 | €104,537 | €102,486 | €102,057 | €102,011 | = |
| Tangible fixed assets22/27 | €25,832 | €79,808 | €6,459 | €4,715 | €2,664 | €613 | €185 | €139 | ▼ 25.0% |
| Plant, machinery and equipment23 | - | - | - | - | €277 | €231 | €185 | €139 | ▼ 25.0% |
| Furniture and vehicles24 | - | - | - | - | €2,387 | €382 | €0 | - | - |
| Financial fixed assets28 | €101,872 | €171,872 | €171,872 | €101,872 | €101,872 | €101,872 | €101,872 | €101,872 | = |
| Current assets29/58 | €72,460 | €33,206 | €64,917 | €37,902 | €40,196 | €20,993 | €11,435 | €21,105 | ▲ 84.6% |
| Amounts receivable within one year40/41 | €26,176 | €17,485 | €51 | €21,384 | €29,227 | €17,270 | €8,352 | €2,480 | ▼ 70.3% |
| Trade receivables40 | - | - | - | - | €17,359 | €16,117 | €7,538 | €2,366 | ▼ 68.6% |
| Other amounts receivable41 | - | - | - | - | €11,867 | €1,153 | €814 | €114 | ▼ 85.9% |
| Cash at bank and in hand54/58 | €45,422 | €11,874 | €48,479 | €4,152 | €6,410 | €1,234 | €1,258 | €18,152 | ▲ 1,342% |
| Deferred charges and accrued income490/1 | - | - | - | - | €4,560 | €2,489 | €1,825 | €474 | ▼ 74.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €200,165 | €284,886 | €243,249 | €144,488 | €144,733 | €123,479 | €113,492 | €123,116 | ▲ 8.5% |
| Equity10/15 | €45,833 | €80,367 | €105,603 | €99,348 | €91,682 | €73,065 | €51,816 | €53,723 | ▲ 3.7% |
| Contributions10/11 | €6,200 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €39,486 | €73,886 | €98,886 | €92,886 | €92,886 | €78,226 | €78,226 | €78,226 | = |
| Non-distributable reserves130/1 | - | - | - | - | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | - | €91,026 | €78,226 | €78,226 | €78,226 | = |
| Profit (loss) carried forward14 | €147 | €281 | €517 | €262 | -€7,404 | -€11,361 | -€32,610 | -€30,703 | ▲ 5.8% |
| Amounts payable17/49 | €154,331 | €204,519 | €137,646 | €45,141 | €53,051 | €50,414 | €61,677 | €69,393 | ▲ 12.5% |
| Amounts payable after more than one year17 | €54,520 | €32,441 | €18,797 | €4,765 | €0 | - | - | - | - |
| Financial debts170/4 | - | - | - | - | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €99,812 | €172,079 | €116,338 | €39,364 | €52,040 | €49,403 | €60,665 | €68,382 | ▲ 12.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0 | - | - | - | - |
| Financial debts43 | - | - | - | - | €69 | €437 | €20 | €21 | ▲ 5.0% |
| Credit institutions430/8 | - | - | - | - | €69 | €437 | €20 | €21 | ▲ 5.0% |
| Trade debts44 | €36,446 | €92,507 | €18,958 | €1,775 | €842 | €3,592 | €2,842 | €547 | ▼ 80.8% |
| Suppliers440/4 | - | - | - | - | €842 | €3,592 | €2,842 | €547 | ▼ 80.8% |
| Taxes, remuneration and social security45 | - | - | - | - | €6,239 | €8,625 | €0 | €2,423 | - |
| Taxes450/3 | - | - | - | - | €916 | €1,303 | €0 | €2,423 | - |
| Remuneration and social security454/9 | - | - | - | - | €5,323 | €7,322 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | - | €44,890 | €36,749 | €57,804 | €65,392 | ▲ 13.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,011 | €1,011 | €1,011 | €1,011 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,060 | €35,334 | €41,035 | -€6,255 | -€7,666 | -€18,617 | -€21,249 | €1,907 | - |
| + Depreciation and write-downs630 | €11,949 | €28,952 | €13,844 | €2,908 | €2,050 | €2,051 | €429 | €46 | ▼ 89.2% |
| Operating cash flow (approximation) | €26,009 | €64,286 | €54,880 | -€3,347 | -€5,616 | -€16,566 | -€20,820 | €1,953 | - |
| Investment in fixed assets (approximation) | - | -€152,928 | €59,504 | €68,837 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€33,548 | €36,605 | -€44,328 | €2,258 | -€5,175 | €24 | €16,893 | ▲ 70,113% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 14 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 04-05-2026 | 2026-00103119 |
| 31-12-2024 | micro format | 18-08-2025 | 2025-00379370 |
| 31-12-2023 | micro format | 22-08-2024 | 2024-00358483 |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00172225 |
| 31-12-2021 | micro format | 31-03-2022 | 2022-09600098 |
| 31-12-2020 | micro format | 23-08-2021 | 2021-51700133 |
| 31-12-2019 | micro format | 25-08-2020 | 2020-44300369 |
| 31-12-2018 | micro format | 26-08-2019 | 2019-50400452 |
| 31-12-2017 | micro format | 19-07-2018 | 2018-35200405 |
| 31-12-2016 | micro format | 20-07-2017 | 2017-33600552 |
Similar companies · same sector, comparable size
AMAKER
BE 1012.733.646
Knokke-Heist · equity €53,728
FH Management
BE 0835.683.308
Geraardsbergen · equity €53,730
J.A STRATEGIES
BE 1000.538.172
Brugelette · equity €53,732
Geert Van Mol Bedrijfsrevisor
BE 1013.789.263
Lochristi · equity €53,711
SMART BIZZNESS CONCEPTS
BE 0832.666.905
Kortrijk · equity €53,710
Of the 82,258 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 53,856. 39,479 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.