S.A. COQUELETS
ActiveSummary
S.A. COQUELETS has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.7m and a net result of €443,537. Equity is growing by ~21.8% per year across the filed fiscal years. Its solvency ranks better than 38% of 4577 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+20
Solvency51▲+5
Growth66=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days acceptable
Liquidity ample (current ratio 58.08 against 81.49 in 2024; short-term debt: 0.3% and cash: 18% of total assets), but 74.1% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
25.9%
Return on assets
4.2%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-04-2026, 114 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
114 d early
2024
121 d early
2023
120 d early
2022
118 d early
2021
101 d early
2020
100 d early
2019
99 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 110 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?BELFIUS BANK · 47 companies How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, full schema
Turnover
€1.2m▲ 5.1%
2023 · €1.2m
EBIT margin
75.5%▲ 1.2pp
2023 · 74.3%
Net result
€443,537▲ 5.3%
2024 · €421,199
Working capital
€1.9m▼ 5.7%
2024 · €2.0m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€1.1m▲ 2.5%€1.2m€1.2m
Operating result€812,430▲ 3.6%€842,348▲ 3.7%€869,508▲ 3.2%€898,894▲ 3.4%€928,667▲ 3.3%
Net result€201,785▲ 11.3%€250,080▲ 23.9%€382,802▲ 53.1%€421,199▲ 10.0%€443,537▲ 5.3%
EBIT margin72.9%▲ 0.8pp74.3%75.5%
Equity€1.2m▲ 19.5%€1.5m▲ 20.2%€1.9m▲ 25.7%€2.3m▲ 22.5%€2.7m▲ 19.4%
Total assets€13.0m▲ 1.6%€10.1m▼ 22.1%€10.5m▲ 3.8%€10.9m▲ 3.8%€10.5m▼ 3.6%
Debt€11.8m=€8.7m▼ 26.5%€8.7m=€8.6m▼ 0.3%€7.8m▼ 9.7%
Working capital€3.2m▲ 18.1%€599,916▼ 81.2%€1.3m▲ 112%€2.0m▲ 55.7%€1.9m▼ 5.7%
Why a figure moved sharply
- 2023 Net result +53% on 2022. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 3% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.5m
Fixed assets
€8.6m ▼ 3.2%
Current assets
€1.9m ▼ 5.2%
Equity and liabilities €10.5m
Equity
€2.7m ▲ 19.4%
Debt
€7.8m ▼ 9.7%
Debt's share of the balance-sheet total falls from 79.0% to 74.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.2m▲
2024 · €1.2m
Cash flow
€730,752▲
2024 · €680,849
Current ratio
58.08▼
2024 · 81.49
Debt to equity
2.85▼
2024 · 3.77
ROE
16.2%▼
2024 · 18.4%
ROA
4.2%▲
2024 · 3.9%
Interest coverage
3.28▲
2024 · 2.97
Debt ≤ 1 year
€32,761▲
2024 · €24,628
Debt > 1 year
€7.7m▼
2024 · €8.5m
Income taxes
€147,846▲
2024 · €140,400
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 289 companies that looked in July 2024 the way this one looks now, 0% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
0%
went bankrupt
3.1%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 289 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €1.1m | - | €1.2m | - | €1.2m | - |
| Goods, raw materials, services and sundry goods60/61 | €14,296 | - | €13,611 | - | €13,700 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €287,215 | €287,215 | €287,215 | €259,651 | €287,215 | ▲ 10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €27,564 | - | - |
| Gross operating margin9900 | €1.1m | €1.1m | €1.2m | €1.2m | €1.2m | ▲ 2.5% |
| Operating profit (loss)9901 | €812,430 | €842,348 | €869,508 | €898,894 | €928,667 | ▲ 3.3% |
| Financial income75/76B | - | - | €30,343 | €52,864 | €33,914 | ▼ 35.8% |
| Recurring financial income75 | - | - | €30,343 | €52,864 | €33,914 | ▼ 35.8% |
| Financial charges65/66B | €543,328 | €508,639 | €389,449 | €390,160 | €371,198 | ▼ 4.9% |
| Recurring financial charges65 | €543,328 | €508,639 | €389,449 | €390,160 | €371,198 | ▼ 4.9% |
| Profit (loss) for the period before taxes9903 | €269,102 | €333,709 | €510,402 | €561,598 | €591,382 | ▲ 5.3% |
| Income taxes67/77 | €67,317 | €83,629 | €127,601 | €140,400 | €147,846 | ▲ 5.3% |
| Profit (loss) for the period9904 | €201,785 | €250,080 | €382,802 | €421,199 | €443,537 | ▲ 5.3% |
| Profit (loss) for the period to be appropriated9905 | €201,785 | €250,080 | €382,802 | €421,199 | €443,537 | ▲ 5.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13.0m | €10.1m | €10.5m | €10.9m | €10.5m | ▼ 3.6% |
| Fixed assets21/28 | €9.8m | €9.5m | €9.2m | €8.9m | €8.6m | ▼ 3.2% |
| Tangible fixed assets22/27 | €9.8m | €9.5m | €9.2m | €8.9m | €8.6m | ▼ 3.2% |
| Other tangible fixed assets26 | €9.8m | €9.5m | €9.2m | €8.9m | €8.6m | ▼ 3.2% |
| Current assets29/58 | €3.2m | €650,862 | €1.3m | €2.0m | €1.9m | ▼ 5.2% |
| Amounts receivable within one year40/41 | €11 | - | - | - | - | - |
| Other amounts receivable41 | €11 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €3.2m | €650,862 | €1.3m | €2.0m | €1.9m | ▼ 4.9% |
| Deferred charges and accrued income490/1 | - | - | €11,181 | €13,038 | €6,851 | ▼ 47.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13.0m | €10.1m | €10.5m | €10.9m | €10.5m | ▼ 3.6% |
| Equity10/15 | €1.2m | €1.5m | €1.9m | €2.3m | €2.7m | ▲ 19.4% |
| Contributions10/11 | €330,000 | €330,000 | €330,000 | €330,000 | €330,000 | = |
| Capital10 | €330,000 | €330,000 | €330,000 | €330,000 | €330,000 | = |
| Issued capital100 | €330,000 | €330,000 | €330,000 | €330,000 | €330,000 | = |
| Reserves13 | €33,000 | €33,000 | €33,000 | €33,000 | €33,000 | = |
| Non-distributable reserves130/1 | €33,000 | €33,000 | €33,000 | €33,000 | €33,000 | = |
| Legal reserve130 | €33,000 | €33,000 | €33,000 | €33,000 | €33,000 | = |
| Profit (loss) carried forward14 | €873,898 | €1.1m | €1.5m | €1.9m | €2.4m | ▲ 23.0% |
| Amounts payable17/49 | €11.8m | €8.7m | €8.7m | €8.6m | €7.8m | ▼ 9.7% |
| Amounts payable after more than one year17 | €11.6m | €8.5m | €8.5m | €8.5m | €7.7m | ▼ 9.8% |
| Financial debts170/4 | €11.6m | €8.5m | €8.5m | €8.5m | €7.7m | ▼ 9.8% |
| Amounts payable within one year42/48 | €40,593 | €50,946 | €51,254 | €24,628 | €32,761 | ▲ 33.0% |
| Trade debts44 | €9,825 | €10,012 | €14,098 | €5,088 | €5,089 | = |
| Suppliers440/4 | €9,825 | €10,012 | €14,098 | €5,088 | €5,089 | = |
| Taxes, remuneration and social security45 | €30,768 | €40,934 | €37,156 | €19,540 | €27,671 | ▲ 41.6% |
| Taxes450/3 | €30,768 | €40,934 | €37,156 | €19,540 | €27,671 | ▲ 41.6% |
| Accrued charges and deferred income492/3 | €122,610 | €87,359 | €90,712 | €91,270 | €80,878 | ▼ 11.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €201,785 | €250,080 | €382,802 | €421,199 | €443,537 | ▲ 5.3% |
| + Depreciation and write-downs630 | €287,215 | €287,215 | €287,215 | €259,651 | €287,215 | ▲ 10.6% |
| Operating cash flow (approximation) | €489,000 | €537,295 | €670,017 | €680,849 | €730,752 | ▲ 7.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €27,564 | €0 | ▼ 100% |
| Change in cash | - | -€2.6m | €662,498 | €680,487 | -€98,063 | ▼ 114% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €443,537 ▲5.3%
Operating result €928,667, net result €443,537, both a record.
01-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Liquidity triplescurrent ratio 81.49
Current ratio from 25.84 to 81.49; short-term debt falls from €51,254 to €24,628.
31-12
Financial
Equity above €2mEq €2.3m ▲22.5%
7 profitable years in a row build equity to €2.3m.
02-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Liquidity doublescurrent ratio 25.84
Current ratio from 12.78 to 25.84.
04-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
21-04
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
22-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Equity above €1mEq €1.0m ▲21.2%
3 profitable years in a row build equity to €1.0m.
23-04
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
11-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
23-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
24-04
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 21 acts read
About the unread acts
We know of 21 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
21 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Joost-ten-Node · 1 establishment unit since 2018
Ground area
3,343 m²
Building footprint
3,343 m²
Volume, LiDAR
268,011 m³
Parcel 21014A0014/02L002, Brussels · tallest building 144.7 m, ±28 floors. Linked by address, not a title deed.
63
companies at this address
See who is registered here
1 establishment unit
Coquelets
since 20182.289.989.460
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21014A0014/02L002 | Brussels | 3,343 m² | 1 · 3,343 m² | 144.7 m · 28 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
BELFIUS BANK
47 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- BELFIUS BANK
- BELFIUS VERZEKERINGEN
- S.A. COQUELETS
Highest known parent: BELFIUS BANK. The sources do not say who stands above it.
Owners 1
- BELFIUS VERZEKERINGENparentSourceown accounts 2025100%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of S.A. COQUELETS and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,770. 3,933 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded29-06-2011
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0837442174
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.