COELENBERG
ActiveSummary
COELENBERG has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.20M and a net result of €158k. Equity is growing by ~7.1% per year across the filed fiscal years. Its solvency ranks better than 80% of 181 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74=
Solvency100▲+3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €260k at 30 days acceptable
Liquidity ample (current ratio 1.77 against 6.75 in 2024; short-term debt: 3.2% and cash: 4.5% of total assets), and 13.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Electricity, gas, steam and air conditioning supply (NACE 35)
about 42% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
86.3%
Return on assets
4.3%
Age of the figures
9 mo
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 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
38 d early
2023
51 d early
2022
53 d early
2021
40 d early
2020
22 d early
2019
23 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€3.20M▲ 5.2%
2024 · €3.04M
2018: €2.10M
2019: €2.10M▼ -0.2% vs 2018lowest in 8 years
2020: €2.28M▲ +8.7% vs 2019
2021: €2.48M▲ +8.6% vs 2020
2022: €2.68M▲ +7.9% vs 2021
2023: €2.88M▲ +7.5% vs 2022
2024: €3.04M▲ +5.6% vs 2023
2025: €3.20M▲ +5.2% vs 2024highest in 8 years
2018 → 2025
Total assets
€3.70M▼ 12.1%
2024 · €4.21M
2018: €2.76Mlowest in 8 years
2019: €3.68M▲ +33.4% vs 2018
2020: €3.78M▲ +2.8% vs 2019
2021: €3.86M▲ +2.2% vs 2020
2022: €4.22M▲ +9.3% vs 2021
2023: €4.40M▲ +4.1% vs 2022highest in 8 years
2024: €4.21M▼ -4.2% vs 2023
2025: €3.70M▼ -12.1% vs 2024
2018 → 2025
Net result
€158k▼ 2.1%
2024 · €162k
2018: €176k
2019: €-4k▼ -102% vs 2018lowest in 8 years
2020: €184k▲ +4916% vs 2019
2021: €196k▲ +6.7% vs 2020
2022: €197k▲ +0.5% vs 2021
2023: €200k▲ +1.7% vs 2022highest in 8 years
2024: €162k▼ -19.2% vs 2023
2025: €158k▼ -2.1% vs 2024
2018 → 2025
Working capital
€90k▼ 87.9%
2024 · €746k
2018: €259k
2019: €-302k▼ -216% vs 2018lowest in 8 years
2020: €34k▲ +111% vs 2019
2021: €-208k▼ -706% vs 2020
2022: €125k▲ +160% vs 2021
2023: €967k▲ +672% vs 2022highest in 8 years
2024: €746k▼ -22.8% vs 2023
2025: €90k▼ -87.9% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.48M-€2.68M▲ 7.9%€2.88M▲ 7.5%€3.04M▲ 5.6%€3.20M▲ 5.2%
2021: €2.48Mlowest in 5 years
2022: €2.68M▲ +7.9% vs 2021
2023: €2.88M▲ +7.5% vs 2022
2024: €3.04M▲ +5.6% vs 2023
2025: €3.20M▲ +5.2% vs 2024highest in 5 years
Operating result€281k-€323k▲ 14.9%€333k▲ 3.2%€210k▼ 37.1%€212k▲ 1.1%
2021: €281k
2022: €323k▲ +14.9% vs 2021
2023: €333k▲ +3.2% vs 2022highest in 5 years
2024: €210k▼ -37.1% vs 2023lowest in 5 years
2025: €212k▲ +1.1% vs 2024
Net result€196k-€197k▲ 0.5%€200k▲ 1.7%€162k▼ 19.2%€158k▼ 2.1%
2021: €196k
2022: €197k▲ +0.5% vs 2021
2023: €200k▲ +1.7% vs 2022highest in 5 years
2024: €162k▼ -19.2% vs 2023
2025: €158k▼ -2.1% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.70M
Fixed assets
€3.49M ▲ 4.8%
Current assets
€208k ▼ 76.2%
Equity and liabilities €3.70M
Equity
€3.20M ▲ 5.2%
Provisions
€7k ▼ 18.0%
Debt
€499k ▼ 57.1%
Debt's share of the balance-sheet total falls from 27.6% to 13.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€491k▼
2024 · €525k
Cash flow
€437k▼
2024 · €477k
Current ratio
1.77▼
2024 · 6.75
Debt to equity
0.16▼
2024 · 0.38
ROE
5.0%▼
2024 · 5.3%
ROA
4.3%▲
2024 · 3.8%
Interest coverage
14.68▼
2024 · 118.84
Debt ≤ 1 year
€118k▼
2024 · €130k
Debt > 1 year
€351k▼
2024 · €1.03M
Income taxes
€23k▼
2024 · €70k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.21M€3.70M▼
Fixed assets21/28€3.33M€3.49M▲
Tangible fixed assets22/27€3.33M€3.49M▲
Land and buildings22€2.75M€2.61M▼
Plant, machinery and equipment23€496k€791k▲
Furniture and vehicles24€84k€97k▲
Current assets29/58€876k€208k▼
Amounts receivable within one year40/41€17k€28k▲
Trade receivables40€15k€14k▼
Other amounts receivable41€3k€15k▲
Current investments50/53€100k€0▼
Cash at bank and in hand54/58€740k€165k▼
Deferred charges and accrued income490/1€18k€15k▼
Equity and liabilities
Total equity and liabilities10/49€4.21M€3.70M▼
Equity10/15€3.04M€3.20M▲
Contributions10/11€1.01M€1.01M=
Reserves13€2.02M€2.18M▲
Tax-exempt reserves132€17k€14k▼
Distributable reserves133€2.01M€2.17M▲
Profit (loss) carried forward14€5k€6k▲
Provisions and deferred taxes16€9k€7k▼
Deferred taxes168€9k€7k▼
Amounts payable17/49€1.16M€499k▼
Amounts payable after more than one year17€1.03M€351k▼
Financial debts170/4€1.03M€351k▼
Amounts payable within one year42/48€130k€118k▼
Current portion of amounts payable after more than one year42€87k€88k▲
Trade debts44€31k€17k▼
Suppliers440/4€31k€17k▼
Taxes, remuneration and social security45€4k€2k▼
Taxes450/3€4k€2k▼
Other amounts payable47/48€8k€11k▲
Accrued charges and deferred income492/3€993€30k▲
Income statement
Code20242025
Non-recurring operating income76A-€15k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€315k€279k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€7k
Other operating charges640/8€41k€44k▲
Non-recurring operating charges66A€442€107▼
Gross operating margin9900€566k€543k▼
Operating profit (loss)9901€210k€212k▲
Financial income75/76B€25k€822▼
Recurring financial income75€25k€822▼
Financial charges65/66B€4k€33k▲
Recurring financial charges65€4k€33k▲
Profit (loss) for the period before taxes9903€230k€179k▼
Transfer from deferred taxes780€2k€2k=
Income taxes67/77€70k€23k▼
Profit (loss) for the period9904€162k€158k▼
Transfer from tax-exempt reserves789€3k€3k=
Profit (loss) for the period to be appropriated9905€165k€161k▼
Appropriation of the result
Profit (loss) to be appropriated9906€169k€167k▼
Profit (loss) brought forward from the previous period14P€5k€5k▲
Transfer to equity691/2€164k€161k▼
To other reserves6921€164k€161k▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €15k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €272k | €249k | €262k | €315k | €279k | ▼ 11.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €-612 | €10k | €0 | - | €7k | - |
| Other operating charges640/8 | €34k | €37k | €39k | €41k | €44k | ▲ 8.7% |
| Non-recurring operating charges66A | €115 | €823 | €206 | €442 | €107 | ▼ 75.7% |
| Gross operating margin9900 | €586k | €620k | €634k | €566k | €543k | ▼ 4.2% |
| Operating profit (loss)9901 | €281k | €323k | €333k | €210k | €212k | ▲ 1.1% |
| Financial income75/76B | - | €242 | €9k | €25k | €822 | ▼ 96.7% |
| Recurring financial income75 | - | €242 | €9k | €25k | €822 | ▼ 96.7% |
| Financial charges65/66B | €35k | €40k | €55k | €4k | €33k | ▲ 657% |
| Recurring financial charges65 | €35k | €40k | €55k | €4k | €33k | ▲ 657% |
| Profit (loss) for the period before taxes9903 | €246k | €283k | €288k | €230k | €179k | ▼ 22.0% |
| Transfer from deferred taxes780 | €2k | €2k | €2k | €2k | €2k | = |
| Income taxes67/77 | €52k | €88k | €89k | €70k | €23k | ▼ 67.5% |
| Profit (loss) for the period9904 | €196k | €197k | €200k | €162k | €158k | ▼ 2.1% |
| Transfer from tax-exempt reserves789 | €3k | €3k | €3k | €3k | €3k | = |
| Profit (loss) for the period to be appropriated9905 | €199k | €200k | €203k | €165k | €161k | ▼ 2.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.86M | €4.22M | €4.40M | €4.21M | €3.70M | ▼ 12.1% |
| Fixed assets21/28 | €3.58M | €3.37M | €3.24M | €3.33M | €3.49M | ▲ 4.8% |
| Tangible fixed assets22/27 | €3.58M | €3.37M | €3.24M | €3.33M | €3.49M | ▲ 4.8% |
| Land and buildings22 | €2.84M | €2.70M | €2.54M | €2.75M | €2.61M | ▼ 5.3% |
| Plant, machinery and equipment23 | €737k | €656k | €578k | €496k | €791k | ▲ 59.4% |
| Furniture and vehicles24 | €2k | €17k | €119k | €84k | €97k | ▲ 14.3% |
| Current assets29/58 | €281k | €851k | €1.16M | €876k | €208k | ▼ 76.2% |
| Amounts receivable within one year40/41 | €24k | €33k | €72k | €17k | €28k | ▲ 63.8% |
| Trade receivables40 | €20k | €33k | €57k | €15k | €14k | ▼ 8.3% |
| Other amounts receivable41 | €4k | €0 | €15k | €3k | €15k | ▲ 479% |
| Current investments50/53 | - | - | €825k | €100k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €257k | €818k | €250k | €740k | €165k | ▼ 77.7% |
| Deferred charges and accrued income490/1 | - | €521 | €14k | €18k | €15k | ▼ 19.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.86M | €4.22M | €4.40M | €4.21M | €3.70M | ▼ 12.1% |
| Equity10/15 | €2.48M | €2.68M | €2.88M | €3.04M | €3.20M | ▲ 5.2% |
| Contributions10/11 | €1.01M | €1.01M | €1.01M | €1.01M | €1.01M | = |
| Capital10 | €1.01M | - | - | - | - | - |
| Issued capital100 | €1.01M | - | - | - | - | - |
| Reserves13 | €1.47M | €1.66M | €1.86M | €2.02M | €2.18M | ▲ 7.8% |
| Non-distributable reserves130/1 | €101k | €0 | - | - | - | - |
| Legal reserve130 | €101k | - | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Tax-exempt reserves132 | €26k | €23k | €20k | €17k | €14k | ▼ 18.0% |
| Distributable reserves133 | €1.34M | €1.64M | €1.84M | €2.01M | €2.17M | ▲ 8.0% |
| Profit (loss) carried forward14 | €3k | €4k | €5k | €5k | €6k | ▲ 6.1% |
| Provisions and deferred taxes16 | €14k | €12k | €10k | €9k | €7k | ▼ 18.0% |
| Deferred taxes168 | €14k | €12k | €10k | €9k | €7k | ▼ 18.0% |
| Amounts payable17/49 | €1.37M | €1.53M | €1.51M | €1.16M | €499k | ▼ 57.1% |
| Amounts payable after more than one year17 | €852k | €773k | €1.26M | €1.03M | €351k | ▼ 66.0% |
| Financial debts170/4 | €852k | €773k | €1.26M | €1.03M | €351k | ▼ 66.0% |
| Amounts payable within one year42/48 | €490k | €726k | €195k | €130k | €118k | ▼ 9.1% |
| Current portion of amounts payable after more than one year42 | €85k | €86k | €86k | €87k | €88k | ▲ 0.9% |
| Trade debts44 | €6k | €1k | €15k | €31k | €17k | ▼ 43.7% |
| Suppliers440/4 | €6k | €1k | €15k | €31k | €17k | ▼ 43.7% |
| Taxes, remuneration and social security45 | €7k | €24k | €16k | €4k | €2k | ▼ 48.4% |
| Taxes450/3 | €7k | €24k | €16k | €4k | €2k | ▼ 48.4% |
| Other amounts payable47/48 | €392k | €615k | €77k | €8k | €11k | ▲ 38.5% |
| Accrued charges and deferred income492/3 | €29k | €35k | €52k | €993 | €30k | ▲ 2,896% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €196k | €197k | €200k | €162k | €158k | ▼ 2.1% |
| + Depreciation and write-downs630 | €272k | €249k | €262k | €315k | €279k | ▼ 11.5% |
| Operating cash flow (approximation) | €468k | €446k | €462k | €477k | €437k | ▼ 8.3% |
| Investment in fixed assets (approximation) | - | €-38k | €-126k | €-414k | €-439k | ▼ 6.1% |
| Change in cash | - | €561k | €-568k | €490k | €-575k | ▼ 217% |
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
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €200k ▲1.7%
Operating result €333k, net result €200k, both a record.
31-12
Financial
Liquidity times 5current ratio 5.97
Current ratio from 1.17 to 5.97; short-term debt falls from €726k to €195k.
08-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity doublescurrent ratio 1.17
Current ratio from 0.57 to 1.17.
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €184k
Net result €184k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 1.07
Current ratio from 0.39 to 1.07.
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Weakest financial yearnet €-4k
Net result drops to €-4k, the lowest in the series; recovery starts the following year.
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
6 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, Wervik · 1 establishment unit since 1993
Ground area
6,590 m²
Building footprint
4,216 m²
Volume, LiDAR
22,178 m³
Parcel 33009C0113/00D002, Flanders · tallest building 10.3 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
COELENBERG
since 19932.060.425.597
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33009C0113/00D002 | Flanders | 6,590 m² | 1 · 4,216 m² | 10.3 m · 2 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 126 EUR awarded · 126 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 126 EUR | 126 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Legal Entity Identifier
529900DKX42L4A6O2925
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Of 814 companies in sector 35110 we hold annual accounts for 630. 375 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded05-12-1992
Fiscal year end31-12
Activities, NACEBEL 2025
35110Production of electricity from non-renewable sources
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
Scores and ratios are computed by Checked and are not a credit decision.