COTELFAX
ActiveCOTELFAX has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €37k and a net result of €14k. Equity is shrinking by ~7.6% per year across the filed fiscal years. Its solvency ranks better than 34% of 17932 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+93
Solvency14▲+6
Growth58▲+26
Stability100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity short (current ratio 0.65 against 0.35 in 2024), and 84.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← 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
15.5%
Return on assets
6%
Age of the figures
8 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 26-05-2026, 66 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
66 d early
2024
44 d early
2023
65 d early
2022
16 d late
2021
38 d early
2020
26 d late
2019
28 d late
← before the deadline
after the deadline →
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
11-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€14k▲ 2,966%
2024 · €470
2018: €2k
2019: €338
2020: €-25k
2021: €11k
2022: €384
2023: €37
2024: €470
2018 → 2025
Working capital
€-37k▲ 66.9%
2024 · €-112k
2018: €-100k
2019: €-97k
2020: €-108k
2021: €-50k
2022: €-83k
2023: €-108k
2024: €-112k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€45k-€45k▲ 0.9%€35k▼ 22.1%€36k▲ 1.3%€37k▲ 4.0%
Operating result€22k-€13k▼ 43.7%€17k▲ 34.3%€10k▼ 39.7%€26k▲ 156%
Net result€11k-€384▼ 96.6%€37▼ 90.2%€470▲ 1,154%€14k▲ 2,966%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 156% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €239k
Fixed assets
€170k▼ 31.1%
Current assets
€69k▲ 15.9%
Equity and liabilities €239k
Equity
€37k▲ 4.0%
Debt
€202k▼ 25.5%
The debt ratio falls from 88.3% to 84.5%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€42k▲
2024 · €36k
Cash flow
€30k▲
2024 · €27k
Solvency
15.5%▲
2024 · 11.7%
Current ratio
0.65▲
2024 · 0.35
Quick ratio
0.47▲
2024 · 0.29
Debt / equity
5.43▼
2024 · 7.58
ROE
38.9%▲
2024 · 1.3%
ROA
6.0%▲
2024 · 0.2%
Interest coverage
4.86▲
2024 · 2.91
Debt
€202k▼
2024 · €270k
Debt ≤ 1 year
€106k▼
2024 · €171k
Debt > 1 year
€96k▼
2024 · €99k
Income taxes
€6k▲
2024 · €4k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€306k€239k▼
Fixed assets21/28€247k€170k▼
Tangible fixed assets22/27€247k€170k▼
Land and buildings22€236k€160k▼
Furniture and vehicles24€11k€10k▼
Current assets29/58€59k€69k▲
Stocks and contracts in progress3€10k€19k▲
Stocks30/36€10k€19k▲
Amounts receivable within one year40/41€39k€18k▼
Trade receivables40€34k€6k▼
Other amounts receivable41€6k€11k▲
Cash at bank and in hand54/58€8k€31k▲
Deferred charges and accrued income490/1€1k€0▼
Equity and liabilities
Total equity and liabilities10/49€306k€239k▼
Equity10/15€36k€37k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€15k€17k▲
Amounts payable17/49€270k€202k▼
Amounts payable after more than one year17€99k€96k▼
Financial debts170/4€99k€96k▼
Amounts payable within one year42/48€171k€106k▼
Current portion of amounts payable after more than one year42€29k€31k▲
Financial debts43€91k€520▼
Credit institutions430/8€91k€520▼
Trade debts44€37k€39k▲
Suppliers440/4€37k€39k▲
Taxes, remuneration and social security45€14k€22k▲
Taxes450/3€14k€22k▲
Other amounts payable47/48-€13k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€16k▼
Other operating charges640/8€4k€4k▼
Gross operating margin9900€40k€46k▲
Operating profit (loss)9901€10k€26k▲
Financial income75/76B€7k€4k▼
Recurring financial income75€7k€4k▼
Financial charges65/66B€12k€9k▼
Recurring financial charges65€12k€9k▼
Profit (loss) for the period before taxes9903€4k€21k▲
Income taxes67/77€4k€6k▲
Profit (loss) for the period9904€470€14k▲
Profit (loss) for the period to be appropriated9905€470€14k▲
Appropriation of the result
Profit (loss) to be appropriated9906€15k€30k▲
Profit (loss) brought forward from the previous period14P€15k€15k▲
Profit to be distributed694/7-€13k
Return on contributions (dividend)694-€13k
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-09
State Gazette act
General meeting · Director resignationGeneral meeting · Director resignation2 facts ▸
State Gazette act
General meeting · Director resignation
General meeting · Director resignation2 facts ▸
- General meeting, 2026-07-02
- Director resignation, Leclère Jean-Pol (administrateur)
26-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €14k ▲2966%
Operating result €26k, net result €14k, both a record.
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
2022
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €11k
Net result €11k after one loss-making year.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 26 days late
2020
31-12
Financial
Weakest financial yearnet €-25k ▼7497%
Net result drops to €-25k, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 28 days late
2019
09-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 9 days late
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 16 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 25 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
02-07-2026
Resigned as Director
Location & real-estate footprint
Registered office, Cerfontaine · 2 establishment units since 1996
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue du Pont Rouge(Sen) 165630 CerfontaineGround area
2,209 m²
Building footprint
217 m²
2 parcels, Wallonia. Linked by address, not a title deed.
2 establishment units
COWATTS
since 19962.071.061.747
Cotelfax sprl
since 20152.246.386.475
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 93056D0101/00X000 | Wallonia | 1,280 m² | 1 · 84 m² | - |
| 93068C0664/00B000 | Wallonia | 928 m² | 1 · 133 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
ZUBALAPHONE
BE 0736.383.220
Kortrijk · Eq €37k
QuestIT
BE 0561.700.967
Antwerpen · Eq €37k
ZALMI
BE 0672.391.033
Anderlecht · Eq €37k
DIBOS
BE 0442.004.155
Beveren-Kruibeke-Zwijndrecht · Eq €37k
HBC-BAARLE
BE 0437.572.839
Baarle-Hertog · Eq €37k
Of 3,211 companies in sector 47400 we hold annual accounts for 1,795. 1,368 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-03-1995
Fiscal year end31-12
Activities, NACEBEL
47400Retail sale of information and communication equipment
47410Retail trade
46431Wholesale of electrical household appliances and audio-video equipment
77330Rental and leasing activities
93299Other amusement and recreation activities
Sources
Crossroads Bank for EnterprisesNational Bank · 31 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.