COTIMA
Judicial reorganisationSummary
The file of COTIMA contains 1 judicial reorganisation, as published in the Belgian State Gazette. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The annual accounts of COTIMA for fiscal year 2024 show a net loss of 80% of the equity at the start of that year. The 2024 annual accounts show equity of €2k and a net result of €-12k. Equity is shrinking by ~29.3% per year across the filed fiscal years. Its solvency ranks better than 10% of 2437 sector peers (fiscal year 2024).
Checked score
Score 2024
Axes · tick = 2023
Profitability13▲+13
Solvency26▼-3
Growth25▼-2
Track record60
Credit verdict
No credit on open account during an ongoing judicial reorganisation
Liquidity short (current ratio 0.9 against 0.93 in 2023; short-term debt: 99.2% and cash: 20% of total assets), and 99.2% 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.
+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-12k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 2437 sector peers (2024).
NBB · sector comparisonPosition among 2437 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-06-2025, 34 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
34 d early
2023
30 d early
2022
28 d early
2021
32 d late
2020
27 d late
2019
44 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€184k▼ 14.3%
2023 · €214k
2018: €280k
2019: €263k▼ -6.2% vs 2018
2020: €433k▲ +65.0% vs 2019
2021: €216k▼ -50.2% vs 2020
2022: €528k▲ +145% vs 2021highest in 7 years
2023: €214k▼ -59.4% vs 2022
2024: €184k▼ -14.3% vs 2023lowest in 7 years
2018 → 2024
EBIT margin
-6.2%▲ 31.6pp
2023 · -37.8%
2018: 11.3%
2019: 12.2%▲ +8.3% vs 2018
2020: -6.3%▼ -152% vs 2019
2021: -2.4%▲ +62.1% vs 2020
2022: 25.5%▲ +1163% vs 2021highest in 7 years
2023: -37.8%▼ -249% vs 2022lowest in 7 years
2024: -6.2%▲ +83.5% vs 2023
2018 → 2024
Net result
€-12k▲ 85.4%
2023 · €-80k
2018: €31k
2019: €33k▲ +6.4% vs 2018highest in 7 years
2020: €-32k▼ -199% vs 2019
2021: €-8k▲ +76.0% vs 2020
2022: €22k▲ +387% vs 2021
2023: €-80k▼ -462% vs 2022lowest in 7 years
2024: €-12k▲ +85.4% vs 2023
2018 → 2024
Working capital
€-29k▼ 39.0%
2023 · €-21k
2018: €-4k
2019: €35k▲ +1096% vs 2018
2020: €-417▼ -101% vs 2019
2021: €-6k▼ -1360% vs 2020
2022: €75k▲ +1335% vs 2021highest in 7 years
2023: €-21k▼ -128% vs 2022
2024: €-29k▼ -39.0% vs 2023lowest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€433k-€216k▼ 50.2%€528k▲ 145%€214k▼ 59.4%€184k▼ 14.3%
2020: €433k
2021: €216k▼ -50.2% vs 2020
2022: €528k▲ +145% vs 2021highest in 5 years
2023: €214k▼ -59.4% vs 2022
2024: €184k▼ -14.3% vs 2023lowest in 5 years
Equity€82k-€74k▼ 10.0%€95k▲ 29.5%€15k▼ 84.7%€2k▼ 83.4%
2020: €82k
2021: €74k▼ -10.0% vs 2020
2022: €95k▲ +29.5% vs 2021highest in 5 years
2023: €15k▼ -84.7% vs 2022
2024: €2k▼ -83.4% vs 2023lowest in 5 years
Operating result€-27k-€-5k▲ 81.1%€135k€-81k€-11k▲ 85.9%
2020: €-27k
2021: €-5k▲ +81.1% vs 2020
2022: €135k▲ +2703% vs 2021highest in 5 years
2023: €-81k▼ -160% vs 2022lowest in 5 years
2024: €-11k▲ +85.9% vs 2023
Net result€-32k-€-8k▲ 76.0%€22k€-80k€-12k▲ 85.4%
2020: €-32k
2021: €-8k▲ +76.0% vs 2020
2022: €22k▲ +387% vs 2021highest in 5 years
2023: €-80k▼ -462% vs 2022lowest in 5 years
2024: €-12k▲ +85.4% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €11k in 2024 against €81k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €292k
Fixed assets
€32k ▼ 11.2%
Current assets
€260k ▼ 13.5%
Equity and liabilities €292k
Equity
€2k ▼ 83.4%
Debt
€289k ▼ 10.1%
Debt's share of the balance-sheet total rises from 95.7% to 99.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-4k▲
2023 · €-76k
Cash flow
€-4k▲
2023 · €-75k
Current ratio
0.90▼
2023 · 0.93
Quick ratio
0.64▼
2023 · 0.69
ROE
-484.1%▲
2023 · -551.8%
ROA
-4.0%▲
2023 · -23.9%
Interest coverage
-4.16▲
2023 · -207.15
Debt ≤ 1 year
€289k▼
2023 · €322k
Staff costs
€43k▲
2023 · €34k
A ratio outside any meaningful range has been withheld (balance sheet total €292k, equity €2k).
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 · 2024 against 2023 · 51 lines
Balance sheet
Code20232024
Assets
Total assets20/58€336k€292k▼
Fixed assets21/28€36k€32k▼
Tangible fixed assets22/27€35k€31k▼
Land and buildings22€16k€18k▲
Plant, machinery and equipment23€18k€13k▼
Financial fixed assets28€875€875=
Current assets29/58€301k€260k▼
Stocks and contracts in progress3€80k€76k▼
Stocks30/36€75k€76k▲
Contracts in progress37€5k-
Amounts receivable within one year40/41€152k€126k▼
Trade receivables40€129k€108k▼
Other amounts receivable41€23k€18k▼
Cash at bank and in hand54/58€68k€58k▼
Equity and liabilities
Total equity and liabilities10/49€336k€292k▼
Equity10/15€15k€2k▼
Contributions10/11€19k€19k=
Reserves13€14k€14k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€12k€12k=
Profit (loss) carried forward14€-20k€-32k▼
Investment grants15€2k€2k▼
Amounts payable17/49€322k€289k▼
Amounts payable within one year42/48€322k€289k▼
Current portion of amounts payable after more than one year42€68k€68k=
Financial debts43€8k€7k▼
Credit institutions430/8€8k€7k▼
Trade debts44€238k€194k▼
Suppliers440/4€238k€194k▼
Taxes, remuneration and social security45€7k€8k▲
Taxes450/3€1k€2k▲
Remuneration and social security454/9€5k€6k▲
Other amounts payable47/48€847€13k▲
Income statement
Code20232024
Turnover70€214k€184k▼
Goods, raw materials, services and sundry goods60/61€258k€135k▼
Remuneration, social security and pensions62€34k€43k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€8k▲
Other operating charges640/8€3k€5k▲
Gross operating margin9900€-39k€44k▲
Operating profit (loss)9901€-81k€-11k▲
Financial income75/76B€1k€688▼
Recurring financial income75€1k€688▼
Financial charges65/66B€365€938▲
Recurring financial charges65€365€938▲
Profit (loss) for the period before taxes9903€-80k€-12k▲
Profit (loss) for the period9904€-80k€-12k▲
Profit (loss) for the period to be appropriated9905€-80k€-12k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-80k€-32k▲
Profit (loss) brought forward from the previous period14P-€-20k
Transfer from equity791/2€60k-
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €433k | €216k | €528k | €214k | €184k | ▼ 14.3% |
| Goods, raw materials, services and sundry goods60/61 | - | €173k | €317k | €258k | €135k | ▼ 47.8% |
| Remuneration, social security and pensions62 | - | €44k | €53k | €34k | €43k | ▲ 28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15k | €17k | €3k | €5k | €8k | ▲ 37.7% |
| Other operating charges640/8 | - | €4k | €5k | €3k | €5k | ▲ 41.1% |
| Gross operating margin9900 | €50k | €60k | €196k | €-39k | €44k | ▲ 214% |
| Operating profit (loss)9901 | €-27k | €-5k | €135k | €-81k | €-11k | ▲ 85.9% |
| Financial income75/76B | - | €3k | €2k | €1k | €688 | ▼ 39.9% |
| Recurring financial income75 | €3k | €3k | €2k | €1k | €688 | ▼ 39.9% |
| Financial charges65/66B | - | €1k | €114k | €365 | €938 | ▲ 157% |
| Recurring financial charges65 | €3k | €1k | €46k | €365 | €938 | ▲ 157% |
| Non-recurring financial charges66B | - | - | €68k | - | - | - |
| Profit (loss) for the period before taxes9903 | €-28k | €-4k | €22k | €-80k | €-12k | ▲ 85.4% |
| Income taxes67/77 | €5k | €4k | - | - | - | - |
| Profit (loss) for the period9904 | €-32k | €-8k | €22k | €-80k | €-12k | ▲ 85.4% |
| Profit (loss) for the period to be appropriated9905 | €-32k | €-8k | €22k | €-80k | €-12k | ▲ 85.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €380k | €359k | €403k | €336k | €292k | ▼ 13.2% |
| Fixed assets21/28 | €90k | €80k | €20k | €36k | €32k | ▼ 11.2% |
| Tangible fixed assets22/27 | €90k | €79k | €19k | €35k | €31k | ▼ 11.5% |
| Land and buildings22 | - | €68k | €10k | €16k | €18k | ▲ 9.7% |
| Plant, machinery and equipment23 | - | €10k | €10k | €18k | €13k | ▼ 30.5% |
| Financial fixed assets28 | - | €875 | €875 | €875 | €875 | = |
| Current assets29/58 | €290k | €280k | €383k | €301k | €260k | ▼ 13.5% |
| Stocks and contracts in progress3 | €94k | €120k | €112k | €80k | €76k | ▼ 5.6% |
| Stocks30/36 | - | €103k | €112k | €75k | €76k | ▲ 0.8% |
| Contracts in progress37 | - | €17k | - | €5k | - | - |
| Amounts receivable within one year40/41 | €179k | €139k | €206k | €152k | €126k | ▼ 17.2% |
| Trade receivables40 | - | €118k | €189k | €129k | €108k | ▼ 16.1% |
| Other amounts receivable41 | - | €21k | €17k | €23k | €18k | ▼ 23.3% |
| Cash at bank and in hand54/58 | €17k | €21k | €65k | €68k | €58k | ▼ 14.5% |
| Deferred charges and accrued income490/1 | - | - | €101 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €380k | €359k | €403k | €336k | €292k | ▼ 13.2% |
| Equity10/15 | €82k | €74k | €95k | €15k | €2k | ▼ 83.4% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €60k | €52k | €74k | €14k | €14k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | - | €12k | €12k | €12k | €12k | = |
| Distributable reserves133 | - | €38k | €60k | - | - | - |
| Profit (loss) carried forward14 | €-13k | - | - | €-20k | €-32k | ▼ 58.2% |
| Investment grants15 | - | €3k | €3k | €2k | €2k | ▼ 19.5% |
| Amounts payable17/49 | €298k | €286k | €308k | €322k | €289k | ▼ 10.1% |
| Amounts payable after more than one year17 | €8k | - | - | - | - | - |
| Amounts payable within one year42/48 | €290k | €286k | €308k | €322k | €289k | ▼ 10.1% |
| Current portion of amounts payable after more than one year42 | - | €199k | €68k | €68k | €68k | = |
| Financial debts43 | - | €26k | €9k | €8k | €7k | ▼ 19.7% |
| Credit institutions430/8 | - | €26k | €9k | €8k | €7k | ▼ 19.7% |
| Trade debts44 | €15k | €23k | €208k | €238k | €194k | ▼ 18.4% |
| Suppliers440/4 | - | €23k | €208k | €238k | €194k | ▼ 18.4% |
| Taxes, remuneration and social security45 | - | €12k | €11k | €7k | €8k | ▲ 17.3% |
| Taxes450/3 | - | €4k | €3k | €1k | €2k | ▲ 72.7% |
| Remuneration and social security454/9 | - | €7k | €8k | €5k | €6k | ▲ 3.9% |
| Other amounts payable47/48 | - | €26k | €11k | €847 | €13k | ▲ 1,402% |
| Accrued charges and deferred income492/3 | - | - | €256 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-32k | €-8k | €22k | €-80k | €-12k | ▲ 85.4% |
| + Depreciation and write-downs630 | €15k | €17k | €3k | €5k | €8k | ▲ 37.7% |
| Operating cash flow (approximation) | €-17k | €9k | €25k | €-75k | €-4k | ▲ 94.5% |
| Investment in fixed assets (approximation) | - | €-6k | €56k | €-21k | €-4k | ▲ 82.6% |
| Change in cash | - | €5k | €43k | €4k | €-10k | ▼ 364% |
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
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-80k
Net result drops to €-80k, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €22k
Net result €22k after 2 loss-making years.
07-11
Judicial reorganisation
Opening
Ondernemingsrechtbank Gent · collective agreement · event 31-10-2022
01-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 32 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €33k ▲6.4%
Net result €33k, the highest in the series.
31-12
Financial
Equity above €100kEq €114k ▲39.1%
2 profitable years in a row build equity to €114k.
17-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 48 days late
Show earlier events
2018
01-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
21-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Temse · 1 establishment unit since 1999
Ground area
730 m²
Building footprint
757 m²
Volume, LiDAR
4,197 m³
Parcel 46025B0182/00C000, Flanders · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Laagstraat 68, 9140 Temse
since 19992.091.987.320
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46025B0182/00C000 | Flanders | 730 m² | 1 · 757 m² | 7.6 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.
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Of 981 companies in sector 25401 we hold annual accounts for 407. 66 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 (pre-2019)
Founded02-07-1999
Fiscal year end31-12
Activities, NACEBEL 2025
25401Forging of metal
25530Machining of metals
Scores and ratios are computed by Checked and are not a credit decision.