ACTIVE

COGEAF

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Financial year 2025 · closed on 31/12/2025

Net result

24,8 k €

+70.3% YoY

Gross margin

405,3 k €

-0.1% YoY

Equity

691,3 k €

+3.7% YoY

What does COGEAF do?

COGEAF is a Public limited company incorporated in 1982. Its main activity is: Other printing. Its registered office is in Fleurus.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0423.286.818

Incorporation

23/12/1982

Legal form

Public limited company

Registered office

Chaussée de Gilly(FL) 253
6220 Fleurus · WallonieSee on map

Contributed capital

148 832,00 €

Latest accounts

31/12/2025

Activities (NACE)

18120Other printing· main 18120Other printing 68202Rental and operating of own or leased real estate 68202Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate+2

Joint committees (5)

130
1300
200
2000
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	405,3 k €	-0.1%	405,7 k €	-13.6%	469,8 k €	+31.7%	356,6 k €	+5.5%	338 k €	-5.2%	356,7 k €	-7.0%	383,3 k €	+3.4%	370,8 k €	+2.6%	361,4 k €	+4.6%	345,6 k €	+7.7%	320,7 k €	-5.7%	340,2 k €	-1.6%	345,8 k €	-1.2%	350 k €	-1.7%	356,1 k €	-7.4%	384,6 k €	-17.2%	464,3 k €	+1.2%	458,6 k €	-12.1%	521,6 k €
EBITDA	45,2 k €	+50.5%	30 k €	-63.6%	82,5 k €	-7.6%	89,3 k €	+1.8%	87,7 k €	+0.4%	87,4 k €	-4.8%	91,7 k €	+2.6%	89,4 k €	+0.1%	89,3 k €	+14.6%	77,9 k €	+32.0%	59 k €	-24.4%	78,1 k €	+0.8%	77,5 k €	+307%	19 k €	-75.1%	76,4 k €	+67.5%	45,6 k €	-37.5%	72,9 k €	-30.6%	105 k €	-14.4%	122,7 k €
Operating result	38,3 k €	+45.5%	26,3 k €	-67.8%	81,8 k €	+19.8%	68,3 k €	+2.4%	66,7 k €	+29.0%	51,7 k €	-6.3%	55,2 k €	+5.2%	52,4 k €	+7.0%	49 k €	+30.8%	37,5 k €	+152%	14,9 k €	-57.3%	34,9 k €	-41.0%	59,1 k €	+1717%	3,3 k €	-89.8%	31,7 k €	+148%	12,8 k €	-63.4%	34,9 k €	+11.1%	31,4 k €	-42.3%	54,5 k €
Net result	24,8 k €	+70.3%	14,6 k €	-74.2%	56,4 k €	+20.7%	46,8 k €	+5.3%	44,4 k €	+46.0%	30,4 k €	-1.9%	31 k €	+6.9%	29 k €	+4.3%	27,8 k €	-30.2%	39,8 k €	+758%	4,6 k €	-75.8%	19,2 k €	-39.2%	31,5 k €	+839%	3,4 k €	-78.1%	15,3 k €	+432%	2,9 k €	-65.0%	8,2 k €	-46.4%	15,3 k €	+1.9%	15 k €
Balance sheet
Equity	691,3 k €	+3.7%	666,5 k €	+2.2%	651,9 k €	+9.5%	595,5 k €	+8.5%	548,7 k €	+16.6%	470,8 k €	+6.9%	440,3 k €	+7.6%	409,3 k €	+7.6%	380,4 k €	+7.9%	352,5 k €	+56.1%	225,9 k €	-6.4%	241,2 k €	-0.3%	242,1 k €	+5.0%	230,6 k €	-6.7%	247,2 k €	+1.8%	242,8 k €	-3.2%	250,8 k €	-0.4%	251,7 k €	+2.5%	245,5 k €
Total assets	887,3 k €	+5.7%	839,5 k €	+1.5%	827,4 k €	+8.7%	761,1 k €	+5.8%	719,6 k €	+4.4%	689,5 k €	+1.9%	677 k €	+0.6%	673 k €	+1.0%	666,3 k €	-0.9%	672,3 k €	+14.0%	589,9 k €	-8.8%	646,8 k €	+48.4%	435,8 k €	-90.9%	4,8 M €	-0.7%	4,8 M €	-3.7%	5 M €	-4.4%	5,2 M €	+107%	2,5 M €	-3.8%	2,6 M €
Cash	142,9 k €	+80.4%	79,2 k €	-33.6%	119,3 k €	+19.2%	100,1 k €	+116%	46,3 k €	-33.7%	69,9 k €	+49.2%	46,8 k €	-19.8%	58,4 k €	+184%	20,5 k €	-74.7%	81,1 k €	+93.4%	41,9 k €	+94.7%	21,5 k €	+56.6%	13,8 k €	-29.4%	19,5 k €	-27.4%	26,8 k €	+14867%	179,2 €	-95.5%	4 k €	-71.5%	14 k €	-27.8%	19,3 k €
Debts	196 k €	+13.3%	173 k €	+0.1%	172,8 k €	+4.3%	165,6 k €	-3.1%	170,9 k €	-21.9%	218,8 k €	-7.5%	236,4 k €	-10.3%	263,6 k €	-7.8%	286 k €	-10.6%	319,7 k €	-12.2%	364 k €	-5.6%	385,5 k €	+168%	143,7 k €	-96.8%	4,5 M €	-1.4%	4,6 M €	-3.9%	4,8 M €	-4.5%	5 M €	+120%	2,3 M €	-3.1%	2,3 M €
Other
Workforce	–		7,9 ETP	+3.9%	7,6 ETP	+40.7%	5,4 ETP	-11.5%	6,1 ETP		–		–		–		6,0 ETP	0.0%	6,0 ETP	-7.7%	6,5 ETP	-5.8%	6,9 ETP	+3.0%	6,7 ETP	+11.7%	6,0 ETP	0.0%	6,0 ETP	-24.1%	7,9 ETP	-12.2%	9,0 ETP	-5.3%	9,5 ETP	-12.0%	10,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 25 ended

Active mandates

Cogeaf Group

Director · 0882.332.190

Represented by Olivier Knockaert

Active

JPM & Management

Director · 0820.309.105

Represented by Millan JEAN POL

Active

Olivier KNOCKAERT

Director

Active

Vincent Millan

Director

Active

Ended mandates

ANDRE VAUSE

Managing director · since 27 novembre 2012 · until 05 juin 2018

Ended

VINCENT MILLAN

Managing director · since 27 novembre 2012 · until 05 juin 2018

Ended

ANDRE VAUSE

Managing director · since 05 juin 2012 · until 05 juin 2018

Ended

VINCENT MILLAN

Managing director · since 05 juin 2012 · until 05 juin 2018

Ended

At this address

Other companies at this address

Company	CBE no.
COGELIGHT● Active	0435.801.796
PROGEAF● Active	0823.522.377
V-MANAGEMENT● Active	0820.304.650

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	06/07/2026	14/08/2025	27/08/2024	31/07/2023	02/08/2022	08/10/2021
General meeting	02/06/2026	03/06/2025	04/06/2024	06/06/2023	07/06/2022	02/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	02/06/2026	06/07/2026	French	PDF
Abridged model	31/12/2024	03/06/2025	14/08/2025	French	PDF
Abridged model	31/12/2023	04/06/2024	27/08/2024	French	PDF
Abridged model	31/12/2022	06/06/2023	31/07/2023	French	PDF
Abridged model	31/12/2021	07/06/2022	02/08/2022	French	PDF
Abridged model	31/12/2020	02/06/2021	08/10/2021	French	PDF
Micro model	31/12/2019	02/06/2020	21/08/2020	French	PDF
Micro model	31/12/2018	04/06/2019	15/07/2019	French	PDF
Micro model	31/12/2017	05/06/2018	12/07/2018	French	PDF
Abridged model	31/12/2016	06/06/2017	09/08/2017	French	PDF
Abridged model	31/12/2015	07/06/2016	04/07/2016	French	PDF
Abridged model	31/12/2014	02/06/2015	17/06/2015	French	PDF
Abridged model	31/12/2013	03/06/2014	01/08/2014	French	PDF
Abridged model	31/12/2012	04/06/2013	08/07/2013	French	PDF
Abridged model	31/12/2011	05/06/2012	24/08/2012	French	PDF
Abridged model	31/12/2010	07/06/2011	17/06/2011	French	PDF
Abridged model	31/12/2009	01/06/2010	30/07/2010	French	PDF
Abridged model	31/12/2008	02/06/2009	04/06/2009	French	PDF
Abridged model	31/12/2007	28/08/2008	04/09/2008	French	PDF
Abridged model	31/12/2006	05/06/2007	04/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 25 ended

Active mandates

Cogeaf Group

Director · 0882.332.190

Represented by Olivier Knockaert

Active

JPM & Management

Director · 0820.309.105

Represented by Millan JEAN POL

Active

Olivier KNOCKAERT

Director

Active

Vincent Millan

Director

Active

Ended mandates

ANDRE VAUSE

Managing director · since 27 novembre 2012 · until 05 juin 2018

Ended

VINCENT MILLAN

Managing director · since 27 novembre 2012 · until 05 juin 2018

Ended

ANDRE VAUSE

Managing director · since 05 juin 2012 · until 05 juin 2018

Ended

VINCENT MILLAN

Managing director · since 05 juin 2012 · until 05 juin 2018

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/04/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates16/08/2016
DEMISSIONS, NOMINATIONS
PDF
Capital / shares07/08/2015
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates07/12/2012
DEMISSIONS, NOMINATIONS
PDF
Other18/01/2012
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates28/09/2010
DEMISSIONS, NOMINATIONS
PDF
Mandates19/08/2009
DEMISSIONS, NOMINATIONS
PDF
Mandates20/10/2006
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202524,8 k €↑
2024
Annual accounts 202414,6 k €↓
2023
Annual accounts 202356,4 k €↑
2022
Annual accounts 202246,8 k €↑
2021
Annual accounts 202144,4 k €↑
2019
Annual accounts 201930,4 k €↓
2018
Annual accounts 201831 k €↑
2017
Annual accounts 201729 k €↑
2016
Annual accounts 201627,8 k €↓
2015
Annual accounts 201539,8 k €↑
2014
Annual accounts 20144,6 k €↓
2013
Annual accounts 201319,2 k €↓
2012
Annual accounts 201231,5 k €↑
2011
Annual accounts 20113,4 k €↓
2010
Annual accounts 201015,3 k €↑
2009
Annual accounts 20092,9 k €↓
2008
Annual accounts 20088,2 k €↓
2007
Annual accounts 200715,3 k €↑
2006
Annual accounts 200615 k €
23/12/1982
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

COGEAF

Overview

What does COGEAF do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline