ACTIVE

COBEL

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Financial year 2025 · closed on 30/06/2025

Net result

229,2 k €

+35.6% YoY

Gross margin

1,2 M €

+25.3% YoY

Equity

2,1 M €

+12.3% YoY

Workforce

4,1 ETP

+13.9% YoY

What does COBEL do?

COBEL is a Public limited company incorporated in 1985. Its main activity is: Wholesale of live animals. Its registered office is in Ath. It employs on average 4,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0428.075.351

Incorporation

09/11/1985

Legal form

Public limited company

Registered office

Route de Frasnes(Hou) 237
7812 Ath · WallonieSee on map

Contributed capital

62 000,00 €

Latest accounts

30/06/2025

Average workforce

4,1 ETP

Activities (NACE)

46231Wholesale of live animals· main 46231Wholesale of live animals 51230Freight air transport and space transport 77320Rental and leasing of construction and civil engineering machinery and equipment 77320Rental and leasing of construction and civil engineering machinery and equipment 71320Architectural and engineering activities; technical testing and analysis+2

Joint committees (3)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	1,2 M €	+25.3%	928,3 k €	+4.9%	884,7 k €	+11.7%	791,9 k €	+15.1%	688 k €	+19.6%	575,4 k €	-2.3%	589,2 k €	-13.5%	681 k €	+15.2%	591,4 k €	+54.1%	383,7 k €	-9.1%	422,2 k €	-25.3%	565,4 k €	+24.1%	455,4 k €	+18.6%	384,1 k €	-2.8%	395,3 k €	+28.7%	307,1 k €	+3.8%	295,7 k €	+5.8%	279,6 k €	+14.6%	243,9 k €
EBITDA	982,6 k €	+26.7%	775,6 k €	+0.3%	773,4 k €	+13.3%	682,6 k €	+15.0%	593,7 k €	+17.8%	504 k €	-0.0%	504,2 k €	-17.2%	608,6 k €	+19.5%	509,5 k €	+51.3%	336,7 k €	-11.0%	378,1 k €	-25.1%	504,7 k €	+28.4%	392,9 k €	+21.7%	322,9 k €	-7.2%	348,1 k €	+24.6%	279,4 k €	+4.1%	268,4 k €	+4.0%	258 k €	+14.9%	224,6 k €
Operating result	344,8 k €	+36.2%	253,1 k €	-28.0%	351,8 k €	+0.8%	348,9 k €	+76.7%	197,4 k €	+52.7%	129,3 k €	+35.1%	95,7 k €	-48.3%	185,1 k €	+8.1%	171,1 k €	+2007%	-9 k €	-173%	12,2 k €	-93.1%	177,7 k €	+131%	76,9 k €	+237%	22,8 k €	-72.2%	82,2 k €	+135%	34,9 k €	+4.2%	33,5 k €	-12.9%	38,5 k €	+41.1%	27,3 k €
Net result	229,2 k €	+35.6%	169 k €	-32.9%	252 k €	-7.0%	270,9 k €	+85.9%	145,7 k €	+49.1%	97,7 k €	+55.3%	62,9 k €	-49.3%	124 k €	+19.2%	104 k €	+223%	32,2 k €	-36.4%	50,6 k €	-66.3%	150,4 k €	+209%	48,7 k €	+28.6%	37,9 k €	-6.0%	40,3 k €	+31.2%	30,7 k €	+188%	10,7 k €	+9871%	-109,3 €	-101%	14,7 k €
Balance sheet
Equity	2,1 M €	+12.3%	1,8 M €	+9.9%	1,7 M €	+17.4%	1,4 M €	+23.1%	1,2 M €	+13.9%	1 M €	+10.1%	923 k €	+8.4%	851,7 k €	+16.2%	732,7 k €	+15.9%	631,9 k €	+4.4%	605,3 k €	+15.2%	525,4 k €	+35.0%	389,2 k €	+12.9%	344,8 k €	+19.3%	289 k €	+49.2%	193,6 k €	+18.9%	162,9 k €	+7.0%	152,2 k €	-0.1%	152,3 k €
Total assets	3,9 M €	+25.7%	3,1 M €	-10.1%	3,5 M €	+19.3%	2,9 M €	+25.8%	2,3 M €	+0.1%	2,3 M €	+3.7%	2,2 M €	-9.8%	2,5 M €	+18.5%	2,1 M €	+10.6%	1,9 M €	-3.4%	2 M €	+14.0%	1,7 M €	+7.5%	1,6 M €	-0.1%	1,6 M €	+11.3%	1,4 M €	+8.2%	1,3 M €	+11.2%	1,2 M €	+24.7%	958,9 k €	+20.9%	793,3 k €
Cash	210,8 k €	+70.2%	123,8 k €	-43.4%	218,7 k €	+16.2%	188,1 k €	+299%	47,1 k €	-56.1%	107,2 k €	+68.9%	63,4 k €	-45.0%	115,4 k €	+127%	50,8 k €	+29.8%	39,2 k €	-36.3%	61,5 k €	-49.8%	122,4 k €	+38.3%	88,5 k €	-18.4%	108,5 k €	+41.9%	76,4 k €	+166%	28,8 k €	+2574%	1,1 k €	+96.2%	548 €	-45.7%	1 k €
Debts	1,8 M €	+45.6%	1,2 M €	-29.6%	1,8 M €	+20.9%	1,5 M €	+28.4%	1,1 M €	-10.8%	1,3 M €	-0.2%	1,3 M €	-18.8%	1,6 M €	+19.9%	1,3 M €	+6.1%	1,2 M €	-7.5%	1,3 M €	+13.1%	1,2 M €	-2.1%	1,2 M €	-3.8%	1,3 M €	+9.5%	1,1 M €	+1.5%	1,1 M €	+9.5%	1 M €	+27.7%	804,7 k €	+25.8%	639,5 k €
Other
Workforce	4,1 ETP	+13.9%	3,6 ETP	+38.5%	2,6 ETP	+18.2%	2,2 ETP	+4.8%	2,1 ETP	+16.7%	1,8 ETP	0.0%	1,8 ETP	-5.3%	1,9 ETP	+5.6%	1,8 ETP	+80.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	-28.6%	1,4 ETP	-6.7%	1,5 ETP	+7.1%	1,4 ETP	+180%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 4 active · 4 ended

Active mandates

Bart De Roeck

Director

Active

Inge De Roeck

Director

Active

Monique Van Bellinghem

Managing director

Active

Noel De Roeck

Director

Active

Ended mandates

Bart De Roeck

Director · since 01 mai 2022

Ended

Inge De Roeck

Manager

Ended

Monique Van Bellinghem

Director

Ended

Monique Van Bellinghem

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	28/02/2026	27/02/2025	29/02/2024	27/02/2023	21/02/2022	24/02/2021
General meeting	20/12/2025	21/12/2024	16/12/2023	17/12/2022	18/12/2021	19/12/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	20/12/2025	28/02/2026	Dutch	PDF
Abridged model	30/06/2024	21/12/2024	27/02/2025	Dutch	PDF
Abridged model	30/06/2023	16/12/2023	29/02/2024	Dutch	PDF
Abridged model	30/06/2022	17/12/2022	27/02/2023	Dutch	PDF
Abridged model	30/06/2021	18/12/2021	21/02/2022	Dutch	PDF
Abridged model	30/06/2020	19/12/2020	24/02/2021	Dutch	PDF
Abridged model	30/06/2019	21/12/2019	06/02/2020	Dutch	PDF
Abridged model	30/06/2018	15/12/2018	04/02/2019	Dutch	PDF
Abridged model	30/06/2017	16/12/2017	08/01/2018	Dutch	PDF
Abridged model	30/06/2016	17/12/2016	12/01/2017	Dutch	PDF
Abridged model	30/06/2015	19/12/2015	22/12/2015	Dutch	PDF
Abridged model	30/06/2014	20/12/2014	19/01/2015	Dutch	PDF
Abridged model	30/06/2013	16/12/2013	23/01/2014	Dutch	PDF
Abridged model	30/06/2012	17/12/2012	21/12/2012	Dutch	PDF
Abridged model	30/06/2011	19/12/2011	23/12/2011	Dutch	PDF
Abridged model	30/06/2010	20/12/2010	23/12/2010	Dutch	PDF
Abridged model	30/06/2009	21/12/2009	23/12/2009	French	PDF
Abridged model	30/06/2008	22/12/2008	23/12/2008	Dutch	PDF
Abridged model	30/06/2007	24/12/2007	31/12/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

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 30/06/2025 · 4 active · 4 ended

Active mandates

Bart De Roeck

Director

Active

Inge De Roeck

Director

Active

Monique Van Bellinghem

Managing director

Active

Noel De Roeck

Director

Active

Ended mandates

Bart De Roeck

Director · since 01 mai 2022

Ended

Inge De Roeck

Manager

Ended

Monique Van Bellinghem

Director

Ended

Monique Van Bellinghem

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates27/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates17/05/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates08/04/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates15/01/2014
OBJET - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates04/03/2003
DEMISSIONS, NOMINATIONS - OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - ASSEMBLEE GENERALE - CAPITAL, ACTIONS - MODIFICATION FORME JURIDIQUE
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 2025229,2 k €↑
2024
Annual accounts 2024169 k €↓
2023
Annual accounts 2023252 k €↓
2022
Annual accounts 2022270,9 k €↑
2021
Annual accounts 2021145,7 k €↑
2020
Annual accounts 202097,7 k €↑
2019
Annual accounts 201962,9 k €↓
2018
Annual accounts 2018124 k €↑
2017
Annual accounts 2017104 k €↑
2016
Annual accounts 201632,2 k €↓
2015
Annual accounts 201550,6 k €↓
2014
Annual accounts 2014150,4 k €↑
2013
Annual accounts 201348,7 k €↑
2012
Annual accounts 201237,9 k €↓
2011
Annual accounts 201140,3 k €↑
2010
Annual accounts 201030,7 k €↑
2009
Annual accounts 200910,7 k €↑
2008
Annual accounts 2008-109,3 €↓
2007
Annual accounts 200714,7 k €
09/11/1985
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

COBEL

Overview

What does COBEL do?

Trend over 19 financial years

Indicative valuation

Board of directors

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