ACTIVE

COFIMEX

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Financial year 2025 · closed on 31/12/2025

Net result

1,0 M €

-93.5% YoY

Gross margin

3,4 M €

-84.4% YoY

Equity

63,9 M €

+1.7% YoY

Workforce

0,0 ETP

What does COFIMEX do?

COFIMEX is a Public limited company incorporated in 1991. Its main activity is: Activities of head offices; management consultancy activities. Its registered office is in Knokke-Heist.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0446.217.618

Incorporation

23/12/1991

Legal form

Public limited company

Registered office

Boslaan 9A
8300 Knokke-Heist · FlandreSee on map

Contributed capital

24 962 276,77 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

70322Activities of head offices; management consultancy activities· main 81100Combined facilities support activities 81100Combined facilities support activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	3,4 M €	-84.4%	21,9 M €	+344%	4,9 M €	+26.3%	3,9 M €	-12.5%	4,5 M €	+34.9%	3,3 M €	-30.8%	4,8 M €	-11.3%	5,4 M €	-18.4%	6,6 M €	+51.4%	4,4 M €	+13.6%	3,8 M €	+1.5%	3,8 M €	+26.3%	3,0 M €	+6.7%	2,8 M €	-3.7%	2,9 M €		–		–		–		–
EBITDA	2,9 M €	-86.1%	21,1 M €	+394%	4,3 M €	+34.9%	3,2 M €	-14.4%	3,7 M €	+39.1%	2,7 M €	-34.1%	4,0 M €	-15.1%	4,8 M €	-19.0%	5,9 M €	+58.7%	3,7 M €	+12.7%	3,3 M €	+1.9%	3,2 M €	+25.1%	2,6 M €	+5.9%	2,4 M €	-4.0%	2,5 M €	-8.9%	2,8 M €	-2.6%	2,9 M €	+13.5%	2,5 M €	+5.1%	2,4 M €
Operating result	916,6 k €	-95.5%	20,4 M €	+539%	3,2 M €	+57.7%	2,0 M €	-19.2%	2,5 M €	+213%	798,9 k €	-66.9%	2,4 M €	-20.0%	3,0 M €	-27.3%	4,2 M €	+128%	1,8 M €	-12.5%	2,1 M €	+3.6%	2,0 M €	+78.3%	1,1 M €	-33.8%	1,7 M €	+0.2%	1,7 M €	-7.2%	1,8 M €	-2.2%	1,9 M €	+5.4%	1,8 M €	+7.8%	1,6 M €
Net result	1,0 M €	-93.5%	16,1 M €	+536%	2,5 M €	+70.8%	1,5 M €	-19.5%	1,8 M €	+240%	542,0 k €	-82.6%	3,1 M €	+54.0%	2,0 M €	-22.0%	2,6 M €	+31.1%	2,0 M €	+58.0%	1,2 M €	+3.3%	1,2 M €	+77.1%	683,1 k €	-8.9%	749,6 k €	-76.6%	3,2 M €	-1.1%	3,2 M €	+557%	493,3 k €	+905%	-61,3 k €	+35.0%	-94,3 k €
Balance sheet
Equity	63,9 M €	+1.7%	62,9 M €	+34.4%	46,8 M €	-13.8%	54,3 M €	+2.8%	52,8 M €	+28.9%	40,9 M €	+2.5%	39,9 M €	+8.4%	36,8 M €	+7.0%	34,4 M €	+8.1%	31,8 M €	+6.6%	29,9 M €	+4.4%	28,6 M €	+4.4%	27,4 M €	+2.6%	26,7 M €	+67.3%	16,0 M €	+25.1%	12,8 M €	+169%	4,7 M €	+11.6%	4,2 M €	-1.4%	4,3 M €
Total assets	71,0 M €	+1.7%	69,8 M €	+40.8%	49,6 M €	-13.8%	57,5 M €	+2.7%	56,0 M €	+27.0%	44,1 M €	+1.6%	43,4 M €	+4.8%	41,4 M €	+2.1%	40,6 M €	+3.6%	39,2 M €	+3.9%	37,7 M €	+1.6%	37,1 M €	+0.4%	37,0 M €	-2.7%	38,0 M €	+31.3%	29,0 M €	+5.3%	27,5 M €	+3.6%	26,5 M €	+12.9%	23,5 M €	-4.5%	24,6 M €
Cash	3,2 M €	-13.1%	3,7 M €	+439%	686,5 k €	-95.9%	16,9 M €	+19.1%	14,2 M €	+41.8%	10,0 M €	-22.8%	13,0 M €	+70.2%	7,6 M €	-2.6%	7,8 M €	+41.8%	5,5 M €	+102%	2,7 M €	+119%	1,2 M €	+4069%	29,9 k €	-99.8%	12,9 M €	+235%	3,8 M €	+1757%	207,1 k €	-54.4%	454,1 k €	+2897%	15,2 k €	+8972%	167,0 €
Debts	199,7 k €	-10.8%	224,0 k €	-54.1%	487,9 k €	-48.1%	939,8 k €	+45.0%	647,9 k €	+87.2%	346,0 k €	+190%	119,3 k €	-91.9%	1,5 M €	-47.2%	2,8 M €	-26.7%	3,8 M €	-26.9%	5,2 M €	-18.0%	6,4 M €	-12.4%	7,3 M €	-17.3%	8,8 M €	-17.8%	10,7 M €	-19.4%	13,2 M €	-36.2%	20,8 M €	+11.1%	18,7 M €	-5.0%	19,7 M €
Other
Workforce	0,0 ETP		0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 35 ended

Active mandates

Caroline Bultiauw

Managing director · since 24 novembre 2021

Active

Joëlle Bultiauw

Managing director · since 24 novembre 2021

Active

Christian Bultiauw

Managing director · since 22 mai 1997

Active

Ended mandates

Caroline Bultiauw

Managing director · since 16 juillet 2025 · until 22 mai 2031

Ended

Christian Bultiauw

Managing director · since 16 juillet 2025 · until 22 mai 2031

Ended

Joelle Bultiauw

Managing director · since 16 juillet 2025 · until 22 mai 2031

Ended

Caroline Bultiauw

Managing director · since 24 novembre 2021 · until 27 mai 2027

Ended

At this address

Other companies at this address

Company	CBE no.
CB CLASSIC CARS● Active	0439.583.610
CEBELEC● Active	0461.506.006
UNIMMO INVEST● Active	0550.626.834
VIGNÉE INVEST● Active	0440.374.852
ZATTARA● Active	0879.223.836

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	01/01/2025	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	31/08/2026	31/08/2026	31/08/2026	08/08/2023	15/07/2022	19/08/2021
General meeting	28/05/2026	08/05/2026	08/05/2026	20/07/2023	30/06/2022	20/07/2021
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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	28/05/2026	31/08/2026	Dutch	PDF
Abridged modelCorrection	31/12/2024	08/05/2026	31/08/2026	Dutch	PDF
Abridged model	31/12/2024	25/08/2025	08/09/2025	Dutch	PDF
Abridged modelCorrection	31/12/2023	08/05/2026	31/08/2026	Dutch	PDF
Abridged model	31/12/2023	30/06/2024	29/07/2024	Dutch	PDF
Abridged model	31/12/2022	20/07/2023	08/08/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	15/07/2022	Dutch	PDF
Abridged model	31/12/2020	20/07/2021	19/08/2021	Dutch	PDF
Abridged model	31/12/2019	14/08/2020	14/09/2020	Dutch	PDF
Abridged model	31/12/2018	31/05/2019	28/06/2019	Dutch	PDF
Abridged model	31/12/2017	31/05/2018	25/06/2018	Dutch	PDF
Abridged model	31/12/2016	26/05/2017	26/06/2017	Dutch	PDF
Abridged model	31/12/2015	16/06/2016	19/08/2016	Dutch	PDF
Abridged model	31/12/2014	28/05/2015	26/06/2015	Dutch	PDF
Abridged model	31/12/2013	30/05/2014	15/07/2014	Dutch	PDF
Abridged model	31/12/2012	20/06/2013	13/08/2013	Dutch	PDF
Abridged model	31/12/2011	24/05/2012	28/08/2012	Dutch	PDF
Full model	31/12/2010	26/05/2011	23/06/2011	Dutch	PDF
Full model	31/12/2009	27/05/2010	18/08/2010	Dutch	PDF
Full model	31/12/2008	28/05/2009	12/06/2009	Dutch	PDF
Full model	31/12/2007	22/05/2008	13/06/2008	Dutch	PDF
Full model	31/12/2006	24/05/2007	26/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 31/12/2025 · 3 active · 35 ended

Active mandates

Caroline Bultiauw

Managing director · since 24 novembre 2021

Active

Joëlle Bultiauw

Managing director · since 24 novembre 2021

Active

Christian Bultiauw

Managing director · since 22 mai 1997

Active

Ended mandates

Caroline Bultiauw

Managing director · since 16 juillet 2025 · until 22 mai 2031

Ended

Christian Bultiauw

Managing director · since 16 juillet 2025 · until 22 mai 2031

Ended

Joelle Bultiauw

Managing director · since 16 juillet 2025 · until 22 mai 2031

Ended

Caroline Bultiauw

Managing director · since 24 novembre 2021 · until 27 mai 2027

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares13/11/2023
KAPITAAL - AANDELEN
PDF
Mandates10/12/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/11/2021
ONTSLAGEN - BENOEMINGEN
PDF
Registered office25/02/2021
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares18/02/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL - KAPITAAL - AANDELEN
PDF
Mandates23/03/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/10/2019
ONTSLAGEN - BENOEMINGEN
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 20251,0 M €↓
16/07/2025
reconductionCaroline BULTIAUW — bestuurder
16/07/2025
reconductionJoëlle BULTIAUW — bestuurder
16/07/2025
reconductionChristian BULTIAUW — bestuurder
16/07/2025
reconductionChristian BULTIAUW — gedelegeerd bestuurder
2024
Annual accounts 202416,1 M €↑
2023
Annual accounts 20232,5 M €↑
2022
Annual accounts 20221,5 M €↓
2021
Annual accounts 20211,8 M €↑
2020
Annual accounts 2020542,0 k €↓
2019
Annual accounts 20193,1 M €↑
2018
Annual accounts 20182,0 M €↓
2017
Annual accounts 20172,6 M €↑
2016
Annual accounts 20162,0 M €↑
2015
Annual accounts 20151,2 M €↑
2014
Annual accounts 20141,2 M €↑
2013
Annual accounts 2013683,1 k €↓
2012
Annual accounts 2012749,6 k €↓
2011
Annual accounts 20113,2 M €↓
2010
Annual accounts 20103,2 M €↑
2009
Annual accounts 2009493,3 k €↑
2008
Annual accounts 2008-61,3 k €↑
2007
Annual accounts 2007-94,3 k €
23/12/1991
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

COFIMEX

Overview

What does COFIMEX 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