ACTIVE

COBA

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Financial year 2025 · closed on 31/12/2025

Net result

360,5 k €

+58.3% YoY

Gross margin

1 M €

+28.3% YoY

Equity

1,7 M €

+14.8% YoY

Workforce

9,8 ETP

+6.5% YoY

What does COBA do?

COBA is a Private limited company incorporated in 1999. Its registered office is in Seneffe. It employs on average 9,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0467.120.920

Incorporation

22/10/1999

Legal form

Private limited company

Registered office

Avenue de la Motte Baraffe 58 box B
7180 Seneffe · WallonieSee on map

Contributed capital

22 508,73 €

Latest accounts

31/12/2025

Average workforce

9,8 ETP

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	1 M €	+28.3%	814,5 k €	-19.4%	1 M €	+53.4%	658,7 k €	-5.6%	698,1 k €	+8.5%	643,4 k €	+1.0%	637 k €	+3.4%	615,9 k €	+24.7%	493,9 k €	-16.5%	591,4 k €	-5.2%	624,1 k €	-2.9%	643 k €	+12.9%	569,3 k €	+24.0%	459 k €	-9.1%	504,8 k €	-11.5%	570,5 k €	+17.9%	484 k €	+5.5%	458,9 k €	+10.9%	413,9 k €
EBITDA	595 k €	+49.6%	397,7 k €	-35.6%	617,7 k €	+64.5%	375,6 k €	-2.0%	383,3 k €	+10.7%	346,2 k €	+70.2%	203,4 k €	+31.6%	154,6 k €	+106%	75 k €	-6.1%	79,9 k €	-19.4%	99,1 k €	-37.6%	158,9 k €	+7.1%	148,3 k €	+56.0%	95,1 k €	-8.7%	104,2 k €	-30.9%	150,8 k €	+65.5%	91,2 k €	-2.9%	93,9 k €	+58.8%	59,1 k €
Operating result	509,8 k €	+59.4%	319,7 k €	-39.5%	528,8 k €	+81.0%	292,2 k €	-2.0%	298 k €	+43.3%	207,9 k €	+58.5%	131,2 k €	+91.8%	68,4 k €	+15584%	435,9 €	-95.0%	8,7 k €	-51.6%	18 k €	-76.2%	75,7 k €	+33.5%	56,7 k €	+75.0%	32,4 k €	-2.3%	33,2 k €	-57.6%	78,3 k €	+166%	29,4 k €	+8.0%	27,3 k €	+60.8%	16,9 k €
Net result	360,5 k €	+58.3%	227,8 k €	-37.5%	364,1 k €	+80.5%	201,7 k €	-2.5%	206,9 k €	+43.8%	143,9 k €	+81.0%	79,5 k €	+147%	32,2 k €	+311%	-15,2 k €	-50.9%	-10,1 k €	-561%	2,2 k €	-96.8%	69 k €	-10.1%	76,7 k €	+3144%	2,4 k €	-87.3%	18,6 k €	-57.4%	43,7 k €	+333%	10,1 k €	-6.2%	10,8 k €	+14.3%	9,4 k €
Balance sheet
Equity	1,7 M €	+14.8%	1,5 M €	+11.5%	1,3 M €	+28.2%	1 M €	+19.7%	850,7 k €	+46.7%	580 k €	+33.0%	436 k €	+22.3%	356,5 k €	+9.9%	324,3 k €	-4.5%	339,5 k €	-2.9%	349,6 k €	+0.6%	347,4 k €	+24.8%	278,5 k €	+38.0%	201,8 k €	+1.2%	199,4 k €	+10.3%	180,8 k €	+31.9%	137,1 k €	+7.9%	127 k €	+6.6%	119,2 k €
Total assets	2,1 M €	+8.7%	1,9 M €	+8.4%	1,7 M €	+22.8%	1,4 M €	+13.2%	1,3 M €	+21.6%	1 M €	-5.4%	1,1 M €	-5.9%	1,2 M €	+24.4%	931,8 k €	-9.0%	1 M €	-17.4%	1,2 M €	-1.1%	1,3 M €	+12.6%	1,1 M €	+92.0%	580,4 k €	-6.2%	618,7 k €	+19.2%	519,1 k €	-13.5%	599,9 k €	+17.9%	508,9 k €	+12.5%	452,4 k €
Cash	373,4 k €	+17.4%	318,1 k €	-44.3%	570,9 k €	+129%	248,8 k €	-24.9%	331,3 k €	+5.0%	315,5 k €	+78.9%	176,3 k €	+9.0%	161,7 k €	+1686%	9,1 k €	-80.6%	46,8 k €	+50.2%	31,2 k €	-72.2%	112 k €	+260%	31,1 k €	-7.8%	33,7 k €	-47.4%	64,1 k €	+35.0%	47,5 k €	-12.2%	54 k €	+87.7%	28,8 k €		–
Debts	374,7 k €	-12.1%	426,1 k €	+2.1%	417,4 k €	+6.2%	393,2 k €	-0.1%	393,4 k €	-10.1%	437,6 k €	-31.6%	639,5 k €	-18.5%	784,6 k €	+32.9%	590,3 k €	-11.3%	665,1 k €	-23.7%	871,3 k €	-1.7%	886,6 k €	+9.1%	813 k €	+115%	378,6 k €	-9.7%	419,3 k €	+24.0%	338,2 k €	-26.9%	462,6 k €	+21.1%	381,9 k €	+14.6%	333,2 k €
Other
Workforce	9,8 ETP	+6.5%	9,2 ETP	0.0%	9,2 ETP	-4.2%	9,6 ETP	+2.1%	9,4 ETP	+17.5%	8,0 ETP	-31.6%	11,7 ETP	-7.9%	12,7 ETP	-9.3%	14,0 ETP	0.0%	14,0 ETP	+7.7%	13,0 ETP	+8.3%	12,0 ETP	+20.0%	10,0 ETP	+12.4%	8,9 ETP	-6.3%	9,5 ETP	-8.7%	10,4 ETP	-7.1%	11,2 ETP	+16.7%	9,6 ETP	+12.9%	8,5 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 31/12/2025 · 2 active · 5 ended

Active mandates

Mathieu Furlanetto

Managing director

Active

Patrick Furlanetto

Director

Active

Ended mandates

Mathieu Furlanetto

Director · since 01 juillet 2019

Ended

Mathieu Furlanetto

Managing director · since 01 juillet 2019

Ended

Patrick Furlanetto

Director · since 14 novembre 2005

Ended

Patrick FURLANETTO

Manager · since 19 octobre 1999

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	01/01/2025	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	15/06/2026	23/06/2025	10/06/2024	30/05/2023	30/05/2022	29/06/2021
General meeting	29/05/2026	30/05/2025	31/05/2024	26/05/2023	27/05/2022	28/05/2021
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
Abridged model	31/12/2025	29/05/2026	15/06/2026	French	PDF
Abridged model	31/12/2024	30/05/2025	23/06/2025	French	PDF
Abridged model	31/12/2023	31/05/2024	10/06/2024	French	PDF
Abridged model	31/12/2022	26/05/2023	30/05/2023	French	PDF
Abridged model	31/12/2021	27/05/2022	30/05/2022	French	PDF
Abridged model	31/12/2020	28/05/2021	29/06/2021	French	PDF
Abridged model	31/12/2019	29/05/2020	22/06/2020	French	PDF
Abridged model	31/12/2018	31/05/2019	05/07/2019	French	PDF
Abridged model	31/12/2017	25/05/2018	21/06/2018	French	PDF
Abridged model	31/12/2016	26/05/2017	30/06/2017	French	PDF
Abridged model	31/12/2015	27/05/2016	31/08/2016	French	PDF
Abridged model	31/12/2014	29/05/2015	27/08/2015	French	PDF
Abridged model	31/12/2013	30/05/2014	07/08/2014	French	PDF
Abridged model	31/12/2012	31/05/2013	18/09/2013	French	PDF
Abridged model	31/12/2011	25/05/2012	26/07/2012	French	PDF
Abridged model	31/12/2010	27/05/2011	06/07/2011	French	PDF
Abridged model	31/12/2009	28/05/2010	09/08/2010	French	PDF
Abridged model	31/12/2008	29/05/2009	07/08/2009	French	PDF
Abridged model	31/12/2007	30/05/2008	22/07/2008	French	PDF
Abridged model	31/12/2006	25/05/2007	28/08/2007	French	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 31/12/2025 · 2 active · 5 ended

Active mandates

Mathieu Furlanetto

Managing director

Active

Patrick Furlanetto

Director

Active

Ended mandates

Mathieu Furlanetto

Director · since 01 juillet 2019

Ended

Mathieu Furlanetto

Managing director · since 01 juillet 2019

Ended

Patrick Furlanetto

Director · since 14 novembre 2005

Ended

Patrick FURLANETTO

Manager · since 19 octobre 1999

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/01/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - SIEGE SOCIAL - OBJET - DEMISSIONS, NOMINATIONS
PDF
Mandates07/08/2019
DEMISSIONS, NOMINATIONS
PDF
Capital / shares14/11/2005
ASSEMBLEE GENERALE - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 2025360,5 k €↑
2024
Annual accounts 2024227,8 k €↓
2023
Annual accounts 2023364,1 k €↑
2022
Annual accounts 2022201,7 k €↓
2021
Annual accounts 2021206,9 k €↑
2019
Annual accounts 2019143,9 k €↑
2018
Annual accounts 201879,5 k €↑
2017
Annual accounts 201732,2 k €↑
2016
Annual accounts 2016-15,2 k €↓
2015
Annual accounts 2015-10,1 k €↓
2014
Annual accounts 20142,2 k €↓
2013
Annual accounts 201369 k €↓
2012
Annual accounts 201276,7 k €↑
2011
Annual accounts 20112,4 k €↓
2010
Annual accounts 201018,6 k €↓
2009
Annual accounts 200943,7 k €↑
2008
Annual accounts 200810,1 k €↓
2007
Annual accounts 200710,8 k €↑
2006
Annual accounts 20069,4 k €
22/10/1999
IncorporationPrivate 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

COBA

Overview

What does COBA 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