Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 22 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
COGAR from Ecaussinnes, company number BE0434568809, closed financial year 2025 with a result of € -2,145 after tax. For that financial year COGAR recorded a gross margin of € 72,679 and equity of € 20,349. Compared with financial year 2024, the result moved from € 1,811 to € -2,145. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on December 19, 2025.
€ 20,349
▼ 10% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -2,145
▼ still € 1,811 profit in 2024
Profit after tax over the fiscal year.
€ 11,313
▲ 151% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 1,749.
People and assets in 2025
€ 55,798
▲ 4% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 14,652
▼ 48% vs 2024
Of which on lease € 14,652.
Debts at end 2025
€ 11,320
▼ 46% vs 2024
€ 10,730 is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 39,050
▲ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 4,739
▼ 21% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 75,054 | € 72,589 | € 73,552 | € 72,679 | ▼ 1% |
| Profit after taxes | € 10,982 | € -2,830 | € 1,811 | € -2,145 | ▼ € 3,957 |
| Equity | € 23,512 | € 20,683 | € 22,494 | € 20,349 | ▼ 10% |
| Total debts | € 44,847 | € 58,814 | € 62,687 | € 55,128 | ▼ 12% |
| Cash | € 14,891 | € 10,745 | € 4,501 | € 11,313 | ▲ 151% |
| Retained profit | € 4,912 | € 2,083 | € 3,894 | € 1,749 | ▼ 55% |
| Bank debt | € 6,484 | € 18,581 | € 21,041 | € 11,320 | ▼ 46% |
| Balance sheet total | € 68,360 | € 79,497 | € 85,181 | € 75,477 | ▼ 11% |
Key figures of COGAR, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 3 March 2027.
What happened to COGAR?
What happened at COGAR in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 2,145 (▼ € 3,957 vs 2024). Source: NBB ↗
- New establishment in Lasne. KBO
- Start of the company according to the CBE. KBO
In short
From € 10,982 profit in 2022 to € 2,145 loss in 2025.
Paid € 11,818 in corporate taxes since 2022.
Best year ever: 2022, with € 10,982 profit.
Management
Behind COGAR are Pascal GARWIG and Michel GARWIG.
Directors
According to the 2025 annual accounts
Pascal GARWIG
Director
Michel GARWIG
Administrator-manager
Establishments
Establishment units
Physical locations of this company
Rue de Courrière-lez-Ville 29
7190 Ecaussinnes
Chaussée de Louvain 431
1380 Lasne
Active since 29 June 1988
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0434.568.809
- VAT number
- BE 0434.568.809
- Registered office
- Rue de Courrière-lez-Ville 29, 7190 Ecaussinnes
- Names & denominations
- COGAR
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 10 June 1988
- Peppol
- Active · Active since 30 Mar 2026
- Activities · NACE
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