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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Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 19 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 2.1 to 1.6.
Financials
Financial year 2025
COGETRA from Waterloo, company number BE0440659320, closed financial year 2025 with a result of € -27,233 after tax. For that financial year COGETRA recorded a gross margin of € 71,445 and equity of € -90,615. Compared with financial year 2024, the result moved from € -28,230 to € -27,233. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on December 26, 2025.
€ -90,615
▼ € 27,233 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -27,233
▲ 4 % less loss than in 2024
Profit after tax over the fiscal year.
€ 62,158
▲ € 49,941 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -339,351.
People and assets in 2025
1.6
▼ 0.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 57,339
▲ 20% vs 2024
€ 35,800 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 1,522
▲ 42% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 208,524
▼ 9% vs 2024
€ 21,111 is repaid this year. At this pace the long-term loan is gone in ≈ 10 years.
€ 54,505
▼ 15% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 10,081
▼ 12% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 48,493 | € 26,371 | € 61,209 | € 71,445 | ▲ 17% |
| Profit after taxes | € -27,439 | € -54,378 | € -28,230 | € -27,233 | ▲ € 997 |
| Equity | € 19,226 | € -35,151 | € -63,382 | € -90,615 | ▼ € 27,233 |
| Total debts | € 482,145 | € 471,705 | € 481,660 | € 526,292 | ▲ 9% |
| Cash | € 19,662 | € 8,974 | € 12,218 | € 62,158 | ▲ € 49,941 |
| Land & buildings | € 342,624 | € 324,799 | € 306,975 | € 289,151 | ▼ 6% |
| Retained profit | € -229,510 | € -283,887 | € -312,118 | € -339,351 | ▼ € 27,233 |
| Bank debt | € 269,337 | € 249,477 | € 229,209 | € 208,524 | ▼ 9% |
| Balance sheet total | € 501,372 | € 436,554 | € 418,278 | € 435,677 | ▲ 4% |
| Employees (FTE) | 1.5 | 2.1 | 2 | 1.6 | ▼ 0.4 |
Key figures of COGETRA, 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 COGETRA?
What happened at COGETRA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Nicolas TYTGAT stepped down as director. NBB
- Amaury HELLA stepped down as director. NBB
- Véronique CULLIFORD stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 27,233. Source: NBB ↗
- Nicolas TYTGAT became a director. NBB
- Amaury HELLA became a director. NBB
- Véronique CULLIFORD became a director. NBB
- New establishment in Sint-Genesius-Rode. KBO
In short
From € 27,439 loss in 2022 to € 27,233 loss in 2025.
Paid € 1,675 in corporate taxes since 2022.
On average € 44,700 of value added per employee in 2025.
Management
Directors
According to the 2025 annual accounts
Nicolas TYTGAT
Managing director
Also active at: PUPPY, Manya, PUPPY IMMO, IMPS IMMO, PUPPY EXPLOITATION, NTCS, G-ACCESS
since 2023 · until 2029
Amaury HELLA
Managing director
since 2023 · until 2029
Véronique CULLIFORD
Director
Also active at: INTERNATIONAL MERCHANDISING, PROMOTION AND SERVICES, PUPPY, Manya, PEYO PRODUCTIONS, PUPPY IMMO, IMPS IMMO, PUPPY EXPLOITATION, LAFIG BELGIUM +1 more
since 2023 · until 2029
Establishments
Establishment units
Physical locations of this company
Avenue des Cèdres 11
1410 Waterloo
Zoniënwoudlaan 332
1640 Sint-Genesius-Rode
Active since 15 July 2005
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0440.659.320
- VAT number
- BE 0440.659.320
- Registered office
- Avenue des Cèdres 11, 1410 Waterloo
- Names & denominations
- COGETRA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 April 1990
- Peppol
- Active · Active since 10 Dec 2025
- Activities · NACE
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