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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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
COSABEL from Brussel, company number BE0473720482, closed financial year 2025 with a result of € -17,728 after tax. For that financial year COSABEL recorded a gross margin of € -6,806 and equity of € -65,652. Compared with financial year 2024, the result moved from € -29,638 to € -17,728. 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 June 24, 2026.
€ -65,652
▼ € 17,728 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -17,728
▲ 40 % less loss than in 2024
Profit after tax over the fiscal year.
€ 85
▲ 90% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -465,652.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 12,468
▼ 9% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 142,895 | € -40,406 | € -17,470 | € -6,806 | ▲ € 10,664 |
| Profit after taxes | € 165,750 | € -50,181 | € -29,638 | € -17,728 | ▲ € 11,909 |
| Equity | € 31,895 | € -18,286 | € -47,924 | € -65,652 | ▼ € 17,728 |
| Total debts | € 162,448 | € 216,856 | € 240,879 | € 257,827 | ▲ 7% |
| Cash | € 1,090 | € 1,709 | € 45 | € 85 | ▲ 90% |
| Retained profit | € -368,105 | € -418,286 | € -447,924 | € -465,652 | ▼ € 17,728 |
| Balance sheet total | € 194,343 | € 198,570 | € 192,955 | € 192,174 |
Key figures of COSABEL, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to COSABEL?
What happened at COSABEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 17,728. Source: NBB ↗
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
In short
From € 165,750 profit in 2022 to € 17,728 loss in 2025.
Best year ever: 2022, with € 165,750 profit.
Management
Behind COSABEL are Antoine Morzadec and Hubert Boyer.
Directors
According to the 2025 annual accounts
Antoine Morzadec
Director
Hubert Boyer
Director
Establishments
Establishment units
Physical locations of this company
Zuidstraat 2 box 2
1000 Brussel
Bergstraat 11
1000 Brussel
Active since 29 November 2001
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 9 companies are registered at this address.
All companies at this address →Mercatorfonds
€ 969,785 revenue · 2024
MARALEX
€ 6,346 gross margin · 2025
ARCADY
€ 77,001 gross margin · 2025
BRUSSELS - HABITAT & COMMERCE - BRUSSELS - WOONST & HANDEL
PULSAR ICT
€ 30,699 gross margin · 2025
+4 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0473.720.482
- VAT number
- BE 0473.720.482
- Registered office
- Zuidstraat 2 bus 2, 1000 Brussel
- Names & denominations
- COSABEL
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 5 January 2001
- Peppol
- Not registered
- Activities · NACE
Activiteiten van holdings
Financiële holdings
Holdings