Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Shrinking team NBB
FTE fell two years in a row, from 23.1 to 12.4.
-
Legal situation KBO
Vrijwillige ontbinding – vereffening according to the CBE.
Financials
Financial year 2025
COGENGREEN from Liège, company number BE0872940117, closed financial year 2025 with a result of € -1 million after tax. For that financial year COGENGREEN recorded revenue of € 3 million and equity of € -1.1 million. Compared with financial year 2024, the result moved from € -1.2 million to € -1 million. 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 July 2, 2026.
€ -1.1 million
▼ € 1.1 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1 million
▲ 11 % less loss than in 2024
Profit after tax over the fiscal year.
€ 158,718
▼ 74% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.2 million.
People and assets in 2025
12.4
▼ 9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 841,930
▼ 32% vs 2024
€ 67,900 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.
€ 4,388
▼ 82% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 90,556
▼ 86% vs 2024
€ 88,097 is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 891,112
▲ 7% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 76,643
▼ 29% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 10,771,481 | € 10,901,419 | € 8,008,545 | € 3,049,366 | ▼ 62% |
| Gross margin | - | - | € 468,623 | € 513,626 | ▲ 10% |
| Profit after taxes | € -559,303 | € 79,833 | € -1,164,404 | € -1,038,305 | ▲ € 126,099 |
| Equity | € 1,093,688 | € 1,156,662 | € -24,252 | € -1,080,637 | ▼ € 1.1 million |
| Total debts | € 4,611,523 | € 3,718,930 | € 2,694,130 | € 2,164,189 | ▼ 20% |
| Cash | € 154,800 | € 118,728 | € 605,209 | € 158,718 | ▼ 74% |
| Land & buildings | € 370,273 | - | - | - | |
| Retained profit | € 963,046 | € 1,042,879 | € -121,525 | € -1,159,830 | ▼ € 1 million |
| Bank debt | € 1,451,887 | € 1,499,343 | € 656,191 | € 90,556 | ▼ 86% |
| Balance sheet total | € 5,913,591 | € 5,004,739 | € 2,959,525 | € 1,423,561 | ▼ 52% |
| Employees (FTE) | 21.1 | 23.1 | 21.4 | 12.4 | ▼ 9 |
Key figures of COGENGREEN, 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 COGENGREEN?
What happened at COGENGREEN in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
COGENGREEN is active according to the CBE. Legal situation: Vrijwillige ontbinding – vereffening.
- New annual accounts for financial year 2025: loss of € 1 million. Source: NBB ↗
- Sébastien UGONA stepped down as director. NBB
- Eric DE SEGUINS PAZZIS D'AUBIGNAN stepped down as director. NBB
- CONSULFIN SRL stepped down as director. NBB
- JANUS SRL stepped down as director. NBB
- Jan LECOMPTE stepped down as director. NBB
- Frédéric DARDENNE stepped down as director. NBB
- CONSULFIN SRL became a director. NBB
In short
From € 559,303 loss in 2022 to € 1 million loss in 2025.
Paid € 25,541 in corporate taxes since 2022.
Best year ever: 2023, with € 79,833 profit.
On average € 41,400 of value added per employee in 2025.
Management
Directors
According to the 2025 annual accounts
Frédéric DARDENNE
Director
Also active at: COGEN SERVICE, COGENFIN, SOLFIN, ENERGYS MAINTENANCE, REFRECO, ENERGYS
since 2020 · until 2025
Sébastien UGONA
Director
Also active at: Coretec Energy Management, CORETEC ENERGY, CORETEC Services, COGEN SERVICE, COGENFIN, CORETEC MONITORING, SOLFIN, CORETEC PROJECTS +5 more
since 2020 · until 2026
Eric DE SEGUINS PAZZIS D'AUBIGNAN
Chairman of the board, Director
Also active at: Coretec Energy Management, COGENFIN, ENERGYS
since 2020 · until 2026
Director · represented by Denis QUETIN
Also active at: CORETEC ENERGY, CORETEC Services, COGEN SERVICE, COGENFIN, CORETEC MONITORING, CORETEC PROJECTS, ENERGYS MAINTENANCE, REFRECO +2 more
since 2025 · until 2026
Director · represented by Jan LECOMPTE
Also active at: VIABUILD SUD, CORETEC Services, COGEN SERVICE, COGENFIN, CORETEC MONITORING, CORETEC PROJECTS
since 2025 · until 2026
Jan LECOMPTE
Délégué à la gestion journalière
Also active at: VIABUILD SUD, CORETEC Services, CORETEC MONITORING, CORETEC PROJECTS, JANUS
since 2025 · until 2026
Establishments
Establishment units
Physical locations of this company
Place du Haut-pré 10
4000 Liège
Rue Capt. Aviateur Jacquet(SL) 48
5020 Namur
Active since 5 April 2005
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 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.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
DNS
OVH DNS
Domain
Domain
cogengreen.com
Registered
2007-01-07
Registrar
OVH sas
Expires
2027-01-07
Website info
Features
Security
Details
- Company number
- 0872.940.117
- VAT number
- BE 0872.940.117
- Registered office
- Place du Haut-pré 10, 4000 Liège
- Names & denominations
- COGENGREEN
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Vrijwillige ontbinding – vereffening
- Start date
- 4 April 2005
- Peppol
- Active · Active since 31 Jan 2025
- Contact
- cogengreen.com
- Activities · NACE
Activiteiten van ingenieurs en aanverwante technische adviseurs, exclusief landmeters-experts
Technische studiën en ingenieursactiviteiten
Vervaardiging van radiatoren, stoomketels en ketels voor centrale verwarming
Vervaardiging van radiatoren en ketels voor centrale verwarming