COEVAL
ActiveSummary
The computed 12-month bankruptcy probability of COEVAL is 5.1% (elevated). The 2025 annual accounts show negative equity (-€14,159) and a net result of -€14,309. Its solvency ranks better than 18% of 22,774 sector peers (NACE 47, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 08-02-2024 Normal situation
- Activity
- Retail sale of household furniture NACE 47551and 2 others
- Establishment unit
- 2.355.491.976 4000 Liège, since 08-02-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 18-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 5.1%
- Gross margin
- -€4,195
- Loss
- €14,309
- Equity
- -€14,159
- Total assets
- €99,800
- Negative equity on 31-12-2025
- 2025 accounts filed 30 days after the deadline
Score breakdownraises riskLiquidity: current ratio 0.841 change of registered office in 24 monthsFounded in 2024lowers riskSize: total assets €99,800Show the evidence
Checked score
About 5 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro). It does better than 15% of them on solvency, 1% on liquidity and 13% on profitability.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 30 days after the deadline Filed on 30 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00455186.
Annual accounts 2025 filed on 30-08-2026 at the NBB
Turnover and EBIT margin are not published. The micro format does not require them.
Investments
| Item | 2025 |
|---|---|
| Tangible fixed assets | €1,900 |
| Intangible fixed assets | €2,263 |
| Financial fixed assets | €2,900 |
| Depreciation and write-downs of the year | €2,679 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
| Line | 2025 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,679 |
| Other operating charges640/8 | €6,495 |
| Gross operating margin9900 | -€4,195 |
| Operating profit (loss)9901 | -€13,369 |
| Financial income75/76B | €1,958 |
| Recurring financial income75 | €1,958 |
| Financial charges65/66B | €2,899 |
| Recurring financial charges65 | €2,899 |
| Profit (loss) for the period before taxes9903 | -€14,309 |
| Profit (loss) for the period9904 | -€14,309 |
| Profit (loss) for the period to be appropriated9905 | -€14,309 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €99,800 | |
| Formation expenses20 | €0 | |
| Fixed assets21/28 | €4,384 | |
| Tangible fixed assets22/27 | €1,484 | |
| Plant, machinery and equipment23 | €1,484 | |
| Financial fixed assets28 | €2,900 | |
| Current assets29/58 | €95,417 | |
| Stocks and contracts in progress3 | €91,834 | |
| Stocks30/36 | €91,834 | |
| Amounts receivable within one year40/41 | €515 | |
| Trade receivables40 | €515 | |
| Current investments50/53 | €2,918 | |
| Deferred charges and accrued income490/1 | €150 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €99,800 | |
| Equity10/15 | -€14,159 | |
| Contributions10/11 | €150 | |
| Profit (loss) carried forward14 | -€14,309 | |
| Amounts payable17/49 | €113,959 | |
| Amounts payable within one year42/48 | €113,959 | |
| Trade debts44 | €22,965 | |
| Suppliers440/4 | €22,965 | |
| Taxes, remuneration and social security45 | €324 | |
| Taxes450/3 | €324 | |
| Other amounts payable47/48 | €90,670 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€14,309 |
| + Depreciation and write-downs630 | €2,679 |
| Operating cash flow (approximation) | -€11,629 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,639 companies had the same profile as COEVAL has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of COEVAL itself: 5.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 7,639 companies, not a prediction for COEVAL. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-08-2026 | 2026-00455186 |
Board & ownership
Directors
Other functions 3
Owners and capital
Shareholders
- Anjum Zia Kayani Sofian 34 shares
- Bel Hassan Ilyes 33 shares
- Boumahd Amine 33 shares
- Muhammedhamidullah Ünsal to Bel Hassan Ilyes 33 shares
- Muhammedhamidullah Ünsal to Boumahd Amine 17 shares
- Anjum Zia Kayani Sofian to Boumahd Amine 16 shares
- ÜNSAL,Muhammedhamidullah sole founder · 100% at incorporation
Capital transactions
- 12-02-2024 Incorporation · €150
Mandate history
- Board
- Other function
| Name | Functions and periods |
|---|---|
| Anjum Zia Kayani Sofian |
|
| Bel Hassan Ilyes |
|
| Boumahd Amine |
|
| ÜNSAL,Muhammedhamidullah |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs proportionnellement nombre actions acquises, toutes cessions entre vifs onéreux gratuit volontaires forcées…”
Articles of association, deed of 12-02-2024 (in French)
Network & group
Companies at the same address
7 other companies- Adexa Solutions Registered office · since 2025 1018486340
- CGS ACCOUNTING Registered office · since 2025 0797616845
- First Partner Establishment · since 2025 0783568671
- KBM HOMES Establishment · since 2022 0792930359
- Association des copropriétaires de la Résidence Bodu, sise rue Mabime 62 à Ans Registered office · since 2017 0671983534
- JBH CONSULT Registered office · since 2016 0656875090
- D'HEUR EN DUYSINX Registered office · since 1982 0422373632
Connections & network
1 connected companyThe connected companies are in the list below.
Timeline
Acts, filings and financial milestones
28-01
Gazette deed
Registered officeRegistered-office move2 points ▸
- General meeting, 08-01-2025
- Registered-office move, RueMabîme62-4432Ans
21-06
Gazette deed
Registered office moved from Liege to LiègeNew seat: Rue Chafnay 153-4020 Liège · Previous seat: Rue Vivegnis 389 boîte 12- 4000 LIEGE · Resignation: Muhammedhamidullah Ünsal (director)13 points ▸
- General meeting, 21-05-2024
- Director resignation, Muhammedhamidullah Ünsal (director)
- Director discharge, Muhammedhamidullah Ünsal
- Director appointment, Anjum Zia Kayani Sofian (administateur)
- Director appointment, Bel Hassan Ilyes (administateur)
- Director appointment, Boumahd Amine (administateur)
- Share transfer, Muhammedhamidullah Ünsal → Bel Hassan Ilyes
- Share transfer, Muhammedhamidullah Ünsal → Boumahd Amine
- Share transfer, Anjum Zia Kayani Sofian → Boumahd Amine
- Anjum Zia Kayani Sofian holds 34 shares
- Bel Hassan Ilyes holds 33 shares
- Boumahd Amine holds 33 shares
- The act holds 1 more point.
12-02
Gazette deed
IncorporationStarting capital €150 · Appointment: ÜNSAL,Muhammedhamidullah (administrateurnonstatutaire) · Registered office clause9 points ▸
- Capital
- Registered office clause, “4000Liège,RueVivegnis389boîte12, décisionsneprennenteffetqu'àdaterdudépôtaugreffed'uneexpéditiondel'acteconstitutifconformémentàlaloi” (deed in French)
- Board rule, 1
- Director appointment, ÜNSAL,Muhammedhamidullah (administrateurnonstatutaire)
- Pre-incorporation commitments, “takeover, touslesengagementsainsiquelesobligationsquienrésultent,ettouteslesactivitésentreprisesaunometpourcomptedelasociétéenformation” (deed in French)
- Incorporation, 07-02-2024
- Founder, ÜNSAL,Muhammedhamidullah
- Founding capital, €150
- Other provision, “statuts déterminés par le fondateur” (deed in French)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
2 former offices
- Rue Vivegnis 389 boîte 12, 4000 Liege until 21-05-2024 · act of 21-06-2024
- 4020 Liège until 08-02-2024 · act of 28-01-2025
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62001B0444/00C008 | Wallonia | 1,842 m² | 1 · 222 m² | 5.5 m · 1 |
| 62810B1155/00N000 | Wallonia | 480 m² | 1 · 102 m² | 12.8 m · 4 |