COVADAK
ActiveCOVADAK has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €320k and a net result of €22k. Equity is growing by ~15.3% per year across the filed fiscal years. Its solvency ranks better than 74% of 7447 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
73
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability64▼-29
Solvency89▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23k at 30 days acceptable
Liquidity ample (current ratio 2.72 against 2.39 in 2023; short-term debt: 30% and cash: 19.2% of total assets), and 35.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-08-2025, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d late
2023
61 d late
2022
67 d late
2021
30 d late
2020
26 d late
2019
31 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€320k▲ 3.6%
2023 · €309k
2018: €152k
2019: €155k
2020: €155k
2021: €166k
2022: €218k
2023: €309k
2018 → 2024
Total assets
€499k▼ 0.9%
2023 · €504k
2018: €448k
2019: €467k
2020: €382k
2021: €367k
2022: €493k
2023: €504k
2018 → 2024
Net result
€22k▼ 77.9%
2023 · €100k
2018: €-30k
2019: €4k
2020: €23k
2021: €11k
2022: €52k
2023: €100k
2018 → 2024
Working capital
€258k▼ 0.9%
2023 · €260k
2018: €142k
2019: €161k
2020: €136k
2021: €133k
2022: €192k
2023: €260k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€155k-€166k▲ 6.8%€218k▲ 31.2%€309k▲ 42.0%€320k▲ 3.6%
Operating result€34k-€25k▼ 25.7%€81k▲ 219%€149k▲ 82.7%€28k▼ 81.2%
Net result€23k-€11k▼ 54.2%€52k▲ 390%€100k▲ 92.5%€22k▼ 77.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 81% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €499k
Fixed assets
€92k▲ 62.8%
Current assets
€408k▼ 8.9%
Equity and liabilities €499k
Equity
€320k▲ 3.6%
Debt
€179k▼ 7.9%
The debt ratio falls from 38.6% to 35.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€51k▼
2023 · €162k
Cash flow
€45k▼
2023 · €113k
Solvency
64.1%▲
2023 · 61.4%
Current ratio
2.72▲
2023 · 2.39
Quick ratio
2.32▲
2023 · 2.09
Debt / equity
0.56▼
2023 · 0.63
ROE
6.9%▼
2023 · 32.2%
ROA
4.4%▼
2023 · 19.8%
Interest coverage
4.77▼
2023 · 53.68
Debt
€179k▼
2023 · €195k
Debt ≤ 1 year
€150k▼
2023 · €187k
Debt > 1 year
€29k▲
2023 · €7k
Income taxes
€5k▼
2023 · €52k
Staff costs
€302k▼
2023 · €342k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€504k€499k▼
Fixed assets21/28€56k€92k▲
Tangible fixed assets22/27€55k€91k▲
Plant, machinery and equipment23€6k€9k▲
Furniture and vehicles24€19k€55k▲
Leasing and similar rights25€16k€10k▼
Other tangible fixed assets26€15k€16k▲
Financial fixed assets28€1k€1k=
Current assets29/58€448k€408k▼
Amounts receivable after more than one year29€45k€42k▼
Trade receivables290€45k€42k▼
Stocks and contracts in progress3€56k€59k▲
Stocks30/36€56k€59k▲
Amounts receivable within one year40/41€168k€200k▲
Trade receivables40€146k€179k▲
Other amounts receivable41€23k€21k▼
Current investments50/53-€864
Cash at bank and in hand54/58€170k€96k▼
Deferred charges and accrued income490/1€9k€10k▲
Equity and liabilities
Total equity and liabilities10/49€504k€499k▼
Equity10/15€309k€320k▲
Contributions10/11€19k€19k=
Reserves13€291k€302k▲
Distributable reserves133€291k€302k▲
Amounts payable17/49€195k€179k▼
Amounts payable after more than one year17€7k€29k▲
Financial debts170/4€7k€29k▲
Amounts payable within one year42/48€187k€150k▼
Current portion of amounts payable after more than one year42€7k€15k▲
Financial debts43€100k€75k▼
Credit institutions430/8€100k€75k▼
Trade debts44€47k€60k▲
Suppliers440/4€47k€60k▲
Taxes, remuneration and social security45€34k-
Taxes450/3€32k-
Remuneration and social security454/9€2k-
Income statement
Code20232024
Remuneration, social security and pensions62€342k€302k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€23k▲
Other operating charges640/8€5k€6k▲
Non-recurring operating charges66A-€4k
Gross operating margin9900€510k€362k▼
Operating profit (loss)9901€149k€28k▼
Financial income75/76B€6k€9k▲
Recurring financial income75€1k€9k▲
Non-recurring financial income76B€5k-
Financial charges65/66B€3k€11k▲
Recurring financial charges65€3k€11k▲
Profit (loss) for the period before taxes9903€151k€27k▼
Income taxes67/77€52k€5k▼
Profit (loss) for the period9904€100k€22k▼
Profit (loss) for the period to be appropriated9905€100k€22k▼
Appropriation of the result
Profit (loss) to be appropriated9906€100k€22k▼
Transfer from equity791/2€8k-
Transfer to equity691/2€100k€11k▼
To other reserves6921€100k€11k▼
Profit to be distributed694/7€8k€11k▲
Return on contributions (dividend)694€8k€11k▲
Social balance
Average headcount (FTE)90876.66.6=
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 31 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 61 days late
2023
31-12
Financial
Highest result since 2018net €100k ▲92.5%
Operating result €149k, net result €100k, both a record.
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 67 days late
2022
31-12
Financial
Equity above €200kEq €218k ▲31.2%
4 profitable years in a row build equity to €218k.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
2016
25-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Kruisem · 1 establishment unit since 1998
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Boeregemstraat 69750 KruisemGround area
2,446 m²
Building footprint
218 m²
Volume, LiDAR
1,112 m³
Parcel 45036A1224/00E000, Flanders · tallest building 6.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
COVADAK NV DAKCONSTRUCTIES
since 19982.087.423.964
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45036A1224/00E000 | Flanders | 2,446 m² | 1 · 218 m² | 6.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 4,397 EUR awarded · 4,397 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 540 EUR | 540 EUR |
| 2024 | 1 | 296 EUR | 296 EUR |
| 2023 | 1 | 156 EUR | 156 EUR |
| 2022 | 2 | 3,405 EUR | 3,405 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Recognised contractor
1 categoryCOVADAK BV39326
Dual-learning approval
1 endedSimilar companies · same sector, comparable size
HOUTHOEVE
BE 0445.409.845
Herenthout · Eq €320k
VDK DESIGN
BE 0643.608.064
Wielsbeke · Eq €320k
E.C. PROFIX
BE 0831.985.133
Beringen · Eq €320k
HOREMANS-VAN HOOF
BE 0897.093.117
Mol · Eq €320k
VOS
BE 0430.492.433
Herk-de-Stad · Eq €320k
Of 20,030 companies in sector 43320 we hold annual accounts for 9,135. 6,786 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-06-1998
Fiscal year end31-12
Activities, NACEBEL
43320Joinery installation
43410Roofing work
45220
45421
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
43230Insulation installation
43291Specialised construction activities
45332
45422
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
3 entriesE-mail:info@covadak.be
Phone:09-384.97.09
Fax:09-384.97.15