COVALGO
ActiveSummary
COVALGO has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €142,995 and a net result of €14,017. Equity remains stable across the filed fiscal years (±2.2% per year). Its solvency ranks better than 87% of 7814 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▲+80
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity ample (current ratio 8.02 against 4.77 in 2024; short-term debt: 11.8% and cash: 36.6% of total assets), and 11.8% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
88.2%
Return on assets
8.6%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 11-12-2025, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 d early
2024
50 d early
2023
48 d early
2022
54 d early
2021
53 d early
2020
52 d early
2019
50 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 51 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€142,995▲ 10.9%
2024 · €128,978
Total assets
€162,080▼ 2.2%
2024 · €165,725
Net result
€14,017
2024 · -€49,889
Working capital
€134,055▲ 3.5%
2024 · €129,561
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€44,957▲ 0.8%€35,477▼ 21.1%€22,773▼ 35.8%-€49,647€13,157
Net result€30,213within the sector's middle half▲ 1.5%€23,839within the sector's middle half▼ 21.1%€15,939within the sector's middle half▼ 33.1%-€49,889below the sector's middle half€14,017within the sector's middle half
Equity€175,778above the sector's middle half▲ 20.8%€199,616above the sector's middle half▲ 13.6%€178,866above the sector's middle half▼ 10.4%€128,978within the sector's middle half▼ 27.9%€142,995within the sector's middle half▲ 10.9%
Total assets€192,830within the sector's middle half▲ 8.0%€211,977within the sector's middle half▲ 9.9%€227,066within the sector's middle half▲ 7.1%€165,725within the sector's middle half▼ 27.0%€162,080within the sector's middle half▼ 2.2%
Debt€17,052▼ 48.2%€12,361▼ 27.5%€48,200▲ 290%€36,747▼ 23.8%€19,086▼ 48.1%
Working capital€170,703▲ 16.4%€196,828▲ 15.3%€179,564▼ 8.8%€129,561▼ 27.8%€134,055▲ 3.5%
Solvency91.2%above the sector's middle half▲ 9.6pp94.2%above the sector's middle half▲ 3.0pp78.8%above the sector's middle half▼ 15.4pp77.8%above the sector's middle half▼ 0.9pp88.2%above the sector's middle half▲ 10.4pp
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €13,157 after a loss of €49,647 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €162,080
Fixed assets
€8,939 ▲ 392%
Current assets
€153,141 ▼ 6.6%
Equity and liabilities €162,080
Equity
€142,995 ▲ 10.9%
Debt
€19,086 ▼ 48.1%
Debt's share of the balance-sheet total falls from 22.2% to 11.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€17,553▲
2024 · -€48,561
Cash flow
€18,413▲
2024 · -€48,803
Current ratio
8.02▲
2024 · 4.77
Debt to equity
0.13▼
2024 · 0.28
ROE
9.8%▲
2024 · -38.7%
ROA
8.6%▲
2024 · -30.1%
Interest coverage
9.62▲
2024 · -18.54
Debt ≤ 1 year
€19,086▼
2024 · €34,347
Income taxes
€349▼
2024 · €363
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,672 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €446 | €1,086 | €1,086 | €1,086 | €4,396 | ▲ 305% |
| Other operating charges640/8 | - | €116 | €99 | €111 | - | - |
| Gross operating margin9900 | €45,519 | €36,679 | €23,959 | -€48,449 | €17,553 | ▲ 136% |
| Operating profit (loss)9901 | €44,957 | €35,477 | €22,773 | -€49,647 | €13,157 | ▲ 127% |
| Financial income75/76B | - | - | €3,305 | €2,741 | €3,033 | ▲ 10.7% |
| Recurring financial income75 | - | - | €3,305 | €2,741 | €3,033 | ▲ 10.7% |
| Financial charges65/66B | - | €1,030 | €3,316 | €2,619 | €1,824 | ▼ 30.4% |
| Recurring financial charges65 | €1,075 | €1,030 | €3,316 | €2,619 | €1,824 | ▼ 30.4% |
| Profit (loss) for the period before taxes9903 | €43,882 | €34,448 | €22,762 | -€49,525 | €14,366 | ▲ 129% |
| Income taxes67/77 | €13,670 | €10,609 | €6,824 | €363 | €349 | ▼ 3.9% |
| Profit (loss) for the period9904 | €30,213 | €23,839 | €15,939 | -€49,889 | €14,017 | ▲ 128% |
| Profit (loss) for the period to be appropriated9905 | €30,213 | €23,839 | €15,939 | -€49,889 | €14,017 | ▲ 128% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €192,830 | €211,977 | €227,066 | €165,725 | €162,080 | ▼ 2.2% |
| Fixed assets21/28 | €5,075 | €3,989 | €2,903 | €1,816 | €8,939 | ▲ 392% |
| Tangible fixed assets22/27 | €4,985 | €3,899 | €2,813 | €1,726 | €8,849 | ▲ 413% |
| Plant, machinery and equipment23 | - | €385 | €263 | €140 | €18 | ▼ 87.1% |
| Furniture and vehicles24 | - | €3,514 | €2,550 | €1,586 | €4,413 | ▲ 178% |
| Other tangible fixed assets26 | - | - | - | - | €4,418 | - |
| Financial fixed assets28 | €90 | €90 | €90 | €90 | €90 | = |
| Current assets29/58 | €187,755 | €207,989 | €224,163 | €163,909 | €153,141 | ▼ 6.6% |
| Amounts receivable within one year40/41 | €183,091 | €173,915 | €208,582 | €91,087 | €93,322 | ▲ 2.5% |
| Trade receivables40 | - | €77,440 | €132,807 | €12,705 | €8,470 | ▼ 33.3% |
| Other amounts receivable41 | - | €96,475 | €75,775 | €78,382 | €84,852 | ▲ 8.3% |
| Cash at bank and in hand54/58 | €1,989 | €31,977 | €14,791 | €71,639 | €59,249 | ▼ 17.3% |
| Deferred charges and accrued income490/1 | - | €2,097 | €790 | €1,183 | €570 | ▼ 51.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €192,830 | €211,977 | €227,066 | €165,725 | €162,080 | ▼ 2.2% |
| Equity10/15 | €175,778 | €199,616 | €178,866 | €128,978 | €142,995 | ▲ 10.9% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €157,178 | €181,016 | €160,266 | €160,266 | €124,395 | ▼ 22.4% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €179,156 | €158,406 | €160,266 | €124,395 | ▼ 22.4% |
| Profit (loss) carried forward14 | €38,435 | - | - | -€49,889 | - | - |
| Amounts payable17/49 | €17,052 | €12,361 | €48,200 | €36,747 | €19,086 | ▼ 48.1% |
| Amounts payable within one year42/48 | €17,052 | €11,161 | €44,600 | €34,347 | €19,086 | ▼ 44.4% |
| Trade debts44 | €3,324 | €1,207 | €1,553 | €556 | €8,936 | ▲ 1,509% |
| Suppliers440/4 | - | €1,207 | €1,553 | €556 | €8,936 | ▲ 1,509% |
| Taxes, remuneration and social security45 | - | €9,567 | €10,100 | €551 | €1,409 | ▲ 156% |
| Taxes450/3 | - | €9,567 | €10,100 | €551 | €1,409 | ▲ 156% |
| Other amounts payable47/48 | - | €387 | €32,947 | €33,241 | €8,741 | ▼ 73.7% |
| Accrued charges and deferred income492/3 | - | €1,200 | €3,600 | €2,400 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,213 | €23,839 | €15,939 | -€49,889 | €14,017 | ▲ 128% |
| + Depreciation and write-downs630 | €446 | €1,086 | €1,086 | €1,086 | €4,396 | ▲ 305% |
| Operating cash flow (approximation) | €30,658 | €24,925 | €17,025 | -€48,803 | €18,413 | ▲ 138% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€11,519 | - |
| Change in cash | - | €29,988 | -€17,187 | €56,849 | -€12,390 | ▼ 122% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-03
State Gazette act
General meeting · Statutes amendment
Capital · Director resignation · Eric De Bie
2025
11-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Back to profitnet €14,017
Net result €14,017 after one loss-making year.
2024
12-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Weakest financial yearnet -€49,889
Net result drops to -€49,889, the lowest in the series; recovery starts the following year.
2023
14-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
08-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
09-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Highest result since 2019net €30,213 ▲1.5%
Operating result €44,957, net result €30,213, both a record.
30-06
Financial
Equity above €150,000Eq €175,778 ▲20.8%
3 profitable years in a row build equity to €175,778.
2020
10-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
12-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2018
20-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
07-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
08-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Affligem · 1 establishment unit since 2015
Ground area
2,354 m²
Building footprint
317 m²
Volume, LiDAR
2,059 m³
Parcel 23030C0222/00Z003, Flanders · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
COVALGO
since 20152.254.813.894
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23030C0222/00Z003 | Flanders | 2,354 m² | 1 · 317 m² | 10.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
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Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Of 24,517 companies in sector 82990 we hold annual accounts for 9,421. 7,157 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-06-2015
Fiscal year end30-06
Activities, NACEBEL 2025
82990Other business support services
46190Agents in non-specialised wholesale trade
64210Activities of holding companies
68110Buying and selling of own real estate
E-invoicing
Reachable via Peppol
Peppol ID
0208:0632862741
Also
9925:BE0632862741
Registered
03-04-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.