COVALIM

Active

Public limited companyfounded 198936 yrs activeVaartstraat 27, 3600 Genk, BelgiumKBO/BCE: BE 0439.193.333

Summary

COVALIM has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.3m and a net result of €43,655. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 66% of 312 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysis Watch Report Compare

COVALIMActiveChecked score 70/100

Risk analysis Report Compare

Checked score

Score 2025

70 / 100

Healthy

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability70▲+5

Solvency77▼-2

Growth42=

Track record100

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €220,000 at 30 days acceptable

Liquidity ample (current ratio 1.94 against 2.14 in 2024; short-term debt: 48.4% and cash: 4.8% of total assets), and 48.4% of the assets are financed with debt.

Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Four signals. The signal on the left, the evidence on the right.

−lowers risk○neutral

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

51.6%

Return on assets

0.7%

Age of the figures

9 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-07-2026, 28 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

28 d early

2024

24 d early

2023

21 d early

2022

33 d early

2021

37 d early

2020

38 d early

2019

32 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 30 days before the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 32% of the sector filed late.

Checked, nothing found (2)

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

28-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

On 1 December 1989, COVALIM was incorporated.¹ Revenue went from EUR 9.1 million in 2018 to EUR 7.3 million in 2024 and headcount from 13.2 full-time equivalents in 2018 to 9.3 in 2025.²

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark

Is this your company? See how customers and banks see it.

Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, full schema

Turnover

€7.3m▲ 0.9%

2023 · €7.2m

EBIT margin

5.7%▼ 1.7pp

2023 · 7.4%

Net result

€43,655▼ 86.5%

2024 · €323,378

Working capital

€2.9m▼ 7.4%

2024 · €3.1m

Trend over the years

Chart Table

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 28, Manufacture of machinery and equipment not elsewhere classified, 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

Turnover€5.8m▲ 8.2%€7.1m▲ 24.0%€7.2m▲ 1.3%€7.3m▲ 0.9%

Operating result€206,486▼ 2.8%€245,267▲ 18.8%€534,763▲ 118%€417,646▼ 21.9%€63,425▼ 84.8%

Net result€150,825▼ 2.3%€181,196▲ 20.1%€401,279▲ 121%€323,378▼ 19.4%€43,655▼ 86.5%

EBIT margin3.6%▼ 0.4pp3.4%▼ 0.2pp7.4%▲ 4.0pp5.7%▼ 1.7pp

Equity€2.3m▲ 2.3%€2.5m▲ 7.8%€2.9m▲ 16.0%€3.2m▲ 11.1%€3.3m▲ 1.4%

Total assets€4.4m▼ 1.0%€5.6m▲ 26.9%€6.2m▲ 10.9%€6.0m▼ 3.1%€6.3m▲ 6.0%

Debt€2.1m▼ 4.4%€3.1m▲ 48.4%€3.3m▲ 6.8%€2.8m▼ 15.7%€3.1m▲ 11.4%

Working capital€2.3m▲ 7.9%€2.5m▲ 8.7%€2.9m▲ 16.9%€3.1m▲ 8.1%€2.9m▼ 7.4%

Solvency53.0%▲ 1.7pp45.0%▼ 8.0pp47.1%▲ 2.1pp54.0%▲ 6.9pp51.6%▼ 2.3pp

Staff (FTE)13=12.5▼ 3.8%12▼ 4.0%10.7▼ 10.8%9.3▼ 13.1%

above within below the middle half (P25 to P75) of NACE 28, Manufacture of machinery and equipment not elsewhere classified, each year against the same schema; no band under 30 filings.

Result per fiscal year

Operating resultNet result

The operating result has fallen two years in a row; 2025 is 85% below 2024 and is the lowest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €6.3m

94.0%

Fixed assets €378,001 ▲ 273%

Current assets €6.0m ▲ 1.4%

Equity and liabilities €6.3m

51.6%

48.4%

Equity €3.3m ▲ 1.4%

Debt €3.1m ▲ 11.4%

Debt's share of the balance-sheet total rises from 46.0% to 48.4%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€68,528▼

2024 · €425,671

Cash flow

€48,757▼

2024 · €331,403

Current ratio

1.94▼

2024 · 2.14

Quick ratio

1.19▼

2024 · 1.22

Debt to equity

0.94▲

2024 · 0.85

ROE

1.3%▼

2024 · 10.0%

ROA

0.7%▼

2024 · 5.4%

Interest coverage

35.33▼

2024 · 236.12

Debt ≤ 1 year

€3.1m▲

2024 · €2.8m

Income taxes

€18,881▼

2024 · €112,453

Staff costs

€593,827▼

2024 · €686,543

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 17,027 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.

Micro
20 years or older
solvency 30% or more
a profit under 5% of the balance sheet

0.5% went bankrupt

4.9% stopped otherwise

94% still going

A further 0.3% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
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%	1.7%
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 75% 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 17,027 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

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 60 lines

Balance sheet Code20242025

Assets

Total assets20/58€6.0m€6.3m▲

Fixed assets21/28€101,415€378,001▲

Tangible fixed assets22/27€101,415€378,001▲

Plant, machinery and equipment23€101,415€378,001▲

Current assets29/58€5.9m€6.0m▲

Stocks and contracts in progress3€2.5m€2.3m▼

Stocks30/36€2.5m€2.3m▼

Work in progress32€2.5m-

Amounts receivable within one year40/41€3.1m€3.3m▲

Trade receivables40€2.0m€1.8m▼

Other amounts receivable41€1.1m€1.5m▲

Cash at bank and in hand54/58€286,151€305,010▲

Equity and liabilities

Total equity and liabilities10/49€6.0m€6.3m▲

Equity10/15€3.2m€3.3m▲

Contributions10/11€1.2m€1.2m=

Capital10€1.2m€1.2m=

Issued capital100€1.2m€1.2m=

Reserves13€2.0m€2.1m▲

Non-distributable reserves130/1€119,623€119,623=

Legal reserve130€119,623€119,623=

Distributable reserves133€1.9m€2.0m▲

Amounts payable17/49€2.8m€3.1m▲

Amounts payable within one year42/48€2.8m€3.1m▲

Trade debts44€525,978€338,515▼

Suppliers440/4€525,978€338,515▼

Taxes, remuneration and social security45€179,447€168,399▼

Taxes450/3€82,202€84,014▲

Remuneration and social security454/9€97,245€84,385▼

Other amounts payable47/48€2.1m€2.6m▲

Income statement Code20242025

Operating income70/76A€7.6m-

Turnover70€7.3m-

Change in stocks of work in progress, finished goods and contracts in progress71€263,420-

Other operating income74€32,792-

Operating charges60/66A€7.2m-

Goods for resale, raw materials and consumables60€5.6m-

Purchases600/8€5.6m-

Services and other goods61€806,931-

Remuneration, social security and pensions62€686,543€593,827▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8,025€5,103▼

Other operating charges640/8€40,340€41,030▲

Gross operating margin9900-€703,385

Operating profit (loss)9901€417,646€63,425▼

Financial income75/76B€19,988€1,049▼

Recurring financial income75€19,988€1,049▼

Income from current assets751€17,401-

Other financial income752/9€2,587-

Financial charges65/66B€1,803€1,939▲

Recurring financial charges65€1,803€1,939▲

Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651-€516-

Other financial charges652/9€2,319-

Profit (loss) for the period before taxes9903€435,831€62,535▼

Income taxes67/77€112,453€18,881▼

Taxes670/3€112,580-

Tax adjustments and reversals of tax provisions77€127-

Profit (loss) for the period9904€323,378€43,655▼

Profit (loss) for the period to be appropriated9905€323,378€43,655▼

Appropriation of the result

Profit (loss) to be appropriated9906€323,378€43,655▼

Transfer to equity691/2€323,378€43,655▼

To other reserves6921€323,378€43,655▼

Social balance

Average headcount (FTE)908710.79.3▼

The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Operating income70/76A	€5.3m	€7.7m	€7.0m	€7.6m	-	-
Turnover70	€5.8m	€7.1m	€7.2m	€7.3m	-	-
Change in stocks of work in progress, finished goods and contracts in progress71	-€437,626	€523,496	-€309,758	€263,420	-	-
Other operating income74	€8,110	€6,926	€6,950	€32,792	-	-
Non-recurring operating income76A	-	-	€20,000	-	-	-
Operating charges60/66A	€5.1m	€7.4m	€6.4m	€7.2m	-	-
Goods for resale, raw materials and consumables60	€3.7m	€6.0m	€4.9m	€5.6m	-	-
Purchases600/8	€3.7m	€6.0m	€4.9m	€5.6m	-	-
Services and other goods61	€700,204	€689,374	€724,224	€806,931	-	-
Remuneration, social security and pensions62	€676,851	€681,987	€697,103	€686,543	€593,827	▼ 13.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€19,907	€17,682	€17,644	€8,025	€5,103	▼ 36.4%
Other operating charges640/8	€31,288	€37,824	€39,746	€40,340	€41,030	▲ 1.7%
Gross operating margin9900	-	-	-	-	€703,385	-
Operating profit (loss)9901	€206,486	€245,267	€534,763	€417,646	€63,425	▼ 84.8%
Financial income75/76B	€19	€1,831	€8,038	€19,988	€1,049	▼ 94.7%
Recurring financial income75	€19	€1,831	€8,038	€19,988	€1,049	▼ 94.7%
Income from current assets751	-	-	€5,962	€17,401	-	-
Other financial income752/9	€19	€1,831	€2,076	€2,587	-	-
Financial charges65/66B	€1,171	€1,399	€1,927	€1,803	€1,939	▲ 7.6%
Recurring financial charges65	€1,171	€1,399	€1,927	€1,803	€1,939	▲ 7.6%
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651	-€284	-€202	-	-€516	-	-
Other financial charges652/9	€1,454	€1,601	€1,927	€2,319	-	-
Profit (loss) for the period before taxes9903	€205,334	€245,699	€540,874	€435,831	€62,535	▼ 85.7%
Income taxes67/77	€54,509	€64,503	€139,595	€112,453	€18,881	▼ 83.2%
Taxes670/3	€54,640	€64,503	€139,595	€112,580	-	-
Tax adjustments and reversals of tax provisions77	€131	-	-	€127	-	-
Profit (loss) for the period9904	€150,825	€181,196	€401,279	€323,378	€43,655	▼ 86.5%
Profit (loss) for the period to be appropriated9905	€150,825	€181,196	€401,279	€323,378	€43,655	▼ 86.5%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€4.4m	€5.6m	€6.2m	€6.0m	€6.3m	▲ 6.0%
Fixed assets21/28	€46,702	€29,020	€11,376	€101,415	€378,001	▲ 273%
Tangible fixed assets22/27	€46,702	€29,020	€11,376	€101,415	€378,001	▲ 273%
Plant, machinery and equipment23	€46,702	€29,020	€11,376	€101,415	€378,001	▲ 273%
Current assets29/58	€4.3m	€5.5m	€6.2m	€5.9m	€6.0m	▲ 1.4%
Stocks and contracts in progress3	€2.0m	€2.6m	€2.3m	€2.5m	€2.3m	▼ 7.4%
Stocks30/36	€2.0m	€2.6m	€2.3m	€2.5m	€2.3m	▼ 7.4%
Work in progress32	€2.0m	€2.6m	€2.3m	€2.5m	-	-
Amounts receivable within one year40/41	€1.7m	€2.9m	€2.7m	€3.1m	€3.3m	▲ 8.0%
Trade receivables40	€1.7m	€2.2m	€2.1m	€2.0m	€1.8m	▼ 9.6%
Other amounts receivable41	€4,051	€673,921	€658,662	€1.1m	€1.5m	▲ 39.5%
Current investments50/53	-	-	€1.0m	-	-	-
Other investments51/53	-	-	€1.0m	-	-	-
Cash at bank and in hand54/58	€592,848	€126,178	€185,319	€286,151	€305,010	▲ 6.6%
Equity and liabilities
Total equity and liabilities10/49	€4.4m	€5.6m	€6.2m	€6.0m	€6.3m	▲ 6.0%
Equity10/15	€2.3m	€2.5m	€2.9m	€3.2m	€3.3m	▲ 1.4%
Contributions10/11	€1.2m	€1.2m	€1.2m	€1.2m	€1.2m	=
Capital10	€1.2m	€1.2m	€1.2m	€1.2m	€1.2m	=
Issued capital100	€1.2m	€1.2m	€1.2m	€1.2m	€1.2m	=
Reserves13	€1.1m	€1.3m	€1.7m	€2.0m	€2.1m	▲ 2.1%
Non-distributable reserves130/1	€119,623	€119,623	€119,623	€119,623	€119,623	=
Legal reserve130	€119,623	€119,623	€119,623	€119,623	€119,623	=
Distributable reserves133	€1.0m	€1.2m	€1.6m	€1.9m	€2.0m	▲ 2.3%
Amounts payable17/49	€2.1m	€3.1m	€3.3m	€2.8m	€3.1m	▲ 11.4%
Amounts payable within one year42/48	€2.1m	€3.1m	€3.3m	€2.8m	€3.1m	▲ 11.4%
Trade debts44	€497,427	€475,688	€549,071	€525,978	€338,515	▼ 35.6%
Suppliers440/4	€497,427	€475,688	€549,071	€525,978	€338,515	▼ 35.6%
Taxes, remuneration and social security45	€170,106	€114,132	€193,992	€179,447	€168,399	▼ 6.2%
Taxes450/3	€68,468	€14,545	€88,700	€82,202	€84,014	▲ 2.2%
Remuneration and social security454/9	€101,637	€99,587	€105,291	€97,245	€84,385	▼ 13.2%
Other amounts payable47/48	€1.4m	€2.5m	€2.5m	€2.1m	€2.6m	▲ 25.0%

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€150,825	€181,196	€401,279	€323,378	€43,655	▼ 86.5%
+ Depreciation and write-downs630	€19,907	€17,682	€17,644	€8,025	€5,103	▼ 36.4%
Operating cash flow (approximation)	€170,733	€198,878	€418,923	€331,403	€48,757	▼ 85.3%
Investment in fixed assets (approximation)	-	€0	€0	-€98,064	-€281,688	▼ 187%
Change in cash	-	-€466,670	€59,141	€100,832	€18,859	▼ 81.3%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 13Financial 2Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

28-07

State Gazette act Reappointment: Moore Audit BV (statutory auditor)

Permanent representatives: Katleen Segers and Koen Van Looke5 facts ▸

General meeting, 12-06-2026
Auditor reappointment, Moore Audit BV (statutory auditor)
Permanent representative, Katleen Segers (permanent representative)
Director in office, VVL MANAGEMENT BV ((gedelegeerd) bestuurder)
Permanent representative, Koen Van Looke (permanent representative)

03-07

NBB filing Annual accounts filed

fiscal year 2025 · full schema

2025

31-12

Financial Weakest financial yearnet €43,655 ▼86.5%

Net result drops to €43,655, the lowest in the series.

07-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

10-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-12

Financial Highest result since 2018net €401,279 ▲121%

Operating result €534,763, net result €401,279, both a record.

28-06

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

24-06

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

23-06

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

29-06

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

08-07

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

29-06

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

31-07

NBB filing Annual accounts filed

fiscal year 2016 · full schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

1 of 13 acts read

About the unread acts

Of the 13 Belgian State Gazette acts we know for this company, 1 has been read. The other 12 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors

Statutory auditor 1

Moore Audit

Statutory auditor · since 28-07-2026 · perm. rep.: Katleen Segers

Current

Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →

Location & real-estate footprint

Registered office, Genk · 1 establishment unit since 1990

seat establishment The establishment unit on the map

Ground area

6,398 m²

Building footprint

1.4 ha

Volume, LiDAR

146,337 m³

Parcel 71305F1320/00H000, Flanders · tallest building 15.7 m, ±3 floors. Linked by address, not a title deed.

2 companies at this address See who is registered here

1 establishment unit

COVALIM

Vaartstraat 27, 3600 GenkManufacture of machinery and equipment not elsewhere classified

since 19902.046.394.944

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
71305F1320/00H000	Flanders	6,398 m²	1 · 1.4 ha	15.7 m · 3 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.

Mandate history

1 person since 2026, 1 in office

All 1 In office 1

Statutory auditor

Mandates per person, with start and end dates
Name	Functions and periods
Moore Audit	Statutory auditor, from 28-07-2026 to date

See the board, name and seat on a given date →

Structure & network

Owners and holdings

1 owner

Chain of control

CEI 69.3%
Group Coek 100%
COVALIM

Highest known parent: CEI. The sources do not say who stands above it.

Owners 1

Group Coekparent

Sourceaccounts Group Coek 2025

100%

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Public money · subsidies and aid

Flemish government

2025 · 1 entry · 215 EUR awarded · 215 EUR paid

Year	Entries	awarded	paid
2025	1	215 EUR	215 EUR

Schemes

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

1 entry · 215 EUR · 215 EUR paid · Fonds voor Innoveren en Ondernemen

Similar companies · same sector, comparable size

Of 136 companies in sector 28410 we hold annual accounts for 107. 73 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification

Legal formPublic limited company

Founded01-12-1989

Fiscal year end31-12

Activities, NACEBEL 2025

25220Manufacture of fabricated metal products, except machinery and equipment

28410Manufacture of machinery and equipment not elsewhere classified

E-invoicing

Reachable via Peppol

Peppol ID 0208:0439193333

Also 9925:BE0439193333

Registered 18-09-2025

Scores and ratios are computed by Checked and are not a credit decision.