COVALUE
ActiveSummary
COVALUE has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €528,629 and a net result of €121,397. Equity is growing by ~18.6% per year across the filed fiscal years. Its solvency ranks better than 95% of 3787 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability95▼-5
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 12.27 against 10.76 in 2024; short-term debt: 7.9% and cash: 59% of total assets), and 7.9% of the assets are financed with debt.
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Signals
Five 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 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more 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
92.1%
Return on assets
21.1%
Age of the figures
9 mo
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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
31 d early
2023
33 d early
2022
41 d early
2021
44 d early
2020
57 d early
2019
38 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 39 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 53% of the sector filed late.
Checked, nothing found (2)
neutral · 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. Usually files around 29 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€121,397▼ 5.0%
2024 · €127,733
Working capital
€512,764▲ 13.2%
2024 · €452,839
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€122,323▲ 172%€91,239▼ 25.4%€118,613▲ 30.0%€168,096▲ 41.7%€168,566▲ 0.3%
Net result€79,797above the sector's middle half▲ 167%€60,106above the sector's middle half▼ 24.7%€82,038above the sector's middle half▲ 36.5%€127,733above the sector's middle half▲ 55.7%€121,397above the sector's middle half▼ 5.0%
Equity€279,754above the sector's middle half▲ 39.9%€339,860above the sector's middle half▲ 21.5%€421,899above the sector's middle half▲ 24.1%€466,931above the sector's middle half▲ 10.7%€528,629above the sector's middle half▲ 13.2%
Total assets€318,595within the sector's middle half▲ 44.7%€377,207within the sector's middle half▲ 18.4%€448,398within the sector's middle half▲ 18.9%€513,340within the sector's middle half▲ 14.5%€574,107within the sector's middle half▲ 11.8%
Debt€38,841▲ 92.7%€37,347▼ 3.8%€26,500▼ 29.0%€46,409▲ 75.1%€45,478▼ 2.0%
Working capital€265,822above the sector's middle half▲ 43.9%€327,319above the sector's middle half▲ 23.1%€405,863above the sector's middle half▲ 24.0%€452,839above the sector's middle half▲ 11.6%€512,764above the sector's middle half▲ 13.2%
Solvency87.8%above the sector's middle half▼ 3.0pp90.1%above the sector's middle half▲ 2.3pp94.1%above the sector's middle half▲ 4.0pp91.0%above the sector's middle half▼ 3.1pp92.1%above the sector's middle half▲ 1.1pp
Current ratio7.84above the sector's middle half▼ 2.329.76above the sector's middle half▲ 1.9216.32above the sector's middle half▲ 6.5510.76above the sector's middle half▼ 5.5612.27above the sector's middle half▲ 1.52
Return on assets (ROA)25.0%above the sector's middle half▲ 11.5pp15.9%above the sector's middle half▼ 9.1pp18.3%above the sector's middle half▲ 2.4pp24.9%above the sector's middle half▲ 6.6pp21.1%above the sector's middle half▼ 3.7pp
Staff (FTE)0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 0% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €574,107
Fixed assets
€15,864 ▲ 12.6%
Current assets
€558,243 ▲ 11.8%
Equity and liabilities €574,107
Equity
€528,629 ▲ 13.2%
Debt
€45,478 ▼ 2.0%
Debt's share of the balance-sheet total falls from 9.0% to 7.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€170,968▲
2024 · €170,371
Cash flow
€123,799▼
2024 · €130,007
Debt to equity
0.09▼
2024 · 0.10
ROE
23.0%▼
2024 · 27.4%
Interest coverage
88.86▲
2024 · 62.74
Debt ≤ 1 year
€45,478▼
2024 · €46,409
Income taxes
€54,987▼
2024 · €56,975
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,811 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.3%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 1.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 17,811 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 | €2,444 | €2,240 | €1,283 | €2,275 | €2,402 | ▲ 5.6% |
| Other operating charges640/8 | €1,060 | €348 | €447 | €1,542 | €2,245 | ▲ 45.5% |
| Gross operating margin9900 | €125,827 | €93,826 | €120,343 | €171,913 | €173,213 | ▲ 0.8% |
| Operating profit (loss)9901 | €122,323 | €91,239 | €118,613 | €168,096 | €168,566 | ▲ 0.3% |
| Financial income75/76B | €675 | €714 | €1,469 | €19,327 | €9,742 | ▼ 49.6% |
| Recurring financial income75 | €675 | €714 | €1,469 | €19,327 | €9,742 | ▼ 49.6% |
| Financial charges65/66B | €1,247 | €1,429 | €2,119 | €2,716 | €1,924 | ▼ 29.1% |
| Recurring financial charges65 | €1,247 | €1,429 | €2,119 | €2,716 | €1,924 | ▼ 29.1% |
| Profit (loss) for the period before taxes9903 | €121,751 | €90,523 | €117,962 | €184,708 | €176,384 | ▼ 4.5% |
| Income taxes67/77 | €41,954 | €30,417 | €35,924 | €56,975 | €54,987 | ▼ 3.5% |
| Profit (loss) for the period9904 | €79,797 | €60,106 | €82,038 | €127,733 | €121,397 | ▼ 5.0% |
| Transfer from tax-exempt reserves789 | €18,750 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €98,547 | €60,106 | €82,038 | €127,733 | €121,397 | ▼ 5.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €318,595 | €377,207 | €448,398 | €513,340 | €574,107 | ▲ 11.8% |
| Fixed assets21/28 | €13,932 | €12,542 | €16,036 | €14,092 | €15,864 | ▲ 12.6% |
| Tangible fixed assets22/27 | €12,732 | €11,342 | €14,836 | €12,892 | €14,664 | ▲ 13.7% |
| Furniture and vehicles24 | €10,953 | €9,771 | €13,474 | €11,739 | €13,721 | ▲ 16.9% |
| Other tangible fixed assets26 | €1,780 | €1,571 | €1,362 | €1,152 | €943 | ▼ 18.1% |
| Financial fixed assets28 | €1,200 | €1,200 | €1,200 | €1,200 | €1,200 | = |
| Current assets29/58 | €304,663 | €364,666 | €432,363 | €499,248 | €558,243 | ▲ 11.8% |
| Amounts receivable within one year40/41 | €63,310 | €74,850 | €65,809 | €61,593 | €67,731 | ▲ 10.0% |
| Trade receivables40 | €41,012 | €24,351 | €17,211 | €61,582 | €67,731 | ▲ 10.0% |
| Other amounts receivable41 | €22,298 | €50,499 | €48,598 | €11 | €0 | ▼ 100% |
| Current investments50/53 | €82,294 | €82,810 | €143,834 | €290,793 | €146,540 | ▼ 49.6% |
| Cash at bank and in hand54/58 | €159,059 | €207,005 | €220,416 | €142,926 | €338,569 | ▲ 137% |
| Deferred charges and accrued income490/1 | €0 | - | €2,304 | €3,936 | €5,402 | ▲ 37.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €318,595 | €377,207 | €448,398 | €513,340 | €574,107 | ▲ 11.8% |
| Equity10/15 | €279,754 | €339,860 | €421,899 | €466,931 | €528,629 | ▲ 13.2% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €272,560 | €332,560 | €414,560 | €459,560 | €521,257 | ▲ 13.4% |
| Tax-exempt reserves132 | €0 | - | - | - | - | - |
| Distributable reserves133 | €272,560 | €332,560 | €414,560 | €459,560 | €521,257 | ▲ 13.4% |
| Profit (loss) carried forward14 | €994 | €1,100 | €1,139 | €1,171 | €1,172 | = |
| Amounts payable17/49 | €38,841 | €37,347 | €26,500 | €46,409 | €45,478 | ▼ 2.0% |
| Amounts payable within one year42/48 | €38,841 | €37,347 | €26,500 | €46,409 | €45,478 | ▼ 2.0% |
| Current portion of amounts payable after more than one year42 | €2,515 | €0 | - | - | - | - |
| Financial debts43 | - | €2,529 | €2,546 | €2,550 | €2,541 | ▼ 0.3% |
| Credit institutions430/8 | - | €2,529 | €2,546 | €2,550 | €2,541 | ▼ 0.3% |
| Trade debts44 | €6,566 | €14,222 | €4,553 | €3,160 | €4,374 | ▲ 38.4% |
| Suppliers440/4 | €6,566 | €14,222 | €4,553 | €3,160 | €4,374 | ▲ 38.4% |
| Taxes, remuneration and social security45 | €29,760 | €20,596 | €19,401 | €31,249 | €34,745 | ▲ 11.2% |
| Taxes450/3 | €29,760 | €20,596 | €19,401 | €31,249 | €34,745 | ▲ 11.2% |
| Other amounts payable47/48 | - | - | - | €9,451 | €3,819 | ▼ 59.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €79,797 | €60,106 | €82,038 | €127,733 | €121,397 | ▼ 5.0% |
| + Depreciation and write-downs630 | €2,444 | €2,240 | €1,283 | €2,275 | €2,402 | ▲ 5.6% |
| Operating cash flow (approximation) | €82,241 | €62,346 | €83,321 | €130,007 | €123,799 | ▼ 4.8% |
| Investment in fixed assets (approximation) | - | -€849 | -€4,777 | -€330 | -€4,174 | ▼ 1,163% |
| Change in cash | - | €47,946 | €13,411 | -€77,490 | €195,643 | ▲ 352% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €500,000Eq €528,629 ▲13.2%
8 profitable years in a row build equity to €528,629.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €127,733 ▲55.7%
Net result €127,733, the highest in the series.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €200,000Eq €279,754 ▲39.9%
4 profitable years in a row build equity to €279,754.
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €29,904 ▼49.9%
Net result drops to €29,904, the lowest in the series; recovery starts the following year.
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity triplescurrent ratio 7.50
Current ratio from 2.56 to 7.50; short-term debt falls from €93,922 to €31,603.
Show earlier events
31-12
Financial
Equity above €200,000Eq €220,053 ▲37.2%
2 profitable years in a row build equity to €220,053.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 59 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Gembloux · 1 establishment unit since 2009
Ground area
1,276 m²
Building footprint
164 m²
Parcel 92056E0551/00M000, Wallonia. Linked by address, not a title deed.
1 establishment unit
COVALUE
since 20092.181.959.966
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92056E0551/00M000 | Wallonia | 1,275 m² | 1 · 164 m² | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteGembloux2.181.959.966
Legal Entity Identifier
699400BLNKJWU3VWO369
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Of 7,494 companies in this sector we hold annual accounts for 2,452. 1,277 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company (pre-2019)
Founded09-10-2009
Fiscal year end31-12
Activities, NACEBEL 2025
56210Event catering
70200Business and other management consultancy
73200Market research and public opinion polling
E-invoicing
Reachable via Peppol
Peppol ID
0208:0819471341
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.