COVAME
Open bankruptcyFinancials · financial year 2022, micro format
Equity
-€330,731▼ 18.1%
2021 · -€280,005
Total assets
€560,795▼ 5.8%
2021 · €595,584
Net result
-€50,726▼ 0.5%
2021 · -€50,484
Working capital
-€386,250▼ 16.2%
2021 · -€332,331
Trend over the years
2019 to 2022, 4 financial years 2019 to 2022, 4 financial years
The operating result stays negative: a loss of €31,294 in 2022 against €31,456 in 2021; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€31,294
2022
Net result-€50,726
2022
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€560,795
2022
Equity-€330,731
2022
Debt€891,526
2022
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€386,250
2022
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-9.0%
2022
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-59.0%
2022
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.01
2022
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 56, Food and beverage service activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. 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 financial year before
favourable
unfavourable
Line2019202020212022
Operating result-€2,738--€423▲ 84.6%-€31,456▼ 7,336%-€31,294▲ 0.5%
Net result-€22,393--€21,011below the sector's middle half▲ 6.2%-€50,484below the sector's middle half▼ 140%-€50,726below the sector's middle half▼ 0.5%
Equity-€208,510--€229,521below the sector's middle half▼ 10.1%-€280,005below the sector's middle half▼ 22.0%-€330,731below the sector's middle half▼ 18.1%
Total assets€656,114-€629,869above the sector's middle half▼ 4.0%€595,584above the sector's middle half▼ 5.4%€560,795above the sector's middle half▼ 5.8%
Debt€864,624-€859,390▼ 0.6%€875,589▲ 1.9%€891,526▲ 1.8%
Working capital-€287,526--€284,003below the sector's middle half▲ 1.2%-€332,331below the sector's middle half▼ 17.0%-€386,250below the sector's middle half▼ 16.2%
Solvency-31.8%--36.4%below the sector's middle half▼ 4.7pp-47.0%below the sector's middle half▼ 10.6pp-59.0%below the sector's middle half▼ 12.0pp
Current ratio0.01-0.01below the sector's middle half▼ 0.010.01below the sector's middle half=0.01below the sector's middle half=
Return on assets (ROA)-3.4%--3.3%within the sector's middle half▲ 0.1pp-8.5%below the sector's middle half▼ 5.1pp-9.0%within the sector's middle half▼ 0.6pp
above
within
below
the middle half of NACE 56, Food and beverage service activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €560,795
Fixed assets
€556,353 ▼ 6.2%
Current assets
€4,442 ▲ 72.2%
Equity and liabilities
Equity-€330,731
Debt€891,526
Equity is negative: debt (€891,526) exceeds the balance-sheet total (€560,795).
Key figures and ratios
EBITDA
€6,837▲
2021 · €6,154
Cash flow
-€12,595▲
2021 · -€12,874
Quick ratio
0.01▲
2021 · 0.00
Interest coverage
0.35
Debt ≤ 1 year
€390,692▲
2021 · €334,910
Debt > 1 year
€500,834▼
2021 · €540,679
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39,114 | €38,722 | €37,610 | €38,131 | ▲ 1.4% |
| Other operating charges640/8 | - | - | - | €8,166 | - |
| Gross operating margin9900 | €36,505 | €41,232 | €9,197 | €15,003 | ▲ 63.1% |
| Operating profit (loss)9901 | -€2,738 | -€423 | -€31,456 | -€31,294 | ▲ 0.5% |
| Financial charges65/66B | - | - | - | €19,432 | - |
| Recurring financial charges65 | €19,655 | €20,588 | €19,028 | €19,432 | ▲ 2.1% |
| Profit (loss) for the period before taxes9903 | -€22,393 | -€21,011 | -€50,484 | -€50,726 | ▼ 0.5% |
| Profit (loss) for the period9904 | -€22,393 | -€21,011 | -€50,484 | -€50,726 | ▼ 0.5% |
| Profit (loss) for the period to be appropriated9905 | -€22,393 | -€21,011 | -€50,484 | -€50,726 | ▼ 0.5% |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €656,114 | €629,869 | €595,584 | €560,795 | ▼ 5.8% |
| Fixed assets21/28 | €651,798 | €627,264 | €593,005 | €556,353 | ▼ 6.2% |
| Tangible fixed assets22/27 | €647,198 | €622,664 | €588,405 | €551,753 | ▼ 6.2% |
| Land and buildings22 | - | - | - | €515,177 | - |
| Plant, machinery and equipment23 | - | - | - | €36,576 | - |
| Financial fixed assets28 | €4,600 | €4,600 | €4,600 | €4,600 | = |
| Current assets29/58 | €4,316 | €2,605 | €2,579 | €4,442 | ▲ 72.2% |
| Stocks and contracts in progress3 | €1,610 | €1,451 | €1,265 | €1,344 | ▲ 6.2% |
| Stocks30/36 | - | - | - | €1,344 | - |
| Amounts receivable within one year40/41 | - | €709 | €977 | €2,391 | ▲ 145% |
| Other amounts receivable41 | - | - | - | €2,391 | - |
| Cash at bank and in hand54/58 | €2,706 | €445 | €337 | €707 | ▲ 110% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €656,114 | €629,869 | €595,584 | €560,795 | ▼ 5.8% |
| Equity10/15 | -€208,510 | -€229,521 | -€280,005 | -€330,731 | ▼ 18.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | - | €18,600 | - |
| Other1109/19 | - | - | - | €18,600 | - |
| Profit (loss) carried forward14 | -€227,110 | -€248,121 | -€298,605 | -€349,331 | ▼ 17.0% |
| Amounts payable17/49 | €864,624 | €859,390 | €875,589 | €891,526 | ▲ 1.8% |
| Amounts payable after more than one year17 | €572,782 | €572,782 | €540,679 | €500,834 | ▼ 7.4% |
| Financial debts170/4 | - | - | - | €500,834 | - |
| Amounts payable within one year42/48 | €291,842 | €286,608 | €334,910 | €390,692 | ▲ 16.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €37,386 | - |
| Financial debts43 | - | - | - | €22,321 | - |
| Credit institutions430/8 | - | - | - | €22,321 | - |
| Trade debts44 | €59,252 | €80,962 | €82,393 | €109,573 | ▲ 33.0% |
| Suppliers440/4 | - | - | - | €109,573 | - |
| Taxes, remuneration and social security45 | - | - | - | €5,688 | - |
| Taxes450/3 | - | - | - | €288 | - |
| Remuneration and social security454/9 | - | - | - | €5,400 | - |
| Other amounts payable47/48 | - | - | - | €215,724 | - |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€22,393 | -€21,011 | -€50,484 | -€50,726 | ▼ 0.5% |
| + Depreciation and write-downs630 | €39,114 | €38,722 | €37,610 | €38,131 | ▲ 1.4% |
| Operating cash flow (approximation) | €16,721 | €17,711 | -€12,874 | -€12,595 | ▲ 2.2% |
| Investment in fixed assets (approximation) | - | -€14,188 | -€3,351 | -€1,479 | ▲ 55.9% |
| Change in cash | - | -€2,261 | -€108 | €370 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2022 | micro format | 26-01-2023 | 2023-00004189 |
| 30-06-2021 | micro format | 22-01-2022 | 2022-02000067 |
| 30-06-2020 | micro format | 30-12-2020 | 2020-77500378 |
| 30-06-2019 | micro format | 24-01-2020 | 2020-02100160 |
| 30-06-2018 | micro format | 27-01-2019 | 2019-03900453 |
| 30-06-2016 | abbreviated format | 30-01-2017 | 2017-02600241 |
| 30-06-2015 | abbreviated format | 22-01-2016 | 2016-02400210 |
| 30-06-2014 | abbreviated format | 27-01-2015 | 2015-02500252 |
| 30-06-2013 | abbreviated format | 31-01-2014 | 2014-02200179 |
| 30-06-2012 | abbreviated format | 30-01-2013 | 2013-01800463 |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of the 21,397 active companies whose main activity is limited-service restaurants, excluding mobile food services (NACE 56112), figures are known for 9,821. See the whole sector
Subsidies and aid
Flemish government
2022 · 1 entry · €2,000 awarded · €2,000 paidSchemes
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.