Covameat
ActiveCovameat has been active since 1969 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €20.74M and a net result of €5.87M. Equity is growing by ~5.1% per year across the filed fiscal years. Its solvency ranks better than 74% of 643 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability73▲+6
Solvency84▲+10
Growth69▲+14
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.45M at 30 days acceptable
Liquidity ample (current ratio 1.87 against 1.41 in 2024; short-term debt: 40.8% and cash: 1.4% of total assets), and 41.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Sector 10
higher
← 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
58.9%
Return on assets
16.7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 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
21 d late
2024
12 d late
2023
27 d late
2022
28 d late
2021
17 d late
2020
26 d late
2019
27 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€179.15M▲ 8.8%
2024 · €164.71M
2018: €121.66M
2019: €145.17M
2020: €141.55M
2021: €124.82M
2022: €151.16M
2023: €176.47M
2024: €164.71M
2018 → 2025
EBIT margin
4.4%▲ 1.4pp
2024 · 2.9%
2018: 2.8%
2019: 2.3%
2020: 3.1%
2021: 2.7%
2022: 1.6%
2023: 2.6%
2024: 2.9%
2018 → 2025
Net result
€5.87M▲ 56.4%
2024 · €3.75M
2018: €2.28M
2019: €2.40M
2020: €3.31M
2021: €2.70M
2022: €1.71M
2023: €3.58M
2024: €3.75M
2018 → 2025
Working capital
€12.44M▲ 82.7%
2024 · €6.81M
2018: €5.47M
2019: €2.94M
2020: €6.97M
2021: €9.95M
2022: €10.52M
2023: €14.22M
2024: €6.81M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€124.82M-€151.16M▲ 21.1%€176.47M▲ 16.7%€164.71M▼ 6.7%€179.15M▲ 8.8%
Equity€18.91M-€20.59M▲ 8.9%€24.15M▲ 17.3%€16.20M▼ 32.9%€20.74M▲ 28.1%
Operating result€3.41M-€2.47M▼ 27.6%€4.62M▲ 87.0%€4.83M▲ 4.5%€7.84M▲ 62.4%
Net result€2.70M-€1.71M▼ 36.8%€3.58M▲ 110%€3.75M▲ 4.8%€5.87M▲ 56.4%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 62% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €35.20M
Fixed assets
€8.41M▼ 11.3%
Current assets
€26.79M▲ 13.8%
Equity and liabilities €35.20M
Equity
€20.74M▲ 28.1%
Provisions
€74k▲ 600%
Debt
€14.39M▼ 14.4%
The debt ratio falls from 50.9% to 40.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9.05M▲
2024 · €6.07M
Cash flow
€7.09M▲
2024 · €5.00M
Solvency
58.9%▲
2024 · 49.0%
Current ratio
1.87▲
2024 · 1.41
Quick ratio
1.82▲
2024 · 1.36
Debt / equity
0.69▼
2024 · 1.04
ROE
28.3%▲
2024 · 23.2%
ROA
16.7%▲
2024 · 11.4%
Interest coverage
104.95▲
2024 · 91.55
Debt
€14.39M▼
2024 · €16.81M
Debt ≤ 1 year
€14.36M▼
2024 · €16.74M
Income taxes
€1.97M▲
2024 · €1.28M
Staff costs
€8.46M▲
2024 · €7.31M
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€33.02M€35.20M▲
Fixed assets21/28€9.47M€8.41M▼
Tangible fixed assets22/27€9.47M€8.40M▼
Land and buildings22€5.54M€5.12M▼
Plant, machinery and equipment23€3.39M€2.79M▼
Furniture and vehicles24€61k€31k▼
Other tangible fixed assets26€484k€462k▼
Financial fixed assets28-€2k
Other financial fixed assets284/8-€2k
Amounts receivable and cash guarantees285/8-€2k
Current assets29/58€23.55M€26.79M▲
Stocks and contracts in progress3€715k€724k▲
Stocks30/36€715k€724k▲
Raw materials and consumables30/31€133k€131k▼
Work in progress32€448k€388k▼
Finished goods33€135k€206k▲
Amounts receivable within one year40/41€22.83M€25.55M▲
Trade receivables40€21.69M€19.05M▼
Other amounts receivable41€1.14M€6.50M▲
Cash at bank and in hand54/58€3k€500k▲
Deferred charges and accrued income490/1-€22k
Equity and liabilities
Total equity and liabilities10/49€33.02M€35.20M▲
Equity10/15€16.20M€20.74M▲
Contributions10/11€2.46M€2.46M=
Capital10€2.46M€2.46M=
Issued capital100€2.46M€2.46M=
Revaluation surpluses12€35k€35k=
Reserves13€13.66M€18.21M▲
Non-distributable reserves130/1€246k€246k=
Legal reserve130€246k€246k=
Tax-exempt reserves132€9.67M€8.95M▼
Distributable reserves133€3.74M€9.01M▲
Investment grants15€45k€38k▼
Provisions and deferred taxes16€11k€74k▲
Provisions for liabilities and charges160/5€10k€74k▲
Pensions and similar obligations160€861-
Other liabilities and charges164/5€9k€74k▲
Deferred taxes168€568€225▼
Amounts payable17/49€16.81M€14.39M▼
Amounts payable within one year42/48€16.74M€14.36M▼
Trade debts44€8.46M€10.98M▲
Suppliers440/4€8.46M€10.98M▲
Taxes, remuneration and social security45€1.55M€1.75M▲
Taxes450/3€216k€157k▼
Remuneration and social security454/9€1.34M€1.59M▲
Other amounts payable47/48€6.73M€1.63M▼
Accrued charges and deferred income492/3€77k€30k▼
Income statement
Code20242025
Operating income70/76A€165.14M€179.32M▲
Turnover70€164.71M€179.15M▲
Change in stocks of work in progress, finished goods and contracts in progress71€264k€11k▼
Other operating income74€166k€161k▼
Non-recurring operating income76A€1k-
Operating charges60/66A€160.32M€171.48M▲
Goods for resale, raw materials and consumables60€142.28M€148.85M▲
Purchases600/8€142.32M€148.85M▲
Change in stocks: decrease (increase)609€-42k€2k▲
Services and other goods61€9.39M€12.81M▲
Remuneration, social security and pensions62€7.31M€8.46M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.24M€1.21M▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€3k€-4k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-6k€64k▲
Other operating charges640/8€100k€92k▼
Operating profit (loss)9901€4.83M€7.84M▲
Financial income75/76B€325k€153k▼
Recurring financial income75€320k€133k▼
Income from current assets751€64k€26k▼
Other financial income752/9€256k€107k▼
Non-recurring financial income76B€5k€20k▲
Financial charges65/66B€118k€144k▲
Recurring financial charges65€117k€143k▲
Debt charges650€66k€86k▲
Other financial charges652/9€51k€57k▲
Non-recurring financial charges66B€292€441▲
Profit (loss) for the period before taxes9903€5.03M€7.85M▲
Transfer from deferred taxes780€362€343▼
Income taxes67/77€1.28M€1.97M▲
Taxes670/3€1.28M€1.97M▲
Tax adjustments and reversals of tax provisions77€5k€2k▼
Profit (loss) for the period9904€3.75M€5.87M▲
Transfer from tax-exempt reserves789-€1.72M
Transfer to tax-exempt reserves689-€998k
Profit (loss) for the period to be appropriated9905€3.75M€6.60M▲
Appropriation of the result
Profit (loss) to be appropriated9906€3.75M€6.60M▲
Transfer from equity791/2€11.68M-
From reserves792€11.68M-
Transfer to equity691/2€3.74M€5.27M▲
To other reserves6921€3.74M€5.27M▲
Profit to be distributed694/7€11.70M€1.32M▼
Return on contributions (dividend)694€11.68M-
Directors or managers695-€1.30M
Employees696€19k€23k▲
Social balance
Average headcount (FTE)9087147.7153.2▲
The notes to these accounts (65 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 21 days late
2025
31-12
Financial
Highest result since 2018net €5.87M ▲56.4%
Operating result €7.84M, net result €5.87M, both a record.
12-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 12 days late
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 27 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
31-12
Financial
Weakest financial yearnet €1.71M ▼36.8%
Net result drops to €1.71M, the lowest in the series; recovery starts the following year.
17-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 17 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 26 days late
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 27 days late
2019
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 21 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 24 days late
2017
17-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
17 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, Heuvelland · 1 establishment unit since 1970
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.
Komenstraat(Wijtsch) 738953 HeuvellandGround area
2.4 ha
Building footprint
1.1 ha
Volume, LiDAR
70,167 m³
Parcel 33032D0864/00R004, Flanders · tallest building 13.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Komenstraat(Wijtsch) 73, 8953 Heuvelland
since 19702.004.028.413
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33032D0864/00R004 | Flanders | 2.4 ha | 1 · 1.1 ha | 13.7 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 · 6 entries · 41,434 EUR awarded · 41,434 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 4,362 EUR | 4,362 EUR |
| 2024 | 2 | 11,867 EUR | 11,867 EUR |
| 2023 | 1 | 14,183 EUR | 14,183 EUR |
| 2022 | 1 | 11,022 EUR | 11,022 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Food safety, FASFC
1 siteHeuvelland2.004.028.413
Legal Entity Identifier
549300PGA4OTFGEPOC53
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Of 599 companies in sector 10111 we hold annual accounts for 329. 48 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded16-06-1969
Fiscal year end31-12
Activities, NACEBEL
10110Manufacture of food products
10111Manufacture of food products
15111
46321Wholesale of meat and meat products, excluding game and poultry
51321
Sources
Crossroads Bank for EnterprisesNational Bank · 48 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.