COVARMED FARMA
ActiveCOVARMED FARMA has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.11M and a net result of €310k. Equity is growing by ~17.3% per year across the filed fiscal years. Its solvency ranks better than 73% of 213 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
83
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability92▲+10
Solvency91▲+15
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90k at 30 days acceptable
Liquidity ample (current ratio 3.3 against 2.31 in 2024; short-term debt: 30% and cash: 14% of total assets), and 34.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 32
Relative position
BE, all sectors
reference
Sector 32
lower
← 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
65.7%
Return on assets
18.3%
Age of the figures
12 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 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
93 d early
2023
15 d early
2022
40 d early
2021
95 d early
2020
9 d early
2019
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
17-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.11M▲ 16.8%
2024 · €949k
2018: €376k
2019: €415k
2020: €482k
2021: €455k
2022: €826k
2023: €906k
2024: €949k
2018 → 2025
Total assets
€1.69M▼ 8.7%
2024 · €1.85M
2018: €731k
2019: €1.18M
2020: €1.55M
2021: €1.97M
2022: €1.87M
2023: €1.35M
2024: €1.85M
2018 → 2025
Net result
€310k▲ 60.4%
2024 · €193k
2018: €96k
2019: €509k
2020: €818k
2021: €623k
2022: €735k
2023: €231k
2024: €193k
2018 → 2025
Working capital
€1.17M▲ 12.1%
2024 · €1.04M
2018: €297k
2019: €339k
2020: €426k
2021: €609k
2022: €967k
2023: €1.03M
2024: €1.04M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€455k-€826k▲ 81.4%€906k▲ 9.8%€949k▲ 4.7%€1.11M▲ 16.8%
Operating result€614k-€900k▲ 46.7%€315k▼ 65.1%€257k▼ 18.4%€413k▲ 61.1%
Net result€623k-€735k▲ 18.1%€231k▼ 68.6%€193k▼ 16.3%€310k▲ 60.4%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 61% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.69M
Fixed assets
€17k▲ 8.7%
Current assets
€1.67M▼ 8.9%
Equity and liabilities €1.69M
Equity
€1.11M▲ 16.8%
Debt
€579k▼ 35.6%
The debt ratio falls from 48.7% to 34.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€415k▲
2024 · €260k
Cash flow
€312k▲
2024 · €196k
Solvency
65.7%▲
2024 · 51.3%
Current ratio
3.30▲
2024 · 2.31
Quick ratio
2.99▲
2024 · 2.16
Debt / equity
0.52▼
2024 · 0.95
ROE
27.9%▲
2024 · 20.3%
ROA
18.3%▲
2024 · 10.4%
Interest coverage
53.25▲
2024 · 21.52
Debt
€579k▼
2024 · €900k
Debt ≤ 1 year
€506k▼
2024 · €794k
Debt > 1 year
€73k▼
2024 · €102k
Income taxes
€104k▲
2024 · €65k
Staff costs
€106k▲
2024 · €93k
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€1.85M€1.69M▼
Fixed assets21/28€15k€17k▲
Tangible fixed assets22/27€10k€12k▲
Furniture and vehicles24€1k€677▼
Other tangible fixed assets26€9k€11k▲
Financial fixed assets28€5k€5k=
Current assets29/58€1.83M€1.67M▼
Stocks and contracts in progress3€116k€159k▲
Stocks30/36€116k€159k▲
Amounts receivable within one year40/41€981k€1.27M▲
Trade receivables40€958k€1.24M▲
Other amounts receivable41€23k€23k=
Current investments50/53€550k€0▼
Cash at bank and in hand54/58€187k€236k▲
Deferred charges and accrued income490/1-€9k
Equity and liabilities
Total equity and liabilities10/49€1.85M€1.69M▼
Equity10/15€949k€1.11M▲
Contributions10/11€101k€101k=
Reserves13€849k€1.01M▲
Non-distributable reserves130/1€10k€10k=
Reserves not available under the articles1311€10k€10k=
Tax-exempt reserves132€562€562=
Distributable reserves133€838k€997k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€900k€579k▼
Amounts payable after more than one year17€102k€73k▼
Financial debts170/4€102k€73k▼
Amounts payable within one year42/48€794k€506k▼
Current portion of amounts payable after more than one year42€28k€29k▲
Trade debts44€368k€205k▼
Suppliers440/4€368k€205k▼
Taxes, remuneration and social security45€91k€108k▲
Taxes450/3€73k€88k▲
Remuneration and social security454/9€19k€20k▲
Other amounts payable47/48€306k€165k▼
Accrued charges and deferred income492/3€4k€0▼
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€93k€106k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€2k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€636€1k▲
Other operating charges640/8€3k€3k▲
Gross operating margin9900€356k€525k▲
Operating profit (loss)9901€257k€413k▲
Financial income75/76B€13k€8k▼
Recurring financial income75€13k€8k▼
Financial charges65/66B€12k€8k▼
Recurring financial charges65€12k€8k▼
Profit (loss) for the period before taxes9903€258k€413k▲
Income taxes67/77€65k€104k▲
Profit (loss) for the period9904€193k€310k▲
Profit (loss) for the period to be appropriated9905€193k€310k▲
Appropriation of the result
Profit (loss) to be appropriated9906€193k€310k▲
Transfer to equity691/2€43k€160k▲
To other reserves6921€43k€160k▲
Profit to be distributed694/7€150k€150k=
Return on contributions (dividend)694€150k€150k=
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (17 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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Equity above €1MEq €1.11M ▲16.8%
8 profitable years in a row build equity to €1.11M.
27-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
15-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Liquidity doublescurrent ratio 4.29
Current ratio from 2.09 to 4.29; short-term debt falls from €887k to €312k.
21-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Equity above €500kEq €826k ▲81.4%
5 profitable years in a row build equity to €826k.
25-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
21-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Highest result since 2018net €818k ▲60.7%
Net result €818k, the highest in the series.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
11-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
15-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
17-04-2026
Marketrading: Resigned as Director
17-04-2026
Marketrading: Resigned as Managing director
13-09-2021
Corporalis: Resigned as Director
13-09-2021
Curafin: Resigned as Director
Location & real-estate footprint
Registered office, Kortrijk · 1 establishment unit since 2011
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.
Doenaertstraat(Mar) 118510 KortrijkGround area
7,225 m²
Building footprint
3,114 m²
Volume, LiDAR
28,602 m³
Parcel 34026A0406/00T000, Flanders · tallest building 12.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Covarmed
since 20112.198.882.904
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34026A0406/00T000 | Flanders | 7,225 m² | 1 · 3,114 m² | 12.9 m · 3 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.
Similar companies · same sector, comparable size
POINT DE MIRE- LIEGE-RESEAU Solidaris
BE 0864.604.352
Seraing · Eq €1.11M
Berthold Technologies (Belgium)
BE 0414.444.871
Vilvoorde · Eq €1.13M
EVIEDENT
BE 0681.929.301
Wichelen · Eq €1.08M
DENEWETH B.
BE 0479.884.932
Hooglede · Eq €1.08M
Motion Medical Holding
BE 0785.521.143
Les Bons Villers · Eq €1.07M
Of 1,251 companies in sector 32500 we hold annual accounts for 695. 411 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded30-03-2011
Fiscal year end30-09
Activities, NACEBEL
32500Manufacture of medical and dental instruments and supplies
47730Retail sale of pharmaceutical products
46460Wholesale of pharmaceutical and medical goods
47740Retail trade
47741Retail sale of medical and orthopaedic goods, excluding prescription glasses and lenses
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.