COVAS
ActiveSummary
COVAS has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €205,860 and a net result of -€17,675. Equity remains stable across the filed fiscal years (±1.6% per year). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability63▲+48
Solvency79▼-18
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity ample (current ratio 3.03 against 7.09 in 2024; short-term debt: 1.3% and cash: 2.7% of total assets), and 46.4% 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
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€17,675
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
6 d early
2023
27 d late
2022
9 d late
2021
52 d early
2020
2 d late
2019
44 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 9 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 30 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€205,860▼ 7.9%
2024 · €223,535
Total assets
€383,960▲ 23.4%
2024 · €311,077
Net result
-€17,675▼ 69.6%
2024 · -€10,421
Working capital
€10,249▼ 67.7%
2024 · €31,712
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€11,289▼ 29.2%€134,757€122,303▼ 9.2%-€9,903-€17,662▼ 78.3%
Net result-€13,125▼ 23.6%€95,795€90,065▼ 6.0%-€10,421-€17,675▼ 69.6%
Equity€48,096▼ 78.2%€143,891▲ 199%€233,956▲ 62.6%€223,535▼ 4.5%€205,860▼ 7.9%
Total assets€389,981▼ 3.3%€366,191▼ 6.1%€323,750▼ 11.6%€311,077▼ 3.9%€383,960▲ 23.4%
Debt€341,885▲ 87.2%€189,072▼ 44.7%€25,781▼ 86.4%€23,529▼ 8.7%€116,858▲ 397%
Working capital-€109,714€60,800€34,138▼ 43.9%€31,712▼ 7.1%€10,249▼ 67.7%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €17,662 in 2025 against €9,903 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €383,960
Fixed assets
€368,663 ▲ 34.5%
Current assets
€15,297 ▼ 58.6%
Equity and liabilities €383,960
Equity
€205,860 ▼ 7.9%
Provisions
€61,242 ▼ 4.3%
Debt
€116,858 ▲ 397%
Debt's share of the balance-sheet total rises from 7.6% to 30.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€40,222▲
2024 · -€995
Cash flow
€40,209▲
2024 · -€1,513
Current ratio
3.03▼
2024 · 7.09
Debt to equity
0.57▲
2024 · 0.11
ROE
-8.6%▼
2024 · -4.7%
ROA
-4.6%▼
2024 · -3.3%
Interest coverage
13.63▲
2024 · -1.52
Debt ≤ 1 year
€5,048▼
2024 · €5,206
Debt > 1 year
€109,350▲
2024 · €17,831
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.5%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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%.
| 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 12,321 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €132,913 | €123,137 | - | €10,841 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,359 | €12,236 | €8,908 | €8,908 | €57,884 | ▲ 550% |
| Other operating charges640/8 | €6,194 | €4,744 | €3,154 | €1,867 | €6,029 | ▲ 223% |
| Gross operating margin9900 | €12,264 | €151,737 | €134,365 | €872 | €46,251 | ▲ 5,204% |
| Operating profit (loss)9901 | -€11,289 | €134,757 | €122,303 | -€9,903 | -€17,662 | ▼ 78.3% |
| Financial income75/76B | €31 | - | - | €135 | €166 | ▲ 23.0% |
| Recurring financial income75 | €31 | - | - | €135 | €166 | ▲ 23.0% |
| Financial charges65/66B | €1,867 | €5,734 | €1,453 | €653 | €2,950 | ▲ 352% |
| Recurring financial charges65 | €1,867 | €5,734 | €1,453 | €653 | €2,950 | ▲ 352% |
| Profit (loss) for the period before taxes9903 | -€13,125 | €129,023 | €120,850 | -€10,421 | -€20,446 | ▼ 96.2% |
| Transfer from deferred taxes780 | - | - | - | - | €2,771 | - |
| Transfer to deferred taxes680 | - | €33,228 | €30,785 | - | - | - |
| Profit (loss) for the period9904 | -€13,125 | €95,795 | €90,065 | -€10,421 | -€17,675 | ▼ 69.6% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €8,313 | - |
| Transfer to tax-exempt reserves689 | - | €99,685 | €92,353 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€13,125 | -€3,890 | -€2,288 | -€10,421 | -€9,362 | ▲ 10.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €389,981 | €366,191 | €323,750 | €311,077 | €383,960 | ▲ 23.4% |
| Fixed assets21/28 | €336,110 | €302,838 | €283,067 | €274,159 | €368,663 | ▲ 34.5% |
| Tangible fixed assets22/27 | €336,110 | €302,838 | €283,067 | €274,159 | €368,663 | ▲ 34.5% |
| Land and buildings22 | €336,110 | €302,838 | €283,067 | €274,159 | €368,663 | ▲ 34.5% |
| Current assets29/58 | €53,871 | €63,353 | €40,683 | €36,918 | €15,297 | ▼ 58.6% |
| Amounts receivable within one year40/41 | - | €25,000 | €25,000 | €40 | €4,983 | ▲ 12,358% |
| Trade receivables40 | - | - | - | - | €4,893 | - |
| Other amounts receivable41 | - | €25,000 | €25,000 | €40 | €90 | ▲ 125% |
| Cash at bank and in hand54/58 | €53,674 | €36,853 | €15,683 | €36,878 | €10,314 | ▼ 72.0% |
| Deferred charges and accrued income490/1 | €197 | €1,500 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €389,981 | €366,191 | €323,750 | €311,077 | €383,960 | ▲ 23.4% |
| Equity10/15 | €48,096 | €143,891 | €233,956 | €223,535 | €205,860 | ▼ 7.9% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €20,910 | €120,595 | €212,948 | €212,948 | €204,635 | ▼ 3.9% |
| Non-distributable reserves130/1 | €20,846 | €20,846 | €20,846 | €20,846 | €20,846 | = |
| Legal reserve130 | €20,846 | €20,846 | €20,846 | €20,846 | €20,846 | = |
| Tax-exempt reserves132 | - | €99,685 | €192,038 | €192,038 | €183,725 | ▼ 4.3% |
| Distributable reserves133 | €64 | €64 | €64 | €64 | €64 | = |
| Profit (loss) carried forward14 | -€34,314 | -€38,204 | -€40,492 | -€50,913 | -€60,275 | ▼ 18.4% |
| Provisions and deferred taxes16 | - | €33,228 | €64,013 | €64,013 | €61,242 | ▼ 4.3% |
| Deferred taxes168 | - | €33,228 | €64,013 | €64,013 | €61,242 | ▼ 4.3% |
| Amounts payable17/49 | €341,885 | €189,072 | €25,781 | €23,529 | €116,858 | ▲ 397% |
| Amounts payable after more than one year17 | €174,977 | €180,832 | €17,831 | €17,831 | €109,350 | ▲ 513% |
| Financial debts170/4 | €174,977 | €180,832 | €17,831 | €17,831 | - | - |
| Other amounts payable178/9 | - | - | - | - | €109,350 | - |
| Amounts payable within one year42/48 | €163,585 | €2,553 | €6,545 | €5,206 | €5,048 | ▼ 3.0% |
| Trade debts44 | €3,392 | €1,944 | €1,997 | €3,508 | €4,986 | ▲ 42.1% |
| Suppliers440/4 | €3,392 | €1,944 | €1,997 | €3,508 | €4,986 | ▲ 42.1% |
| Other amounts payable47/48 | €160,193 | €609 | €4,548 | €1,698 | €62 | ▼ 96.3% |
| Accrued charges and deferred income492/3 | €3,323 | €5,687 | €1,405 | €492 | €2,460 | ▲ 400% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,125 | €95,795 | €90,065 | -€10,421 | -€17,675 | ▼ 69.6% |
| + Depreciation and write-downs630 | €17,359 | €12,236 | €8,908 | €8,908 | €57,884 | ▲ 550% |
| Operating cash flow (approximation) | €4,234 | €108,031 | €98,973 | -€1,513 | €40,209 | ▲ 2,758% |
| Investment in fixed assets (approximation) | - | €21,036 | €10,863 | €0 | -€152,388 | - |
| Change in cash | - | -€16,821 | -€21,170 | €21,195 | -€26,564 | ▼ 225% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€17,675
Net result drops to -€17,675, the lowest in the series.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
31-12
Financial
Equity above €200,000Eq €233,956 ▲62.6%
2 profitable years in a row build equity to €233,956.
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 9 days late
2022
31-12
Financial
Back to profitnet €95,795
Net result €95,795 after 4 loss-making years.
31-12
Financial
Liquidity times 75current ratio 24.82
Current ratio from 0.33 to 24.82; short-term debt falls from €163,585 to €2,553.
31-12
Financial
Equity above €100,000Eq €143,891 ▲199%
Equity rises from €48,096 to €143,891.
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
02-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 2 days late
2020
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Zottegem · 1 establishment unit since 2003
Ground area
307 m²
Building footprint
84 m²
Volume, LiDAR
724 m³
Parcel 41081A0980/00A000, Flanders · tallest building 13.6 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
COVA
since 20032.133.316.050
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41081A0980/00A000 | Flanders | 307 m² | 1 · 84 m² | 13.6 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Identification & contact
Identification
Legal formPublic limited company
Founded20-05-2003
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0480259668
Also
9925:BE0480259668
Registered
13-08-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.