COVATEC
ActiveThe computed 12-month bankruptcy probability of COVATEC is 1.9% (moderate). The 2024 annual accounts show equity of €42k and a net result of €45k. Equity is shrinking by ~13.1% per year across the filed fiscal years. Its solvency ranks better than 47% of 1630 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
86
/ 100
Excellent▲ +13 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100=
Solvency81▲+55
Growth32=
Stability100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity ample (current ratio 1.66 against 1.17 in 2023), but 56.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 33
Relative position
BE, all sectors
reference
Sector 33
higher
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-07-2025, 15 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
15 d early
2023
37 d early
2022
19 d early
2021
146 d early
2020
11 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€42k▲ 94.2%
2023 · €21k
2020: €55k
2021: €82k
2022: €105k
2023: €21k
2020 → 2024
Total assets
€95k▼ 28.0%
2023 · €132k
2020: €91k
2021: €105k
2022: €118k
2023: €132k
2020 → 2024
Net result
€45k▼ 5.5%
2023 · €48k
2020: €57k
2021: €57k
2022: €22k
2023: €48k
2020 → 2024
Working capital
€35k▲ 86.9%
2023 · €19k
2020: €55k
2021: €67k
2022: €104k
2023: €19k
2020 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€55k-€82k▲ 50.3%€105k▲ 27.2%€21k▼ 79.5%€42k▲ 94.2%
Operating result€72k-€72k=€30k▼ 58.9%€63k▲ 113%€58k▼ 8.0%
Net result€57k-€57k=€22k▼ 60.5%€48k▲ 114%€45k▼ 5.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 8% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €95k
Fixed assets
€6k▲ 151%
Current assets
€89k▼ 31.4%
Equity and liabilities €95k
Equity
€42k▲ 94.2%
Debt
€53k▼ 51.7%
The debt ratio falls from 83.8% to 56.2%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€59k▼
2023 · €64k
Cash flow
€46k▼
2023 · €48k
Solvency
43.8%▲
2023 · 16.2%
Current ratio
1.66▲
2023 · 1.17
Quick ratio
1.66▲
2023 · 1.17
Debt / equity
1.28▼
2023 · 5.16
ROE
108.7%▼
2023 · 223.3%
ROA
47.6%▲
2023 · 36.3%
Interest coverage
40.20▲
2023 · 31.16
Debt
€53k▼
2023 · €110k
Debt ≤ 1 year
€53k▼
2023 · €110k
Income taxes
€12k▼
2023 · €14k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€132k€95k▼
Fixed assets21/28€2k€6k▲
Tangible fixed assets22/27€2k€6k▲
Plant, machinery and equipment23€328-
Furniture and vehicles24€2k€6k▲
Current assets29/58€129k€89k▼
Amounts receivable within one year40/41€13k€13k▲
Trade receivables40€13k€13k▲
Other amounts receivable41€11-
Current investments50/53€39k€47k▲
Cash at bank and in hand54/58€28k€28k▼
Deferred charges and accrued income490/1€50k€628▼
Equity and liabilities
Total equity and liabilities10/49€132k€95k▼
Equity10/15€21k€42k▲
Contributions10/11€19k€19k=
Reserves13€3k€23k▲
Distributable reserves133€3k€23k▲
Amounts payable17/49€110k€53k▼
Amounts payable within one year42/48€110k€53k▼
Trade debts44€35k€498▼
Suppliers440/4€35k€498▼
Taxes, remuneration and social security45€13k€10k▼
Taxes450/3€13k€10k▼
Other amounts payable47/48€62k€43k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€454€978▲
Other operating charges640/8€2k€1k▼
Gross operating margin9900€66k€60k▼
Operating profit (loss)9901€63k€58k▼
Financial income75/76B€200€291▲
Recurring financial income75€200€291▲
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€61k€57k▼
Income taxes67/77€14k€12k▼
Profit (loss) for the period9904€48k€45k▼
Profit (loss) for the period to be appropriated9905€48k€45k▼
Appropriation of the result
Profit (loss) to be appropriated9906€48k€45k▼
Transfer from equity791/2€86k-
Transfer to equity691/2€3k€20k▲
To other reserves6921€3k€20k▲
Profit to be distributed694/7€131k€25k▼
Return on contributions (dividend)694€131k€25k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €22k ▼60.5%
Net result drops to €22k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 8.45
Current ratio from 2.85 to 8.45; short-term debt falls from €36k to €14k.
31-12
Financial
Equity above €100kEq €105k ▲27.2%
3 profitable years in a row build equity to €105k.
07-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Stekene · 1 establishment unit since 2019
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.
Bormte(STE) 329190 StekeneGround area
723 m²
Building footprint
128 m²
Volume, LiDAR
337 m³
Parcel 46024A2227/00V000, Flanders · tallest building 9.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
COVATEC
since 20192.289.138.929
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46024A2227/00V000 | Flanders | 723 m² | 1 · 128 m² | 9.3 m · 1 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
DESSEYN TECHNICS
BE 0694.831.190
Ingelmunster · Eq €41k
VAN ACKER TECHNICS
BE 0836.344.985
Temse · Eq €42k
TRS
BE 1017.514.657
Wuustwezel · Eq €42k
REMOTIVE-I
BE 0752.716.139
Stabroek · Eq €41k
BI BUILDING PROJECT
BE 0742.680.401
Asse · Eq €42k
Of 3,705 companies in sector 33120 we hold annual accounts for 1,334. 1,007 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-04-2019
Fiscal year end31-12
Activities, NACEBEL
33120Repair and maintenance of machinery
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.