COVE CONSTRUCT
Open bankruptcyA bankruptcy procedure is open for COVE CONSTRUCT according to publications in the Belgian State Gazette; curator: Johan MOMMAERTS.
Summary
The 2022 annual accounts show equity of €100k and a net result of €-18k.
Signals
Two signals.
+raises risk
Checked, nothing found (1)
Financials · fiscal year 2022, micro schema
Turnover
€168k▲ 17.1%
2020 · €143k
2019: €251k
2020: €143k
2019 → 2021
EBIT margin
45.5%▲ 25.4pp
2020 · 20.0%
2019: 8.2%
2020: 20.0%
2019 → 2021
Net result
€-18k
2021 · €61k
2019: €15k
2020: €22k
2021: €61k
2019 → 2022
Working capital
€100k▼ 13.1%
2021 · €115k
2019: €22k
2020: €52k
2021: €115k
2019 → 2022
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2019202020212022Trend
Turnover€251k-€143k▼ 42.9%€168k▲ 17.1%
Equity€22k-€56k▲ 162%€117k▲ 108%€100k▼ 15.1%
Operating result€21k-€29k▲ 38.8%€76k▲ 166%€-16k
Net result€15k-€22k▲ 46.0%€61k▲ 171%€-18k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2022: a loss of €16k after €76k in 2021, the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Equity and liabilities €117k
Equity
€100k ▼ 15.1%
Debt
€17k ▼ 32.2%
Debt's share of the balance-sheet total falls from 17.8% to 14.8%. Equity and debt are lower.
Key figures and ratios
Current ratio
6.77▲
2021 · 5.50
Debt to equity
0.17
ROE
-17.7%▼
2021 · 51.9%
ROA
-15.1%▼
2021 · 42.6%
Debt ≤ 1 year
€17k▼
2021 · €25k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2022 against 2021 · 34 lines
Balance sheet
Code20212022
Assets
Total assets20/58€143k€117k▼
Fixed assets21/28€3k-
Tangible fixed assets22/27€3k-
Current assets29/58€140k€117k▼
Amounts receivable within one year40/41€136k€117k▼
Trade receivables40-€116k
Other amounts receivable41-€449
Cash at bank and in hand54/58€4k€44▼
Equity and liabilities
Total equity and liabilities10/49€143k€117k▼
Equity10/15€117k€100k▼
Contributions10/11-€19k
Reserves13€2k€2k=
Non-distributable reserves130/1-€2k
Reserves not available under the articles1311-€2k
Profit (loss) carried forward14€97k€79k▼
Amounts payable17/49€25k€17k▼
Amounts payable within one year42/48€25k€17k▼
Trade debts44€4k€799▼
Suppliers440/4-€799
Taxes, remuneration and social security45-€16k
Taxes450/3-€16k
Income statement
Code20212022
Turnover70€168k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k-
Other operating charges640/8-€2k
Gross operating margin9900€79k€-14k▼
Operating profit (loss)9901€76k€-16k▼
Financial charges65/66B-€2k
Recurring financial charges65€110€2k▲
Profit (loss) for the period before taxes9903€76k€-18k▼
Income taxes67/77€15k-
Profit (loss) for the period9904€61k€-18k▼
Profit (loss) for the period to be appropriated9905€61k€-18k▼
Appropriation of the result
Profit (loss) to be appropriated9906-€79k
Profit (loss) brought forward from the previous period14P-€97k
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
03-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 826 days late
2022
11-10
Bankruptcy
Opening
Ondernemingsrechtbank Brussel · event 04-10-2022
31-03
Financial
Weakest financial yearnet €-18k
Net result drops to €-18k, the lowest in the series.
2021
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Highest result since 2019net €61k ▲171%
Operating result €76k, net result €61k, both a record.
31-03
Financial
Equity above €100kEq €117k ▲108%
3 profitable years in a row build equity to €117k.
2020
18-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
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, Etterbeek · 1 establishment unit since 2017
Ground area
2,445 m²
Building footprint
577 m²
Volume, LiDAR
9,202 m³
2 parcels, Brussels, Flanders · tallest building 29.8 m, ±9 floors. Linked by address, not a title deed.
100
companies at this address
See who is registered here
1 establishment unit
COVE CONSTRUCT
since 20172.269.842.263
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21362B0292/00X006 | Brussels | 1,253 m² | 1 · 333 m² | 29.8 m · 9 fl. |
| 13022E0306/00R002 | Flanders | 1,191 m² | 1 · 245 m² | 10.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | Johan MOMMAERTS PEGASUSLAAN 5, 1831 DIEGEM- |
04-10-2022 → present |
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded26-10-2017
Fiscal year end31-03
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.