COVERING
ActiveSummary
COVERING has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €267k and a net result of €12k. Equity is shrinking by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 26% of 8001 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
65
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▲+42
Solvency45▲+2
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days acceptable
Liquidity ample (current ratio 1.65 against 0.93 in 2024; short-term debt: 29.8% and cash: 4.5% of total assets), but 79.9% of the assets are financed with debt.
Credit advice for your own amount and term
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
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
20.1%
Return on assets
0.9%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
41 d early
2022
26 d early
2021
4 d early
2020
22 d early
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close24-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€267k▲ 4.9%
2024 · €254k
2018: €417k
2019: €451k
2020: €442k
2021: €452k
2022: €324k
2023: €330k
2024: €254k
2018 → 2025
Total assets
€1.33M▼ 5.2%
2024 · €1.40M
2018: €1.32M
2019: €1.30M
2020: €1.20M
2021: €1.27M
2022: €1.55M
2023: €1.48M
2024: €1.40M
2018 → 2025
Net result
€12k
2024 · €-76k
2018: €497
2019: €34k
2020: €-9k
2021: €10k
2022: €-128k
2023: €6k
2024: €-76k
2018 → 2025
Working capital
€258k
2024 · €-53k
2018: €388k
2019: €485k
2020: €495k
2021: €490k
2022: €38k
2023: €4k
2024: €-53k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€452k-€324k▼ 28.3%€330k▲ 1.9%€254k▼ 23.1%€267k▲ 4.9%
Operating result€23k-€-107k€20k€-83k€37k
Net result€10k-€-128k€6k€-76k€12k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €37k after a loss of €83k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.33M
Fixed assets
€674k ▲ 4.3%
Current assets
€653k ▼ 13.4%
Equity and liabilities €1.33M
Equity
€267k ▲ 4.9%
Provisions
€54k
Debt
€1.01M ▼ 12.2%
Debt's share of the balance-sheet total falls from 81.9% to 75.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€176k▲
2024 · €44k
Cash flow
€151k▲
2024 · €50k
Current ratio
1.65▲
2024 · 0.93
Quick ratio
0.68▲
2024 · 0.48
Debt to equity
3.77▼
2024 · 4.51
ROE
4.7%▲
2024 · -30.0%
ROA
0.9%▲
2024 · -5.4%
Interest coverage
7.08▲
2024 · 1.95
Debt ≤ 1 year
€395k▼
2024 · €808k
Debt > 1 year
€611k▲
2024 · €339k
Staff costs
€116k▲
2024 · €92k
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 · 2025 against 2024 · 64 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.40M€1.33M▼
Fixed assets21/28€646k€674k▲
Intangible fixed assets21€323k€326k▲
Tangible fixed assets22/27€318k€342k▲
Land and buildings22€291k€278k▼
Plant, machinery and equipment23€7k€10k▲
Furniture and vehicles24€19k€55k▲
Leasing and similar rights25€0-
Financial fixed assets28€5k€5k=
Current assets29/58€754k€653k▼
Stocks and contracts in progress3€368k€384k▲
Stocks30/36€368k€384k▲
Amounts receivable within one year40/41€237k€192k▼
Trade receivables40€234k€190k▼
Other amounts receivable41€3k€2k▼
Cash at bank and in hand54/58€143k€60k▼
Deferred charges and accrued income490/1€7k€18k▲
Equity and liabilities
Total equity and liabilities10/49€1.40M€1.33M▼
Equity10/15€254k€267k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€192k€205k▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€186k€198k▲
Provisions and deferred taxes16-€54k
Provisions for liabilities and charges160/5-€54k
Other liabilities and charges164/5-€54k
Amounts payable17/49€1.15M€1.01M▼
Amounts payable after more than one year17€339k€611k▲
Financial debts170/4€339k€268k▼
Other amounts payable178/9-€344k
Amounts payable within one year42/48€808k€395k▼
Current portion of amounts payable after more than one year42€106k€114k▲
Financial debts43€120k€130k▲
Credit institutions430/8€120k€130k▲
Trade debts44€208k€125k▼
Suppliers440/4€208k€125k▼
Advances received on contracts in progress46€382€759▲
Taxes, remuneration and social security45€23k€26k▲
Taxes450/3€11k€14k▲
Remuneration and social security454/9€12k€12k▲
Other amounts payable47/48€350k€0▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Remuneration, social security and pensions62€92k€116k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€127k€139k▲
Other operating charges640/8€7k€16k▲
Non-recurring operating charges66A€1k€0▼
Gross operating margin9900€145k€308k▲
Operating profit (loss)9901€-83k€37k▲
Financial income75/76B€29k€305▼
Recurring financial income75€373€305▼
Non-recurring financial income76B€29k€0▼
Financial charges65/66B€23k€25k▲
Recurring financial charges65€23k€25k▲
Profit (loss) for the period before taxes9903€-76k€12k▲
Profit (loss) for the period9904€-76k€12k▲
Profit (loss) for the period to be appropriated9905€-76k€12k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-76k€12k▲
Transfer from equity791/2€76k€0▼
Transfer to equity691/2€0€12k▲
To other reserves6921€0€12k▲
Social balance
Average headcount (FTE)90872.01.9▼
The notes to these accounts (26 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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
21-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
30-06
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
04-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Weakest financial yearnet €-128k ▼1380%
Net result drops to €-128k, the lowest in the series; recovery starts the following year.
26-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Back to profitnet €10k
Net result €10k after one loss-making year.
08-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Highest result since 2018net €34k ▲6722%
Operating result €92k, net result €34k, both a record.
Show earlier events
02-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 2 days late
2018
04-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 4 days late
2017
09-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 9 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
11 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, Izegem · 1 establishment unit since 1994
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.
Lodewijk de Raetlaan 308870 IzegemGround area
3,469 m²
Building footprint
2,346 m²
Volume, LiDAR
9,309 m³
Parcel 36009A0492/00K000, Flanders · tallest building 5.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Lodewijk de Raetlaan 30, 8870 Izegem
since 19942.065.158.308
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36009A0492/00K000 | Flanders | 3,469 m² | 1 · 2,346 m² | 5.9 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 31,896 EUR awarded · 31,896 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,175 EUR | 2,175 EUR |
| 2024 | 1 | 0 EUR | 12,500 EUR |
| 2023 | 2 | 25,000 EUR | 15,781 EUR |
| 2022 | 2 | 4,721 EUR | 1,440 EUR |
Schemes
Kmo-groeisubsidie: steun voor groeitrajecten bij kmo's (stopgezet)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Subsidies voor internationaal ondernemen
Similar companies · same sector, comparable size
DECORYSA
BE 0473.545.585
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LA ROCA
BE 0465.812.014
Heusden-Zolder · Eq €262k
Dochy Promac
BE 0891.006.168
Izegem · Eq €275k
ETABLISSEMENTS BAYOT
BE 0421.145.195
Mons · Eq €258k
HJ Management
BE 0441.998.217
Turnhout · Eq €281k
Of 471 companies in sector 46442 we hold annual accounts for 334. 248 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded07-01-1994
Fiscal year end30-06
Activities, NACEBEL 2025
46442Wholesale trade
46831Wholesale of construction materials, general range
43332Laying of wooden floor and wall coverings
47521Retail sale of hardware, building materials, paint and glass (general range)
Sources
Crossroads Bank for EnterprisesNational Bank · 32 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.