COVESS
ActiveSummary
COVESS has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.5m and a net result of -€987,334. Equity is growing by ~19.3% per year across the filed fiscal years. Its solvency ranks better than 53% of 192 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency79▼-6
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80,000 at 30 days acceptable
Liquidity ample (current ratio 3.57 against 3.42 in 2024; short-term debt: 25% and cash: 0.5% of total assets), and 46.2% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 22
Relative position
BE, all sectors
reference
Manufacture of rubber and plastic products (NACE 22)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
12 d late
2023
28 d late
2022
14 d early
2021
61 d late
2020
19 d late
2019
88 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 32 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 34% of the sector filed 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 29 August (4 of the last 5 filed years within 32 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€987,334
2024 · €1.4m
Working capital
€1.8m▼ 27.5%
2024 · €2.5m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 22, Manufacture of rubber and plastic products, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€527,369▲ 9.9%€134,048▼ 74.6%€97,413▼ 27.3%€1.5m▲ 1,483%-€936,176
Net result€508,884above the sector's middle half▲ 8.8%€108,826within the sector's middle half▼ 78.6%€45,106within the sector's middle half▼ 58.6%€1.4mabove the sector's middle half▲ 3,003%-€987,334below the sector's middle half
Equity€1.1mwithin the sector's middle half▲ 147%€1.2mwithin the sector's middle half▲ 6.5%€1.2mwithin the sector's middle half▲ 0.7%€2.5mabove the sector's middle half▲ 115%€1.5mwithin the sector's middle half▼ 40.2%
Total assets€1.6mwithin the sector's middle half▲ 109%€2.0mwithin the sector's middle half▲ 27.1%€2.3mwithin the sector's middle half▲ 13.4%€4.2mabove the sector's middle half▲ 82.7%€2.8mwithin the sector's middle half▼ 32.9%
Debt€496,246▲ 55.7%€857,779▲ 72.9%€1.1m▲ 30.8%€1.7m▲ 48.3%€1.3m▼ 21.6%
Working capital€494,127within the sector's middle half▲ 138%€350,100within the sector's middle half▼ 29.1%€750,790within the sector's middle half▲ 114%€2.5mabove the sector's middle half▲ 233%€1.8mwithin the sector's middle half▼ 27.5%
Solvency68.9%above the sector's middle half▲ 10.7pp57.8%within the sector's middle half▼ 11.2pp51.3%within the sector's middle half▼ 6.5pp60.5%within the sector's middle half▲ 9.2pp53.8%within the sector's middle half▼ 6.6pp
Current ratio2.30within the sector's middle half▲ 0.581.57within the sector's middle half▼ 0.732.70within the sector's middle half▲ 1.133.42above the sector's middle half▲ 0.723.57within the sector's middle half▲ 0.15
Return on assets (ROA)31.9%above the sector's middle half▼ 29.4pp5.4%within the sector's middle half▼ 26.5pp2.0%within the sector's middle half▼ 3.4pp33.3%above the sector's middle half▲ 31.3pp-35.0%below the sector's middle half▼ 68.2pp
Staff (FTE)6.6within the sector's middle half4.7within the sector's middle half▼ 28.8%3within the sector's middle half▼ 36.2%2.4below the sector's middle half▼ 20.0%
above
within
below
the middle half (P25 to P75) of NACE 22, Manufacture of rubber and plastic products, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €936,176 after €1.5m in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.8m
Fixed assets
€309,881 ▼ 54.4%
Current assets
€2.5m ▼ 28.7%
Equity and liabilities €2.8m
Equity
€1.5m ▼ 40.2%
Debt
€1.3m ▼ 21.6%
Debt's share of the balance-sheet total rises from 39.5% to 46.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€564,357▼
2024 · €2.0m
Cash flow
-€615,516▼
2024 · €1.8m
Debt to equity
0.86▲
2024 · 0.65
ROE
-64.9%▼
2024 · 55.0%
Interest coverage
-10.82▼
2024 · 13.32
Debt ≤ 1 year
€704,858▼
2024 · €1.0m
Debt > 1 year
€597,903▼
2024 · €631,903
Income taxes
-€70▲
2024 · -€735
Staff costs
€116,469▼
2024 · €240,327
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,834 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.7%
went bankrupt
13%
stopped otherwise
84%
still going
A further 0.4% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 5,834 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 | - | - | €47,769 | - | - | - |
| Remuneration, social security and pensions62 | €234,384 | €335,360 | €272,152 | €240,327 | €116,469 | ▼ 51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €134,913 | €183,286 | €284,296 | €423,228 | €371,818 | ▼ 12.1% |
| Other operating charges640/8 | €935 | €124 | €4,195 | €1,856 | €343,764 | ▲ 18,423% |
| Gross operating margin9900 | €897,600 | €652,817 | €658,056 | €2.2m | -€104,125 | ▼ 105% |
| Operating profit (loss)9901 | €527,369 | €134,048 | €97,413 | €1.5m | -€936,176 | ▼ 161% |
| Financial income75/76B | €75 | €1,145 | €728 | €4,190 | €953 | ▼ 77.3% |
| Recurring financial income75 | €75 | €1,145 | €728 | €4,190 | €953 | ▼ 77.3% |
| Financial charges65/66B | €18,281 | €25,785 | €27,380 | €147,539 | €52,181 | ▼ 64.6% |
| Recurring financial charges65 | €18,281 | €25,785 | €27,380 | €147,539 | €52,181 | ▼ 64.6% |
| Profit (loss) for the period before taxes9903 | €509,162 | €109,408 | €70,761 | €1.4m | -€987,404 | ▼ 171% |
| Income taxes67/77 | €278 | €582 | €25,654 | -€735 | -€70 | ▲ 90.5% |
| Profit (loss) for the period9904 | €508,884 | €108,826 | €45,106 | €1.4m | -€987,334 | ▼ 171% |
| Profit (loss) for the period to be appropriated9905 | €508,884 | €108,826 | €45,106 | €1.4m | -€987,334 | ▼ 171% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €2.0m | €2.3m | €4.2m | €2.8m | ▼ 32.9% |
| Fixed assets21/28 | €722,326 | €1.1m | €1.1m | €679,720 | €309,881 | ▼ 54.4% |
| Intangible fixed assets21 | - | €333,391 | €474,676 | €306,870 | €139,065 | ▼ 54.7% |
| Tangible fixed assets22/27 | €706,590 | €719,444 | €620,193 | €372,849 | €170,816 | ▼ 54.2% |
| Land and buildings22 | €170,213 | €220,024 | €33,281 | €18,531 | €3,781 | ▼ 79.6% |
| Plant, machinery and equipment23 | €525,763 | €466,223 | €421,695 | €225,707 | €81,273 | ▼ 64.0% |
| Furniture and vehicles24 | €10,614 | €33,196 | €27,713 | €21,821 | €14,261 | ▼ 34.6% |
| Other tangible fixed assets26 | - | - | €137,503 | €106,790 | €71,502 | ▼ 33.0% |
| Financial fixed assets28 | €15,736 | €15,736 | €15,736 | - | - | - |
| Current assets29/58 | €875,080 | €962,395 | €1.2m | €3.5m | €2.5m | ▼ 28.7% |
| Amounts receivable after more than one year29 | - | - | - | €15,736 | €15,736 | = |
| Other amounts receivable291 | - | - | - | €15,736 | €15,736 | = |
| Stocks and contracts in progress3 | €109,407 | €234,075 | €74,931 | €89,662 | - | - |
| Stocks30/36 | €109,407 | €234,075 | €74,931 | €89,662 | - | - |
| Amounts receivable within one year40/41 | €751,362 | €693,907 | €1.0m | €576,363 | €91,269 | ▼ 84.2% |
| Trade receivables40 | €418,326 | €136,129 | €215,631 | €553,670 | €75,251 | ▼ 86.4% |
| Other amounts receivable41 | €333,036 | €557,778 | €812,458 | €22,693 | €16,018 | ▼ 29.4% |
| Current investments50/53 | - | - | - | €750,000 | €637,500 | ▼ 15.0% |
| Cash at bank and in hand54/58 | €14,311 | €34,413 | €85,384 | €87,048 | €14,326 | ▼ 83.5% |
| Deferred charges and accrued income490/1 | - | - | €4,408 | €2.0m | €1.8m | ▼ 12.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €2.0m | €2.3m | €4.2m | €2.8m | ▼ 32.9% |
| Equity10/15 | €1.1m | €1.2m | €1.2m | €2.5m | €1.5m | ▼ 40.2% |
| Contributions10/11 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Capital10 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Issued capital100 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Reserves13 | €103,506 | €103,506 | €103,506 | €895,638 | €895,638 | = |
| Non-distributable reserves130/1 | - | - | - | €792,132 | €679,632 | ▼ 14.2% |
| Legal reserve130 | - | - | - | €42,132 | €42,132 | = |
| Own shares acquired1312 | - | - | - | €750,000 | €637,500 | ▼ 15.0% |
| Distributable reserves133 | €103,506 | €103,506 | €103,506 | €103,506 | €216,006 | ▲ 109% |
| Profit (loss) carried forward14 | -€711,046 | -€602,220 | -€557,114 | €50,504 | -€936,830 | ▼ 1,955% |
| Investment grants15 | €147,200 | €110,400 | €73,600 | €36,800 | - | - |
| Amounts payable17/49 | €496,246 | €857,779 | €1.1m | €1.7m | €1.3m | ▼ 21.6% |
| Amounts payable after more than one year17 | €115,294 | €245,484 | €679,902 | €631,903 | €597,903 | ▼ 5.4% |
| Financial debts170/4 | €115,294 | €245,484 | €679,902 | €631,903 | €597,903 | ▼ 5.4% |
| Amounts payable within one year42/48 | €380,953 | €612,295 | €442,022 | €1.0m | €704,858 | ▼ 31.7% |
| Current portion of amounts payable after more than one year42 | €111,199 | €71,319 | €67,749 | €47,999 | €34,000 | ▼ 29.2% |
| Financial debts43 | - | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Credit institutions430/8 | - | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Trade debts44 | €198,497 | €409,658 | €196,027 | €474,740 | €335,922 | ▼ 29.2% |
| Suppliers440/4 | €198,497 | €409,658 | €196,027 | €474,740 | €335,922 | ▼ 29.2% |
| Advances received on contracts in progress46 | - | - | - | €40,000 | - | - |
| Taxes, remuneration and social security45 | €41,257 | €41,411 | €32,889 | €54,810 | €18,231 | ▼ 66.7% |
| Taxes450/3 | €935 | €7,377 | €7,156 | €3,786 | €1,330 | ▼ 64.9% |
| Remuneration and social security454/9 | €40,322 | €34,035 | €25,733 | €51,023 | €16,901 | ▼ 66.9% |
| Other amounts payable47/48 | €30,000 | €39,908 | €95,358 | €363,947 | €266,705 | ▼ 26.7% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,038 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €508,884 | €108,826 | €45,106 | €1.4m | -€987,334 | ▼ 171% |
| + Depreciation and write-downs630 | €134,913 | €183,286 | €284,296 | €423,228 | €371,818 | ▼ 12.1% |
| Operating cash flow (approximation) | €643,797 | €292,112 | €329,402 | €1.8m | -€615,516 | ▼ 134% |
| Investment in fixed assets (approximation) | - | -€529,530 | -€326,330 | €7,657 | -€1,980 | ▼ 126% |
| Change in cash | - | €20,102 | €50,971 | €1,664 | -€72,722 | ▼ 4,471% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
26-08
State Gazette act
Appointment: Swennen Joeri (director)Permanent representative: De Clippeleir Johan7 facts ▸
State Gazette act
Appointment: Swennen Joeri (director)
Permanent representative: De Clippeleir Johan7 facts ▸
- General meeting, 25-06-2026
- Director appointment, Swennen Joeri (director)
- Board composition, Vanswijgenhoven Tony (chair and managing director)
- Board composition, D.C.V.E. Solutions BV (director)
- Permanent representative, De Clippeleir Johan (director)
- Board composition, Vandormael Hugo (director)
- Board composition, Swennen Joeri (director)
2025
31-12
Financial
Weakest financial yearnet -€987,334
Net result drops to -€987,334, the lowest in the series.
12-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 12 days late
2024
31-12
Financial
Highest result since 2018net €1.4m ▲3,003%
Operating result €1.5m, net result €1.4m, both a record.
31-12
Financial
Equity above €2mEq €2.5m ▲115%
6 profitable years in a row build equity to €2.5m.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
2023
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 61 days late
2021
31-12
Financial
Equity above €1mEq €1.1m ▲147%
3 profitable years in a row build equity to €1.1m.
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 19 days late
2020
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 88 days late
Show earlier events
2019
31-12
Financial
Back to profitnet €128,686
Net result €128,686 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €284,493 ▲82.6%
Equity rises from €155,807 to €284,493.
09-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 70 days late
2018
10-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 41 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 15 acts read
About the unread acts
Of the 15 Belgian State Gazette acts we know for this company, 1 has been read. The other 14 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Swennen Joeri
CurrentDirector · since 25-06-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
14 of this company's 15 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Hasselt · 2 establishment units since 2001
Ground area
4.1 ha
Building footprint
2.0 ha
Volume, LiDAR
132,484 m³
2 parcels, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
Monninxstraat 52, 3510 Hasselt
since 20012.101.366.032
COVESS
since 20212.315.648.039
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71053G0172/00G002 | Flanders | 3.7 ha | 1 · 1.9 ha | 9.8 m · 2 fl. |
| 71028A0110/00F000 | Flanders | 4,650 m² | 1 · 494 m² | 7.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Swennen Joeri |
|
Articles of association
Board rule
Tot de AV van 2029
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, scroll to zoom.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 15 entries · 404,192 EUR awarded · 247,871 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 5 | 11,245 EUR | 11,245 EUR |
| 2024 | 4 | 27,751 EUR | 155,251 EUR |
| 2023 | 3 | 4,031 EUR | 74,031 EUR |
| 2022 | 3 | 361,165 EUR | 7,344 EUR |
European research
2 projects · 716,328 EUR EU contributionProgrammes
Projects
ROAD trailer design - use of Type V theRmoplastic tube with light composite structure for HYdrogen transPort
Thermoplastic Hydrogen tanks Optimised and Recyclable
Recognitions · licences · registrations
Legal Entity Identifier
894500471I4XDTMFT806
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Of 779 companies in sector 22220 we hold annual accounts for 600. 383 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded24-04-2001
Fiscal year end31-12
Activities, NACEBEL 2025
22220Manufacture of rubber and plastic products
22260Manufacture of rubber and plastic products
Contact
E-mail
info@covess.comHasselt
Phone
011229338Hasselt
E-invoicing
Reachable via Peppol
Peppol ID
0208:0474695630
Also
9925:BE0474695630
Registered
02-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.