COVICON
ActiveSummary
COVICON has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €184k and a net result of €18k. Equity is growing by ~29.6% per year across the filed fiscal years. Its solvency ranks better than 41% of 2692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (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
Profitability73▼-11
Solvency61▼-6
Growth78=
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity tight (current ratio 1.24 against 1.59 in 2024; short-term debt: 64.2% of total assets), and 64.2% 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.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
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
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
35.8%
Return on assets
3.6%
Age of the figures
9 mo
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 17-07-2026, 14 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
14 d early
2024
63 d early
2023
26 d early
2022
33 d early
2021
32 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€184k▲ 11.1%
2024 · €166k
2021: €53k
2022: €62k
2023: €119k
2024: €166k
2021 → 2025
Total assets
€513k▲ 29.6%
2024 · €396k
2021: €89k
2022: €266k
2023: €406k
2024: €396k
2021 → 2025
Net result
€18k▼ 60.8%
2024 · €47k
2021: €3k
2022: €9k
2023: €57k
2024: €47k
2021 → 2025
Working capital
€80k▼ 34.2%
2024 · €121k
2021: €45k
2022: €53k
2023: €30k
2024: €121k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€53k-€62k▲ 17.0%€119k▲ 91.6%€166k▲ 39.3%€184k▲ 11.1%
Operating result€3k-€11k▲ 238%€76k▲ 582%€62k▼ 18.5%€18k▼ 71.0%
Net result€3k-€9k▲ 202%€57k▲ 529%€47k▼ 17.7%€18k▼ 60.8%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 71% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €513k
Fixed assets
€104k ▲ 51.4%
Current assets
€409k ▲ 25.1%
Equity and liabilities €513k
Equity
€184k ▲ 11.1%
Debt
€329k ▲ 43.0%
Debt's share of the balance-sheet total rises from 58.2% to 64.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€46k▼
2024 · €84k
Cash flow
€47k▼
2024 · €69k
Current ratio
1.24▼
2024 · 1.59
Quick ratio
0.62▼
2024 · 1.08
Debt to equity
1.79▲
2024 · 1.39
ROE
10.0%▼
2024 · 28.2%
ROA
3.6%▼
2024 · 11.8%
Interest coverage
117.86▼
2024 · 292.30
Debt ≤ 1 year
€329k▲
2024 · €206k
Income taxes
€448▼
2024 · €17k
Staff costs
€196k▲
2024 · €123k
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 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€396k€513k▲
Fixed assets21/28€69k€104k▲
Tangible fixed assets22/27€69k€104k▲
Furniture and vehicles24€69k€104k▲
Current assets29/58€327k€409k▲
Stocks and contracts in progress3€105k€203k▲
Stocks30/36-€4k
Contracts in progress37€105k€200k▲
Amounts receivable within one year40/41€221k€179k▼
Trade receivables40€73k€164k▲
Other amounts receivable41€147k€15k▼
Cash at bank and in hand54/58€0-
Deferred charges and accrued income490/1€859€27k▲
Equity and liabilities
Total equity and liabilities10/49€396k€513k▲
Equity10/15€166k€184k▲
Contributions10/11€50k€50k=
Reserves13€116k€134k▲
Distributable reserves133€116k€134k▲
Amounts payable17/49€230k€329k▲
Amounts payable within one year42/48€206k€329k▲
Trade debts44€58k€37k▼
Suppliers440/4€58k€37k▼
Advances received on contracts in progress46€119k€237k▲
Taxes, remuneration and social security45€29k€36k▲
Taxes450/3€9k€999▼
Remuneration and social security454/9€21k€35k▲
Other amounts payable47/48-€20k
Accrued charges and deferred income492/3€24k€0▼
Income statement
Code20242025
Remuneration, social security and pensions62€123k€196k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€28k▲
Other operating charges640/8€613€1k▲
Gross operating margin9900€208k€243k▲
Operating profit (loss)9901€62k€18k▼
Financial income75/76B€2k€1k▼
Recurring financial income75€2k€1k▼
Financial charges65/66B€288€393▲
Recurring financial charges65€288€393▲
Profit (loss) for the period before taxes9903€64k€19k▼
Income taxes67/77€17k€448▼
Profit (loss) for the period9904€47k€18k▼
Profit (loss) for the period to be appropriated9905€47k€18k▼
Appropriation of the result
Profit (loss) to be appropriated9906€47k€18k▼
Transfer to equity691/2€47k€18k▼
To other reserves6921€47k€18k▼
Social balance
Average headcount (FTE)90872.02.7▲
The notes to these accounts (6 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
23-09
State Gazette act
Appointment: RSM INTERAUDIT (statutory auditor)Permanent representative: Jonas Uytterhaegen3 facts ▸
State Gazette act
Appointment: RSM INTERAUDIT (statutory auditor)
Permanent representative: Jonas Uytterhaegen3 facts ▸
- General meeting, 30-06-2026
- Auditor appointment, RSM INTERAUDIT (statutory auditor)
- Permanent representative, Jonas Uytterhaegen (permanent representative)
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
29-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €150kEq €166k ▲39.3%
4 profitable years in a row build equity to €166k.
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2021net €57k ▲529%
Operating result €76k, net result €57k, both a record.
31-12
Financial
Equity above €100kEq €119k ▲91.6%
3 profitable years in a row build equity to €119k.
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Menen · 1 establishment unit since 2020
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.
Krommebeekstraat 228930 MenenGround area
1,951 m²
Building footprint
579 m²
Volume, LiDAR
3,683 m³
Parcel 34372B0280/00K000, Flanders · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
COVICON
since 20202.311.471.297
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34372B0280/00K000 | Flanders | 1,951 m² | 1 · 579 m² | 7.1 m · 2 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.
Statutory auditor
1 auditor| RSM INTERAUDITCurrent Statutory auditor · represented by Jonas Uytterhaegen | 23-09-2026 → present |
Public money · subsidies and aid
Flemish government
2024 to 2025 · 3 entries · 48,637 EUR awarded · 24,319 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 0 EUR | 0 EUR |
| 2024 | 1 | 48,637 EUR | 24,319 EUR |
Schemes
O&O-haalbaarheidsstudie
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Of 16,884 companies in sector 62100 we hold annual accounts for 8,775. 6,744 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 formPrivate limited company
Founded18-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
62900Other information technology and computer services
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.