Checked.be
Active
BE 0811.315.720Private limited company
COVITIN
Rue André-Delchef 4 ·4000 Liège, Belgium· 17 yrs active
Sector: Buying and selling of own real estate
(68110)
Conclusion
COVITIN has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.10M and a net result of €-157k. Equity is growing by ~18.9% per year across the filed fiscal years. Its solvency ranks better than 35% of 208 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €2.10M |
| Net result | €-157k |
| Staff (FTE) | 0.8 |
| Better than sector | 35% |
Financial profile
38
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
17
Profitability
0
Solvency
21
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2009, 17 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
17
/ 100
Critical
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
58
2022
51
2023
66
2024
17
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.06 (≥ 1.0)
+5
Quick ratio
Quick ratio 0.03 (< 0.6)
-5
Leverage
Debt/equity 6.40 (> 3.0)
-10
Profitability
Negatieve ROE -8%
-10
Interest coverage
Interest coverage -1.8× (< 1.5×)
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 08-06-2026 with the NBB · fiscal year 2025 · full schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~18.9%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 13.5% | 32.2% | |
| Net result | €-157k | €8k | |
| Equity | €2.10M | €503k | |
| Gross operating margin | €26k | €78k | |
| Staff costs | €39k | €187k |
€-37k
-
22-25
€-157k
-
22-25
€-58k
-
22-25
€15.52M
+10.3%
22-25
€2.10M
-7.0%
22-25
€743k
-26.8%
22-25
1
-
22-25
€39k
-
22-25
€501
-99.8%
22-25
€13.42M
+13.6%
22-25
€13.36M
+13.8%
22-25
€58k
-12.1%
22-25
1.06
-2.8%
22-25
0.03
-79.6%
22-25
13.5%
-15.7%
22-25
6.40
+22.2%
22-25
-7.5%
-
22-25
-1.0%
-
22-25
-1.82
-
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | full schema | full schema | full schema | full schema |
| Revenue | - | - | - | - |
| EBITDA | €-37k | €1.22M | €252k | €742k |
| Net profit | €-157k | €830k | €95k | €466k |
| Cash flow | €-58k | €916k | €168k | €518k |
| Staff costs | €39k | - | - | - |
| Income taxes | €501 | €292k | €32k | €155k |
| Dividends | - | - | - | - |
| Total assets | €15.52M | €14.06M | €15.66M | €14.87M |
| Equity | €2.10M | €2.25M | €1.42M | €1.33M |
| Debt | €13.42M | €11.81M | €14.23M | €13.54M |
| of which ≤ 1y | €13.36M | €11.74M | €14.17M | €13.34M |
| of which > 1y | €58k | €66k | €63k | €130k |
| Working capital | €743k | €1.02M | €189k | €289k |
| Employees (FTE) | 0.8 | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 1.06 | 1.09 | 1.01 | 1.02 |
| Quick ratio | 0.03 | 0.15 | 0.06 | 0.12 |
| Working capital ratio | 4.8% | 7.2% | 1.2% | 1.9% |
| Solvency | 13.5% | 16.0% | 9.1% | 8.9% |
| Debt / equity | 6.40 | 5.24 | 9.99 | 10.19 |
| Long-term debt ratio | 0.03 | 0.03 | 0.04 | 0.10 |
| Interest coverage | -1.82 | 67.62 | 4.83 | 10.90 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -1.0% | 5.9% | 0.6% | 3.1% |
| ROE | -7.5% | 36.8% | 6.7% | 35.0% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €15.52M | €14.06M | €15.66M | €14.87M |
| Fixed assets | 21/28 | €1.41M | €1.31M | €1.30M | €1.24M |
| Tangible fixed assets | 22/27 | €1.21M | €1.30M | €1.30M | €1.24M |
| Financial fixed assets | 28 | €199k | €2k | €2k | €2k |
| Current assets | 29/58 | €14.11M | €12.76M | €14.36M | €13.63M |
| Stocks & contracts in progress | 3 | €13.71M | €11.04M | €13.57M | €11.97M |
| Amounts receivable within one year | 40/41 | €257k | €742k | €412k | €1.50M |
| Cash & bank | 54/58 | €93k | €931k | €324k | €20k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €15.52M | €14.06M | €15.66M | €14.87M |
| Equity | 10/15 | €2.10M | €2.25M | €1.42M | €1.33M |
| Contributions / capital | 10/11 | €210k | €210k | €210k | €210k |
| Reserves | 13 | €1.89M | €2.04M | €1.21M | €1.12M |
| Amounts payable | 17/49 | €13.42M | €11.81M | €14.23M | €13.54M |
| Amounts payable after one year | 17 | €58k | €66k | €63k | €130k |
| Amounts payable within one year | 42/48 | €13.36M | €11.74M | €14.17M | €13.34M |
| Trade debts payable within one year | 44 | €1.08M | €1.10M | €863k | €1.40M |
| Income statement | |||||
| Gross operating margin | 9900 | €26k | €1.24M | €264k | €774k |
| Operating result | 9901 | €-136k | €1.14M | €180k | €689k |
| Financial income | 75 | €4 | €1k | €61 | - |
| Financial charges | 65 | €20k | €18k | €52k | €68k |
| Result before taxes | 9903 | €-157k | €1.12M | €127k | €621k |
| Income taxes | 67/77 | €501 | €292k | €32k | €155k |
| Net result for the period | 9904 | €-157k | €830k | €95k | €466k |
| Result to be appropriated | 9905 | €-157k | €830k | €95k | €466k |
Legal Structure
| NACE primary | Buying and selling of own real estate(68110) |
| Legal form | Private limited company(610) |
| Incorporation | 22-04-2009 |
| Status | Active |
| Postal code | 4000 |
Establishment units
COVITIN
since 20092.177.935.555
Updates
Next filing, fiscal year 2026, expected by
2026
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-157k ▼119%
Net result drops to €-157k, the lowest in the series.
09-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 40 days late
2024
31-12
Financial
Highest result since 2022net €830k ▲770%
Operating result €1.14M, net result €830k, both a record.
31-12
Financial
Equity above €2MEq €2.25M ▲58.3%
3 profitable years in a row build equity to €2.25M.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 61 days late
2023
07-12
State Gazette act
Director changes
Olivier CASTERS
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 30 days late
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
20-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 142 days late
2020
23-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 84 days late
2019
22-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 83 days late
2018
07-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 7 days late
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 57 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Belgisch Staatsblad, acts
All acts · 1
updated 2 years ago
2023
07-12-2023 Change in the board of directors
Notary:
Olivier CASTERS · Saint-Nicolas
Technical details
{
"events": [
{
"kind": "substantive_delegation",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Salvatore DIPRIMA",
"address": "4000 -Li\u00E8ge, rue de l\u0027Esp\u00E9rance, 231, bo\u00EEte 11",
"birth_date": null,
"profession": null,
"birth_place": null
},
"reason": null,
"subkind": "confirmation",
"via_org": null,
"statutory": "statutair",
"compensated": null,
"effective_date": null,
"evidence_quote": "",
"decharge_status": null,
"mandate_duration": {
"kind": "indefinite",
"value": null
},
"rep_rotation_new_rep": null,
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},
{
"kind": "substantive_delegation",
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"person": {
"rrn": null,
"name": "Encarnacion MARTIN LOPEZ",
"address": "4000-Li\u00E8ge, rue de l\u0027Esp\u00E9rance, 231, bo\u00EEte 11",
"birth_date": null,
"profession": null,
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},
"reason": null,
"subkind": "confirmation",
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"decharge_status": null,
"mandate_duration": {
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},
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},
{
"kind": "substantive_delegation",
"role": "dagselijks_bestuur",
"person": {
"rrn": null,
"name": "Encarnacion MARTIN LOPEZ",
"address": null,
"birth_date": null,
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},
"reason": null,
"subkind": "confirmation",
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"mandate_duration": {
"kind": "indefinite",
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},
"rep_rotation_new_rep": null,
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},
{
"kind": "substantive_delegation",
"role": "dagselijks_bestuur",
"person": {
"rrn": null,
"name": "Salvatore DIPRIMA",
"address": null,
"birth_date": null,
"profession": null,
"birth_place": null
},
"reason": null,
"subkind": "confirmation",
"via_org": null,
"statutory": "statutair",
"compensated": null,
"effective_date": null,
"evidence_quote": "",
"decharge_status": null,
"mandate_duration": {
"kind": "indefinite",
"value": null
},
"rep_rotation_new_rep": null,
"rep_rotation_old_rep": null,
"effective_date_qualifier": null
}
],
"notary": {
"name": "Olivier CASTERS",
"firm_city": null,
"firm_name": null,
"office_city": "Saint-Nicolas",
"is_associated": false
},
"act_meta": {
"language": "fr",
"pub_date": "2023-12-07",
"filing_date": "2023-12-05",
"act_kind_objet": "Objet de l\u0027acte:"
},
"decisions": [
{
"body": "buitengewone_algemene_vergadering",
"date": "2023-11-20",
"unanimous": null
}
],
"is_correction": false,
"subject_company": {
"kbo": "0811.315.720",
"name_full": "COVITIN",
"legal_form": "SRL"
},
"publication_proxy": {
"kind": "person",
"org_kbo": null,
"org_name": null,
"person_name": "Olivier CASTERS",
"org_rep_person_name": null,
"person_role_at_subject": "notaire"
},
"co_filed_documents": [
"exp\u00E9dition du proc\u00E8s-verbal",
"coordination des statuts"
],
"corrected_publication_numac": null
}Credit advice
Company registry (CBE)
Activities
Buying and selling of own real estate68110Development of residential building projects68121Real estate agency activities68310Real estate activities68311
Names & trade names
| Legal nameFR | COVITIN |
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