COWADIS
ActiveCOWADIS has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €187k and a net result of €28k. Equity is growing by ~22% per year across the filed fiscal years. Its solvency ranks better than 80% of 11210 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
82
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability83▼-16
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity ample (current ratio 4.46 against 5.47 in 2024; short-term debt: 19.3% and cash: 16.7% of total assets), and 21.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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
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
78.9%
Return on assets
11.8%
Age of the figures
9 mo
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 →
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 16-06-2026, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
45 d early
2024
29 d early
2023
37 d early
2022
31 d early
2021
39 d early
2020
37 d early
2019
91 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€187k▲ 17.5%
2024 · €159k
2018: €90k
2019: €58k
2020: €52k
2021: €59k
2022: €85k
2023: €110k
2024: €159k
2018 → 2025
Total assets
€238k▲ 16.8%
2024 · €204k
2018: €129k
2019: €102k
2020: €91k
2021: €91k
2022: €95k
2023: €130k
2024: €204k
2018 → 2025
Net result
€28k▼ 43.1%
2024 · €49k
2018: €-28k
2019: €-32k
2020: €-6k
2021: €7k
2022: €26k
2023: €25k
2024: €49k
2018 → 2025
Working capital
€159k▲ 13.6%
2024 · €140k
2018: €89k
2019: €52k
2020: €48k
2021: €56k
2022: €83k
2023: €106k
2024: €140k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€59k-€85k▲ 44.8%€110k▲ 29.6%€159k▲ 44.6%€187k▲ 17.5%
Operating result€10k-€29k▲ 177%€26k▼ 8.5%€56k▲ 110%€43k▼ 22.6%
Net result€7k-€26k▲ 270%€25k▼ 4.4%€49k▲ 95.2%€28k▼ 43.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 23% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €238k
Fixed assets
€33k▲ 1.4%
Current assets
€204k▲ 19.7%
Equity and liabilities €238k
Equity
€187k▲ 17.5%
Debt
€50k▲ 14.0%
The debt ratio falls from 21.7% to 21.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€52k▼
2024 · €60k
Cash flow
€37k▼
2024 · €54k
Solvency
78.9%▲
2024 · 78.3%
Current ratio
4.46▼
2024 · 5.47
Quick ratio
2.85▼
2024 · 3.30
Debt / equity
0.27▼
2024 · 0.28
ROE
14.9%▼
2024 · 30.8%
ROA
11.8%▼
2024 · 24.1%
Interest coverage
25.47▼
2024 · 36.59
Debt
€50k▲
2024 · €44k
Debt ≤ 1 year
€46k▲
2024 · €31k
Debt > 1 year
€4k▼
2024 · €13k
Income taxes
€13k▲
2024 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€204k€238k▲
Fixed assets21/28€33k€33k▲
Tangible fixed assets22/27€32k€32k▲
Plant, machinery and equipment23€3k€10k▲
Furniture and vehicles24€29k€22k▼
Financial fixed assets28€1k€1k=
Current assets29/58€171k€204k▲
Amounts receivable after more than one year29-€65k
Other amounts receivable291-€65k
Stocks and contracts in progress3€68k€74k▲
Stocks30/36€68k€74k▲
Amounts receivable within one year40/41€5k€6k▲
Trade receivables40€5k€6k▲
Other amounts receivable41€351-
Current investments50/53€80k€20k▼
Cash at bank and in hand54/58€17k€40k▲
Deferred charges and accrued income490/1€101€104▲
Equity and liabilities
Total equity and liabilities10/49€204k€238k▲
Equity10/15€159k€187k▲
Contributions10/11€37k€37k=
Reserves13€93k€121k▲
Tax-exempt reserves132€37k€37k=
Distributable reserves133€56k€84k▲
Profit (loss) carried forward14€29k€29k=
Amounts payable17/49€44k€50k▲
Amounts payable after more than one year17€13k€4k▼
Financial debts170/4€13k€4k▼
Amounts payable within one year42/48€31k€46k▲
Current portion of amounts payable after more than one year42€8k€8k▲
Trade debts44€3k€6k▲
Suppliers440/4€3k€6k▲
Taxes, remuneration and social security45€17k€28k▲
Taxes450/3€17k€28k▲
Other amounts payable47/48€4k€4k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€9k▲
Other operating charges640/8€1k€1k▼
Gross operating margin9900€61k€53k▼
Operating profit (loss)9901€56k€43k▼
Financial income75/76B€92€275▲
Recurring financial income75€92€275▲
Financial charges65/66B€2k€2k▲
Recurring financial charges65€2k€2k▲
Profit (loss) for the period before taxes9903€54k€41k▼
Income taxes67/77€5k€13k▲
Profit (loss) for the period9904€49k€28k▼
Profit (loss) for the period to be appropriated9905€49k€28k▼
Appropriation of the result
Profit (loss) to be appropriated9906€78k€57k▼
Profit (loss) brought forward from the previous period14P€29k€29k=
Transfer to equity691/2€49k€28k▼
To other reserves6921€49k€28k▼
The notes to these accounts (7 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
16-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €49k ▲95.2%
Operating result €56k, net result €49k, both a record.
31-12
Financial
Equity above €150kEq €159k ▲44.6%
4 profitable years in a row build equity to €159k.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100kEq €110k ▲29.6%
3 profitable years in a row build equity to €110k.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity triplescurrent ratio 9.61
Current ratio from 2.77 to 9.61; short-term debt falls from €32k to €10k.
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €7k
Net result €7k after 3 loss-making years.
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Weakest financial yearnet €-32k
Net result drops to €-32k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 61 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Aalter · 1 establishment unit since 2004
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.
Zonnedauwstraat 89880 AalterGround area
1,248 m²
Building footprint
762 m²
Volume, LiDAR
8,388 m³
2 parcels, Flanders · tallest building 16.4 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
vestiaire
since 20042.136.246.440
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44502C0019/00F000 | Flanders | 1,077 m² | 1 · 681 m² | 16.4 m · 5 fl. |
| 44503F0965/00W002 | Flanders | 171 m² | 1 · 81 m² | - |
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.
Similar companies · same sector, comparable size
HOTSPORTSHOP
BE 0712.916.049
Zottegem · Eq €187k
COTE-URE
BE 0536.958.544
Nieuwpoort · Eq €189k
LOENA
BE 0881.477.996
Kruisem · Eq €183k
I.F.P. INTERNATIONAL FASHION PARTNERS
BE 0446.034.803
Brussel · Eq €192k
YESS BELGIUM
BE 0538.762.447
Diepenbeek · Eq €182k
Of 1,312 companies in sector 46423 we hold annual accounts for 813. 574 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-03-1983
Fiscal year end31-12
Activities, NACEBEL
46423Wholesale of clothing, excluding workwear and underwear
51421
46160Agents in the wholesale of textiles, clothing, fur, footwear and leather goods
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
51160
52421
Sources
Crossroads Bank for EnterprisesNational Bank · 43 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.