Summary
KOVRD is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €197,709 and a net result of €161,040. Equity is growing by about 8.3% per year across the filed financial years. Its solvency ranks better than 92% of 3,034 sector peers (NACE 66, financial year 2025). The company has been active since 2004 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
2025 annual accounts filed late (25 days) Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00435784.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 140% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 66, Activities auxiliary to financial services and insurance activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €4,888 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €91,397 | €101,031 | €111,553 | €108,320 | €115,007 | ▲ 6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,329 | €10,869 | €10,919 | €9,337 | €8,877 | €2,713 | €8,526 | €12,120 | ▲ 42.2% |
| Other operating charges640/8 | - | - | - | €840 | €818 | €1,256 | €387 | €654 | ▲ 68.8% |
| Gross operating margin9900 | €90,859 | €138,813 | €105,630 | €111,059 | €167,505 | €154,015 | €207,233 | €343,495 | ▲ 65.8% |
| Operating profit (loss)9901 | -€14,848 | €32,394 | €4,868 | €9,485 | €56,779 | €38,493 | €90,000 | €215,714 | ▲ 140% |
| Financial income75/76B | - | - | - | €19 | €213 | €108 | €385 | €205 | ▼ 46.8% |
| Recurring financial income75 | €94 | €15 | €94 | €19 | €213 | €108 | €385 | €205 | ▼ 46.8% |
| Financial charges65/66B | - | - | - | €306 | €292 | €354 | €371 | €240 | ▼ 35.3% |
| Recurring financial charges65 | €2,300 | €2,174 | €1,829 | €306 | €292 | €354 | €371 | €240 | ▼ 35.3% |
| Profit (loss) for the period before taxes9903 | -€17,054 | €30,235 | €3,132 | €9,198 | €56,700 | €38,247 | €90,015 | €215,680 | ▲ 140% |
| Income taxes67/77 | €484 | €7,802 | €3,315 | €4,351 | €15,871 | €10,756 | €17,510 | €54,640 | ▲ 212% |
| Profit (loss) for the period9904 | -€17,538 | €22,433 | -€182 | €4,846 | €40,829 | €27,492 | €72,505 | €161,040 | ▲ 122% |
| Transfer from tax-exempt reserves789 | - | - | - | €2,925 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€17,538 | €22,433 | -€182 | €7,771 | €40,829 | €27,492 | €72,505 | €161,040 | ▲ 122% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €99,527 | €121,643 | €86,165 | €89,164 | €69,082 | €107,301 | €179,203 | €213,909 | ▲ 19.4% |
| Fixed assets21/28 | €58,498 | €47,628 | €37,904 | €28,568 | €19,691 | €26,132 | €92,078 | €123,106 | ▲ 33.7% |
| Intangible fixed assets21 | - | - | - | - | - | - | - | €35,579 | - |
| Tangible fixed assets22/27 | €58,498 | €47,628 | €37,904 | €28,568 | €19,691 | €17,837 | €83,783 | €79,232 | ▼ 5.4% |
| Plant, machinery and equipment23 | - | - | - | €259 | - | €1,078 | €1,290 | €3,193 | ▲ 147% |
| Furniture and vehicles24 | - | - | - | €6,791 | €552 | - | €3,220 | €3,281 | ▲ 1.9% |
| Other tangible fixed assets26 | - | - | - | €21,518 | €19,138 | €16,759 | €79,272 | €72,757 | ▼ 8.2% |
| Financial fixed assets28 | - | - | - | - | - | €8,295 | €8,295 | €8,295 | = |
| Current assets29/58 | €41,030 | €74,015 | €48,261 | €60,596 | €49,391 | €81,169 | €87,125 | €90,803 | ▲ 4.2% |
| Amounts receivable within one year40/41 | €19,164 | €24,093 | €25,152 | €27,406 | €22,451 | €27,166 | €83,615 | €81,472 | ▼ 2.6% |
| Trade receivables40 | - | - | - | €25,590 | €19,853 | €23,345 | €42,615 | €49,112 | ▲ 15.2% |
| Other amounts receivable41 | - | - | - | €1,816 | €2,598 | €3,821 | €41,000 | €32,360 | ▼ 21.1% |
| Cash at bank and in hand54/58 | €21,735 | €49,238 | €18,823 | €33,059 | €16,208 | €52,928 | €2,584 | €8,240 | ▲ 219% |
| Deferred charges and accrued income490/1 | - | - | - | €131 | €10,732 | €1,074 | €925 | €1,091 | ▲ 17.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €99,527 | €121,643 | €86,165 | €89,164 | €69,082 | €107,301 | €179,203 | €213,909 | ▲ 19.4% |
| Equity10/15 | €40,148 | €62,582 | €62,399 | €67,245 | €51,673 | €79,164 | €36,669 | €197,709 | ▲ 439% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €100 | €100 | €100 | €100 | = |
| Reserves13 | €40,827 | €43,982 | €43,982 | €48,645 | €51,573 | €79,064 | €36,569 | €197,609 | ▲ 440% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €46,785 | €51,573 | €79,064 | €36,569 | €197,609 | ▲ 440% |
| Profit (loss) carried forward14 | -€19,279 | - | -€182 | - | - | - | - | - | - |
| Amounts payable17/49 | €59,379 | €59,061 | €23,766 | €21,919 | €17,410 | €28,137 | €142,533 | €16,200 | ▼ 88.6% |
| Amounts payable within one year42/48 | €55,987 | €55,833 | €21,857 | €20,648 | €16,166 | €28,137 | €142,533 | €16,200 | ▼ 88.6% |
| Trade debts44 | €539 | €2,249 | €993 | €2,289 | €2,652 | €2,204 | €1,751 | €1,434 | ▼ 18.1% |
| Suppliers440/4 | - | - | - | €2,289 | €2,652 | €2,204 | €1,751 | €1,434 | ▼ 18.1% |
| Taxes, remuneration and social security45 | - | - | - | €16,306 | €13,352 | €24,451 | €20,697 | €13,616 | ▼ 34.2% |
| Taxes450/3 | - | - | - | €4,036 | €1,038 | €10,756 | €7,540 | - | - |
| Remuneration and social security454/9 | - | - | - | €12,271 | €12,314 | €13,695 | €13,157 | €13,616 | ▲ 3.5% |
| Other amounts payable47/48 | - | - | - | €2,052 | €161 | €1,482 | €120,086 | €1,150 | ▼ 99.0% |
| Accrued charges and deferred income492/3 | - | - | - | €1,271 | €1,244 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€17,538 | €22,433 | -€182 | €4,846 | €40,829 | €27,492 | €72,505 | €161,040 | ▲ 122% |
| + Depreciation and write-downs630 | €11,329 | €10,869 | €10,919 | €9,337 | €8,877 | €2,713 | €8,526 | €12,120 | ▲ 42.2% |
| Operating cash flow (approximation) | -€6,209 | €33,303 | €10,736 | €14,183 | €49,706 | €30,205 | €81,031 | €173,160 | ▲ 114% |
| Investment in fixed assets (approximation) | - | €0 | -€1,195 | €0 | €0 | -€9,154 | -€74,471 | -€43,148 | ▲ 42.1% |
| Change in cash | - | €27,503 | -€30,415 | €14,236 | -€16,851 | €36,720 | -€50,344 | €5,656 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 25-08-2026 | 2026-00435784 |
| 31-12-2024 | micro format | 14-08-2025 | 2025-00378455 |
| 31-12-2023 | micro format | 27-08-2024 | 2024-00378284 |
| 31-12-2022 | abbreviated format | 26-07-2023 | 2023-00272951 |
| 31-12-2021 | abbreviated format | 29-08-2022 | 2022-20333548 |
| 31-12-2020 | abbreviated format | 20-08-2021 | 2021-51900304 |
| 31-12-2019 | abbreviated format | 20-08-2020 | 2020-43000323 |
| 31-12-2018 | micro format | 27-08-2019 | 2019-52700245 |
| 31-12-2017 | micro format | 31-08-2018 | 2018-61100416 |
| 31-12-2016 | micro format | 31-08-2017 | 2017-58000106 |
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