SOVA ENGINEERING
ActiveSummary
SOVA ENGINEERING has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €615k and a net result of €-137k. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 46% of 188 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▼-9
Solvency71▼-1
Growth35▼-22
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 2.92 against 1.57 in 2024; short-term debt: 25.6% and cash: 3.4% of total assets), but 54.1% of the assets are financed with debt.
Credit check 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 · 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
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 →
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
55 d late
2023
23 d late
2022
53 d late
2021
10 d late
2020
20 d late
2019
56 d late
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.23M▼ 29.0%
2024 · €1.74M
2020: €2.18Mhighest in 6 years
2021: €1.70M▼ -22.2% vs 2020
2022: €1.71M▲ +0.8% vs 2021
2023: €1.61M▼ -5.6% vs 2022
2024: €1.74M▲ +7.7% vs 2023
2025: €1.23M▼ -29.0% vs 2024lowest in 6 years
2020 → 2025
EBIT margin
1.8%=
2024 · 1.8%
2020: 0.4%lowest in 6 years
2021: 5.3%▲ +1143% vs 2020highest in 6 years
2022: 3.2%▼ -39.6% vs 2021
2023: 3.0%▼ -7.2% vs 2022
2024: 1.8%▼ -39.2% vs 2023
2025: 1.8%● +0.0% vs 2024
2020 → 2025
Net result
€-137k
2024 · €16k
2018: €2k
2019: €71k▲ +3454% vs 2018highest in 8 years
2020: €389▼ -99.4% vs 2019
2021: €11k▲ +2714% vs 2020
2022: €33k▲ +203% vs 2021
2023: €15k▼ -54.0% vs 2022
2024: €16k▲ +3.9% vs 2023
2025: €-137k▼ -963% vs 2024lowest in 8 years
2018 → 2025
Working capital
€659k▲ 70.4%
2024 · €387k
2018: €1.19Mhighest in 8 years
2019: €727k▼ -38.7% vs 2018
2020: €582k▼ -20.0% vs 2019
2021: €235k▼ -59.5% vs 2020lowest in 8 years
2022: €255k▲ +8.5% vs 2021
2023: €343k▲ +34.3% vs 2022
2024: €387k▲ +12.8% vs 2023
2025: €659k▲ +70.4% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.70M-€1.71M▲ 0.8%€1.61M▼ 5.6%€1.74M▲ 7.7%€1.23M▼ 29.0%
2021: €1.70M
2022: €1.71M▲ +0.8% vs 2021
2023: €1.61M▼ -5.6% vs 2022
2024: €1.74M▲ +7.7% vs 2023highest in 5 years
2025: €1.23M▼ -29.0% vs 2024lowest in 5 years
Equity€687k-€721k▲ 4.8%€736k▲ 2.1%€752k▲ 2.2%€615k▼ 18.2%
2021: €687k
2022: €721k▲ +4.8% vs 2021
2023: €736k▲ +2.1% vs 2022
2024: €752k▲ +2.2% vs 2023highest in 5 years
2025: €615k▼ -18.2% vs 2024lowest in 5 years
Operating result€90k-€55k▼ 39.1%€48k▼ 12.5%€31k▼ 34.6%€22k▼ 29.0%
2021: €90khighest in 5 years
2022: €55k▼ -39.1% vs 2021
2023: €48k▼ -12.5% vs 2022
2024: €31k▼ -34.6% vs 2023
2025: €22k▼ -29.0% vs 2024lowest in 5 years
Net result€11k-€33k▲ 203%€15k▼ 54.0%€16k▲ 3.9%€-137k
2021: €11k
2022: €33k▲ +203% vs 2021highest in 5 years
2023: €15k▼ -54.0% vs 2022
2024: €16k▲ +3.9% vs 2023
2025: €-137k▼ -963% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 29% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.34M
Fixed assets
€338k ▼ 37.8%
Current assets
€1.00M ▼ 6.0%
Equity and liabilities €1.34M
Equity
€615k ▼ 18.2%
Debt
€725k ▼ 15.5%
Debt's share of the balance-sheet total rises from 53.3% to 54.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€360k▲
2024 · €360k
Cash flow
€201k▼
2024 · €344k
Current ratio
2.92▲
2024 · 1.57
Quick ratio
2.36▲
2024 · 1.42
Debt to equity
1.18▲
2024 · 1.14
ROE
-22.2%▼
2024 · 2.1%
ROA
-10.2%▼
2024 · 1.0%
Interest coverage
12.02▼
2024 · 68.08
Debt ≤ 1 year
€343k▼
2024 · €680k
Debt > 1 year
€382k▲
2024 · €178k
Income taxes
€250▼
2024 · €10k
Staff costs
€402k▼
2024 · €563k
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 · 63 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.61M€1.34M▼
Fixed assets21/28€543k€338k▼
Tangible fixed assets22/27€543k€338k▼
Plant, machinery and equipment23€522k€328k▼
Furniture and vehicles24€22k€10k▼
Current assets29/58€1.07M€1.00M▼
Amounts receivable after more than one year29-€313k
Other amounts receivable291-€313k
Stocks and contracts in progress3€98k€194k▲
Contracts in progress37€98k€194k▲
Amounts receivable within one year40/41€921k€441k▼
Trade receivables40€710k€173k▼
Other amounts receivable41€211k€268k▲
Cash at bank and in hand54/58€45k€46k▲
Deferred charges and accrued income490/1€1k€9k▲
Equity and liabilities
Total equity and liabilities10/49€1.61M€1.34M▼
Equity10/15€752k€615k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€683k€547k▼
Amounts payable17/49€858k€725k▼
Amounts payable after more than one year17€178k€382k▲
Financial debts170/4€178k€382k▲
Credit institutions173€178k-
Other loans174-€382k
Amounts payable within one year42/48€680k€343k▼
Current portion of amounts payable after more than one year42€260k€178k▼
Trade debts44€313k€23k▼
Suppliers440/4€313k€23k▼
Taxes, remuneration and social security45€53k€40k▼
Taxes450/3€345€128▼
Remuneration and social security454/9€53k€39k▼
Other amounts payable47/48€53k€102k▲
Income statement
Code20242025
Operating income70/76A€1.75M€1.37M▼
Turnover70€1.74M€1.23M▼
Change in stocks of work in progress, finished goods and contracts in progress71€-17k€95k▲
Other operating income74€28k€38k▲
Non-recurring operating income76A-€585
Operating charges60/66A€1.72M€1.34M▼
Goods for resale, raw materials and consumables60€508k€271k▼
Purchases600/8€508k€271k▼
Services and other goods61€313k€330k▲
Remuneration, social security and pensions62€563k€402k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€328k€338k▲
Other operating charges640/8€2k€2k▼
Operating profit (loss)9901€31k€22k▼
Financial charges65/66B€5k€159k▲
Recurring financial charges65€5k€32k▲
Debt charges650€5k€30k▲
Other financial charges652/9-€2k
Non-recurring financial charges66B-€127k
Profit (loss) for the period before taxes9903€26k€-136k▼
Income taxes67/77€10k€250▼
Taxes670/3€10k€250▼
Profit (loss) for the period9904€16k€-137k▼
Profit (loss) for the period to be appropriated9905€16k€-137k▼
Appropriation of the result
Profit (loss) to be appropriated9906€683k€547k▼
Profit (loss) brought forward from the previous period14P€668k€683k▲
Social balance
Average headcount (FTE)90877.75.9▼
The notes to these accounts (30 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €1.78M | €2.02M | €1.68M | €1.75M | €1.37M | ▼ 21.8% |
| Turnover70 | €1.70M | €1.71M | €1.61M | €1.74M | €1.23M | ▼ 29.0% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | €-30k | €37k | €65k | €-17k | €95k | ▲ 651% |
| Other operating income74 | €27k | €270k | €3k | €28k | €38k | ▲ 31.9% |
| Non-recurring operating income76A | €91k | - | - | - | €585 | - |
| Operating charges60/66A | €1.69M | €1.96M | €1.63M | €1.72M | €1.34M | ▼ 21.7% |
| Goods for resale, raw materials and consumables60 | €397k | €396k | €381k | €508k | €271k | ▼ 46.7% |
| Purchases600/8 | €397k | €396k | €381k | €508k | €271k | ▼ 46.7% |
| Services and other goods61 | €433k | €458k | €350k | €313k | €330k | ▲ 5.4% |
| Remuneration, social security and pensions62 | €556k | €665k | €548k | €563k | €402k | ▼ 28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €306k | €439k | €351k | €328k | €338k | ▲ 2.9% |
| Other operating charges640/8 | €2k | €2k | €2k | €2k | €2k | ▼ 22.6% |
| Operating profit (loss)9901 | €90k | €55k | €48k | €31k | €22k | ▼ 29.0% |
| Financial income75/76B | - | €5k | - | - | - | - |
| Recurring financial income75 | - | €5k | - | - | - | - |
| Income from financial fixed assets750 | - | €5k | - | - | - | - |
| Financial charges65/66B | €9k | €10k | €23k | €5k | €159k | ▲ 2,906% |
| Recurring financial charges65 | €9k | €10k | €23k | €5k | €32k | ▲ 502% |
| Debt charges650 | - | - | €23k | €5k | €30k | ▲ 467% |
| Other financial charges652/9 | €9k | €10k | - | - | €2k | - |
| Non-recurring financial charges66B | - | - | - | - | €127k | - |
| Profit (loss) for the period before taxes9903 | €81k | €50k | €25k | €26k | €-136k | ▼ 621% |
| Income taxes67/77 | €70k | €17k | €10k | €10k | €250 | ▼ 97.6% |
| Taxes670/3 | €70k | €17k | €10k | €10k | €250 | ▼ 97.6% |
| Profit (loss) for the period9904 | €11k | €33k | €15k | €16k | €-137k | ▼ 963% |
| Profit (loss) for the period to be appropriated9905 | €11k | €33k | €15k | €16k | €-137k | ▼ 963% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.70M | €2.07M | €1.90M | €1.61M | €1.34M | ▼ 16.8% |
| Fixed assets21/28 | €1.42M | €1.18M | €847k | €543k | €338k | ▼ 37.8% |
| Tangible fixed assets22/27 | €1.42M | €1.18M | €847k | €543k | €338k | ▼ 37.8% |
| Plant, machinery and equipment23 | €1.38M | €1.14M | €814k | €522k | €328k | ▼ 37.1% |
| Furniture and vehicles24 | €38k | €45k | €33k | €22k | €10k | ▼ 55.4% |
| Current assets29/58 | €1.29M | €888k | €1.06M | €1.07M | €1.00M | ▼ 6.0% |
| Amounts receivable after more than one year29 | - | - | - | - | €313k | - |
| Other amounts receivable291 | - | - | - | - | €313k | - |
| Stocks and contracts in progress3 | €13k | €50k | €116k | €98k | €194k | ▲ 96.7% |
| Contracts in progress37 | €13k | €50k | €116k | €98k | €194k | ▲ 96.7% |
| Amounts receivable within one year40/41 | €764k | €795k | €905k | €921k | €441k | ▼ 52.1% |
| Trade receivables40 | €582k | €606k | €693k | €710k | €173k | ▼ 75.6% |
| Other amounts receivable41 | €183k | €189k | €212k | €211k | €268k | ▲ 26.9% |
| Cash at bank and in hand54/58 | €509k | €38k | €20k | €45k | €46k | ▲ 1.1% |
| Deferred charges and accrued income490/1 | - | €4k | €15k | €1k | €9k | ▲ 540% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.70M | €2.07M | €1.90M | €1.61M | €1.34M | ▼ 16.8% |
| Equity10/15 | €687k | €721k | €736k | €752k | €615k | ▼ 18.2% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | = |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Profit (loss) carried forward14 | €619k | €652k | €668k | €683k | €547k | ▼ 20.0% |
| Amounts payable17/49 | €2.02M | €1.35M | €1.17M | €858k | €725k | ▼ 15.5% |
| Amounts payable after more than one year17 | €942k | €698k | €438k | €178k | €382k | ▲ 114% |
| Financial debts170/4 | €942k | €698k | €438k | €178k | €382k | ▲ 114% |
| Credit institutions173 | €942k | €698k | €438k | €178k | - | - |
| Other loans174 | - | - | - | - | €382k | - |
| Amounts payable within one year42/48 | €1.05M | €633k | €713k | €680k | €343k | ▼ 49.5% |
| Current portion of amounts payable after more than one year42 | €432k | €260k | €260k | €260k | €178k | ▼ 31.4% |
| Trade debts44 | €555k | €298k | €348k | €313k | €23k | ▼ 92.7% |
| Suppliers440/4 | €555k | €298k | €348k | €313k | €23k | ▼ 92.7% |
| Taxes, remuneration and social security45 | €45k | €53k | €62k | €53k | €40k | ▼ 26.0% |
| Taxes450/3 | - | - | - | €345 | €128 | ▼ 62.8% |
| Remuneration and social security454/9 | €45k | €53k | €62k | €53k | €39k | ▼ 25.8% |
| Other amounts payable47/48 | €19k | €21k | €43k | €53k | €102k | ▲ 92.0% |
| Accrued charges and deferred income492/3 | €23k | €20k | €16k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11k | €33k | €15k | €16k | €-137k | ▼ 963% |
| + Depreciation and write-downs630 | €306k | €439k | €351k | €328k | €338k | ▲ 2.9% |
| Operating cash flow (approximation) | €317k | €473k | €366k | €344k | €201k | ▼ 41.6% |
| Investment in fixed assets (approximation) | - | €-206k | €-14k | €-24k | €-133k | ▼ 442% |
| Change in cash | - | €-471k | €-18k | €25k | €513 | ▼ 97.9% |
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
2025
31-12
Financial
Weakest financial yearnet €-137k
Net result drops to €-137k, the lowest in the series.
24-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 55 days late
2024
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 23 days late
2023
22-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 53 days late
2022
10-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 10 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 20 days late
2020
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 56 days late
2019
31-12
Financial
Highest result since 2018net €71k ▲3,454%
Net result €71k, the highest in the series.
08-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 8 days late
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 14 days late
2017
11-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 11 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 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, Tielt · 1 establishment unit since 1991
Ground area
1.3 ha
Building footprint
8,276 m²
Volume, LiDAR
86,787 m³
Parcel 37302E0588/00C000, Flanders · tallest building 12.9 m, ±4 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
SOVA ENGINEERING NV
since 19912.051.570.487
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37302E0588/00C000 | Flanders | 1.3 ha | 1 · 8,276 m² | 12.9 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 2,223 EUR awarded · 1,248 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 2,223 EUR | 1,248 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Identification & contact
Identification
Legal formPublic limited company
Founded27-12-1990
Fiscal year end31-12
Activities, NACEBEL 2025
22260Manufacture of rubber and plastic products
25530Machining of metals
Scores and ratios are computed by Checked and are not a credit decision.