SOVITEC BELGIUM

Active

Public limited companyfounded 200422 yrs activeAvenue du Marquis(FL) 4, 6220 Fleurus, BelgiumKBO/BCE: BE 0866.000.855

SOVITEC BELGIUM has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.42M and a net result of €-171k. Equity is shrinking by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 9% of 318 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).

Watch Print / PDF

Checked score

Score 2024

28 / 100

Weak▲ +16 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability22▲+22

Solvency11▼-23

Growth22=

Stability100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €40k at 30 days only on tighter terms

Liquidity short (current ratio 0.67 against 2.59 in 2023), and 88.4% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 23

Relative position

BE, all sectors

reference

Sector 23

lower

← fewer bankruptcies more bankruptcies →

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

11.6%

Return on assets

-1.4%

Age of the figures

20 mo

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 318 sector peers (2024).

NBB · sector comparison

Position among 318 sector peers

Solvency

better than 9%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-07-2025, 24 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

24 d early

2023

26 d early

2022

25 d early

2021

40 d early

2020

39 d early

2019

56 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, full schema

Turnover

€11.52M▼ 6.5%

2023 · €12.33M

2018: €18.57M 2019: €14.78M 2021: €13.59M 2023: €12.33M

2018 → 2024

EBIT margin

2.3%▲ 9.3pp

2023 · -7.0%

2018: 7.7% 2019: -1.7% 2021: 4.8% 2023: -7.0%

2018 → 2024

Net result

€-171k▲ 86.7%

2023 · €-1.28M

2018: €1.18M 2019: €-473k 2021: €487k 2023: €-1.28M

2018 → 2024

Working capital

€-3.61M

2023 · €4.22M

2018: €-1.59M 2019: €-2.46M 2021: €-2.81M 2023: €4.22M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20182019202120232024Trend

Turnover€18.57M-€14.78M▼ 20.4%€13.59M▼ 8.0%€12.33M▼ 9.3%€11.52M▼ 6.5%

Equity€1.86M-€1.39M▼ 25.4%€1.35M▼ 2.2%€63k▼ 95.3%€1.42M▲ 2,147%

Operating result€1.43M-€-254k€652k€-859k€264k

Net result€1.18M-€-473k€487k€-1.28M€-171k▲ 86.7%

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2024: €264k after a loss of €859k in 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €12.25M

41.4%

58.6%

Fixed assets €5.07M▼ 8.7%

Current assets €7.18M▲ 4.6%

Equity and liabilities €12.25M

12%

88.4%

Equity €1.42M▲ 2,147%

Debt €10.83M▼ 12.4%

The debt ratio falls from 99.5% to 88.4%: equity grows while debt is paid down.

Key figures and ratios

2024 value · change against 2023

EBITDA

€1.11M▲

2023 · €-52k

Cash flow

€680k▲

2023 · €-476k

Solvency

11.6%▲

2023 · 0.5%

Current ratio

0.67▼

2023 · 2.59

Quick ratio

0.17▼

2023 · 0.49

Debt / equity

7.61

ROE

-12.0%

ROA

-1.4%▲

2023 · -10.3%

Interest coverage

2.41▲

2023 · -0.12

Debt

€10.83M▼

2023 · €12.36M

Debt ≤ 1 year

€10.80M▲

2023 · €2.65M

Income taxes

€-43k▼

2023 · €2k

Staff costs

€2.06M▼

2023 · €2.08M

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€12.42M€12.25M▼

Fixed assets21/28€5.55M€5.07M▼

Intangible fixed assets21€582€105▼

Tangible fixed assets22/27€5.55M€5.07M▼

Land and buildings22€1.20M€1.09M▼

Plant, machinery and equipment23€4.22M€3.63M▼

Furniture and vehicles24€33k€18k▼

Assets under construction and advance payments27€103k€336k▲

Current assets29/58€6.87M€7.18M▲

Stocks and contracts in progress3€5.56M€5.32M▼

Stocks30/36€5.56M€5.32M▼

Raw materials and consumables30/31€1.53M€1.93M▲

Work in progress32€13k-

Finished goods33€4.01M€3.39M▼

Goods purchased for resale34€1k€1k=

Amounts receivable within one year40/41€1.30M€1.85M▲

Trade receivables40€1.10M€1.59M▲

Other amounts receivable41€197k€260k▲

Cash at bank and in hand54/58€394€2k▲

Deferred charges and accrued income490/1€9k€7k▼

Equity and liabilities

Total equity and liabilities10/49€12.42M€12.25M▼

Equity10/15€63k€1.42M▲

Contributions10/11€1.45M€1.58M▲

Capital10€1.45M€1.58M▲

Issued capital100€1.45M€1.58M▲

Reserves13€13k€13k=

Non-distributable reserves130/1€13k€13k=

Legal reserve130€13k€13k=

Profit (loss) carried forward14€-1.40M€-171k▲

Amounts payable17/49€12.36M€10.83M▼

Amounts payable after more than one year17€9.54M-

Financial debts170/4€9.54M-

Other loans174€9.54M-

Amounts payable within one year42/48€2.65M€10.80M▲

Current portion of amounts payable after more than one year42€3k-

Trade debts44€2.35M€2.65M▲

Suppliers440/4€2.35M€2.65M▲

Taxes, remuneration and social security45€265k€278k▲

Taxes450/3€7k€11k▲

Remuneration and social security454/9€258k€267k▲

Other amounts payable47/48€29k€7.87M▲

Accrued charges and deferred income492/3€173k€34k▼

Income statement Code20232024

Operating income70/76A€12.51M€15.61M▲

Turnover70€12.33M€11.52M▼

Change in stocks of work in progress, finished goods and contracts in progress71€180k€4.08M▲

Other operating income74€2k€3k▲

Operating charges60/66A€13.37M€15.35M▲

Goods for resale, raw materials and consumables60€3.92M€7.93M▲

Purchases600/8€3.75M€3.26M▼

Change in stocks: decrease (increase)609€171k€4.67M▲

Services and other goods61€6.22M€4.76M▼

Remuneration, social security and pensions62€2.08M€2.06M▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€806k€850k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€209k€-350k▼

Other operating charges640/8€102k€96k▼

Non-recurring operating charges66A€25k-

Operating profit (loss)9901€-859k€264k▲

Financial income75/76B€12k€168▼

Recurring financial income75€75€168▲

Other financial income752/9€75€168▲

Non-recurring financial income76B€12k-

Financial charges65/66B€434k€478k▲

Recurring financial charges65€434k€478k▲

Debt charges650€421k€463k▲

Other financial charges652/9€13k€15k▲

Profit (loss) for the period before taxes9903€-1.28M€-214k▲

Income taxes67/77€2k€-43k▼

Taxes670/3€2k€2k▼

Tax adjustments and reversals of tax provisions77-€45k

Profit (loss) for the period9904€-1.28M€-171k▲

Profit (loss) for the period to be appropriated9905€-1.28M€-171k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-1.40M€-1.57M▼

Profit (loss) brought forward from the previous period14P€-116k€-1.40M▼

Transfer from equity791/2-€1.40M

From contributions791-€1.40M

Social balance

Average headcount (FTE)908734.331.7▼

The notes to these accounts (65 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 14Financial 4Filings 10

2025

07-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

31-12

Financial Equity above €1MEq €1.42M ▲2147%

Equity rises from €63k to €1.42M.

05-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-12

Financial Weakest financial yearnet €-1.28M ▼363%

Net result drops to €-1.28M, the lowest in the series; recovery starts the following year.

31-12

Financial Liquidity quadruplescurrent ratio 2.59

Current ratio from 0.67 to 2.59; short-term debt falls from €8.52M to €2.65M.

06-07

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

21-06

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

31-12

Financial Back to profitnet €487k

Net result €487k after one loss-making year.

22-06

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

25-09

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 56 days late

2019

25-11

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 117 days late

2018

25-07

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

29-06

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

25-08

NBB filing Annual accounts filed

fiscal year 2015 · full schema · 25 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2020

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.

14-12-2020 Joseph Steven Koscinski: Resigned as Director

10-12-2019 Walter Belderbos: Resigned as Director

06-02-2019 Peter Kalis: Resigned as Director

05-12-2014 Benoit Tas: Resigned as Director

05-12-2014 Werner Poot: Resigned as Director

06-06-2014 Wemer Poot: Resigned as Director

04-06-2014 Benoit Tas: Resigned as Director

Location & real-estate footprint

Registered office, Fleurus · 1 establishment unit since 2004

establishment approximate The establishment unit on the map

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.