Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 36 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 6.7 to 5.3.
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Busy address KBO
26 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
COVEBAT from Thimister-Clermont, company number BE0419620416, closed financial year 2025 with a result of € 174,848 after tax. For that financial year COVEBAT recorded a gross margin of € 531,772 and equity of € -1.2 million. Compared with financial year 2024, the result moved from € 47,400 to € 174,848. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 30, 2026.
€ -1.2 million
▲ € 174,848 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 174,848
▲ 269% vs 2024
Profit after tax over the fiscal year.
€ 27,523
▲ 76% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -1.3 million.
People and assets in 2025
5.3
▼ 0.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 313,235
▼ 1% vs 2024
€ 59,100 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 22,212
▼ 55% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 658,106
▼ 8% vs 2024
€ 55,616 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 409,625
▲ 75% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 38,628
▼ 1% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 655,518 | € 530,380 | € 436,177 | € 531,772 | ▲ 22% |
| Profit after taxes | € 44,533 | € 91,235 | € 47,400 | € 174,848 | ▲ 269% |
| Equity | € -1,507,069 | € -1,415,834 | € -1,368,434 | € -1,193,586 | ▲ € 174,848 |
| Total debts | € 2,607,614 | € 2,873,735 | € 2,038,041 | € 2,159,938 | ▲ 6% |
| Cash | € 25,096 | € 61,454 | € 15,666 | € 27,523 | ▲ 76% |
| Land & buildings | € 443,856 | € 419,121 | - | - | |
| Retained profit | € -1,579,515 | € -1,490,141 | € -1,442,740 | € -1,267,892 | ▲ € 174,848 |
| Bank debt | € 1,103,065 | € 1,013,549 | € 712,069 | € 658,106 | ▼ 8% |
| Balance sheet total | € 1,100,545 | € 1,457,900 | € 669,607 | € 966,352 | ▲ 44% |
| Employees (FTE) | 9.5 | 6.7 | 5.6 | 5.3 | ▼ 0.3 |
Key figures of COVEBAT, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to COVEBAT?
What happened at COVEBAT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 174,848 (▲ 269% vs 2024). Source: NBB ↗
- SERBI SA became a director. NBB
- New establishment in Thimister-Clermont. KBO
- GEHLEN MANAGEMENT SRL became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 44,533 profit in 2022 to € 174,848 profit in 2025.
Paid € 2,285 in corporate taxes since 2022.
Best year ever: 2025, with € 174,848 profit.
On average € 100,300 of value added per employee in 2025.
Management
The stake of SERBI, GEHLEN MANAGEMENT comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
COVEBATBehind COVEBAT are SERBI SA and GEHLEN MANAGEMENT SRL. The shares are held by SERBI (100%) and GEHLEN MANAGEMENT (99.5%).
Directors
According to the 2025 annual accounts
Administrateur · represented by Jean-Pierre ALVAREZ-ALONSO
Also active at: G-Bois, BSL RENOVATION
since 2023
Administrateur · represented by Roger GEHLEN
Also active at: UNIMMO, GEHLEN IMMO, ETABLISSEMENTS PAULY - ANDRIANNE, G-Bois, COMBLAIN MOTORS, ROGER GEHLEN, SERBI, ARDENNE RAILS +27 more
since 2016
Shareholders
100%
99.5%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue du Bosquet 3
4890 Thimister-Clermont
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 26 companies are registered at this address.
All companies at this address →GEHLEN IMMO same network
€ 283,272 gross margin · 2025
G-Bois same network
€ 1.2 million gross margin · 2025
SERBI same network
€ 45 million revenue · 2025
Espace Industriel des Plénesses
€ 1.3 million gross margin · 2025
IMMO-PARQ same network
€ -1,562 gross margin · 2025
+21 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0419.620.416
- VAT number
- BE 0419.620.416
- Registered office
- Rue du Bosquet 3, 4890 Thimister-Clermont
- Names & denominations
- COVEBAT
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 June 1979
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Groothandel in bouwmaterialen, algemeen assortiment
Groothandel in verf, vernis en bouwmaterialen, inclusief sanitair
Schrijnwerk
Schrijnwerk van hout of van kunststof
Goederenvervoer over de weg
Algemene bouw van residentiële gebouwen
Algemene elektrotechnische installatiewerken
Overige gespecialiseerde bouwactiviteiten, neg
+4