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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Busy address KBO
47 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2026
COWATER INTERNATIONAL from Schaarbeek, company number BE0425684302, closed financial year 2026 with a result of € 669,793 after tax. For that financial year COWATER INTERNATIONAL recorded revenue of € 32 million and equity of € 5.7 million. Compared with financial year 2025, the result moved from € 1.3 million to € 669,793. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on August 1, 2026.
€ 5.7 million
▲ 2% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 669,793
▼ 47% vs 2025
Profit after tax over the fiscal year.
€ 1.3 million
▼ 10% vs 2025
Cash and bank balances on the last day of the fiscal year.
€ 535,000 paid out
80 % of the profit went to the shareholders, mostly to GROUPE COWATER HOLDING BELGIQUE (100 % of the shares). That is where the money ends up.
People and assets in 2026
27.1
▼ 1.6 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 2.3 million
▼ 1% vs 2025
€ 83,300 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.
€ 29,447
▼ 25% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
None
No bank loans on the last day of the fiscal year.
€ 5.3 million
▼ 27% vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 67 days on average.
€ 348,316
▲ 14% vs 2025
Taxes, VAT and social contributions still to pay.
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| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | € 25,215,302 | € 25,305,011 | € 25,847,023 | € 31,964,583 | ▲ 24% |
| Profit after taxes | € 1,076,194 | € 1,044,266 | € 1,265,520 | € 669,793 | ▼ 47% |
| Equity | € 5,472,887 | € 5,317,153 | € 5,582,673 | € 5,717,465 | ▲ 2% |
| Total debts | € 12,993,837 | € 14,406,338 | € 21,320,738 | € 17,693,530 | ▼ 17% |
| Cash | € 3,757,440 | € 741,173 | € 1,448,911 | € 1,306,510 | ▼ 10% |
| Retained profit | € 2,969,887 | € 2,814,153 | € 3,079,673 | € 3,214,465 | ▲ 4% |
| Dividend | € 1,000,000 | € 1,200,000 | € 1,000,000 | € 535,000 | ▼ 46% |
| Balance sheet total | € 18,466,724 | € 19,862,385 | € 27,042,305 | € 23,527,163 | ▼ 13% |
| Employees (FTE) | 22.4 | 28.8 | 28.7 | 27.1 | ▼ 1.6 |
Key figures of COWATER INTERNATIONAL, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to COWATER INTERNATIONAL?
What happened at COWATER INTERNATIONAL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Cowater International Holdings Inc. stepped down as director. NBB
- Cowater International Inc stepped down as director. NBB
- Marie-Astrid Corbisier stepped down as director. NBB
- New annual accounts for financial year 2026: profit of € 669,793 (▼ 47% vs 2025). Source: NBB ↗
- Cowater International Holdings Inc. became a director. NBB
- Cowater International Inc became a director. NBB
- Marie-Astrid Corbisier became a director. NBB
- New establishment in Schaarbeek. KBO
In short
From € 1.1 million profit in 2023 to € 669,793 profit in 2026.
Paid € 1.5 million in corporate taxes since 2023.
Best year ever: 2025, with € 1.3 million profit.
Paid out € 3.7 million in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of GROUPE COWATER HOLDING BELGIQUE comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
COWATER INTERNATIONALThe shares are held by GROUPE COWATER HOLDING BELGIQUE (100%). It owns 100% of Cowater International Sweden, 100% of Cowater International Finland and 100% of Cowater International Germany itself.
Directors
According to the 2026 annual accounts
Cowater International Holdings Inc.
Director · represented by David, Alexander Baron
since 2025 · until 2031
Cowater International Inc
Director · represented by Daniel, James Coleman
since 2025 · until 2031
Marie-Astrid Corbisier
Managing director
Also active at: Support To Electoral Process, TIMANMAY CONSULTING
since 2025 · until 2031
Shareholders
Participations
Cowater International Sweden
100%
Cowater International Finland
100%
Cowater International Germany
100%
Establishments
Establishment units
Physical locations of this company
Auguste Reyerslaan 70
1030 Schaarbeek
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 47 companies are registered at this address.
All companies at this address →Openbaar Centrum voor Maatschappelijk Welzijn van Schaarbeek
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€ 3.8 million revenue · 2025
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€ 81,567 gross margin · 2024
FEDERATION INTERNATIONALE Du LAIT
€ 710,637 gross margin · 2025
BIOPLUS-PROBOIS
+42 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
- 0425.684.302
- VAT number
- BE 0425.684.302
- Registered office
- Auguste Reyerslaan 70, 1030 Schaarbeek
- Names & denominations
- COWATER INTERNATIONAL
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 29 December 1983
- Peppol
- Active · Active since 20 Nov 2020
- Activities · NACE
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