Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 4.6 to 3.6.
Financials
Financial year 2025
KOVAG Accountancy from Gent, company number BE0878290557, closed financial year 2025 with a result of € -37,709 after tax. For that financial year KOVAG Accountancy recorded a gross margin of € 223,414 and equity of € 621,265. Compared with financial year 2024, the result moved from € 84,425 to € -37,709. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on March 13, 2026.
€ 621,265
▼ 6% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -37,709
▼ still € 84,425 profit in 2024
Profit after tax over the fiscal year.
€ 174,699
▼ 44% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -73,735.
People and assets in 2025
3.6
▼ 0.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 253,918
▼ 25% vs 2024
€ 70,500 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.
€ 11,302
▲ € 8,613 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 316,043
Loans from banks and other lenders, long and short.
€ 258,925
▲ 1% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 17,354
▼ 69% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 360,808 | € 467,045 | € 440,790 | € 223,414 | ▼ 49% |
| Profit after taxes | € 62,279 | € 100,329 | € 84,425 | € -37,709 | ▼ € 122,134 |
| Equity | € 474,220 | € 574,549 | € 658,974 | € 621,265 | ▼ 6% |
| Total debts | € 616,152 | € 756,956 | € 742,742 | € 627,422 | ▼ 16% |
| Cash | € 250,037 | € 131,634 | € 313,399 | € 174,699 | ▼ 44% |
| Retained profit | € -220,780 | € -120,451 | € -36,026 | € -73,735 | ▼ € 37,709 |
| Bank debt | € 316,043 | € 316,043 | € 316,043 | € 316,043 | |
| Balance sheet total | € 1,090,373 | € 1,331,506 | € 1,401,716 | € 1,248,687 | ▼ 11% |
| Employees (FTE) | 4.3 | 4.6 | 4.5 | 3.6 | ▼ 0.9 |
Key figures of KOVAG Accountancy, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to KOVAG Accountancy?
What happened at KOVAG Accountancy in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 37,709 (▼ € 122,134 vs 2024). filed late Source: NBB ↗
- Arjo BV became a director. NBB
- L. Mertens Accountancy Group Comm.V became a director. NBB
- Het Accountantskantoor Soenen & Partners BV became a director. NBB
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
In short
From € 62,279 profit in 2022 to € 37,709 loss in 2025.
Paid € 37,602 in corporate taxes since 2022.
Best year ever: 2023, with € 100,329 profit.
On average € 62,100 of value added per employee in 2025.
Management
Behind KOVAG Accountancy are Arjo BV, L. Mertens Accountancy Group Comm.V and Het Accountantskantoor Soenen & Partners BV. Arjo BV is also behind OFFIMED.
Directors
According to the 2025 annual accounts
L. Mertens Accountancy Group Comm.V
Director · represented by Ludovic Mertens
since 2024
Het Accountantskantoor Soenen & Partners BV
Director · represented by Wim Grammens
since 2024
Establishments
Establishment units
Physical locations of this company
Brouwerijstraat 1 box 3A
9031 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Certifications & Partners
Hosting & Email
Email provider
Microsoft 365
Hosting
LEVEL27-AS * Please direct all complaints to [email protected] *, BE
Website info
Features
Security
Network
Details
- Company number
- 0878.290.557
- VAT number
- BE 0878.290.557
- Registered office
- Brouwerijstraat 1 bus 3A, 9031 Gent
- Names & denominations
- KOVAG Accountancy
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 27 December 2005
- Peppol
- Active · Active since 21 Mar 2025
- Contact
- kovag.be
- Activities · NACE
Activiteiten van (gecertificeerde) (fiscaal) accountants
Accountants