COW-STAR

Active

Private limited companyfounded 200917 yrs activeRue de la Poire d'Or(C.) 26, 7033 Mons, BelgiumKBO/BCE: BE 0817.750.283

Summary

COW-STAR has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-23k) and a net result of €8k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 8% of 11322 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

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Checked score

Score 2025

47 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100▲+100

Solvency0=

Growth58▲+26

Track record100

Bankruptcy probability, 12 months

0.9% Low

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.41 against 0.35 in 2024; short-term debt: 243.7% and cash: 0% of total assets), and equity is negative.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

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

−lowers risk+raises risk○neutral

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 2025

Solvency, return and age of the figures

Solvency

-143.7%

Return on assets

46.7%

Age of the figures

9 mo

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

Higher-failure-rate sector

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

Gazette · bankruptcies per sector, NACE 46

Relative position

BE, all sectors

reference

Sector 46

higher

← fewer bankruptcies more bankruptcies →

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 8% of 11322 sector peers (2025).

NBB · sector comparison

Position among 11322 sector peers

Solvency

better than 8%

← weakest strongest →

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-09-2026, 48 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 filings

Deviation from the deadline

2025

48 d late

2024

36 d late

2023

36 d late

2021

55 d late

2020

61 d late

2019

89 d late

2018

22 d late

← before the deadline after the deadline →

Checked, nothing found (2)

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 months

Position in the running window

24-09-2026 today31-12-2026 close31-07-2027 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 2025, micro schema

Equity

€-23k▲ 24.5%

2024 · €-31k

2018: €-15k 2019: €-22k 2020: €-8k 2021: €-1k 2023: €4k 2024: €-31k

2018 → 2025

Total assets

€16k▼ 1.9%

2024 · €17k

2018: €68k 2019: €63k 2020: €59k 2021: €59k 2023: €58k 2024: €17k

2018 → 2025

Net result

€8k

2024 · €-35k

2018: €112 2019: €-7k 2020: €14k 2021: €7k 2023: €2k 2024: €-35k

2018 → 2025

Working capital

€-23k▲ 24.5%

2024 · €-31k

2018: €-15k 2019: €-22k 2020: €-8k 2021: €-1k 2023: €4k 2024: €-31k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202320242025Trend

Equity€-8k-€-1k▲ 83.7%€4k€-31k€-23k▲ 24.5%

Operating result€21k-€13k▼ 38.9%€6k▼ 53.2%€-32k€8k

Net result€14k-€7k▼ 49.9%€2k▼ 73.1%€-35k€8k

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2025: €8k after a loss of €32k in 2024.

Key figures and ratios

2025 value · change against 2024

Solvency

-143.7%▲

2024 · -186.9%

Current ratio

0.41▲

2024 · 0.35

Debt to equity

-1.70▼

2024 · -1.54

ROA

46.7%▲

2024 · -211.2%

Debt

€39k▼

2024 · €47k

Debt ≤ 1 year

€39k▼

2024 · €47k

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 · 29 lines

Balance sheet Code20242025

Assets

Total assets20/58€17k€16k▼

Current assets29/58€17k€16k▼

Amounts receivable within one year40/41€176€191▲

Other amounts receivable41€176€191▲

Current investments50/53€16k€16k=

Cash at bank and in hand54/58€327€4▼

Equity and liabilities

Total equity and liabilities10/49€17k€16k▼

Equity10/15€-31k€-23k▲

Contributions10/11€30k€30k=

Reserves13€3k€3k=

Non-distributable reserves130/1€3k€3k=

Reserves not available under the articles1311€3k€3k=

Profit (loss) carried forward14€-64k€-56k▲

Amounts payable17/49€47k€39k▼

Amounts payable within one year42/48€47k€39k▼

Trade debts44€6k-

Suppliers440/4€6k-

Other amounts payable47/48€42k€39k▼

Income statement Code20242025

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€41k-

Non-recurring operating charges66A€6k-

Gross operating margin9900€15k€8k▼

Operating profit (loss)9901€-32k€8k▲

Financial charges65/66B€2k-

Recurring financial charges65€2k-

Profit (loss) for the period before taxes9903€-35k€8k▲

Profit (loss) for the period9904€-35k€8k▲

Profit (loss) for the period to be appropriated9905€-35k€8k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-64k€-56k▲

Profit (loss) brought forward from the previous period14P€-29k€-64k▼

The notes to these accounts (3 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 13Financial 3Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

17-09

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 48 days late

2025

31-12

Financial Back to profitnet €8k

Net result €8k after one loss-making year.

05-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 36 days late

2024

31-12

Financial Weakest financial yearnet €-35k ▼1938%

Net result drops to €-35k, the lowest in the series; recovery starts the following year.

05-09

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 36 days late

2022

24-09

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 55 days late

2021

30-09

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 61 days late

2020

31-12

Financial Back to profitnet €14k

Net result €14k after one loss-making year.

28-10

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 89 days late

2019

22-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 22 days late

19-02

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 203 days late

2017

29-09

NBB filing Annual accounts filed

fiscal year 2016 · micro schema · 60 days late

2016

30-09

NBB filing Annual accounts filed

fiscal year 2015 · full schema · 61 days late

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

Directors · office · real estate

Directors

4 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, Mons · 1 establishment unit since 2009

establishment 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.

Rue de la Poire d'Or(C.) 267033 Mons

Ground area

8,140 m²

Building footprint

2,796 m²

Volume, LiDAR

7,792 m³

2 parcels, Wallonia · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

COW-STAR

Agents in non-specialised wholesale trade

since 20092.180.297.209

2 parcels

Wallonia 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
92253D0280/00M004	Wallonia	5,977 m²	1 · 1,640 m²	-
53019A0246/00T000	Wallonia	2,163 m²	1 · 1,156 m²	9.3 m · 2 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Similar companies · same sector, comparable size

Technical Enterprises Company Belgium

BE 0739.585.309

Sint-Lambrechts-Woluwe · Eq €3,981

V&D HOME CONCEPT

BE 0443.616.533

Saint-Ghislain · Eq €4,043

AXIX

BE 0771.653.608

Deerlijk · Eq €4,044

Of 6,155 companies in sector 46190 we hold annual accounts for 2,570. 849 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded10-08-2009

Fiscal year end31-12

Legal name FR NBD Distribution

Activities, NACEBEL 2025

46190Agents in non-specialised wholesale trade

68310Real estate agency activities

Sources

Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.

Contact details

1 entry

Phone:0475/902620

Establishment 2.180.297.209