ACTIVE

COWALCA

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Financial year 2025 · closed on 31/12/2025

Net result

2,1 M €

+39.6% YoY

Revenue

29,7 M €

+15.8% YoY

Equity

12,2 M €

+14.2% YoY

Workforce

26,8 ETP

+9.8% YoY

What does COWALCA do?

COWALCA is a Public limited company incorporated in 1980. Its registered office is in Namur. It employs on average 26,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0421.052.452

Incorporation

12/12/1980

Legal form

Public limited company

Registered office

Rue des Pieds d'Alouette(NN) 18
5100 Namur · WallonieSee on map

Contributed capital

137 857,37 €

Latest accounts

31/12/2025

Average workforce

26,8 ETP

Joint committees (2)

Contacts

1 public detail availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	29,7 M €	+15.8%	25,7 M €	-10.2%	28,6 M €	+11.0%	25,7 M €	+40.3%	18,3 M €	+19.0%	15,4 M €	+3.1%	14,9 M €	+7.8%	13,9 M €	-1.2%	14 M €	+22.7%	11,4 M €	-4.3%	12 M €	-0.4%	12 M €	-4.9%	12,6 M €	+5.3%	12 M €	-1.6%	12,2 M €	+25.3%	9,7 M €		–		–		–		–
EBITDA	3,2 M €	+32.6%	2,4 M €	-37.3%	3,9 M €	+28.2%	3 M €	+61.9%	1,9 M €	+56.5%	1,2 M €	+3.0%	1,2 M €	+1.1%	1,1 M €	-29.0%	1,6 M €	+71.1%	938,2 k €	-33.9%	1,4 M €	+21.9%	1,2 M €	-22.7%	1,5 M €	-3.8%	1,6 M €	-14.1%	1,8 M €	+44.9%	1,3 M €	-4.2%	1,3 M €	+27.9%	1 M €	+22.8%	835,3 k €	+5.2%	794,3 k €
Operating result	2,8 M €	+38.8%	2 M €	-42.7%	3,5 M €	+29.3%	2,7 M €	+79.8%	1,5 M €	+65.6%	899,9 k €	-8.3%	981,5 k €	+0.8%	973,3 k €	-32.4%	1,4 M €	+91.0%	754,3 k €	-39.7%	1,3 M €	+27.4%	981,5 k €	-26.3%	1,3 M €	-5.9%	1,4 M €	-16.4%	1,7 M €	+45.4%	1,2 M €	-4.3%	1,2 M €	+31.1%	928,9 k €	+21.9%	762,3 k €	+6.7%	714,3 k €
Net result	2,1 M €	+39.6%	1,5 M €	-41.7%	2,6 M €	+30.1%	2 M €	+74.9%	1,1 M €	+58.9%	719,1 k €	+0.1%	718,3 k €	-1.4%	728,2 k €	-36.8%	1,2 M €	+104%	565,2 k €	-37.7%	907,4 k €	+22.6%	740 k €	-23.9%	972,3 k €	-4.1%	1 M €	-13.9%	1,2 M €	+46.5%	804,3 k €	-4.6%	843,1 k €	+30.8%	644,5 k €	+21.4%	531,1 k €	+9.4%	485,4 k €
Balance sheet
Equity	12,2 M €	+14.2%	10,7 M €	+9.4%	9,8 M €	+24.1%	7,9 M €	-18.4%	9,7 M €	+8.3%	8,9 M €	+4.9%	8,5 M €	+5.1%	8,1 M €	+9.1%	7,4 M €	+8.5%	6,8 M €	+3.9%	6,6 M €	+10.2%	6 M €	+10.3%	5,4 M €	+10.8%	4,9 M €	+11.2%	4,4 M €	+16.5%	3,8 M €	+19.3%	3,2 M €	+28.6%	2,5 M €	+28.0%	1,9 M €	+16.7%	1,6 M €
Total assets	15,9 M €	+9.3%	14,6 M €	+2.1%	14,3 M €	-5.7%	15,1 M €	+24.9%	12,1 M €	+1.6%	11,9 M €	+4.6%	11,4 M €	+8.8%	10,5 M €	+10.5%	9,5 M €	+5.6%	9 M €	+11.5%	8 M €	+0.7%	8 M €	+6.4%	7,5 M €	+8.5%	6,9 M €	+17.7%	5,9 M €	+4.1%	5,6 M €	+23.1%	4,6 M €	+14.2%	4 M €	+36.7%	2,9 M €	+5.5%	2,8 M €
Cash	2,9 M €	+53.9%	1,9 M €	+7.3%	1,7 M €	-38.1%	2,8 M €	+42.1%	2 M €	-48.7%	3,8 M €	+10.8%	3,5 M €	+24.9%	2,8 M €	+16.5%	2,4 M €	+2.8%	2,3 M €	-2.2%	2,4 M €	+70.6%	1,4 M €	+88.8%	735,8 k €	-3.5%	762,5 k €	-15.1%	898 k €	-31.6%	1,3 M €	+35.3%	970,7 k €	+140%	403,9 k €	-32.8%	601 k €	+34.1%	448,3 k €
Debts	3,7 M €	-4.0%	3,9 M €	-13.9%	4,5 M €	-38.1%	7,2 M €	+196%	2,4 M €	-18.4%	3 M €	+3.6%	2,9 M €	+21.9%	2,4 M €	+15.9%	2 M €	-3.7%	2,1 M €	+45.9%	1,5 M €	-27.1%	2 M €	-3.9%	2,1 M €	+2.9%	2 M €	+37.1%	1,5 M €	-20.9%	1,9 M €	+31.4%	1,4 M €	-8.4%	1,6 M €	+52.7%	1 M €	-10.8%	1,1 M €
Other
Workforce	26,8 ETP	+9.8%	24,4 ETP	+3.8%	23,5 ETP	+4.9%	22,4 ETP	+31.0%	17,1 ETP	+6.2%	16,1 ETP	+16.7%	13,8 ETP	+7.8%	12,8 ETP	+20.8%	10,6 ETP	+15.2%	9,2 ETP	-10.7%	10,3 ETP	+22.6%	8,4 ETP	0.0%	8,4 ETP	+5.0%	8,0 ETP	+15.9%	6,9 ETP	+13.1%	6,1 ETP	+32.6%	4,6 ETP	0.0%	4,6 ETP	+4.5%	4,4 ETP	+7.3%	4,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 8 ended

Active mandates

Didier MEURISSE

Managing director · until 05 avril 2027

Active

Isabelle LARDOT

Managing director · until 05 avril 2027

Active

Vincent TRENTELS

Director · until 05 avril 2027

Active

Ended mandates

Vincent TRENTELS

Director · since 09 octobre 2019 · until 05 avril 2021

Ended

Didier MEURISSE

Managing director · since 06 avril 2015 · until 05 avril 2021

Ended

Françoise LARDOT

Director · since 06 avril 2015 · until 30 septembre 2019

Ended

Isabelle LARDOT

Managing director · since 06 avril 2015 · until 05 avril 2021

Ended

At this address

Other companies at this address

Company	CBE no.
ANTINUISIBLE● Active	0751.525.910
COWALIMMO● Active	0716.620.360
ERADICATION● Active	0692.668.783

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	23/04/2026	03/06/2025	31/05/2024	11/07/2023	02/05/2022	10/05/2021
General meeting	15/04/2026	07/04/2025	02/04/2024	03/04/2023	04/04/2022	06/04/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	15/04/2026	23/04/2026	French	PDF
Full model	31/12/2024	07/04/2025	03/06/2025	French	PDF
Full model	31/12/2023	02/04/2024	31/05/2024	French	PDF
Full modelCorrection	31/12/2022	03/04/2023	11/07/2023	French	PDF
Full model	31/12/2022	03/04/2023	22/05/2023	French	PDF
Full model	31/12/2021	04/04/2022	02/05/2022	French	PDF
Full model	31/12/2020	06/04/2021	10/05/2021	French	PDF
Full model	31/12/2019	06/04/2020	10/06/2020	French	PDF
Full modelCorrection	31/12/2018	01/04/2019	12/09/2019	French	PDF
Full model	31/12/2018	01/04/2019	30/08/2019	French	PDF
Full model	31/12/2017	08/06/2018	24/08/2018	French	PDF
Full model	31/12/2016	04/04/2017	25/08/2017	French	PDF
Full model	31/12/2015	04/04/2016	24/08/2016	French	PDF
Full model	31/12/2014	06/04/2015	26/08/2015	French	PDF
Full model	31/12/2013	07/04/2014	22/08/2014	French	PDF
Full model	31/12/2012	02/04/2013	27/06/2013	French	PDF
Full model	31/12/2011	19/04/2012	26/07/2012	French	PDF
Full model	31/12/2010	07/06/2011	03/08/2011	French	PDF
Abridged model	31/12/2009	07/07/2010	12/07/2010	French	PDF
Abridged model	31/12/2008	08/07/2009	22/07/2009	French	PDF
Abridged model	31/12/2007	30/06/2008	07/07/2008	French	PDF
Abridged model	31/12/2006	12/07/2007	25/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 8 ended

Active mandates

Didier MEURISSE

Managing director · until 05 avril 2027

Active

Isabelle LARDOT

Managing director · until 05 avril 2027

Active

Vincent TRENTELS

Director · until 05 avril 2027

Active

Ended mandates

Vincent TRENTELS

Director · since 09 octobre 2019 · until 05 avril 2021

Ended

Didier MEURISSE

Managing director · since 06 avril 2015 · until 05 avril 2021

Ended

Françoise LARDOT

Director · since 06 avril 2015 · until 30 septembre 2019

Ended

Isabelle LARDOT

Managing director · since 06 avril 2015 · until 05 avril 2021

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Capital / shares22/09/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET - CAPITAL, ACTIONS
PDF
Mandates30/04/2021
DEMISSIONS, NOMINATIONS
PDF
Registered office21/08/2020
SIEGE SOCIAL
PDF
Mandates19/11/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates21/12/2015
DEMISSIONS, NOMINATIONS
PDF
Capital / shares17/01/2014
CAPITAL, ACTIONS
PDF
Restructuring19/04/2012
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring23/02/2012
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20252,1 M €↑
2024
Annual accounts 20241,5 M €↓
2023
Annual accounts 20232,6 M €↑
2022
Annual accounts 20222 M €↑
2021
Annual accounts 20211,1 M €↑
2020
Annual accounts 2020719,1 k €↑
2019
Annual accounts 2019718,3 k €↓
2018
Annual accounts 2018728,2 k €↓
2017
Annual accounts 20171,2 M €↑
2016
Annual accounts 2016565,2 k €↓
2015
Annual accounts 2015907,4 k €↑
2014
Annual accounts 2014740 k €↓
2013
Annual accounts 2013972,3 k €↓
2012
Annual accounts 20121 M €↓
2011
Annual accounts 20111,2 M €↑
2010
Annual accounts 2010804,3 k €↓
2009
Annual accounts 2009843,1 k €↑
2008
Annual accounts 2008644,5 k €↑
2007
Annual accounts 2007531,1 k €↑
2006
Annual accounts 2006485,4 k €
12/12/1980
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

COWALCA

Overview

What does COWALCA do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline