ACTIVE

COWATER INTERNATIONAL

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Financial year 2026 · Closed on 31/03/2026

Net result669,8 k €-47,1 %over 1 year
Revenue32 M €+23,7 %over 1 year
Equity5,7 M €+2,4 %over 1 year
Workforce27,1 ETP-5,6 %over 1 year

Identity

Source · BCE/KBO

COWATER INTERNATIONAL is a Public limited company incorporated in 1983. Its main activity is: Management consultancy activities. Its registered office is in Schaerbeek. It employs on average 27,1 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0425.684.302
Incorporation
29/12/1983
Legal form
Public limited company
Registered office
Boulevard Auguste Reyers 70
1030 Schaerbeek · BruxellesSee on map
Contributed capital
2 503 000,00 €
Latest accounts
31/03/2026
Average workforce
27,1 ETP
Joint committees (3)
  • 100
  • 200
  • 218
Signals
ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 20 financial years

20262025202420232022
Income statement
Revenue32 M €25,8 M €25,3 M €25,2 M €33,2 M €
EBITDA1,3 M €1,8 M €1,8 M €1,5 M €1,6 M €
Operating result1,2 M €1,7 M €1,4 M €1,4 M €1,5 M €
Net result669,8 k €1,3 M €1 M €1,1 M €1,1 M €
Balance sheet
Equity5,7 M €5,6 M €5,3 M €5,5 M €5,4 M €
Total assets23,5 M €27 M €19,9 M €18,5 M €26,7 M €
Cash1,3 M €1,4 M €741,2 k €3,8 M €6,4 M €
Debts17,7 M €21,3 M €14,4 M €13 M €20,9 M €
Other
Workforce27,1 ETP28,7 ETP28,8 ETP22,4 ETP24,6 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/03/2026

3 active · 93 ended

Active mandates

Cowater International Holdings Inc.

Director · since 25 juillet 2025 · until 25 juillet 2031

Represented by David, Alexander Baron

Active
Cowater International Inc

Director · since 25 juillet 2025 · until 25 juillet 2031

Represented by Daniel, James Coleman

Active
Marie-Astrid Corbisier

Managing director · since 25 juillet 2025 · until 25 juillet 2031

Active

Ended mandates

Cowater International Holdings Inc.

Director · since 01 avril 2021 · until 12 mai 2026

Represented by David, Alexander Baron

Ended
Cowater International Inc

Director · since 01 avril 2021 · until 12 mai 2026

Represented by Daniel, James Coleman

Ended
Cowater Group Inc

Director · since 09 octobre 2020 · until 31 mars 2021

Represented by David, Alexander Baron

Ended
Cowater Group Inc

Director · since 09 octobre 2020 · until 12 mai 2026

Represented by David, Alexander Baron

Ended

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Boulevard Auguste Reyers 70 1030 Schaerbeek
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Full financial information

Source · NBB
202620252024202320222020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/04/202501/04/202401/04/202301/04/202201/01/202101/01/2020
Closing of the financial year31/03/202631/03/202531/03/202431/03/202331/03/202231/12/2020
Length of the financial year12 months12 months12 months12 months15 months12 months
Filing date01/08/202605/08/202505/07/202426/09/202307/10/202227/05/2021
General meeting31/07/202625/07/202501/07/202430/08/202309/09/202211/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/03/202631/07/202601/08/2026FrenchPDF
Full model31/03/202525/07/202505/08/2025FrenchPDF
Full model31/03/202401/07/202405/07/2024FrenchPDF
Full model31/03/202330/08/202326/09/2023FrenchPDF
Full model31/03/202209/09/202207/10/2022FrenchPDF
Full model31/12/202011/05/202127/05/2021FrenchPDF
Full model31/12/201927/03/202021/04/2020FrenchPDF
Full model31/12/201804/06/201924/06/2019FrenchPDF
Full model31/12/201708/05/201826/06/2018FrenchPDF
Full model31/12/201609/05/201710/05/2017FrenchPDF
Full model31/08/201508/12/201506/01/2016FrenchPDF
Full model31/08/201409/12/201412/12/2014FrenchPDF
Full model31/08/201309/12/201317/12/2013FrenchPDF
Full model31/08/201211/12/201213/12/2012FrenchPDF
Full model31/08/201113/12/201122/12/2011FrenchPDF
Full model31/08/201014/12/201022/12/2010FrenchPDF
Full model31/08/200908/12/200909/12/2009FrenchPDF
Full model31/08/200809/12/200816/12/2008FrenchPDF
Full model31/08/200711/12/200711/01/2008FrenchPDF
Full model31/08/200612/12/200624/07/2007FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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.

Board of directors

Source · NBB, accounts to 31/03/2026

3 active · 93 ended

Active mandates

Cowater International Holdings Inc.

Director · since 25 juillet 2025 · until 25 juillet 2031

Represented by David, Alexander Baron

Active
Cowater International Inc

Director · since 25 juillet 2025 · until 25 juillet 2031

Represented by Daniel, James Coleman

Active
Marie-Astrid Corbisier

Managing director · since 25 juillet 2025 · until 25 juillet 2031

Active

Ended mandates

Cowater International Holdings Inc.

Director · since 01 avril 2021 · until 12 mai 2026

Represented by David, Alexander Baron

Ended
Cowater International Inc

Director · since 01 avril 2021 · until 12 mai 2026

Represented by Daniel, James Coleman

Ended
Cowater Group Inc

Director · since 09 octobre 2020 · until 31 mars 2021

Represented by David, Alexander Baron

Ended
Cowater Group Inc

Director · since 09 octobre 2020 · until 12 mai 2026

Represented by David, Alexander Baron

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates30/07/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates04/06/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Restructuring26/09/2023
    RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Mandates02/05/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates13/10/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates09/11/2021
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - DENOMINATION - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - ANNEE COMPTABLE
    PDF
  • Mandates14/09/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates03/02/2021
    DEMISSIONS, NOMINATIONS
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 2026
    Annual accounts 2026669,8 k €↓
  2. 2025
    Annual accounts 20251,3 M €↑
  3. 2024
    Annual accounts 20241 M €↓
  4. 2023
    Annual accounts 20231,1 M €↓
  5. 2022
    Annual accounts 20221,1 M €↑
  6. 2020
    Annual accounts 2020999,4 k €↓
  7. 2019
    Annual accounts 20191,1 M €↓
  8. 2018
    Annual accounts 20181,4 M €↑
  9. 2017
    Annual accounts 2017866 k €↑
  10. 2016
    Annual accounts 2016266 k €↓
  11. 2015
    Annual accounts 2015323,4 k €↓
  12. 2014
    Annual accounts 2014434,6 k €↑
  13. 2013
    Annual accounts 2013193,3 k €↑
  14. 2012
    Annual accounts 2012144,7 k €↓
  15. 2011
    Annual accounts 2011671,7 k €↓
  16. 2010
    Annual accounts 2010868,9 k €↑
  17. 2009
    Annual accounts 2009563,6 k €↓
  18. 2008
    Annual accounts 2008952,9 k €↑
  19. 2007
    Annual accounts 2007841,1 k €↑
  20. 2006
    Annual accounts 2006544 k €
  21. 29/12/1983
    IncorporationPublic limited company