COWEN
0476.464.889 · rovalta.com · 24/09/2026
ACTIVE
COWEN
Financial year 2025 · closed on 31/12/2025
Net result
112,3 k €
+31.7% YoY
Gross margin
314,4 k €
+15.1% YoY
Equity
541,3 k €
+26.2% YoY
Workforce
6,1 ETP
Overview
What does COWEN do?
COWEN is a Private limited company incorporated in 2001. Its main activity is: Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores. Its registered office is in Heist-op-den-Berg. It employs on average 6,1 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0476.464.889
Incorporation
26/12/2001
Legal form
Private limited company
Registered office
Leopoldlei(HAL) 1
2220 Heist-op-den-Berg · FlandreSee on map
2220 Heist-op-den-Berg · FlandreSee on map
Contributed capital
6 202,30 €
Latest accounts
31/12/2025
Average workforce
6,1 ETP
Activities (NACE)
47241Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores· main47241Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores47242Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores47242Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores52240Cargo handling
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
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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 | |||||||||||||||||||||||||||||||||||||||
| Gross margin | 314,4 k € | +15.1% | 273,1 k € | +7.6% | 253,7 k € | +58.5% | 160,1 k € | -12.2% | 182,3 k € | +36.1% | 133,9 k € | -29.5% | 189,9 k € | -2.8% | 195,4 k € | +6.2% | 183,9 k € | +7.3% | 171,4 k € | -11.5% | 193,8 k € | +10.0% | 176,2 k € | +11.1% | 158,6 k € | -21.1% | 200,9 k € | +1093% | 16,8 k € | -13.7% | 19,5 k € | -42.6% | 34 k € | +44.8% | 23,5 k € | -6.7% | 25,2 k € | +5.9% | 23,8 k € |
| EBITDA | 181,5 k € | +22.1% | 148,6 k € | +5.1% | 141,4 k € | +152% | 56,1 k € | -21.8% | 71,7 k € | +53.5% | 46,7 k € | -21.3% | 59,4 k € | -14.8% | 69,7 k € | +56.1% | 44,6 k € | -10.2% | 49,7 k € | -34.0% | 75,3 k € | +7.2% | 70,2 k € | +60.9% | 43,7 k € | -34.9% | 67,1 k € | +441% | 12,4 k € | -33.3% | 18,6 k € | -37.0% | 29,5 k € | +41.9% | 20,8 k € | -15.4% | 24,6 k € | +6.7% | 23,1 k € |
| Operating result | 164 k € | +28.4% | 127,7 k € | +4.5% | 122,2 k € | +210% | 39,5 k € | -28.1% | 54,9 k € | +77.4% | 30,9 k € | -29.7% | 44 k € | +46.9% | 30 k € | +354% | 6,6 k € | -29.3% | 9,3 k € | -72.3% | 33,6 k € | -5.2% | 35,5 k € | +1366% | 2,4 k € | -90.8% | 26,3 k € | +344% | -10,8 k € | -2662% | -390,6 € | -104% | 10,7 k € | -43.2% | 18,8 k € | -17.1% | 22,7 k € | +45.6% | 15,6 k € |
| Net result | 112,3 k € | +31.7% | 85,3 k € | -7.7% | 92,4 k € | +223% | 28,6 k € | -24.9% | 38 k € | +119% | 17,3 k € | -45.0% | 31,5 k € | +59.6% | 19,7 k € | +2480% | 764,4 € | -62.4% | 2 k € | -89.5% | 19,4 k € | -12.7% | 22,2 k € | +484% | -5,8 k € | -135% | 16,6 k € | +202% | -16,3 k € | -169% | -6 k € | -179% | 7,6 k € | -36.6% | 12 k € | -18.4% | 14,8 k € | +95.2% | 7,6 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||||
| Equity | 541,3 k € | +26.2% | 429,1 k € | +24.8% | 343,8 k € | +36.7% | 251,5 k € | +12.8% | 222,9 k € | +20.6% | 184,9 k € | +10.3% | 167,6 k € | +23.1% | 136,1 k € | +16.9% | 116,4 k € | +0.7% | 115,6 k € | +1.8% | 113,6 k € | +20.6% | 94,2 k € | +30.8% | 72 k € | -7.4% | 77,8 k € | +27.2% | 61,2 k € | -21.0% | 77,4 k € | -7.2% | 83,5 k € | +10.1% | 75,8 k € | +18.9% | 63,8 k € | +30.1% | 49 k € |
| Total assets | 690,5 k € | +14.4% | 603,6 k € | +25.1% | 482,6 k € | +40.2% | 344,3 k € | +12.7% | 305,6 k € | -4.2% | 319,1 k € | +9.3% | 291,8 k € | +12.7% | 258,9 k € | +1.0% | 256,5 k € | +7.0% | 239,8 k € | +4.6% | 229,3 k € | -3.4% | 237,3 k € | -4.0% | 247,2 k € | -17.7% | 300,3 k € | +55.6% | 193 k € | +3.6% | 186,3 k € | -16.3% | 222,6 k € | +78.9% | 124,5 k € | +2.2% | 121,8 k € | -3.5% | 126,3 k € |
| Cash | 353,6 k € | +35.0% | 261,9 k € | +76.8% | 148,1 k € | +57.7% | 93,9 k € | +84.9% | 50,8 k € | -19.1% | 62,8 k € | +84.2% | 34,1 k € | -37.8% | 54,8 k € | -3.1% | 56,6 k € | +34.7% | 42 k € | +9.5% | 38,4 k € | -2.2% | 39,2 k € | -30.8% | 56,7 k € | +49.4% | 37,9 k € | +59.2% | 23,8 k € | +65.0% | 14,4 k € | -49.5% | 28,6 k € | -5.5% | 30,3 k € | +97.5% | 15,3 k € | +35.2% | 11,3 k € |
| Debts | 149,1 k € | -14.6% | 174,6 k € | +25.8% | 138,8 k € | +49.5% | 92,8 k € | +12.2% | 82,7 k € | -38.3% | 134,2 k € | +12.2% | 119,6 k € | -2.7% | 122,8 k € | -12.3% | 140,1 k € | +12.8% | 124,2 k € | +7.3% | 115,7 k € | -19.1% | 143,1 k € | -18.4% | 175,2 k € | -21.3% | 222,6 k € | +68.8% | 131,9 k € | +21.1% | 108,9 k € | -21.7% | 139,2 k € | +186% | 48,6 k € | -16.2% | 58 k € | -24.9% | 77,2 k € |
| Other | |||||||||||||||||||||||||||||||||||||||
| Workforce | 6,1 ETP | – | – | – | – | – | – | – | – | – | 5,0 ETP | +47.1% | 3,4 ETP | -39.3% | 5,6 ETP | +43.6% | 3,9 ETP | +95.0% | 2,0 ETP | – | – | – | – | – | |||||||||||||||
Estimate
Indicative valuation
As an indication, this company is worth
between 1 M€ and 2,5 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 1 active · 2 ended
Active mandates
WENDY BOEXSTAENS
ActiveEnded mandates
JOHNNY BOEXSTAENS
EndedWENDY BOEXSTAENS
EndedFinancials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Abridged model | Micro model | Micro model | Micro model | Micro model | Micro 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 | 29/08/2026 | 30/08/2025 | 30/09/2024 | 31/08/2023 | 31/08/2022 | 29/09/2021 |
| General meeting | 01/06/2026 | 31/05/2025 | 31/05/2024 | 31/05/2023 | 31/05/2022 | 31/05/2021 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
20 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Abridged model | 31/12/2025 | 01/06/2026 | 29/08/2026 | Dutch | |
| Micro model | 31/12/2024 | 31/05/2025 | 30/08/2025 | Dutch | |
| Micro model | 31/12/2023 | 31/05/2024 | 30/09/2024 | Dutch | |
| Micro model | 31/12/2022 | 31/05/2023 | 31/08/2023 | Dutch | |
| Micro model | 31/12/2021 | 31/05/2022 | 31/08/2022 | Dutch | |
| Micro model | 31/12/2020 | 31/05/2021 | 29/09/2021 | Dutch | |
| Micro model | 31/12/2019 | 01/10/2020 | 29/10/2020 | Dutch | |
| Micro model | 31/12/2018 | 31/05/2019 | 30/08/2019 | Dutch | |
| Micro model | 31/12/2017 | 31/05/2018 | 31/08/2018 | Dutch | |
| Micro model | 31/12/2016 | 31/05/2017 | 31/08/2017 | Dutch | |
| Abridged model | 31/12/2015 | 31/05/2016 | 29/08/2016 | Dutch | |
| Abridged model | 31/12/2014 | 01/06/2015 | 28/08/2015 | Dutch | |
| Abridged model | 31/12/2013 | 31/05/2014 | 26/08/2014 | Dutch | |
| Abridged model | 31/12/2012 | 31/05/2013 | 27/08/2013 | Dutch | |
| Abridged model | 31/12/2011 | 31/05/2012 | 27/08/2012 | Dutch | |
| Abridged model | 31/12/2010 | 31/05/2011 | 28/08/2011 | Dutch | |
| Abridged model | 31/12/2009 | 31/05/2010 | 27/08/2010 | Dutch | |
| Abridged model | 31/12/2008 | 01/06/2009 | 29/08/2009 | Dutch | |
| Abridged model | 31/12/2007 | 31/05/2008 | 02/07/2008 | Dutch | |
| Abridged model | 31/12/2006 | 31/05/2007 | 31/07/2007 | Dutch |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 1 M€ and 2,5 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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 1 active · 2 ended
Active mandates
WENDY BOEXSTAENS
ActiveEnded mandates
JOHNNY BOEXSTAENS
EndedWENDY BOEXSTAENS
EndedShareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Mandates17/01/2024WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025112,3 k €↑
- 2024Annual accounts 202485,3 k €↓
- 2023Annual accounts 202392,4 k €↑
- 2022Annual accounts 202228,6 k €↓
- 2021Annual accounts 202138 k €↑
- 2020Annual accounts 202017,3 k €↓
- 2019Annual accounts 201931,5 k €↑
- 2018Annual accounts 201819,7 k €↑
- 2017Annual accounts 2017764,4 €↓
- 2016Annual accounts 20162 k €↓
- 2015Annual accounts 201519,4 k €↓
- 2014Annual accounts 201422,2 k €↑
- 2013Annual accounts 2013-5,8 k €↓
- 2012Annual accounts 201216,6 k €↑
- 2011Annual accounts 2011-16,3 k €↓
- 2010Annual accounts 2010-6 k €↓
- 2009Annual accounts 20097,6 k €↓
- 2008Annual accounts 200812 k €↓
- 2007Annual accounts 200714,8 k €↑
- 2006Annual accounts 20067,6 k €
- 26/12/2001IncorporationPrivate limited company