CANTINE COPINE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 18-09-2025 PDF all 16 filings
Turnover
≈ €690,000
Estimated: probably between €580,000 and €840,000
Total assets
€579,179▼ 7.7%
2024 · €627,724
Net result
€31▼ 92.9%
2024 · €437
Working capital
-€16,895
2024 · €17,060
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€12,207
▲ 0.3%
2025
20192025
Net result
€31
▼ 92.9%
2025
middle half of the sector
20192025
Equity
€138,999
=
2025
highest quarter of the sector
20192025
Total assets
€579,179
▼ 7.7%
2025
highest quarter of the sector
20192025
Debt
€440,181
▼ 9.9%
2025
20192025
Working capital
-€16,895
2025
middle half of the sector
20192025
Solvency
24.0%
▲ 1.9pp
2025
middle half of the sector
20192025
Current ratio
0.89
▼ 0.24
2025
middle half of the sector
20192025
Return on assets (ROA)
0.0%
▼ 0.1pp
2025
middle half of the sector
20192025
Staff (FTE)
2.7
▼ 6.9%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€30,510-€19,493▼ 36.1%€33,942▲ 74.1%€124,570▲ 267%€57,696▼ 53.7%€12,166▼ 78.9%€12,207▲ 0.3%
Net result€13,111-€1,925within the sector's middle half▼ 85.3%€17,771within the sector's middle half▲ 823%€99,506above the sector's middle half▲ 460%€38,170above the sector's middle half▼ 61.6%€437within the sector's middle half▼ 98.9%€31within the sector's middle half▼ 92.9%
Equity€51,159-€53,083within the sector's middle half▲ 3.8%€70,855within the sector's middle half▲ 33.5%€130,360above the sector's middle half▲ 84.0%€138,531above the sector's middle half▲ 6.3%€138,968above the sector's middle half▲ 0.3%€138,999above the sector's middle half=
Total assets€640,620-€644,213above the sector's middle half▲ 0.6%€671,245above the sector's middle half▲ 4.2%€730,185above the sector's middle half▲ 8.8%€696,509above the sector's middle half▼ 4.6%€627,724above the sector's middle half▼ 9.9%€579,179above the sector's middle half▼ 7.7%
Debt€589,461-€591,130▲ 0.3%€600,390▲ 1.6%€599,825▼ 0.1%€557,978▼ 7.0%€488,756▼ 12.4%€440,181▼ 9.9%
Working capital-€42,857-€25,686within the sector's middle half€7,576within the sector's middle half▼ 70.5%€44,381above the sector's middle half▲ 486%€48,393above the sector's middle half▲ 9.0%€17,060within the sector's middle half▼ 64.7%-€16,895within the sector's middle half
Solvency8.0%-8.2%within the sector's middle half▲ 0.3pp10.6%within the sector's middle half▲ 2.3pp17.9%within the sector's middle half▲ 7.3pp19.9%within the sector's middle half▲ 2.0pp22.1%within the sector's middle half▲ 2.2pp24.0%within the sector's middle half▲ 1.9pp
Current ratio0.54-1.37within the sector's middle half▲ 0.831.06within the sector's middle half▼ 0.321.30within the sector's middle half▲ 0.241.39within the sector's middle half▲ 0.091.13within the sector's middle half▼ 0.260.89within the sector's middle half▼ 0.24
Return on assets (ROA)2.0%-0.3%within the sector's middle half▼ 1.7pp2.6%within the sector's middle half▲ 2.3pp13.6%within the sector's middle half▲ 11.0pp5.5%within the sector's middle half▼ 8.1pp0.1%within the sector's middle half▼ 5.4pp0.0%within the sector's middle half▼ 0.1pp
Staff (FTE)3.2-3.2within the sector's middle half=3▼ 6.3%3.3▲ 10.0%3.4▲ 3.0%2.9▼ 14.7%2.7▼ 6.9%
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 0% higher than in 2024. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €579,179
Fixed assets
€442,698 ▼ 7.0%
Current assets
€136,481 ▼ 10.0%
Equity and liabilities €579,179
Equity
€138,999 =
Debt
€440,181 ▼ 9.9%
Debt's share of the balance-sheet total falls from 77.9% to 76.0%. Debt is lower.
Key figures and ratios
EBITDA
€66,291▲
2024 · €65,636
Cash flow
€54,115▲
2024 · €53,906
Quick ratio
0.73▼
2024 · 0.92
Debt to equity
3.17▼
2024 · 3.52
ROE
0.0%▼
2024 · 0.3%
Interest coverage
3.84▼
2024 · 4.38
Debt ≤ 1 year
€153,376▲
2024 · €134,631
Debt > 1 year
€281,040▼
2024 · €345,544
Income taxes
€201▼
2024 · €657
Staff costs
€167,460▼
2024 · €172,446
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 2 | 2 |
| full-time | 3 | 3 | 2 | 2 |
| part-time | - | 0 | 0 | 0 |
| in full-time equivalents | 3 | 3 | 2 | 2 |
| Average over the year, in full-time equivalents | 3.3 | 3.4 | 2.9 | 2.7 |
| On a permanent contract | 3 | 3 | 2 | 2 |
| Joined | 10 | 11 | 11 | 10 |
| Left | 10 | 11 | 13 | 10 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Mortgages, amount registered | €570,320 | €570,320 | €570,320 | - |
| Carrying value of the mortgaged assets | €511,327 | €470,205 | €435,210 | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €52,197 | €37,503 | €7,097 | €20,750 |
| Financial fixed assets | - | €275 | - | - |
| Depreciation and write-downs of the year | €44,483 | €51,969 | €53,469 | €54,084 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €1,000 awarded · €1,000 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €144,140 | €161,728 | €172,446 | €167,460 | ▼ 2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €57,479 | €50,525 | €41,052 | €44,483 | €51,969 | €53,469 | €54,084 | ▲ 1.2% |
| Other operating charges640/8 | - | - | - | €2,536 | €3,551 | €3,814 | €3,660 | ▼ 4.0% |
| Gross operating margin9900 | €210,189 | €160,573 | €125,034 | €315,729 | €274,943 | €241,896 | €237,411 | ▼ 1.9% |
| Operating profit (loss)9901 | €30,510 | €19,493 | €33,942 | €124,570 | €57,696 | €12,166 | €12,207 | ▲ 0.3% |
| Financial income75/76B | - | - | - | €275 | €263 | €3,913 | €5,289 | ▲ 35.2% |
| Recurring financial income75 | €79 | €70 | €78 | €275 | €263 | €3,913 | €5,289 | ▲ 35.2% |
| Financial charges65/66B | - | - | - | €16,664 | €16,584 | €14,985 | €17,264 | ▲ 15.2% |
| Recurring financial charges65 | €17,478 | €17,638 | €16,249 | €16,664 | €16,584 | €14,985 | €17,264 | ▲ 15.2% |
| Profit (loss) for the period before taxes9903 | €13,111 | €1,925 | €17,771 | €108,181 | €41,375 | €1,094 | €232 | ▼ 78.8% |
| Income taxes67/77 | - | - | - | €8,675 | €3,205 | €657 | €201 | ▼ 69.3% |
| Profit (loss) for the period9904 | €13,111 | €1,925 | €17,771 | €99,506 | €38,170 | €437 | €31 | ▼ 92.9% |
| Profit (loss) for the period to be appropriated9905 | €13,111 | €1,925 | €17,771 | €99,506 | €38,170 | €437 | €31 | ▼ 92.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €640,620 | €644,213 | €671,245 | €730,185 | €696,509 | €627,724 | €579,179 | ▼ 7.7% |
| Fixed assets21/28 | €590,065 | €549,540 | €529,470 | €537,184 | €522,993 | €476,032 | €442,698 | ▼ 7.0% |
| Tangible fixed assets22/27 | €588,565 | €548,040 | €527,970 | €535,684 | €521,218 | €474,257 | €440,923 | ▼ 7.0% |
| Land and buildings22 | - | - | - | €250,565 | €233,565 | €216,565 | €199,565 | ▼ 7.8% |
| Plant, machinery and equipment23 | - | - | - | €264,337 | €240,724 | €222,132 | €211,465 | ▼ 4.8% |
| Furniture and vehicles24 | - | - | - | €4,271 | €35,678 | €29,569 | €21,240 | ▼ 28.2% |
| Leasing and similar rights25 | - | - | - | €16,511 | €11,251 | €5,991 | €8,652 | ▲ 44.4% |
| Financial fixed assets28 | €1,500 | €1,500 | €1,500 | €1,500 | €1,775 | €1,775 | €1,775 | = |
| Current assets29/58 | €50,555 | €94,673 | €141,775 | €193,001 | €173,516 | €151,691 | €136,481 | ▼ 10.0% |
| Amounts receivable after more than one year29 | - | - | - | €100,353 | €77,939 | €86,055 | €90,590 | ▲ 5.3% |
| Other amounts receivable291 | - | - | - | €100,353 | €77,939 | €86,055 | €90,590 | ▲ 5.3% |
| Stocks and contracts in progress3 | €21,814 | €17,786 | €21,956 | €29,337 | €31,852 | €27,383 | €23,870 | ▼ 12.8% |
| Stocks30/36 | - | - | - | €29,337 | €31,852 | €27,383 | €23,870 | ▼ 12.8% |
| Amounts receivable within one year40/41 | €15,039 | €9,135 | €2,201 | €3,740 | €1,949 | €8,685 | €13,049 | ▲ 50.2% |
| Trade receivables40 | - | - | - | - | - | - | €8,562 | - |
| Other amounts receivable41 | - | - | - | €3,740 | €1,949 | €8,685 | €4,487 | ▼ 48.3% |
| Cash at bank and in hand54/58 | €12,934 | €16,810 | €37,772 | €57,259 | €58,517 | €24,926 | €5,881 | ▼ 76.4% |
| Deferred charges and accrued income490/1 | - | - | - | €2,312 | €3,259 | €4,643 | €3,093 | ▼ 33.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €640,620 | €644,213 | €671,245 | €730,185 | €696,509 | €627,724 | €579,179 | ▼ 7.7% |
| Equity10/15 | €51,159 | €53,083 | €70,855 | €130,360 | €138,531 | €138,968 | €138,999 | = |
| Contributions10/11 | €18,972 | - | - | €18,972 | €18,972 | €18,972 | €18,972 | = |
| Reserves13 | €56,328 | €34,111 | €51,883 | €111,388 | €119,559 | €119,996 | €120,027 | = |
| Non-distributable reserves130/1 | - | - | - | €1,897 | €1,897 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,897 | €0 | - | - |
| Other1319 | - | - | - | €1,897 | - | - | - | - |
| Distributable reserves133 | - | - | - | €109,491 | €117,661 | €119,996 | €120,027 | = |
| Profit (loss) carried forward14 | -€24,141 | - | - | - | €0 | €0 | - | - |
| Amounts payable17/49 | €589,461 | €591,130 | €600,390 | €599,825 | €557,978 | €488,756 | €440,181 | ▼ 9.9% |
| Amounts payable after more than one year17 | €479,679 | €507,587 | €453,451 | €440,280 | €422,510 | €345,544 | €281,040 | ▼ 18.7% |
| Financial debts170/4 | - | - | - | €440,280 | €422,510 | €345,544 | €281,040 | ▼ 18.7% |
| Amounts payable within one year42/48 | €93,412 | €68,987 | €134,199 | €148,620 | €125,123 | €134,631 | €153,376 | ▲ 13.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €59,829 | €76,960 | €76,966 | €83,751 | ▲ 8.8% |
| Financial debts43 | - | - | - | €39,199 | €0 | €4,167 | €8,938 | ▲ 115% |
| Credit institutions430/8 | - | - | - | €39,199 | €0 | €4,167 | €8,938 | ▲ 115% |
| Trade debts44 | €19,969 | €7,536 | €21,474 | €3,342 | €3,771 | €42,653 | €42,996 | ▲ 0.8% |
| Suppliers440/4 | - | - | - | €3,342 | €3,771 | €42,653 | €42,996 | ▲ 0.8% |
| Advances received on contracts in progress46 | - | - | - | - | €1,355 | €11 | €2,199 | ▲ 209× |
| Taxes, remuneration and social security45 | - | - | - | €6,250 | €13,037 | €10,835 | €15,492 | ▲ 43.0% |
| Taxes450/3 | - | - | - | €1,852 | €6,534 | €5,565 | €10,556 | ▲ 89.7% |
| Remuneration and social security454/9 | - | - | - | €4,398 | €6,504 | €5,270 | €4,936 | ▼ 6.3% |
| Other amounts payable47/48 | - | - | - | €40,000 | €30,000 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €10,925 | €10,345 | €8,581 | €5,765 | ▼ 32.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,111 | €1,925 | €17,771 | €99,506 | €38,170 | €437 | €31 | ▼ 92.9% |
| + Depreciation and write-downs630 | €57,479 | €50,525 | €41,052 | €44,483 | €51,969 | €53,469 | €54,084 | ▲ 1.2% |
| Operating cash flow (approximation) | €70,590 | €52,450 | €58,823 | €143,989 | €90,139 | €53,906 | €54,115 | ▲ 0.4% |
| Investment in fixed assets (approximation) | - | -€10,000 | -€20,982 | -€52,197 | -€37,778 | -€6,509 | -€20,750 | ▼ 219% |
| Change in cash | - | €3,876 | €20,962 | €19,487 | €1,258 | -€33,591 | -€19,045 | ▲ 43.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 4,508 companies had the same profile as CANTINE COPINE has now. Two years later, 96.9% were still going and 1.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.9%
was still going
1.6%
stopped otherwise
1.4%
went bankrupt
That fits the bankruptcy probability of CANTINE COPINE itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,508 companies, not a prediction for CANTINE COPINE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 18-09-2025 | 2025-00494258 | |
| 30-06-2024 | micro format | 28-01-2025 | 2025-00013942 | |
| 30-06-2023 | micro format | 31-01-2024 | 2024-00020009 | |
| 30-06-2022 | micro format | 07-02-2023 | 2023-00024172 | |
| 30-06-2021 | micro format | 27-01-2022 | 2022-02200322 | |
| 30-06-2020 | micro format | 01-02-2021 | 2021-04200350 | |
| 30-06-2019 | micro format | 28-02-2020 | 2020-05900481 | |
| 30-06-2018 | micro format | 17-12-2018 | 2018-74700274 | |
| 30-06-2017 | micro format | 27-12-2017 | 2017-73400175 | |
| 30-06-2016 | abbreviated format | 06-12-2016 | 2016-69500258 |