Equity
€68,983 ▲ 21.2%
CIPPENS paid out €50,000 in dividends. That is 81% of the 2025 profit.
CIPPENS
Overview
Lifetime
4 annual accounts with figures on one time axispeak €142,095 (2025)
€142,095▲ 49.4%
peak €62,059 (2025)
€62,059▲ 144%
peak €68,983 (2025)
€68,983▲ 21.2%
€153,191▼ 4.5%
Board1 name since 2021
Documentsfilings and deeds
02-07-202629 days before the deadline
2025micro format
Gross margin from €95,139 to €142,095Result from €25,405 to €62,059Dividend €50,000Equity from €56,924 to €68,983Cash from €72,154 to €112,554
Key points
from the 2025 annual accountsTurnover
≈ €710,000 estimated
The micro format states no turnover.
Position in the sector
€62,059
Higher net result than 91% of companies in retail trade. Sector median €5,048 · 22,907 companies.
Checked score
70
Healthy
Financially stronger than 75% of micro companies in retail trade (NACE 47)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,275 companies (NACE 47, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.2%
01-2025: 1.2%● unchanged vs 12-2024
02-2025: 1.2%● unchanged vs 01-2025
03-2025: 1.2%● unchanged vs 02-2025
04-2025: 1.2%● unchanged vs 03-2025
05-2025: 1.3%▲ +0.1 percentage points vs 04-2025
06-2025: 1.1%▼ -0.2 percentage points vs 05-2025
07-2025: 0.6%▼ -0.5 percentage points vs 06-2025
08-2025: 0.6%● unchanged vs 07-2025
09-2025: 0.6%● unchanged vs 08-2025
10-2025: 0.6%● unchanged vs 09-2025
11-2025: 0.6%● unchanged vs 10-2025
12-2025: 0.6%● unchanged vs 11-2025
01-2026: 0.6%● unchanged vs 12-2025lowest value
02-2026: 0.9%▲ +0.3 percentage points vs 01-2026
03-2026: 1.0%▲ +0.1 percentage points vs 02-2026
04-2026: 1.3%▲ +0.3 percentage points vs 03-2026
05-2026: 1.6%▲ +0.3 percentage points vs 04-2026
06-2026: 1.6%● unchanged vs 05-2026
07-2026: 1.6%● unchanged vs 06-2026highest value
08-2026: 0.8%▼ -0.8 percentage points vs 07-2026
09-2026: 0.8%● unchanged vs 08-2026
10-2026: 0.8%● unchanged vs 09-2026
11-2026: 0.8%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
1 change of registered office in 24 months
Founded in 2021
lowers risk
Liquidity: current ratio 1.36, cash €112,554
Figures for financial year 2025 (filed on 02-07-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro). It does better than 47% of them on solvency, 86% on liquidity, 96% on profitability and 74% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 26,972 companies had the same profile as CIPPENS has now. Each dot stands for 68 companies, two years later.
94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CIPPENS itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,447 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 26,972 companies, not a prediction for CIPPENS. 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.
Credit verdict
Credit of up to €4,500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.36 (1.09 in 2024), below the usual 1.5. Short-term debt is 39% and cash 50.7% of total assets. 69% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
29 days early
2024
31 days early
2023
35 days early
2022
32 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 32 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 June (4 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- COPPENS John Michel Blanca Jozef Christiane Tony 99 sharesdeed of 07-10-2021
- VERMEULEN Kelly Paula Maurice 1 sharedeed of 07-10-2021
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0775330403
Registered office moved from Nieuwkerken-Waas to Sint-Niklaas
New registered office: Callaertstraat 22 bus A, 9100 Sint-Niklaas · Previous registered office: Meesterstraat 95, 9100 Nieuwkerken-Waas · Board meeting of 05-01-2026 · Gazette deed
Incorporation
Founding capital of €5,000, 100 shares · Founders: COPPENS John Michel Blanca Jozef Christiane Tony and VERMEULEN Kelly Paula Maurice · Appointment: COPPENS John Michel Blanca Jozef Christiane Tony (director) · published on 07-10-2021 · Gazette deed
First establishment
KIPLEKKER 2, Callaertstraat 22, Sint-Niklaas
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CIPPENS Sint-Niklaas | €222,173 | €142,095 | 31.0% | - |
| VISHANDEL VDW Kapelle-op-den-Bos | €225,860 | €127,819 | 28.5% | - |
| GROENTEN EN FRUIT PASCALE Pajottegem | €202,339 | €126,528 | 24.2% | - |
| L&L IMPACT Libramont-Chevigny | €244,163 | €130,530 | 40.5% | - |
| De Broodstokerij Ghent | €269,682 | €124,064 | 7.1% | - |
| De Verscentrale Kluisbergen | €240,067 | €161,713 | 11.2% | - |
| ÖZLEMM Genk | €246,352 | €114,242 | 33.1% | - |
These companies have the same main activity as CIPPENS: retail sale of fruit and vegetables (NACE 47210). They are comparable in size and age: total assets between €202,000 and €270,000, founded between 2020 and 2023.
Official details
Source: KBO- Status
- Active since 05-10-2021Normal situation
- Activity
- Retail sale of fruit and vegetablesNACE 47210and 3 others
- Establishment unit
- 2.322.980.2499100 Sint-Niklaas, since 05-10-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- €142,095▲ 49.4%
- €62,059▲ 144%
- €68,983▲ 21.2%
- €222,173▲ 2.2%
- Employeeson 31-12-2025
- 1=
- Filing
- Filed on 02-07-2026, 29 days before the end of the filing period
Insights on CIPPENS
CIPPENS files the micro format. That format states no turnover. The gross margin rose from €62,790 in 2022 to €142,095 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 02-07-2026, 29 days before the deadline€142,095
▲ 49.4%
€84,665
▲ 120%
€62,059
▲ 144%
€30,950
▲ 406%
31.0%
▲ 4.9 percentage points
1.36
▲ 0.27
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €710,000. Estimated: probably between €460,000 and €1.2m.
Balance sheet
balance sheet total €222,173 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
31.0%
Higher than 48% of 22,924 companies in 2025.
1.36
Higher than 47% of 22,052 companies in 2025.
27.9%
Higher than 90% of 22,202 companies in 2025.
CIPPENS
Middle half of the sector
80% of the sector
Micro accounts in retail trade (NACE 47)
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff
€21,151
Staff costs divided by the average number of full-time equivalents.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
222,173 | 217,287 | 221,825 | 224,441 | |
21/28 |
104,490 | 139,665 | 174,841 | 199,611 | |
21 |
36,766 | 49,094 | 61,422 | 73,749 | |
22/27 |
66,340 | 89,188 | 112,035 | 124,477 | |
23 |
16,716 | 22,493 | 28,270 | 34,046 | |
24 |
49,624 | 66,695 | 83,765 | 90,431 | |
28 |
1,384 | 1,384 | 1,384 | 1,384 | |
29/58 |
117,683 | 77,622 | 46,984 | 24,830 | |
3 |
3,927 | 4,071 | 2,551 | 3,323 | |
30/36 |
3,927 | 4,071 | 2,551 | 3,323 | |
40/41 |
1,053 | 826 | 101 | 2,388 | |
41 |
1,053 | 826 | 101 | 2,388 | |
54/58 |
112,554 | 72,154 | 44,313 | 19,120 | |
490/1 |
149 | 570 | 19 | - | |
| Balance sheet: equity and liabilities | |||||
10/49 |
222,173 | 217,287 | 221,825 | 224,441 | |
10/15 |
68,983 | 56,924 | 31,519 | 10,496 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | |
13 |
60,000 | 50,000 | 25,000 | 5,000 | |
133 |
60,000 | 50,000 | 25,000 | 5,000 | |
14 |
3,983 | 1,924 | 1,519 | 496 | |
17/49 |
153,191 | 160,363 | 190,306 | 213,945 | |
17 |
64,418 | 88,858 | 112,882 | 136,497 | |
170/4 |
64,418 | 88,858 | 112,882 | 136,497 | |
42/48 |
86,733 | 71,505 | 77,424 | 77,203 | |
42 |
24,440 | 24,024 | 23,615 | 23,212 | |
44 |
720 | 10,436 | 8,030 | 10,697 | |
440/4 |
720 | 10,436 | 8,030 | 10,697 | |
45 |
2,791 | 9,466 | 7,554 | 2,766 | |
450/3 |
2,615 | 8,155 | 7,554 | 1,799 | |
454/9 |
176 | 1,311 | - | 968 | |
47/48 |
58,782 | 27,580 | 38,225 | 40,528 | |
492/3 |
2,040 | - | - | 245 | |
| Income statement | |||||
9900 |
142,095 | 95,139 | 87,475 | 62,790 | |
62 |
21,151 | 20,231 | 19,351 | 14,818 | |
630 |
35,175 | 35,175 | 34,450 | 32,255 | |
640/8 |
1,104 | 1,185 | 433 | 1,023 | |
9901 |
84,665 | 38,547 | 33,240 | 14,694 | |
75/76B |
439 | 328 | - | 0 | |
75 |
439 | 328 | - | 0 | |
65/66B |
6,966 | 6,664 | 6,594 | 7,979 | |
65 |
6,966 | 6,664 | 6,594 | 7,979 | |
9903 |
78,138 | 32,212 | 26,646 | 6,715 | |
67/77 |
16,079 | 6,807 | 5,624 | 1,218 | |
9904 |
62,059 | 25,405 | 21,022 | 5,496 | |
9905 |
62,059 | 25,405 | 21,022 | 5,496 | |
| Appropriation of the result | |||||
9906 |
63,983 | 26,924 | 21,519 | 5,496 | |
14P |
1,924 | 1,519 | 496 | - | |
791/2 |
50,000 | - | - | - | |
691/2 |
60,000 | 25,000 | 20,000 | 5,000 | |
6921 |
60,000 | 25,000 | 20,000 | 5,000 | |
694/7 |
50,000 | - | - | - | |
694 |
50,000 | - | - | - | |
| Social balance sheet | |||||
9087 |
1 | 1 | 1 | - | |
Hours worked1013 |
806 | 815 | 824 | - | |
| Document | |||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 02-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 119,840 | 73,723 | 67,691 | 46,949 | ||
| 97,234 | 60,580 | 55,473 | 37,752 | ||
| 0 | 0 | 9,680 | 231,866 | ||
| 40,399 | 27,842 | 25,193 | - | ||
| 30,950 | 6,117 | -30,440 | -52,373 | ||
| 31.0% | 26.2% | 14.2% | 4.7% | ||
| 1.36 | 1.09 | 0.61 | 0.32 | ||
| 1.31 | 1.03 | 0.57 | 0.28 | ||
| 2.22 | 2.82 | 6.04 | 20.38 | ||
| 90.0% | 44.6% | 66.7% | 52.4% | ||
| 27.9% | 11.7% | 9.5% | 2.4% | ||
| 17.20 | 11.06 | 10.27 | 5.88 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| part-time | 1 | 1 | 1 |
| in full-time equivalents | 0.5 | 0.5 | 0.5 |
| 0.5 | 0.5 | 0.5 | |
| On a permanent contract | 1 | 1 | 1 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €9,680 | €144,557 |
| Intangible fixed assets | - | - | - | €85,925 |
| Financial fixed assets | - | - | - | €1,384 |
| €35,175 | €35,175 | €34,450 | €32,255 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on CIPPENS
The operating result for 2025 is 120% higher than in 2024 and the highest since 2022. It is the third rise in a row.
Debt's share of the balance-sheet total falls from 73.8% to 69.0%. Equity is higher and debt is lower.
Board & ownership
Board
1 director, since incorporationDirector
appointed by deed of 07-10-2021
term without a fixed end
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 07-10-2021
Mandates through the years
1 name, the dashed line is todayBoard
Mandates as a list
- COPPENS John Michel Blanca Jozef Christiane Tony
- Director, appointed by deed of 07-10-2021, still in office
Control
Founders
COPPENS John Michel Blanca Jozef Christiane Tony, VERMEULEN Kelly Paula Maurice
This company
CIPPENS
Equity €68,983
Profit €62,059 in 2025
Capital
- Contribution
- €5,000
- Shares
- 100
- Contribution per share
- €50
- Equity per share
- €690 in 2025
- Source
- deed of 07-10-2021
Articles of association
deed of 07-10-2021 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Algemene vergadering die bestuurder(s)benoemt bepaalt hun aantal,duur van opdracht en,indien meerdere,bevoegdheid, benoemd met of zonder…”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Alle procedure- en expertisekosten voor helft ten laste van overdrager en helft ten laste van koper(s),naar evenredigheid van verworven…”
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Friday of June at 12:00
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Shareholders
At incorporation
deed of 07-10-2021 ↗
- COPPENS John Michel Blanca Jozef Christiane Tony 99 shares (99%) · €4,950
- VERMEULEN Kelly Paula Maurice 1 share (1%) · €50
Network & group
No group
CIPPENS has no parent and no holdings in its annual accounts. COPPENS John Michel Blanca Jozef Christiane Tony is the only director. CIPPENS shares no director with another company.
Timeline
Timeline
9 events since 2021Filings
Financial
Establishments
Address
202220242026
Deadline for the 2026 accounts: 31-07-2027
2026
Registered in the Peppol Directory Reachable for e-invoices through 0208:0775330403
Annual accounts 2025 filed NBBmicro format · 29 days before the deadline
Registered office moved from Nieuwkerken-Waas to Sint-NiklaasNew registered office: Callaertstraat 22 bus A, 9100 Sint-Niklaas · Previous registered office: Meesterstraat 95, 9100 Nieuwkerken-Waas · Board meeting of 05-01-20262 points ▸
- Board meeting, 05-01-2026
- Registered-office move, Callaertstraat 22 bus A, 9100 Sint-Niklaas
2025
Highest result from 2022 to 2025 net €62,059 ▲144% The operating result of €84,665 and the net result of €62,059 are both a record.
Annual accounts 2024 filed PDFmicro format · 31 days before the deadline
2024
Annual accounts 2023 filed PDFmicro format · 35 days before the deadline
2023
Annual accounts 2022 filed PDFmicro format · 32 days before the deadline
2021
IncorporationFounding capital of €5,000, 100 shares · Founders: COPPENS John Michel Blanca Jozef Christiane Tony and VERMEULEN Kelly Paula Maurice · Appointment: COPPENS John Michel Blanca Jozef Christiane Tony (director) · published on 07-10-20217 points ▸
- Founder, COPPENS John Michel Blanca Jozef Christiane Tony
- Founder, VERMEULEN Kelly Paula Maurice
- Founding capital, €5,000, 100 shares
- 100 shares
- Registered office clause, Meesterstraat 95, 9100 Sint-Niklaas (Nieuwkerken-Waas)
- Director appointment, COPPENS John Michel Blanca Jozef Christiane Tony
- Board rule, 1
- The deed holds 2 more points.
First establishment KIPLEKKER 2, Callaertstraat 22, Sint-Niklaas
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
On 5 October 2021, CIPPENS was incorporated as a private limited company by two natural persons, with a starting capital of €5,000.12 In 2026 the registered office moved to Sint-Niklaas.3 COPPENS John Michel Blanca Jozef Christiane Tony is director of the company, appointed by deed of 07-10-2021.2 Total assets went from €224,441 in 2022 to €222,173 in 2025 and headcount from 1 full-time equivalents in 2023 to 1 in 2025.4
Company details
Identity
- Enterprise number
- 0775.330.403
- VAT number
- BE 0775.330.403
- Peppol ID
- 0208:0775330403
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 05-10-2021
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Friday of June at 12:00deed of 07-10-2021 (in Dutch)
- Peppol
- Reachable since 21-10-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- CIPPENS in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 07-10-2021 (in Dutch)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”deed of 07-10-2021 (in Dutch)
Activities
NACEBEL 2025VAT activities
47210
Retail sale of fruit and vegetables main activity
47222
Retail trade
Social security (RSZ) activities
56112
Limited-service restaurants, excluding mobile food services main activity
Codes under NACEBEL 2008
VAT activities
47810
Retail trade main activity
47222
Retail trade
47890
Retail trade
Social security (RSZ) activities
56102
Limited-service restaurants main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Markt- en straathandel in voedings- en genotmiddelen; Markt- en straathandel in voedingsmiddelen; Markt- en straathandel in andere…”deed of 07-10-2021 (in Dutch)
8 activities
- Markt- en straathandel in voedings- en genotmiddelen;
- Markt- en straathandel in voedingsmiddelen;
- Markt- en straathandel in andere artikelen;
- Kleinhandel in allerlei prod.op een wijze die niet is begrepen in voorgaande klassen : huis-aan-huis-verkoop,verkoopautomaten,demonstratieverkoop,ambulante handel,enz.
- Detailhandel in vlees van wild en van gevogelte in gespecialiseerde winkels;
- Detailhandel in vlees en vleesproducten in gespecialiseerde winkels,m.u.v.vlees van wild en van gevogelte;
- Activiteiten van traiteur en catering;
- Activiteiten van foodtrucks;
Registered office and establishments
1 establishment| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| KIPLEKKER 2 registered office Callaertstraat 22, 9100 Sint-Niklaas 47221 Retail sale of meat and meat products, excluding game and poultry | 05-10-2021 | 2.322.980.249 | Itinerant butcher's shop |
1 former office
- Meesterstraat 95, 9100 Nieuwkerken-Waas until 05-01-2026 · deed of 21-01-2026
Recognitions
Food safety, FASFC
1 siteSint-Niklaasunit number 2.322.980.249