Equity
€21.3m ▲ 31.6%
COEMAN PACKAGING has made a profit in every financial year since 2007.
COEMAN PACKAGING
Lifetime
20 annual accounts with figures on one time axis, 40 filings since 1986peak €39.4m (2023)
€27.1m▼ 6.5%
peak €6.4m (2024)
€5.1m▼ 14.0%
peak €27.1m (2022)
€21.3m▲ 31.6%
€3.9m▼ 52.2%
peak 33.5 FTE (2008)
17.2 FTE▼ 6.5%
Board18 names since 2018all names
7 directorsCOEMAN PHILIP and 6 others
Owners3 names in the annual accounts
consolidatesSCOTCHA
Documentsfilings and deeds
30-09-202631 days before the deadline
2026financial year
New managing director 23-01Equity from €16.2m to €21.3mDebts from €8.1m to €3.9mInvestments €160,742Cash from €746,476 to €1.1m
Key points
from the 2026 annual accountsStaff
17.2 FTE from 33.5 in 2008
Between 2008 and 2026, 49% of the full-time equivalents disappeared.
Liquidity
8.46 was 3.06 in 2025
Short-term debts fell from €6.7m to €2.5m.
Filings
40 annual accounts since 1986
The last five annual accounts were filed 31 to 133 days before the end of the period.
Board
1 left
A director left. Latest change 23-01-2026 · 7 in office.
Position in the sector
€5.1m
Higher net result than 90% of companies in wholesale trade. Sector median €105,287 · 436 companies.
Checked score
97
Excellent
Financially stronger than 79% of small companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 4,374 companies (NACE 46, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025lowest value
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026highest value
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
lowers risk
Founded in 1985
Profit of €5.1m (financial year 2026)
Equity €21.3m (84.6% of total assets)
Legal form: public limited company
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 46, small). It does better than 92% of them on solvency, 73% on liquidity, 96% on profitability and 57% 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 31-03-2026.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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, 20,137 companies had the same profile as COEMAN PACKAGING has now. Each dot stands for 51 companies, two years later.
95.1%
were still trading
4.7%
stopped another way
0.2%
went bankrupt
That fits the bankruptcy probability of COEMAN PACKAGING itself: 0.1% 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 20,137 companies, not a prediction for COEMAN PACKAGING. 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 €2,050,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 8.46 (3.06 in 2025), above the usual 1.5. Short-term debt is 10% and cash 4.2% of total assets. 15.4% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
6 signals, none raises the risk
Six signals.
lowers riskneutral
lowers risk · Growing equity
Reported equity is higher than in 2024 and did not fall compared with 2025. These amounts do not establish the cause of the change.
NBB · annual accounts 2026Equity per financial year
1920212223242526
2019 to 2026 · latest year €21.3m
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 30-09-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
31 days early
2025
35 days early
2024
36 days early
2023
33 days early
2022
133 days early
2021
41 days early
2020
32 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 49 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. The company usually files around 26 September (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-03-2027 year end31-10-2027 deadline
Board and ownership
and 2 others
- COEMAN TRADING 100%equity €6.3m (2026) · 31-03-2026 annual accounts of COEMAN TRADING
- SCOTCHA NV consolidatesannual accounts 31-03-2026
Shares in 1 company, COEMAN TRADING
Board & ownershipRecent changes
New managing director
Orthan & Cauchy BV appointed, Papadi BV resigned · Permanent representatives: Julie Eerdekens and Peter Le Roy · Director discharge: Papadi BV (managing director) · General meeting of 17-10-2025 · Gazette deed
1 director appointed, 2 resignations
Resignations: Atomic Consulting BV and Landerhof Invest CommV (managing director) · Permanent representatives: Peter Dennes, Julie Eerdekens and Philip Coeman · Appointment: Papadi BV (managing director) · General meeting of 15-10-2024 · Gazette deed
1 statutory auditor appointed
MOORE AUDIT (statutory auditor) · Permanent representatives: Geert VAN RYCKEGHEM, Jo VANDEPUTTE and Peter DENNES · General meeting of 02-09-2024 · Gazette deed
Appointment: Atomic Consulting BV (class D director)
Permanent representative: Peter Dennes · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| COEMAN PACKAGING Waregem | €27.1m | 22.5% | 84.6% | 17.2 |
| DEBRUYNE Ardooie | €27.5m | 14.1% | 60.2% | 21.4 |
| DARCOPACK Wevelgem | €30.4m | 3.2% | 59.1% | 19.5 |
| DECAPAC Herentals | €33.7m | 5.1% | 54.2% | 32 |
| Melitta België Lokeren | €24.6m | -0.1% | 64.5% | 20.8 |
| Castellins Wevelgem | €48.0m | 7.1% | 46.7% | 11.6 |
| IMERYS TALC BELGIUM Ghent | €28.2m | 9.9% | 63.6% | 37 |
Grey: the largest companies of the sector (wholesale trade (NACE 46)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as COEMAN PACKAGING: wholesale trade (NACE 46869). They are comparable in size and age: total assets between €14m and €35m, founded between 1968 and 1994.
Official details
Source: KBO- Status
- Active since 27-09-1985Normal situation
- Activity
- Wholesale tradeNACE 46869
- Joint committees
- 207White-collar workers in the chemical industry
- 116Chemical industry · annual accounts 31-03-2024
- Establishment unit
- 2.027.826.6698790 Waregem, since 27-09-1985
- Financial year end
- 31 March
- Peppol
- Reachable
Annual accounts to 31-03-2026
- €25.2m▲ 3.7%
- Employeeson 31-03-2026
- 17▼ 15.0%
- Filing
- Filed on 30-09-2026, 31 days before the end of the filing period
Insights on COEMAN PACKAGING
Turnover has fallen every year since 2023. Solvency rose in 2026 from 66.7% to 84.6% because of the retained profit and lower debts.
COEMAN TRADING holds all the shares. In January 2026, the Official Gazette published the appointment of ORTHAN & CAUCHY as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about COEMAN PACKAGING
- What is the company number of COEMAN PACKAGING?
- The company number of COEMAN PACKAGING is 0427.761.090. The VAT number is the same number with BE in front: BE 0427.761.090.
- Where is COEMAN PACKAGING based?
- The registered office is at Textielstraat 17, 8790 Waregem.Company details
- What does COEMAN PACKAGING do?
- According to the KBO register, the main activity is wholesale trade (NACE 46869).
- What is the legal form of COEMAN PACKAGING?
- COEMAN PACKAGING is a public limited company (NV).
- When was COEMAN PACKAGING founded?
- COEMAN PACKAGING was founded on 27-09-1985.
- Is COEMAN PACKAGING still active?
- Yes, COEMAN PACKAGING is an active enterprise in the KBO register.
- How many employees does COEMAN PACKAGING have?
- COEMAN PACKAGING had an average of 17.2 full-time equivalents in financial year 2026, according to the filed annual accounts.Financials
- Which joint committee does COEMAN PACKAGING fall under?
- In its 31-03-2024 annual accounts, COEMAN PACKAGING states joint committees 207 (White-collar workers in the chemical industry) and 116 (Chemical industry).
- What is the turnover of COEMAN PACKAGING?
- The turnover of COEMAN PACKAGING was €27.1m in financial year 2026, according to the filed annual accounts.
- Is COEMAN PACKAGING profitable?
- In financial year 2026, COEMAN PACKAGING made a profit of €5.1m.
- Where can I find the annual accounts of COEMAN PACKAGING?
- COEMAN PACKAGING filed 40 annual accounts with the National Bank of Belgium, the latest for financial year 2026.
- When are the next annual accounts of COEMAN PACKAGING due?
- COEMAN PACKAGING must file the annual accounts for financial year 2027 by 31-10-2027.Timeline
Next steps
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