Equity
€1.5m from €8.5m in 2006
Equity fell by 82% in 19 years.
COFIMBRA
Lifetime
20 annual accounts with figures on one time axis, 36 filings since 1990peak €405,731 (2022)
€57,283▼ 59.4%
lowest -€3.2m (2008)
-€206,343▲ €65,682
peak €8.5m (2006)
€1.5m▼ 12.1%
€3.2m▲ 3.7%
Board4 names since 2019
2 directorsFrancis Coppinger and 1 other
Owners
consolidatesSelmira SA
Documentsfilings and deeds
27-08-202627 days late
2025financial year
Gross margin from €140,925 to €57,283Loss of €206,3432 directors reappointed 29-12Resignation: Antonius FRILING (director) 25-03Equity from €1.7m to €1.5mCash from €34,991 to €6,753
Key points
from the 2025 annual accountsLosses
-€573,304 in four years
Every financial year from 2022 to 2025 closed with a loss. 2024 was the heaviest.
Securities
€2.8m
Mortgages, new in 2025. 1.8 times equity · not in the 2024 accounts.
Filings
36 annual accounts since 1990
Seven of the last ten came late. The 2024 accounts came latest: 61 days after the end of the period.
At the same address
101 companies
Position in the sector
-€206,343
Lower net result than 90% of companies in head offices and management consultancy. Sector median €53,814 · 3,872 companies.
Checked score
83
Excellent
Financially stronger than 14% of small companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 4,522 companies (NACE 70, small).
About 2 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 12-2024lowest value
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 06-2025
08-2025: 0.2%▲ +0.1 percentage points vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.3%▲ +0.1 percentage points vs 06-2026
08-2026: 0.4%▲ +0.1 percentage points vs 07-2026highest value
09-2026: 0.2%▼ -0.2 percentage points vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 0.48, cash €6,753, halved
Last filed accounts filed 27 days late; 1 of the last 3 accounts late
lowers risk
Size: total assets €4.7m
Founded in 1989
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 70, small). It does better than 32% of them on solvency, 6% on liquidity, 4% on profitability and 13% on growth.
The bankruptcy probability was computed on 08-11-2026 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 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, 8,617 companies had the same profile as COFIMBRA has now. Each dot stands for 22 companies, two years later.
94.2%
were still trading
5.2%
stopped another way
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of COFIMBRA itself: 0.2% 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 8,617 companies, not a prediction for COFIMBRA. 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 €120,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.48 (0.51 in 2024), below 1. Short-term debt is 67.4% and cash 0.1% of total assets. 67.8% 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
Six signals.
lowers riskraises risk
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€206,343
raises risk · 2025 accounts filed 27 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
27 days late
2024
61 days late
2023
21 days early
2022
24 days early
2021
50 days late
2020
10 days late
2019
3 days late
← 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 15 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% 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 27 August (4 of the last 5 accounts filed within 47 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
2 directors reappointed
Philippe Bracht (managing director) and Francis Coppinger · Permanent representative: Thierry Dekens · General meeting of 21-08-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0438067539
Resignation: Antonius FRILING (director)
Director discharge: Antonius FRILING · General meeting of 19-03-2025 · Gazette deed
3 directors reappointed
Philippe BRACHT (managing director), Francis COPPINGER and Antoine FRILING · General meeting of 28-05-2019 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| COFIMBRA Sint-Gillis (bij-Brussel) | €4.7m | €57,283 | 32.2% | - |
| DIRECT SOLUTIONS Brussels | €4.3m | €52,157 | 65.4% | - |
| FANMAR Oudenaarde | €4.9m | €58,775 | 41.1% | 0 |
| T.M.-Geybels Geel | €3.7m | €57,767 | 98.8% | 0.2 |
| VAN BROEKHOVEN - MERTENS Balen | €4.9m | €69,912 | 91.2% | - |
| P.V.H. Company Brussels | €6.3m | €66,427 | 89.9% | - |
| Cogefimo Auderghem | €3.8m | €40,786 | 97.1% | - |
These companies have the same main activity as COFIMBRA: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €3.7m and €6.3m, founded between 1983 and 1993.
Official details
Source: KBO- Status
- Active since 27-07-1989Normal situation
- Registered office
- 103 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Business and other management consultancyNACE 70200and 3 others
- Establishment unit
- 2.045.053.6711060 Sint-Gillis (bij-Brussel), since 05-10-1989
- Financial year end
- 31 December
- Peppol
- Reachable since 17-12-2025
Insights on COFIMBRA
COFIMBRA has existed since 1989. The gross margin fell from €182,155 in 2014 to €23,887 in 2015.
The gross margin has fallen every year since 2022.
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 COFIMBRA
- What is the company number of COFIMBRA?
- The company number of COFIMBRA is 0438.067.539. The VAT number is the same number with BE in front: BE 0438.067.539.
- Where is COFIMBRA based?
- The registered office is at Livornostraat 7, 1060 Sint-Gillis (bij-Brussel).Company details
- What does COFIMBRA do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of COFIMBRA?
- COFIMBRA is a public limited company (NV).
- When was COFIMBRA founded?
- COFIMBRA was founded on 27-07-1989.
- Is COFIMBRA still active?
- Yes, COFIMBRA is an active enterprise in the KBO register.
- What is the turnover of COFIMBRA?
- The turnover in financial year 2025 is ≈ €110,000. This figure is estimated from the gross margin of €57,283 and 65 comparable companies (NACE 70200). It probably lies between €82,000 and €170,000.Financials
- Is COFIMBRA profitable?
- In financial year 2025, COFIMBRA made a loss of €206,343.
- Where can I find the annual accounts of COFIMBRA?
- COFIMBRA filed 36 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of COFIMBRA due?
- COFIMBRA must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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