COFYNA
ActiveSummary
COFYNA has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€475,292) and a net result of €60,834. Equity remains stable across the filed fiscal years (±0.8% per year). Its solvency ranks better than 10% of 2213 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability38▲+2
Solvency23=
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.98 against 0.98 in 2024; short-term debt: 102% and cash: 0.2% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-2%
Return on assets
0.3%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 2213 sector peers (2025).
NBB · sector comparisonPosition among 2213 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-12-2025, 39 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
39 d early
2024
14 d early
2022
21 d early
2021
31 d late
2020
4 d early
2019
81 d late
2018
30 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 9 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€475,292▲ 11.3%
2024 · -€536,126
Total assets
€23.5m▲ 2.2%
2024 · €23.0m
Net result
€60,834
2024 · -€129,916
Working capital
-€540,133▼ 0.6%
2024 · -€536,945
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220242025
Operating result€116,865-€254,668€116,132-€54,641-€74,975
Net result€193,820▲ 1,842%-€243,143€118,984-€129,916-€60,834
Equity-€282,051▲ 40.7%-€525,194▼ 86.2%-€406,210▲ 22.7%-€536,126--€475,292▲ 11.3%
Total assets€23.4m▲ 19.7%€24.1m▲ 3.2%€23.8m▼ 1.3%€23.0m-€23.5m▲ 2.2%
Debt€23.7m▲ 18.3%€24.6m▲ 4.2%€24.2m▼ 1.8%€23.6m-€24.0m▲ 1.9%
Working capital€2.0m▲ 3.0%€1.8m▼ 11.5%€1.3m▼ 29.5%-€536,945--€540,133▼ 0.6%
Staff (FTE)0-0
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €74,975 after a loss of €54,641 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €23.5m
Fixed assets
€65,004 ▲ 4,900%
Current assets
€23.5m ▲ 1.9%
Key figures and ratios
Solvency
-2.0%▲
2024 · -2.3%
Current ratio
0.98=
2024 · 0.98
Quick ratio
0.02▲
2024 · 0.01
Debt to equity
-50.52▼
2024 · -43.96
ROA
0.3%▲
2024 · -0.6%
Debt ≤ 1 year
€24.0m▲
2024 · €23.6m
Income taxes
€3,929
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 132 companies that looked in July 2024 the way this one looks now, 0% went bankrupt within 24 months and 95% are still going.
- Medium-sized
- negative equity
- a profit under 5% of the balance sheet
- without age
0%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 132 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | - | - | €6,804 | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €291,491 | €0 | -€4,957 | €0 | ▲ 100% |
| Other operating charges640/8 | - | €10,049 | €1,140 | €3,548 | €1,273 | ▼ 64.1% |
| Non-recurring operating charges66A | - | - | - | €206,400 | €0 | ▼ 100% |
| Gross operating margin9900 | €117,965 | €46,872 | €117,272 | €150,349 | €76,249 | ▼ 49.3% |
| Operating profit (loss)9901 | €116,865 | -€254,668 | €116,132 | -€54,641 | €74,975 | ▲ 237% |
| Financial income75/76B | - | €13,783 | €6,006 | €9,498 | €1,330 | ▼ 86.0% |
| Recurring financial income75 | €79,195 | €13,783 | €6,006 | €9,498 | €1,330 | ▼ 86.0% |
| Financial charges65/66B | - | €2,257 | €3,154 | €84,773 | €11,542 | ▼ 86.4% |
| Recurring financial charges65 | €2,240 | €2,257 | €3,154 | €84,773 | €11,542 | ▼ 86.4% |
| Profit (loss) for the period before taxes9903 | €193,820 | -€243,143 | €118,984 | -€129,916 | €64,763 | ▲ 150% |
| Income taxes67/77 | - | - | - | - | €3,929 | - |
| Profit (loss) for the period9904 | €193,820 | -€243,143 | €118,984 | -€129,916 | €60,834 | ▲ 147% |
| Profit (loss) for the period to be appropriated9905 | €193,820 | -€243,143 | €118,984 | -€129,916 | €60,834 | ▲ 147% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €23.4m | €24.1m | €23.8m | €23.0m | €23.5m | ▲ 2.2% |
| Fixed assets21/28 | €2,259 | €2,259 | €2,259 | €1,300 | €65,004 | ▲ 4,900% |
| Financial fixed assets28 | €2,259 | €2,259 | €2,259 | €1,300 | €65,004 | ▲ 4,900% |
| Current assets29/58 | €23.4m | €24.1m | €23.8m | €23.0m | €23.5m | ▲ 1.9% |
| Amounts receivable after more than one year29 | - | €417,988 | €417,988 | €0 | - | - |
| Other amounts receivable291 | - | €417,988 | €417,988 | €0 | - | - |
| Stocks and contracts in progress3 | €20.6m | €22.1m | €22.4m | €22.7m | €23.0m | ▲ 1.1% |
| Contracts in progress37 | - | €22.1m | €22.4m | €22.7m | €23.0m | ▲ 1.1% |
| Amounts receivable within one year40/41 | €1.8m | €1.5m | €845,884 | €206,004 | €219,010 | ▲ 6.3% |
| Trade receivables40 | - | €449,570 | €451,515 | €206,004 | €200,658 | ▼ 2.6% |
| Other amounts receivable41 | - | €1.1m | €394,370 | €0 | €18,352 | - |
| Current investments50/53 | - | - | - | - | €200,000 | - |
| Cash at bank and in hand54/58 | €517,243 | €112,277 | €111,198 | €84,243 | €52,426 | ▼ 37.8% |
| Deferred charges and accrued income490/1 | - | €873 | €72 | €311 | €1,519 | ▲ 388% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €23.4m | €24.1m | €23.8m | €23.0m | €23.5m | ▲ 2.2% |
| Equity10/15 | -€282,051 | -€525,194 | -€406,210 | -€536,126 | -€475,292 | ▲ 11.3% |
| Contributions10/11 | €62,400 | €62,400 | €62,400 | €62,400 | €62,400 | = |
| Capital10 | - | €62,400 | €62,400 | €62,400 | €62,400 | = |
| Issued capital100 | - | €62,400 | €62,400 | €62,400 | €62,400 | = |
| Reserves13 | €20,240 | €20,240 | €20,240 | €20,240 | €6,240 | ▼ 69.2% |
| Non-distributable reserves130/1 | - | €6,240 | €6,240 | €6,240 | €6,240 | = |
| Legal reserve130 | - | €6,240 | €6,240 | €6,240 | €6,240 | = |
| Distributable reserves133 | - | €14,000 | €14,000 | €14,000 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€364,691 | -€607,834 | -€488,850 | -€618,766 | -€543,932 | ▲ 12.1% |
| Amounts payable17/49 | €23.7m | €24.6m | €24.2m | €23.6m | €24.0m | ▲ 1.9% |
| Amounts payable after more than one year17 | €2.3m | €2.3m | €1.7m | €0 | - | - |
| Other amounts payable178/9 | - | €2.3m | €1.7m | €0 | - | - |
| Amounts payable within one year42/48 | €21.4m | €22.3m | €22.6m | €23.6m | €24.0m | ▲ 1.9% |
| Financial debts43 | - | €3.5m | €1.9m | €0 | €192 | - |
| Credit institutions430/8 | - | €3.5m | €1.9m | €0 | €192 | - |
| Trade debts44 | €1.4m | €64,299 | €63,217 | €30,103 | €3,569 | ▼ 88.1% |
| Suppliers440/4 | - | €64,299 | €63,217 | €30,103 | €3,569 | ▼ 88.1% |
| Advances received on contracts in progress46 | - | €14.3m | €15.7m | €17.2m | €17.6m | ▲ 1.8% |
| Taxes, remuneration and social security45 | - | €19,765 | €0 | €48,809 | €6,136 | ▼ 87.4% |
| Taxes450/3 | - | €19,765 | €0 | €48,809 | €6,136 | ▼ 87.4% |
| Other amounts payable47/48 | - | €4.5m | €5.0m | €6.2m | €6.4m | ▲ 3.2% |
| Accrued charges and deferred income492/3 | - | €3,100 | €2,500 | €481 | €163 | ▼ 66.2% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €193,820 | -€243,143 | €118,984 | -€129,916 | €60,834 | ▲ 147% |
| Operating cash flow (approximation) | €193,820 | -€243,143 | €118,984 | -€129,916 | €60,834 | ▲ 147% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | -€63,704 | - |
| Change in cash | - | -€404,966 | -€1,079 | - | -€31,817 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-03
State Gazette act
Resignation: BV Begeleiding en advies (director)Reappointments: NV Saarimmo (director) and BV Powerplay (director) · Permanent representatives: Vanherpe André and Vanherpe Steven · Appointments: NV Saarimmo (managing director) and Vanherpe André (chair of the board)11 facts ▸
State Gazette act
Resignation: BV Begeleiding en advies (director)
Reappointments: NV Saarimmo (director) and BV Powerplay (director) · Permanent representatives: Vanherpe André and Vanherpe Steven · Appointments: NV Saarimmo (managing director) and Vanherpe André (chair of the board)11 facts ▸
- General meeting, 31/10/2025
- Director resignation, BV Begeleiding en advies (director)
- Director discharge, BV Begeleiding en advies
- Director reappointment, NV Saarimmo (director)
- Director reappointment, BV Powerplay (director)
- Permanent representative, Vanherpe André
- Permanent representative, Vanherpe Steven
- Permanent representative, Vanherpe Steven
- Board meeting, 31/10/2025
- Director appointment, NV Saarimmo (managing director)
- Director appointment, Vanherpe André (chair of the board)
2025
23-12
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
30-06
Financial
Back to profitnet €60,834
Net result €60,834 after one loss-making year.
17-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €118,984
Net result €118,984 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet -€243,143
Net result drops to -€243,143, the lowest in the series; recovery starts the following year.
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €193,820 ▲1,842%
Operating result €116,865, net result €193,820, both a record.
20-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 81 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
Show earlier events
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2025
This board is reconstructed from a single act (26040081). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 3
André VANHERPE
CurrentChair of the board · since 31-10-2025
Powerplay
CurrentDirector · since 31-10-2025 · Private limited company · perm. rep.: Vanherpe Steven
Saarimmo
CurrentDirector · since 31-10-2025 · Public limited company · perm. rep.: Vanherpe André
Day-to-day management 1
Saarimmo
CurrentManaging director · since 31-10-2025 · Public limited company · perm. rep.: Vanherpe André
Permanent representatives 2
Vanherpe André
CurrentPermanent representative · since 31-10-2025 · for Saarimmo
Vanherpe Steven
CurrentPermanent representative · since 31-10-2025 · for Powerplay
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Nazareth-De Pinte · 1 establishment unit since 2003
Ground area
3,072 m²
Building footprint
1,625 m²
Volume, LiDAR
9,028 m³
Parcel 44048G0437/00R000, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
40
companies at this address
See who is registered here
1 establishment unit
COFYNA NV
since 20032.133.357.919
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44048G0437/00R000 | Flanders | 3,072 m² | 1 · 1,625 m² | 7.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
4 people since 2025, 3 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| André VANHERPE |
|
| Powerplay |
|
| Saarimmo |
|
| BEGELEIDING & ADVIES |
|
Structure & network
Owners and holdings
2 ownersOwners 2
-
50%
-
49.84%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
NEOCLIM
via André VANHERPE · Chair of the board
→
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 29,787 companies in sector 41001 we hold annual accounts for 16,042. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded24-06-2003
Fiscal year end30-06
Activities, NACEBEL 2025
41001General construction of residential buildings
68110Buying and selling of own real estate
E-invoicing
Reachable via Peppol
Peppol ID
0208:0861142739
Also
9925:BE0861142739
Registered
31-08-2023
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.