Copain
ActiveSummary
Copain has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €174,945 and a net result of €15,672, of which €14,000 non-recurring income. Equity has been growing by about 23% per year since 2023. Its solvency ranks better than 80% of 138 sector peers (NACE 56, financial year 2026). The computed 12-month bankruptcy probability is 0.9% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 25-03-2022 Normal situation
- Activity
- Full-service restaurants NACE 56111and 1 other
- Joint committee
- 302 Paritair Comité voor het hotelbedrijf · annual accounts 31-03-2026
- Establishment unit
- 2.329.703.933 2260 Westerlo, since 25-03-2022
- Financial year end
- 31 March
- Peppol
- Reachable since 19-08-2025
Board and ownership
- MARCELDirector · permanent representative VAN DE SCHOOT Kevin Kristina Marcel
- TUERLINCKXDirector · permanent representative TUERLINCKX Giovanni Alice Johan
- MARCEL50%· score 9330-09-2025 annual accounts of MARCEL
- TUERLINCKX50%30-09-2025 annual accounts of TUERLINCKX
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.9%
- Gross margin
- €190,095
- ▼ 4.9%
- Turnover
- ≈ €580,000
- estimated
- Profit
- €15,672
- ▼ 53.2%
- Equity
- €174,945
- ▲ 9.8%
- Total assets
- €246,373
- ▲ 2.7%
- Employees on 31-03-2026
- 2
- ▲ 100%
Score breakdownraises riskSector: Food and beverage service activities (NACE 56)Founded in 2022Size: 2.7 FTE, total assets €246,373lowers riskLiquidity: current ratio 2.69, cash €63,770Show the evidence
Checked score
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 56, micro). It does better than 85% of them on solvency, 80% on liquidity, 60% on profitability and 56% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
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
The company filed its last 4 accounts on average 16 days before the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 29-09-2026 at the NBB all 4 filings
Every figure per financial year
The operating result for 2026 is 55% lower than in 2025. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Staff
| Item | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 4 | 1 | 2 |
| full-time | 4 | 4 | 1 | 2 |
| in full-time equivalents | 4 | 4 | 1 | 2 |
| Average over the year, in full-time equivalents | 2.1 | 3 | 2.9 | 2.7 |
| On a permanent contract | - | 1 | 1 | 1 |
| Joined | 28 | 21 | 33 | 19 |
| Left | 24 | 20 | 33 | 18 |
Source: social balance sheet in the 2023 to 2026 annual accounts
Investments
| Item | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|
| Tangible fixed assets | €96,409 | €35,165 | €755 | €25,503 |
| Intangible fixed assets | €60,000 | - | - | - |
| Depreciation and write-downs of the year | €12,071 | €25,500 | €30,966 | €33,380 |
Source: notes to the 2023 to 2026 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €14,000 | - |
| Remuneration, social security and pensions62 | €90,315 | €106,538 | €118,360 | €132,426 | ▲ 11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,071 | €25,500 | €30,966 | €33,380 | ▲ 7.8% |
| Other operating charges640/8 | €1,754 | €2,654 | €2,685 | €2,760 | ▲ 2.8% |
| Gross operating margin9900 | €123,810 | €204,353 | €199,889 | €190,095 | ▼ 4.9% |
| Operating profit (loss)9901 | €19,669 | €69,660 | €47,877 | €21,529 | ▼ 55.0% |
| Financial income75/76B | €260 | €3 | €718 | €926 | ▲ 28.9% |
| Recurring financial income75 | €260 | €3 | €718 | €926 | ▲ 28.9% |
| Financial charges65/66B | €2,816 | €4,950 | €2,830 | €1,785 | ▼ 36.9% |
| Recurring financial charges65 | €2,816 | €4,950 | €2,830 | €1,785 | ▼ 36.9% |
| Profit (loss) for the period before taxes9903 | €17,113 | €64,713 | €45,765 | €20,669 | ▼ 54.8% |
| Income taxes67/77 | - | €16,008 | €12,311 | €4,997 | ▼ 59.4% |
| Profit (loss) for the period9904 | €17,113 | €48,705 | €33,455 | €15,672 | ▼ 53.2% |
| Profit (loss) for the period to be appropriated9905 | €17,113 | €48,705 | €33,455 | €15,672 | ▼ 53.2% |
| Line | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €199,797 | €267,394 | €239,910 | €246,373 | ▲ 2.7% |
| Fixed assets21/28 | €144,337 | €154,002 | €123,791 | €115,914 | ▼ 6.4% |
| Intangible fixed assets21 | €57,113 | €51,113 | €45,113 | €39,113 | ▼ 13.3% |
| Tangible fixed assets22/27 | €87,224 | €102,889 | €78,679 | €76,801 | ▼ 2.4% |
| Plant, machinery and equipment23 | €72,941 | €90,325 | €67,832 | €56,704 | ▼ 16.4% |
| Other tangible fixed assets26 | €14,283 | €12,565 | €10,846 | €20,098 | ▲ 85.3% |
| Current assets29/58 | €55,460 | €113,392 | €116,119 | €130,458 | ▲ 12.3% |
| Stocks and contracts in progress3 | €13,100 | €15,425 | €31,820 | €37,757 | ▲ 18.7% |
| Stocks30/36 | €13,100 | €15,425 | €31,820 | €37,757 | ▲ 18.7% |
| Amounts receivable within one year40/41 | €18,449 | €14,479 | €3,050 | €24,233 | ▲ 694% |
| Trade receivables40 | €13,288 | €5,749 | €331 | €450 | ▲ 36.2% |
| Other amounts receivable41 | €5,161 | €8,731 | €2,720 | €23,783 | ▲ 774% |
| Cash at bank and in hand54/58 | €20,114 | €73,949 | €76,553 | €63,770 | ▼ 16.7% |
| Deferred charges and accrued income490/1 | €3,797 | €9,538 | €4,695 | €4,697 | = |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €199,797 | €267,394 | €239,910 | €246,373 | ▲ 2.7% |
| Equity10/15 | €77,113 | €125,819 | €159,273 | €174,945 | ▲ 9.8% |
| Contributions10/11 | €60,000 | €60,000 | €60,000 | €60,000 | = |
| Profit (loss) carried forward14 | €17,113 | €65,819 | €99,273 | €114,945 | ▲ 15.8% |
| Amounts payable17/49 | €122,683 | €141,576 | €80,637 | €71,427 | ▼ 11.4% |
| Amounts payable after more than one year17 | €61,090 | €63,263 | €30,346 | €2,103 | ▼ 93.1% |
| Financial debts170/4 | €61,090 | €63,263 | €30,346 | €2,103 | ▼ 93.1% |
| Amounts payable within one year42/48 | €48,538 | €77,841 | €50,007 | €48,460 | ▼ 3.1% |
| Current portion of amounts payable after more than one year42 | €20,192 | €31,913 | €32,918 | €37,064 | ▲ 12.6% |
| Trade debts44 | €19,995 | €21,793 | €5,706 | €7,131 | ▲ 25.0% |
| Suppliers440/4 | €19,995 | €21,793 | €5,706 | €7,131 | ▲ 25.0% |
| Taxes, remuneration and social security45 | €8,310 | €24,095 | €11,344 | €4,224 | ▼ 62.8% |
| Taxes450/3 | €1,008 | €12,635 | €8,217 | €504 | ▼ 93.9% |
| Remuneration and social security454/9 | €7,302 | €11,460 | €3,126 | €3,721 | ▲ 19.0% |
| Other amounts payable47/48 | €41 | €41 | €41 | €41 | = |
| Accrued charges and deferred income492/3 | €13,056 | €471 | €283 | €20,863 | ▲ 74× |
| Line | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,113 | €48,705 | €33,455 | €15,672 | ▼ 53.2% |
| + Depreciation and write-downs630 | €12,071 | €25,500 | €30,966 | €33,380 | ▲ 7.8% |
| Operating cash flow (approximation) | €29,185 | €74,205 | €64,421 | €49,052 | ▼ 23.9% |
| Investment in fixed assets (approximation) | - | -€35,165 | -€755 | -€25,503 | ▼ 3,276% |
| Change in cash | - | €53,835 | €2,604 | -€12,783 | - |
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, 39,278 companies had the same profile as Copain has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Copain itself: 0.9% 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 39,278 companies, not a prediction for Copain. 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.
Filings with the National Bank (4)
Board & ownership
Directors
Board 2
Permanent representatives 2
Owners and capital
Shareholders
2 ownersOwners 2
- Equity €84,205 Profit of €12,396 in 2025 (profit of €21,415 in 2024) Checked score 9350%
- Equity €117,913 Profit of €40,254 in 2025 (profit of €30,707 in 2024)50%
Capital transactions
- TUERLINCKX (BE 0568.900.743) 50 shares (50%) · €30,000
- MARCEL (BE 0781.997.073) 50 shares (50%) · €30,000
- 29-03-2022 Incorporation · €60,000 · 100 shares
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| MARCEL |
|
| TUERLINCKX |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Natuurlijke personen of rechtspersonen,al dan niet aandeelhouder, 1”
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “100, gelijk recht in de winstverdeling”
Articles of association, deed of 29-03-2022 (in Dutch)
Network & group
Connections & network
2 current directorsThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Acts, filings and financial milestones
29-03
Gazette deed
IncorporationStarting capital €60,000 · Appointments: TUERLINCKX (director) and MARCEL (director) · Permanent representatives: TUERLINCKX Giovanni Alice Johan and VAN DE SCHOOT Kevin Kristina Marcel · Founder13 points ▸
- Incorporation, 25-03-2022
- Founder, TUERLINCKX
- Founder, MARCEL
- Founding capital, €60,000
- Bank account, 60000, “bijzondere rekening geopend namens de vennootschap in oprichting” (deed in Dutch)
- Other provision, 16-03-2022
- Pre-incorporation commitments, “takeover, alle verbintenissen en verplichtingen en alle activiteiten in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
- Board rule, 2, “vergadering” (deed in Dutch)
- Director appointment, TUERLINCKX (director)
- Permanent representative, TUERLINCKX Giovanni Alice Johan
- Director appointment, MARCEL (director)
- Permanent representative, VAN DE SCHOOT Kevin Kristina Marcel
- The act holds 1 more point.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
9 activities
- Het uitbaten van een restaurant met volledige bediening inclusief het aanbieden van afhaalgerechten.
- Het aanbieden en uitvoeren van traiteurdiensten en catering. Het bereiden van maaltijden en spijzen in eigen keuken en in keukens van derden zoals kantines,bedrijfsrestaurants en dergelijke meer.
- Het klaarmaken en thuisbezorgen van maaltijden,bereide schotels en snacks. Kortom alle activiteiten in de horecasector en in het horecabedrijf.
- Het verlenen van consultancy verband houdende met de horeca.
- De vennootschap kan de beschikbare activa investeren in onroerende goederen als goed huisvader,en in activa die gebruikt worden voor een verloning van de bestuurders in natura.
- De vennootschap mag middelen in natura ter beschikking stellen als bijkomende verloning voor de bestuurders. Dit alles in de meest ruime zin.
- Zij heeft in het algemeen de volle rechtsbekwaamheid om alle handelingen en verrichtingen te voltrekken die een rechtstreeks of onrechtstreeks verband houden met haar voorwerp of welke van die aard zouden zijn dat zij de verwezenlijking van dit voorwerp,rechtstreeks of onrechtstreeks,geheel of ten dele vergemakkelijken.
- Zij kan belangen nemen door associatie,inbreng,fusie,financiële tussenkomst of op gelijk welke andere wijze,in alle vennootschappen,verenigingen of ondernemingen met een identiek,gelijklopend of samenhangend voorwerp met het hare of die van aard kunnen zijn de ontwikkeling van haar onderneming te begunstigen of een bron van afzetten te vormen.
- Zij kan de functies van bestuurder of vereffenaar uitoefenen in andere vennootschappen.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Food safety, FASFC
1 siteSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13039B0161/00B004 | Flanders | 1,427 m² | 1 · 192 m² | 7.8 m · 2 |