COPARFIN
ActiveSummary
COPARFIN has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.2m and a net result of -€43,574. Equity is shrinking by ~5.9% per year across the filed fiscal years. Its solvency ranks better than 93% of 18606 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability15▲+1
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75,000 at 30 days acceptable
short-term debt: 0.5% and cash: 0.1% of total assets, and 11.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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
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
19202122232425
2019 to 2025 · latest year -€43,574
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 24-10-2025, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
7 d early
2023
7 d early
2022
3 d early
2021
27 d early
2020
68 d early
2019
2 d early
← 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 17 days before 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 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 24 October (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close28-09-2026 today31-10-2026 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€43,574▲ 18.3%
2024 · -€53,363
Working capital
€1.4m▼ 2.9%
2024 · €1.4m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€2,944▲ 94.2%-€223,639▼ 7,496%-€87,593▲ 60.8%-€52,398▲ 40.2%-€42,690▲ 18.5%
Net result-€15,925below the sector's middle half▲ 52.4%-€240,121below the sector's middle half▼ 1,408%-€87,335below the sector's middle half▲ 63.6%-€53,363below the sector's middle half▲ 38.9%-€43,574below the sector's middle half▲ 18.3%
Equity€1.7mabove the sector's middle half▼ 1.0%€1.4mabove the sector's middle half▼ 14.5%€1.3mabove the sector's middle half▼ 6.2%€1.3mabove the sector's middle half▼ 4.0%€1.2mabove the sector's middle half▼ 3.4%
Total assets€2.1mabove the sector's middle half▼ 2.6%€1.8mabove the sector's middle half▼ 17.2%€1.6mabove the sector's middle half▼ 12.3%€1.5mabove the sector's middle half▼ 6.5%€1.4mabove the sector's middle half▼ 3.5%
Debt€480,471▼ 8.0%€352,676▼ 26.6%€221,498▼ 37.2%€173,533▼ 21.7%€165,963▼ 4.4%
Working capital€1.9mabove the sector's middle half▼ 1.9%€1.7mabove the sector's middle half▼ 9.8%€1.5mabove the sector's middle half▼ 12.2%€1.4mabove the sector's middle half▼ 6.3%€1.4mabove the sector's middle half▼ 2.9%
Solvency77.5%above the sector's middle half▲ 1.3pp80.1%above the sector's middle half▲ 2.5pp85.7%above the sector's middle half▲ 5.6pp88.0%above the sector's middle half▲ 2.3pp88.1%above the sector's middle half▲ 0.1pp
Return on assets (ROA)-0.7%below the sector's middle half▲ 0.8pp-13.6%below the sector's middle half▼ 12.8pp-5.6%below the sector's middle half▲ 7.9pp-3.7%below the sector's middle half▲ 1.9pp-3.1%within the sector's middle half▲ 0.6pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2022 Net result -1,408% on 2021. The accounts now follow the micro schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €42,690 in 2025 against €52,398 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€8,945 ▼ 45.7%
Current assets
€1.4m ▼ 3.0%
Equity and liabilities €1.4m
Equity
€1.2m ▼ 3.4%
Debt
€165,963 ▼ 4.4%
Debt's share of the balance-sheet total falls from 12.0% to 11.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€35,156▲
2024 · -€44,729
Cash flow
-€36,039▲
2024 · -€45,694
Quick ratio
3.69▲
2024 · 3.27
Debt to equity
0.13▼
2024 · 0.14
ROE
-3.5%▲
2024 · -4.2%
Interest coverage
-112.85▼
2024 · -98.67
Debt ≤ 1 year
€7,658▼
2024 · €9,611
Debt > 1 year
€158,305▼
2024 · €163,922
Income taxes
€572▼
2024 · €583
A ratio outside any meaningful range has been withheld (balance sheet total €1.4m, equity €1.2m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,616 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.7% 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 497,662 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% | 1.7% |
| 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 75% 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 8,616 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,192 | €6,549 | €7,296 | €7,669 | €7,535 | ▼ 1.8% |
| Other operating charges640/8 | - | €108,707 | €2,063 | €2,264 | €2,239 | ▼ 1.1% |
| Gross operating margin9900 | €17,475 | -€108,383 | -€78,234 | -€42,465 | -€32,916 | ▲ 22.5% |
| Operating profit (loss)9901 | -€2,944 | -€223,639 | -€87,593 | -€52,398 | -€42,690 | ▲ 18.5% |
| Financial income75/76B | - | €1,219 | €1,448 | €72 | €0 | ▼ 99.7% |
| Recurring financial income75 | €1,819 | €1,219 | €1,448 | €72 | €0 | ▼ 99.7% |
| Financial charges65/66B | - | €16,995 | €600 | €453 | €312 | ▼ 31.3% |
| Recurring financial charges65 | €14,382 | €16,995 | €600 | €453 | €312 | ▼ 31.3% |
| Profit (loss) for the period before taxes9903 | -€15,507 | -€239,416 | -€86,745 | -€52,779 | -€43,002 | ▲ 18.5% |
| Income taxes67/77 | €418 | €706 | €591 | €583 | €572 | ▼ 2.0% |
| Profit (loss) for the period9904 | -€15,925 | -€240,121 | -€87,335 | -€53,363 | -€43,574 | ▲ 18.3% |
| Profit (loss) for the period to be appropriated9905 | -€15,925 | -€240,121 | -€87,335 | -€53,363 | -€43,574 | ▲ 18.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.1m | €1.8m | €1.6m | €1.5m | €1.4m | ▼ 3.5% |
| Fixed assets21/28 | €214,849 | €29,523 | €23,592 | €16,480 | €8,945 | ▼ 45.7% |
| Tangible fixed assets22/27 | €213,849 | €28,523 | €22,592 | €15,480 | €7,945 | ▼ 48.7% |
| Furniture and vehicles24 | - | €999 | €1,823 | €1,468 | €689 | ▼ 53.0% |
| Leasing and similar rights25 | - | €27,525 | €20,769 | €14,012 | €7,256 | ▼ 48.2% |
| Financial fixed assets28 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Current assets29/58 | €1.9m | €1.7m | €1.5m | €1.4m | €1.4m | ▼ 3.0% |
| Stocks and contracts in progress3 | €1.8m | €1.6m | €1.5m | €1.4m | €1.4m | ▼ 2.9% |
| Stocks30/36 | - | €1.6m | €1.5m | €1.4m | €1.4m | ▼ 2.9% |
| Amounts receivable within one year40/41 | €14,870 | €15,392 | €20,424 | €23,687 | €26,647 | ▲ 12.5% |
| Trade receivables40 | - | - | €2,000 | €2,000 | €2,000 | = |
| Other amounts receivable41 | - | €15,392 | €18,424 | €21,687 | €24,647 | ▲ 13.6% |
| Current investments50/53 | €109,799 | €59,625 | - | - | - | - |
| Cash at bank and in hand54/58 | €35,903 | €77,026 | €43,297 | €5,662 | €805 | ▼ 85.8% |
| Deferred charges and accrued income490/1 | - | €744 | €2,085 | €2,041 | €829 | ▼ 59.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.1m | €1.8m | €1.6m | €1.5m | €1.4m | ▼ 3.5% |
| Equity10/15 | €1.7m | €1.4m | €1.3m | €1.3m | €1.2m | ▼ 3.4% |
| Contributions10/11 | - | €1.5m | €1.5m | €1.3m | €1.2m | ▼ 3.4% |
| Profit (loss) carried forward14 | -€45,044 | -€45,044 | -€132,379 | - | - | - |
| Amounts payable17/49 | €480,471 | €352,676 | €221,498 | €173,533 | €165,963 | ▼ 4.4% |
| Amounts payable after more than one year17 | €477,498 | €343,717 | €213,946 | €163,922 | €158,305 | ▼ 3.4% |
| Financial debts170/4 | - | €343,717 | €213,946 | €163,922 | €158,305 | ▼ 3.4% |
| Amounts payable within one year42/48 | €2,674 | €8,959 | €7,552 | €9,611 | €7,658 | ▼ 20.3% |
| Current portion of amounts payable after more than one year42 | - | €5,484 | €5,528 | €5,572 | €5,617 | ▲ 0.8% |
| Trade debts44 | €664 | €1,047 | €672 | €1,977 | €381 | ▼ 80.7% |
| Suppliers440/4 | - | €1,047 | €672 | €1,977 | €381 | ▼ 80.7% |
| Advances received on contracts in progress46 | - | €1,400 | €750 | €1,500 | €500 | ▼ 66.7% |
| Taxes, remuneration and social security45 | - | €247 | €602 | €562 | €572 | ▲ 1.8% |
| Taxes450/3 | - | €247 | €602 | €562 | €572 | ▲ 1.8% |
| Other amounts payable47/48 | - | €781 | - | - | €588 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,925 | -€240,121 | -€87,335 | -€53,363 | -€43,574 | ▲ 18.3% |
| + Depreciation and write-downs630 | €16,192 | €6,549 | €7,296 | €7,669 | €7,535 | ▼ 1.8% |
| Operating cash flow (approximation) | €266 | -€233,572 | -€80,039 | -€45,694 | -€36,039 | ▲ 21.1% |
| Investment in fixed assets (approximation) | - | €178,777 | -€1,365 | -€557 | €0 | ▲ 100% |
| Change in cash | - | €41,123 | -€33,729 | -€37,635 | -€4,857 | ▲ 87.1% |
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
2025
24-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
24-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
24-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Weakest financial yearnet -€240,121
Net result drops to -€240,121, the lowest in the series; recovery starts the following year.
2021
04-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
31-03
Financial
Liquidity triplescurrent ratio 719.25
Current ratio from 253.39 to 719.25; short-term debt falls from €7,760 to €2,674.
2020
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
25-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
10-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Waterloo · 1 establishment unit since 2005
Ground area
651 m²
Building footprint
162 m²
Volume, LiDAR
961 m³
Parcel 25763K0431/00B000, Wallonia · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
COPARFIN
since 20052.150.754.373
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763K0431/00B000 | Wallonia | 651 m² | 1 · 162 m² | 8.9 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.
Recognitions · licences · registrations
Legal Entity Identifier
967600UR27RS6DQWNZ14
Similar companies · same sector, comparable size
NEWTOWN
BE 0860.217.675
Oostende · Eq €1,264,734
P.A.A.
BE 0891.667.748
Brussel · Eq €1,285,338
ELAN Invest
BE 0474.538.351
Tongeren-Borgloon · Eq €1,173,335
STAMPAERT
BE 0828.299.727
Deinze · Eq €1,326,777
Compen Antiques
BE 0840.553.302
Pelt · Eq €1,327,603
Of 1,436 companies in sector 47791 we hold annual accounts for 457. 213 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-09-2005
Fiscal year end31-03
Activities, NACEBEL 2025
47791Retail sale of antiques
68121Development of residential building projects
47792Retail sale of second-hand clothing
70200Business and other management consultancy
Contact
E-mail
gbouillon@skynet.beWaterloo
Phone
0475/236450Waterloo
E-invoicing
Reachable via Peppol
Peppol ID
0208:0876519120
Registered
29-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.