COPATRA - THEMA
ActiveCOPATRA - THEMA has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €129k and a net result of €-15k. Equity is shrinking by ~8.3% per year across the filed fiscal years. Its solvency ranks better than 48% of 7027 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
55
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability11▼-23
Solvency77▼-3
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity short (current ratio 0.01 against 0.0 in 2024; short-term debt: 48.1% and cash: 0.4% of total assets), and 48.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
1819202122232425
2018 to 2025 · latest year €-15k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-05-2026, 66 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
66 d early
2024
7 d early
2023
64 d early
2022
62 d early
2021
61 d early
2020
61 d early
2019
67 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€129k▼ 10.6%
2024 · €144k
2018: €203k
2019: €222k
2020: €267k
2021: €221k
2022: €190k
2023: €162k
2024: €144k
2018 → 2025
Total assets
€248k▼ 4.7%
2024 · €260k
2018: €327k
2019: €299k
2020: €287k
2021: €271k
2022: €298k
2023: €278k
2024: €260k
2018 → 2025
Net result
€-15k▲ 16.8%
2024 · €-18k
2018: €32k
2019: €34k
2020: €44k
2021: €-26k
2022: €-32k
2023: €-28k
2024: €-18k
2018 → 2025
Working capital
€-118k▼ 2.3%
2024 · €-116k
2018: €-80k
2019: €-28k
2020: €18k
2021: €-49k
2022: €-108k
2023: €-115k
2024: €-116k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€221k-€190k▼ 14.3%€162k▼ 14.5%€144k▼ 11.3%€129k▼ 10.6%
Operating result€-26k-€-31k▼ 21.9%€-27k▲ 14.1%€-18k▲ 33.7%€-15k▲ 17.4%
Net result€-26k-€-32k▼ 21.9%€-28k▲ 13.0%€-18k▲ 33.4%€-15k▲ 16.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €15k in 2025 against €18k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €248k
Fixed assets
€247k▼ 4.9%
Current assets
€955▲ 117%
Equity and liabilities €248k
Equity
€129k▼ 10.6%
Debt
€119k▲ 2.7%
The debt ratio rises from 44.6% to 48.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-2k▼
2024 · €438
Cash flow
€-3k▼
2024 · €-64
Solvency
51.9%▼
2024 · 55.4%
Current ratio
0.01▲
2024 · 0.00
Quick ratio
0.01▲
2024 · 0.00
Debt / equity
0.93▲
2024 · 0.81
ROE
-11.9%▲
2024 · -12.8%
ROA
-6.2%▲
2024 · -7.1%
Interest coverage
-13.96▼
2024 · 2.89
Debt
€119k▲
2024 · €116k
Debt ≤ 1 year
€119k▲
2024 · €116k
Income taxes
€363▲
2024 · €351
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€260k€248k▼
Fixed assets21/28€259k€247k▼
Tangible fixed assets22/27€259k€247k▼
Land and buildings22€259k€247k▼
Current assets29/58€441€955▲
Cash at bank and in hand54/58€177€955▲
Deferred charges and accrued income490/1€264€0▼
Equity and liabilities
Total equity and liabilities10/49€260k€248k▼
Equity10/15€144k€129k▼
Contributions10/11€20k€20k=
Reserves13€227k€227k=
Tax-exempt reserves132€322€322=
Distributable reserves133€227k€227k=
Profit (loss) carried forward14€-104k€-119k▼
Amounts payable17/49€116k€119k▲
Amounts payable within one year42/48€116k€119k▲
Trade debts44€619€1k▲
Suppliers440/4€619€1k▲
Taxes, remuneration and social security45€351€714▲
Taxes450/3€351€714▲
Other amounts payable47/48€115k€117k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€13k▼
Other operating charges640/8€3k€3k▲
Gross operating margin9900€3k€475▼
Operating profit (loss)9901€-18k€-15k▲
Financial income75/76B-€1
Recurring financial income75-€1
Financial charges65/66B€152€153▲
Recurring financial charges65€152€153▲
Profit (loss) for the period before taxes9903€-18k€-15k▲
Income taxes67/77€351€363▲
Profit (loss) for the period9904€-18k€-15k▲
Profit (loss) for the period to be appropriated9905€-18k€-15k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-104k€-119k▼
Profit (loss) brought forward from the previous period14P€-85k€-104k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-32k
Net result drops to €-32k, the lowest in the series; recovery starts the following year.
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €44k ▲30.8%
Operating result €64k, net result €44k, both a record.
31-12
Financial
Liquidity triplescurrent ratio 1.92
Current ratio from 0.62 to 1.92; short-term debt falls from €75k to €20k.
25-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Retie · 1 establishment unit since 1977
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Leeuweriklaan 22470 RetieGround area
1,796 m²
Building footprint
202 m²
Volume, LiDAR
1,053 m³
Parcel 13036E0495/00X012, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Leeuweriklaan 2, 2470 Retie
since 19772.013.163.437
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13036E0495/00X012 | Flanders | 1,796 m² | 1 · 202 m² | 8.3 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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XLS GRAPHIC DESIGN
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Publi K&J
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Of 9,862 companies in sector 73110 we hold annual accounts for 3,755. 2,994 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-01-1977
Fiscal year end31-12
Activities, NACEBEL
73110Advertising agencies
64200Holdings
64210Activities of holding companies
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.