COPINE
InactiveCOPINE was declared bankrupt on 10-05-2023 (Ondernemingsrechtbank Gent, afdeling Dendermonde); the bankruptcy was closed for insufficient assets by judgment of 13-05-2024, published in the Belgian State Gazette on 21-05-2024.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 4 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline24-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 12-07-2022, 19 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
19 d early
2020
52 d early
2019
89 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, abbreviated schema
Equity
€8k▼ 78.8%
2020 · €36k
2018: €35k
2019: €52k
2020: €36k
2018 → 2021
Total assets
€75k▼ 47.0%
2020 · €141k
2018: €172k
2019: €162k
2020: €141k
2018 → 2021
Net result
€-28k▼ 79.0%
2020 · €-16k
2018: €16k
2019: €17k
2020: €-16k
2018 → 2021
Working capital
€-25k▼ 17.1%
2020 · €-22k
2018: €-80k
2019: €-36k
2020: €-22k
2018 → 2021
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Equity€35k-€52k▲ 47.8%€36k▼ 30.6%€8k▼ 78.8%
Operating result€35k-€28k▼ 20.2%€-8k€-26k▼ 239%
Net result€16k-€17k▲ 1.9%€-16k€-28k▼ 79.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €26k in 2021 against €8k in 2020; the loss grows and 2021 has the lowest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €75k
Fixed assets
€33k ▼ 42.7%
Current assets
€42k ▼ 50.0%
Equity and liabilities €75k
Equity
€8k ▼ 78.8%
Debt
€67k ▼ 36.1%
Debt's share of the balance-sheet total rises from 74.5% to 89.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€4k▼
2020 · €23k
Cash flow
€2k▼
2020 · €15k
Current ratio
0.62▼
2020 · 0.79
Quick ratio
0.16▼
2020 · 0.18
Debt to equity
8.81
ROE
-371.9%▼
2020 · -44.0%
ROA
-37.9%▼
2020 · -11.2%
Interest coverage
2.23
Debt ≤ 1 year
€67k▼
2020 · €105k
Income taxes
€117▲
2020 · €116
Staff costs
€71k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2021 against 2020 · 47 lines
Balance sheet
Code20202021
Assets
Total assets20/58€141k€75k▼
Fixed assets21/28€58k€33k▼
Tangible fixed assets22/27€58k€33k▼
Plant, machinery and equipment23-€9k
Other tangible fixed assets26-€24k
Current assets29/58€83k€42k▼
Stocks and contracts in progress3€65k€31k▼
Stocks30/36-€31k
Amounts receivable within one year40/41€7k€5k▼
Other amounts receivable41-€5k
Cash at bank and in hand54/58€7k€6k▼
Deferred charges and accrued income490/1-€328
Equity and liabilities
Total equity and liabilities10/49€141k€75k▼
Equity10/15€36k€8k▼
Contributions10/11-€19k
Reserves13€33k€33k=
Non-distributable reserves130/1-€2k
Reserves not available under the articles1311-€2k
Distributable reserves133-€31k
Profit (loss) carried forward14€-16k€-44k▼
Amounts payable17/49€105k€67k▼
Amounts payable within one year42/48€105k€67k▼
Financial debts43-€3k
Credit institutions430/8-€3k
Trade debts44€67k€51k▼
Suppliers440/4-€51k
Taxes, remuneration and social security45-€6k
Taxes450/3-€3k
Remuneration and social security454/9-€3k
Other amounts payable47/48-€7k
Income statement
Code20202021
Non-recurring operating income76A-€1k
Remuneration, social security and pensions62-€71k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€31k€31k▼
Other operating charges640/8-€2k
Gross operating margin9900€101k€77k▼
Operating profit (loss)9901€-8k€-26k▼
Financial income75/76B-€172
Recurring financial income75€73€172▲
Financial charges65/66B-€2k
Recurring financial charges65€8k€2k▼
Profit (loss) for the period before taxes9903€-16k€-28k▼
Income taxes67/77€116€117▲
Profit (loss) for the period9904€-16k€-28k▼
Profit (loss) for the period to be appropriated9905€-16k€-28k▼
Appropriation of the result
Profit (loss) to be appropriated9906-€-44k
Profit (loss) brought forward from the previous period14P-€-16k
Social balance
Average headcount (FTE)9087-3.9
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2024
21-05
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Gent, afdeling Dendermonde · COPINE BV MARKT 71, 9160 LOKEREN · event 13-05-2024
2023
22-05
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · COPINE BV MARKT 71, 9160 LOKEREN · event 10-05-2023
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €-28k
Net result drops to €-28k, the lowest in the series.
09-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 89 days late
2019
31-12
Financial
Highest result since 2018net €17k ▲1.9%
Net result €17k, the highest in the series.
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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
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.
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | ALBERT COPPENS HOEZEKOUTERDREEF 43,
9300 AALST |
10-05-2023 → 13-05-2024 |
| Curator | CAROLINE TALLOEN HOEZEKOUTERDREEF 43, 9300 AALST |
10-05-2023 → 13-05-2024 |
Public money · subsidies and aid
Flemish government
2022 · 2 entries · 2,135 EUR awarded · 2,135 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 2 | 2,135 EUR | 2,135 EUR |
Schemes
Hinderpremie bij openbare werken
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)