COPRHA
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00502561.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 31 filings
Equity
€206,758▼ 0.7%
2024 · €208,248
Total assets
€247,990=
2024 · €248,067
Net result
-€1,490▲ 43.5%
2024 · -€2,640
Working capital
€202,903▼ 0.7%
2024 · €204,393
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€456
2025
20182025
Net result
-€1,490
▲ 43.5%
2025
lowest quarter of the sector
20182025
Equity
€206,758
▼ 0.7%
2025
middle half of the sector
20182025
Total assets
€247,990
=
2025
middle half of the sector
20182025
Debt
€41,232
▲ 3.5%
2025
20182025
Working capital
€202,903
▼ 0.7%
2025
middle half of the sector
20182025
Solvency
83.4%
▼ 0.6pp
2025
highest quarter of the sector
20182025
Current ratio
5.92
▼ 0.21
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-0.6%
▲ 0.5pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€32,590--€24,584€16,385€103,572▲ 532%€18,460▼ 82.2%-€3,299€545-€456
Net result€29,632--€27,340€12,502within the sector's middle half€87,688above the sector's middle half▲ 601%€10,993within the sector's middle half▼ 87.5%-€6,463below the sector's middle half-€2,640below the sector's middle half▲ 59.2%-€1,490below the sector's middle half▲ 43.5%
Equity€133,508-€106,168▼ 20.5%€118,670within the sector's middle half▲ 11.8%€206,358above the sector's middle half▲ 73.9%€217,351above the sector's middle half▲ 5.3%€210,888above the sector's middle half▼ 3.0%€208,248above the sector's middle half▼ 1.3%€206,758within the sector's middle half▼ 0.7%
Total assets€257,785-€258,694▲ 0.4%€237,207within the sector's middle half▼ 8.3%€258,308within the sector's middle half▲ 8.9%€262,601within the sector's middle half▲ 1.7%€248,635within the sector's middle half▼ 5.3%€248,067within the sector's middle half▼ 0.2%€247,990within the sector's middle half=
Debt€124,277-€152,526▲ 22.7%€118,537▼ 22.3%€51,951▼ 56.2%€45,250▼ 12.9%€37,747▼ 16.6%€39,819▲ 5.5%€41,232▲ 3.5%
Working capital€116,665-€98,420▼ 15.6%€114,461above the sector's middle half▲ 16.3%€201,388above the sector's middle half▲ 75.9%€212,939above the sector's middle half▲ 5.7%€207,033above the sector's middle half▼ 2.8%€204,393above the sector's middle half▼ 1.3%€202,903within the sector's middle half▼ 0.7%
Solvency51.8%-41.0%▼ 10.8pp50.0%within the sector's middle half▲ 9.0pp79.9%above the sector's middle half▲ 29.9pp82.8%above the sector's middle half▲ 2.9pp84.8%above the sector's middle half▲ 2.0pp83.9%above the sector's middle half▼ 0.9pp83.4%above the sector's middle half▼ 0.6pp
Current ratio1.94-1.65▼ 0.291.97within the sector's middle half▲ 0.324.88above the sector's middle half▲ 2.915.71above the sector's middle half▲ 0.836.48above the sector's middle half▲ 0.786.13above the sector's middle half▼ 0.355.92above the sector's middle half▼ 0.21
Return on assets (ROA)11.5%--10.6%▼ 22.1pp5.3%within the sector's middle half▲ 15.8pp33.9%above the sector's middle half▲ 28.7pp4.2%within the sector's middle half▼ 29.8pp-2.6%below the sector's middle half▼ 6.8pp-1.1%below the sector's middle half▲ 1.5pp-0.6%below the sector's middle half▲ 0.5pp
Staff (FTE)5.4-5.5▲ 1.9%3.9above the sector's middle half▼ 29.1%1.4▼ 64.1%
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €456, after a profit of €545 in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €247,990
Fixed assets
€3,855 =
Current assets
€244,136 =
Equity and liabilities €247,990
Equity
€206,758 ▼ 0.7%
Debt
€41,232 ▲ 3.5%
Debt's share of the balance-sheet total rises from 16.1% to 16.6%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
0.20▲
2024 · 0.19
ROE
-0.7%▲
2024 · -1.3%
Debt ≤ 1 year
€41,232▲
2024 · €39,819
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Average over the year, in full-time equivalents | 1.4 |
| Joined | 0 |
| Left | 4 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,672 | - | - | - | - |
| Depreciation and write-downs of the year | €912 | €557 | €557 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €37,039 | -€180 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,668 | €9,095 | €3,538 | €912 | €557 | €557 | - | - | - |
| Other operating charges640/8 | - | - | - | €5,192 | €653 | €384 | €2,931 | €400 | ▼ 86.4% |
| Gross operating margin9900 | €230,259 | €176,610 | €155,717 | €146,715 | €19,491 | -€2,357 | €3,476 | -€56 | - |
| Operating profit (loss)9901 | €32,590 | -€24,584 | €16,385 | €103,572 | €18,460 | -€3,299 | €545 | -€456 | - |
| Financial income75/76B | - | - | - | €250 | €46 | - | - | - | - |
| Recurring financial income75 | €139 | €563 | €400 | €250 | €46 | - | - | - | - |
| Financial charges65/66B | - | - | - | €3,454 | €3,442 | €3,164 | €3,184 | €1,034 | ▼ 67.5% |
| Recurring financial charges65 | €3,097 | €3,319 | €4,283 | €3,454 | €3,442 | €3,164 | €3,184 | €1,034 | ▼ 67.5% |
| Profit (loss) for the period before taxes9903 | €29,632 | -€27,340 | €12,502 | €100,367 | €15,064 | -€6,463 | -€2,640 | -€1,490 | ▲ 43.5% |
| Income taxes67/77 | - | - | - | €12,680 | €4,070 | - | - | - | - |
| Profit (loss) for the period9904 | €29,632 | -€27,340 | €12,502 | €87,688 | €10,993 | -€6,463 | -€2,640 | -€1,490 | ▲ 43.5% |
| Profit (loss) for the period to be appropriated9905 | €29,632 | -€27,340 | €12,502 | €87,688 | €10,993 | -€6,463 | -€2,640 | -€1,490 | ▲ 43.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €257,785 | €258,694 | €237,207 | €258,308 | €262,601 | €248,635 | €248,067 | €247,990 | = |
| Fixed assets21/28 | €16,843 | €7,748 | €4,209 | €4,970 | €4,412 | €3,855 | €3,855 | €3,855 | = |
| Tangible fixed assets22/27 | €12,988 | €3,893 | €355 | €1,115 | €557 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €1,115 | €557 | - | - | - | - |
| Financial fixed assets28 | €3,855 | €3,855 | €3,855 | €3,855 | €3,855 | €3,855 | €3,855 | €3,855 | = |
| Current assets29/58 | €240,942 | €250,947 | €232,998 | €253,339 | €258,189 | €244,781 | €244,212 | €244,136 | = |
| Amounts receivable within one year40/41 | €217,528 | €236,646 | €186,532 | €178,442 | €191,582 | €231,240 | €230,537 | €225,828 | ▼ 2.0% |
| Trade receivables40 | - | - | - | €97,026 | €90,166 | €99,823 | €99,120 | €94,411 | ▼ 4.8% |
| Other amounts receivable41 | - | - | - | €81,417 | €101,417 | €131,417 | €131,417 | €131,417 | = |
| Cash at bank and in hand54/58 | €23,414 | €14,300 | €46,466 | €74,896 | €66,607 | €13,541 | €13,676 | €18,308 | ▲ 33.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €257,785 | €258,694 | €237,207 | €258,308 | €262,601 | €248,635 | €248,067 | €247,990 | = |
| Equity10/15 | €133,508 | €106,168 | €118,670 | €206,358 | €217,351 | €210,888 | €208,248 | €206,758 | ▼ 0.7% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €61,976 | €61,976 | €61,976 | €61,976 | €61,976 | €61,976 | €61,976 | €61,976 | = |
| Non-distributable reserves130/1 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | - | - | €55,776 | €55,776 | €55,776 | €55,776 | €55,776 | = |
| Profit (loss) carried forward14 | €9,532 | -€17,808 | -€5,306 | €82,382 | €93,375 | €86,912 | €84,272 | €82,782 | ▼ 1.8% |
| Amounts payable17/49 | €124,277 | €152,526 | €118,537 | €51,951 | €45,250 | €37,747 | €39,819 | €41,232 | ▲ 3.5% |
| Amounts payable within one year42/48 | €124,277 | €152,526 | €118,537 | €51,951 | €45,250 | €37,747 | €39,819 | €41,232 | ▲ 3.5% |
| Trade debts44 | €45,283 | €85,324 | €34,234 | €1,107 | €1,398 | - | - | - | - |
| Suppliers440/4 | - | - | - | €1,107 | €1,398 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €36,638 | €29,124 | €20,789 | €22,861 | €24,274 | ▲ 6.2% |
| Taxes450/3 | - | - | - | €36,475 | €29,124 | €20,789 | €22,861 | €24,274 | ▲ 6.2% |
| Remuneration and social security454/9 | - | - | - | €163 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €14,205 | €14,728 | €16,958 | €16,958 | €16,958 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,632 | -€27,340 | €12,502 | €87,688 | €10,993 | -€6,463 | -€2,640 | -€1,490 | ▲ 43.5% |
| + Depreciation and write-downs630 | €35,668 | €9,095 | €3,538 | €912 | €557 | €557 | - | - | - |
| Operating cash flow (approximation) | €65,300 | -€18,245 | €16,040 | €88,600 | €11,551 | -€5,906 | -€2,640 | -€1,490 | ▲ 43.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€1,672 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€9,113 | €32,165 | €28,431 | -€8,290 | -€53,066 | €135 | €4,632 | ▲ 34× |
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, 12,322 companies had the same profile as COPRHA has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of COPRHA itself: 0.1% 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 12,322 companies, not a prediction for COPRHA. 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.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00502561 | |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00535841 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00453922 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00442074 | |
| 31-12-2021 | micro format | 05-09-2022 | 2022-20428151 | |
| 31-12-2020 | micro format | 10-01-2022 | 2022-00600524 | |
| 31-12-2019 | micro format | 31-10-2020 | 2020-67700216 | |
| 31-12-2018 | micro format | 16-12-2019 | 2019-76300077 | |
| 31-12-2017 | micro format | 15-05-2019 | 2019-13300385 | |
| 31-12-2016 | full format | 20-09-2017 | 2017-61800104 |