Equity
-€479,316
Debts exceed assets in financial year 2025.
COSPAIA
Lifetime
19 annual accounts with figures on one time axis, 20 filings since 2006peak €858,263 (2008)
€225,990▼ 42.5%
lowest -€222,432 (2009)
-€160,383▼ €204,492
peak -€80,961 (2008)
-€479,316▼ €160,383
€959,941▲ 30.5%
peak 19.7 FTE (2024)
19.7 FTEunchanged
Board5 names since 2016
1 director
Owners2 names in the annual accounts
60%
Documentsfilings and deeds
15-04-202674 days late
2025financial year
Plan homologation 09-10Judicial reorganisation opened 04-07Gross margin from €392,870 to €225,990Loss of €160,383Equity from -€318,933 to -€479,316Debts from €735,311 to €959,941
Key points
from the 2025 annual accountsResult
-€160,383 -€160,383
From profit to loss in 2025, after a profit of €44,109 in 2024.
Debts
€959,941 200% of the balance sheet
Financial debts 7%Suppliers 26%Taxes and wages 28%Other 40%
Of this, €751,727 falls due within a year.
Staff
21 employees on 30-06-2025
In 2025, 64 people joined and 61 left.
Filings
20 annual accounts 74 days
Latest accounts filed late: after the legal deadline.
Position in the sector
-€479,316
Less equity than 94% of companies in food and beverage service. Sector median €110,771 · 389 companies.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 677 companies had the same profile as COSPAIA has now. Each dot stands for 2 companies, two years later.
84.5%
were still trading
6.2%
stopped another way
6.8%
went bankrupt
Another 2.5% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,762 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 677 companies, not a prediction for COSPAIA. 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.
Credit verdict
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Signals
Board and ownership
Director, , since 19-04-2023
- 60%score equity €33,111 (2025) · 2025 annual accounts of
- 40%equity €78,946 (2023) · 30-06-2023 annual accounts of
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0873168264
Plan homologation
French-language Enterprise Court of Brussels · judgment of 01-10-2025 · Judicial reorganisation
Judicial reorganisation opened
French-language Enterprise Court of Brussels · collective agreement · judgment of 25-06-2025 · Judicial reorganisation
4 directors resigning
Change of role: , from director to sole director · Resignations: (managing director), , (managing director) and · Permanent representative: · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| COSPAIA Ixelles | €480,625 | €225,990 | -99.7% | 19.7 |
| De Sjoks Zoersel | €695,311 | €302,120 | 22.4% | 16.6 |
| DIMAI Antwerp | €515,027 | €490,602 | 59.5% | 21.2 |
| KIGALO Kortemark | €660,299 | €468,982 | 1.3% | 18.5 |
| MANITOR Woluwe-Saint-Lambert | €444,972 | €449,605 | 17.5% | 12.6 |
| GREEN MANGO Sint-Gillis (bij-Brussel) | €592,416 | €270,710 | 21.7% | 12.1 |
| PAGLIACCI Ternat | €837,216 | €335,872 | 66.1% | 15.8 |
These companies have the same main activity as COSPAIA: full-service restaurants (NACE 56111). They are comparable in size and age: total assets between €445,000 and €837,000, founded between 1998 and 2013.
Official details
Source: KBO- Status
- Active since 13-04-2005Normal situation
- Activity
- Full-service restaurantsNACE 56111and 1 other
- Joint committee
- 302Hotels and catering · annual accounts 30-06-2022
- Establishment unit
- 2.148.014.2231050 Ixelles, since 15-07-2005
- Financial year end
- 30 June
- Peppol
- Reachable since 07-10-2026
Annual accounts to 30-06-2025
- ≈ €690,000estimated
- €480,625▲ 15.4%
- Employeeson 30-06-2025
- 21=
- Filing
- Filed on 15-04-2026
Insights on COSPAIA
COSPAIA has existed since 2005. In 2022 the gross margin rose from €285,494 to €625,703.
Solvency fell in 2025 from -76.6% to -99.7% because of the loss and higher debts to suppliers.
holds 60% of the shares. In May 2023, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about COSPAIA
- What is the company number of COSPAIA?
- The company number of COSPAIA is 0873.168.264. The VAT number is the same number with BE in front: BE 0873.168.264.
- Where is COSPAIA based?
- The registered office is at Kapitein Crespelstraat 1, 1050 Ixelles.Company details
- What does COSPAIA do?
- According to the KBO register, the main activity is full-service restaurants (NACE 56111).
- What is the legal form of COSPAIA?
- COSPAIA is a public limited company (NV).
- When was COSPAIA founded?
- COSPAIA was founded on 13-04-2005.
- Is COSPAIA still active?
- Yes, COSPAIA is an active enterprise in the KBO register.
- How many employees does COSPAIA have?
- COSPAIA had an average of 19.7 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does COSPAIA fall under?
- In its 30-06-2022 annual accounts, COSPAIA states joint committee 302 (Hotels and catering).
- What is the turnover of COSPAIA?
- The turnover in financial year 2025 is ≈ €690,000. This figure is estimated from the gross margin of €225,990 and 31 comparable companies (NACE 56111). It probably lies between €570,000 and €760,000.
- Is COSPAIA profitable?
- In financial year 2025, COSPAIA made a loss of €160,383.
- Where can I find the annual accounts of COSPAIA?
- COSPAIA filed 20 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of COSPAIA due?
- COSPAIA must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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