MARTENS-COPANEX
ActiveMARTENS-COPANEX has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.23M and a net result of €139k. Equity is growing by ~33.2% per year across the filed fiscal years. Its solvency ranks better than 30% of 275 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
56
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability71▲+4
Solvency49▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120k at 30 days acceptable
Liquidity tight (current ratio 1.24 against 1.3 in 2024; short-term debt: 55.4% and cash: 1.4% of total assets), and 76% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
24%
Return on assets
1.5%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Sector 16
higher
← fewer bankruptcies
more bankruptcies →
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 08-07-2026, 23 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
23 d early
2024
14 d early
2023
27 d early
2022
26 d early
2021
30 d early
2020
36 d early
2019
18 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€2.23M▲ 6.6%
2024 · €2.09M
2019: €500k
2020: €502k
2021: €655k
2022: €1.95M
2023: €2.01M
2024: €2.09M
2019 → 2025
Total assets
€9.30M▲ 12.6%
2024 · €8.26M
2019: €4.92M
2020: €6.25M
2021: €7.69M
2022: €7.81M
2023: €7.89M
2024: €8.26M
2019 → 2025
Net result
€139k▲ 61.0%
2024 · €86k
2019: €-100k
2020: €3k
2021: €152k
2022: €1.29M
2023: €59k
2024: €86k
2019 → 2025
Working capital
€1.25M▲ 0.3%
2024 · €1.24M
2019: €-67k
2020: €-95k
2021: €-30k
2022: €1.09M
2023: €1.08M
2024: €1.24M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€655k-€1.95M▲ 198%€2.01M▲ 3.0%€2.09M▲ 4.3%€2.23M▲ 6.6%
Operating result€233k-€1.65M▲ 606%€143k▼ 91.3%€234k▲ 64.0%€274k▲ 16.7%
Net result€152k-€1.29M▲ 749%€59k▼ 95.4%€86k▲ 46.3%€139k▲ 61.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 17% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.30M
Fixed assets
€2.90M=
Current assets
€6.40M▲ 19.4%
Equity and liabilities €9.30M
Equity
€2.23M▲ 6.6%
Debt
€7.06M▲ 14.6%
The debt ratio rises from 74.6% to 76.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€828k▼
2024 · €834k
Cash flow
€693k▲
2024 · €686k
Solvency
24.0%▼
2024 · 25.4%
Current ratio
1.24▼
2024 · 1.30
Quick ratio
0.69▲
2024 · 0.63
Debt / equity
3.16▲
2024 · 2.94
ROE
6.2%▲
2024 · 4.1%
ROA
1.5%▲
2024 · 1.0%
Interest coverage
6.24▲
2024 · 5.58
Debt
€7.06M▲
2024 · €6.16M
Debt ≤ 1 year
€5.15M▲
2024 · €4.11M
Debt > 1 year
€1.88M▼
2024 · €2.00M
Income taxes
€32k▲
2024 · €32k
Staff costs
€507k▼
2024 · €528k
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€8.26M€9.30M▲
Formation expenses20€0-
Fixed assets21/28€2.90M€2.90M=
Intangible fixed assets21€187k€140k▼
Tangible fixed assets22/27€2.71M€2.76M▲
Plant, machinery and equipment23€1.19M€1.32M▲
Furniture and vehicles24€137k€89k▼
Leasing and similar rights25€1.24M€1.24M=
Other tangible fixed assets26€147k€119k▼
Current assets29/58€5.36M€6.40M▲
Amounts receivable after more than one year29€752k€990k▲
Other amounts receivable291€752k€990k▲
Stocks and contracts in progress3€2.75M€2.84M▲
Stocks30/36€2.75M€2.84M▲
Amounts receivable within one year40/41€1.28M€1.94M▲
Trade receivables40€1.19M€1.88M▲
Other amounts receivable41€93k€59k▼
Cash at bank and in hand54/58€67k€131k▲
Deferred charges and accrued income490/1€503k€495k▼
Equity and liabilities
Total equity and liabilities10/49€8.26M€9.30M▲
Equity10/15€2.09M€2.23M▲
Contributions10/11€600k€600k=
Reserves13€1.49M€1.63M▲
Distributable reserves133€1.49M€1.63M▲
Amounts payable17/49€6.16M€7.06M▲
Amounts payable after more than one year17€2.00M€1.88M▼
Financial debts170/4€1.62M€1.55M▼
Other amounts payable178/9€386k€324k▼
Amounts payable within one year42/48€4.11M€5.15M▲
Current portion of amounts payable after more than one year42€507k€534k▲
Financial debts43€600k€600k=
Credit institutions430/8€600k€600k=
Trade debts44€2.92M€3.94M▲
Suppliers440/4€2.92M€3.94M▲
Taxes, remuneration and social security45€86k€74k▼
Taxes450/3€15k€18k▲
Remuneration and social security454/9€71k€56k▼
Accrued charges and deferred income492/3€46k€36k▼
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€528k€507k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€600k€554k▼
Other operating charges640/8€4k€8k▲
Gross operating margin9900€1.37M€1.34M▼
Operating profit (loss)9901€234k€274k▲
Financial income75/76B€33k€30k▼
Recurring financial income75€33k€30k▼
Financial charges65/66B€149k€133k▼
Recurring financial charges65€149k€133k▼
Profit (loss) for the period before taxes9903€118k€171k▲
Income taxes67/77€32k€32k▲
Profit (loss) for the period9904€86k€139k▲
Profit (loss) for the period to be appropriated9905€86k€139k▲
Appropriation of the result
Profit (loss) to be appropriated9906€86k€139k▲
Transfer to equity691/2€86k€139k▲
To other reserves6921€86k€139k▲
Social balance
Average headcount (FTE)90877.57.1▼
The notes to these accounts (20 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
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €2MEq €2.01M ▲3%
4 profitable years in a row build equity to €2.01M.
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2019net €1.29M ▲749%
Operating result €1.65M, net result €1.29M, both a record.
31-12
Financial
Equity above €1MEq €1.95M ▲198%
3 profitable years in a row build equity to €1.95M.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
31-12
Financial
Equity above €500kEq €502k ▲0.5%
Equity rises from €500k to €502k.
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Financial 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
Registered office, Wielsbeke · 1 establishment unit since 2018
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.
Pannenstraat 48710 WielsbekeGround area
630 m²
Building footprint
134 m²
Volume, LiDAR
1,074 m³
Parcel 37017A0475/02H002, Flanders · tallest building 10.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Martens Copanex
since 20182.283.423.352
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37017A0475/02H002 | Flanders | 630 m² | 1 · 134 m² | 10.0 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.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 1,986 EUR awarded · 1,986 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 839 EUR | 1,089 EUR |
| 2023 | 1 | 893 EUR | 643 EUR |
| 2022 | 1 | 254 EUR | 254 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
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Of 663 companies in sector 16110 we hold annual accounts for 320. 177 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded10-12-2018
Fiscal year end31-12
Trade name NL
Copanex
Activities, NACEBEL
16110Sawmilling and planing of wood
16281Manufacture of other wood products
46832Wholesale of timber
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.