Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 21 % of short-term debt in 2025; threshold 65 %.
-
Busy address KBO
18 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
L'Economie Populaire from Ciney, company number BE0401388176, closed financial year 2025 with a result of € 338,047 after tax. For that financial year L'Economie Populaire recorded revenue of € 172.9 million and equity of € 14.9 million. Compared with financial year 2024, the result moved from € 2.8 million to € 338,047. The company is profitable. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 26, 2026.
€ 14.9 million
▼ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 338,047
▼ 88% vs 2024
Profit after tax over the fiscal year.
€ 3 million
▲ 49% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 693,000 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
631.4
▼ 1.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 43.6 million
▲ 5% vs 2024
€ 69,100 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 531,257
▲ 88% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 68.5 million
▲ 11% vs 2024
€ 7.9 million is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 14.8 million
▲ 41% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 42 days on average.
€ 12.4 million
▲ 3% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 150,493,419 | € 158,540,367 | € 164,691,054 | € 172,911,505 | ▲ 5% |
| Profit after taxes | € 664,500 | € 113,319 | € 2,781,990 | € 338,047 | ▼ 88% |
| Equity | € 13,410,933 | € 13,224,252 | € 15,313,242 | € 14,905,327 | ▼ 3% |
| Total debts | € 88,440,361 | € 91,691,282 | € 87,918,236 | € 99,040,303 | ▲ 13% |
| Cash | € 5,840,108 | € 1,553,059 | € 2,044,821 | € 3,047,270 | ▲ 49% |
| Land & buildings | € 13,374,420 | € 14,449,322 | € 13,079,012 | € 14,907,658 | ▲ 14% |
| Retained profit | € 1,528,980 | € 1,342,299 | € 3,431,289 | € 3,076,336 | ▼ 10% |
| Dividend | € 924,000 | € 300,000 | € 693,000 | € 693,000 | |
| Bank debt | € 62,790,835 | € 65,516,893 | € 61,792,895 | € 68,530,837 | ▲ 11% |
| Balance sheet total | € 105,413,489 | € 107,833,188 | € 105,836,183 | € 114,736,948 | ▲ 8% |
| Employees (FTE) | 602.9 | 623.9 | 633.3 | 631.4 | ▼ 1.9 |
Key figures of L'Economie Populaire, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to L'Economie Populaire?
What happened at L'Economie Populaire in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Eric ALBERTUCCIO stepped down as director. NBB
- Hilde DEWOLF stepped down as director. NBB
- Eric SPIESSENS stepped down as director. NBB
- Christian KUNSCH stepped down as director. NBB
- Pierre PHILIPPOT stepped down as director. NBB
- Michel VANHAEREN stepped down as director. NBB
- JEAN MARC RICHARD stepped down as director. NBB
- Thibauly DEHAES stepped down as director. NBB
In short
From € 664,500 profit in 2022 to € 338,047 profit in 2025.
Paid € 708,177 in corporate taxes since 2022.
Best year ever: 2024, with € 2.8 million profit.
Paid out € 2.6 million in dividends to the owners in total.
A new publication or filing at L'Economie Populaire? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of CAPLINE comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
L'Economie PopulaireThe shares are held by CAPLINE (81.9%). It owns 100% of PHARMACIE P. BASTIN, 100% of PHARMACIE DU MOULIN, 100% of PHARMACIE COPPE, 100% of PHARMACIE DU XII, 100% of PHARMACIE SANTIS DES CORETTES and 100% of PHARMACIE PIROT-GROSJEAN itself.
Directors
According to the 2025 annual accounts
Marc BECKER
Director
since 2020 · until 2026
Eric ALBERTUCCIO
Director
since 2025 · until 2031
Frédéric POSSEMIERS
Director
since 2025 · until 2025
Régis LANOVE
Director
since 2022 · until 2028
Marc TINANT
Director
since 2021 · until 2027
since 2024 · until 2028
Hilde DEWOLF
Director
since 2025 · until 2031
Eric SPIESSENS
Director
Also active at: Beweging.academie, Huis van de Arbeid - Maison du Travail, PUBLIGAS, VLAAMSE ENERGIEHOLDING, ASPIRAVI, ASPIRAVI OFFSHORE, TeaMWise, ASPIRAVI ENERGY +6 more
since 2025 · until 2031
Claude ROLIN
Director
Also active at: Nationaal Hulpfonds-Fonds National d'Entraide, InterMedSo Luxembourg, CREAGORA
since 2025 · until 2025
Jean-Nicolas BURNOTTE
Director
since 2020 · until 2026
Thomas CALANDE
Director
Also active at: Etablissements Winandy, PHARMACIE P. BASTIN, PHARMACIE DU MOULIN, Pharmacie Pirot-Grosjean, Pharmacie Coppe, NEW FAMILIA
since 2020 · until 2026
since 2020 · until 2026
Christian KUNSCH
Chairman of the board
Also active at: ASSOCIATION CHRETIENNE DES INSTITUTIONS SOCIALES ET DE SANTE
since 2025 · until 2031
Pierre PHILIPPOT
Director
since 2025 · until 2031
Thibauly DEHAES
Managing director
since 2023 · until 2029
since 2025 · until 2031
Ariane ESTENNE
Director
since 2020 · until 2026
JEAN MARC RICHARD
Director
since 2025 · until 2031
Shareholders
81.9%
Participations
100%
100%
100%
100%
100%
100%
100%
Establishments
Establishment units
Physical locations of this company
Rue Edouard Dinot 32
5590 Ciney
Avenue de Ninove,Jemelle 91
5580 Rochefort
Active since 3 October 1983
Rue des Carmes 36
4000 Liège
Active since 1 January 1971
Marloie, Chaussée de Rochefort 105
6900 Marche-en-Famenne
Active since 1 May 1961
Marche, Rue Saint-Laurent 13
6900 Marche-en-Famenne
Active since 1 April 1960
Rue de Bouvy(L.L) 164
7100 La Louvière
Active since 5 January 1980
Rue de la Libération 136
7080 Frameries
Active since 1 September 1976
Avenue du Bélian 30
7000 Mons
Active since 1 April 1970
Rue Emile Urbain(S-V) 128
7100 La Louvière
Active since 1 June 1969
Rue du Commerce 35
7340 Colfontaine
Active since 1 October 1962
Rue François Dorzée(B) 14
7300 Boussu
Active since 1 March 1962
Libramont,Grand'rue 28
6800 Libramont-Chevigny
Active since 1 November 1975
Rue de la Gare 29
6880 Bertrix
Active since 1 August 1961
Rue Lucien Burnotte,NEU 8
6840 Neufchâteau
Active since 1 September 1956
Rue Joseph-Renquin 74
6600 Bastogne
Active since 1 April 1954
Rue des Brasseurs(Jod.) 1
1370 Jodoigne
Active since 1 May 1961
Rue de la Libération 10
1440 Braine-le-Château
Active since 1 October 1973
Avenue Gaston Mertens(W-B) 13
1440 Braine-le-Château
Active since 1 July 1973
Rue de la Station 10
1360 Perwez
Active since 1 April 1972
Rue de la Soie 12
1480 Tubize
Active since 1 October 1970
Rue du Commerce 21
5590 Ciney
Active since 7 May 1919
rue de Rochefort 62
5570 Beauraing
Active since 7 May 1919
Grand-Rue 21
6760 Virton
Active since 7 May 1919
Place Roi Albert Ier 14
5580 Rochefort
Active since 7 May 1919
Place Reine-Astrid 7
5500 Dinant
Active since 7 May 1919
Pré des Haz(TAM) 6-4
5060 Sambreville
Active since 1 January 2004
Rue Albert(K) 44
7540 Tournai
Active since 1 May 2006
Rue F.-J.-Piessevaux,St-Mard 10
6762 Virton
Active since 1 November 1968
Rue Paul-Joseph-Carpay 20
4020 Liège
Active since 2 January 1986
Rue Grande, Godinne 3
5530 Yvoir
Active since 5 January 2004
Sint-Jobsesteenweg 487
1180 Ukkel
Active since 1 February 1994
Rue du Môle 4
1420 Braine-l'Alleud
Active since 1 February 1970
Rue du Campus des Viviers 9
6060 Charleroi
Active since 1 July 1969
Avenue Roi Albert 5
5300 Andenne
Active since 2 January 1979
Rue de l'Industrie - HALANZY 1B
6792 Aubange
Active since 1 July 1960
Rue de Beaumont 376
6030 Charleroi
Active since 1 July 1969
Rue d'Arlon 188
6780 Messancy
Active since 1 December 1959
Chaussée Brunehault(CAR) 415
7141 Morlanwelz
Active since 1 March 1962
Rue Oscar Quertinmont(TRI) 53
7100 La Louvière
Active since 1 March 1962
Rue de l'Ange 41
5000 Namur
Active since 1 May 1962
Place Verte 13
5620 Florennes
Active since 1 January 1964
Rue de Gozée 349
6110 Montigny-le-Tilleul
Active since 1 October 1968
Chaussée Freddy Terwagne(Herm) 114
4480 Engis
Active since 2 January 1980
Rue de Rotheux 52
4100 Seraing
Active since 2 January 1993
Rue Marcel-Lespagne, H.-Lavaux 25
5540 Hastière
Active since 2 January 2003
Rue Belvaux 20
4030 Liège
Active since 2 November 1979
Rue du Commerce 121
5590 Ciney
Active since 1 December 2001
Rue Grande 6
6927 Tellin
Active since 2 January 2001
Li.,Rue de la Gare(R. Chanteroy) 15
6800 Libramont-Chevigny
Active since 1 September 1999
Avenue du Centenaire 54
6061 Charleroi
Active since 1 June 1999
Rue Abbé-Dujardin 8
5520 Onhaye
Active since 4 January 1999
Rue Emile Henricot 50
1490 Court-Saint-Etienne
Active since 2 November 1998
Rue de la Semois,Vance 176
6741 Etalle
Active since 1 February 2000
Avenue Schlogel 117B
5590 Ciney
Active since 1 April 1997
Route de Hannut(BU) 14
5004 Namur
Active since 1 June 1996
Victor Allardstraat 118
1180 Ukkel
Active since 1 March 1989
Chaussée de Liège 55A
5360 Hamois
Active since 1 October 1980
Avenue des Ardennes 1/06
4500 Huy
Active since 1 October 1980
Rue La Couvinoise 5
5660 Couvin
Active since 1 July 1985
Rue Albert 1er,Pin 32
6810 Chiny
Active since 1 December 1987
Avenue Cardinal Mercier 6
5000 Namur
Active since 1 June 1996
Chaussée de Tirlemont(ANT) 23
4520 Wanze
Active since 1 July 1988
Rue de Bruxelles 10 box E
4340 Awans
Active since 2 January 1995
Route de Spa(ME) 23
5372 Havelange
Active since 1 August 1990
Rue de la Gendarmerie 61
4560 Clavier
Active since 3 January 1991
Rue Joseph Wauters 47
4300 Waremme
Active since 1 August 1991
Place Alphonse Favresse 83
1310 La Hulpe
Active since 1 January 2006
Rue de l'Institut 1
1330 Rixensart
Active since 1 January 2006
Aatsesteenweg 32
7850 Enghien
Active since 1 January 2006
Avenue de Merode 29
1330 Rixensart
Active since 1 January 2006
Rue de Bouillon 7
5570 Beauraing
Active since 1 January 2006
Rue de Rhisnes, Emines 9
5080 La Bruyère
Active since 7 January 2008
Rue Sur Haies 4
4557 Tinlot
Active since 9 June 2008
Rue Defuisseaux(T) 125
7333 Saint-Ghislain
Active since 1 April 2011
Chaussée de Marche(WD) 951
5100 Namur
Active since 6 August 2012
Chaussée de Charleroi(ML) 801
5020 Namur
Active since 1 September 2012
Chaussée de Louvain(BU) 456
5004 Namur
Active since 1 January 2014
Rue Pansy 320
4420 Saint-Nicolas
Active since 1 July 2014
Rue Joseph Wauters 2
4500 Huy
Active since 25 November 2017
Rue Bois Sainte Marie(AUV) 77
5060 Sambreville
Active since 9 January 2019
Rue des Clairisses(TOU) 2
7500 Tournai
Active since 1 October 2019
Place Henri Hallet 54
4280 Hannut
Active since 2 January 2020
Chaussée de Charleroi 193
5030 Gembloux
Active since 23 November 2020
Rue Saint-Eleuthère(TOU) 32 box a
7500 Tournai
Active since 1 January 2021
Chaussée de Charleroi(FL) 152
6220 Fleurus
Active since 25 March 2021
Rue du Bierchamps 111
6001 Charleroi
Active since 1 May 2021
Chaussée de Bruxelles 676
1410 Waterloo
Active since 1 January 2022
Av. Dr-Gaston-Therasse, Godinne 1
5530 Yvoir
Active since 1 December 2021
Avenue Arsène Tournay 24
1495 Villers-la-Ville
Active since 1 February 2022
Chaussée de Marche(NN) 856
5100 Namur
Active since 1 January 2023
Place du Père Bruno Reynders 16
1340 Ottignies-Louvain-la-Neuve
Active since 1 December 2025
Rue La Ringe,Alle 33
5550 Vresse-sur-Semois
Active since 1 January 2026
Place de la Station 17
5000 Namur
Active since 1 February 2026
Waterloosesteenweg 1499
1180 Ukkel
Active since 1 February 2026
Rue de Dampremy 89
6040 Charleroi
Active since 1 April 2023
Rue des Champs de Tignée 20
4671 Blégny
Active since 26 June 2023
Avenue Eugène Mascaux 725
6001 Charleroi
Active since 1 March 2025
Rue du Moulin 101
4020 Liège
Active since 1 January 2025
Avenue de la Croix-Rouge -
4020 Liège
Active since 1 January 2025
Rue de Thuin(GOZ) 28
6534 Thuin
Active since 1 July 2026
Rue de la Station 2647
1360 Perwez
Active since 1 May 2026
Place du Centre(NAL) 3
6120 Ham-sur-Heure-Nalinnes
Active since 1 May 2026
Waverse steenweg 1461
1160 Oudergem
Active since 1 June 2026
Rue Neuve(GER) 29
6280 Gerpinnes
Active since 1 May 2026
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 18 companies are registered at this address.
All companies at this address →Familia Real Estate same network
Respectable Vehicle Collectors Club
Pharmacie de la Semois
€ 261,046 gross margin · 2025
PHARMACIE SANTIS DES CORETTES same network
€ 288,944 gross margin · 2025
PHARMACIE P. BASTIN same network
+13 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0401.388.176
- VAT number
- BE 0401.388.176
- Registered office
- Rue Edouard Dinot 32, 5590 Ciney
- Names & denominations
- L'Economie Populaire · E.P.C.
- Enterprise type
- Rechtspersoon
- Legal form
- Cooperative company
- Legal situation
- Normale toestand
- Start date
- 7 May 1919
- Peppol
- Active · Active since 17 Sept 2025
- Activities · NACE
Apothekers
Detailhandel in farmaceutische producten
Groothandel in farmaceutische en medische artikelen