Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2023 and 2025.
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Tight liquidity NBB
Cash and receivables cover 9 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Copains distribution from Courcelles, company number BE0441517472, closed financial year 2025 with a result of € -314,745 after tax. For that financial year Copains distribution recorded a gross margin of € 191,650 and equity of € -876,010. Compared with financial year 2023, the result moved from € -179,722 to € -314,745. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on May 12, 2026.
€ -876,010
▼ € 760,231 vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -314,745
▼ 75 % more loss than in 2023
Profit after tax over the fiscal year.
€ 80,996
▼ 27% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -896,461.
People and assets in 2025
10.2
Average over the fiscal year, from the social balance sheet.
€ 357,712
▲ 17% vs 2023
€ 35,100 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.
€ 8,319
▲ € 7,642 vs 2023
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 252,615
▲ 65% vs 2023
€ 50,496 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 1 million
▲ 203% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 87,936
▲ 49% vs 2023
Taxes, VAT and social contributions still to pay.
| 2021 | 2022 | 2023 | 2025 | Change 2023 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 369,958 | € 398,052 | € 177,963 | € 191,650 | ▲ 8% |
| Profit after taxes | € 13,009 | € 8,195 | € -179,722 | € -314,745 | ▼ € 135,023 |
| Equity | € 55,748 | € 63,943 | € -115,779 | € -876,010 | ▼ € 760,231 |
| Total debts | € 241,908 | € 288,459 | € 574,401 | € 1,347,492 | ▲ 135% |
| Cash | € 62,329 | € 64,680 | € 110,238 | € 80,996 | ▼ 27% |
| Land & buildings | € 14,252 | € 4,956 | € 140,076 | € 199,513 | ▲ 42% |
| Retained profit | € 37,156 | € 45,351 | € -134,371 | € -896,461 | ▼ € 762,090 |
| Bank debt | € 72,027 | € 19,483 | € 153,049 | € 252,615 | ▲ 65% |
| Balance sheet total | € 297,656 | € 352,402 | € 458,622 | € 471,482 | ▲ 3% |
| Employees (FTE) | 13.2 | 12.3 | - | 10.2 |
Key figures of Copains distribution, fiscal years 2021 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 Copains distribution?
What happened at Copains distribution in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 314,745. Source: NBB ↗
- Frédéric Van Pol stepped down as director. NBB
- New establishment in Villers-la-Ville. KBO
- New establishment in Montigny-le-Tilleul. KBO
- Jonathan de Cartier became a director. NBB
- Copains.group SRL became a director. NBB
- Frédéric Van Pol became a director. NBB
- New establishment in Châtelet. KBO
In short
From € 13,009 profit in 2021 to € 314,745 loss in 2025.
Paid € 11,914 in corporate taxes since 2021.
Best year ever: 2021, with € 13,009 profit.
On average € 18,800 of value added per employee in 2025.
Management
The stake of Copains.group comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Copains distributionBehind Copains distribution are Jonathan de Cartier and Copains.group SRL. The shares are held by Copains.group (100%).
Directors
According to the 2025 annual accounts
Jonathan de Cartier
Managing director
Also active at: Copains Namur, Copains Boulangerie, Soixante Cinq Degrés, Copains.group, Park Slope
since 2023
Director · represented by Olivier de Cartier
Also active at: Copains Namur, COPAINS, WAGRALIM
since 2023
Frédéric Van Pol
Managing director
Also active at: Copains Namur, MYSTRAL, Copains Boulangerie, Copains.group
since 2023 · until 2025
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue Philippe Monnoyer(CO) 108
6180 Courcelles
Faubourg de Bruxelles 36
6041 Charleroi
Active since 8 December 2000
Rue Jules des Essarts 65
6200 Châtelet
Active since 1 November 2017
Avenue Arsène Tournay 22
1495 Villers-la-Ville
Active since 6 July 2024
Rue de Landelies 23
6110 Montigny-le-Tilleul
Active since 6 July 2024
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0441.517.472
- VAT number
- BE 0441.517.472
- Registered office
- Rue Philippe Monnoyer(CO) 108, 6180 Courcelles
- Names & denominations
- Copains distribution
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 18 July 1990
- Peppol
- Active · Active since 23 Oct 2025
- Activities · NACE
Detailhandel in brood en banketbakkerswerk (koude bakkers)
Detailhandel in brood-, banketbakkerswerk en suikerwerk
Fastfoodzaken, snackbars, frituren en dergelijke
Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden
Eetgelegenheden met beperkte bediening