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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Tight liquidity NBB
Cash and receivables cover 43 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
COA from Tournai, company number BE0809652169, closed financial year 2025 with a result of € 184,798 after tax. For that financial year COA recorded a gross margin of € 262,250 and equity of € 516,589. Compared with financial year 2024, the result moved from € 139,872 to € 184,798. Profitable, and profit is growing. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 15, 2026.
€ 516,589
▼ 5% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 184,798
▲ 32% vs 2024
Profit after tax over the fiscal year.
€ 124,661
▲ 39% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 214,229 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
€ 9,531
▼ 71% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 251,900
▼ 22% vs 2024
€ 39,649 is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 7,622
▲ 35% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 48,421
▼ 43% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 209,408 | € 250,758 | € 264,242 | € 262,250 | ▼ 1% |
| Profit after taxes | € 146,760 | € 168,631 | € 139,872 | € 184,798 | ▲ 32% |
| Equity | € 278,041 | € 436,358 | € 546,020 | € 516,589 | ▼ 5% |
| Total debts | € 581,972 | € 493,297 | € 471,801 | € 514,804 | ▲ 9% |
| Cash | € 31,139 | € 151,570 | € 89,468 | € 124,661 | ▲ 39% |
| Land & buildings | € 588,734 | € 556,665 | € 524,597 | € 492,528 | ▼ 6% |
| Retained profit | € 265,641 | € 423,958 | € 533,620 | € 504,189 | ▼ 6% |
| Dividend | € 15,742 | € 10,314 | € 30,211 | € 214,229 | ▲ € 184,018 |
| Bank debt | € 522,678 | € 423,441 | € 324,795 | € 251,900 | ▼ 22% |
| Balance sheet total | € 860,013 | € 929,655 | € 1,017,821 | € 1,031,393 | ▲ 1% |
Key figures of COA, 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 COA?
What happened at COA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 184,798 (▲ 32% vs 2024). Source: NBB ↗
- Start of the company according to the CBE. KBO
- New establishment in Tournai. KBO
- Stéphane DELPIRE became a director. NBB
In short
From € 146,760 profit in 2022 to € 184,798 profit in 2025.
Paid € 236,749 in corporate taxes since 2022.
Best year ever: 2025, with € 184,798 profit.
Paid out € 270,495 in dividends to the owners in total.
Management
Behind COA is Stéphane DELPIRE. It owns 17.7% of THERSA itself.
Directors
According to the 2025 annual accounts
since 2009
Establishments
Establishment units
Physical locations of this company
Rue des Moissons(TOU) 43
7500 Tournai
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0809.652.169
- VAT number
- BE 0809.652.169
- Registered office
- Rue des Moissons(TOU) 43, 7500 Tournai
- Names & denominations
- COA
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 6 February 2009
- Peppol
- Active · Active since 11 Dec 2025
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