ACTIVE

POPPIES BAKERIES COMINES

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Financial year 2025 · closed on 31/12/2025

Net result

878,9 k €

+8.5% YoY

Revenue

49,7 M €

+30.5% YoY

Equity

9,2 M €

-34.5% YoY

Workforce

128,5 ETP

+20.9% YoY

What does POPPIES BAKERIES COMINES do?

POPPIES BAKERIES COMINES is a Public limited company incorporated in 1994. Its main activity is: Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes. Its registered office is in Comines-Warneton. It employs on average 128,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0453.486.282

Incorporation

26/09/1994

Legal form

Public limited company

Registered office

Rue des Rubaniers(COM) 1
7780 Comines-Warneton · Wallonie

Contributed capital

248 000,00 €

Latest accounts

31/12/2025

Average workforce

128,5 ETP

Activities (NACE)

10720Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes· main 10720Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes 15820Manufacture of leather and related products

Joint committees (4)

118
11805
220
22000

Contacts

2 public details availableLog in to view

Signals

ProfitableSolid equityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	49,7 M €	+30.5%	38,1 M €	+2.4%	37,2 M €	+5.8%	35,2 M €	+26.8%	27,7 M €	-17.4%	33,6 M €	+10.5%	30,4 M €	+4.6%	29,1 M €	+2.7%	28,3 M €	+2.2%	27,7 M €	+2.3%	27,1 M €	+16.4%	23,3 M €	-0.1%	23,3 M €	+12.2%	20,8 M €	-0.6%	20,9 M €	-1.1%	21,1 M €	+15.2%	18,3 M €	+13.0%	16,2 M €
EBITDA	3,4 M €	+121%	1,6 M €	-39.8%	2,6 M €	-0.3%	2,6 M €	+12.8%	2,3 M €	-40.8%	3,9 M €	+16.0%	3,3 M €	-6.3%	3,6 M €	+2.1%	3,5 M €	-8.5%	3,8 M €	+15.5%	3,3 M €	+179%	1,2 M €	+15.1%	1 M €	-51.8%	2,1 M €	+160%	823,3 k €	-9.2%	906,8 k €	+15.3%	786,3 k €	+51.7%	518,3 k €
Operating result	1,3 M €	+44.0%	922,6 k €	-52.4%	1,9 M €	+5.4%	1,8 M €	+6.2%	1,7 M €	-46.5%	3,2 M €	+31.9%	2,5 M €	-11.9%	2,8 M €	+9.8%	2,5 M €	-7.2%	2,7 M €	+25.1%	2,2 M €	+1623%	126,8 k €	+47.2%	86,1 k €	-92.1%	1,1 M €	+1815%	56,8 k €	-67.0%	172 k €	+95.1%	88,2 k €	+8.4%	81,3 k €
Net result	878,9 k €	+8.5%	809,7 k €	-51.2%	1,7 M €	+24.8%	1,3 M €	-12.0%	1,5 M €	-34.8%	2,3 M €	+30.3%	1,8 M €	-6.0%	1,9 M €	+10.8%	1,7 M €	-12.2%	1,9 M €	+32.2%	1,5 M €	+409%	288,5 k €	+308%	70,7 k €	-90.2%	723,5 k €	+413%	140,9 k €	-31.5%	205,7 k €	+202%	68 k €	-73.4%	255,9 k €
Balance sheet
Equity	9,2 M €	-34.5%	14,1 M €	+6.1%	13,3 M €	+14.2%	11,6 M €	+6.7%	10,9 M €	+5.3%	10,4 M €	+17.1%	8,8 M €	+25.1%	7,1 M €	+36.5%	5,2 M €	+49.1%	3,5 M €	+1.2%	3,4 M €	+15.8%	3 M €	+10.8%	2,7 M €	+2.7%	2,6 M €	+38.4%	1,9 M €	+8.1%	1,7 M €	+13.4%	1,5 M €	-5.1%	1,6 M €
Total assets	24,6 M €	+27.1%	19,4 M €	-1.6%	19,7 M €	+8.9%	18,1 M €	-16.5%	21,6 M €	+58.4%	13,7 M €	+11.8%	12,2 M €	+21.4%	10,1 M €	-1.1%	10,2 M €	-3.2%	10,5 M €	+8.0%	9,7 M €	+17.2%	8,3 M €	+3.5%	8 M €	+0.4%	8 M €	+34.8%	5,9 M €	+19.2%	5 M €	-11.6%	5,6 M €	-6.8%	6 M €
Cash	1 k €	0.0%	1 k €	0.0%	1 k €	-84.9%	6,7 k €	+25.7%	5,3 k €	+53.1%	3,5 k €	-23.4%	4,5 k €	-1.7%	4,6 k €	-93.5%	70,8 k €	+13.8%	62,2 k €	+38.9%	44,8 k €	+7.9%	41,5 k €	-52.3%	87 k €	+17.2%	74,3 k €	+305%	18,3 k €	-93.8%	296 k €	+2831%	10,1 k €	-38.3%	16,4 k €
Debts	15,3 M €	+200%	5,1 M €	-16.9%	6,1 M €	+1.1%	6,1 M €	-40.5%	10,2 M €	+213%	3,3 M €	-1.8%	3,3 M €	+13.3%	2,9 M €	-40.3%	4,9 M €	-29.4%	7 M €	+12.1%	6,2 M €	+18.6%	5,2 M €	+0.2%	5,2 M €	-0.5%	5,2 M €	+34.9%	3,9 M €	+28.1%	3 M €	-21.2%	3,9 M €	-6.9%	4,1 M €
Other
Workforce	128,5 ETP	+20.9%	106,3 ETP	+4.3%	101,9 ETP	+2.4%	99,5 ETP	-2.9%	102,5 ETP	-13.6%	118,7 ETP	+6.0%	112,0 ETP	+4.2%	107,5 ETP	-0.9%	108,5 ETP	+0.7%	107,7 ETP	+3.4%	104,2 ETP	+3.7%	100,5 ETP	-6.3%	107,3 ETP	+2.0%	105,2 ETP	+1.9%	103,2 ETP	-0.1%	103,3 ETP	+6.1%	97,4 ETP	+10.8%	87,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 24 ended

Active mandates

Antony Popelier

Managing director · since 24 décembre 2021 · until 19 juin 2027

Active

Filip Commeine

Director · since 24 décembre 2021 · until 19 juin 2027

Active

Frans Castelein

Director · since 24 décembre 2021 · until 19 juin 2027

Active

Patrick Reekmans Consulting

Director · since 24 décembre 2021 · until 20 juin 2026 · 0688.934.481

Represented by Patrick Reekmans

Active

Ended mandates

Patrick Reekmans Consulting

Director · since 24 décembre 2021 · until 19 juin 2027 · 0688.934.481

Represented by Patrick REEKMANS

Ended

Frans CASTELEIN

Managing director · since 25 août 2009

Ended

Antony Popelier

Managing director · until 01 juin 2027

Ended

Antony POPELIER

Director

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	25/06/2026	07/07/2025	11/07/2024	05/07/2023	06/07/2022	30/08/2021
General meeting	20/06/2026	21/06/2025	29/06/2024	30/06/2023	30/06/2022	23/08/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	20/06/2026	25/06/2026	French	PDF
Full model	31/12/2024	21/06/2025	07/07/2025	French	PDF
Full model	31/12/2023	29/06/2024	11/07/2024	French	PDF
Full model	31/12/2022	30/06/2023	05/07/2023	French	PDF
Full model	31/12/2021	30/06/2022	06/07/2022	French	PDF
Full modelCorrection	31/12/2020	23/08/2021	30/08/2021	French	PDF
Full model	31/12/2020	28/06/2021	06/07/2021	French	PDF
Full model	31/12/2019	15/07/2020	16/07/2020	French	PDF
Full model	31/12/2018	28/06/2019	17/07/2019	French	PDF
Full model	31/12/2017	28/06/2018	18/07/2018	French	PDF
Full model	31/12/2016	29/06/2017	07/07/2017	French	PDF
Full model	31/12/2015	29/06/2016	18/07/2016	French	PDF
Full model	31/12/2014	30/06/2015	09/07/2015	French	PDF
Full model	31/12/2013	30/06/2014	08/07/2014	French	PDF
Full model	31/12/2012	28/06/2013	12/07/2013	French	PDF
Full model	31/12/2011	29/06/2012	05/07/2012	French	PDF
Full model	31/12/2010	15/06/2011	19/07/2011	French	PDF
Full model	31/12/2009	15/06/2010	16/07/2010	French	PDF
Full model	31/12/2008	15/06/2009	02/07/2009	French	PDF
Full model	31/12/2007	15/06/2008	15/07/2008	French	PDF
Full model	31/12/2006	15/06/2007	28/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 24 ended

Active mandates

Antony Popelier

Managing director · since 24 décembre 2021 · until 19 juin 2027

Active

Filip Commeine

Director · since 24 décembre 2021 · until 19 juin 2027

Active

Frans Castelein

Director · since 24 décembre 2021 · until 19 juin 2027

Active

Patrick Reekmans Consulting

Director · since 24 décembre 2021 · until 20 juin 2026 · 0688.934.481

Represented by Patrick Reekmans

Active

Ended mandates

Patrick Reekmans Consulting

Director · since 24 décembre 2021 · until 19 juin 2027 · 0688.934.481

Represented by Patrick REEKMANS

Ended

Frans CASTELEIN

Managing director · since 25 août 2009

Ended

Antony Popelier

Managing director · until 01 juin 2027

Ended

Antony POPELIER

Director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/07/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates12/01/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates06/01/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DENOMINATION - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates23/10/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates04/11/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates15/12/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates02/12/2014
DEMISSIONS, NOMINATIONS
PDF
Mandates18/11/2013
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025878,9 k €↑
2024
Annual accounts 2024809,7 k €↓
2023
Annual accounts 20231,7 M €↑
2022
Annual accounts 20221,3 M €↓
2021
Annual accounts 20211,5 M €↓
2021
Name changePOPPIES BAKERIES COMINES
2018
Annual accounts 20182,3 M €↑
2017
Annual accounts 20171,8 M €↓
2016
Annual accounts 20161,9 M €↑
2015
Annual accounts 20151,7 M €↓
2014
Annual accounts 20141,9 M €↑
2013
Annual accounts 20131,5 M €↑
2012
Annual accounts 2012288,5 k €↑
2011
Annual accounts 201170,7 k €↓
2010
Annual accounts 2010723,5 k €↑
2009
Annual accounts 2009140,9 k €↓
2008
Annual accounts 2008205,7 k €↑
2007
Annual accounts 200768 k €↓
2006
Annual accounts 2006255,9 k €
2006
Name changeDELICES DE COMINES
26/09/1994
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

POPPIES BAKERIES COMINES

Overview

What does POPPIES BAKERIES COMINES do?

Trend over 18 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline