ACTIVE

CoPain

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Financial year 2025 · closed on 31/12/2025

Net result

-4,6 k €

-112.7% YoY

Gross margin

389,1 k €

+5.3% YoY

Equity

167,8 k €

-2.7% YoY

What does CoPain do?

CoPain is a Cooperative society incorporated in 2016. Its main activity is: Manufacture of bread; manufacture of fresh pastry goods and cakes. Its registered office is in Gent.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0654.913.811

Incorporation

23/05/2016

Legal form

Cooperative society

Registered office

Dok-Zuid 22
9000 Gent · FlandreSee on map

Contributed capital

68 685,00 €

Latest accounts

31/12/2025

Activities (NACE)

10712Manufacture of bread; manufacture of fresh pastry goods and cakes· main 10712Manufacture of bread; manufacture of fresh pastry goods and cakes 47210Retail sale of fruit and vegetables in specialised stores 47242Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores 47242Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores 47252Retail sale of beverages in specialised stores+6

Joint committees (2)

Signals

Solid equityLow riskPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 9 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017
Income statement
Gross margin	389,1 k €	+5.3%	369,7 k €	+12.6%	328,4 k €	+33.2%	246,5 k €	+5.6%	233,4 k €	-3.2%	241,1 k €	+38.2%	174,5 k €	+26.6%	137,9 k €	+24.6%	110,6 k €
EBITDA	24,1 k €	-68.2%	75,9 k €	+30.6%	58,1 k €	-6.0%	61,8 k €	+2.6%	60,2 k €	-32.9%	89,7 k €	+66.7%	53,8 k €	+33.5%	40,3 k €	+107%	19,5 k €
Operating result	3,1 k €	-94.6%	56,9 k €	+70.6%	33,3 k €	+2.9%	32,4 k €	+6.5%	30,4 k €	-50.5%	61,5 k €	+151%	24,5 k €	+109%	11,8 k €	+7.4%	10,9 k €
Net result	-4,6 k €	-113%	36,5 k €	+75.9%	20,8 k €	+7.2%	19,4 k €	+4.3%	18,6 k €	-57.6%	43,8 k €	+178%	15,8 k €	+190%	5,4 k €	-17.5%	6,6 k €
Balance sheet
Equity	167,8 k €	-2.7%	172,4 k €	-0.1%	172,6 k €	-1.8%	175,7 k €	-13.9%	204,1 k €	+1.4%	201,3 k €	+27.8%	157,5 k €	+11.1%	141,7 k €	+93.9%	73,1 k €
Total assets	395,7 k €	+9.2%	362,4 k €	-5.3%	382,9 k €	-3.8%	397,9 k €	-7.2%	428,9 k €	-3.8%	446 k €	+12.1%	397,8 k €	+2.9%	386,8 k €	+239%	114,1 k €
Cash	59,5 k €	+78.7%	33,3 k €	-2.2%	34,1 k €	+56.8%	21,7 k €	-28.9%	30,6 k €	+47.3%	20,7 k €	-1.6%	21,1 k €	-43.4%	37,3 k €	-53.1%	79,6 k €
Debts	216,1 k €	+19.1%	181,5 k €	-11.1%	204,1 k €	-8.1%	222,1 k €	-1.2%	224,8 k €	-8.1%	244,7 k €	+1.9%	240,3 k €	-1.9%	245 k €	+498%	41 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 11 ended

Active mandates

Dieter De Smedt

Director · since 10 juin 2023

Active

Folkert Van Kerckhove

Director · since 19 juin 2021

Active

Margaux Claeys

Director · since 15 avril 2018

Active

Adriaan Druwé

Director · since 23 mai 2016

Active

Ended mandates

Siel De Ridder

Director · since 19 juin 2021 · until 29 juin 2022

Ended

Siel De Ridder

Director · since 19 juin 2021

Ended

Pieter Van Poucke

Director · since 26 avril 2020 · until 19 juin 2021

Ended

Pieter Van Poucke

Director · since 26 avril 2020

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	19/06/2026	20/06/2025	05/06/2024	27/07/2023	20/06/2022	27/08/2021
General meeting	06/06/2026	07/06/2025	01/06/2024	10/06/2023	11/06/2022	18/06/2021
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

9 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	06/06/2026	19/06/2026	Dutch	PDF
Micro model	31/12/2024	07/06/2025	20/06/2025	Dutch	PDF
Micro model	31/12/2023	01/06/2024	05/06/2024	Dutch	PDF
Micro model	31/12/2022	10/06/2023	27/07/2023	Dutch	PDF
Micro model	31/12/2021	11/06/2022	20/06/2022	Dutch	PDF
Micro model	31/12/2020	18/06/2021	27/08/2021	Dutch	PDF
Micro model	31/12/2019	24/03/2020	27/05/2020	Dutch	PDF
Micro model	31/12/2018	27/04/2019	10/05/2019	Dutch	PDF
Micro model	31/12/2017	27/03/2018	04/05/2018	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

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 · 11 ended

Active mandates

Dieter De Smedt

Director · since 10 juin 2023

Active

Folkert Van Kerckhove

Director · since 19 juin 2021

Active

Margaux Claeys

Director · since 15 avril 2018

Active

Adriaan Druwé

Director · since 23 mai 2016

Active

Ended mandates

Siel De Ridder

Director · since 19 juin 2021 · until 29 juin 2022

Ended

Siel De Ridder

Director · since 19 juin 2021

Ended

Pieter Van Poucke

Director · since 26 avril 2020 · until 19 juin 2021

Ended

Pieter Van Poucke

Director · since 26 avril 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/06/2024
benoeming bestuurder
PDF
Mandates14/07/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates22/11/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/05/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/06/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/02/2017
ONTSLAGEN - BENOEMINGEN
PDF
Other25/05/2016
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025-4,6 k €↓
2024
Annual accounts 202436,5 k €↑
2023
Annual accounts 202320,8 k €↑
2022
Annual accounts 202219,4 k €↑
2021
Annual accounts 202118,6 k €↓
2020
Annual accounts 202043,8 k €↑
2019
Annual accounts 201915,8 k €↑
2018
Annual accounts 20185,4 k €↓
2017
Annual accounts 20176,6 k €
23/05/2016
IncorporationCooperative society

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

CoPain

Overview

What does CoPain do?

Trend over 9 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