Active BE 0450.218.372Public limited company

COFICO MANAGEMENT

Avenue du Bois d'Hennessy 46 ·1310 La Hulpe, Belgium· 33 yrs active

Sector: Market research and public opinion polling (73200)

Conclusion Checked

COFICO MANAGEMENT has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.88M and a net result of €86k. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 95% of 6794 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€5.88M
Net result	€86k
Better than sector	95%
Active	33 yrs

Financial profile 5 of 5 axes measured · computed by Checked

57 / 100

Mixed profile: strong on stability, weaker on profitability.

All 5 axes are computed from data Checked has read.

Health 61

Profitability 7

Solvency 67

Growth 52

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.2% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 1993, 33 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

61 / 100 Healthy

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€360k

estimate, not credit advice

Score history

81 2021

86 2022

51 2023

81 2024

61 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 0.43 (< 1.0) -10

Quick ratio Quick ratio 0.43 (< 0.6) -5

Leverage Debt/equity 0.03 (< 1.0) +10

Profitability ROE 1% +3

Interest coverage Interest coverage 53.2× (≥ 3×) +8

Profit trend Net profit up YoY +5

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview32 NBB filings

Annual accounts filed on 20-03-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

stable Equity: stable across 5 fiscal years (±2.4%/year).

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 73, Advertising, market research and public relations activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	96.7%	54.7%	better than 95% of 6794 sector peers
Net result	€86k	€14k	better than 88% of 6794 sector peers
Equity	€5.88M	€61k	better than 95% of 6799 sector peers
Gross operating margin	€22k	€37k	better than 39% of 6786 sector peers
Total assets	€6.08M	€139k	better than 95% of 6798 sector peers

EBITDA

€10k

+37.5% 21-25

Net profit

€86k

+38.3% 21-25

Cash flow

€104k

+27.7% 21-25

Total assets

€6.08M

+0.9% 21-25

Equity

€5.88M

-1.4% 21-25

Working capital

€-113k

- 21-25

Income taxes

€0

-100.0% 21-25

Dividends

€171k

- 21-25

Debt

€198k

+227.1% 21-25

Debt ≤ 1y

€198k

+227.1% 21-25

Current ratio

0.43

-66.0% 21-25

Quick ratio

0.43

-66.0% 21-25

Solvency

96.7%

-2.3% 21-25

Debt / equity

0.03

+231.9% 21-25

ROE

1.5%

+40.3% 21-25

ROA

1.4%

+37.1% 21-25

Interest coverage

53.19

+21.1% 21-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	micro schema	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-	-
EBITDA	€10k	€7k	€11k	€7k	€13k
Net profit	€86k	€62k	€502k	€153k	€386k
Cash flow	€104k	€82k	€523k	€174k	€406k
Staff costs	-	-	-	-	-
Income taxes	-	€0	€165	€573	€573
Dividends	€171k	€0	€100k	-	€100k
Total assets	€6.08M	€6.02M	€6.02M	€5.56M	€5.48M
Equity	€5.88M	€5.96M	€5.90M	€5.50M	€5.35M
Debt	€198k	€61k	€123k	€60k	€128k
of which ≤ 1y	€198k	€61k	€123k	€60k	€128k
of which > 1y	-	-	-	-	-
Working capital	€-113k	€16k	€-34k	€90k	€24k
Employees (FTE)	-	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	0.43	1.27	0.72	2.50	1.19
Quick ratio	0.43	1.27	0.72	2.50	1.19
Working capital ratio	-1.9%	0.3%	-0.6%	1.6%	0.4%
Solvency	96.7%	99.0%	98.0%	98.9%	97.7%
Debt / equity	0.03	0.01	0.02	0.01	0.02
Long-term debt ratio	-	-	-	-	-
Interest coverage	53.19	43.91	0.83	25.86	54.41
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	1.4%	1.0%	8.3%	2.7%	7.0%
ROE	1.5%	1.0%	8.5%	2.8%	7.2%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €5.99M · 98.6% Current assets €85k · 1.4%

Equity & liabilities

Equity €5.88M · 96.7% Debt €198k · 3.3%

Full annual accounts (23 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€6.08M	€6.02M	€6.02M	€5.56M	€5.48M
Fixed assets	21/28	€5.99M	€5.95M	€5.94M	€5.41M	€5.32M
Tangible fixed assets	22/27	€1.94M	€1.96M	€1.98M	€2.00M	€2.01M
Financial fixed assets	28	€4.05M	€3.99M	€3.96M	€3.41M	€3.31M
Current assets	29/58	€85k	€77k	€89k	€151k	€153k
Amounts receivable within one year	40/41	€49k	€36k	€19k	€59k	€24k
Cash & bank	54/58	€34k	€38k	€69k	€86k	€127k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€6.08M	€6.02M	€6.02M	€5.56M	€5.48M
Equity	10/15	€5.88M	€5.96M	€5.90M	€5.50M	€5.35M
Contributions / capital	10/11	€1.59M	€1.59M	€1.59M	€1.59M	€1.59M
Reserves	13	€140k	€140k	€140k	€115k	€115k
Accumulated profits (losses)	14	€3.75M	€3.83M	€3.77M	€3.39M	€3.24M
Amounts payable	17/49	€198k	€61k	€123k	€60k	€128k
Amounts payable within one year	42/48	€198k	€61k	€123k	€60k	€128k
Trade debts payable within one year	44	€5k	€5k	€756	-	€1k
Income statement
Gross operating margin	9900	€22k	€21k	€21k	€18k	€16k
Operating result	9901	€-9k	€-12k	€-10k	€-14k	€-8k
Financial income	75	€95k	€58k	€509k	€201k	€394k
Financial charges	65	€183	€161	€13k	€281	€235
Result before taxes	9903	€86k	€62k	€502k	€153k	€386k
Income taxes	67/77	-	€0	€165	€573	€573
Net result for the period	9904	€86k	€62k	€502k	€153k	€386k
Result to be appropriated	9905	€86k	€62k	€502k	€153k	€386k

Directors & mandates 1 directors

Current directors & mandates

Bruno Coppé
Managing director
State Gazette act 22040591 (29-03-2022)

Current
01-04-2022 → present

Legal Structure

NACE primary	Market research and public opinion polling(73200)
Legal form	Public limited company(014)
Incorporation	13-05-1993
Status	Active
Postal code	1310

Establishment units 1 location

COFICO MANAGEMENT SA

Avenue du Bois d'Hennessy 46, 1310 La HulpeManufacture of basic metals

since 19932.062.526.638

Real-estate footprint Source: CBE × cadastre

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
25050B0021/00N004	Wallonia	2,726 m²	1 · 223 m²	8.8 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 14Financial 3Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 30-04-2027

2026

20-03

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

21-03

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

30-09

Financial Weakest financial yearnet €62k ▼87.6%

Net result drops to €62k, the lowest in the series; recovery starts the following year.

10-04

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

30-09

Financial Highest result since 2021net €502k ▲229%

Net result €502k, the highest in the series.

21-04

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

30-09

Financial Liquidity doublescurrent ratio 2.50

Current ratio from 1.19 to 2.50; short-term debt falls from €128k to €60k.

26-04

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

29-03

State Gazette act Director changes

2021

30-04

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

31-03

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

12-04

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

13-04

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

05-05

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 5 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 7 acts read

We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 4 years ago

2022

29-03-2022 6 directors appointed Director changes

Nicole Coppens, Commissaris
Philippe Léon Coppé, Commissaris
Bruno Coppé, Commissaris
Pascale Coppé, Commissaris
Philippe Yves Coppé, Commissaris
Bruno Coppé, Gedelegeerd bestuurder

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Market research and public opinion polling7320074131

Names & trade names

Legal nameFR

COFICO MANAGEMENT

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