COM SERVICE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 12-06-2026 PDF all 21 filings
Turnover
≈ €460,000
Estimated: probably between €260,000 and €760,000
Total assets
€181,503▲ 4.8%
2024 · €173,182
Net result
€19,499
2024 · -€5,204
Working capital
€137,421▲ 14.6%
2024 · €119,958
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€31,071
2025
20182025
Net result
€19,499
2025
middle half of the sector
20182025
Equity
€157,024
▲ 14.2%
2025
highest quarter of the sector
20182025
Total assets
€181,503
▲ 4.8%
2025
middle half of the sector
20182025
Debt
€24,479
▼ 31.3%
2025
20182025
Working capital
€137,421
▲ 14.6%
2025
highest quarter of the sector
20182025
Solvency
86.5%
▲ 7.1pp
2025
highest quarter of the sector
20182025
Current ratio
7.77
▲ 0.49
2025
highest quarter of the sector
20182025
Return on assets (ROA)
10.7%
▲ 13.7pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€17,174-€15,781▼ 8.1%€40,498▲ 157%€33,937▼ 16.2%€28,225▼ 16.8%€19,279▼ 31.7%-€9,717€31,071
Net result€12,181-€11,472▼ 5.8%€31,967above the sector's middle half▲ 179%€22,108within the sector's middle half▼ 30.8%€15,508within the sector's middle half▼ 29.9%€11,543within the sector's middle half▼ 25.6%-€5,204below the sector's middle half€19,499within the sector's middle half
Equity€50,130-€61,603▲ 22.9%€93,570within the sector's middle half▲ 51.9%€115,678within the sector's middle half▲ 23.6%€131,186above the sector's middle half▲ 13.4%€142,729above the sector's middle half▲ 8.8%€137,526above the sector's middle half▼ 3.6%€157,024above the sector's middle half▲ 14.2%
Total assets€91,186-€116,657▲ 27.9%€145,582within the sector's middle half▲ 24.8%€140,230within the sector's middle half▼ 3.7%€214,723within the sector's middle half▲ 53.1%€212,143within the sector's middle half▼ 1.2%€173,182within the sector's middle half▼ 18.4%€181,503within the sector's middle half▲ 4.8%
Debt€41,056-€55,054▲ 34.1%€52,012▼ 5.5%€24,553▼ 52.8%€83,537▲ 240%€69,414▼ 16.9%€35,656▼ 48.6%€24,479▼ 31.3%
Working capital€48,236-€53,249▲ 10.4%€78,271within the sector's middle half▲ 47.0%€98,755above the sector's middle half▲ 26.2%€100,765above the sector's middle half▲ 2.0%€120,348above the sector's middle half▲ 19.4%€119,958above the sector's middle half▼ 0.3%€137,421above the sector's middle half▲ 14.6%
Solvency55.0%-52.8%▼ 2.2pp64.3%above the sector's middle half▲ 11.5pp82.5%above the sector's middle half▲ 18.2pp61.1%above the sector's middle half▼ 21.4pp67.3%above the sector's middle half▲ 6.2pp79.4%above the sector's middle half▲ 12.1pp86.5%above the sector's middle half▲ 7.1pp
Current ratio2.91-2.20▼ 0.722.67within the sector's middle half▲ 0.475.02above the sector's middle half▲ 2.353.35above the sector's middle half▼ 1.673.96above the sector's middle half▲ 0.617.28above the sector's middle half▲ 3.327.77above the sector's middle half▲ 0.49
Return on assets (ROA)13.4%-9.8%▼ 3.5pp22.0%above the sector's middle half▲ 12.1pp15.8%above the sector's middle half▼ 6.2pp7.2%within the sector's middle half▼ 8.5pp5.4%within the sector's middle half▼ 1.8pp-3.0%within the sector's middle half▼ 8.4pp10.7%within the sector's middle half▲ 13.7pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a profit of €31,071, after a loss of €9,717 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €181,503
Fixed assets
€23,781 ▼ 30.3%
Current assets
€157,722 ▲ 13.4%
Equity and liabilities €181,503
Equity
€157,024 ▲ 14.2%
Debt
€24,479 ▼ 31.3%
Debt's share of the balance-sheet total falls from 20.6% to 13.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€47,029▲
2024 · €7,244
Cash flow
€35,457▲
2024 · €11,757
Quick ratio
4.04▲
2024 · 3.22
Debt to equity
0.16▼
2024 · 0.26
ROE
12.4%▲
2024 · -3.8%
Interest coverage
76.94▲
2024 · 6.52
Debt ≤ 1 year
€20,301▲
2024 · €19,101
Debt > 1 year
€4,178▼
2024 · €16,555
Income taxes
€11,223▲
2024 · €276
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €10,045 | €69,800 | - | - | €4,429 |
| Intangible fixed assets | - | - | - | - | €1,188 |
| Depreciation and write-downs of the year | €11,765 | €15,680 | €19,961 | €16,961 | €15,958 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €221 | €3,734 | €121 | €369 | €8,482 | ▲ 23× |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,706 | €8,070 | €8,480 | €11,765 | €15,680 | €19,961 | €16,961 | €15,958 | ▼ 5.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | -€248 | - | -€722 | - |
| Other operating charges640/8 | - | - | - | €1,546 | €1,108 | €3,495 | €2,100 | €3,403 | ▲ 62.0% |
| Gross operating margin9900 | €24,658 | €25,843 | €51,400 | €47,249 | €45,013 | €42,487 | €9,344 | €49,710 | ▲ 432% |
| Operating profit (loss)9901 | €17,174 | €15,781 | €40,498 | €33,937 | €28,225 | €19,279 | -€9,717 | €31,071 | - |
| Financial income75/76B | - | - | - | €7 | €168 | €641 | €5,900 | €262 | ▼ 95.6% |
| Recurring financial income75 | €46 | €146 | €0 | €7 | €168 | €1 | €25 | €262 | ▲ 967% |
| Non-recurring financial income76B | - | - | - | - | - | €640 | €5,876 | - | - |
| Financial charges65/66B | - | - | - | €509 | €1,378 | €1,085 | €1,111 | €611 | ▼ 45.0% |
| Recurring financial charges65 | €699 | €597 | €586 | €509 | €1,378 | €1,085 | €1,111 | €611 | ▼ 45.0% |
| Profit (loss) for the period before taxes9903 | €16,520 | €15,330 | €41,209 | €33,435 | €27,015 | €18,835 | -€4,928 | €30,721 | - |
| Income taxes67/77 | €4,340 | €3,857 | €9,242 | €11,327 | €11,507 | €7,292 | €276 | €11,223 | ▲ 41× |
| Profit (loss) for the period9904 | €12,181 | €11,472 | €31,967 | €22,108 | €15,508 | €11,543 | -€5,204 | €19,499 | - |
| Profit (loss) for the period to be appropriated9905 | €12,181 | €11,472 | €31,967 | €22,108 | €15,508 | €11,543 | -€5,204 | €19,499 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €91,186 | €116,657 | €145,582 | €140,230 | €214,723 | €212,143 | €173,182 | €181,503 | ▲ 4.8% |
| Fixed assets21/28 | €17,705 | €18,858 | €20,378 | €16,923 | €71,044 | €51,083 | €34,123 | €23,781 | ▼ 30.3% |
| Intangible fixed assets21 | - | - | - | - | - | - | - | €1,170 | - |
| Tangible fixed assets22/27 | €17,705 | €18,858 | €20,378 | €16,923 | €71,044 | €51,083 | €34,123 | €22,611 | ▼ 33.7% |
| Plant, machinery and equipment23 | - | - | - | €758 | €379 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €15,337 | €65,351 | €46,966 | €31,203 | €18,112 | ▼ 42.0% |
| Other tangible fixed assets26 | - | - | - | €829 | €5,314 | €4,117 | €2,920 | €4,499 | ▲ 54.1% |
| Current assets29/58 | €73,481 | €97,799 | €125,203 | €123,307 | €143,679 | €161,059 | €139,059 | €157,722 | ▲ 13.4% |
| Stocks and contracts in progress3 | €44,710 | €44,214 | €46,332 | €61,807 | €92,443 | €84,166 | €77,543 | €75,660 | ▼ 2.4% |
| Stocks30/36 | - | - | - | €61,807 | €92,443 | €84,166 | €77,543 | €75,660 | ▼ 2.4% |
| Amounts receivable within one year40/41 | €4,768 | €12,421 | €8,463 | €13,762 | €13,727 | €14,179 | €21,793 | €39,504 | ▲ 81.3% |
| Trade receivables40 | - | - | - | €6,341 | €8,263 | €8,557 | €6,448 | €13,833 | ▲ 115% |
| Other amounts receivable41 | - | - | - | €7,421 | €5,463 | €5,622 | €15,344 | €25,671 | ▲ 67.3% |
| Cash at bank and in hand54/58 | €23,697 | €40,848 | €68,787 | €47,395 | €37,021 | €62,194 | €37,374 | €42,557 | ▲ 13.9% |
| Deferred charges and accrued income490/1 | - | - | - | €343 | €488 | €520 | €2,350 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €91,186 | €116,657 | €145,582 | €140,230 | €214,723 | €212,143 | €173,182 | €181,503 | ▲ 4.8% |
| Equity10/15 | €50,130 | €61,603 | €93,570 | €115,678 | €131,186 | €142,729 | €137,526 | €157,024 | ▲ 14.2% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €30,130 | €41,603 | €73,570 | €95,678 | €111,186 | €122,729 | €117,526 | €137,024 | ▲ 16.6% |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Tax-exempt reserves132 | - | - | - | €9,750 | €9,750 | €9,750 | €9,750 | €9,750 | = |
| Distributable reserves133 | - | - | - | €83,928 | €99,436 | €110,979 | €105,776 | €125,274 | ▲ 18.4% |
| Amounts payable17/49 | €41,056 | €55,054 | €52,012 | €24,553 | €83,537 | €69,414 | €35,656 | €24,479 | ▼ 31.3% |
| Amounts payable after more than one year17 | €15,811 | €10,504 | €5,079 | - | €40,623 | €28,702 | €16,555 | €4,178 | ▼ 74.8% |
| Financial debts170/4 | - | - | - | - | €40,623 | €28,702 | €16,555 | €4,178 | ▼ 74.8% |
| Amounts payable within one year42/48 | €25,245 | €44,551 | €46,933 | €24,553 | €42,914 | €40,712 | €19,101 | €20,301 | ▲ 6.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €15,079 | €11,699 | €21,921 | €12,147 | €12,377 | ▲ 1.9% |
| Trade debts44 | €13,669 | €28,737 | €29,979 | €6,002 | €18,278 | €15,913 | €2,980 | - | - |
| Suppliers440/4 | - | - | - | €6,002 | €18,278 | €15,913 | €2,980 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €3,471 | €12,937 | €2,878 | €3,974 | €7,924 | ▲ 99.4% |
| Taxes450/3 | - | - | - | €3,471 | €12,937 | €2,878 | €3,974 | €6,606 | ▲ 66.2% |
| Remuneration and social security454/9 | - | - | - | - | - | - | - | €1,318 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,181 | €11,472 | €31,967 | €22,108 | €15,508 | €11,543 | -€5,204 | €19,499 | - |
| + Depreciation and write-downs630 | €5,706 | €8,070 | €8,480 | €11,765 | €15,680 | €19,961 | €16,961 | €15,958 | ▼ 5.9% |
| Operating cash flow (approximation) | €17,886 | €19,542 | €40,447 | €33,873 | €31,188 | €31,504 | €11,757 | €35,457 | ▲ 202% |
| Investment in fixed assets (approximation) | - | -€9,222 | -€10,000 | -€8,310 | -€69,800 | €0 | €0 | -€5,617 | - |
| Change in cash | - | €17,151 | €27,939 | -€21,392 | -€10,374 | €25,174 | -€24,821 | €5,184 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as COM SERVICE has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of COM SERVICE itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for COM SERVICE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 12-06-2026 | 2026-00156112 | |
| 31-12-2024 | micro format | 25-06-2025 | 2025-00174367 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00402276 | |
| 31-12-2022 | micro format | 12-06-2023 | 2023-00118979 | |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20203634 | |
| 31-12-2020 | micro format | 06-07-2021 | 2021-31500305 | |
| 31-12-2019 | micro format | 05-06-2020 | 2020-14600496 | |
| 31-12-2018 | micro format | 04-07-2019 | 2019-27900288 | |
| 31-12-2017 | micro format | 17-07-2018 | 2018-32700531 | |
| 31-12-2016 | micro format | 15-06-2017 | 2017-17200194 |