COMARCO
ActiveSummary
COMARCO has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €546,990 and a net result of -€55,997. Equity remains stable across the filed fiscal years (±0% per year). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability8▲+4
Solvency100=
Growth52▲+17
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity ample (current ratio 17.21 against 6.73 in 2024; short-term debt: 1.5% and cash: 0% of total assets), and 12.5% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
87.5%
Return on assets
-9%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€55,997
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
31 d early
2023
50 d early
2022
48 d early
2021
37 d early
2020
31 d early
2019
59 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 40 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€32,187▲ 188%
2019 · €11,171
EBIT margin
-278.2%▼ 6795.0pp
2019 · 6516.8%
Net result
-€55,997▲ 34.1%
2024 · -€84,979
Working capital
€156,121▼ 16.2%
2024 · €186,332
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result-€78,255▲ 12.6%€69,699-€49,512-€92,068▼ 85.9%-€63,333▲ 31.2%
Net result-€92,173▼ 22.6%€106,914€46,919▼ 56.1%-€84,979-€55,997▲ 34.1%
EBIT margin
Equity€534,134▼ 14.7%€641,048▲ 20.0%€687,966▲ 7.3%€602,987▼ 12.4%€546,990▼ 9.3%
Total assets€1.2m▼ 15.2%€1.2m▲ 0.4%€849,253▼ 26.6%€713,176▼ 16.0%€624,992▼ 12.4%
Debt€262,687▼ 25.7%€210,652▼ 19.8%€161,287▼ 23.4%€110,189▼ 31.7%€78,002▼ 29.2%
Working capital€79,830▼ 66.1%€355,865▲ 346%€238,932▼ 32.9%€186,332▼ 22.0%€156,121▼ 16.2%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €63,333 in 2025 against €92,068 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €624,992
Fixed assets
€459,238 ▼ 7.1%
Current assets
€165,754 ▼ 24.3%
Equity and liabilities €624,992
Equity
€546,990 ▼ 9.3%
Debt
€78,002 ▼ 29.2%
Debt's share of the balance-sheet total falls from 15.5% to 12.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€22,659▲
2024 · -€49,000
Cash flow
-€15,323▲
2024 · -€41,911
Current ratio
17.21▲
2024 · 6.73
Debt to equity
0.14▼
2024 · 0.18
ROE
-10.2%▲
2024 · -14.1%
ROA
-9.0%▲
2024 · -11.9%
Interest coverage
-6.61▲
2024 · -9.46
Debt ≤ 1 year
€9,633▼
2024 · €32,498
Debt > 1 year
€68,369▼
2024 · €76,581
Income taxes
€5▼
2024 · €284
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,616 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 8,616 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €188,502 | €53,299 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €85,088 | €70,740 | €52,116 | €43,068 | €40,674 | ▼ 5.6% |
| Other operating charges640/8 | €4,440 | €6,731 | €3,642 | €3,545 | €3,032 | ▼ 14.5% |
| Gross operating margin9900 | €11,273 | €147,170 | €6,246 | -€45,454 | -€19,627 | ▲ 56.8% |
| Operating profit (loss)9901 | -€78,255 | €69,699 | -€49,512 | -€92,068 | -€63,333 | ▲ 31.2% |
| Financial income75/76B | €8,580 | €2,849 | €7,096 | €12,550 | €10,767 | ▼ 14.2% |
| Recurring financial income75 | €8,580 | €2,849 | €7,096 | €12,550 | €10,767 | ▼ 14.2% |
| Financial charges65/66B | €8,449 | €6,177 | €3,822 | €5,177 | €3,426 | ▼ 33.8% |
| Recurring financial charges65 | €8,449 | €6,177 | €3,822 | €5,177 | €3,426 | ▼ 33.8% |
| Profit (loss) for the period before taxes9903 | -€78,125 | €66,371 | -€46,238 | -€84,695 | -€55,992 | ▲ 33.9% |
| Transfer from deferred taxes780 | €22,613 | €50,343 | €304,718 | - | - | - |
| Income taxes67/77 | €36,662 | €9,800 | €211,561 | €284 | €5 | ▼ 98.3% |
| Profit (loss) for the period9904 | -€92,173 | €106,914 | €46,919 | -€84,979 | -€55,997 | ▲ 34.1% |
| Transfer from tax-exempt reserves789 | €51,694 | €103,192 | €719,483 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€40,479 | €210,106 | €766,402 | -€84,979 | -€55,997 | ▲ 34.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.2m | €849,253 | €713,176 | €624,992 | ▼ 12.4% |
| Fixed assets21/28 | €1.0m | €775,124 | €533,808 | €494,347 | €459,238 | ▼ 7.1% |
| Tangible fixed assets22/27 | €1.0m | €774,124 | €532,808 | €493,347 | €458,238 | ▼ 7.1% |
| Land and buildings22 | €947,801 | €720,306 | €493,563 | €463,220 | €432,878 | ▼ 6.6% |
| Plant, machinery and equipment23 | €59,434 | €46,621 | €35,373 | €28,015 | €24,486 | ▼ 12.6% |
| Furniture and vehicles24 | €2,849 | €7,197 | €3,873 | €2,112 | €875 | ▼ 58.6% |
| Financial fixed assets28 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Current assets29/58 | €140,797 | €381,293 | €315,445 | €218,829 | €165,754 | ▼ 24.3% |
| Amounts receivable after more than one year29 | - | €150,000 | €150,000 | - | - | - |
| Other amounts receivable291 | - | €150,000 | €150,000 | - | - | - |
| Amounts receivable within one year40/41 | €138,701 | €17,752 | €33,200 | €210,253 | €165,600 | ▼ 21.2% |
| Other amounts receivable41 | €138,701 | €17,752 | €33,200 | €210,253 | €165,600 | ▼ 21.2% |
| Current investments50/53 | - | - | €110,000 | - | - | - |
| Cash at bank and in hand54/58 | €2,096 | €213,488 | €22,154 | €8,501 | €91 | ▼ 98.9% |
| Deferred charges and accrued income490/1 | - | €52 | €90 | €75 | €63 | ▼ 16.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €849,253 | €713,176 | €624,992 | ▼ 12.4% |
| Equity10/15 | €534,134 | €641,048 | €687,966 | €602,987 | €546,990 | ▼ 9.3% |
| Contributions10/11 | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €1.4m | €724,454 | €304,971 | €304,971 | €304,971 | = |
| Non-distributable reserves130/1 | €4,971 | €4,971 | €4,971 | €4,971 | €4,971 | = |
| Reserves not available under the articles1311 | €4,971 | €4,971 | €4,971 | €4,971 | €4,971 | = |
| Tax-exempt reserves132 | €822,675 | €719,483 | - | - | - | - |
| Distributable reserves133 | €574,842 | - | €300,000 | €300,000 | €300,000 | = |
| Profit (loss) carried forward14 | -€886,903 | -€101,956 | €364,446 | €279,466 | €223,469 | ▼ 20.0% |
| Provisions and deferred taxes16 | €355,060 | €304,718 | - | - | - | - |
| Deferred taxes168 | €355,060 | €304,718 | - | - | - | - |
| Amounts payable17/49 | €262,687 | €210,652 | €161,287 | €110,189 | €78,002 | ▼ 29.2% |
| Amounts payable after more than one year17 | €200,870 | €185,224 | €84,662 | €76,581 | €68,369 | ▼ 10.7% |
| Financial debts170/4 | €200,870 | €185,224 | €84,662 | €76,581 | €68,369 | ▼ 10.7% |
| Amounts payable within one year42/48 | €60,967 | €25,427 | €76,512 | €32,498 | €9,633 | ▼ 70.4% |
| Current portion of amounts payable after more than one year42 | €15,394 | €15,645 | €65,270 | €8,080 | €8,212 | ▲ 1.6% |
| Financial debts43 | €8,893 | €111 | - | €10,313 | €512 | ▼ 95.0% |
| Credit institutions430/8 | €8,893 | €111 | - | €10,313 | €512 | ▼ 95.0% |
| Trade debts44 | €19 | €9,671 | €689 | €3,552 | €909 | ▼ 74.4% |
| Suppliers440/4 | €19 | €9,671 | €689 | €3,552 | €909 | ▼ 74.4% |
| Taxes, remuneration and social security45 | €36,662 | - | €10,553 | €10,553 | - | - |
| Taxes450/3 | €36,662 | - | €10,553 | €10,553 | - | - |
| Accrued charges and deferred income492/3 | €850 | - | €112 | €1,110 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€92,173 | €106,914 | €46,919 | -€84,979 | -€55,997 | ▲ 34.1% |
| + Depreciation and write-downs630 | €85,088 | €70,740 | €52,116 | €43,068 | €40,674 | ▼ 5.6% |
| Operating cash flow (approximation) | -€7,086 | €177,654 | €99,034 | -€41,911 | -€15,323 | ▲ 63.4% |
| Investment in fixed assets (approximation) | - | €165,219 | €189,201 | -€3,607 | -€5,565 | ▼ 54.3% |
| Change in cash | - | €211,392 | -€191,334 | -€13,654 | -€8,410 | ▲ 38.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity triplescurrent ratio 17.21
Current ratio from 6.73 to 17.21; short-term debt falls from €32,498 to €9,633.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €106,914
Net result €106,914 after 2 loss-making years.
31-12
Financial
Liquidity times 6current ratio 15.00
Current ratio from 2.31 to 15.00; short-term debt falls from €60,967 to €25,427.
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€92,173
Net result drops to -€92,173, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
02-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €721,922
Net result €721,922 after one loss-making year.
Show earlier events
31-12
Financial
Liquidity times 97009current ratio 9.15
Current ratio from 0.00 to 9.15; short-term debt falls from €116,990 to €32,881.
31-12
Financial
Equity above €500,000Eq €701,473 ▲147%
Equity rises from €283,930 to €701,473.
13-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
18-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
22-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Braine-l'Alleud · 1 establishment unit since 1987
Ground area
694 m²
Building footprint
97 m²
Volume, LiDAR
769 m³
Parcel 25742B0476/00_000, Wallonia · tallest building 10.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
COMARCO
since 19872.031.831.779
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25742B0476/00_000 | Wallonia | 694 m² | 1 · 97 m² | 10.5 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded17-04-1987
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.