COMAREL
InactiveOverview
Overview
Official details
Source: KBO- Status
- Inactive deed of incorporation of 29-05-1996 · last publication under the heading Restructuring on 29-08-2025
- Activity
- “Alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op het oordeelkundig beheer en uitbreiding…” (deed in Dutch)From the articles, 8 activitiesNo NACE code in the KBO yet
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Board and ownership
Board
- Christine ButayeManaging director
- Butaye IsabelleDirector · since 23-11-2019
- Holdings
- Shares in 7 companies including BUNOVA and Meta Limburg
Financial position
No score
Annual accounts 2024
- Profit
- €1.5m
- ▲ 265%
- Equity
- €11.8m
- ▲ 15.1%
- Total assets
- €11.8m
- ▲ 15.1%
Financials
Financials · financial year 2024, full format
2024 annual accounts filed 151 days after the deadline Filed on 29 December 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00591988.
Annual accounts 2024 filed on 29-12-2025 PDF all 29 filings
Amounts without an identifiable currency are taken as euros.
Turnover
€0
2020 · €0
EBIT margin
Not included in this filing
Net result
€1.5m▲ 265%
2024 · €423,483
Working capital
€6.2m▲ 33.2%
2024 · €4.7m
Multi-year overview
2019 to 2024, 7 financial yearsTurnover
no figure
2024
20192024
Operating result
€1,875
2024
20192024
Net result
€1.5m
2024
20192024
Equity
€11.8m
2024
20192024
Total assets
€11.8m
2024
20192024
Debt
€19,669
2024
20192024
Working capital
€6.2m
2024
20192024
Staff (FTE)
no figure
2024
20192024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242024
Turnover€0-€0€0
Operating result-€0.02m--€0.02m▼ 12.0%-€0.01m▲ 28.4%-€0.02m▼ 46.7%-€0.02m▲ 3.7%-€0.03m▼ 50.0%€0.002m-
Net result€0.3m-€0.002m▼ 99.5%€1.5m▲ 984×€0.6m▼ 63.1%€0.6m▲ 13.8%€0.4m▼ 34.6%€1.5m-
Equity€7.1m-€7.1m=€8.6m▲ 21.8%€9.2m▲ 6.6%€9.8m▲ 7.0%€10.3m▲ 4.3%€11.8m-
Total assets€7.4m-€7.1m▼ 3.9%€8.6m▲ 21.8%€9.2m▲ 6.6%€9.8m▲ 7.1%€10.3m▲ 4.3%€11.8m-
Debt€0.3m-€0.01m▼ 95.5%€0.02m▲ 16.8%€0.02m▼ 0.8%€0.02m▲ 9.8%€0.02m▼ 6.8%€0.02m-
Working capital€1.6m-€1.4m▼ 14.6%€3.0m▲ 111%€3.6m▲ 20.0%€4.2m▲ 18.8%€4.7m▲ 10.2%€6.2m-
Staff (FTE)0-00
Several financial years end in the same calendar year, so there is no annual trend.
Balance-sheet composition
2024 in colour, 2024 as the grey bar beneath
Assets €11.8m
Fixed assets
€5.6m =
Current assets
€6.2m ▲ 33.3%
Equity and liabilities €11.8m
Equity
€11.8m ▲ 15.1%
Debt
€19,669 ▲ 24.1%
Debt's share of the balance-sheet total stays at 0.2%.
Key figures and ratios
EBITDA
€1,875▲
2024 · -€7,503
Cash flow
€1.5m▲
2024 · €446,332
Debt to equity
0.00▲
2024 · 0.00
ROE
13.1%▲
2024 · 4.1%
ROA
13.1%▲
2024 · 4.1%
Interest coverage
83.33▲
2024 · -166.73
Debt ≤ 1 year
€4,669▲
2024 · €847
Income taxes
€10,509▲
2024 · €6,177
A ratio outside any meaningful range has been withheld (balance sheet total €11.8m, equity €11.8m).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 2024 |
|---|---|---|---|---|
| Financial fixed assets | - | - | €31,000 | - |
| Depreciation and write-downs of the year | €23,214 | €23,214 | €22,849 | €0 |
Source: notes to the 2022 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €0.02m | €0.02m | €0.02m | €0.009m | - |
| Turnover70 | €0 | €0 | €0 | - | - | - | - | - |
| Other operating income74 | - | - | - | €0.02m | €0.02m | €0.02m | €0.009m | - |
| Operating charges60/66A | - | - | - | €0.04m | €0.04m | €0.05m | €0.007m | - |
| Services and other goods61 | - | - | - | €0.01m | €0.01m | €0.02m | €0.005m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0 | - |
| Other operating charges640/8 | - | - | - | €0.003m | €0.002m | €0.003m | €0.002m | - |
| Operating profit (loss)9901 | -€0.02m | -€0.02m | -€0.01m | -€0.02m | -€0.02m | -€0.03m | €0.002m | - |
| Financial income75/76B | - | - | - | €0.6m | €0.7m | €0.5m | €1.6m | - |
| Recurring financial income75 | €0.3m | €0.03m | €1.6m | €0.6m | €0.7m | €0.5m | €1.6m | - |
| Income from financial fixed assets750 | - | - | - | €0.6m | €0.7m | €0.4m | €1.5m | - |
| Income from current assets751 | - | - | - | €0.006m | €0.001m | €0.07m | €0.01m | - |
| Other financial income752/9 | - | - | - | - | €0 | €0.01m | €0 | - |
| Financial charges65/66B | - | - | - | €0.005m | €0.002m | €45 | €23 | - |
| Recurring financial charges65 | €0.02m | €99 | €107 | €0.005m | €0.002m | €45 | €23 | - |
| Debt charges650 | €0.01m | €37 | €0 | - | - | - | - | - |
| Other financial charges652/9 | - | - | - | €0.005m | €0.002m | €45 | €23 | - |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.006m | €1.5m | €0.6m | €0.6m | €0.4m | €1.6m | - |
| Income taxes67/77 | -€0.04m | €0.004m | €0.002m | €394 | €271 | €0.006m | €0.01m | - |
| Taxes670/3 | - | - | - | €0.004m | €274 | €0.02m | €0.01m | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0.004m | €3 | €0.01m | €0 | - |
| Profit (loss) for the period9904 | €0.3m | €0.002m | €1.5m | €0.6m | €0.6m | €0.4m | €1.5m | - |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.002m | €1.5m | €0.6m | €0.6m | €0.4m | €1.5m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €7.4m | €7.1m | €8.6m | €9.2m | €9.8m | €10.3m | €11.8m | - |
| Formation expenses20 | €0 | €0 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €5.7m | €5.7m | €5.7m | €5.6m | €5.6m | €5.6m | €5.6m | - |
| Intangible fixed assets21 | €0 | €0 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | - |
| Land and buildings22 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | - |
| Plant, machinery and equipment23 | - | - | - | €453 | €44 | €0 | - | - |
| Financial fixed assets28 | €5.1m | €5.1m | €5.1m | €5.1m | €5.1m | €5.1m | €5.1m | - |
| Companies linked by participating interests282/3 | - | - | - | €5.1m | €5.1m | €5.1m | €5.1m | - |
| Participating interests282 | - | - | - | €5.1m | €5.1m | €5.1m | €5.1m | - |
| Current assets29/58 | €1.7m | €1.4m | €3.0m | €3.6m | €4.2m | €4.7m | €6.2m | - |
| Amounts receivable after more than one year29 | - | - | - | €0.4m | €0.4m | €0.3m | €0.2m | - |
| Other amounts receivable291 | - | - | - | €0.4m | €0.4m | €0.3m | €0.2m | - |
| Stocks and contracts in progress3 | - | - | - | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | - | - | - | €0.001m | €0 | €0.3m | €0.5m | - |
| Other amounts receivable41 | - | - | - | €0.001m | €0 | €0.3m | €0.5m | - |
| Current investments50/53 | €0.6m | €0.6m | €0.5m | €0.4m | €0.4m | €0.4m | €0.4m | - |
| Other investments51/53 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | - |
| Cash at bank and in hand54/58 | €0.6m | €0.4m | €2.0m | €2.7m | €3.5m | €3.7m | €5.1m | - |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.002m | €0 | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €7.4m | €7.1m | €8.6m | €9.2m | €9.8m | €10.3m | €11.8m | - |
| Equity10/15 | €7.1m | €7.1m | €8.6m | €9.2m | €9.8m | €10.3m | €11.8m | - |
| Contributions10/11 | €2.3m | €2.3m | €2.3m | €2.3m | €2.3m | €2.3m | €2.3m | - |
| Capital10 | - | - | - | €2.3m | €2.3m | €2.3m | €2.3m | - |
| Issued capital100 | - | - | - | €2.3m | €2.3m | €2.3m | €2.3m | - |
| Reserves13 | €4.8m | €4.8m | €6.3m | €6.9m | €7.6m | €8.0m | €9.5m | - |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | - |
| Legal reserve130 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | - |
| Distributable reserves133 | - | - | - | €6.7m | €7.3m | €7.8m | €9.3m | - |
| Profit (loss) carried forward14 | €39 | €7 | €27 | €80 | €32 | €15 | €382 | - |
| Amounts payable17/49 | €0.3m | €0.01m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | - |
| Amounts payable after more than one year17 | €0.3m | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.05m | €0.01m | €0.01m | €0.01m | €0.02m | €0.001m | €0.005m | - |
| Financial debts43 | - | - | - | €0.01m | €0.01m | €0 | - | - |
| Credit institutions430/8 | - | - | - | €0.01m | €0.01m | €0 | - | - |
| Trade debts44 | €0.002m | - | - | €0.002m | €0.005m | €0.001m | €0.001m | - |
| Suppliers440/4 | - | - | - | €0.002m | €0.005m | €0.001m | €0.001m | - |
| Taxes, remuneration and social security45 | - | - | - | €0 | - | - | €0.003m | - |
| Taxes450/3 | - | - | - | €0 | - | - | €0.003m | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0 | €0.02m | €0.02m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | €0.002m | €1.5m | €0.6m | €0.6m | €0.4m | €1.5m | - |
| + Depreciation and write-downs630 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0 | - |
| Operating cash flow (approximation) | €0.3m | €0.02m | €1.6m | €0.6m | €0.7m | €0.4m | €1.5m | - |
| Investment in fixed assets (approximation) | - | -€0.02m | -€0.006m | €0 | €0 | -€0.03m | - | - |
| Change in cash | - | -€0.3m | €1.6m | €0.7m | €0.7m | €0.3m | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | full format | 29-12-2025 | 2025-00591988 | |
| 30-06-2024 | full format | 20-01-2025 | 2025-00006650 | |
| 30-06-2023 | full format | 30-01-2024 | 2024-00011622 | |
| 30-06-2022 | full format | 30-01-2023 | 2023-00008428 | |
| 30-06-2021 | full format | 21-02-2022 | 2022-05900332 | |
| 30-06-2020 | full format | 29-01-2021 | 2021-02400491 | |
| 30-06-2019 | full format | 14-01-2020 | 2020-00900343 | |
| 30-06-2018 | full format | 11-01-2019 | 2019-00900005 | |
| 30-06-2017 | full format | 26-01-2018 | 2018-02100594 | |
| 30-06-2016 | abbreviated format | 30-01-2017 | 2017-02400118 |
Board & ownership
Directors
Directors
1 director, 1 in day-to-day management, last change in 2024
Board 1
Butaye Isabelle
Current
Day-to-day management 1
Christine Butaye
Current
Managing director · appointed in the act of 27-09-2024
Owners and capital
Shareholders
Stated in the act
act of 21-05-2025 ↗
- Christine BUTAYE 7,570 shares · 50%
- Isabelle BUTAYE 7,570 shares · 50%
Share transfer
act of 21-05-2025 ↗
- heer BUTAYE to LEVANIC 7,560 shares
- mevrouw VAN VAERENBERGH to LEVANIC 7,560 shares
Capital transactions
Capital over time
- 21-05-2025 Capital stated in the deed · €2,270,000 · 15,140 shares
Mandate history
2 people, 2 in office
- Board
- Day-to-day management
| Name | Functions and periods |
|---|---|
| Butaye Isabelle |
|
| Christine Butaye |
|
Network & group
Holdings and subsidiaries
7 holdingsHoldings 7
Source for every holding own accounts 2024
- Equity €2.7m Profit of €286,916 in 2025 (profit of €425,439 in 2024) Checked score 9650%
- Equity €844,567 Profit of €22,979 in 2025 (profit of €79,019 in 2024) Checked score 2450%
- Equity €5.5m Loss of €324,806 in 2025 (loss of €895,937 in 2024) Checked score 8650%
- Equity €2.8m Profit of €226,155 in 2025 (profit of €308,553 in 2024) Checked score 8150%
- Equity -€1.3m Loss of €318,664 in 2025 (loss of €272,066 in 2024) Checked score 5350%
- Equity €0 Profit of €6,172 in 2025 (profit of €2.5m in 2024)49.92%
- Equity €269,789 Profit of €5,540 in 2025 (profit of €32,415 in 2024) Checked score 8849.58%
Board mandates elsewhere
3 board mandatesBoard mandates of COMARELCOMAREL sits on their board3
Acquisitions and mergers
2 transactionsSplit off to:ComaLeva
Split off to:DOMAX
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
ComaLeva
Shared director
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Timeline
Acts, filings and financial milestones
2025
29-12
full format · 151 days late
29-08
Gazette deed
Demerger: COMAREL splits off to ComaLevaDissolution of the company · Dissolved without liquidation3 points ▸
Gazette deed
Demerger: COMAREL splits off to ComaLeva
Dissolution of the company · Dissolved without liquidation3 points ▸
- General meeting, 30-06-2025
- Power of attorney, BUTAYE Christine
- Power of attorney, BUTAYE Isabelle
- The act holds 11 more points.
21-05
Gazette deed
Demerger proposal: COMAREL splits off to ComaLevaTransfer of 7,560 shares from heer BUTAYE to LEVANIC · Transfer of 7,560 shares from mevrouw VAN VAERENBERGH to LEVANIC · Christine BUTAYE holds 7,570 shares (50%)12 points ▸
Gazette deed
Demerger proposal: COMAREL splits off to ComaLeva
Transfer of 7,560 shares from heer BUTAYE to LEVANIC · Transfer of 7,560 shares from mevrouw VAN VAERENBERGH to LEVANIC · Christine BUTAYE holds 7,570 shares (50%)12 points ▸
- Share transfer, heer BUTAYE → LEVANIC, 7,560 shares
- Share transfer, mevrouw VAN VAERENBERGH → LEVANIC, 7,560 shares
- Christine BUTAYE holds 7,570 shares
- Isabelle BUTAYE holds 7,570 shares
- Director in office, Christine BUTAYE (director)
- Director in office, Isabelle BUTAYE (director)
- Capital, €2,270,000, 15,140 shares
- Christine BUTAYE holds 7,570 shares (50%)
- Isabelle BUTAYE holds 7,570 shares (50%)
- Board composition, Christine BUTAYE (director (not named in the articles) and managing director)
- Board composition, Isabelle BUTAYE (director (not named in the articles))
- 1,000 shares, mentioned 2 times in the deed
- The act holds 42 more points.
20-01
full format · 11 days before the deadline
2024
31-12
Financial
Highest result from 2019 to 2024net €1.5m ▲265%
The operating result of €1,875 and the net result of €1.5m are both a record.
27-09
Gazette deed
Appointment: Christine Butaye (managing director)2 points ▸
Gazette deed
Appointment: Christine Butaye (managing director)
2 points ▸
- Board meeting, 26-08-2024
- Director appointment, Christine Butaye (managing director)
30-06
Financial
Liquidity times 22current ratio 5495.46
The current ratio rises from 249.29 to 5495.46. Short-term debt falls from €17,010 to €847.
30-06
Financial
Equity above €10mequity €10.3m ▲4.3%
With a profit in every financial year since 2019, equity grows to €10.3m.
30-01
full format · 1 day before the deadline
2023
30-01
full format · 1 day before the deadline
2022
21-02
full format · 21 days late
2021
29-01
full format · 2 days before the deadline
Show earlier events
2020
30-06
Financial
Weakest financial yearnet €1,568 ▼99.5%
The net result drops to €1,568, the lowest from 2019 to 2024.
30-06
Financial
Liquidity more than triplescurrent ratio 113.17
The current ratio rises from 34.57 to 113.17. Short-term debt falls from €48,926 to €12,500.
14-01
full format · 17 days before the deadline
2019
11-01
full format · 20 days before the deadline
2018
26-01
full format · 5 days before the deadline
2017
30-01
abbreviated format · 1 day before the deadline
1996
29-05
Gazette deed
Incorporation
28 publications in the Belgian Official Gazette, the last on 29-08-2025
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Inactive
Inactive
COMAREL is no longer in the KBO register.
- Status
- Inactive
- Last annual accounts
- financial year to 31 December 2024
- Last registered office
- Van Bladelstraat 14, 3020 Herentas published on 29 August 2025
- Legal form
- Public limited company
- First annual accounts
- financial year 1997
Purpose according to the articles of association
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op het oordeelkundig beheer en uitbreiding van een onroerend…”
8 activities
- Alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op het oordeelkundig beheer en uitbreiding van een onroerend patrimonium,vooral door verhuring en andere overeenkomsten met derden in verband met hun gebruik,genot en opbrengst.
- Het nemen van participaties en deelnemingen in andere vennootschappen en ondernemingen;
- Het besturen,begeleiden en adviseren van ondernemingen en vennootschappen;
- Het te leen opnemen of te leen geven van gelden,in de mate toegelaten door de wet,onder welke vorm ook,met of zonder zakelijke en/of persoonlijke zekerheden;
- Het beleggen,het beheren en uitbaten van eigen onroerende en roerende waarden en bezittingen.Het financieren van investeringen,hetzij voor eigen rekening,hetzij voor rekening van derden;
- Het voeren of doen uitvoeren van research in verband met ondernemingen op alle technische gebieden,zoals marketing,productie,ondernemingstechnieken en dergelijke;
- Het adviseren van ondernemingen op juridisch en fiskaal vlak,voor zover dit wettelijk is toegelaten,op het vlak van het management en de computerisering en wat de boekhoudkundige en administratieve organisatie betreft,alsmede de invoering,de begeleiding en de uitvoering van deze adviezen;
- Het uitvoeren van controle-opdrachten met betrekking tot de boekhouding van ondernemingen,voorzover dit wettelijk is toegelaten.
Articles of association, deed of 21-05-2025 (in Dutch)