COMBELBIO
Bankruptcy closedInactive since 27-05-2026; last annual accounts for fiscal year 2022.
Summary
COMBELBIO was declared bankrupt on 07-09-2023 (Tribunal de l’entreprise de Liège, division Namur); the bankruptcy was closed by liquidation by judgment of 13-05-2026, published in the Belgian State Gazette on 19-05-2026.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-03-2022 was due by 31-10-2022 and was filed on 28-11-2022, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 7 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
28 d late
2021
29 d late
2020
27 d late
2019
154 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 60 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Still owed money by this company? Its procedure, who runs it and what to do now.Creditor guide Who ran this company, and where was it based, on a date before the end?Company as of a date Are there other customers at risk in your own list?List enrichment How is the Agents in the wholesale of food, beverages and tobacco sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2022, micro schema
Turnover
€195,816▲ 5.2%
2021 · €186,086
EBIT margin
11.9%▲ 9.9pp
2021 · 2.0%
Net result
€17,249▲ 11,582%
2021 · €148
Working capital
€55,923▲ 11.8%
2021 · €50,030
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2019202020212022
Turnover€183,583-€154,730▼ 15.7%€186,086▲ 20.3%€195,816▲ 5.2%
Operating result-€4,011--€12,110▼ 202%€3,779€23,336▲ 517%
Net result-€7,736--€16,659below the sector's middle half▼ 115%€148within the sector's middle half€17,249within the sector's middle half▲ 11,582%
EBIT margin-2.2%--7.8%▼ 5.6pp2.0%▲ 9.9pp11.9%▲ 9.9pp
Equity€26,964-€10,305within the sector's middle half▼ 61.8%€10,453within the sector's middle half▲ 1.4%€27,702within the sector's middle half▲ 165%
Total assets€229,920-€155,106within the sector's middle half▼ 32.5%€177,606within the sector's middle half▲ 14.5%€167,424within the sector's middle half▼ 5.7%
Debt€202,956-€144,801▼ 28.7%€167,153▲ 15.4%€139,722▼ 16.4%
Working capital€43,623-€19,072▼ 56.3%€50,030▲ 162%€55,923▲ 11.8%
Solvency11.7%-6.6%below the sector's middle half▼ 5.1pp5.9%below the sector's middle half▼ 0.8pp16.5%within the sector's middle half▲ 10.7pp
Staff (FTE)0.6below the sector's middle half0.9▲ 50.0%2.2▲ 144%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2020 the operating result has climbed two years in a row; 2022 is 517% above 2021 and is the highest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €167,424
Fixed assets
€24,285 ▼ 23.2%
Current assets
€143,139 ▼ 2.0%
Equity and liabilities €167,424
Equity
€27,702 ▲ 165%
Debt
€139,722 ▼ 16.4%
Debt's share of the balance-sheet total falls from 94.1% to 83.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€32,471▲
2021 · €13,558
Cash flow
€26,384▲
2021 · €9,926
Current ratio
1.64▲
2021 · 1.52
Quick ratio
1.56▲
2021 · 1.42
Debt to equity
5.04▼
2021 · 6.81
ROE
62.3%▲
2021 · 1.4%
ROA
10.3%▲
2021 · 0.1%
Interest coverage
5.41
Debt ≤ 1 year
€87,217▼
2021 · €95,957
Debt > 1 year
€51,858▼
2021 · €71,197
Staff costs
€14,965
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Turnover70 | €183,583 | €154,730 | €186,086 | €195,816 | ▲ 5.2% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €151,668 | - |
| Remuneration, social security and pensions62 | - | - | - | €14,965 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,993 | €7,037 | €9,778 | €9,134 | ▼ 6.6% |
| Other operating charges640/8 | - | - | - | €1,014 | - |
| Gross operating margin9900 | -€748 | -€986 | €23,791 | €48,450 | ▲ 104% |
| Operating profit (loss)9901 | -€4,011 | -€12,110 | €3,779 | €23,336 | ▲ 517% |
| Financial income75/76B | - | - | - | €5 | - |
| Recurring financial income75 | €0 | - | €6 | €5 | ▼ 11.1% |
| Financial charges65/66B | - | - | - | €6,092 | - |
| Recurring financial charges65 | €3,695 | €4,435 | €3,616 | €6,001 | ▲ 66.0% |
| Non-recurring financial charges66B | - | - | - | €91 | - |
| Profit (loss) for the period before taxes9903 | -€7,895 | -€16,545 | €317 | €17,249 | ▲ 5,343% |
| Income taxes67/77 | -€159 | €114 | €169 | - | - |
| Profit (loss) for the period9904 | -€7,736 | -€16,659 | €148 | €17,249 | ▲ 11,582% |
| Profit (loss) for the period to be appropriated9905 | -€7,736 | -€16,659 | €148 | €17,249 | ▲ 11,582% |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €229,920 | €155,106 | €177,606 | €167,424 | ▼ 5.7% |
| Fixed assets21/28 | €30,775 | €28,480 | €31,619 | €24,285 | ▼ 23.2% |
| Tangible fixed assets22/27 | €30,775 | €28,480 | €31,619 | €22,485 | ▼ 28.9% |
| Plant, machinery and equipment23 | - | - | - | €7,547 | - |
| Furniture and vehicles24 | - | - | - | €168 | - |
| Leasing and similar rights25 | - | - | - | €7,750 | - |
| Other tangible fixed assets26 | - | - | - | €7,020 | - |
| Financial fixed assets28 | - | - | - | €1,800 | - |
| Current assets29/58 | €199,146 | €126,626 | €145,987 | €143,139 | ▼ 2.0% |
| Stocks and contracts in progress3 | €37,256 | €32,376 | €10,076 | €7,229 | ▼ 28.3% |
| Stocks30/36 | - | - | - | €7,229 | - |
| Amounts receivable within one year40/41 | €159,689 | €92,050 | €133,711 | €133,963 | ▲ 0.2% |
| Trade receivables40 | - | - | - | €58,007 | - |
| Other amounts receivable41 | - | - | - | €75,956 | - |
| Cash at bank and in hand54/58 | €2,200 | €2,200 | €2,200 | €1,947 | ▼ 11.5% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €229,920 | €155,106 | €177,606 | €167,424 | ▼ 5.7% |
| Equity10/15 | €26,964 | €10,305 | €10,453 | €27,702 | ▲ 165% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | - |
| Issued capital100 | - | - | - | €18,600 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - |
| Legal reserve130 | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €6,504 | -€10,155 | -€10,007 | €7,242 | ▲ 172% |
| Amounts payable17/49 | €202,956 | €144,801 | €167,153 | €139,722 | ▼ 16.4% |
| Amounts payable after more than one year17 | €47,434 | €37,247 | €71,197 | €51,858 | ▼ 27.2% |
| Financial debts170/4 | - | - | - | €51,858 | - |
| Amounts payable within one year42/48 | €155,522 | €107,554 | €95,957 | €87,217 | ▼ 9.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €15,338 | - |
| Financial debts43 | - | - | - | €20,000 | - |
| Credit institutions430/8 | - | - | - | €20,000 | - |
| Trade debts44 | €121,190 | €50,825 | €51,217 | €49,804 | ▼ 2.8% |
| Suppliers440/4 | - | - | - | €49,804 | - |
| Taxes, remuneration and social security45 | - | - | - | €2,075 | - |
| Taxes450/3 | - | - | - | €784 | - |
| Remuneration and social security454/9 | - | - | - | €1,291 | - |
| Accrued charges and deferred income492/3 | - | - | - | €648 | - |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,736 | -€16,659 | €148 | €17,249 | ▲ 11,582% |
| + Depreciation and write-downs630 | €1,993 | €7,037 | €9,778 | €9,134 | ▼ 6.6% |
| Operating cash flow (approximation) | -€5,743 | -€9,622 | €9,926 | €26,384 | ▲ 166% |
| Investment in fixed assets (approximation) | - | -€4,742 | -€12,917 | -€1,800 | ▲ 86.1% |
| Change in cash | - | €0 | €0 | -€253 | - |
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
2026
19-05
Bankruptcy
Bankruptcy closure (by liquidation)
Tribunal de l’entreprise de Liège, division Namur · event 13-05-2026
2023
29-11
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Namur · event 07-09-2023
2022
28-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
31-03
Financial
Highest result since 2019net €17,249 ▲11,582%
Operating result €23,336, net result €17,249, both a record.
2021
29-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
31-03
Financial
Back to profitnet €148
Net result €148 after 2 loss-making years.
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
02-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 154 days late
31-03
Financial
Weakest financial yearnet -€16,659
Net result drops to -€16,659, the lowest in the series.
2018
08-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 8 days late
2017
11-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 41 days late
2016
21-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 21 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Gembloux
Ground area
6,824 m²
Building footprint
356 m²
Parcel 92011C0019/00M000, Wallonia. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92011C0019/00M000 | Wallonia | 6,824 m² | 1 · 356 m² | - |
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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | MURIELLE DELFORGE CHAUSSEE DE DINANT 776,
5100 04 WEPION |
07-09-2023 → 13-05-2026 |
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Of 1,638 companies in sector 46170 we hold annual accounts for 669. 441 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded29-01-2015
Fiscal year end31-03
Activities, NACEBEL 2025
46170Agents in the wholesale of food, beverages and tobacco
46389Wholesale of other food products
82920Office administrative, office support and other business support activities
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.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.