COMBES LOGISTICS
ActiveCOMBES LOGISTICS has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €180k and a net result of €10k. Equity is growing by ~8.4% per year across the filed fiscal years. Its solvency ranks better than 87% of 4860 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
84
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability74▼-3
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity tight (current ratio 1.29 against 0.69 in 2024; short-term debt: 10.3% and cash: 7.9% of total assets), and 17.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
82.6%
Return on assets
4.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 · 10 filingsDeviation from the deadline
2025
27 d late
2024
12 d late
2023
1 d early
2022
24 d late
2021
23 d late
2020
25 d late
2019
2 d early
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€10k▼ 32.7%
2024 · €15k
2018: €1k
2019: €9k
2020: €50k
2021: €8k
2022: €7k
2023: €9k
2024: €15k
2018 → 2025
Working capital
€7k
2024 · €-9k
2018: €-5k
2019: €7k
2020: €20k
2021: €-21k
2022: €-18k
2023: €-34k
2024: €-9k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€139k-€147k▲ 5.2%€155k▲ 6.0%€170k▲ 9.5%€180k▲ 5.8%
Operating result€8k-€6k▼ 18.0%€8k▲ 22.7%€15k▲ 84.7%€14k▼ 4.8%
Net result€8k-€7k▼ 9.8%€9k▲ 20.5%€15k▲ 68.9%€10k▼ 32.7%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 5% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €218k
Fixed assets
€189k▼ 3.4%
Current assets
€29k▲ 47.1%
Equity and liabilities €218k
Equity
€180k▲ 5.8%
Provisions
€15k▼ 7.9%
Debt
€22k▼ 21.0%
The debt ratio falls from 13.2% to 10.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€21k▼
2024 · €26k
Cash flow
€17k▼
2024 · €26k
Solvency
82.6%▲
2024 · 79.0%
Current ratio
1.29▲
2024 · 0.69
Quick ratio
1.29▲
2024 · 0.69
Debt / equity
0.12▼
2024 · 0.17
ROE
5.5%▼
2024 · 8.7%
ROA
4.6%▼
2024 · 6.8%
Interest coverage
82.89▲
2024 · 68.00
Debt
€22k▼
2024 · €28k
Debt ≤ 1 year
€22k▼
2024 · €28k
Income taxes
€5k▲
2024 · €776
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€215k€218k▲
Fixed assets21/28€196k€189k▼
Tangible fixed assets22/27€196k€189k▼
Land and buildings22€176k€172k▼
Plant, machinery and equipment23€2k€1k▼
Furniture and vehicles24€18k€15k▼
Current assets29/58€20k€29k▲
Amounts receivable within one year40/41€11k€11k▼
Trade receivables40€11k€11k▼
Cash at bank and in hand54/58€8k€17k▲
Deferred charges and accrued income490/1€194€694▲
Equity and liabilities
Total equity and liabilities10/49€215k€218k▲
Equity10/15€170k€180k▲
Contributions10/11€70k€70k=
Capital10€70k€70k=
Issued capital100€70k€70k=
Reserves13€57k€53k▼
Non-distributable reserves130/1€7k€7k=
Legal reserve130€7k€7k=
Tax-exempt reserves132€50k€46k▼
Profit (loss) carried forward14€43k€57k▲
Provisions and deferred taxes16€17k€15k▼
Deferred taxes168€17k€15k▼
Amounts payable17/49€28k€22k▼
Amounts payable within one year42/48€28k€22k▼
Financial debts43-€2k
Credit institutions430/8-€2k
Trade debts44-€678
Suppliers440/4-€678
Taxes, remuneration and social security45€3k€4k▲
Taxes450/3€3k€4k▲
Other amounts payable47/48€26k€16k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€7k▼
Other operating charges640/8€7k€7k▲
Gross operating margin9900€33k€28k▼
Operating profit (loss)9901€15k€14k▼
Financial charges65/66B€386€248▼
Recurring financial charges65€386€248▼
Profit (loss) for the period before taxes9903€14k€14k▼
Transfer from deferred taxes780€1k€1k=
Income taxes67/77€776€5k▲
Profit (loss) for the period9904€15k€10k▼
Transfer from tax-exempt reserves789€4k€4k=
Profit (loss) for the period to be appropriated9905€19k€14k▼
Appropriation of the result
Profit (loss) to be appropriated9906€43k€57k▲
Profit (loss) brought forward from the previous period14P€24k€43k▲
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 27 days late
2025
12-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 12 days late
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €150kEq €155k ▲6%
6 profitable years in a row build equity to €155k.
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 24 days late
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 23 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 25 days late
2020
31-12
Financial
Highest result since 2018net €50k ▲453%
Operating result €70k, net result €50k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 5.33
Current ratio from 2.47 to 5.33.
31-12
Financial
Equity above €100kEq €131k ▲61.8%
3 profitable years in a row build equity to €131k.
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity times 5current ratio 2.47
Current ratio from 0.47 to 2.47; short-term debt falls from €9k to €4k.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 16 days late
2017
10-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Lendelede · 1 establishment unit since 2003
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Steckenbornpad 48860 LendeledeGround area
3,388 m²
Building footprint
249 m²
Volume, LiDAR
1,415 m³
Parcel 34025C0104/00P000, Flanders · tallest building 12.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Combes Immobiliën
since 20032.135.282.774
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34025C0104/00P000 | Flanders | 3,388 m² | 1 · 249 m² | 12.2 m · 2 fl. |
Linked by address, not proof of ownership
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.
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BE 0429.872.326
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TECHNICAL EQUIPMENT SUPPLIES
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Of 1,565 companies in sector 46900 we hold annual accounts for 920. 649 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded17-04-1979
Fiscal year end31-12
Activities, NACEBEL
46900Non-specialised wholesale trade
52249Warehousing and support activities for transportation
82920Office administrative, office support and other business support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 47 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.