Combi 2000
ActiveSummary
Combi 2000 has been active since 1970 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.3m and a net result of €468,290. Equity has been growing by about 8.8% per year since 2018. Its solvency ranks better than 88% of 9,850 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 05-12-1970 Normal situation
- Activity
- Wholesale of timber NACE 46832and 2 others
- Joint committees
- 201 Paritair Comité voor de zelfstandige kleinhandel
- 126 Paritair Comité voor de stoffering en de houtbewerking
- 100 Aanvullend Paritair Comité voor de werklieden · annual accounts 2025
- Establishment units
- 2.102.060.868 9100 Sint-Niklaas, since 01-01-1971
- 2.169.845.161 9190 Stekene, since 01-03-2008
- Financial year end
- 31 December
- Peppol
- Reachable since 23-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
Annual accounts 2025
- Gross margin
- €1.9m
- ▼ 6.0%
- Turnover
- ≈ €8.0m
- estimated
- Profit
- €468,290
- ▼ 26.2%
- Equity
- €6.3m
- ▲ 3.9%
- Total assets
- €7.3m
- ▲ 4.0%
- Employees on 31-12-2025
- 22
- ▼ 8.3%
Score breakdownlowers riskFounded in 1970Profit of €468,290 (financial year 2025)Equity €6.3m (85.6% of total assets)Size: 22.6 FTE, total assets €7.3mShow the evidence
Checked score
Score 2025
97
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 74% of small companies in wholesale trade (NACE 46)
Financial strength · tick: 2024
Strong
Solvency
100=
equity 85.6% of total assets
Liquidity
61+7
short-term debt 9.1% · cash 8.5%
Profitability
77-3
return on assets 6.4%
Bankruptcy probability within 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: 0.1%▲ +0.1 percentage points vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025highest value
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: < 0.1%▼ -0.1 percentage points vs 05-2026lowest value
07-2026: < 0.1%● unchanged vs 06-2026lowest value
08-2026: < 0.1%● unchanged vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Credit of up to €600,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 5.78 (7.4 in 2024), above the usual 1.5. Short-term debt is 9.1% and cash 8.5% of total assets. 14.4% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, small). It does better than 92% of them on solvency, 79% on liquidity, 75% on profitability and 51% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskneutral
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 19-05-2026, 73 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
73 days early
2024
30 days early
2023
50 days early
2022
45 days early
2021
45 days early
2020
53 days early
2019
1 day early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 42 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 16 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 19-05-2026 PDF all 48 filings
Amounts without an identifiable currency are taken as euros.
Turnover
≈ €8.0m
Estimated: probably between €4.8m and €14.0m
Total assets
€7.3m▲ 4.0%
2024 · €7.0m
Net result
€468,290▼ 26.2%
2024 · €634,129
Working capital
€3.2m▲ 6.5%
2024 · €3.0m
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€739,752
▼ 19.0%
2025
20182025
Net result
€468,290
▼ 26.2%
2025
highest quarter of the sector
20182025
Equity
€6.3m
▲ 3.9%
2025
highest quarter of the sector
20182025
Total assets
€7.3m
▲ 4.0%
2025
highest quarter of the sector
20182025
Debt
€1.0m
▲ 4.5%
2025
20182025
Working capital
€3.2m
▲ 6.5%
2025
highest quarter of the sector
20182025
Solvency
85.6%
▼ 0.1pp
2025
highest quarter of the sector
20182025
Current ratio
5.78
▼ 1.62
2025
highest quarter of the sector
20182025
Return on assets (ROA)
6.4%
▼ 2.6pp
2025
middle half of the sector
20182025
Staff (FTE)
22.6
▲ 7.1%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.7m-€0.6m▼ 4.5%€1.3m▲ 102%€1.1m▼ 15.6%€0.8m▼ 23.0%€0.8m▼ 6.0%€0.9m▲ 17.9%€0.7m▼ 19.0%
Net result€0.4m-€0.4m▲ 4.7%€0.9mabove the sector's middle half▲ 118%€0.7mabove the sector's middle half▼ 19.4%€0.6mabove the sector's middle half▼ 17.0%€0.6mabove the sector's middle half▼ 5.7%€0.6mabove the sector's middle half▲ 12.0%€0.5mabove the sector's middle half▼ 26.2%
Equity€3.1m-€3.4m▲ 10.1%€4.3mabove the sector's middle half▲ 26.4%€4.9mabove the sector's middle half▲ 14.5%€5.2mabove the sector's middle half▲ 5.7%€5.6mabove the sector's middle half▲ 7.6%€6.0mabove the sector's middle half▲ 7.8%€6.3mabove the sector's middle half▲ 3.9%
Total assets€4.6m-€4.6m▲ 1.5%€6.0mabove the sector's middle half▲ 29.6%€6.1mabove the sector's middle half▲ 0.6%€6.0mabove the sector's middle half▼ 1.6%€6.1mabove the sector's middle half▲ 2.9%€7.0mabove the sector's middle half▲ 14.6%€7.3mabove the sector's middle half▲ 4.0%
Debt€1.5m-€1.2m▼ 16.3%€1.7m▲ 38.3%€1.1m▼ 33.9%€0.8m▼ 32.9%€0.5m▼ 29.0%€1.0m▲ 84.7%€1.0m▲ 4.5%
Working capital€1.2m-€1.3m▲ 12.8%€1.5mabove the sector's middle half▲ 12.6%€2.0mabove the sector's middle half▲ 35.3%€2.3mabove the sector's middle half▲ 15.0%€2.7mabove the sector's middle half▲ 14.6%€3.0mabove the sector's middle half▲ 11.3%€3.2mabove the sector's middle half▲ 6.5%
Solvency67.4%-73.1%▲ 5.7pp71.3%above the sector's middle half▼ 1.8pp81.1%above the sector's middle half▲ 9.9pp87.1%above the sector's middle half▲ 6.0pp91.1%above the sector's middle half▲ 4.0pp85.7%above the sector's middle half▼ 5.4pp85.6%above the sector's middle half▼ 0.1pp
Current ratio2.44-2.66▲ 0.222.06within the sector's middle half▼ 0.603.11above the sector's middle half▲ 1.054.25above the sector's middle half▲ 1.135.93above the sector's middle half▲ 1.687.40above the sector's middle half▲ 1.475.78above the sector's middle half▼ 1.62
Return on assets (ROA)8.6%-8.8%▲ 0.3pp14.9%above the sector's middle half▲ 6.1pp11.9%within the sector's middle half▼ 3.0pp10.1%within the sector's middle half▼ 1.9pp9.2%within the sector's middle half▼ 0.8pp9.0%within the sector's middle half▼ 0.2pp6.4%within the sector's middle half▼ 2.6pp
Staff (FTE)18-20.2▲ 12.2%23.6above the sector's middle half▲ 16.8%24.2above the sector's middle half▲ 2.5%22.9above the sector's middle half▼ 5.4%22.3above the sector's middle half▼ 2.6%21.1above the sector's middle half▼ 5.4%22.6above the sector's middle half▲ 7.1%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 19% lower than in 2024 and the lowest since 2021.
Turnover and EBIT margin are not published. The abbreviated 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 €7.3m
Fixed assets
€3.5m ▼ 3.1%
Current assets
€3.8m ▲ 11.4%
Equity and liabilities €7.3m
Equity
€6.3m ▲ 3.9%
Debt
€1.0m ▲ 4.5%
Debt's share of the balance-sheet total rises from 14.3% to 14.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€885,489▼
2024 · €1.1m
Cash flow
€614,027▼
2024 · €787,014
Quick ratio
2.27▼
2024 · 2.52
Debt to equity
0.17▲
2024 · 0.17
ROE
7.5%▼
2024 · 10.5%
Interest coverage
26.72▼
2024 · 39.97
Debt ≤ 1 year
€664,443▲
2024 · €465,761
Debt > 1 year
€384,466▼
2024 · €538,252
Income taxes
€241,959▼
2024 · €256,291
Staff costs
€867,707▼
2024 · €877,852
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 26 | 23 | 21 | 24 | 22 |
| full-time | 22 | 20 | 18 | 20 | 18 |
| part-time | 4 | 3 | 3 | 4 | 4 |
| in full-time equivalents | 24.7 | 22.1 | 20.4 | 22.9 | 20.9 |
| Average over the year, in full-time equivalents | 24.2 | 22.9 | 22.3 | 21.1 | 22.6 |
| On a permanent contract | 25 | 23 | 20 | 21 | 21 |
| Joined | 9 | 8 | 5 | 9 | 7 |
| Left | 7 | 9 | 7 | 6 | 9 |
| Training hours | - | - | 1,786 | - | 3,518 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €312,246 | €179,873 | €45,684 | €692,039 | €538,252 |
| Mortgages, amount registered | €3.3m | €3.3m | €75,000 | €75,000 | €75,000 |
| Mortgage mandates | - | - | €3.2m | €3.2m | €3.2m |
| Carrying value of the mortgaged assets | €2.8m | €2.7m | €2.7m | €2.6m | €2.5m |
| Pledge on the business | €247,893 | €247,893 | €247,893 | €300,000 | €300,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €127,525 | €8,777 | €168,162 | €36,396 | €31,426 |
| Financial fixed assets | - | - | - | €787,054 | €3,760 |
| Depreciation and write-downs of the year | €166,961 | €166,976 | €156,214 | €152,885 | €145,737 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €7,500 awarded · €7,500 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €4,000 | €4,000 |
| 2024 | 1 | €2,000 | €2,000 |
| 2023 | 1 | €500 | €500 |
| 2022 | 1 | €1,000 | €1,000 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €0.08m | €0.02m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.8m | €0.9m | €0.9m | €0.9m | €0.9m | ▼ 1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 4.7% |
| Other operating charges640/8 | - | - | - | €0.06m | €0.07m | €0.07m | €0.08m | €0.2m | ▲ 87.2% |
| Gross operating margin9900 | €1.4m | €1.5m | €2.2m | €2.1m | €1.9m | €1.9m | €2.0m | €1.9m | ▼ 6.0% |
| Operating profit (loss)9901 | €0.7m | €0.6m | €1.3m | €1.1m | €0.8m | €0.8m | €0.9m | €0.7m | ▼ 19.0% |
| Financial income75/76B | - | - | - | - | €0.004m | €0.003m | €0.004m | €0.004m | ▼ 2.1% |
| Recurring financial income75 | €0.004m | €0.003m | €0.008m | - | €0.004m | €0.003m | €0.004m | €0.004m | ▼ 2.1% |
| Financial charges65/66B | - | - | - | €0.01m | €0.01m | €0.01m | €0.03m | €0.03m | ▲ 24.2% |
| Recurring financial charges65 | €0.05m | €0.007m | €0.02m | €0.01m | €0.01m | €0.01m | €0.03m | €0.03m | ▲ 24.2% |
| Profit (loss) for the period before taxes9903 | €0.6m | €0.6m | €1.3m | €1.1m | €0.8m | €0.8m | €0.9m | €0.7m | ▼ 20.2% |
| Income taxes67/77 | €0.2m | €0.2m | €0.4m | €0.3m | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 5.6% |
| Profit (loss) for the period9904 | €0.4m | €0.4m | €0.9m | €0.7m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 26.2% |
| Profit (loss) for the period to be appropriated9905 | €0.4m | €0.4m | €0.9m | €0.7m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 26.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €4.6m | €4.6m | €6.0m | €6.1m | €6.0m | €6.1m | €7.0m | €7.3m | ▲ 4.0% |
| Formation expenses20 | €0 | €0 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €2.6m | €2.5m | €3.1m | €3.1m | €2.9m | €2.9m | €3.6m | €3.5m | ▼ 3.1% |
| Intangible fixed assets21 | €0 | €0 | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €2.6m | €2.5m | €3.1m | €3.1m | €2.9m | €2.9m | €2.8m | €2.7m | ▼ 4.1% |
| Land and buildings22 | - | - | - | €2.8m | €2.7m | €2.7m | €2.6m | €2.5m | ▼ 3.8% |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 10.8% |
| Furniture and vehicles24 | - | - | - | €0.08m | €0.04m | €0.02m | €0.009m | €0.01m | ▲ 48.8% |
| Financial fixed assets28 | €0.003m | €0.003m | €0.005m | €0.005m | €0.005m | €0.005m | €0.8m | €0.8m | ▲ 0.5% |
| Current assets29/58 | €2.0m | €2.1m | €2.9m | €3.0m | €3.1m | €3.2m | €3.4m | €3.8m | ▲ 11.4% |
| Stocks and contracts in progress3 | €1.7m | €1.6m | €1.7m | €2.1m | €2.4m | €2.4m | €2.3m | €2.3m | ▲ 2.6% |
| Stocks30/36 | - | - | - | €2.1m | €2.4m | €2.4m | €2.3m | €2.3m | ▲ 2.6% |
| Amounts receivable within one year40/41 | €0.04m | €0.02m | €0.03m | €0.04m | €0.02m | €0.04m | €0.6m | €0.6m | ▲ 3.6% |
| Trade receivables40 | - | - | - | €0.005m | €0.01m | €0.02m | €0.05m | €0.05m | ▲ 6.7% |
| Other amounts receivable41 | - | - | - | €0.04m | €0.008m | €0.02m | €0.6m | €0.6m | ▲ 3.4% |
| Current investments50/53 | €0.2m | €0.3m | €0.4m | €0.5m | €0.5m | €0.5m | €0.3m | €0.2m | ▼ 26.8% |
| Cash at bank and in hand54/58 | €0.1m | €0.2m | €0.8m | €0.4m | €0.2m | €0.3m | €0.2m | €0.6m | ▲ 166% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.009m | - | €0.006m | €0.02m | ▲ 186% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €4.6m | €4.6m | €6.0m | €6.1m | €6.0m | €6.1m | €7.0m | €7.3m | ▲ 4.0% |
| Equity10/15 | €3.1m | €3.4m | €4.3m | €4.9m | €5.2m | €5.6m | €6.0m | €6.3m | ▲ 3.9% |
| Contributions10/11 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Capital10 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Issued capital100 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Reserves13 | €2.7m | €3.0m | €3.9m | €4.5m | €4.8m | €5.2m | €5.6m | €5.9m | ▲ 4.2% |
| Non-distributable reserves130/1 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Legal reserve130 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Distributable reserves133 | - | - | - | €4.5m | €4.8m | €5.2m | €5.6m | €5.8m | ▲ 4.2% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | - | - | - | - | - | - |
| Amounts payable17/49 | €1.5m | €1.2m | €1.7m | €1.1m | €0.8m | €0.5m | €1.0m | €1.0m | ▲ 4.5% |
| Amounts payable after more than one year17 | €0.7m | €0.4m | €0.3m | €0.2m | €0.05m | - | €0.5m | €0.4m | ▼ 28.6% |
| Financial debts170/4 | - | - | - | €0.2m | €0.05m | - | €0.5m | €0.4m | ▼ 28.6% |
| Amounts payable within one year42/48 | €0.8m | €0.8m | €1.4m | €1.0m | €0.7m | €0.5m | €0.5m | €0.7m | ▲ 42.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.05m | €0.2m | €0.2m | = |
| Financial debts43 | - | - | - | €0.2m | €0.09m | €0.07m | €0.07m | - | - |
| Credit institutions430/8 | - | - | - | €0.2m | €0.09m | €0.07m | €0.07m | - | - |
| Trade debts44 | €0.3m | €0.2m | €0.7m | €0.4m | €0.2m | €0.3m | €0.08m | €0.3m | ▲ 268% |
| Suppliers440/4 | - | - | - | €0.4m | €0.2m | €0.3m | €0.08m | €0.3m | ▲ 268% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 29.9% |
| Taxes450/3 | - | - | - | €0.2m | €0.2m | €0.08m | €0.08m | €0.1m | ▲ 70.0% |
| Remuneration and social security454/9 | - | - | - | €0.08m | €0.09m | €0.09m | €0.09m | €0.08m | ▼ 4.2% |
| Other amounts payable47/48 | - | - | - | €0.007m | €20 | €20 | €20 | €20 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.4m | €0.4m | €0.9m | €0.7m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 26.2% |
| + Depreciation and write-downs630 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 4.7% |
| Operating cash flow (approximation) | €0.5m | €0.5m | €1.0m | €0.9m | €0.8m | €0.7m | €0.8m | €0.6m | ▼ 22.0% |
| Investment in fixed assets (approximation) | - | -€0.06m | -€0.7m | -€0.1m | -€0.009m | -€0.2m | -€0.8m | -€0.04m | ▲ 95.7% |
| Change in cash | - | €0.09m | €0.6m | -€0.5m | -€0.2m | €0.2m | -€0.1m | €0.4m | - |
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, 20,136 companies had the same profile as Combi 2000 has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of Combi 2000 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 20,136 companies, not a prediction for Combi 2000. 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 48 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 19-05-2026 | 2026-00113643 | |
| 31-12-2024 | abbreviated format | 01-07-2025 | 2025-00205536 | |
| 31-12-2023 | abbreviated format | 11-06-2024 | 2024-00120570 | |
| 31-12-2022 | abbreviated format | 16-06-2023 | 2023-00130247 | |
| 31-12-2021 | abbreviated format | 16-06-2022 | 2022-20066372 | |
| 31-12-2020 | abbreviated format | 08-06-2021 | 2021-17800338 | |
| 31-12-2019 | abbreviated format | 30-07-2020 | 2020-35800483 | |
| 31-12-2018 | abbreviated format | 16-07-2019 | 2019-32800094 | |
| 31-12-2017 | abbreviated format | 28-06-2018 | 2018-23600504 | |
| 31-12-2016 | abbreviated format | 08-08-2017 | 2017-41500031 |
Board & ownership
Directors
Directors
2 directors, 2 in day-to-day management, last change in 2023
Board 2
Fierens Paul
Current
Director (not named in the articles) · since 06-06-2023 · earlier director, until 16-06-2023 · listed in the 2025 annual accounts, filed on 19-05-2026
Van Gijzen Frans
Current
Director (not named in the articles) · since 06-06-2023 · earlier director, until 16-06-2023 · listed in the 2025 annual accounts, filed on 19-05-2026
Day-to-day management 2
Fierens Paul
Current
Managing director · appointed in the act of 16-06-2023
Van Gijzen Frans
Current
Managing director · appointed in the act of 16-06-2023
Owners and capital
Capital transactions
Capital over time
- 26-08-2026 Capital reduction of €198,774.76 · in a demerger
- 16-06-2023 Capital stated in the deed · €380,920 · 400 shares
Mandate history
2 people, 2 in office
- Board
- Day-to-day management
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| Fierens Paul |
|
| Van Gijzen Frans |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 3 directorsTerm of at most 6 years
Audit, dissolution and liquidation
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Uitspraak rechter,besluit buitengewone algemene vergadering, blijft na ontbinding van rechtswege als rechtspersoon voortbestaan voor…”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Algemene vergadering bij eenvoudige meerderheid, bestuursorgaan van rechtswege”
Articles of association, deed of 16-06-2023 (in Dutch)
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- GENERAL SERVICES BEVERENsubsidiarySourceown accounts 2025Equity €502,310 Loss of €12,693 in 2025 (loss of €103,990 in 2024) Checked score 69100%
Board mandates elsewhere
1 board mandateBoard mandates of Combi 2000Combi 2000 sits on their board1
1 location
Acquisitions and mergers
1 transactionSplit off to:COMBI 3000
Connections & network
2 current directorsThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
This company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
26-08
Gazette deed
Demerger: COMBI 2000 splits off to COMBI 3000Capital decrease of €198,774.76 · Fierens Paul holds 1,500 shares · Van Gijzen Frans holds 1,500 shares6 points ▸
Gazette deed
Demerger: COMBI 2000 splits off to COMBI 3000
Capital decrease of €198,774.76 · Fierens Paul holds 1,500 shares · Van Gijzen Frans holds 1,500 shares6 points ▸
- General meeting, 07-07-2026
- Fierens Paul holds 1,500 shares
- Van Gijzen Frans holds 1,500 shares
- Accounting effect, 01-01-2026
- Capital decrease, €198,774.76
- Capital, €182,145.24, 400 shares
- The act holds 20 more points.
22-05
Gazette deed
Demerger proposal: Combi 2000 splits off to Combi 30003 points ▸
Gazette deed
Demerger proposal: Combi 2000 splits off to Combi 3000
3 points ▸
- Accounting effect, 01-01-2026
- General meeting, 29-06-2026
- Board meeting, 08-05-2026
- The act holds 14 more points.
19-05
abbreviated format · 73 days before the deadline
2025
01-07
abbreviated format · 30 days before the deadline
2024
11-06
abbreviated format · 50 days before the deadline
2023
16-06
Gazette deed
2 directors appointed, 2 directors resigning, 2 reappointedChanges of role: Fierens Paul (managing director) and Van Gijzen Frans (managing director) · Reappointments: Fierens Paul (director) and Van Gijzen Frans (director) · Capital €380,920, 400 shares12 points ▸
Gazette deed
2 directors appointed, 2 directors resigning, 2 reappointed
Changes of role: Fierens Paul (managing director) and Van Gijzen Frans (managing director) · Reappointments: Fierens Paul (director) and Van Gijzen Frans (director) · Capital €380,920, 400 shares12 points ▸
- Capital, €380,920, 400 shares
- General meeting, 06-06-2023
- Director resignation, Fierens Paul (director)
- Director resignation, Van Gijzen Frans (director)
- Director reappointment, Fierens Paul (director (not named in the articles))
- Director reappointment, Van Gijzen Frans (director (not named in the articles))
- Director discharge, Fierens Paul
- Director discharge, Van Gijzen Frans
- Board meeting, 06-06-2023
- Director appointment, Fierens Paul (managing director)
- Director appointment, Van Gijzen Frans (managing director)
- Registered office clause, 9100 Sint-Niklaas Van Naemenstraat 19 bus D
- The act holds 3 more points.
16-06
abbreviated format · 45 days before the deadline
2022
31-12
Financial
Equity above €5mequity €5.2m ▲5.7%
With a profit in every financial year since 2018, equity grows to €5.2m.
16-06
abbreviated format · 45 days before the deadline
2021
08-06
abbreviated format · 53 days before the deadline
2020
31-12
Financial
Highest result from 2018 to 2025net €896,681 ▲118%
The operating result of €1.3m and the net result of €896,681 are both a record.
30-07
abbreviated format · 1 day before the deadline
Show earlier events
2019
16-07
abbreviated format · 15 days before the deadline
2018
28-06
abbreviated format · 33 days before the deadline
2017
08-08
abbreviated format · 8 days late
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
History
Company details
Register details
Identity
KBO recordName
Combi 2000 in Dutch
Enterprise number
0407.654.277
Legal form
Public limited company
Status
Active, normale toestand
Founded
05-12-1970
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 16-06-2023 (in Dutch)Name clauseThe company operates under this name according to its articles.
“Combi 2000”
deed of 22-05-2026 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Van Naemenstraat 19D, 9100 Sint-Niklaas”
deed of 22-05-2026 (in Dutch)Registered office and establishments
Registered office
Van Naemenstraat 19, 9100 Sint-Niklaas, Belgium
Establishment units
Hubo Sint-Niklaas, Van Naemenstraat 19, 9100 Sint-Niklaas since 01-01-1971 · unit number 2.102.060.868 46900 Non-specialised wholesale trade
Hubo Stekene, Voorhout(KEM) 38, 9190 Stekene since 01-03-2008 · unit number 2.169.845.161 46190 Agents in non-specialised wholesale trade
Phone
037901818 establishment in Stekene
Fax
037901819 establishment in Stekene
Activities
NACEBEL 2025VAT activities
46832
Wholesale of timber main activity
46620
Wholesale of machine tools
47521
Retail sale of hardware, building materials, paint and glass (general range)
Social security (RSZ) activities
47521
Retail sale of hardware, building materials, paint and glass (general range) main activity
Codes under NACEBEL 2008
VAT activities
46732
Wholesale trade main activity
46620
Wholesale of machine tools
47521
Retail trade
Social security (RSZ) activities
47521
Retail trade main activity
Codes under NACEBEL 2003
VAT activities
51531
main activity
51810
52461
Social security (RSZ) activities
52462
main activity
Joint committees
201 Paritair Comité voor de zelfstandige kleinhandel
126 Paritair Comité voor de stoffering en de houtbewerking
100 Aanvullend Paritair Comité voor de werklieden annual accounts 2025
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 22-05-2026 (in Dutch)
“De handel, onder welke vorm ook, invoer uitvoer, vertegenwoordiging, agentuur, makelarij, commissie, vertegenwoordiging, consignatie, in…”
4 activities
- De handel, onder welke vorm ook, invoer uitvoer, vertegenwoordiging, agentuur, makelarij, commissie, vertegenwoordiging, consignatie, in huur geven of nemen inbegrepen van alle voorwerpen, waren, producten, goederen, uitrustingen, instrumenten, materialen, onderdelen, toestellen, bedekkingen, gereedschappen, hulpstoffen, werktuigen die rechtstreeks of onrechtstreeks worden gebruikt en enkel dienstig kunnen zijn bij de oprichting, de afwerking, de omvorming of de verfraaiing van alle onroerende en roerende goederen.
- De vennootschap zal zowel in het buitenland als in het binnenland door middel van inbreng, fusie, inschrijving, borgstelling, financiële tussenkomst of om het even welke andere wijze, mogen deelnemen aan alle verenigingen, ondernemingen of vennootschappen die, geheel of gedeeltelijk een gelijkaardig, gelijklopend of bijhorend voorwerp nastreven of die eenvoudig nuttig zijn of kunnen worden tot gehele of gedeeltelijke verwezenlijking van haar voorwerp.
- De vennootschap zal bevoegd zijn alle handeling zonder uitzondering te verrichtingen die daartoe noodzakelijk, nuttig of zelfs alleen maar bevorderlijk zijn.
- De vennootschap handelt ofwel in haar eigen naam en voor eigen rekening, ofwel in naam en voor rekening van derden, ofwel in deelneming met derden.
Invoicing and payment
VAT number
BE 0407.654.277
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Recognitions · licences · registrations
Food safety, FASFC
2 sitesSint-Niklaasunit number 2.102.060.868
Stekeneunit number 2.169.845.161
Dual-learning approval
13 live approvals · 18 endedCommercieel assistent (vwo)
Commercieel assistent duaal (so)
Commerciële organisatie duaal (so)
Logistiek duaal (so)
Logistiek duaal (so)
Magazijnmedewerker (vwo)
Show 7 more
Magazijnmedewerker (vwo)
Magazijnmedewerker duaal (so)
Magazijnmedewerker duaal (so)
Winkelmedewerker (vwo)
Winkelmedewerker (vwo)
Winkelmedewerker duaal (so)
Winkelmedewerker duaal (so)
Show 18 ended approvals
Magazijnmedewerker (vwo)
Magazijnmedewerker duaal (so)
Winkelmedewerker (vwo)
Winkelmedewerker duaal (so)
Aanvuller (so)
Kassier (so)
Logistiek duaal (so)
Magazijnmedewerker (so)
Magazijnmedewerker (so)
Magazijnmedewerker (so)
Magazijnmedewerker (vwo)
Magazijnmedewerker duaal (so)
Verkoper (so)
Winkelbediende (so)
Winkelbediende (so)
Winkelbediende (so)
Winkelmedewerker (vwo)
Winkelmedewerker duaal (so)
Environmental permits
1 application in Flanders since 2019 · 1 granted
Nieuwbouw of aanleggen; Ontbossen; Slopen van niet vrijstaande gebouwen of constructies; Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden
Source: Omgevingsloket Vlaanderen.
Sites & property
Location
Buildings and parcels at the addresses
Ground area
8,048 m²
Building footprint
3,187 m²
Building volume
13,991 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 46011A0563/00K000 | Flanders | 8,048 m² | 1 · 3,187 m² | 18.9 m · 2 |