Summary
COMBICO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €59,580 and a net result of €119,120. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 33% of 2463 sector peers (fiscal year 2025). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €59,580
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
51 d early
2023
131 d early
2022
34 d early
2021
47 d early
2020
43 d early
2019
59 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 48 days before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed 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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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What changed in the latest annual accounts?What changed Is the workforce growing, and do people stay?Employer check
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Financials · fiscal year 2025, micro schema
Equity
€59,580▲ 191%
2024 · €20,460
Net result
€119,120▲ 182%
2024 · €42,288
Total assets
€199,583▲ 40.1%
2024 · €142,493
Solvency
29.9%▲ 15.5pp
2024 · 14.4%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, 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
Line20212022202320242025
Operating result-€9,258▲ 30.6%€9,345€83,989▲ 799%€55,525▼ 33.9%€162,023▲ 192%
Net result-€9,949below the sector's middle half▲ 30.0%€6,222within the sector's middle half€64,066within the sector's middle half▲ 930%€42,288within the sector's middle half▼ 34.0%€119,120above the sector's middle half▲ 182%
Equity-€19,930below the sector's middle half▼ 99.7%-€13,709below the sector's middle half▲ 31.2%€21,357below the sector's middle half€20,460below the sector's middle half▼ 4.2%€59,580within the sector's middle half▲ 191%
Total assets€385below the sector's middle half▼ 96.9%€746below the sector's middle half▲ 93.8%€81,143below the sector's middle half▲ 10,776%€142,493within the sector's middle half▲ 75.6%€199,583within the sector's middle half▲ 40.1%
Debt€20,315▼ 9.7%€14,455▼ 28.8%€59,785▲ 314%€122,033▲ 104%€140,003▲ 14.7%
Working capital-€19,570below the sector's middle half▼ 103%-€13,361below the sector's middle half▲ 31.7%€21,705within the sector's middle half€7,775within the sector's middle half▼ 64.2%€48,290within the sector's middle half▲ 521%
Solvency-5176.2%below the sector's middle half▼ 5096.4pp-1837.4%below the sector's middle half▲ 3338.8pp26.3%within the sector's middle half▲ 1863.7pp14.4%below the sector's middle half▼ 12.0pp29.9%within the sector's middle half▲ 15.5pp
Current ratio1.37within the sector's middle half1.08within the sector's middle half▼ 0.281.41within the sector's middle half▲ 0.33
Return on assets (ROA)79.0%above the sector's middle half29.7%above the sector's middle half▼ 49.3pp59.7%above the sector's middle half▲ 30.0pp
Staff (FTE)11=
above
within
below
the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, 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
The operating result recovers in 2025; 2025 is 192% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €199,583
Fixed assets
€33,555 ▼ 22.2%
Current assets
€166,029 ▲ 67.1%
Equity and liabilities €199,583
Equity
€59,580 ▲ 191%
Debt
€140,003 ▲ 14.7%
Debt's share of the balance-sheet total falls from 85.6% to 70.1%. Equity and debt are higher.
Key figures and ratios
ROE
199.9%▼
2024 · 206.7%
Debt ≤ 1 year
€117,738▲
2024 · €91,593
Debt > 1 year
€22,265▼
2024 · €30,053
Income taxes
€39,716▲
2024 · €15,558
Staff costs
€40,730▲
2024 · €39,852
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €275 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €39,852 | €40,730 | ▲ 2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €4,083 | €9,571 | ▲ 134% |
| Other operating charges640/8 | €500 | - | €575 | €1,769 | €470 | ▼ 73.4% |
| Gross operating margin9900 | -€8,758 | €9,345 | €84,564 | €101,229 | €212,794 | ▲ 110% |
| Operating profit (loss)9901 | -€9,258 | €9,345 | €83,989 | €55,525 | €162,023 | ▲ 192% |
| Financial income75/76B | - | €21 | €1,997 | €5,159 | €167 | ▼ 96.8% |
| Recurring financial income75 | - | €21 | €1,997 | €5,159 | €167 | ▼ 96.8% |
| Financial charges65/66B | €527 | €512 | €566 | €2,838 | €3,354 | ▲ 18.2% |
| Recurring financial charges65 | €527 | €512 | €566 | €2,838 | €3,354 | ▲ 18.2% |
| Profit (loss) for the period before taxes9903 | -€9,786 | €8,854 | €85,420 | €57,846 | €158,836 | ▲ 175% |
| Income taxes67/77 | €163 | €2,633 | €21,354 | €15,558 | €39,716 | ▲ 155% |
| Profit (loss) for the period9904 | -€9,949 | €6,222 | €64,066 | €42,288 | €119,120 | ▲ 182% |
| Profit (loss) for the period to be appropriated9905 | -€9,949 | €6,222 | €64,066 | €42,288 | €119,120 | ▲ 182% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €385 | €746 | €81,143 | €142,493 | €199,583 | ▲ 40.1% |
| Fixed assets21/28 | - | - | - | €43,125 | €33,555 | ▼ 22.2% |
| Tangible fixed assets22/27 | - | - | - | €40,625 | €31,055 | ▼ 23.6% |
| Furniture and vehicles24 | - | - | - | €40,625 | €31,055 | ▼ 23.6% |
| Financial fixed assets28 | - | - | - | €2,500 | €2,500 | = |
| Current assets29/58 | €385 | €746 | €81,143 | €99,368 | €166,029 | ▲ 67.1% |
| Amounts receivable within one year40/41 | €258 | €42 | €78,293 | €96,408 | €148,902 | ▲ 54.4% |
| Trade receivables40 | - | - | - | - | €42,008 | - |
| Other amounts receivable41 | €258 | €42 | €78,293 | €96,408 | €106,894 | ▲ 10.9% |
| Cash at bank and in hand54/58 | €127 | - | €52 | - | €15,844 | - |
| Deferred charges and accrued income490/1 | - | €704 | €2,797 | €2,960 | €1,282 | ▼ 56.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €385 | €746 | €81,143 | €142,493 | €199,583 | ▲ 40.1% |
| Equity10/15 | -€19,930 | -€13,709 | €21,357 | €20,460 | €59,580 | ▲ 191% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€40,390 | -€34,169 | €897 | - | €39,120 | - |
| Amounts payable17/49 | €20,315 | €14,455 | €59,785 | €122,033 | €140,003 | ▲ 14.7% |
| Amounts payable after more than one year17 | - | - | - | €30,053 | €22,265 | ▼ 25.9% |
| Financial debts170/4 | - | - | - | €30,053 | €22,265 | ▼ 25.9% |
| Amounts payable within one year42/48 | €19,955 | €14,107 | €59,438 | €91,593 | €117,738 | ▲ 28.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,499 | €7,788 | ▲ 3.8% |
| Financial debts43 | - | €1,862 | - | €7,576 | €23,056 | ▲ 204% |
| Credit institutions430/8 | - | €1,862 | - | €1,177 | - | - |
| Other loans439 | - | - | - | €6,399 | €23,056 | ▲ 260% |
| Trade debts44 | - | €4,985 | €6,463 | €6,403 | €1,301 | ▼ 79.7% |
| Suppliers440/4 | - | €4,985 | €6,463 | €6,403 | €1,301 | ▼ 79.7% |
| Taxes, remuneration and social security45 | €202 | €2,776 | €23,975 | €26,928 | €5,593 | ▼ 79.2% |
| Taxes450/3 | €202 | €2,776 | €21,354 | €21,354 | - | - |
| Remuneration and social security454/9 | - | - | €2,621 | €5,574 | €5,593 | ▲ 0.3% |
| Other amounts payable47/48 | €19,753 | €4,484 | €29,000 | €43,186 | €80,000 | ▲ 85.2% |
| Accrued charges and deferred income492/3 | €360 | €348 | €348 | €387 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,949 | €6,222 | €64,066 | €42,288 | €119,120 | ▲ 182% |
| + Depreciation and write-downs630 | - | - | - | €4,083 | €9,571 | ▲ 134% |
| Operating cash flow (approximation) | -€9,949 | €6,222 | €64,066 | €46,371 | €128,690 | ▲ 178% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | - |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Highest result since 2018net €119,120 ▲182%
Operating result €162,023, net result €119,120, both a record.
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
22-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity times 26current ratio 1.37
Current ratio from 0.05 to 1.37.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €6,222
Net result €6,222 after 2 loss-making years.
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€14,222
Net result drops to -€14,222, the lowest in the series; recovery starts the following year.
02-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
02-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 2 days late
2018
16-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 77 days late
2017
24-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 116 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Elsene · 1 establishment unit since 2013
Ground area
284 m²
Building footprint
214 m²
Volume, LiDAR
4,030 m³
Parcel 21444B0129/00B005, Brussels · tallest building 22.5 m, ±7 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
Combico SPRL
since 20132.218.277.954
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21444B0129/00B005 | Brussels | 284 m² | 1 · 214 m² | 22.5 m · 7 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.
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Of 4,673 companies in sector 66220 we hold annual accounts for 3,222. 2,402 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
Founded03-04-2013
Fiscal year end31-12
Activities, NACEBEL 2025
66220Insurance agents and brokers
Contact
E-mail
combico.srl@gmail.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0525700408
Registered
12-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.