Equity
€316,253 from €603,908 in 2017
Equity fell by 48% in 8 years.
COMBLAIN MOTORS
Lifetime
20 annual accounts with figures on one time axis, 45 filings since 1981Gross marginpeak €910,283 (2021)
-not published
Resultlowest -€89,579 (2025)
-€89,579▼ €109,563
Equitypeak €603,908 (2017)
€316,253▼ 22.1%
Debts
€2.2m▲ 25.4%
Staffpeak 12.7 FTE (2024)
12 FTE▼ 5.5%
Board5 names since 2021
4 directorsFil Good and 3 others
Owners
Documentsfilings and deeds
07-08-20267 days late
2025financial year
Loss of €89,579Equity from €405,832 to €316,253Debts from €1.7m to €2.2mInvestments €128,362Cash from €169,206 to €457,827
Key points
from the 2025 annual accountsResult
-€89,579 -€89,579
From profit to loss in 2025, after a profit of €19,983 in 2024.
Debts
€2.2m 87% of the balance sheet
Financial debts 61%Suppliers 14%Taxes and wages 7%Other 18%
Of this, €1.9m falls due within a year.
Investments
€174,946 3.3 × depreciation
Green is investment, beige is depreciation.
Filings
45 annual accounts since 1981
Nine of the last ten came late. The 2020 accounts came latest: 90 days after the end of the period.
Position in the sector
-€89,579
Lower net result than 86% of companies in wholesale trade. Sector median €110,346 · 6,121 companies.
Checked score
68
Healthy
Financially stronger than 21% of small companies in wholesale trade (NACE 46)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 4,376 companies (NACE 46, small).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.7%
01-2025: 0.7%● unchanged vs 12-2024
02-2025: 0.7%● unchanged vs 01-2025
03-2025: 0.7%● unchanged vs 02-2025
04-2025: 0.7%● unchanged vs 03-2025
05-2025: 0.7%● unchanged vs 04-2025
06-2025: 0.7%● unchanged vs 05-2025
07-2025: 0.9%▲ +0.2 percentage points vs 06-2025
08-2025: 1.3%▲ +0.4 percentage points vs 07-2025highest value
09-2025: 0.5%▼ -0.8 percentage points vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.5%● unchanged vs 03-2026lowest value
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 1.0%▲ +0.5 percentage points vs 07-2026
09-2026: 0.6%▼ -0.4 percentage points vs 08-2026
10-2026: 0.6%● unchanged vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Equity €316,253 (12.8% of total assets)
Size: turnover €4.0m, 12 FTE, total assets €2.5m
Loss of €89,579 (financial year 2025)
lowers risk
Founded in 1981
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 15% of them on solvency, 31% on liquidity, 11% on profitability and 27% on growth.
The bankruptcy probability was computed on 05-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 2,507 companies had the same profile as COMBLAIN MOTORS has now. Each dot stands for 7 companies, two years later.
96.4%
were still trading
1.8%
stopped another way
1.6%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of COMBLAIN MOTORS itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,447 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 2,507 companies, not a prediction for COMBLAIN MOTORS. 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.
Credit verdict
Credit of up to €21,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.1 (1.28 in 2024), below the usual 1.5. Short-term debt is 77.8% and cash 18.5% of total assets. 87.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 6188 sector peers (2025).
NBB · sector comparisonPosition among 6188 sector peers
Solvency
better than 15%
← weakest
strongest →
raises risk · 2025 accounts filed 7 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-08-2026, 7 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
7 days late
2024
28 days late
2023
28 days late
2022
29 days late
2021
24 days late
2020
90 days late
2019
87 days late
← 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 after 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 28 August (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
06-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Resignation: MAC MANAGEMENT (director)
General meeting of 26-03-2026 · Gazette deed
1 director resigning
GEHLEN MANAGEMENT · Permanent representatives: Roger GEHLEN, Jean-Marc CORTEIL, Victor Tomas BOSQUIN and Joël FILOT · Director discharge: GEHLEN MANAGEMENT · General meeting of 09-02-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0421453419
Merger: COMBLAIN-MOTORS takes over GREEN-MAT
Resignation: Joël FILOT (manager) · Appointments: SOFABO, FIL GOOD, GEHLEN MANAGEMENT and MAC MANAGEMENT · Permanent representatives: Victor Thomas BOSQUIN, Joël FILOT, Roger GEHLEN and Jean-Marc CORTEIL · General meeting of 21-09-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | Turnover | EBIT margin | Solvency | Staff |
|---|---|---|---|---|
| COMBLAIN MOTORS Sprimont | €4.0m | -1.2% | 12.8% | 12 |
| DOUVE Heuvelland | - | - | 51.6% | 10 |
| RECORD Maldegem | - | - | 48.0% | 17.8 |
| ETABLISSEMENTS ERIC WANSART Vielsalm | - | - | 29.9% | 13.4 |
| ADAM Berlare | - | - | 50.6% | 8.6 |
| VAN BOUWEL, VERKOOP EN SERVICE Kapellen | - | - | 23.3% | 16.9 |
| DENONVILLE Couvin | €2.6m | 3.6% | 46.0% | - |
Grey: the largest companies of the sector (wholesale trade (NACE 46)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as COMBLAIN MOTORS: wholesale trade (NACE 46713). They are comparable in size and age: total assets between €1.1m and €3.9m, founded between 1980 and 1998.
Official details
Source: KBO- Status
- Active since 01-01-1981Normal situation
- Activity
- Wholesale tradeNACE 46713and 6 others
- Joint committees
- 201Independent retail
- 149.04Metal trade · annual accounts 2025
- Establishment unit
- 2.018.764.2954140 Sprimont, since 06-03-2001
- Financial year end
- 31 December
- Peppol
- Reachable since 23-10-2025
Annual accounts 2025
- Total assets
- €2.5m▲ 16.3%
- Employeeson 31-12-2025
- 12▼ 7.7%
- Filing
- Filed on 07-08-2026
Insights on COMBLAIN MOTORS
COMBLAIN MOTORS has existed since 1981. In 2021 the gross margin rose from €401,650 to €910,283.
Solvency fell in 2025 from 19.0% to 12.8% because of the loss.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about COMBLAIN MOTORS
- What is the company number of COMBLAIN MOTORS?
- The company number of COMBLAIN MOTORS is 0421.453.419. The VAT number is the same number with BE in front: BE 0421.453.419.
- Where is COMBLAIN MOTORS based?
- The registered office is at Rue Mathieu Van Roggen 15, 4140 Sprimont.Company details
- What does COMBLAIN MOTORS do?
- According to the KBO register, the main activity is wholesale trade (NACE 46713).
- What is the legal form of COMBLAIN MOTORS?
- COMBLAIN MOTORS is a private limited company (pre-2019) (BVBA).
- When was COMBLAIN MOTORS founded?
- COMBLAIN MOTORS was founded on 01-01-1981.
- Is COMBLAIN MOTORS still active?
- Yes, COMBLAIN MOTORS is an active enterprise in the KBO register.
- How many employees does COMBLAIN MOTORS have?
- COMBLAIN MOTORS had an average of 12 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does COMBLAIN MOTORS fall under?
- In its 2025 annual accounts, COMBLAIN MOTORS states joint committees 201 (Independent retail) and 149.04 (Metal trade).
- What is the turnover of COMBLAIN MOTORS?
- The turnover of COMBLAIN MOTORS was €4.0m in financial year 2025, according to the filed annual accounts.
- Is COMBLAIN MOTORS profitable?
- In financial year 2025, COMBLAIN MOTORS made a loss of €89,579.
- Where can I find the annual accounts of COMBLAIN MOTORS?
- COMBLAIN MOTORS filed 45 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of COMBLAIN MOTORS due?
- COMBLAIN MOTORS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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