COMBO
ActiveSummary
COMBO has been active since 2006 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.0m and a net result of €107,904. Equity fluctuates too strongly from year to year to read a trend from it. The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 14-11-2006 Normal situation
- Registered office
- 12 active companies are registered at this address Source: KBO register, as of 4 November 2026.
- Activity
- “Toutes transactions commerciales à savoir l'achat, ta vente, l'importation, l'exportation, la représentation, la distribution…” (deed in French)From the articles, 11 activitiesNo NACE code in the KBO yet
- Establishment unit
- 2.159.398.954 4030 Liège, since 14-11-2006
- Financial year end
- 31 December
- Peppol
- Reachable since 05-09-2025
Board and ownership
Board
- SRX HOLDINGDirector · permanent representative SEREXHE Bernard Paul
Shareholders
- Holdings
- Shares in 1 company CG INVEST
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
Annual accounts 2025
- Gross margin
- €445,775
- ▲ 10.7%
- Turnover
- ≈ €1.1m
- estimated
- Profit
- €107,904
- ▲ 57.5%
- Equity
- €2.0m
- ▲ 5.6%
- Total assets
- €5.7m
- ▲ 4.8%
- 2025 accounts filed 52 days after the deadline
Score breakdownraises riskLast filed accounts filed 52 days late; 2 of the last 3 accounts lateLiquidity: current ratio 1.87, cash €62,745lowers riskSize: total assets €5.7mFigures for financial year 2025 (filed on 21-09-2026)Show the evidence
Checked score
Score 2025
89
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 48% of small companies without a NACE code
Financial strength · tick: 2024
Average
Solvency
61=
equity 36.0% of total assets
Liquidity
38-1
short-term debt 31.3% · cash 1.1%
Profitability
61+13
return on assets 1.9%
Bankruptcy probability within 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.1%▼ -0.3 percentage points vs 03-2025lowest value
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.2%▲ +0.1 percentage points vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.4%▲ +0.2 percentage points vs 07-2025
09-2025: 0.5%▲ +0.1 percentage points vs 08-2025
10-2025: 0.8%▲ +0.3 percentage points vs 09-2025
11-2025: 0.8%● unchanged vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.9%▲ +0.1 percentage points vs 12-2025
02-2026: 0.9%● unchanged vs 01-2026
03-2026: 0.9%● unchanged vs 02-2026highest value
04-2026: 0.9%● unchanged vs 03-2026
05-2026: 0.8%▼ -0.1 percentage points vs 04-2026
06-2026: 0.8%● unchanged vs 05-2026
07-2026: 0.8%● unchanged vs 06-2026
08-2026: 0.2%▼ -0.6 percentage points vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Credit of up to €180,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.87 (2.02 in 2024), above the usual 1.5. Short-term debt is 31.3% and cash 1.1% of total assets. However, 64% 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 (no NACE code, small). It does better than 37% of them on solvency, 25% on liquidity, 62% on profitability and 69% 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).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 52 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-09-2026, 52 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
52 days late
2024
61 days late
2023
30 days late
2022
31 days late
2021
30 days late
2020
31 days late
2019
55 days late
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 7 accounts on average 41 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were 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 31 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
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 21-09-2026 at the NBB all 19 filings
Turnover
≈ €1.1m
Estimated: probably between €630,000 and €1.8m
EBIT margin
Not included in this filing
Net result
€107,904▲ 57.5%
2024 · €68,499
Working capital
€1.6m▲ 2.8%
2024 · €1.5m
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€220,041
▲ 36.8%
2025
20182025
Net result
€107,904
▲ 57.5%
2025
20182025
Equity
€2.0m
▲ 5.6%
2025
20182025
Total assets
€5.7m
▲ 4.8%
2025
20182025
Debt
€3.6m
▲ 4.3%
2025
20182025
Working capital
€1.6m
▲ 2.8%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.08m-€0.2m▲ 215%€0.2m▼ 34.1%€0.06m▼ 59.6%€0.1m▲ 48.8%€1.6m▲ 17×€0.2m▼ 90.1%€0.2m▲ 36.8%
Net result€0.04m-€0.2m▲ 404%€0.08m▼ 60.2%€0.02m▼ 73.8%€0.03m▲ 39.5%€1.5m▲ 54×€0.07m▼ 95.4%€0.1m▲ 57.5%
Equity€0.06m-€0.3m▲ 308%€0.3m▲ 30.0%€0.3m▲ 6.1%€0.4m▲ 8.0%€1.9m▲ 397%€1.9m▲ 3.7%€2.0m▲ 5.6%
Total assets€2.3m-€2.5m▲ 9.3%€2.4m▼ 4.4%€2.6m▲ 7.5%€3.6m▲ 40.0%€5.3m▲ 45.4%€5.4m▲ 3.0%€5.7m▲ 4.8%
Debt€2.2m-€2.3m▲ 1.1%€2.1m▼ 8.3%€2.2m▲ 7.8%€3.2m▲ 44.9%€3.4m▲ 4.7%€3.5m▲ 2.6%€3.6m▲ 4.3%
Working capital-€0.2m-€0.03m€0.1m▲ 390%€0.04m▼ 73.9%-€0.6m€1.2m€1.5m▲ 30.3%€1.6m▲ 2.8%
The operating result for 2025 is 37% higher than in 2024. It is a recovery after the fall in 2024.
Large changes and their cause
- 2024 Net result -95% on 2023. The accounts now follow the micro format, last year the full format.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.7m
Fixed assets
€2.4m ▼ 3.2%
Current assets
€3.3m ▲ 11.3%
Equity and liabilities €5.7m
Equity
€2.0m ▲ 5.6%
Debt
€3.6m ▲ 4.3%
Debt's share of the balance-sheet total falls from 64.2% to 64.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€379,650▲
2024 · €311,880
Cash flow
€267,512▲
2024 · €219,516
Current ratio
1.87▼
2024 · 2.02
Debt to equity
1.78▼
2024 · 1.80
ROE
5.3%▲
2024 · 3.5%
ROA
1.9%▲
2024 · 1.3%
Interest coverage
4.78▲
2024 · 3.38
Debt ≤ 1 year
€1.8m▲
2024 · €1.5m
Debt > 1 year
€1.9m▼
2024 · €2.0m
Income taxes
€32,640
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €433,377 | €76,616 | €586,457 | €111,501 | €81,874 |
| Financial fixed assets | - | €750,000 | - | - | €0 |
| Depreciation and write-downs of the year | €188,370 | €116,831 | €181,631 | €151,017 | €159,608 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €1.6m | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 5.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.03m | €0.05m | - | €0.02m | €0.006m | ▼ 68.0% |
| Other operating charges640/8 | - | - | - | €0.05m | €0.05m | €0.06m | €0.07m | €0.06m | ▼ 17.0% |
| Non-recurring operating charges66A | - | - | - | €0.02m | - | - | - | - | - |
| Gross operating margin9900 | €0.2m | €0.4m | €0.4m | €0.3m | €0.3m | €1.9m | €0.4m | €0.4m | ▲ 10.7% |
| Operating profit (loss)9901 | €0.08m | €0.2m | €0.2m | €0.06m | €0.1m | €1.6m | €0.2m | €0.2m | ▲ 36.8% |
| Financial income75/76B | - | - | - | €376 | €0 | - | €0 | - | - |
| Recurring financial income75 | €0.001m | €1 | €0 | €376 | €0 | - | €0 | - | - |
| Non-recurring financial income76B | - | - | - | - | - | - | €0 | - | - |
| Financial charges65/66B | - | - | - | €0.04m | €0.06m | €0.1m | €0.09m | €0.08m | ▼ 13.9% |
| Recurring financial charges65 | €0.04m | €0.04m | €0.05m | €0.04m | €0.06m | €0.1m | €0.09m | €0.08m | ▼ 13.9% |
| Profit (loss) for the period before taxes9903 | €0.04m | €0.2m | €0.1m | €0.02m | €0.03m | €1.5m | €0.07m | €0.1m | ▲ 105% |
| Income taxes67/77 | - | €0.01m | €0.03m | €0.002m | €0.004m | - | - | €0.03m | - |
| Profit (loss) for the period9904 | €0.04m | €0.2m | €0.08m | €0.02m | €0.03m | €1.5m | €0.07m | €0.1m | ▲ 57.5% |
| Profit (loss) for the period to be appropriated9905 | €0.04m | €0.2m | €0.08m | €0.02m | €0.03m | €1.5m | €0.07m | €0.1m | ▲ 57.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.3m | €2.5m | €2.4m | €2.6m | €3.6m | €5.3m | €5.4m | €5.7m | ▲ 4.8% |
| Fixed assets21/28 | €2.2m | €2.0m | €1.9m | €2.1m | €2.8m | €2.5m | €2.4m | €2.4m | ▼ 3.2% |
| Tangible fixed assets22/27 | €2.2m | €2.0m | €1.9m | €2.1m | €2.1m | €2.5m | €2.4m | €2.4m | ▼ 3.2% |
| Land and buildings22 | - | - | - | €2.1m | €2.1m | €2.5m | €2.4m | €2.4m | ▼ 3.2% |
| Financial fixed assets28 | - | - | - | - | €0.8m | - | - | - | - |
| Current assets29/58 | €0.1m | €0.5m | €0.5m | €0.5m | €0.8m | €2.8m | €3.0m | €3.3m | ▲ 11.3% |
| Stocks and contracts in progress3 | - | €0.09m | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.1m | €0.4m | €0.3m | €0.4m | €0.8m | €2.8m | €3.0m | €3.3m | ▲ 9.3% |
| Trade receivables40 | - | - | - | €0.07m | €0.03m | €0.03m | €0.03m | €0.02m | ▼ 39.4% |
| Other amounts receivable41 | - | - | - | €0.3m | €0.7m | €2.7m | €3.0m | €3.2m | ▲ 9.8% |
| Cash at bank and in hand54/58 | €0.04m | €0.03m | €0.2m | €0.1m | €0.04m | €0.02m | €0.005m | €0.06m | ▲ 13× |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.003m | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.3m | €2.5m | €2.4m | €2.6m | €3.6m | €5.3m | €5.4m | €5.7m | ▲ 4.8% |
| Equity10/15 | €0.06m | €0.3m | €0.3m | €0.3m | €0.4m | €1.9m | €1.9m | €2.0m | ▲ 5.6% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Profit (loss) carried forward14 | -€0.006m | €0.2m | €0.3m | €0.3m | €0.3m | €1.8m | €1.9m | €2.0m | ▲ 5.8% |
| Amounts payable17/49 | €2.2m | €2.3m | €2.1m | €2.2m | €3.2m | €3.4m | €3.5m | €3.6m | ▲ 4.3% |
| Amounts payable after more than one year17 | €1.9m | €1.8m | €1.7m | €1.8m | €1.9m | €1.8m | €2.0m | €1.9m | ▼ 7.2% |
| Financial debts170/4 | - | - | - | €1.8m | €1.9m | €1.8m | €2.0m | €1.9m | ▼ 7.2% |
| Amounts payable within one year42/48 | €0.3m | €0.5m | €0.4m | €0.4m | €1.4m | €1.6m | €1.5m | €1.8m | ▲ 19.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 2.9% |
| Financial debts43 | - | - | - | €0.1m | €1.0m | €0.8m | €0.2m | €0.8m | ▲ 252% |
| Credit institutions430/8 | - | - | - | €0.1m | €1.0m | €0.8m | €0.2m | €0.8m | ▲ 252% |
| Trade debts44 | €0.002m | €0.2m | €0.05m | €0.06m | €0.2m | €0.2m | €0.1m | €0.03m | ▼ 78.5% |
| Suppliers440/4 | - | - | - | €0.06m | €0.2m | €0.2m | €0.1m | €0.03m | ▼ 78.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.004m | - | - | €0.03m | - |
| Taxes450/3 | - | - | - | €0.03m | €0.004m | - | - | €0.03m | - |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.03m | €0.5m | €1.0m | €0.8m | ▼ 22.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.04m | €0.2m | €0.08m | €0.02m | €0.03m | €1.5m | €0.07m | €0.1m | ▲ 57.5% |
| + Depreciation and write-downs630 | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 5.7% |
| Operating cash flow (approximation) | €0.2m | €0.3m | €0.2m | €0.2m | €0.1m | €1.7m | €0.2m | €0.3m | ▲ 21.9% |
| Investment in fixed assets (approximation) | - | €0.01m | €0.02m | -€0.4m | -€0.8m | €0.2m | -€0.1m | -€0.08m | ▲ 26.6% |
| Change in cash | - | -€0.01m | €0.2m | -€0.1m | -€0.07m | -€0.02m | -€0.02m | €0.06m | - |
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, 6,049 companies had the same profile as COMBO has now. Two years later, 95.9% were still going and 0.4% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.9%
was still going
3.6%
stopped otherwise
0.4%
went bankrupt
That fits the bankruptcy probability of COMBO itself: 0.2% 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 6,049 companies, not a prediction for COMBO. 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 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 21-09-2026 | 2026-00517354 | |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00514393 | |
| 31-12-2023 | full format | 30-08-2024 | 2024-00407546 | |
| 31-12-2022 | full format | 31-08-2023 | 2023-00391399 | |
| 31-12-2021 | full format | 30-08-2022 | 2022-20348297 | |
| 31-12-2020 | full format | 31-08-2021 | 2021-58300116 | |
| 31-12-2019 | full format | 24-09-2020 | 2020-55000510 | |
| 31-12-2018 | full format | 13-08-2019 | 2019-46000013 | |
| 31-12-2017 | full format | 28-08-2018 | 2018-55700099 | |
| 31-12-2016 | full format | 31-05-2017 | 2017-15300021 |
Board & ownership
Directors
Directors
1 director, last change in 2026
Board 1
SRX HOLDING
Current
Director (not named in the articles) · appointed in the act of 23-10-2026 · term without a fixed end · Private limited company · permanent representative: SEREXHE Bernard Paul · also on the board of 3 other companies · listed in the 2025 annual accounts, filed on 21-09-2026
Permanent representatives 1
SEREXHE Bernard Paul
Current
Permanent representative · appointed in the act of 23-10-2026 · for SRX HOLDING
Signing authorityThe articles say who may bind the company, for example by signing a contract.
deed of 23-10-2026
“Article 20. Représentation de la société. Sans préjudice aux pouvoirs conférés aux mandataires spéciaux et à ce qui est prévu pour la…”
“Article 20. Représentation de la société. Sans préjudice aux pouvoirs conférés aux mandataires spéciaux et à ce qui est prévu pour la…”
Full text
Article 20. Représentation de la société. Sans préjudice aux pouvoirs conférés aux mandataires spéciaux et à ce qui est prévu pour la gestion joumalière, la société est représentée à l'égard des tiers et notamment dans les actes auxquels un fonctionnaire public ou un officier ministériel prête son concours ainsi qu'en justice, tant en demandant qu'en défendant, par deux administrateurs, agissant conjointement, et qui n'auront, en aucun cas, à justifier d'une décision préalable du conseil d'administration.
Owners and capital
Shareholders
2 ownersOwners 2
- Equity €102,261 Loss of €17,942 in 2025 (profit of €14,825 in 2024) Checked score 6850%
- Equity €1.4m Profit of €272,032 in 2025 (profit of €17,334 in 2024) Checked score 9149.67%
Capital transactions
Shareholders according to the deeds
Stated in the act
act of 02-07-2026 ↗
- Ormond s.r.l. 150 shares · 50%
- Truxmore s.r.l. (BE 0778.859.619) 150 shares · 50%
Share transfer
act of 02-07-2026 ↗
- Truxmore s.r.l. (BE 0778.859.619) to Ormond s.r.l. 1 share
Capital over time
- 23-10-2026 Capital reduction of €39,489.98 · to €22,010.02 · “transmission d'un ensemble de biens immobiliers et d'autres actifs et passifs à la société bénéficiaire”
- 23-10-2026 Capital increase of €39,489.98 · to €61,500 · no new shares · from reserves
- 02-07-2026 Capital stated in the deed · €61,500 · 300 shares
Mandate history
3 people, 1 in office
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| SRX HOLDING |
|
| MATOUL Pierre |
|
| SEREXHE Bernard Paul |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “OPTION 1: Administrateur unique, par l'assemblée générale”“À un ou plusieurs directeurs et autres agents, actionnaires ou non, agissant soit seuls soit deux à deux, soit conjointement”“Le conseil d'administration élit parmi ses membres un Président”“Au lieu indiqué dans les convocations, chaque fois que l'intérêt de la société l'exige ou chaque fois que deux administrateurs au moins le…”“Conseil d'administration - délibération, moitié au moins de ses membres présents ou représentés”“Conseil d'administration - décisions, majorité des voix, sans tenir compte des abstentions”“Conseil d'administration - procès verbaux, signées par le Président ou par deux administrateurs”“Conseil d'administration - gestion journalière, à un ou plusieurs administrateurs agissant soit seuls, soit deux à deux, soit conjointement…”“Indemnités, à l'occasion de chaque nomination, l'assemblée générale décide si et dans quelle mesure le mandat d'administrateur sera rémunéré…”
- Share issue ruleThe articles set how and by whom new shares are issued.
- “Augmentation capital, sauf s'il décide que les actionnaires ayant exercé pour totalité leur droit de souscription préférentielie pourront à…”
Articles of association, deed of 23-10-2026 (in French)
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- Equity €2.6m Loss of €52,960 in 2025 (loss of €157,436 in 2024) Checked score 9249.98%
Acquisitions and mergers
1 transactionSplit off to:APEX
Companies at the same address
11 other companies- IN THE BOX Registered office · since 2024 1017205148
- SRX FAWEUX Registered office · since 2024 1011041391
- SRX HOLDING Registered office · since 2023 0797233793
- ABIAN BALI.EU Registered office · since 2019 0479168518
- 2M TRENDS Registered office · since 2010 0825267783
- ORMOND Registered office · since 2005 0870442762
- ORTHUS Registered office · since 2004 0870800672
- IMMOBOUILLE Registered office · since 2000 0464154304
- A.M.A. ALLEUR Registered office · since 1997 0460083668
- BOSE AUTOMOBILES Registered office · since 1994 0452812628
Connections & network
4 connected companiesThis company
Company
Director
Shareholding
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Linked via shared directors
A.M.A. ALLEUR
Shared corporate director
→
IN THE BOX
Shared corporate director
→
SRX FAWEUX
Shared corporate director
→
Traiteur Yvon
Shared corporate director
→
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
23-10
Gazette deed
Demerger: COMBO splits off to APEXCapital from €61,500 to €22,010.02 · Capital from €22,010.02 to €61,500 · Resignations: MATOUL Pierre (director) and SEREXHE Bernard Paul (director)10 points ▸
Gazette deed
Demerger: COMBO splits off to APEX
Capital from €61,500 to €22,010.02 · Capital from €22,010.02 to €61,500 · Resignations: MATOUL Pierre (director) and SEREXHE Bernard Paul (director)10 points ▸
- General meeting, 29-09-2026, mentioned 2 times in the deed
- Capital decrease, €39,489.98
- Capital increase, €39,489.98
- Capital, €61,500, 300 shares
- Director resignation, MATOUL Pierre (director), mentioned 2 times in the deed
- Director resignation, SEREXHE Bernard Paul (director), mentioned 2 times in the deed
- Permanent representative, SEREXHE Bernard Paul, mentioned 3 times in the deed
- Director appointment, SRX HOLDING (director (not named in the articles))
- Shareholder, ORMOND (actionnaire)
- Shareholder, TRUXMORE (actionnaire)
- The act holds 8 more points.
21-09
abbreviated format · 52 days late
02-07
Gazette deed
Demerger proposal: COMBO splits off to APEXTransfer of 1 share from Truxmore s.r.l. to Ormond s.r.l. · Permanent representative: Pierre MATOUL · Ormond s.r.l. holds 150 shares (50%)12 points ▸
Gazette deed
Demerger proposal: COMBO splits off to APEX
Transfer of 1 share from Truxmore s.r.l. to Ormond s.r.l. · Permanent representative: Pierre MATOUL · Ormond s.r.l. holds 150 shares (50%)12 points ▸
- Incorporation, 08-11-2006
- Registered-office move, rue de Fétinne n° 81 à 4020 Liège
- Registered-office move, rue des Trois Grands n° 39 à 4030 Grivegnée, mentioned 2 times in the deed
- Capital, €61,500, 300 shares, mentioned 2 times in the deed
- Ormond s.r.l. holds 150 shares (50%), mentioned 2 times in the deed
- Truxmore s.r.l. holds 150 shares (50%), mentioned 2 times in the deed
- Share transfer, Truxmore s.r.l. → Ormond s.r.l., 1 share
- Capital, €6,129.48, 400 shares
- Truxmore s.r.l. holds 400 shares (100%)
- Director in office, Truxmore s.r.l. (director)
- Permanent representative, Pierre MATOUL (représentant permanent de la société)
- Capital, €6,129.48, 2,900 shares
- The act holds 49 more points.
2025
31-12
Financial
Equity above €2mequity €2.0m ▲5.6%
With a profit in every financial year since 2018, equity grows to €2.0m.
30-09
micro format · 61 days late
2024
30-08
full format · 30 days late
2023
31-12
Financial
Highest result from 2018 to 2025net €1.5m ▲5,282%
The operating result of €1.6m and the net result of €1.5m are both a record.
31-12
Financial
Liquidity more than doubledcurrent ratio 1.71
The current ratio rises from 0.59 to 1.71.
31-12
Financial
Equity above €1mequity €1.9m ▲397%
With a profit in every financial year since 2018, equity grows to €1.9m.
31-08
full format · 31 days late
28-03
Gazette deed
Registered office moved from Liège to GrivegnéeNew seat: rue des Trois Grands n° 39 à 4030 Grivegnée · Previous seat: rue de Fétinne n° 81 à 4020 Liège3 points ▸
Gazette deed
Registered office moved from Liège to Grivegnée
New seat: rue des Trois Grands n° 39 à 4030 Grivegnée · Previous seat: rue de Fétinne n° 81 à 4020 Liège3 points ▸
- General meeting, 16-03-2023
- Registered-office move, rue des Trois Grands n° 39 à 4030 Grivegnée
- Director in office, Bernard SEREXHE (director)
- The act holds 1 more point.
2022
30-08
full format · 30 days late
Show earlier events
2021
31-12
Financial
Weakest financial yearnet €19,910 ▼73.8%
The net result drops to €19,910, the lowest from 2018 to 2025. It recovers the following year.
31-08
full format · 31 days late
2020
24-09
full format · 55 days late
2019
31-12
Financial
Liquidity more than doubledcurrent ratio 1.06
The current ratio rises from 0.47 to 1.06.
31-12
Financial
Equity above €200,000equity €252,700 ▲308%
With a profit in every financial year since 2018, equity grows to €252,700.
13-08
full format · 13 days late
2018
28-08
full format · 28 days late
2017
31-05
full format · 61 days before the deadline
2006
23-11
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
COMBO in French
Enterprise number
0884.964.751
Legal form
Public limited company
Status
Active, normale toestand
Founded
14-11-2006
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 23-10-2026 (in French)Registered office and establishments
Registered office
Rue des Trois-Grands 39, 4030 Liège, Belgium
4 former offices
- rue de Fétinne n° 81, 4020 Liège until 16-03-2023 · act of 02-07-2026
- rue de Fétinne n° 81, 4020 Liège until 25-10-2018 · act of 02-07-2026
- rue des Pipiers n° 35, 4030 Grivegnée until 25-10-2018 · act of 02-07-2026
- rue des Pipiers n° 35, 4030 Grivegnée until 06-06-2011 · act of 02-07-2026
Establishment unit
COMBO s.a., Rue des Trois-Grands 39, 4030 Liège since 14-11-2006 · unit number 2.159.398.954 68110 Buying and selling of own real estate
Activities
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 23-10-2026 (in French)
“Toutes transactions commerciales à savoir l'achat, ta vente, l'importation, l'exportation, la représentation, la distribution, le courtage…”
11 activities
- Toutes transactions commerciales à savoir l'achat, ta vente, l'importation, l'exportation, la représentation, la distribution, le courtage, le franchising, relatives à toutes marchandises, produits et services de tous genres.
- La réalisation de toutes opérations immobilières et notamment
- L'achat, la vente, l'échange, le courtage, la construction, la démolition, la reconstruction, la transformation, l'exploitation et la gérance de tous immeubles bâtis:
- L'achat, la vente, l'échange, le courtage, la mise en valeur, le lotissement, l'exploitation, la location et l'affermage de tous immeubles non bâtis;
- La gestion de toutes sociétés commerciales berges ou étrangères;
- Tous investissements et opérations financières ayant un rapport avec son objet ou de nature à favoriser ses intérêts ou encore à concourir au placement de ses propres capitaux.
- La société peut accomplir toutes opérations généralement quelconques, commerciales, industrielles.
- Financières, mobilières ou immobilières, se rapportant directement ou indirectement à son objet.
- Elle peut s'intéresser, par voie d'apport, de cession, de fusion, de souscription, de prise de participation ou toute autre forme d'investissement en titres ou droits mobiliers, d'intervention financière ou autrement, dans toutes affaires, entreprises, associations ou sociétés ayant un objet identique, analogue, similaire ou connexe ou de nature à favoriser le développement de son entreprise, à lui procurer des matières premières ou à faciliter l'écoulement de ses produits et services.
- La société peut se porter caution et donner toute sûreté, personnelle ou réelle, en faveur de toute personne ou société, liée ou non.
- La société peut exercer les fonctions d'administrateur, de gérant ou de liquidateur dans d'autres sociétés.
Invoicing and payment
VAT number
BE 0884.964.751
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Monday of June at 19:00
deed of 23-10-2026 (in French)Meeting accessThe articles set who may attend the meeting and what is needed to be admitted.
“Cinq jours francs avant la date fixée pour cette dernière, l'organe d'administration peut exiger que les propriétaires d'actions nominatives…”
deed of 23-10-2026 (in French)Proxy ruleThe articles set whether a shareholder may be represented at the meeting by someone else.
“L'organe d'administration peut arrêter la formule des procurations et exiger que celles-ci soient déposées au lieu indiqué par lui dans un…”
deed of 23-10-2026 (in French)Written decisionsA decision can be taken without a meeting when everyone involved agrees in writing.
“Toutes les décisions qui relèvent du pouvoir de l'assemblée générale, à l'unanimité”
deed of 23-10-2026 (in French)Sites & property
Location
Buildings and parcels at the address
Ground area
1,084 m²
Building footprint
920 m²
Building volume
5,054 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62047C0861/00C007 | Wallonia | 1,084 m² | 1 · 920 m² | 9.4 m · 1 |