COMBORI
ActiveSummary
COMBORI has been active since 1938 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60.7m and a net result of €1.3m. Equity remains stable across the filed financial years (±2.1% per year). Its solvency ranks better than 85% of 6,075 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, full format
Turnover
€30.4m▼ 3.8%
2024 · €31.6m
EBIT margin
4.2%▲ 0.4pp
2024 · 3.7%
Net result
€1.3m▲ 11.0%
2024 · €1.2m
Working capital
€22.4m▲ 5.6%
2024 · €21.3m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 7% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€30.4m
2025
Operating result€1.3m
2025
Net result€1.3m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€75.8m
2025
Equity€60.7m
2025
Debt€15.1m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€22.4m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin4.2%
2025
Return on assets (ROA)1.7%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency80.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio2.50
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)35.9
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€25.4m-€24.8m▼ 2.3%€23.8m▼ 4.3%€28.6m▲ 20.4%€36.1m▲ 26.3%€38.7m▲ 7.2%€31.6m▼ 18.4%€30.4m▼ 3.8%
Operating result€2.4m-€1.4m▼ 42.1%€0.4m▼ 69.2%€1.2m▲ 177%€1.4m▲ 18.8%€1.6m▲ 10.8%€1.2m▼ 25.2%€1.3m▲ 7.0%
Net result€2.3m-€1.4m▼ 40.1%€0.5mabove the sector's middle half▼ 63.4%-€13.8mbelow the sector's middle half€1.0mabove the sector's middle half€1.1mabove the sector's middle half▲ 5.9%€1.2mabove the sector's middle half▲ 5.9%€1.3mabove the sector's middle half▲ 11.0%
EBIT margin9.6%-5.7%▼ 3.9pp1.8%▼ 3.9pp4.2%▲ 2.4pp3.9%▼ 0.2pp4.1%▲ 0.1pp3.7%▼ 0.3pp4.2%▲ 0.4pp
Equity€68.1m-€69.5m▲ 2.0%€70.0mabove the sector's middle half▲ 0.7%€56.1mabove the sector's middle half▼ 19.8%€57.2mabove the sector's middle half▲ 1.9%€58.3mabove the sector's middle half▲ 1.9%€59.4mabove the sector's middle half▲ 2.0%€60.7mabove the sector's middle half▲ 2.2%
Total assets€69.9m-€71.5m▲ 2.3%€72.6mabove the sector's middle half▲ 1.5%€64.4mabove the sector's middle half▼ 11.3%€61.8mabove the sector's middle half▼ 3.9%€64.3mabove the sector's middle half▲ 3.9%€64.9mabove the sector's middle half▲ 0.9%€75.8mabove the sector's middle half▲ 16.8%
Debt€1.8m-€2.0m▲ 10.9%€2.4m▲ 21.7%€8.3m▲ 247%€4.5m▼ 45.1%€5.9m▲ 31.0%€5.4m▼ 9.0%€15.1m▲ 179%
Working capital€15.1m-€16.5m▲ 9.1%€17.2mabove the sector's middle half▲ 4.0%€18.2mabove the sector's middle half▲ 5.8%€19.0mabove the sector's middle half▲ 4.7%€20.1mabove the sector's middle half▲ 5.5%€21.3mabove the sector's middle half▲ 5.8%€22.4mabove the sector's middle half▲ 5.6%
Solvency97.3%-97.1%▼ 0.2pp96.4%above the sector's middle half▼ 0.7pp87.2%above the sector's middle half▼ 9.2pp92.4%above the sector's middle half▲ 5.3pp90.6%above the sector's middle half▼ 1.8pp91.6%above the sector's middle half▲ 0.9pp80.1%above the sector's middle half▼ 11.5pp
Current ratio10.17-9.90▼ 0.268.56above the sector's middle half▼ 1.353.24above the sector's middle half▼ 5.315.33above the sector's middle half▲ 2.094.42above the sector's middle half▼ 0.915.01above the sector's middle half▲ 0.592.50within the sector's middle half▼ 2.51
Return on assets (ROA)3.3%-1.9%▼ 1.4pp0.7%within the sector's middle half▼ 1.2pp-21.5%below the sector's middle half▼ 22.2pp1.7%within the sector's middle half▲ 23.2pp1.7%within the sector's middle half=1.8%within the sector's middle half▲ 0.1pp1.7%within the sector's middle half▼ 0.1pp
Staff (FTE)42.1-40.4▼ 4.0%38.5above the sector's middle half▼ 4.7%35.2above the sector's middle half▼ 8.6%37.9above the sector's middle half▲ 7.7%41.6above the sector's middle half▲ 9.8%38.4above the sector's middle half▼ 7.7%35.9above the sector's middle half▼ 6.5%
above
within
below
the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €75.8m
Fixed assets
€38.4m ▲ 0.3%
Current assets
€37.4m ▲ 40.8%
Equity and liabilities €75.8m
Equity
€60.7m ▲ 2.2%
Provisions
€0 ▼ 100%
Debt
€15.1m ▲ 179%
Debt's share of the balance-sheet total rises from 8.3% to 19.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.4m▲
2024 · €1.3m
Cash flow
€1.4m▲
2024 · €1.3m
Quick ratio
2.28▼
2024 · 4.34
Debt to equity
0.25▲
2024 · 0.09
ROE
2.1%▲
2024 · 2.0%
Interest coverage
6.74▲
2024 · 5.54
Debt ≤ 1 year
€14.9m▲
2024 · €5.3m
Income taxes
€459,342▲
2024 · €419,314
Staff costs
€3.7m▲
2024 · €3.7m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | €26.7m | - | - | €29.7m | €37.4m | €40.0m | €32.5m | €31.3m | ▼ 3.6% |
| Turnover70 | €25.4m | €24.8m | €23.8m | €28.6m | €36.1m | €38.7m | €31.6m | €30.4m | ▼ 3.8% |
| Other operating income74 | €1.3m | - | - | €1.1m | €1.3m | €1.3m | €0.9m | €0.9m | ▲ 1.5% |
| Operating charges60/66A | €24.3m | - | - | €28.5m | €36.0m | €38.4m | €31.3m | €30.0m | ▼ 4.0% |
| Goods for resale, raw materials and consumables60 | €17.7m | - | - | €20.5m | €24.6m | €25.8m | €20.0m | €19.2m | ▼ 4.4% |
| Purchases600/8 | €18.0m | - | - | €20.3m | €25.6m | €26.2m | €19.9m | €19.1m | ▼ 3.8% |
| Change in stocks: decrease (increase)609 | -€0.3m | - | - | €0.2m | -€1.0m | -€0.4m | €0.1m | €0.03m | ▼ 78.6% |
| Services and other goods61 | €3.4m | - | - | €5.0m | €7.5m | €8.5m | €7.4m | €7.0m | ▼ 4.7% |
| Remuneration, social security and pensions62 | €3.4m | - | - | €3.3m | €3.6m | €4.1m | €3.7m | €3.7m | ▲ 0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.06m | €0.06m | €0.07m | €0.07m | €0.1m | €0.09m | €0.1m | €0.1m | ▲ 22.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €0.05m | - | - | -€0.2m | -€0.03m | -€0.04m | €0.06m | €0.004m | ▼ 93.5% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€0.03m | - | - | -€0.2m | €0.2m | -€0.08m | -€0.03m | -€0.05m | ▼ 100% |
| Other operating charges640/8 | €0.03m | - | - | €0.03m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 2.9% |
| Non-recurring operating charges66A | -€0.3m | - | - | - | - | - | - | - | - |
| Operating profit (loss)9901 | €2.4m | €1.4m | €0.4m | €1.2m | €1.4m | €1.6m | €1.2m | €1.3m | ▲ 7.0% |
| Financial income75/76B | €0.09m | - | - | €0.2m | €0.3m | €0.7m | €0.9m | €0.7m | ▼ 22.6% |
| Recurring financial income75 | €0.09m | €0.1m | €0.1m | €0.2m | €0.3m | €0.7m | €0.9m | €0.7m | ▼ 19.7% |
| Income from financial fixed assets750 | - | - | - | - | €2 | €106 | €147 | - | - |
| Income from current assets751 | €0.07m | - | - | €0.2m | €0.3m | €0.7m | €0.8m | €0.7m | ▼ 12.7% |
| Other financial income752/9 | €0.01m | - | - | €0.005m | €0.01m | €0.01m | €0.1m | €0.02m | ▼ 77.4% |
| Non-recurring financial income76B | €0.003m | - | - | - | - | - | €0.03m | - | - |
| Financial charges65/66B | €0.09m | - | - | €15.1m | €0.3m | €0.7m | €0.5m | €0.2m | ▼ 55.3% |
| Recurring financial charges65 | €0.09m | €0.09m | €0.08m | €0.1m | €0.3m | €0.7m | €0.5m | €0.2m | ▼ 55.3% |
| Debt charges650 | €0.01m | €0.04m | €0.03m | €0.04m | €0.1m | €0.3m | €0.2m | €0.2m | ▼ 11.1% |
| Other financial charges652/9 | €0.07m | - | - | €0.07m | €0.2m | €0.5m | €0.3m | €0.04m | ▼ 88.4% |
| Non-recurring financial charges66B | - | - | - | €15.0m | €0.001m | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €2.4m | €1.4m | €0.5m | -€13.7m | €1.4m | €1.5m | €1.6m | €1.8m | ▲ 10.6% |
| Income taxes67/77 | €0.1m | €0.04m | -€0.01m | €0.1m | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 9.5% |
| Taxes670/3 | €0.1m | - | - | €0.1m | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 9.5% |
| Tax adjustments and reversals of tax provisions77 | €17 | - | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €2.3m | €1.4m | €0.5m | -€13.8m | €1.0m | €1.1m | €1.2m | €1.3m | ▲ 11.0% |
| Profit (loss) for the period to be appropriated9905 | €2.3m | €1.4m | €0.5m | -€13.8m | €1.0m | €1.1m | €1.2m | €1.3m | ▲ 11.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €69.9m | €71.5m | €72.6m | €64.4m | €61.8m | €64.3m | €64.9m | €75.8m | ▲ 16.8% |
| Fixed assets21/28 | €53.1m | €53.1m | €53.1m | €38.1m | €38.4m | €38.3m | €38.3m | €38.4m | ▲ 0.3% |
| Tangible fixed assets22/27 | €0.1m | €0.1m | €0.1m | €0.07m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 18.2% |
| Land and buildings22 | - | - | - | - | - | - | - | €0.05m | - |
| Plant, machinery and equipment23 | €0.07m | - | - | €0.05m | €0.05m | €0.08m | €0.09m | €0.1m | ▲ 29.0% |
| Furniture and vehicles24 | €0.004m | - | - | €0.01m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 24.6% |
| Leasing and similar rights25 | €0.008m | - | - | - | €0.09m | - | - | - | - |
| Other tangible fixed assets26 | €0.04m | - | - | €0.005m | - | - | - | - | - |
| Assets under construction and advance payments27 | - | - | - | - | €0.03m | - | - | - | - |
| Financial fixed assets28 | €53.0m | €53.0m | €53.0m | €38.0m | €38.1m | €38.1m | €38.1m | €38.2m | ▲ 0.2% |
| Affiliated companies280/1 | €53.0m | - | - | €38.0m | €38.0m | €38.0m | €38.0m | €38.0m | = |
| Participating interests280 | €53.0m | - | - | €38.0m | €38.0m | €38.0m | €38.0m | €38.0m | = |
| Other financial fixed assets284/8 | €0.03m | - | - | €0.04m | €0.08m | €0.09m | €0.1m | €0.2m | ▲ 53.2% |
| Amounts receivable and cash guarantees285/8 | €0.03m | - | - | €0.04m | €0.08m | €0.09m | €0.1m | €0.2m | ▲ 53.2% |
| Current assets29/58 | €16.8m | €18.4m | €19.5m | €26.3m | €23.4m | €26.0m | €26.6m | €37.4m | ▲ 40.8% |
| Stocks and contracts in progress3 | €2.0m | €2.4m | €2.1m | €2.2m | €3.3m | €3.7m | €3.6m | €3.3m | ▼ 6.5% |
| Stocks30/36 | €2.0m | - | - | €2.2m | €3.3m | €3.7m | €3.6m | €3.3m | ▼ 6.5% |
| Goods purchased for resale34 | €1.8m | - | - | €2.0m | €3.0m | €3.4m | €3.2m | €3.2m | ▼ 0.6% |
| Advance payments36 | €0.2m | - | - | €0.2m | €0.3m | €0.3m | €0.4m | €0.1m | ▼ 60.3% |
| Amounts receivable within one year40/41 | €14.5m | €15.9m | €16.8m | €23.6m | €20.1m | €21.6m | €22.5m | €33.6m | ▲ 49.3% |
| Trade receivables40 | €5.8m | - | - | €6.3m | €12.5m | €9.9m | €9.7m | €9.7m | = |
| Other amounts receivable41 | €8.7m | - | - | €17.3m | €7.6m | €11.8m | €12.8m | €23.9m | ▲ 86.9% |
| Current investments50/53 | €0.06m | €0.06m | - | - | - | - | - | - | - |
| Other investments51/53 | €0.06m | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.001m | €0.002m | €0.06m | - | - | - | - | - | - |
| Deferred charges and accrued income490/1 | €0.3m | - | - | €0.5m | €0.07m | €0.6m | €0.5m | €0.5m | ▼ 7.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €69.9m | €71.5m | €72.6m | €64.4m | €61.8m | €64.3m | €64.9m | €75.8m | ▲ 16.8% |
| Equity10/15 | €68.1m | €69.5m | €70.0m | €56.1m | €57.2m | €58.3m | €59.4m | €60.7m | ▲ 2.2% |
| Contributions10/11 | €27.6m | €27.6m | €27.6m | €87.5m | €87.5m | €87.5m | €87.5m | €87.5m | = |
| Capital10 | €27.6m | - | - | €27.6m | €27.6m | €27.6m | €27.6m | €27.6m | = |
| Issued capital100 | €27.6m | - | - | €27.6m | €27.6m | €27.6m | €27.6m | €27.6m | = |
| Contributions outside capital11 | €59.9m | - | - | €59.9m | €59.9m | €59.9m | €59.9m | €59.9m | = |
| Share premium1100/10 | - | - | - | €59.9m | €59.9m | €59.9m | €59.9m | €59.9m | = |
| Reserves13 | €3.3m | €3.3m | €3.3m | €3.3m | €3.3m | €3.3m | €3.3m | €3.3m | = |
| Non-distributable reserves130/1 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Legal reserve130 | €0.3m | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Tax-exempt reserves132 | €0.4m | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Distributable reserves133 | €2.7m | - | - | €2.7m | €2.7m | €2.7m | €2.7m | €2.7m | = |
| Profit (loss) carried forward14 | -€22.7m | -€21.3m | -€20.8m | -€34.6m | -€33.6m | -€32.5m | -€31.3m | -€30.0m | ▲ 4.1% |
| Provisions and deferred taxes16 | €0.09m | €0.1m | €0.2m | - | €0.2m | €0.08m | €0.05m | - | - |
| Provisions for liabilities and charges160/5 | €0.09m | - | - | - | €0.2m | €0.08m | €0.05m | - | - |
| Pensions and similar obligations160 | €0.09m | - | - | - | - | - | - | - | - |
| Other liabilities and charges164/5 | - | - | - | - | €0.2m | €0.08m | €0.05m | - | - |
| Amounts payable17/49 | €1.8m | €2.0m | €2.4m | €8.3m | €4.5m | €5.9m | €5.4m | €15.1m | ▲ 179% |
| Amounts payable after more than one year17 | €0.003m | - | - | - | €0.03m | - | - | - | - |
| Financial debts170/4 | €0.003m | - | - | - | €0.03m | - | - | - | - |
| Leasing and similar obligations172 | €0.003m | - | - | - | €0.03m | - | - | - | - |
| Amounts payable within one year42/48 | €1.7m | €1.9m | €2.3m | €8.1m | €4.4m | €5.9m | €5.3m | €14.9m | ▲ 182% |
| Current portion of amounts payable after more than one year42 | €0.005m | - | - | - | €0.04m | €0.04m | €0.001m | - | - |
| Financial debts43 | - | - | - | €4.2m | €2.0m | €3.1m | €2.7m | €7.6m | ▲ 183% |
| Credit institutions430/8 | - | - | - | €4.2m | €2.0m | €3.1m | €2.7m | €7.6m | ▲ 183% |
| Trade debts44 | €1.0m | €1.2m | €1.4m | €2.8m | €1.2m | €1.6m | €1.6m | €6.4m | ▲ 290% |
| Suppliers440/4 | €1.0m | - | - | €2.8m | €1.2m | €1.6m | €1.6m | €6.4m | ▲ 290% |
| Taxes, remuneration and social security45 | €0.6m | - | - | €1.0m | €1.2m | €1.2m | €1.0m | €0.9m | ▼ 3.3% |
| Taxes450/3 | €0.3m | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 3.8% |
| Remuneration and social security454/9 | €0.4m | - | - | €0.5m | €0.6m | €0.7m | €0.5m | €0.5m | ▼ 2.8% |
| Accrued charges and deferred income492/3 | €0.1m | - | - | €0.2m | €0.1m | €0.08m | €0.1m | €0.2m | ▲ 38.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.3m | €1.4m | €0.5m | -€13.8m | €1.0m | €1.1m | €1.2m | €1.3m | ▲ 11.0% |
| + Depreciation and write-downs630 | €0.06m | €0.06m | €0.07m | €0.07m | €0.1m | €0.09m | €0.1m | €0.1m | ▲ 22.8% |
| Operating cash flow (approximation) | €2.4m | €1.4m | €0.6m | -€13.8m | €1.1m | €1.2m | €1.3m | €1.4m | ▲ 12.0% |
| Investment in fixed assets (approximation) | - | -€0.06m | -€0.05m | €15.0m | -€0.4m | -€288 | -€0.1m | -€0.2m | ▼ 109% |
| Change in cash | - | €0.001m | €0.05m | - | - | - | - | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 49 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 02-07-2026 | 2026-00249382 |
| 31-12-2024 | full format | 04-07-2025 | 2025-00249651 |
| 31-12-2023 | full format | 02-07-2024 | 2024-00209533 |
| 31-12-2022 | full format | 04-07-2023 | 2023-00215162 |
| 31-12-2021 | full format | 29-07-2022 | 2022-20258873 |
| 31-12-2020 | full format | 08-07-2021 | 2021-33200172 |
| 31-12-2019 | full format | 13-07-2020 | 2020-30400300 |
| 31-12-2018 | full format | 28-06-2019 | 2019-26600264 |
| 31-12-2017 | full format | 09-07-2018 | 2018-32100574 |
| 31-12-2016 | full format | 03-07-2017 | 2017-28100309 |
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MAKITA
BE 0416.848.590
Kortenberg · equity €50.2m
BELGARDE
BE 0421.062.944
Essen · equity €38.5m
Of the 496 active companies whose main activity is wholesale trade (NACE 46841), figures are known for 363. 35 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts
2 awards · 2024 to 2026
Visserie: 0000719964 - 1
Marché pluriannuel (72 mois) de fournitures à bordereau de prix pour l’acquisition de quincaillerie au profit de la Défense.
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. Values as the buyer published them; for a framework agreement, a ceiling.