COMDIS
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is a loss of €946,090, larger than the loss of €272,958 in 2024.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 25 | 22 |
| full-time | 5 | 7 |
| part-time | 20 | 15 |
| in full-time equivalents | 18.7 | 16.6 |
| Average over the year, in full-time equivalents | 19 | 18 |
| On a permanent contract | - | 22 |
| Joined | 1 | 6 |
| Left | 2 | 9 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €146,147 | €73,683 |
| Intangible fixed assets | €292,131 | - |
| Depreciation and write-downs of the year | €91,056 | €89,777 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Non-recurring operating income76A | €0.7m | €0.004m | ▼ 99.4% |
| Remuneration, social security and pensions62 | €0.9m | €0.7m | ▼ 26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.09m | €0.09m | ▼ 1.4% |
| Other operating charges640/8 | €0.01m | €0.06m | ▲ 361% |
| Non-recurring operating charges66A | €0.04m | €0.002m | ▼ 95.1% |
| Gross operating margin9900 | €0.8m | -€0.1m | - |
| Operating profit (loss)9901 | -€0.3m | -€0.9m | ▼ 247% |
| Financial income75/76B | €119 | €0.06m | ▲ 508× |
| Recurring financial income75 | €119 | €0.06m | ▲ 508× |
| Financial charges65/66B | €0.07m | €0.1m | ▲ 83.2% |
| Recurring financial charges65 | €0.07m | €0.1m | ▲ 58.3% |
| Non-recurring financial charges66B | - | €0.02m | - |
| Profit (loss) for the period before taxes9903 | -€0.3m | -€1.0m | ▼ 194% |
| Profit (loss) for the period9904 | -€0.3m | -€1.0m | ▼ 194% |
| Profit (loss) for the period to be appropriated9905 | -€0.3m | -€1.0m | ▼ 194% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €1.3m | €1.1m | ▼ 11.6% |
| Fixed assets21/28 | €0.3m | €0.3m | ▼ 4.6% |
| Intangible fixed assets21 | €0.2m | €0.2m | ▼ 24.9% |
| Tangible fixed assets22/27 | €0.1m | €0.2m | ▲ 35.6% |
| Plant, machinery and equipment23 | - | €0.06m | - |
| Furniture and vehicles24 | €0.1m | €0.1m | ▼ 14.1% |
| Current assets29/58 | €0.9m | €0.8m | ▼ 14.2% |
| Stocks and contracts in progress3 | €0.4m | €0.5m | ▲ 11.6% |
| Stocks30/36 | €0.4m | €0.5m | ▲ 11.6% |
| Amounts receivable within one year40/41 | €0.2m | €0.2m | ▼ 34.4% |
| Trade receivables40 | €0.2m | €0.02m | ▼ 85.7% |
| Other amounts receivable41 | €0.06m | €0.1m | ▲ 114% |
| Cash at bank and in hand54/58 | €0.3m | €0.2m | ▼ 39.4% |
| Deferred charges and accrued income490/1 | €0.003m | €0.003m | ▼ 3.2% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €1.3m | €1.1m | ▼ 11.6% |
| Equity10/15 | -€0.2m | -€1.3m | ▼ 414% |
| Contributions10/11 | €0.1m | €0.1m | = |
| Capital10 | €0.1m | €0.1m | = |
| Issued capital100 | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | -€0.3m | -€1.4m | ▼ 294% |
| Amounts payable17/49 | €1.5m | €2.4m | ▲ 57.7% |
| Amounts payable after more than one year17 | €0.4m | €0.3m | ▼ 22.3% |
| Financial debts170/4 | €0.4m | €0.3m | ▼ 21.6% |
| Other amounts payable178/9 | €0.008m | €0.004m | ▼ 54.8% |
| Amounts payable within one year42/48 | €1.1m | €2.1m | ▲ 91.5% |
| Current portion of amounts payable after more than one year42 | €0.5m | €0.08m | ▼ 84.0% |
| Trade debts44 | €0.4m | €1.9m | ▲ 334% |
| Suppliers440/4 | €0.4m | €1.9m | ▲ 334% |
| Taxes, remuneration and social security45 | €0.2m | €0.09m | ▼ 45.1% |
| Taxes450/3 | €0.02m | - | - |
| Remuneration and social security454/9 | €0.2m | €0.09m | ▼ 38.7% |
| Other amounts payable47/48 | €0.003m | - | - |
| Accrued charges and deferred income492/3 | €0.05m | - | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€0.3m | -€1.0m | ▼ 194% |
| + Depreciation and write-downs630 | €0.09m | €0.09m | ▼ 1.4% |
| Operating cash flow (approximation) | -€0.3m | -€0.9m | ▼ 264% |
| Investment in fixed assets (approximation) | - | -€0.07m | - |
| Change in cash | - | -€0.1m | - |
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, 490 companies had the same profile as COMDIS has now. Two years later, 88.8% were still going and 6.7% had gone bankrupt.
- Small
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of COMDIS itself: 3.5% 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 490 companies, not a prediction for COMDIS. 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.