COMED
ActiveSummary
COMED has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €89,196 and a net result of -€57,010. Equity is growing by ~22.2% per year across the filed fiscal years. Its solvency ranks better than 44% of 16754 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-72
Solvency81▼-7
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 1.84 against 2.61 in 2024; short-term debt: 44% and cash: 35.2% of total assets), and 44% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 86
Relative position
BE, all sectors
reference
Human health activities (NACE 86)
about 87% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
56%
Return on assets
-35.8%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
30 d early
2023
23 d late
2022
4 d early
2021
4 d early
2020
19 d early
2019
24 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 8 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€57,010
2024 · €5,464
Working capital
€58,735▼ 50.3%
2024 · €118,102
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 86, Human health 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€95,378▲ 9.7%€71,108▼ 25.4%€3,644▼ 94.9%€10,410▲ 186%-€55,802
Net result€71,815within the sector's middle half▲ 20.8%€49,878within the sector's middle half▼ 30.5%-€36below the sector's middle half€5,464below the sector's middle half-€57,010below the sector's middle half
Equity€115,900within the sector's middle half▲ 85.0%€140,778within the sector's middle half▲ 21.5%€140,742within the sector's middle half=€146,206within the sector's middle half▲ 3.9%€89,196within the sector's middle half▼ 39.0%
Total assets€178,630within the sector's middle half▲ 18.6%€287,553within the sector's middle half▲ 61.0%€249,814within the sector's middle half▼ 13.1%€233,356within the sector's middle half▼ 6.6%€159,149within the sector's middle half▼ 31.8%
Debt€62,730▼ 28.7%€146,775▲ 134%€109,072▼ 25.7%€87,150▼ 20.1%€69,953▼ 19.7%
Working capital€91,825within the sector's middle half▲ 208%€110,678within the sector's middle half▲ 20.5%€112,977within the sector's middle half▲ 2.1%€118,102within the sector's middle half▲ 4.5%€58,735within the sector's middle half▼ 50.3%
Solvency64.9%within the sector's middle half▲ 23.3pp49.0%within the sector's middle half▼ 15.9pp56.3%within the sector's middle half▲ 7.4pp62.7%within the sector's middle half▲ 6.3pp56.0%within the sector's middle half▼ 6.6pp
Current ratio2.46within the sector's middle half▲ 1.102.06within the sector's middle half▼ 0.402.40within the sector's middle half▲ 0.342.61within the sector's middle half▲ 0.211.84within the sector's middle half▼ 0.77
Return on assets (ROA)40.2%above the sector's middle half▲ 0.7pp17.3%within the sector's middle half▼ 22.9pp0.0%below the sector's middle half▼ 17.4pp2.3%below the sector's middle half▲ 2.4pp-35.8%below the sector's middle half▼ 38.2pp
Staff (FTE)3.8▲ 22.6%5▲ 31.6%54.7▼ 6.0%
above
within
below
the middle half (P25 to P75) of NACE 86, Human health activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €55,802 after €10,410 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €159,149
Fixed assets
€30,461 ▼ 27.1%
Current assets
€128,688 ▼ 32.8%
Equity and liabilities €159,149
Equity
€89,196 ▼ 39.0%
Debt
€69,953 ▼ 19.7%
Debt's share of the balance-sheet total rises from 37.3% to 44.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€40,318▼
2024 · €25,447
Cash flow
-€41,526▼
2024 · €20,501
Debt to equity
0.78▲
2024 · 0.60
ROE
-63.9%▼
2024 · 3.7%
Interest coverage
-34.82▼
2024 · 13.67
Debt ≤ 1 year
€69,953▼
2024 · €73,453
Income taxes
€226▼
2024 · €3,359
Staff costs
€132,764▲
2024 · €106,086
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,836 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.5%
went bankrupt
13%
stopped otherwise
84%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 5,836 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €96,940 | €135,869 | €130,816 | €106,086 | €132,764 | ▲ 25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,619 | €6,253 | €16,433 | €15,037 | €15,484 | ▲ 3.0% |
| Other operating charges640/8 | €2,190 | €2,490 | €3,384 | €1,357 | €1,613 | ▲ 18.9% |
| Gross operating margin9900 | €212,127 | €215,720 | €154,277 | €132,890 | €94,059 | ▼ 29.2% |
| Operating profit (loss)9901 | €95,378 | €71,108 | €3,644 | €10,410 | -€55,802 | ▼ 636% |
| Financial income75/76B | €10 | €56 | - | €274 | €176 | ▼ 35.8% |
| Recurring financial income75 | €10 | €56 | - | €274 | €176 | ▼ 35.8% |
| Financial charges65/66B | €828 | €1,196 | €2,235 | €1,861 | €1,158 | ▼ 37.8% |
| Recurring financial charges65 | €828 | €1,196 | €2,235 | €1,861 | €1,158 | ▼ 37.8% |
| Profit (loss) for the period before taxes9903 | €94,560 | €69,968 | €1,409 | €8,823 | -€56,784 | ▼ 744% |
| Income taxes67/77 | €22,745 | €20,090 | €1,445 | €3,359 | €226 | ▼ 93.3% |
| Profit (loss) for the period9904 | €71,815 | €49,878 | -€36 | €5,464 | -€57,010 | ▼ 1,143% |
| Profit (loss) for the period to be appropriated9905 | €71,815 | €49,878 | -€36 | €5,464 | -€57,010 | ▼ 1,143% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €178,630 | €287,553 | €249,814 | €233,356 | €159,149 | ▼ 31.8% |
| Fixed assets21/28 | €24,075 | €72,619 | €56,053 | €41,801 | €30,461 | ▼ 27.1% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €20,527 | €69,071 | €53,653 | €39,401 | €28,061 | ▼ 28.8% |
| Plant, machinery and equipment23 | €1,040 | €1,181 | €947 | €285 | €874 | ▲ 207% |
| Furniture and vehicles24 | €19,487 | €67,890 | €52,706 | €39,116 | €27,187 | ▼ 30.5% |
| Financial fixed assets28 | €3,548 | €3,548 | €2,400 | €2,400 | €2,400 | = |
| Current assets29/58 | €154,555 | €214,934 | €193,761 | €191,555 | €128,688 | ▼ 32.8% |
| Amounts receivable within one year40/41 | €62,981 | €51,144 | €57,875 | €79,942 | €71,246 | ▼ 10.9% |
| Trade receivables40 | €31,934 | €16,188 | €17,978 | €23,237 | €23,272 | ▲ 0.2% |
| Other amounts receivable41 | €31,047 | €34,956 | €39,897 | €56,705 | €47,974 | ▼ 15.4% |
| Cash at bank and in hand54/58 | €90,896 | €161,134 | €135,265 | €110,971 | €56,088 | ▼ 49.5% |
| Deferred charges and accrued income490/1 | €678 | €2,656 | €621 | €642 | €1,354 | ▲ 111% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €178,630 | €287,553 | €249,814 | €233,356 | €159,149 | ▼ 31.8% |
| Equity10/15 | €115,900 | €140,778 | €140,742 | €146,206 | €89,196 | ▼ 39.0% |
| Contributions10/11 | €6,205 | €6,205 | €6,205 | €6,205 | €6,205 | = |
| Reserves13 | €20,610 | €20,610 | €20,610 | €20,610 | €20,610 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Other1319 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Profit (loss) carried forward14 | €89,085 | €113,963 | €113,927 | €119,391 | €62,381 | ▼ 47.8% |
| Amounts payable17/49 | €62,730 | €146,775 | €109,072 | €87,150 | €69,953 | ▼ 19.7% |
| Amounts payable after more than one year17 | - | €42,519 | €28,288 | €13,697 | - | - |
| Financial debts170/4 | - | €42,519 | €28,288 | €13,697 | - | - |
| Amounts payable within one year42/48 | €62,730 | €104,256 | €80,784 | €73,453 | €69,953 | ▼ 4.8% |
| Current portion of amounts payable after more than one year42 | €5,002 | €13,881 | €14,231 | €14,590 | €13,697 | ▼ 6.1% |
| Financial debts43 | €8,472 | - | - | - | - | - |
| Credit institutions430/8 | €8,472 | - | - | - | - | - |
| Trade debts44 | €8,891 | €15,383 | €15,985 | €11,924 | €9,219 | ▼ 22.7% |
| Suppliers440/4 | €8,891 | €15,383 | €15,985 | €11,924 | €9,219 | ▼ 22.7% |
| Taxes, remuneration and social security45 | €40,365 | €49,992 | €41,648 | €33,980 | €39,760 | ▲ 17.0% |
| Taxes450/3 | €26,708 | €25,646 | €23,029 | €17,457 | €17,889 | ▲ 2.5% |
| Remuneration and social security454/9 | €13,657 | €24,346 | €18,619 | €16,523 | €21,871 | ▲ 32.4% |
| Other amounts payable47/48 | - | €25,000 | €8,920 | €12,959 | €7,277 | ▼ 43.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €71,815 | €49,878 | -€36 | €5,464 | -€57,010 | ▼ 1,143% |
| + Depreciation and write-downs630 | €17,619 | €6,253 | €16,433 | €15,037 | €15,484 | ▲ 3.0% |
| Operating cash flow (approximation) | €89,434 | €56,131 | €16,397 | €20,501 | -€41,526 | ▼ 303% |
| Investment in fixed assets (approximation) | - | -€54,797 | €133 | -€785 | -€4,144 | ▼ 428% |
| Change in cash | - | €70,238 | -€25,869 | -€24,294 | -€54,883 | ▼ 126% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€57,010
Net result drops to -€57,010, the lowest in the series.
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €5,464
Net result €5,464 after one loss-making year.
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €71,815 ▲20.8%
Operating result €95,378, net result €71,815, both a record.
31-12
Financial
Equity above €100,000Eq €115,900 ▲85%
4 profitable years in a row build equity to €115,900.
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Liquidity doublescurrent ratio 1.36
Current ratio from 0.63 to 1.36.
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 21 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 27 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Liège · 1 establishment unit since 1989
Ground area
162 m²
Building footprint
158 m²
Volume, LiDAR
4,056 m³
Parcel 62806C0654/00K006, Wallonia · tallest building 29.3 m, ±8 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Avenue du Luxembourg 37, 4020 Liège
since 19892.228.695.259
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62806C0654/00K006 | Wallonia | 162 m² | 1 · 158 m² | 29.3 m · 8 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 9,128 companies in sector 86210 we hold annual accounts for 6,335. 5,184 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
Founded30-05-1989
Fiscal year end31-12
Activities, NACEBEL 2025
86210General medical practice
E-invoicing
Reachable via Peppol
Peppol ID
9925:BE0437600355
Registered
28-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.