COMFLOW
ActiveSummary
COMFLOW has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €386,886 and a net result of €16,094. Equity is growing by ~23.4% per year across the filed fiscal years. Its solvency ranks better than 65% of 221 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability68▼-12
Solvency76=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 2.56 against 3.17 in 2023; short-term debt: 19.5% and cash: 19.4% of total assets), and 48.9% of the assets are financed with debt.
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Signals
Three 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 14
Relative position
BE, all sectors
reference
Manufacture of wearing apparel (NACE 14)
about 12% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
68 d late
2022
3 d early
2021
26 d late
2020
27 d late
2019
101 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 47 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€386,886▼ 4.1%
2023 · €403,291
Total assets
€756,884▼ 3.7%
2023 · €786,277
Net result
€16,094▼ 77.6%
2023 · €71,756
Working capital
€229,429▼ 11.1%
2023 · €258,140
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 14, Manufacture of wearing apparel, 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
Line20202021202220232024
Operating result€125,482▲ 127%€186,563▲ 48.7%€95,313▼ 48.9%€120,168▲ 26.1%€39,724▼ 66.9%
Net result€90,203above the sector's middle half▲ 173%€141,553above the sector's middle half▲ 56.9%€57,902above the sector's middle half▼ 59.1%€71,756above the sector's middle half▲ 23.9%€16,094above the sector's middle half▼ 77.6%
Equity€143,480above the sector's middle half▲ 169%€285,033above the sector's middle half▲ 98.7%€342,935above the sector's middle half▲ 20.3%€403,291above the sector's middle half▲ 17.6%€386,886above the sector's middle half▼ 4.1%
Total assets€256,340within the sector's middle half▲ 198%€667,645above the sector's middle half▲ 160%€649,064above the sector's middle half▼ 2.8%€786,277above the sector's middle half▲ 21.1%€756,884above the sector's middle half▼ 3.7%
Debt€112,860▲ 246%€382,612▲ 239%€306,128▼ 20.0%€382,985▲ 25.1%€369,998▼ 3.4%
Working capital€95,663above the sector's middle half▲ 162%€170,405above the sector's middle half▲ 78.1%€225,049above the sector's middle half▲ 32.1%€258,140above the sector's middle half▲ 14.7%€229,429above the sector's middle half▼ 11.1%
Solvency56.0%within the sector's middle half▼ 6.0pp42.7%within the sector's middle half▼ 13.3pp52.8%within the sector's middle half▲ 10.1pp51.3%within the sector's middle half▼ 1.5pp51.1%within the sector's middle half▼ 0.2pp
Current ratio1.85within the sector's middle half▼ 0.272.09within the sector's middle half▲ 0.244.09above the sector's middle half▲ 2.003.17above the sector's middle half▼ 0.922.56within the sector's middle half▼ 0.62
Return on assets (ROA)35.2%above the sector's middle half▼ 3.2pp21.2%above the sector's middle half▼ 14.0pp8.9%within the sector's middle half▼ 12.3pp9.1%within the sector's middle half▲ 0.2pp2.1%within the sector's middle half▼ 7.0pp
Staff (FTE)0.31▲ 233%0.3▼ 70.0%
above
within
below
the middle half (P25 to P75) of NACE 14, Manufacture of wearing apparel, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 67% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €756,884
Fixed assets
€380,164 ▼ 7.1%
Current assets
€376,720 ▼ 0.1%
Equity and liabilities €756,884
Equity
€386,886 ▼ 4.1%
Debt
€369,998 ▼ 3.4%
Debt's share of the balance-sheet total rises from 48.7% to 48.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€79,487▼
2023 · €156,798
Cash flow
€55,858▼
2023 · €108,387
Debt to equity
0.96▲
2023 · 0.95
ROE
4.2%▼
2023 · 17.8%
Interest coverage
5.61▼
2023 · 12.92
Debt ≤ 1 year
€147,291▲
2023 · €118,772
Debt > 1 year
€222,707▼
2023 · €264,213
Income taxes
€9,568▼
2023 · €36,348
Staff costs
-€30▼
2023 · €11,515
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,640 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 95% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
3.6%
stopped otherwise
95%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,640 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €11 | - | - | - |
| Remuneration, social security and pensions62 | - | €5,747 | €36,602 | €11,515 | -€30 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,891 | €25,100 | €26,726 | €36,630 | €39,764 | ▲ 8.6% |
| Other operating charges640/8 | - | €3,904 | €1,030 | €2,007 | €2,332 | ▲ 16.2% |
| Non-recurring operating charges66A | - | €2,447 | €2,268 | €1,510 | €4,620 | ▲ 206% |
| Gross operating margin9900 | €136,040 | €223,761 | €161,939 | €171,830 | €86,409 | ▼ 49.7% |
| Operating profit (loss)9901 | €125,482 | €186,563 | €95,313 | €120,168 | €39,724 | ▼ 66.9% |
| Financial income75/76B | - | €1 | €5 | €68 | €102 | ▲ 48.8% |
| Recurring financial income75 | €10 | €1 | €5 | €68 | €102 | ▲ 48.8% |
| Financial charges65/66B | - | €3,126 | €11,916 | €12,132 | €14,163 | ▲ 16.7% |
| Recurring financial charges65 | €2,212 | €3,126 | €11,916 | €12,132 | €14,163 | ▲ 16.7% |
| Profit (loss) for the period before taxes9903 | €123,279 | €183,438 | €83,401 | €108,104 | €25,662 | ▼ 76.3% |
| Income taxes67/77 | €33,077 | €41,885 | €25,499 | €36,348 | €9,568 | ▼ 73.7% |
| Profit (loss) for the period9904 | €90,203 | €141,553 | €57,902 | €71,756 | €16,094 | ▼ 77.6% |
| Profit (loss) for the period to be appropriated9905 | €90,203 | €141,553 | €57,902 | €71,756 | €16,094 | ▼ 77.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €256,340 | €667,645 | €649,064 | €786,277 | €756,884 | ▼ 3.7% |
| Fixed assets21/28 | €48,724 | €341,456 | €351,206 | €409,365 | €380,164 | ▼ 7.1% |
| Tangible fixed assets22/27 | €48,694 | €341,426 | €351,176 | €409,335 | €380,134 | ▼ 7.1% |
| Land and buildings22 | - | €280,071 | €280,128 | €270,574 | €261,020 | ▼ 3.5% |
| Plant, machinery and equipment23 | - | €23,770 | €22,303 | €99,618 | €82,858 | ▼ 16.8% |
| Furniture and vehicles24 | - | €37,585 | €48,744 | €39,143 | €36,256 | ▼ 7.4% |
| Financial fixed assets28 | €30 | €30 | €30 | €30 | €30 | = |
| Current assets29/58 | €207,615 | €326,190 | €297,858 | €376,911 | €376,720 | ▼ 0.1% |
| Amounts receivable within one year40/41 | €84,919 | €159,179 | €143,916 | €130,877 | €222,948 | ▲ 70.3% |
| Trade receivables40 | - | €78,218 | €85,197 | €54,825 | €85,453 | ▲ 55.9% |
| Other amounts receivable41 | - | €80,961 | €58,718 | €76,052 | €137,495 | ▲ 80.8% |
| Cash at bank and in hand54/58 | €122,462 | €166,132 | €147,359 | €242,600 | €146,789 | ▼ 39.5% |
| Deferred charges and accrued income490/1 | - | €879 | €6,583 | €3,435 | €6,983 | ▲ 103% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €256,340 | €667,645 | €649,064 | €786,277 | €756,884 | ▼ 3.7% |
| Equity10/15 | €143,480 | €285,033 | €342,935 | €403,291 | €386,886 | ▼ 4.1% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €135,760 | €277,260 | €335,060 | €395,360 | €378,860 | ▼ 4.2% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €275,400 | €333,200 | €395,360 | €378,860 | ▼ 4.2% |
| Profit (loss) carried forward14 | €1,520 | €1,573 | €1,675 | €1,731 | €1,826 | ▲ 5.4% |
| Amounts payable17/49 | €112,860 | €382,612 | €306,128 | €382,985 | €369,998 | ▼ 3.4% |
| Amounts payable after more than one year17 | - | €226,828 | €233,320 | €264,213 | €222,707 | ▼ 15.7% |
| Financial debts170/4 | - | €226,828 | €233,320 | €264,213 | €222,707 | ▼ 15.7% |
| Amounts payable within one year42/48 | €111,952 | €155,784 | €72,808 | €118,772 | €147,291 | ▲ 24.0% |
| Current portion of amounts payable after more than one year42 | - | €67,772 | €16,946 | €17,199 | €29,753 | ▲ 73.0% |
| Financial debts43 | - | €3,675 | - | - | - | - |
| Credit institutions430/8 | - | €3,675 | - | - | - | - |
| Trade debts44 | €35,864 | €13,577 | €19,880 | €36,901 | €23,723 | ▼ 35.7% |
| Suppliers440/4 | - | €13,577 | €19,880 | €36,901 | €23,723 | ▼ 35.7% |
| Advances received on contracts in progress46 | - | €8,211 | €5,387 | - | €23,782 | - |
| Taxes, remuneration and social security45 | - | €62,462 | €30,595 | €53,272 | €37,084 | ▼ 30.4% |
| Taxes450/3 | - | €56,239 | €17,007 | €48,837 | €37,084 | ▼ 24.1% |
| Remuneration and social security454/9 | - | €6,223 | €13,588 | €4,435 | - | - |
| Other amounts payable47/48 | - | €88 | - | €11,400 | €32,950 | ▲ 189% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €90,203 | €141,553 | €57,902 | €71,756 | €16,094 | ▼ 77.6% |
| + Depreciation and write-downs630 | €9,891 | €25,100 | €26,726 | €36,630 | €39,764 | ▲ 8.6% |
| Operating cash flow (approximation) | €100,094 | €166,653 | €84,628 | €108,387 | €55,858 | ▼ 48.5% |
| Investment in fixed assets (approximation) | - | -€317,831 | -€36,476 | -€94,789 | -€10,562 | ▲ 88.9% |
| Change in cash | - | €43,669 | -€18,773 | €95,241 | -€95,810 | ▼ 201% |
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
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-12
Financial
Highest result since 2018net €141,553 ▲56.9%
Operating result €186,563, net result €141,553, both a record.
31-12
Financial
Equity above €200,000Eq €285,033 ▲98.7%
4 profitable years in a row build equity to €285,033.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
31-12
Financial
Equity above €100,000Eq €143,480 ▲169%
3 profitable years in a row build equity to €143,480.
09-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 101 days late
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Wetteren · 2 establishment units since 2017
Ground area
1,479 m²
Building footprint
359 m²
Volume, LiDAR
1,781 m³
3 parcels, Flanders · tallest building 11.1 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
Comflow
since 20172.266.060.748
Comflow
since 20212.323.302.626
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42302C0244/00V000 | Flanders | 954 m² | 1 · 95 m² | 7.9 m · 2 fl. |
| 44412B0904/00B002 | Flanders | 306 m² | 1 · 97 m² | 6.4 m · 2 fl. |
| 42302D0897/00V005 | Flanders | 219 m² | 1 · 167 m² | 11.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 540 companies in sector 14299 we hold annual accounts for 105. 58 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
Founded13-07-2017
Fiscal year end31-12
Activities, NACEBEL 2025
14299Manufacture of wearing apparel
18130Pre-press and pre-media services
47120Other non-specialised retail sale
47715Retail trade
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
59201Sound recording
59202Motion picture, video and television programme production, sound recording and music publishing activities
59203Motion picture, video and television programme production, sound recording and music publishing activities
59209Motion picture, video and television programme production, sound recording and music publishing activities
62100Computer programming
62200Computer consultancy and computer facilities management
63910Web portal activities
64210Activities of holding companies
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
73110Advertising agencies
73120Media representation
73200Market research and public opinion polling
73300Public relations and communication consultancy
74111Design of textile patterns, clothing, jewellery, furniture and decorative items
74120Graphic design and visual communication
74201Photography, excluding press photography
77222Rental and leasing activities
77229Renting and leasing of other personal and household goods
77330Rental and leasing activities
82100Office administrative and support services
82990Other business support services
90201Performing arts by independent artists
90202Performing arts by artistic ensembles
90393Specialised image, lighting and sound technical services
90311Arts creation and performing arts activities
90391Promotion and organisation of arts and performing arts events
93299Other amusement and recreation activities
Contact
Website
WWW.COMFLOW.BE
E-mail
hello@comflow.beWetteren
E-invoicing
Reachable via Peppol
Peppol ID
0208:0678553404
Registered
07-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.