Equity
COMFLOW paid out €90,000 in dividends. That is 174% of the 2025 profit.
COMFLOW paid out €90,000 in dividends. That is 174% of the 2025 profit.
The 2019 accounts came latest: 101 days after the end of the period.
More equity than 94% of companies in clothing. Sector median €18,762 · 221 companies.
In July 2024, 6,780 companies had the same profile as COMFLOW has now. Each dot stands for 17 companies, two years later.
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 6,780 companies, not a prediction for COMFLOW. 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.
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.
| Company | ||||
|---|---|---|---|---|
| COMFLOW Wetteren | €781,907 | €141,350 | 44.6% | - |
| NEW MOSAN Verlaine | €721,278 | €185,004 | 19.7% | - |
| OLEXA Antwerp | €868,233 | €87,875 | -9.7% | - |
| INDÉ Ixelles | €408,294 | €141,125 | 6.3% | - |
| DECCA SPORTS GROUP Kluisbergen | €321,796 | €201,284 | -79.7% | 4.4 |
| THE VINTAGE FASHION ARCHIVISTS Antwerp | €383,124 | €378,691 | 61.6% | 8.6 |
| ROSEDORANGE Brussels | €356,219 | €163,579 | 72.2% | - |
These companies have the same main activity as COMFLOW: manufacture of wearing apparel (NACE 14299). They are comparable in size and age: total assets between €322,000 and €868,000, founded between 2015 and 2021.
COMFLOW files the micro format. That format states no turnover. The gross margin rose from €28,402 in 2018 to €141,350 in 2025.
The balance sheet grew most from 2019 to 2021 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €350,000. Estimated: probably between €240,000 and €550,000.
Higher than 65% of 221 companies in 2025.
Higher than 64% of 213 companies in 2025.
Higher than 65% of 213 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
781,907 | 756,884 | 786,277 | 649,064 | 667,645 | 256,340 | 85,911 | 43,360 | |
21/28 |
360,518 | 380,164 | 409,365 | 351,206 | 341,456 | 48,724 | 16,696 | 8,954 | |
22/27 |
360,488 | 380,134 | 409,335 | 351,176 | 341,426 | 48,694 | 16,666 | 8,924 | |
22 |
251,465 | 261,020 | 270,574 | 280,128 | 280,071 | - | - | - | |
23 |
76,640 | 82,858 | 99,618 | 22,303 | 23,770 | 8,629 | 10,568 | 6,261 | |
24 |
32,382 | 36,256 | 39,143 | 48,744 | 37,585 | 40,066 | 6,098 | 2,663 | |
28 |
30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | |
29/58 |
421,389 | 376,720 | 376,911 | 297,858 | 326,190 | 207,615 | 69,215 | 34,406 | |
40/41 |
271,434 | 222,948 | 130,877 | 143,916 | 159,179 | 84,919 | 36,853 | 8,606 | |
40 |
150,395 | 85,453 | 54,825 | 85,197 | 78,218 | 56,359 | 31,406 | 8,417 | |
41 |
121,039 | 137,495 | 76,052 | 58,718 | 80,961 | 28,560 | 5,446 | 189 | |
54/58 |
142,969 | 146,789 | 242,600 | 147,359 | 166,132 | 122,462 | 31,977 | 25,800 | |
490/1 |
6,986 | 6,983 | 3,435 | 6,583 | 879 | 234 | 385 | - | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
781,907 | 756,884 | 786,277 | 649,064 | 667,645 | 256,340 | 85,911 | 43,360 | |
10/15 |
348,519 | 386,886 | 403,291 | 342,935 | 285,033 | 143,480 | 53,277 | 19,466 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | |
13 |
340,460 | 378,860 | 395,360 | 335,060 | 277,260 | 135,760 | 45,760 | 13,260 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | |
133 |
340,460 | 378,860 | 395,360 | 333,200 | 275,400 | 133,900 | 43,900 | 11,400 | |
14 |
1,859 | 1,826 | 1,731 | 1,675 | 1,573 | 1,520 | 1,317 | 6 | |
17/49 |
433,388 | 369,998 | 382,985 | 306,128 | 382,612 | 112,860 | 32,634 | 23,894 | |
17 |
192,125 | 222,707 | 264,213 | 233,320 | 226,828 | - | - | - | |
170/4 |
192,125 | 222,707 | 264,213 | 233,320 | 226,828 | - | - | - | |
42/48 |
241,263 | 147,291 | 118,772 | 72,808 | 155,784 | 111,952 | 32,634 | 23,894 | |
42 |
30,582 | 29,753 | 17,199 | 16,946 | 67,772 | - | - | - | |
43 |
6,968 | - | - | - | 3,675 | 2,882 | 5,514 | - | |
430/8 |
6,968 | - | - | - | 3,675 | 2,882 | 5,514 | - | |
44 |
46,438 | 23,723 | 36,901 | 19,880 | 13,577 | 35,864 | 2,605 | 2,573 | |
440/4 |
46,438 | 23,723 | 36,901 | 19,880 | 13,577 | 35,864 | 2,605 | 2,573 | |
46 |
38,285 | 23,782 | - | 5,387 | 8,211 | 11,172 | - | - | |
45 |
28,990 | 37,084 | 53,272 | 30,595 | 62,462 | 62,034 | 24,515 | 9,280 | |
450/3 |
28,990 | 37,084 | 48,837 | 17,007 | 56,239 | 53,381 | 21,508 | 9,280 | |
454/9 |
- | - | 4,435 | 13,588 | 6,223 | 8,654 | 3,007 | - | |
47/48 |
90,000 | 32,950 | 11,400 | - | 88 | - | - | 12,041 | |
492/3 |
- | - | - | - | - | 907 | - | - | |
| Income statement | |||||||||
76A |
- | - | - | 11 | - | - | - | - | |
9900 |
141,350 | 86,409 | 171,830 | 161,939 | 223,761 | 136,040 | 67,559 | 28,402 | |
62 |
- | -30 | 11,515 | 36,602 | 5,747 | - | - | - | |
630 |
39,133 | 39,764 | 36,630 | 26,726 | 25,100 | 9,891 | 10,044 | 6,060 | |
640/8 |
12,222 | 2,332 | 2,007 | 1,030 | 3,904 | 667 | 2,148 | 1,025 | |
66A |
- | 4,620 | 1,510 | 2,268 | 2,447 | - | - | - | |
9901 |
89,995 | 39,724 | 120,168 | 95,313 | 186,563 | 125,482 | 55,367 | 21,317 | |
75/76B |
5 | 102 | 68 | 5 | 1 | 10 | 22 | 34 | |
75 |
5 | 102 | 68 | 5 | 1 | 10 | 22 | 34 | |
65/66B |
14,916 | 14,163 | 12,132 | 11,916 | 3,126 | 2,212 | 1,860 | 73 | |
65 |
14,916 | 14,163 | 12,132 | 11,916 | 3,126 | 2,212 | 1,860 | 73 | |
9903 |
75,084 | 25,662 | 108,104 | 83,401 | 183,438 | 123,279 | 53,530 | 21,277 | |
67/77 |
23,450 | 9,568 | 36,348 | 25,499 | 41,885 | 33,077 | 20,519 | 6,412 | |
9904 |
51,634 | 16,094 | 71,756 | 57,902 | 141,553 | 90,203 | 33,011 | 14,866 | |
9905 |
51,634 | 16,094 | 71,756 | 57,902 | 141,553 | 90,203 | 33,011 | 14,866 | |
| Appropriation of the result | |||||||||
9906 |
53,459 | 17,826 | 73,431 | 59,475 | 143,073 | 91,520 | 33,817 | 14,866 | |
14P |
1,826 | 1,731 | 1,675 | 1,573 | 1,520 | - | - | - | |
791/2 |
90,000 | 32,500 | 11,400 | - | - | - | - | - | |
691/2 |
51,600 | 16,000 | 71,700 | 57,800 | 141,500 | 90,000 | 32,500 | 13,260 | |
6920 |
- | - | - | - | - | - | - | 1,860 | |
6921 |
51,600 | 16,000 | 71,700 | 57,800 | 141,500 | 90,000 | 32,500 | 11,400 | |
694/7 |
90,000 | 32,500 | 11,400 | - | - | - | - | 1,600 | |
694 |
90,000 | 32,500 | 11,400 | - | - | - | - | 1,600 | |
| Social balance sheet | |||||||||
9087 |
- | - | 0.3 | 1 | 0.3 | - | - | - | |
Hours worked1013 |
- | - | 270 | 888 | 160 | - | - | - | |
| Document | |||||||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 28-09-2026.
2025 annual accounts filed 59 days after the deadline. Filed on 28 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00532679.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-09-2026 | 2026-00532679 | |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00515351 | |
| 31-12-2023 | micro format | 07-10-2024 | 2024-00499471 | |
| 31-12-2022 | micro format | 28-07-2023 | 2023-00285334 | |
| 31-12-2021 | micro format | 26-08-2022 | 2022-20410582 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-58900213 | |
| 31-12-2019 | micro format | 09-11-2020 | 2020-69800433 | |
| 31-12-2018 | micro format | 18-07-2019 | 2019-36000182 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| 129,128 | 79,487 | 156,798 | 122,039 | 211,663 | 135,373 | 65,411 | 27,377 | ||
| 90,767 | 55,858 | 108,387 | 84,628 | 166,653 | 100,094 | 43,055 | 20,926 | ||
| 19,487 | 78,305 | 96,299 | 58,815 | 320,278 | 41,919 | 17,786 | 15,014 | ||
| -3,821 | -95,810 | 95,241 | -18,773 | 43,669 | 90,485 | 6,177 | - | ||
| 180,127 | 229,429 | 258,140 | 225,049 | 170,405 | 95,663 | 36,581 | 10,512 | ||
| 44.6% | 51.1% | 51.3% | 52.8% | 42.7% | 56.0% | 62.0% | 44.9% | ||
| 1.75 | 2.56 | 3.17 | 4.09 | 2.09 | 1.85 | 2.12 | 1.44 | ||
| 1.24 | 0.96 | 0.95 | 0.89 | 1.34 | 0.79 | 0.61 | 1.23 | ||
| 14.8% | 4.2% | 17.8% | 16.9% | 49.7% | 62.9% | 62.0% | 76.4% | ||
| 6.6% | 2.1% | 9.1% | 8.9% | 21.2% | 35.2% | 38.4% | 34.3% | ||
| 8.66 | 5.61 | 12.92 | 10.24 | 67.71 | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|
| Employees at the balance-sheet date | - | 1 | 1 |
| part-time | - | 1 | 1 |
| in full-time equivalents | - | 0.5 | 0.5 |
| 0.2 | 0.5 | 0.1 | |
| On a permanent contract | - | 1 | 1 |
| Joined | 0 | - | 1 |
| Left | 1 | - | 0 |
Source: social balance sheet in the 2021 to 2023 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €27,500 | €27,500 | €27,500 | €27,500 | €27,500 |
| €324,060 | €324,060 | €324,060 | €324,060 | €324,060 | |
| Carrying value of the mortgaged assets | €251,465 | €261,020 | €270,574 | €280,128 | €280,071 |
| €27,500 | €27,500 | €27,500 | €27,500 | €27,500 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €19,487 | €78,305 | €96,299 | €58,815 | €320,278 |
| €39,133 | €39,764 | €36,630 | €26,726 | €25,100 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 127% higher than in 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total rises from 48.9% to 55.4%. Equity is lower and debt is higher.
COMFLOW has no parent and no holdings in its annual accounts. COMFLOW shares no director with another company.
| Garmonbozia
registered office since 16-01-2026 |
founded in 2026 1033.125.521 |
| Callewaert Sandra
registered office since 04-10-2023 |
founded in 2023 1000.773.150 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 13 July 2017, COMFLOW was incorporated by two natural persons, with a starting capital of €18,600.12 In 2024 the registered office moved to Wetteren.3 Today the board has 2 members.4 Total assets went from €43,360 in 2018 to €781,907 in 2025 and headcount from 0.3 full-time equivalents in 2021 to 0.3 in 2023.5
| Establishment | Since | Unit number |
|---|---|---|
| Warandelaan 50 registered office 9230 Wetteren | ||
| Gaversesteenweg 463 9820 Merelbeke-Melle 1429901 Manufacture of wearing apparel | 20-07-2017 | 2.266.060.748 |
| Slekkebeek 76 9230 Wetteren 1429901 Manufacture of wearing apparel | 01-10-2021 | 2.323.302.626 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 42302C0244/00V000 | 954 m² | 1 · 95 m² | 7.9 m · 2 |
| 44412B0904/00B002 | 306 m² | 1 · 97 m² | 6.4 m · 2 |
| 42302D0897/00V005 | 219 m² | 1 · 167 m² | 11.1 m · 2 |
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