COMFORTABLE PROPERTIES
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-07-2026 at the NBB all 31 filings
Equity
€84,120▼ 29.2%
2024 · €118,814
Total assets
€174,607▼ 16.2%
2024 · €208,477
Net result
-€34,694▼ 11.0%
2024 · -€31,244
Working capital
€102,922▼ 18.6%
2024 · €126,462
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€40,744
▼ 19.9%
2025
20182025
Net result
-€34,694
▼ 11.0%
2025
lowest quarter of the sector
20182025
Equity
€84,120
▼ 29.2%
2025
middle half of the sector
20182025
Total assets
€174,607
▼ 16.2%
2025
middle half of the sector
20182025
Debt
€41,456
▲ 20.1%
2025
20182025
Working capital
€102,922
▼ 18.6%
2025
highest quarter of the sector
20182025
Solvency
48.2%
▼ 8.8pp
2025
middle half of the sector
20182025
Current ratio
3.48
▼ 1.18
2025
middle half of the sector
20182025
Return on assets (ROA)
-19.9%
▼ 4.9pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€29,857--€16,667▲ 44.2%€15,148-€690€16,985-€1,472-€33,988▼ 2,209%-€40,744▼ 19.9%
Net result-€31,049--€17,920▲ 42.3%€14,270within the sector's middle half-€1,083within the sector's middle half€14,727within the sector's middle half€321within the sector's middle half▼ 97.8%-€31,244below the sector's middle half-€34,694below the sector's middle half▼ 11.0%
Equity-€44,123--€62,043▼ 40.6%-€47,773below the sector's middle half▲ 23.0%-€48,856below the sector's middle half▼ 2.3%-€34,129below the sector's middle half▲ 30.1%€150,058above the sector's middle half€118,814within the sector's middle half▼ 20.8%€84,120within the sector's middle half▼ 29.2%
Total assets€59,175-€66,030▲ 11.6%€84,432within the sector's middle half▲ 27.9%€89,510within the sector's middle half▲ 6.0%€114,142within the sector's middle half▲ 27.5%€238,625within the sector's middle half▲ 109%€208,477within the sector's middle half▼ 12.6%€174,607within the sector's middle half▼ 16.2%
Debt€103,298-€128,073▲ 24.0%€132,205▲ 3.2%€138,366▲ 4.7%€148,271▲ 7.2%€30,343▼ 79.5%€34,504▲ 13.7%€41,456▲ 20.1%
Working capital-€44,123--€62,043▼ 40.6%-€47,773below the sector's middle half▲ 23.0%-€48,856below the sector's middle half▼ 2.3%-€34,129below the sector's middle half▲ 30.1%€143,488above the sector's middle half€126,462above the sector's middle half▼ 11.9%€102,922above the sector's middle half▼ 18.6%
Solvency-74.6%--94.0%▼ 19.4pp-56.6%below the sector's middle half▲ 37.4pp-54.6%below the sector's middle half▲ 2.0pp-29.9%below the sector's middle half▲ 24.7pp62.9%within the sector's middle half▲ 92.8pp57.0%within the sector's middle half▼ 5.9pp48.2%within the sector's middle half▼ 8.8pp
Current ratio0.57-0.52▼ 0.060.64below the sector's middle half▲ 0.120.65below the sector's middle half▲ 0.010.77below the sector's middle half▲ 0.125.73above the sector's middle half▲ 4.964.67above the sector's middle half▼ 1.063.48within the sector's middle half▼ 1.18
Return on assets (ROA)-52.5%--27.1%▲ 25.3pp16.9%within the sector's middle half▲ 44.0pp-1.2%within the sector's middle half▼ 18.1pp12.9%within the sector's middle half▲ 14.1pp0.1%within the sector's middle half▼ 12.8pp-15.0%below the sector's middle half▼ 15.1pp-19.9%below the sector's middle half▼ 4.9pp
Staff (FTE)2.1-2▼ 4.8%1.3within the sector's middle half▼ 35.0%1▼ 23.1%1.1▲ 10.0%0.3▼ 72.7%
above
within
below
The sector band is the middle half of the companies in Investigation and security activities (NACE 80). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €40,744, larger than the loss of €33,988 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €174,607
Fixed assets
€30,229 ▼ 36.4%
Current assets
€144,378 ▼ 10.3%
Equity and liabilities €174,607
Equity
€84,120 ▼ 29.2%
Provisions
€49,031 ▼ 11.1%
Debt
€41,456 ▲ 20.1%
Debt's share of the balance-sheet total rises from 16.6% to 23.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€23,462▼
2024 · -€16,705
Cash flow
-€17,412▼
2024 · -€13,961
Debt to equity
0.49▲
2024 · 0.29
ROE
-41.2%▼
2024 · -26.3%
Interest coverage
-72.86▼
2024 · -52.04
Debt ≤ 1 year
€41,456▲
2024 · €34,504
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 2 | 1 | - |
| full-time | 1 | - | - |
| part-time | 1 | 1 | - |
| in full-time equivalents | 1.5 | 0.5 | - |
| Average over the year, in full-time equivalents | 1 | 0.5 | 0.1 |
| On a permanent contract | 1 | 1 | - |
| Joined | 1 | 0 | 0 |
| Left | 0 | 1 | 1 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €69,131 | - | - |
| Depreciation and write-downs of the year | - | - | €4,337 | €17,283 | €17,282 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €51,941 | €35,962 | €11,203 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | - | €4,337 | €17,283 | €17,282 | = |
| Other operating charges640/8 | - | - | - | €1,267 | €348 | €832 | €1,675 | €1,308 | ▼ 21.9% |
| Gross operating margin9900 | €64,320 | €67,122 | €62,338 | €52,518 | €53,295 | €14,900 | -€15,030 | -€22,154 | ▼ 47.4% |
| Operating profit (loss)9901 | -€29,857 | -€16,667 | €15,148 | -€690 | €16,985 | -€1,472 | -€33,988 | -€40,744 | ▼ 19.9% |
| Financial income75/76B | - | - | - | - | €2 | - | - | €243 | - |
| Recurring financial income75 | - | - | - | - | €2 | - | - | €243 | - |
| Financial charges65/66B | - | - | - | €393 | €860 | €331 | €321 | €322 | ▲ 0.3% |
| Recurring financial charges65 | €1,192 | €1,253 | €878 | €393 | €860 | €331 | €321 | €322 | ▲ 0.3% |
| Profit (loss) for the period before taxes9903 | -€31,049 | -€17,920 | €14,270 | -€1,083 | €16,127 | -€1,803 | -€34,309 | -€40,823 | ▼ 19.0% |
| Transfer from deferred taxes780 | - | - | - | - | - | €3,064 | €3,065 | €6,129 | ▲ 100.0% |
| Income taxes67/77 | - | - | - | - | €1,400 | €940 | - | - | - |
| Profit (loss) for the period9904 | -€31,049 | -€17,920 | €14,270 | -€1,083 | €14,727 | €321 | -€31,244 | -€34,694 | ▼ 11.0% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | €9,193 | €9,193 | €18,387 | ▲ 100% |
| Profit (loss) for the period to be appropriated9905 | -€31,049 | -€17,920 | €14,270 | -€1,083 | €14,727 | €9,514 | -€22,051 | -€16,307 | ▲ 26.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €59,175 | €66,030 | €84,432 | €89,510 | €114,142 | €238,625 | €208,477 | €174,607 | ▼ 16.2% |
| Fixed assets21/28 | - | - | - | - | - | €64,794 | €47,511 | €30,229 | ▼ 36.4% |
| Tangible fixed assets22/27 | - | - | - | - | - | €64,794 | €47,511 | €30,229 | ▼ 36.4% |
| Furniture and vehicles24 | - | - | - | - | - | €64,794 | €47,511 | €30,229 | ▼ 36.4% |
| Current assets29/58 | €59,175 | €66,030 | €84,432 | €89,510 | €114,142 | €173,831 | €160,966 | €144,378 | ▼ 10.3% |
| Amounts receivable within one year40/41 | €49,364 | €59,380 | €75,937 | €83,986 | €95,048 | €103,103 | €102,443 | €100,644 | ▼ 1.8% |
| Trade receivables40 | - | - | - | €83,697 | €93,048 | €98,107 | €99,166 | €100,134 | ▲ 1.0% |
| Other amounts receivable41 | - | - | - | €289 | €2,000 | €4,996 | €3,277 | €510 | ▼ 84.4% |
| Cash at bank and in hand54/58 | €872 | - | - | - | €11,933 | €70,562 | €56,880 | €42,247 | ▼ 25.7% |
| Deferred charges and accrued income490/1 | - | - | - | €5,524 | €7,161 | €166 | €1,643 | €1,487 | ▼ 9.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €59,175 | €66,030 | €84,432 | €89,510 | €114,142 | €238,625 | €208,477 | €174,607 | ▼ 16.2% |
| Equity10/15 | -€44,123 | -€62,043 | -€47,773 | -€48,856 | -€34,129 | €150,058 | €118,814 | €84,120 | ▼ 29.2% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €15,859 | €199,932 | €190,739 | €172,352 | ▼ 9.6% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | - | - | €174,673 | €165,480 | €147,093 | ▼ 11.1% |
| Distributable reserves133 | - | - | - | - | €14,000 | €25,259 | €25,259 | €25,259 | = |
| Profit (loss) carried forward14 | -€64,574 | -€82,494 | -€68,224 | -€69,307 | -€68,580 | -€68,466 | -€90,517 | -€106,824 | ▼ 18.0% |
| Provisions and deferred taxes16 | - | - | - | - | - | €58,224 | €55,159 | €49,031 | ▼ 11.1% |
| Deferred taxes168 | - | - | - | - | - | €58,224 | €55,159 | €49,031 | ▼ 11.1% |
| Amounts payable17/49 | €103,298 | €128,073 | €132,205 | €138,366 | €148,271 | €30,343 | €34,504 | €41,456 | ▲ 20.1% |
| Amounts payable within one year42/48 | €103,298 | €128,073 | €132,205 | €138,366 | €148,271 | €30,343 | €34,504 | €41,456 | ▲ 20.1% |
| Financial debts43 | - | - | - | €12,368 | - | - | - | - | - |
| Credit institutions430/8 | - | - | - | €12,368 | - | - | - | - | - |
| Trade debts44 | €3,599 | €2,552 | €712 | €5,657 | €7,981 | €128 | €1,507 | €1,607 | ▲ 6.6% |
| Suppliers440/4 | - | - | - | €5,657 | €7,981 | €128 | €1,507 | €1,607 | ▲ 6.6% |
| Taxes, remuneration and social security45 | - | - | - | €2,837 | €5,997 | €940 | - | - | - |
| Taxes450/3 | - | - | - | - | €1,400 | €940 | - | - | - |
| Remuneration and social security454/9 | - | - | - | €2,837 | €4,597 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €117,504 | €134,293 | €29,275 | €32,997 | €39,849 | ▲ 20.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€31,049 | -€17,920 | €14,270 | -€1,083 | €14,727 | €321 | -€31,244 | -€34,694 | ▼ 11.0% |
| + Depreciation and write-downs630 | - | - | - | - | - | €4,337 | €17,283 | €17,282 | = |
| Operating cash flow (approximation) | -€31,049 | -€17,920 | €14,270 | -€1,083 | €14,727 | €4,658 | -€13,961 | -€17,412 | ▼ 24.7% |
| Investment in fixed assets (approximation) | - | - | - | - | - | - | €0 | €0 | - |
| Change in cash | - | - | - | - | - | €58,629 | -€13,682 | -€14,633 | ▼ 7.0% |
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, 5,831 companies had the same profile as COMFORTABLE PROPERTIES has now. Two years later, 84.6% were still going and 1.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
84.6%
was still going
13.4%
stopped otherwise
1.7%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of COMFORTABLE PROPERTIES itself is lower: 0.1% within 12 months. It rests on far more data about COMFORTABLE PROPERTIES than the profile alone.
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 5,831 companies, not a prediction for COMFORTABLE PROPERTIES. 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.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-07-2026 | 2026-00275523 | |
| 31-12-2024 | micro format | 25-06-2025 | 2025-00210251 | |
| 31-12-2023 | micro format | 19-06-2024 | 2024-00149468 | |
| 31-12-2022 | micro format | 03-07-2023 | 2023-00199368 | |
| 31-12-2021 | micro format | 07-07-2022 | 2022-20166000 | |
| 31-12-2020 | micro format | 20-08-2021 | 2021-51400148 | |
| 31-12-2019 | micro format | 07-07-2020 | 2020-27800378 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-42300578 | |
| 31-12-2017 | micro format | 27-08-2018 | 2018-51100201 | |
| 31-12-2016 | micro format | 29-08-2017 | 2017-53200472 |