COMM'PLETE
ActiveFinancials · financial year 2025, abbreviated format
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, 2026-00528088.
Annual accounts 2025 filed on 28-09-2026 at the NBB all 32 filings
Amounts without an identifiable currency are taken as euros.
Turnover
≈ €78,000
Estimated: probably between €54,000 and €100,000
Total assets
€170,953▼ 40.3%
2024 · €286,173
Net result
€25,982
2024 · -€5,242
Working capital
€139,960▼ 47.8%
2024 · €268,173
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€26,832
2025
20182025
Net result
€25,982
2025
middle half of the sector
20182025
Equity
€146,812
▲ 21.5%
2025
middle half of the sector
20182025
Total assets
€170,953
▼ 40.3%
2025
middle half of the sector
20182025
Debt
€24,140
▼ 85.4%
2025
20182025
Working capital
€139,960
▼ 47.8%
2025
middle half of the sector
20182025
Solvency
85.9%
▲ 43.7pp
2025
highest quarter of the sector
20182025
Current ratio
6.80
▼ 18.40
2025
highest quarter of the sector
20182025
Return on assets (ROA)
15.2%
▲ 17.0pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€20,906-€18,453▼ 11.7%-€9,260€7,444-€8,067-€1,498▲ 81.4%-€14,130▼ 843%€26,832
Net result€12,799-€19,480▲ 52.2%€1,354within the sector's middle half▼ 93.1%€13,288within the sector's middle half▲ 882%-€1,215below the sector's middle half€3,931within the sector's middle half-€5,242below the sector's middle half€25,982within the sector's middle half
Equity€89,236-€108,716▲ 21.8%€110,069within the sector's middle half▲ 1.2%€123,357within the sector's middle half▲ 12.1%€122,142within the sector's middle half▼ 1.0%€126,073within the sector's middle half▲ 3.2%€120,830within the sector's middle half▼ 4.2%€146,812within the sector's middle half▲ 21.5%
Total assets€214,932-€202,991▼ 5.6%€145,028within the sector's middle half▼ 28.6%€127,057within the sector's middle half▼ 12.4%€170,046within the sector's middle half▲ 33.8%€132,098within the sector's middle half▼ 22.3%€286,173within the sector's middle half▲ 117%€170,953within the sector's middle half▼ 40.3%
Debt€125,696-€94,275▼ 25.0%€34,958▼ 62.9%€3,700▼ 89.4%€47,904▲ 13×€6,025▼ 87.4%€165,343▲ 27×€24,140▼ 85.4%
Working capital€80,933-€101,336▲ 25.2%€127,080above the sector's middle half▲ 25.4%€116,505above the sector's middle half▼ 8.3%€114,469above the sector's middle half▼ 1.7%€118,778above the sector's middle half▲ 3.8%€268,173above the sector's middle half▲ 126%€139,960within the sector's middle half▼ 47.8%
Solvency41.5%-53.6%▲ 12.0pp75.9%above the sector's middle half▲ 22.3pp97.1%above the sector's middle half▲ 21.2pp71.8%within the sector's middle half▼ 25.3pp95.4%above the sector's middle half▲ 23.6pp42.2%within the sector's middle half▼ 53.2pp85.9%above the sector's middle half▲ 43.7pp
Current ratio1.64-2.07▲ 0.4312.45above the sector's middle half▲ 10.3832.48above the sector's middle half▲ 20.033.39within the sector's middle half▼ 29.0920.71above the sector's middle half▲ 17.3225.19above the sector's middle half▲ 4.486.80above the sector's middle half▼ 18.40
Return on assets (ROA)6.0%-9.6%▲ 3.6pp0.9%within the sector's middle half▼ 8.7pp10.5%within the sector's middle half▲ 9.5pp-0.7%below the sector's middle half▼ 11.2pp3.0%within the sector's middle half▲ 3.7pp-1.8%below the sector's middle half▼ 4.8pp15.2%above the sector's middle half▲ 17.0pp
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 profit of €26,832, after a loss of €14,130 in 2024. It is the highest result since 2021.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €170,953
Fixed assets
€6,852 ▼ 0.9%
Current assets
€164,101 ▼ 41.2%
Equity and liabilities €170,953
Equity
€146,812 ▲ 21.5%
Debt
€24,140 ▼ 85.4%
Debt's share of the balance-sheet total falls from 57.8% to 14.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€26,897▲
2024 · -€13,751
Cash flow
€26,046▲
2024 · -€4,864
Debt to equity
0.16▼
2024 · 1.37
ROE
17.7%▲
2024 · -4.3%
Interest coverage
41.14▲
2024 · -22.60
Debt ≤ 1 year
€24,140▲
2024 · €11,084
Income taxes
€9,409▲
2024 · -€29
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €1,135 | - | - | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | - | €314 | €378 | €378 | €64 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €923 | €923 | €527 | - | €314 | €378 | €378 | €64 | ▼ 83.0% |
| Other operating charges640/8 | - | - | - | €348 | €221 | €484 | €387 | €2,318 | ▲ 499% |
| Gross operating margin9900 | €24,318 | €19,737 | -€8,345 | €7,792 | -€7,532 | -€635 | -€13,364 | €29,215 | - |
| Operating profit (loss)9901 | €20,906 | €18,453 | -€9,260 | €7,444 | -€8,067 | -€1,498 | -€14,130 | €26,832 | - |
| Financial income75/76B | - | - | - | €6,690 | €7,649 | €7,383 | €9,467 | €9,212 | ▼ 2.7% |
| Recurring financial income75 | €8,293 | €8,508 | €10,996 | €6,690 | €7,649 | €7,383 | €9,467 | €9,212 | ▼ 2.7% |
| Financial charges65/66B | - | - | - | €613 | €650 | €572 | €608 | €654 | ▲ 7.5% |
| Recurring financial charges65 | €1,695 | €694 | €655 | €613 | €650 | €572 | €608 | €654 | ▲ 7.5% |
| Profit (loss) for the period before taxes9903 | €27,504 | €26,268 | €1,081 | €13,522 | -€1,069 | €5,313 | -€5,272 | €35,390 | - |
| Income taxes67/77 | €14,705 | €6,788 | -€273 | €234 | €146 | €1,382 | -€29 | €9,409 | - |
| Profit (loss) for the period9904 | €12,799 | €19,480 | €1,354 | €13,288 | -€1,215 | €3,931 | -€5,242 | €25,982 | - |
| Profit (loss) for the period to be appropriated9905 | €12,799 | €19,480 | €1,354 | €13,288 | -€1,215 | €3,931 | -€5,242 | €25,982 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €214,932 | €202,991 | €145,028 | €127,057 | €170,046 | €132,098 | €286,173 | €170,953 | ▼ 40.3% |
| Formation expenses20 | €0 | €0 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €8,303 | €7,379 | €6,852 | €6,852 | €7,673 | €7,295 | €6,916 | €6,852 | ▼ 0.9% |
| Intangible fixed assets21 | €0 | €0 | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €1,451 | €527 | - | - | €821 | €443 | €64 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | - | €821 | €443 | €64 | €0 | ▼ 100% |
| Financial fixed assets28 | €6,852 | €6,852 | €6,852 | €6,852 | €6,852 | €6,852 | €6,852 | €6,852 | = |
| Current assets29/58 | €206,629 | €195,612 | €138,176 | €120,205 | €162,373 | €124,803 | €279,257 | €164,101 | ▼ 41.2% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €183,219 | €171,585 | €113,380 | €111,675 | €148,345 | €117,070 | €202,272 | €139,528 | ▼ 31.0% |
| Trade receivables40 | - | - | - | €2,403 | €2,370 | €2,318 | €77,503 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €109,271 | €145,975 | €114,752 | €124,770 | €139,528 | ▲ 11.8% |
| Current investments50/53 | €0 | €0 | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €14,815 | €15,170 | €12,934 | €1,491 | €6,029 | €0 | €55,275 | €9,390 | ▼ 83.0% |
| Deferred charges and accrued income490/1 | - | - | - | €7,040 | €7,999 | €7,733 | €21,710 | €15,182 | ▼ 30.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €214,932 | €202,991 | €145,028 | €127,057 | €170,046 | €132,098 | €286,173 | €170,953 | ▼ 40.3% |
| Equity10/15 | €89,236 | €108,716 | €110,069 | €123,357 | €122,142 | €126,073 | €120,830 | €146,812 | ▲ 21.5% |
| Contributions10/11 | €105,355 | €105,355 | €105,355 | €105,355 | €105,355 | €105,355 | €105,355 | €105,355 | = |
| Capital10 | - | - | - | €105,355 | €105,355 | €105,355 | €105,355 | €105,355 | = |
| Issued capital100 | - | - | - | €105,355 | €105,355 | €105,355 | €105,355 | €105,355 | = |
| Reserves13 | €10,535 | €10,535 | €10,535 | €10,535 | €10,535 | €10,535 | €10,535 | €10,535 | = |
| Non-distributable reserves130/1 | - | - | - | €10,535 | €10,535 | €10,535 | €10,535 | €10,535 | = |
| Legal reserve130 | - | - | - | €10,535 | €10,535 | €10,535 | €10,535 | €10,535 | = |
| Profit (loss) carried forward14 | -€26,654 | -€7,175 | -€5,821 | €7,467 | €6,252 | €10,183 | €4,940 | €30,922 | ▲ 526% |
| Amounts payable17/49 | €125,696 | €94,275 | €34,958 | €3,700 | €47,904 | €6,025 | €165,343 | €24,140 | ▼ 85.4% |
| Amounts payable within one year42/48 | €125,696 | €94,275 | €11,096 | €3,700 | €47,904 | €6,025 | €11,084 | €24,140 | ▲ 118% |
| Financial debts43 | - | - | - | - | - | €2,832 | €0 | - | - |
| Credit institutions430/8 | - | - | - | - | - | €2,832 | €0 | - | - |
| Trade debts44 | €99,216 | €76,529 | €3,277 | €3,234 | €47,523 | €1,665 | €2,633 | €14,731 | ▲ 459% |
| Suppliers440/4 | - | - | - | €3,234 | €47,523 | €1,665 | €2,633 | €14,731 | ▲ 459% |
| Taxes, remuneration and social security45 | - | - | - | €467 | €381 | €1,529 | €8,451 | €9,409 | ▲ 11.3% |
| Taxes450/3 | - | - | - | €467 | €381 | €1,529 | €8,451 | €9,409 | ▲ 11.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €154,259 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,799 | €19,480 | €1,354 | €13,288 | -€1,215 | €3,931 | -€5,242 | €25,982 | - |
| + Depreciation and write-downs630 | €923 | €923 | €527 | - | €314 | €378 | €378 | €64 | ▼ 83.0% |
| Operating cash flow (approximation) | €13,722 | €20,403 | €1,881 | €13,288 | -€901 | €4,309 | -€4,864 | €26,046 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€1,135 | €0 | €0 | €0 | - |
| Change in cash | - | €356 | -€2,237 | -€11,443 | €4,539 | -€6,029 | €55,275 | -€45,884 | - |
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, 31,368 companies had the same profile as COMM'PLETE has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of COMM'PLETE itself: 0.3% 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 31,368 companies, not a prediction for COMM'PLETE. 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 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 28-09-2026 | 2026-00528088 | |
| 31-12-2024 | micro format | 26-09-2025 | 2025-00505521 | |
| 31-12-2023 | micro format | 26-09-2024 | 2024-00473975 | |
| 31-12-2022 | micro format | 28-08-2023 | 2023-00361351 | |
| 31-12-2021 | micro format | 28-07-2022 | 2022-20238406 | |
| 31-12-2020 | micro format | 24-06-2021 | 2021-23900306 | |
| 31-12-2019 | micro format | 08-10-2020 | 2020-60000206 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-55300113 | |
| 31-12-2017 | micro format | 31-10-2018 | 2018-70800386 | |
| 31-12-2016 | micro format | 28-09-2017 | 2017-63100227 |