Equity
-€11,627
Debts exceed assets in financial year 2025.
COMMERCEWORKS
Lifetime
14 annual accounts with figures on one time axis, 24 filings since 2001peak €254,427 (2014)
€25,271▲ 204%
lowest -€20,989 (2017)
€24,167▲ 234%
peak €43,649 (2015)
-€11,627▲ €24,167
€17,757▼ 57.6%
Board5 names since 2020
4 directorsDOYLE Kevin and 3 others
Documentsfilings and deeds
24-04-202698 days before the deadline
2025micro format
Gross margin from €8,321 to €25,271Result from €7,233 to €24,167Equity from -€35,794 to -€11,627Debts from €41,845 to €17,757Investments €1,909Cash from €1,282 to €2,352
Key points
from the 2025 annual accountsTurnover
≈ €74,000 estimated
The micro format states no turnover.
Debts
€17,757 290% of the balance sheet
Financial debts 9%Suppliers 16%Taxes and wages 2%Other 72%
Of this, €17,735 falls due within a year.
Investments
€1,909 5.7 × depreciation
Green is investment, beige is depreciation.
Filings
24 annual accounts since 2001
Five of the last ten came late. The 2020 accounts came latest: 61 days after the end of the period.
Position in the sector
-189.7%
Lower solvency than 95% of companies in head offices and management consultancy. Sector median 55.5% · 39,364 companies.
Checked score
56
Fair
Financially stronger than 50% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.6%
01-2025: 0.6%● unchanged vs 12-2024
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.7%▲ +0.1 percentage points vs 03-2025
05-2025: 0.7%● unchanged vs 04-2025highest value
06-2025: 0.4%▼ -0.3 percentage points vs 05-2025
07-2025: 0.4%● unchanged vs 06-2025
08-2025: 0.4%● unchanged vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.3%▼ -0.1 percentage points vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.1%▼ -0.2 percentage points vs 07-2026lowest value
09-2026: 0.1%● unchanged vs 08-2026lowest value
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€11,627
lowers risk
Size: total assets €6,130
Sector: Activities of head offices; management consultancy activities (NACE 70)
Liquidity: current ratio 0.25, cash €2,352
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 3% of them on solvency, 28% on liquidity, 84% on profitability and 84% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 3,794 companies had the same profile as COMMERCEWORKS has now. Each dot stands for 10 companies, two years later.
91.5%
were still trading
5.3%
stopped another way
2.7%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of COMMERCEWORKS itself is lower: 0.1% within 12 months. It rests on far more data about COMMERCEWORKS than the profile alone.
Test of the method
The method was tested on the 497,447 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 3,794 companies, not a prediction for COMMERCEWORKS. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.25 (0.14 in 2024), below 1. Short-term debt is 289.3% and cash 38.4% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 39364 sector peers (2025).
NBB · sector comparisonPosition among 39364 sector peers
Solvency
better than 5%
← weakest
strongest →
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 24-04-2026, 98 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
98 days early
2024
64 days early
2023
30 days late
2022
30 days late
2020
61 days late
2019
35 days early
2018
69 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 21 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 August (4 of the last 5 accounts filed within 94 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0473693659
Reappointments: DoyleKevin (director) and PrennaAdriano (director)
General meeting of 13-06-2024 · Gazette deed
Registered office moved from Braine-l'Alleud to Strombeek-Bever
New registered office: Mutsaardplein 2A 1853 Strombeek-Bever · Previous registered office: Avenue de l'Orée 26 1420 Braine-l'Alleud · Board meeting of 06-08-2020 · Gazette deed
First establishment
Simply Hooked, Avenue du Zodiaque 28, Waterloo
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| COMMERCEWORKS Waterloo | €6,130 | €25,271 | -189.7% | - |
| MANACO Rixensart | €4,905 | €25,180 | -1607.2% | - |
| FERPIN INVEST Saint-Ghislain | €6,331 | €25,749 | -821.7% | - |
| Life Finance Brussels | €6,167 | €28,356 | -2268.2% | - |
| A R T S Nijlen | €6,323 | €17,799 | -4006.8% | - |
| Soul for Sale Bruges | €5,256 | €21,673 | -246.8% | - |
| KERDUDAL Brasschaat | €9,978 | €22,855 | -124.4% | - |
These companies have the same main activity as COMMERCEWORKS: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €4,900 and €9,980, founded between 1992 and 2007.
Official details
Source: KBO- Status
- Active since 02-01-2001Normal situation
- Activity
- Business and other management consultancyNACE 70200
- Joint committee
- 302Hotels and catering · annual accounts 2022
- Establishment unit
- 2.306.190.0441410 Waterloo, since 24-08-2020
- Financial year end
- 31 December
- Peppol
- Reachable since 30-08-2025
Annual accounts 2025
- €6,130▲ 1.3%
- Filing
- Filed on 24-04-2026, 98 days before the end of the filing period
Insights on COMMERCEWORKS
COMMERCEWORKS files the micro format. That format states no turnover. The gross margin fell from €136,683 in 2011 to €25,271 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about COMMERCEWORKS
- What is the company number of COMMERCEWORKS?
- The company number of COMMERCEWORKS is 0473.693.659. The VAT number is the same number with BE in front: BE 0473.693.659.
- Where is COMMERCEWORKS based?
- The registered office is at Avenue du Zodiaque 28, 1410 Waterloo.Company details
- What does COMMERCEWORKS do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of COMMERCEWORKS?
- COMMERCEWORKS is a public limited company (NV).
- When was COMMERCEWORKS founded?
- COMMERCEWORKS was founded on 02-01-2001.
- Is COMMERCEWORKS still active?
- Yes, COMMERCEWORKS is an active enterprise in the KBO register.
- Which joint committee does COMMERCEWORKS fall under?
- In its 2022 annual accounts, COMMERCEWORKS states joint committee 302 (Hotels and catering).
- What is the turnover of COMMERCEWORKS?
- The turnover in financial year 2025 is ≈ €74,000. This figure is estimated from the gross margin of €25,271 and 144 comparable companies (NACE 70200). It probably lies between €44,000 and €100,000.Financials
- Is COMMERCEWORKS profitable?
- In financial year 2025, COMMERCEWORKS made a profit of €24,167.
- Where can I find the annual accounts of COMMERCEWORKS?
- COMMERCEWORKS filed 24 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of COMMERCEWORKS due?
- COMMERCEWORKS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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