Equity
COMMLINK has made a profit in every financial year since 2009.
COMMLINK has made a profit in every financial year since 2009.
Nine of the last ten came late. The 2017 accounts came latest: 547 days after the end of the period.
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 (no NACE code, small). It does better than 82% of them on solvency, 76% on liquidity, 12% on profitability and 50% 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 30-09-2025.
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).
In July 2024, 6,049 companies had the same profile as COMMLINK has now. Each dot stands for 16 companies, two years later.
That fits the bankruptcy probability of COMMLINK itself: < 0.1% within 12 months.
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 6,049 companies, not a prediction for COMMLINK. 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.
Liquidity is ample, with a current ratio of 86.16, above the usual 1.5. Short-term debt is 0.9% and cash 5.1% of total assets. 0.9% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 132 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
COMMLINK files the abbreviated format. That format states no turnover. The gross margin fell from €208,589 in 2009 to -€766 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||
20/58 |
2.6m | 2.6m | 2.5m | 2.5m | 2.5m | 3.1m | 3.3m | 2.6m | 2.6m | 2.4m | 3.0m | 572,441 | 410,313 | 470,174 | 317,740 | 244,889 | |
21/28 |
688,296 | 696,088 | 703,880 | 711,671 | 720,259 | 730,895 | 815,282 | 723,665 | 528,190 | - | 487,555 | 2,603 | 4,065 | 6,126 | 7,460 | 8,058 | |
22/27 |
688,296 | 696,088 | 703,880 | 711,671 | 720,259 | 730,895 | 740,282 | 643,689 | 527,590 | 491,494 | 487,555 | 2,603 | 4,065 | 6,126 | 7,460 | 8,058 | |
22 |
670,675 | 675,685 | 680,694 | 685,703 | 690,712 | 695,722 | 700,731 | 626,899 | 509,977 | 465,612 | 440,426 | - | - | - | - | - | |
23 |
793 | 1,189 | 1,586 | 1,982 | 2,378 | 2,775 | 3,171 | 3,568 | - | - | - | - | - | - | - | - | |
24 |
5,358 | 7,744 | 10,130 | 12,516 | 15,698 | 20,928 | 24,910 | 8,722 | 13,112 | 25,188 | 45,741 | - | 768 | 2,135 | 2,776 | 2,679 | |
26 |
11,470 | 11,470 | 11,470 | 11,470 | 11,470 | 11,470 | 11,470 | 4,500 | 4,500 | 694 | 1,388 | 2,603 | 3,297 | 3,991 | 4,685 | 5,379 | |
28 |
- | - | - | - | - | - | 75,000 | 79,977 | 600 | 600 | - | - | - | - | - | - | |
29/58 |
1.9m | 1.9m | 1.8m | 1.8m | 1.8m | 2.3m | 2.5m | 1.9m | 2.1m | 1.9m | 2.5m | 569,839 | 406,248 | 464,048 | 310,280 | 236,831 | |
40/41 |
1.8m | 1.1m | 966,766 | 819,299 | 635,523 | 135,083 | 282,656 | 170,487 | 156,530 | 160,082 | 143,395 | 125,311 | 92,509 | - | 130,802 | 27,750 | |
40 |
- | - | - | - | - | - | 28,435 | 28,435 | 28,435 | 45,463 | 42,357 | 51,780 | 25,331 | - | 60,500 | 1,565 | |
41 |
1.8m | 1.1m | 966,766 | 819,299 | 635,523 | 135,083 | 254,221 | 142,052 | 128,095 | 114,619 | 101,038 | 73,532 | 67,177 | - | 70,302 | 26,185 | |
50/53 |
- | - | - | - | - | 881,517 | 917,099 | 1.5m | 1.7m | 1.6m | 1.8m | 204,441 | 197,560 | - | - | - | |
54/58 |
132,485 | 731,776 | 849,688 | 966,160 | 1.1m | 1.3m | 1.3m | 230,786 | 256,365 | 135,171 | 547,101 | 240,086 | 116,179 | 464,048 | 179,478 | 209,081 | |
490/1 |
- | - | - | 0 | 1,147 | 1,294 | 1,752 | 881 | - | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||
10/49 |
2.6m | 2.6m | 2.5m | 2.5m | 2.5m | 3.1m | 3.3m | 2.6m | 2.6m | 2.4m | 3.0m | 572,441 | 410,313 | 470,174 | 317,740 | 244,889 | |
10/15 |
2.6m | 2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.1m | 1.9m | 1.8m | 1.6m | 473,047 | 298,917 | 147,910 | 248,735 | 141,426 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | - | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
10 |
- | - | - | - | - | - | - | - | - | 6,200 | - | - | - | - | - | - | |
100 |
- | - | - | - | - | - | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | |
101 |
- | - | - | - | - | - | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | |
13 |
2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.1m | 1.6m | 1.5m | 1.4m | 1.2m | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | |
130/1 |
1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | |
1311 |
1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | - | - | - | - | - | - | - | - | - | - | |
133 |
2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.1m | 1.6m | 1.5m | 1.4m | 1.2m | - | - | - | - | - | |
14 |
32,374 | 32,374 | 32,374 | 13,104 | 43 | - | 404,992 | 404,992 | 404,992 | 404,992 | 404,992 | 464,992 | 290,862 | 139,855 | 240,680 | 133,371 | |
17/49 |
24,015 | 14,999 | 8,904 | 4,971 | 7,986 | 572,960 | 789,480 | 581,718 | 656,179 | 597,927 | 1.4m | 99,394 | 111,396 | 322,263 | 69,005 | 103,463 | |
17 |
- | - | - | - | - | 172,488 | 226,665 | 279,953 | 332,411 | 384,041 | 417,285 | - | - | - | - | - | |
170/4 |
- | - | - | - | - | 172,488 | 226,665 | 279,953 | 332,411 | 384,041 | 417,285 | - | - | - | - | - | |
42/48 |
21,960 | 13,944 | 8,654 | 4,971 | 7,986 | 400,471 | 562,815 | 301,765 | 323,768 | 213,886 | 974,824 | 99,394 | 111,396 | 321,586 | 67,417 | 103,463 | |
42 |
- | - | - | - | - | 54,245 | 53,343 | 52,490 | 51,630 | 59,352 | 66,565 | - | - | - | - | - | |
44 |
2,144 | 988 | 1,121 | 371 | 3,673 | 298 | 35,017 | 3,285 | 798 | 23,334 | 17,114 | 1,141 | 2,379 | 1,331 | 17 | 427 | |
440/4 |
2,144 | 988 | 1,121 | 371 | 3,673 | 298 | 35,017 | 3,285 | 798 | 23,334 | 17,114 | 1,141 | 2,379 | 1,331 | 17 | 427 | |
45 |
19,815 | 12,956 | 7,533 | 4,600 | 4,312 | 345,928 | 474,455 | 245,991 | 271,339 | 131,200 | 891,145 | 98,254 | 109,017 | 188,620 | 67,400 | 103,035 | |
450/3 |
19,815 | 12,956 | 7,533 | 4,600 | 4,312 | 345,928 | 474,455 | 245,991 | 271,339 | 131,200 | 891,145 | 98,254 | 108,644 | 188,620 | 67,400 | 103,035 | |
454/9 |
- | - | - | - | - | - | - | - | - | - | - | - | 372 | - | - | - | |
47/48 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 131,635 | - | - | |
492/3 |
2,055 | 1,055 | 250 | - | - | - | - | - | - | - | - | - | - | 678 | 1,588 | - | |
| Income statement | |||||||||||||||||
76A |
- | - | - | - | - | - | - | - | - | - | 5,660 | - | - | - | - | - | |
9900 |
-766 | 6,224 | 7,848 | 2,472 | -91,845 | 575,927 | 660,108 | 220,008 | 259,221 | 261,499 | 2.0m | 260,942 | 229,830 | 184,045 | 154,458 | 208,589 | |
630 |
7,792 | 7,792 | 7,792 | 8,588 | 10,635 | 10,635 | 10,219 | 11,699 | 24,864 | 22,667 | 88,668 | 1,462 | 2,061 | 2,133 | 1,891 | 2,625 | |
640/8 |
2,839 | 1,938 | 2,175 | 2,979 | 1,240 | 959 | 5,343 | 840 | 888 | 869 | 3,747 | 1,858 | 1,598 | 287 | 250 | 238 | |
9901 |
-11,398 | -3,506 | -2,119 | -9,094 | -103,721 | 564,332 | 644,546 | 207,469 | 233,470 | 237,963 | 1.9m | 257,621 | 226,172 | 181,625 | 152,317 | 205,726 | |
75/76B |
50,936 | 39,660 | 23,128 | 20,539 | 79,764 | 101,147 | 38,831 | 19,919 | 28,719 | - | 198,576 | 11,578 | 3,690 | 10,312 | 8,134 | 2,095 | |
75 |
50,936 | 39,660 | 23,128 | 20,539 | 79,764 | 101,147 | 38,831 | 19,919 | 28,719 | 20,547 | 198,576 | 11,578 | 3,690 | 10,312 | 8,134 | 2,095 | |
65/66B |
452 | 148 | 283 | 284 | 8,092 | 4,491 | 11,953 | 7,261 | -31,652 | - | 103,433 | 288 | 206 | 132 | 132 | 474 | |
65 |
452 | 148 | 283 | 284 | 8,092 | 4,491 | 11,953 | 7,261 | -31,652 | -11,227 | 103,433 | 288 | 206 | 132 | 132 | 474 | |
9903 |
39,086 | 36,006 | 20,725 | 11,160 | -32,048 | 660,989 | 671,424 | 220,127 | 293,841 | 269,737 | 2.1m | 268,911 | 229,656 | 191,806 | 160,319 | 207,347 | |
67/77 |
24,694 | 5,623 | 1,455 | -1,901 | -32,091 | 255,349 | 246,251 | 108,532 | 145,054 | 91,431 | 848,797 | 94,781 | 78,650 | 62,630 | 53,011 | 72,121 | |
9904 |
14,393 | 30,384 | 19,270 | 13,061 | 43 | 405,639 | 425,173 | 111,595 | 148,787 | 178,306 | 1.2m | 174,130 | 151,006 | 129,176 | 107,308 | 135,226 | |
9905 |
14,393 | 30,384 | 19,270 | 13,061 | 43 | 405,639 | 425,173 | 111,595 | 148,787 | 178,306 | 1.2m | 174,130 | 151,006 | 129,176 | 107,308 | 135,226 | |
| Appropriation of the result | |||||||||||||||||
9906 |
46,767 | 62,757 | 32,374 | 13,104 | 43 | 810,631 | 830,165 | 516,587 | 553,779 | 583,298 | 1.7m | 464,992 | 290,862 | 369,855 | 240,680 | 135,226 | |
14P |
32,374 | 32,374 | 13,104 | 43 | - | - | - | - | - | 404,992 | - | - | - | - | - | - | |
691/2 |
14,393 | 30,384 | - | - | - | 405,639 | 425,173 | 111,595 | 148,787 | 178,306 | 1.2m | - | - | - | - | 1,855 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,855 | |
6921 |
14,393 | 30,384 | - | - | - | 405,639 | 425,173 | 111,595 | 148,787 | 178,306 | 1.2m | - | - | - | - | - | |
694/7 |
- | - | - | - | - | 404,992 | - | - | - | - | 60,000 | - | - | 230,000 | - | - | |
694 |
- | - | - | - | - | 404,992 | - | - | - | - | 60,000 | - | - | 230,000 | - | - | |
| Document | |||||||||||||||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 30-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 30-04-2026 | 2026-00097651 | |
| 30-09-2024 | abbreviated format | 26-05-2025 | 2025-00107845 | |
| 30-09-2023 | abbreviated format | 03-10-2024 | 2024-00497749 | |
| 30-09-2022 | abbreviated format | 03-10-2024 | 2024-00497785 | |
| 30-09-2021 | micro format | 29-09-2022 | 2022-20440529 | |
| 30-09-2020 | micro format | 23-06-2021 | 2021-23300268 | |
| 30-09-2019 | micro format | 11-05-2020 | 2020-11800145 | |
| 30-09-2018 | micro format | 29-10-2019 | 2019-71900540 | |
| 30-09-2017 | micro format | 29-10-2019 | 2019-71900539 | |
| 30-09-2016 | abbreviated format | 26-06-2017 | 2017-23200095 | |
| 30-09-2015 | abbreviated format | 31-03-2016 | 2016-08100063 | |
| 31-12-2013 | abbreviated format | 29-08-2014 | 2014-49800254 | |
| 31-12-2012 | abbreviated format | 01-10-2013 | 2013-60500159 | |
| 31-12-2011 | abbreviated format | 30-07-2012 | 2012-34900089 | |
| 31-12-2010 | abbreviated format | 30-01-2012 | 2012-01800018 | |
| 31-12-2009 | abbreviated format | 20-10-2010 | 2010-58200578 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -3,606 | 4,286 | 5,672 | -506 | -93,085 | 574,968 | 654,765 | 219,168 | 258,334 | 260,630 | 2.0m | 259,083 | 228,233 | 183,758 | 154,208 | 208,351 | ||
| 22,185 | 38,175 | 27,061 | 21,649 | 10,678 | 416,275 | 435,392 | 123,294 | 173,651 | 200,973 | 1.3m | 175,593 | 153,067 | 131,309 | 109,199 | 137,851 | ||
| 0 | 0 | 0 | 0 | 0 | 1,248 | 106,813 | 207,174 | 60,960 | 27,206 | 573,621 | 0 | 0 | 799 | 1,293 | 9,883 | ||
| -599,291 | -117,912 | -116,472 | -163,995 | -173,072 | 52,127 | 1.0m | -25,579 | 121,194 | -411,930 | - | 123,907 | -347,869 | 284,570 | -29,603 | - | ||
| 1.9m | 1.8m | 1.8m | 1.8m | 1.8m | 1.9m | 1.9m | 1.6m | 1.7m | 1.7m | 1.5m | 470,444 | 294,852 | 142,462 | 242,863 | 133,369 | ||
| 99.1% | 99.4% | 99.6% | 99.8% | 99.7% | 81.2% | 75.8% | 77.9% | 74.7% | 75.0% | 53.7% | 82.6% | 72.9% | 31.5% | 78.3% | 57.8% | ||
| 86.16 | - | - | - | - | 5.80 | 4.36 | 6.33 | 6.39 | 8.88 | 2.58 | 5.73 | 3.65 | 1.44 | 4.60 | 2.29 | ||
| 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.23 | 0.32 | 0.28 | 0.34 | 0.33 | 0.86 | 0.21 | 0.37 | 2.18 | 0.28 | 0.73 | ||
| 0.6% | 1.2% | 0.8% | 0.5% | 0.0% | 16.4% | 17.2% | 5.4% | 7.7% | 9.9% | 74.4% | 36.8% | 50.5% | 87.3% | 43.1% | 95.6% | ||
| 0.6% | 1.2% | 0.8% | 0.5% | 0.0% | 13.3% | 13.0% | 4.2% | 5.7% | 7.5% | 40.0% | 30.4% | 36.8% | 27.5% | 33.8% | 55.2% | ||
| -7.98 | 29.04 | 20.01 | -1.78 | -11.50 | - | - | - | - | -23.21 | - | - | - | - | - | - |
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.
The operating result for 2025 is a loss of €11,398, larger than the loss of €3,506 in 2024. It is the lowest result since 2021.
Debt's share of the balance-sheet total rises from 0.6% to 0.9%. Equity and debt are higher.
COMMLINK has no parent and no holdings in its annual accounts. D'Hondt Matthias is the only director.
The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Deadline for the 2026 accounts: 30-04-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Lindenlei 37 registered office 2640 Mortsel 6499905 Other financial services | 01-12-2008 | 2.203.356.483 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11512B0043/00A007 | 129 m² | 1 · 167 m² | 11.6 m · 3 |
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