Commorreal Construct
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 5 filings
Equity
-€88,552▼ 8.4%
2024 · -€81,692
Total assets
€3,577▼ 83.8%
2024 · €22,027
Net result
-€6,859▼ 60.7%
2024 · -€4,267
Working capital
-€88,552▼ 8.4%
2024 · -€81,692
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
-€6,721
▼ 65.4%
2025
20212025
Net result
-€6,859
▼ 60.7%
2025
lowest quarter of the sector
20212025
Equity
-€88,552
▼ 8.4%
2025
lowest quarter of the sector
20212025
Total assets
€3,577
▼ 83.8%
2025
lowest quarter of the sector
20212025
Debt
€92,129
▼ 11.2%
2025
20212025
Working capital
-€88,552
▼ 8.4%
2025
lowest quarter of the sector
20212025
Solvency
no figure
2025
20212025
Current ratio
no figure
2025
20212025
Return on assets (ROA)
no figure
2025
20212025
Staff (FTE)
no figure
2025
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€17,847--€26,632-€65,156▼ 145%-€4,064▲ 93.8%-€6,721▼ 65.4%
Net result€14,308within the sector's middle half--€27,247below the sector's middle half-€69,487below the sector's middle half▼ 155%-€4,267below the sector's middle half▲ 93.9%-€6,859below the sector's middle half▼ 60.7%
Equity€19,308within the sector's middle half--€7,939below the sector's middle half-€77,425below the sector's middle half▼ 875%-€81,692below the sector's middle half▼ 5.5%-€88,552below the sector's middle half▼ 8.4%
Total assets€104,261within the sector's middle half-€39,131below the sector's middle half▼ 62.5%€20,141below the sector's middle half▼ 48.5%€22,027below the sector's middle half▲ 9.4%€3,577below the sector's middle half▼ 83.8%
Debt€84,952-€47,070▼ 44.6%€97,566▲ 107%€103,720▲ 6.3%€92,129▼ 11.2%
Working capital€12,163within the sector's middle half--€13,786below the sector's middle half-€77,425below the sector's middle half▼ 462%-€81,692below the sector's middle half▼ 5.5%-€88,552below the sector's middle half▼ 8.4%
Solvency18.5%within the sector's middle half--20.3%below the sector's middle half▼ 38.8pp-384.4%below the sector's middle half▼ 364.1pp-370.9%below the sector's middle half▲ 13.5pp
Current ratio1.14within the sector's middle half-0.68below the sector's middle half▼ 0.460.21below the sector's middle half▼ 0.480.21below the sector's middle half▲ 0.01
Return on assets (ROA)13.7%within the sector's middle half--69.6%below the sector's middle half▼ 83.4pp-345.0%below the sector's middle half▼ 275.4pp-19.4%below the sector's middle half▲ 325.6pp
Staff (FTE)0.7-1.7▲ 143%0.7▼ 58.8%
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). 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 €6,721, larger than the loss of €4,064 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Key figures and ratios
Debt ≤ 1 year
€92,129▼
2024 · €103,720
The ratios are withheld because a balance sheet total of €3,577 is too small for a meaningful ratio.
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 | 1 | 3 | - |
| full-time | 1 | 3 | - |
| part-time | 0 | 0 | - |
| in full-time equivalents | 1 | 3 | - |
| Average over the year, in full-time equivalents | 0.6 | 1.7 | 0.7 |
| On a permanent contract | 1 | 3 | - |
| Joined | 1 | 2 | 0 |
| Left | 0 | 0 | 3 |
| Training hours | 27 | 79 | - |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €8,483 | €9,050 | - | - | - |
| Financial fixed assets | €250 | - | - | - | - |
| Depreciation and write-downs of the year | €1,587 | €3,909 | €0 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €12,822 | €60,017 | €31,287 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,587 | €3,909 | €0 | - | - | - |
| Other operating charges640/8 | €1,404 | €322 | €3,977 | €180 | €1,400 | ▲ 677% |
| Non-recurring operating charges66A | - | €3,093 | €7,573 | €0 | - | - |
| Gross operating margin9900 | €33,661 | €40,709 | -€22,319 | -€3,884 | -€5,321 | ▼ 37.0% |
| Operating profit (loss)9901 | €17,847 | -€26,632 | -€65,156 | -€4,064 | -€6,721 | ▼ 65.4% |
| Financial income75/76B | €2 | €0 | €0 | - | €0 | - |
| Recurring financial income75 | €2 | €0 | €0 | - | €0 | - |
| Financial charges65/66B | €105 | €615 | €4,331 | €203 | €139 | ▼ 31.7% |
| Recurring financial charges65 | €105 | €615 | €4,331 | €203 | €139 | ▼ 31.7% |
| Profit (loss) for the period before taxes9903 | €17,743 | -€27,247 | -€69,487 | -€4,267 | -€6,859 | ▼ 60.7% |
| Income taxes67/77 | €3,435 | €0 | - | - | - | - |
| Profit (loss) for the period9904 | €14,308 | -€27,247 | -€69,487 | -€4,267 | -€6,859 | ▼ 60.7% |
| Profit (loss) for the period to be appropriated9905 | €14,308 | -€27,247 | -€69,487 | -€4,267 | -€6,859 | ▼ 60.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €104,261 | €39,131 | €20,141 | €22,027 | €3,577 | ▼ 83.8% |
| Fixed assets21/28 | €7,146 | €9,193 | €0 | - | - | - |
| Tangible fixed assets22/27 | €6,896 | €8,943 | €0 | - | - | - |
| Furniture and vehicles24 | €6,896 | €8,943 | €0 | - | - | - |
| Financial fixed assets28 | €250 | €250 | €0 | - | - | - |
| Current assets29/58 | €97,115 | €29,938 | €20,141 | €22,027 | €3,577 | ▼ 83.8% |
| Amounts receivable within one year40/41 | €94,781 | €29,797 | €19,899 | €19,802 | €3,571 | ▼ 82.0% |
| Trade receivables40 | €86,617 | €12,940 | €8,168 | €10,072 | €0 | ▼ 100% |
| Other amounts receivable41 | €8,164 | €16,857 | €11,730 | €9,730 | €3,571 | ▼ 63.3% |
| Cash at bank and in hand54/58 | €1,240 | €6 | €242 | €2,084 | €6 | ▼ 99.7% |
| Deferred charges and accrued income490/1 | €1,094 | €135 | €0 | €142 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €104,261 | €39,131 | €20,141 | €22,027 | €3,577 | ▼ 83.8% |
| Equity10/15 | €19,308 | -€7,939 | -€77,425 | -€81,692 | -€88,552 | ▼ 8.4% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €14,308 | €0 | - | - | - | - |
| Distributable reserves133 | €14,308 | €0 | - | - | - | - |
| Profit (loss) carried forward14 | - | -€12,939 | -€82,425 | -€86,692 | -€93,552 | ▼ 7.9% |
| Amounts payable17/49 | €84,952 | €47,070 | €97,566 | €103,720 | €92,129 | ▼ 11.2% |
| Amounts payable after more than one year17 | - | €3,346 | €0 | - | - | - |
| Financial debts170/4 | - | €3,346 | €0 | - | - | - |
| Amounts payable within one year42/48 | €84,952 | €43,724 | €97,566 | €103,720 | €92,129 | ▼ 11.2% |
| Current portion of amounts payable after more than one year42 | - | €3,010 | €0 | - | - | - |
| Trade debts44 | €70,636 | €28,146 | €2,562 | €5,026 | €400 | ▼ 92.0% |
| Suppliers440/4 | €70,636 | €28,146 | €2,562 | €5,026 | €400 | ▼ 92.0% |
| Taxes, remuneration and social security45 | €7,317 | €12,568 | €1,761 | €2,419 | €453 | ▼ 81.3% |
| Taxes450/3 | €3,455 | €3,786 | €874 | €757 | €0 | ▼ 100% |
| Remuneration and social security454/9 | €3,862 | €8,781 | €887 | €1,662 | €453 | ▼ 72.8% |
| Other amounts payable47/48 | €7,000 | €0 | €93,244 | €96,275 | €91,277 | ▼ 5.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,308 | -€27,247 | -€69,487 | -€4,267 | -€6,859 | ▼ 60.7% |
| + Depreciation and write-downs630 | €1,587 | €3,909 | €0 | - | - | - |
| Operating cash flow (approximation) | €15,896 | -€23,338 | -€69,487 | -€4,267 | -€6,859 | ▼ 60.7% |
| Investment in fixed assets (approximation) | - | -€5,956 | €9,193 | - | - | - |
| Change in cash | - | -€1,234 | €236 | €1,842 | -€2,078 | - |
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, 6,008 companies had the same profile as Commorreal Construct has now. Two years later, 83.0% were still going and 7.9% had gone bankrupt.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
83.0%
was still going
8.4%
stopped otherwise
7.9%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Commorreal Construct itself: 4.0% 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 6,008 companies, not a prediction for Commorreal Construct. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 23-06-2026 | 2026-00217986 | |
| 31-12-2024 | micro format | 23-06-2025 | 2025-00166557 | |
| 31-12-2023 | micro format | 08-07-2024 | 2024-00226465 | |
| 31-12-2022 | micro format | 16-08-2023 | 2023-00333576 | |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20126407 |