Commorreal Construct
ActiveSummary
The computed 12-month bankruptcy probability of Commorreal Construct is 4.0% (elevated). The 2025 annual accounts show negative equity (-€88,552) and a net result of -€6,859. Equity has been shrinking by about 35% per year since 2021. Its solvency ranks better than 5% of 9,399 sector peers (NACE 41, financial year 2025). The company has been active since 2020 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 09-09-2020 Normal situation
- Activity
- General construction of residential buildings NACE 41001
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2023
- Establishment unit
- 2.307.335.733 8530 Harelbeke, since 09-09-2020
- Financial year end
- 31 December
- Peppol
- Reachable since 10-01-2026
Board and ownership
- MAD FOXDirector · since 06-07-2023 · permanent representative Steven MESTDAGH
Financial position
- Bankruptcy probabilitywithin 12 months
- 4.0%
- Gross margin
- -€5,321
- ▼ 37.0%
- Loss
- €6,859
- ▲ 60.7%
- Equity
- -€88,552
- ▼ 8.4%
- Total assets
- €3,577
- ▼ 83.8%
- Negative equity on 31-12-2025
Score breakdownraises riskSector: Construction of residential and non-residential buildings (NACE 41)Founded in 2020Liquidity: current ratio 0.04, cash €6, halvedlowers riskSize: total assets €3,577Show the evidence
Checked score
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 41, micro). It does better than 3% of them on solvency, 2% on liquidity, 5% on profitability and 26% on growth.
The bankruptcy probability was computed on 04-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 5 accounts on average 23 days before the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 5 filings
Every figure per financial year
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.
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)
| 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
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 |
Board & ownership
Directors
Board 1
Permanent representatives 1
Owners and capital
Owners
Mandate history
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| MAD FOX |
|
| Capo Invest |
|
| Cosca |
|
Network & group
Companies at the same address
8 other companies- Flying Fox Registered office · since 2025 1026792411
- TALON Registered office · since 2025 1025829240
- Sewolar Registered office · since 2019 0735979382
- Commorreal Estate Registered office · since 2018 0691734516
- NU FLOW BELGIUM Establishment · since 2013 0541499233
- ALTORE Establishment · since 2005 0875171117
- FLOORPUL INTERNATIONAL Registered office · since 1988 0433167455
- POXYTEC Establishment · since 1971 0408401078
Connections & network
10 connected companiesShow 6 more companies with a shared director
Timeline
Acts, filings and financial milestones
11-07
Gazette deed
Registered office moved from Kortrijk to HarelbekeNew seat: Generaal Deprezstraat 10 B, 8530 Harelbeke · Previous seat: Joanna V.Konstantinopelstr 8, 8510 Kortrijk · Resignations: CAPO INVEST (director) and COSCA (director)10 points ▸
- General meeting, 06-07-2023
- Director resignation, CAPO INVEST
- Director resignation, COSCA
- Director discharge, CAPO INVEST
- Director discharge, COSCA
- Permanent representative, Joris Nachtergaele
- Permanent representative, Geoffrey Minne
- Director appointment, MAD FOX (director)
- Permanent representative, Steven MESTDAGH
- Registered-office move, Generaal Deprezstraat 10 B, 8530 Harelbeke
15-07
Gazette deed
Registered office moved from Wevelgem to MarkeNew seat: Joanna Van Konstantinopelstraat 8 8510 Marke · Previous seat: Kijkuitstraat 93 8560 Wevelgem · Permanent representative: Nachtergaele Joris4 points ▸
- Board meeting, 11-04-2022
- Registered-office move, Joanna Van Konstantinopelstraat 8 8510 Marke
- Director in office, CAPO INVEST BV (director)
- Permanent representative, Nachtergaele Joris
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
2 former offices
- Joanna V.Konstantinopelstr 8, 8510 Kortrijk until 06-07-2023 · act of 11-07-2023
- Kijkuitstraat 93, 8560 Wevelgem until 11-04-2022 · act of 15-07-2022
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0753.852.623
Financial year and general meeting
Accounts at the NBBEnvironmental permits
Source: Omgevingsloket Vlaanderen.
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 34322B0453/00F002 | Flanders | 8,464 m² | 1 · 6,301 m² | 6.7 m · 2 |