Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2020 to 2025 closed with a loss. 2025 was the heaviest.
Between 2016 and 2025, 73% of the full-time equivalents disappeared.
ComTIS Installations pays its suppliers 53 days later than in 2024. Customers pay 38 days earlier.
Lower solvency than 95% of companies in specialised construction. Sector median 42.4% · 2,463 companies.
The dashed line is the sector median: 0.3% across 2,647 companies (NACE 43, small).
About 4 in 100 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 (NACE 43, small). It does better than 1% of them on solvency, 55% on liquidity, 2% on profitability and 4% 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 elevated class on 30-06-2025, 6.3% 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, 598 companies had the same profile as ComTIS Installations has now. Each dot stands for 2 companies, two years later.
Another 1.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ComTIS Installations itself: 4.1% 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 598 companies, not a prediction for ComTIS Installations. 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 insufficient, with a current ratio of 0.18 (0.39 in 2024), below 1. Short-term debt is 507.7% and cash 38.5% of total assets. Equity is negative.
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 18 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| ComTIS Installations Geel | €2.3m | - | -521.6% | 18.5 |
| HORIZON SUD Charleroi | €5.1m | 6.6% | 45.0% | 16.1 |
| Alfa Technical Services Lokeren | €1.9m | 4.4% | 43.5% | 11.8 |
| AIR EXECUTION Nivelles | €2.2m | 3.6% | 29.8% | 10 |
| ALFA COOLING TECHNICS Lokeren | €4.5m | -1.6% | 18.6% | 26.7 |
| CHAUFFAGE ELAERTS ET CIE Ittre | €5.0m | 3.6% | 47.9% | 23.1 |
| Graindorge Flémalle | €1.7m | -3.5% | 37.9% | 11.3 |
These companies have the same main activity as ComTIS Installations: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €720,000 and €2.2m, founded between 1992 and 2012.
ComTIS Installations has existed since 2009. Turnover fell from €6.3m in 2018 to €2.3m in 2025 and staff from 60.2 to 18.5 full-time equivalents.
Turnover has fallen every year since 2020. Solvency fell in 2025 from -145.2% to -521.6% because of the loss and higher debts to suppliers.
VANHOUT holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Lower than 95% of 2,463 companies in 2025.
Lower than 95% of 2,436 companies in 2025.
Lower than 95% of 2,454 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter · Staff: middle half
18.2 men and 0.3 women in full-time equivalents in 2025.
Men €85,261, women €80,821 per full-time equivalent. Jobs differ, so this is not a pay gap.
In 2025, 4 people joined and 15 left. Training hours in 2025: 198.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||
20/58 |
1.0m | 2.1m | 1.9m | 3.3m | 1.9m | 3.4m | 3.1m | 2.5m | 2.5m | 2.5m | 1.8m | 2.2m | 18,452 | 20,763 | 21,967 | |
21/28 |
114,927 | 116,329 | 137,556 | 164,304 | 211,374 | 227,835 | 123,670 | 140,909 | 201,426 | 306,117 | 373,128 | 443,101 | - | - | - | |
21 |
- | - | - | - | - | - | - | 42,857 | 85,913 | 151,846 | 195,492 | 237,322 | - | - | - | |
22/27 |
75,693 | 77,096 | 98,322 | 125,070 | 172,431 | 188,411 | 69,420 | 44,753 | 62,461 | 101,823 | 125,209 | 172,220 | - | - | - | |
23 |
8,582 | 3,506 | 8,328 | 13,470 | 19,078 | 13,231 | 2,979 | 4,951 | 5,449 | 13,106 | 11,705 | 16,429 | - | - | - | |
24 |
10,073 | 1,931 | 3,715 | 10,701 | 31,964 | 45,984 | 48,836 | 15,529 | 25,273 | 43,169 | 58,751 | 90,407 | - | - | - | |
26 |
57,038 | 71,659 | 86,279 | 100,900 | 121,389 | 129,196 | 17,606 | 24,273 | 31,739 | 45,547 | 54,753 | 55,969 | - | - | - | |
28 |
39,233 | 39,233 | 39,233 | 39,233 | 38,943 | 39,424 | 54,250 | 53,298 | 53,051 | 52,448 | 52,428 | 33,559 | - | - | - | |
284/8 |
39,233 | 39,233 | 39,233 | 39,233 | 38,943 | 39,424 | 54,250 | 53,298 | - | - | - | - | - | - | - | |
284 |
3,225 | 3,225 | 3,225 | 3,225 | 3,225 | 3,225 | 3,697 | 3,225 | - | - | - | - | - | - | - | |
285/8 |
36,008 | 36,008 | 36,008 | 36,008 | 35,718 | 36,199 | 50,553 | 50,073 | - | - | - | - | - | - | - | |
29/58 |
933,553 | 2.0m | 1.8m | 3.2m | 1.7m | 3.2m | 3.0m | 2.4m | 2.3m | 2.2m | 1.4m | 1.8m | 18,452 | 20,763 | 21,967 | |
3 |
33,231 | 220,302 | 758,913 | 1.1m | 542,840 | 675,819 | 650,676 | 608,148 | 772,589 | 391,224 | 132,921 | 157,482 | - | - | - | |
30/36 |
33,231 | 33,231 | 122,875 | 140,729 | 198,296 | 130,570 | 280,074 | 308,912 | 379,852 | 257,724 | 124,921 | 124,982 | - | - | - | |
30/31 |
33,231 | 33,231 | 122,875 | 140,729 | 198,296 | 130,570 | 280,074 | 308,912 | - | - | - | - | - | - | - | |
37 |
- | 187,070 | 636,038 | 995,281 | 344,544 | 545,249 | 370,602 | 299,236 | 392,737 | 133,500 | 8,000 | 32,500 | - | - | - | |
40/41 |
497,047 | 1.3m | 746,484 | 1.5m | 977,666 | 2.1m | 1.5m | 1.4m | 972,643 | 1.5m | 1.1m | 1.5m | 1,178 | 894 | 801 | |
40 |
486,301 | 1.3m | 683,412 | 1.3m | 836,334 | 2.0m | 1.4m | 1.4m | 875,060 | 1.4m | 1.0m | 1.4m | - | - | - | |
41 |
10,746 | 7,098 | 63,072 | 133,645 | 141,332 | 55,109 | 86,011 | 73,110 | 97,584 | 102,422 | 53,535 | 93,416 | 1,178 | 894 | 801 | |
50/53 |
- | - | - | - | - | - | - | - | - | - | - | - | 17,274 | - | - | |
54/58 |
403,275 | 522,346 | 284,359 | 576,260 | 189,939 | 464,730 | 888,021 | 295,483 | 517,003 | 237,963 | 174,818 | 104,955 | - | 19,869 | 21,166 | |
490/1 |
- | 5,755 | 10,138 | 3,151 | 6,375 | - | - | 53,857 | 48,706 | 43,548 | 42,272 | 9,707 | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||
10/49 |
1.0m | 2.1m | 1.9m | 3.3m | 1.9m | 3.4m | 3.1m | 2.5m | 2.5m | 2.5m | 1.8m | 2.2m | 18,452 | 20,763 | 21,967 | |
10/15 |
-5.5m | -3.1m | -2.8m | -1.3m | -409,349 | 166,759 | 907,656 | -125,683 | 123,600 | 581,255 | 534,130 | 375,234 | 17,629 | 19,053 | 21,225 | |
10/11 |
1.8m | 1.8m | 1.8m | 1.8m | 1.8m | 1.8m | 1.8m | 825,000 | 325,000 | 325,000 | 325,000 | 325,000 | 25,000 | 25,000 | 25,000 | |
10 |
1.8m | 1.8m | 1.8m | 1.8m | 1.8m | - | - | - | - | - | - | - | - | - | - | |
100 |
1.8m | 1.8m | 1.8m | 1.8m | 1.8m | 1.8m | 1.8m | 825,000 | 325,000 | 325,000 | 325,000 | 325,000 | 25,000 | 25,000 | 25,000 | |
13 |
32,500 | 32,500 | 32,500 | 32,500 | 32,500 | 32,500 | 32,500 | 32,500 | 32,500 | 256,255 | 209,130 | 50,234 | - | - | - | |
130/1 |
32,500 | 32,500 | 32,500 | 32,500 | 32,500 | 32,500 | - | - | - | - | - | - | - | - | - | |
130 |
32,500 | 32,500 | 32,500 | 32,500 | 32,500 | 32,500 | 32,500 | 32,500 | 32,500 | 32,500 | 32,500 | - | - | - | - | |
133 |
- | - | - | - | - | - | - | - | - | 223,755 | 176,630 | 50,234 | - | - | - | |
14 |
-7.3m | -5.0m | -4.7m | -3.2m | -2.3m | -1.7m | -949,844 | -983,183 | -233,900 | - | - | - | -7,371 | -5,947 | -3,775 | |
16 |
1.2m | - | - | - | - | 100,248 | - | - | - | - | - | - | - | - | - | |
160/5 |
1.2m | - | - | - | - | 100,248 | - | - | - | - | - | - | - | - | - | |
164/5 |
1.2m | - | - | - | - | 100,248 | - | - | - | - | - | - | - | - | - | |
17/49 |
5.3m | 5.2m | 4.7m | 4.7m | 2.3m | 3.2m | 2.2m | 2.7m | 2.4m | 1.9m | 1.3m | 1.9m | 823 | 1,710 | 742 | |
17 |
- | - | - | - | - | - | - | 39,325 | 85,155 | 151,217 | 194,080 | 241,496 | - | - | - | |
170/4 |
- | - | - | - | - | - | - | 39,325 | 85,155 | 151,217 | 194,080 | 241,496 | - | - | - | |
173 |
- | - | - | - | - | - | - | 39,325 | - | - | - | - | - | - | - | |
42/48 |
5.3m | 5.2m | 4.7m | 4.7m | 2.3m | 3.2m | 2.2m | 2.6m | 2.3m | 1.8m | 1.1m | 1.6m | 823 | 1,710 | 742 | |
42 |
- | - | - | - | - | - | 39,325 | 45,830 | 44,392 | 42,863 | 47,416 | 52,206 | - | - | - | |
43 |
- | - | 300,000 | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.3m | 683,636 | 101,285 | 450,000 | - | - | - | |
430/8 |
- | - | 300,000 | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.3m | 683,636 | 101,285 | 450,000 | - | - | - | |
44 |
749,083 | 652,460 | 563,076 | 1.9m | 504,876 | 1.3m | 865,536 | 593,876 | 691,642 | 743,782 | 543,982 | 652,037 | 823 | 1,710 | 742 | |
440/4 |
749,083 | 652,460 | 563,076 | 1.9m | 504,876 | 1.3m | 865,536 | 593,876 | 691,642 | 743,782 | 543,982 | 652,037 | 823 | 1,710 | 742 | |
46 |
27,000 | 16,856 | 34,863 | 50,369 | 22,764 | 61,030 | 97,687 | 130,782 | 90,782 | 16,881 | 124,157 | 17,845 | - | - | - | |
45 |
168,360 | 189,920 | 170,156 | 144,325 | 148,612 | 166,644 | 236,656 | 179,218 | 204,439 | 252,153 | 265,888 | 229,445 | - | - | - | |
450/3 |
- | - | - | - | 5,735 | 5,074 | 45,408 | 39,455 | 41,281 | 52,241 | 72,511 | 55,251 | - | - | - | |
454/9 |
168,360 | 189,920 | 170,156 | 144,325 | 142,877 | 161,570 | 191,248 | 139,762 | 163,157 | 199,913 | 193,377 | 174,195 | - | - | - | |
47/48 |
4.4m | 4.4m | 3.7m | 1.6m | 661,291 | 600,000 | - | 660,000 | 8,899 | 19,175 | 10,208 | 204,890 | - | - | - | |
492/3 |
- | - | - | - | - | 277 | 1,943 | 2,443 | 6,226 | - | - | 10,183 | - | - | - | |
| Income statement | ||||||||||||||||
70/76A |
2.3m | 4.0m | 4.9m | 6.2m | 7.8m | 8.4m | 8.2m | 6.3m | - | - | - | - | - | - | - | |
70 |
2.3m | 3.9m | 5.0m | 5.5m | 7.7m | 8.2m | 8.0m | 6.3m | - | - | - | - | - | - | - | |
71 |
-187,070 | -448,967 | -359,243 | 650,737 | -200,705 | 174,647 | 71,366 | -93,501 | - | - | - | - | - | - | - | |
72 |
- | - | - | - | - | 72,544 | - | - | - | - | - | - | - | - | - | |
74 |
59,915 | 42,048 | 36,102 | 38,980 | 54,596 | - | - | - | - | - | - | - | - | - | - | |
76A |
197,370 | 445,786 | 214,514 | - | 200,248 | - | 7,986 | 8,899 | 1,125 | 67 | - | 2,948 | - | - | - | |
9900 |
- | - | - | - | - | - | - | - | 4.9m | 3.7m | 3.8m | 3.3m | -1,302 | -1,790 | -3,429 | |
60/66A |
4.7m | 4.2m | 6.3m | 7.1m | 8.3m | 9.1m | 8.1m | 7.0m | - | - | - | - | - | - | - | |
60 |
1.3m | 2.0m | 3.6m | 4.0m | 3.9m | 4.9m | 4.1m | 2.5m | - | - | - | - | - | - | - | |
600/8 |
1.3m | 1.9m | 3.6m | 3.9m | 3.9m | 4.7m | 4.0m | 2.4m | - | - | - | - | - | - | - | |
609 |
- | 89,644 | 17,854 | 57,567 | -67,726 | 149,504 | 28,838 | 70,940 | - | - | - | - | - | - | - | |
61 |
584,697 | 487,221 | 492,249 | 839,557 | 1.5m | 1.1m | 908,799 | 1.3m | - | - | - | - | - | - | - | |
62 |
1.6m | 1.7m | 2.1m | 2.2m | 2.9m | 2.8m | 3.1m | 3.1m | 5.2m | 3.4m | 3.3m | 2.9m | - | - | - | |
630 |
20,913 | 21,226 | 26,748 | 47,361 | 58,643 | 40,876 | 71,866 | 72,053 | 132,993 | 106,326 | 114,900 | 173,224 | - | - | - | |
631/4 |
- | - | - | - | - | 38,000 | - | 30,806 | 664 | - | 3,300 | 544 | - | - | - | |
635/8 |
1.2m | - | - | - | - | 100,248 | - | - | - | - | - | - | - | - | - | |
640/8 |
19,400 | 3,191 | 4,870 | 4,877 | 8,808 | 105,442 | 10,047 | 12,303 | 26,936 | 19,956 | 18,420 | 28,425 | - | 254 | 357 | |
66A |
- | - | - | - | - | - | - | 7,267 | - | 622 | 902 | 4,338 | - | - | - | |
9901 |
-2.4m | -259,288 | -1.3m | -875,866 | -515,358 | -665,141 | 83,438 | -708,549 | -407,002 | 147,440 | 323,682 | 185,996 | -1,302 | -2,044 | -3,786 | |
75/76B |
- | - | - | - | - | - | 18,452 | 12,580 | 34,758 | 2,691 | 1,225 | 2,100 | 17 | 19 | 15 | |
75 |
- | - | - | - | - | - | 18,452 | 10,765 | 34,758 | 2,691 | 1,225 | 2,100 | 17 | 19 | 15 | |
751 |
- | - | - | - | - | - | - | 124 | - | - | - | - | - | - | - | |
752/9 |
- | - | - | - | - | - | 18,452 | 10,641 | - | - | - | - | - | - | - | |
76B |
- | - | - | - | - | - | - | 1,815 | - | - | - | - | - | - | - | |
65/66B |
11,180 | 30,349 | 164,999 | 35,354 | 49,136 | 71,125 | 68,551 | 51,630 | 83,453 | 55,793 | 63,603 | 78,072 | 139 | 146 | 4 | |
65 |
11,180 | 30,349 | 164,999 | 35,354 | 49,136 | 71,125 | 68,551 | 44,363 | 83,453 | 55,793 | 63,603 | 78,072 | 139 | 146 | 4 | |
650 |
11,180 | 8,693 | 126,768 | 35,354 | 23,837 | 13,454 | 11,697 | 39,647 | - | - | - | - | - | - | - | |
652/9 |
- | 21,656 | 38,231 | - | 25,299 | 57,671 | 56,854 | 4,716 | - | - | - | - | - | - | - | |
66B |
- | - | - | - | - | - | - | 7,267 | - | - | - | - | - | - | - | |
9903 |
-2.4m | -289,637 | -1.5m | -911,220 | -564,495 | -736,266 | 33,339 | -747,599 | -455,697 | 93,783 | 260,402 | 108,634 | -1,424 | -2,172 | -3,775 | |
67/77 |
1,504 | 2,500 | -2,290 | -2,634 | 11,613 | 4,631 | - | 1,684 | 1,957 | 46,659 | 101,506 | 51,029 | - | - | - | |
670/3 |
2,500 | 2,500 | 3,827 | - | 11,613 | 4,631 | - | 1,937 | - | - | - | - | - | - | - | |
77 |
996 | - | 6,116 | 2,634 | - | - | - | 252 | - | - | - | - | - | - | - | |
9904 |
-2.4m | -292,137 | -1.5m | -908,586 | -576,107 | -740,897 | 33,339 | -749,283 | -457,655 | 47,125 | 158,896 | 57,605 | -1,424 | -2,172 | -3,775 | |
9905 |
-2.4m | -292,137 | -1.5m | -908,586 | -576,107 | -740,897 | 33,339 | -749,283 | -457,655 | 47,125 | 158,896 | 57,605 | -1,424 | -2,172 | -3,775 | |
| Appropriation of the result | ||||||||||||||||
9906 |
-7.3m | -5.0m | -4.7m | -3.2m | -2.3m | -1.7m | -949,844 | -983,183 | -457,655 | 47,125 | 158,896 | 50,234 | -7,371 | -5,947 | -3,775 | |
14P |
-5.0m | -4.7m | -3.2m | -2.3m | -1.7m | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | - | - | - | - | - | 223,755 | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | 47,125 | 158,896 | 50,234 | - | - | - | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | 32,500 | - | - | - | |
6921 |
- | - | - | - | - | - | - | - | - | 47,125 | 158,896 | 17,734 | - | - | - | |
| Social balance sheet | ||||||||||||||||
9087 |
18.5 | 25.9 | 32.7 | 36.5 | 49.8 | 56.2 | 54.7 | 60.2 | 67.9 | 68.8 | 65.7 | 42.4 | - | - | - | |
Men (FTE)1003 |
18.2 | 24.8 | 31 | 33.6 | 43.6 | 49.6 | 47.5 | 52.8 | - | - | - | - | - | - | - | |
Women (FTE)1003 |
0.3 | 1.1 | 1.7 | 2.9 | 6.2 | 6.6 | 7.2 | 7.4 | - | - | - | - | - | - | - | |
Agency workers1501 |
- | - | - | 0.6 | 4.3 | 2.5 | 0.2 | 0.7 | - | - | - | - | - | - | - | |
Hours worked1013 |
24,010 | 34,080 | 45,098 | 54,175 | 73,471 | 77,321 | 85,109 | 90,776 | 156,888 | 107,902 | 108,121 | 100,599 | - | - | - | |
| Document | ||||||||||||||||
The notes to these accounts have 41 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 01-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 01-07-2026 | 2026-00231950 | |
| 31-12-2024 | full format | 11-07-2025 | 2025-00257839 | |
| 31-12-2023 | full format | 09-09-2024 | 2024-00456400 | |
| 31-12-2022 | full format | 06-07-2023 | 2023-00207454 | |
| 31-12-2021 | full format | 31-08-2022 | 2022-20386762 | |
| 31-12-2020 | full format | 05-11-2021 | 2021-76400155 | |
| 31-12-2019 | full format | 31-08-2020 | 2020-46800064 | |
| 31-12-2018 | full format | 11-07-2019 | 2019-31100157 | |
| 31-12-2017 | abbreviated format | 27-06-2018 | 2018-24300087 | |
| 30-06-2016 | abbreviated format | 08-12-2016 | 2016-69600206 | |
| 30-06-2015 | abbreviated format | 23-12-2015 | 2015-70900011 | |
| 30-06-2014 | abbreviated format | 16-01-2015 | 2015-01800100 | |
| 31-12-2012 | abbreviated format | 28-06-2013 | 2013-22600027 | |
| 31-12-2011 | abbreviated format | 22-06-2012 | 2012-20800278 | |
| 31-12-2010 | abbreviated format | 29-08-2011 | 2011-52400410 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -2.3m | -238,062 | -1.3m | -828,505 | -456,716 | -624,266 | 155,303 | -636,496 | -274,009 | 253,766 | 438,582 | 359,221 | - | - | - | ||
| -2.3m | -270,910 | -1.5m | -861,225 | -517,465 | -700,022 | 105,204 | -677,230 | -324,662 | 153,451 | 273,796 | 230,830 | - | - | - | ||
| 19,510 | 0 | 0 | 291 | 42,663 | 159,866 | 54,147 | 11,288 | 28,302 | 41,277 | 46,078 | 616,325 | - | - | - | ||
| -119,071 | 237,986 | -291,900 | 386,321 | -274,791 | -423,291 | 592,538 | -221,520 | 279,040 | 63,145 | 69,863 | - | - | -1,297 | - | ||
| -4.4m | -3.2m | -2.9m | -1.5m | -620,723 | 39,448 | 785,928 | -224,824 | 13,555 | 426,354 | 355,082 | 183,813 | 17,629 | 19,053 | 21,225 | ||
| - | -6.6% | -26.4% | -15.8% | -6.7% | -8.2% | 1.0% | -11.2% | - | - | - | - | - | - | - | ||
| -521.6% | -145.2% | -145.0% | -39.4% | -21.2% | 4.9% | 28.8% | -5.0% | 4.9% | 23.3% | 29.3% | 16.8% | 95.5% | 91.8% | 96.6% | ||
| 0.18 | 0.39 | 0.38 | 0.68 | 0.73 | 1.01 | 1.35 | 0.91 | 1.01 | 1.24 | 1.32 | 1.11 | 22.41 | 12.14 | 29.59 | ||
| 0.17 | 0.34 | 0.22 | 0.44 | 0.50 | 0.80 | 1.06 | 0.68 | 0.67 | 1.02 | 1.20 | 1.02 | 22.41 | 12.14 | 29.59 | ||
| - | - | - | - | - | 19.02 | 2.47 | - | 19.33 | 3.29 | 2.41 | 4.95 | 0.05 | 0.09 | 0.03 | ||
| - | - | - | - | - | -444.3% | 3.7% | - | -370.3% | 8.1% | 29.7% | 15.4% | -8.1% | -11.4% | -17.8% | ||
| -225.8% | -13.7% | -77.0% | -27.2% | -29.9% | -21.5% | 1.1% | -29.7% | -18.2% | 1.9% | 8.7% | 2.6% | -7.7% | -10.5% | -17.2% | ||
| -208.73 | -27.38 | -10.27 | -23.43 | -19.16 | -46.40 | 13.28 | -16.05 | - | - | - | - | - | - | - | ||
| 79 days | 117 days | 49 days | 88 days | 39 days | 90 days | 64 days | 78 days | - | - | - | - | - | - | - | ||
| 147 days | 94 days | 50 days | 142 days | 35 days | 82 days | 63 days | 58 days | - | - | - | - | - | - | - |
EBIT margin. Not meaningful: turnover is only a small part of operating income.
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 12 | 23 | 31 | 36 | 41 |
| full-time | 10 | 18 | 27 | 33 | 38 |
| part-time | 2 | 5 | 4 | 3 | 3 |
| in full-time equivalents | 11.2 | 22.2 | 30.3 | 35.5 | 40.5 |
| 18.5 | 25.9 | 32.7 | 36.5 | 49.8 | |
| On a permanent contract | 12 | 23 | 31 | 36 | 41 |
| Joined | 4 | 0 | 0 | 3 | 4 |
| Left | 15 | 8 | 5 | 8 | 20 |
| Agency workers, average number | - | - | - | 0.6 | 4.3 |
| Training hours | 198 | - | 24 | - | 1,027 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | €4.4m | €4.0m | €2.6m | €1.7m |
| Carrying value of the other pledged assets | €330,000 | €330,000 | €935,000 | €935,000 | €935,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €19,510 | - | - | - | €42,663 |
| €20,913 | €21,226 | €26,748 | €47,361 | €58,643 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Fee for the audit | €4,150 | €4,000 | €5,850 | €5,850 | €5,850 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
The operating result for 2025 is a loss of €2.4m, larger than the loss of €259,288 in 2024. It is the lowest result since 2010.
Equity is negative. Debt (€5.3m) exceeds the balance-sheet total (€1.0m).
Further up the chainBESIX Group 100%
Source: parent in its own accounts, lists of holdings in the owners' accounts
Source: list of holdings in the 2025 accounts of VANHOUT. Every holding stands with its own latest accounts.
Part of the group BESIX Group Group, risk and exposure| VANHOUT
registered office since 18-05-1990 · founded in 1989 · group BESIX Group |
145 FTE (2025) 0439.714.361 |
| Vanhout Projects
registered office since 02-02-2000 · founded in 1983 · group BESIX Group |
11 FTE (2025) 0425.561.665 |
| ComTIS Services
registered office since 01-03-2007 · founded in 2007 · group BESIX Group |
60 FTE (2025) 0887.616.415 |
| Werft
registered office since 05-12-2011 · founded in 2011 · group BESIX Group |
total assets €13.7m (2025) 0840.561.517 |
| Bergesteyn
registered office since 07-12-2018 · founded in 2018 |
turnover €3.5m (2025) 0713.785.485 |
| Masterplan Edegem
registered office since 31-08-2010 · founded in 2010 · group BESIX Group |
total assets €8.9m (2025) 0828.590.034 |
| HBS
registered office since 28-09-1999 · founded in 1991 · group BESIX Group |
22 FTE (2025) 0443.480.337 |
| SPORT EN RECREATIE WESTERLO
registered office since 24-06-2013 · founded in 2013 |
turnover €502,538 (2025) 0533.800.502 |
| J&W WOONPROJECTEN
registered office since 13-07-2022 · founded in 2022 · negative equity (2025) · group BESIX Group |
total assets €5.6m (2025) 0788.563.874 |
| Rosmolen
registered office since 06-04-2021 · founded in 2021 |
total assets €4.8m (2025) 0766.395.416 |
The network starts from the directors of ComTIS Installations. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
ComTIS Installations was incorporated on 10 June 2009.1 The name was changed to ComTIS Installations in 2019.2 In 2019 the capital was increased by €1.0m to €1.8m.2 The registered office moved to Aartselaar in 2021 and to Geel in 2026.34 Turnover fell from €6.3m in 2018 to €2.3m in 2025 and headcount from 60.2 to 18.5 full-time equivalents.5
| Establishment | Since | Unit number |
|---|---|---|
| Lammerdries 12 registered office 2440 Geel | 08-06-2009 | 2.179.048.184 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 13373A0494/00E000 | 3.4 ha | 1 · 5,238 m² | 10.6 m · 3 |
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 0812.180.010
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