Summary
COMULEX is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €2.8m and a net result of €46,508. Equity is growing by about 26% per year across the filed financial years. Its solvency ranks better than 95% of 2,974 sector peers (NACE 64, financial year 2025). The company has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, full format
Equity
€2.8m▲ 1.7%
2024 · €2.8m
Net result
€46,508▼ 29.7%
2024 · €66,131
Total assets
€2.8m▲ 1.7%
2024 · €2.8m
Solvency
100.0%=
2024 · 100.0%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €454 in 2025 against €37 in 2024; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€0.004m
2025
Operating result-€454
2025
Net result€0.05m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€2.8m
2025
Equity€2.8m
2025
Debt€151
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.02m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)1.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency100.0%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio79.55
2024
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.004m€0.004m=
Operating result€0.005m-€0.4m▲ 7,993%-€0.04m€5.2m€0.05m▼ 99.0%-€0.002m-€37▲ 97.8%-€454▼ 1,138%
Net result-€0.2m-€0.2m-€0.2mbelow the sector's middle half€4.7mabove the sector's middle half-€0.08mbelow the sector's middle half-€0.02mbelow the sector's middle half▲ 76.9%€0.07mwithin the sector's middle half€0.05mwithin the sector's middle half▼ 29.7%
Equity-€1.9m--€1.7m▲ 11.9%-€1.9mbelow the sector's middle half▼ 11.7%€2.8mabove the sector's middle half€2.7mabove the sector's middle half▼ 3.0%€2.7mabove the sector's middle half▼ 0.7%€2.8mabove the sector's middle half▲ 2.4%€2.8mwithin the sector's middle half▲ 1.7%
Total assets€2.6m-€3.0m▲ 15.8%€2.8mwithin the sector's middle half▼ 4.6%€8.0mabove the sector's middle half▲ 182%€3.0mwithin the sector's middle half▼ 62.2%€2.7mwithin the sector's middle half▼ 10.9%€2.8mwithin the sector's middle half▲ 2.5%€2.8mwithin the sector's middle half▲ 1.7%
Debt€4.5m-€4.7m▲ 3.9%€4.8m▲ 1.4%€5.2m▲ 9.5%€0.3m▼ 94.0%€151▼ 100.0%€0.001m▲ 365%€151▼ 78.5%
Working capital-€3.3m-€1.2m€1.0mabove the sector's middle half▼ 11.6%€6.0mabove the sector's middle half▲ 476%-€0.2mbelow the sector's middle half€0.02mwithin the sector's middle half€0.06mwithin the sector's middle half▲ 122%€0.02mwithin the sector's middle half▼ 57.3%
Solvency-75.6%--57.5%▲ 18.1pp-67.3%below the sector's middle half▼ 9.8pp35.0%within the sector's middle half▲ 102.3pp89.8%above the sector's middle half▲ 54.7pp100.0%above the sector's middle half▲ 10.2pp100.0%above the sector's middle half=100.0%above the sector's middle half=
Current ratio0.26-34.84▲ 34.5831.21above the sector's middle half▼ 3.6420.36above the sector's middle half▼ 10.850.29below the sector's middle half▼ 20.0679.55above the sector's middle half
Return on assets (ROA)-6.4%-7.8%▲ 14.2pp-7.1%below the sector's middle half▼ 14.8pp58.9%above the sector's middle half▲ 66.0pp-2.8%below the sector's middle half▼ 61.7pp-0.7%below the sector's middle half▲ 2.1pp2.4%within the sector's middle half▲ 3.1pp1.6%within the sector's middle half▼ 0.7pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.8m
Fixed assets
€2.8m ▲ 2.9%
Current assets
€23,731 ▼ 57.5%
Equity and liabilities €2.8m
Equity
€2.8m ▲ 1.7%
Debt
€151 ▼ 78.5%
Debt's share of the balance-sheet total stays at 0.0%.
Key figures and ratios
ROE
1.6%▼
2024 · 2.4%
Debt ≤ 1 year
€151▼
2024 · €703
Income taxes
-€9,051▲
2024 · -€30,619
A ratio outside any meaningful range has been withheld (balance sheet total €2.8m, equity €2.8m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | - | €0.004m | €0.004m | = |
| Non-recurring operating income76A | - | - | - | - | €0.05m | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | €0.003m | €0.003m | ▲ 12.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.8m | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 3.2% |
| Gross operating margin9900 | €0.006m | €0.4m | €0.004m | €4.4m | €0.06m | -€0.001m | €0.001m | €0.001m | ▼ 41.5% |
| Operating profit (loss)9901 | €0.005m | €0.4m | -€0.04m | €5.2m | €0.05m | -€0.002m | -€37 | -€454 | ▼ 1,138% |
| Financial income75/76B | - | - | - | - | - | €0.04m | €0.04m | €0.04m | ▲ 6.6% |
| Recurring financial income75 | €0.004m | €0.005m | €0.002m | - | - | €0.04m | €0.04m | €0.04m | ▲ 6.6% |
| Financial charges65/66B | - | - | - | €0.2m | €0.1m | €199 | €204 | €205 | ▲ 0.7% |
| Recurring financial charges65 | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €199 | €204 | €205 | ▲ 0.7% |
| Profit (loss) for the period before taxes9903 | -€0.1m | €0.2m | -€0.2m | €5.0m | -€0.08m | €0.03m | €0.04m | €0.04m | ▲ 5.5% |
| Income taxes67/77 | €0.02m | €0.01m | - | €0.3m | - | €0.05m | -€0.03m | -€0.009m | ▲ 70.4% |
| Profit (loss) for the period9904 | -€0.2m | €0.2m | -€0.2m | €4.7m | -€0.08m | -€0.02m | €0.07m | €0.05m | ▼ 29.7% |
| Profit (loss) for the period to be appropriated9905 | -€0.2m | €0.2m | -€0.2m | €4.7m | -€0.08m | -€0.02m | €0.07m | €0.05m | ▼ 29.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.6m | €3.0m | €2.8m | €8.0m | €3.0m | €2.7m | €2.8m | €2.8m | ▲ 1.7% |
| Fixed assets21/28 | €1.4m | €1.8m | €1.8m | €1.8m | €2.9m | €2.7m | €2.7m | €2.8m | ▲ 2.9% |
| Tangible fixed assets22/27 | €1.4m | €1.8m | €1.8m | €1.8m | €1.7m | €1.7m | €1.7m | €1.7m | = |
| Other tangible fixed assets26 | - | - | - | €1.8m | €1.7m | €1.7m | €1.7m | €1.7m | = |
| Financial fixed assets28 | €0.01m | €0.01m | €0.01m | - | €1.3m | €1.0m | €1.0m | €1.1m | ▲ 7.5% |
| Current assets29/58 | €1.2m | €1.2m | €1.1m | €6.3m | €0.09m | €0.02m | €0.06m | €0.02m | ▼ 57.5% |
| Stocks and contracts in progress3 | €1.1m | €1.1m | €1.1m | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | - | - | - | €0.006m | €0.001m | €168 | €168 | €0.02m | ▲ 10,113% |
| Trade receivables40 | - | - | - | €0.006m | €0.001m | €168 | €168 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | - | - | - | - | €0.02m | - |
| Cash at bank and in hand54/58 | €404 | €0.007m | €0.009m | €6.2m | €0.09m | €0.02m | €0.05m | €0.003m | ▼ 95.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.6m | €3.0m | €2.8m | €8.0m | €3.0m | €2.7m | €2.8m | €2.8m | ▲ 1.7% |
| Equity10/15 | -€1.9m | -€1.7m | -€1.9m | €2.8m | €2.7m | €2.7m | €2.8m | €2.8m | ▲ 1.7% |
| Contributions10/11 | €0.9m | €0.9m | €0.9m | €2.2m | €2.2m | €2.2m | €2.2m | €2.2m | = |
| Capital10 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Issued capital100 | - | - | - | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Uncalled capital101 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Contributions outside capital11 | - | - | - | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Share premium1100/10 | - | - | - | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Reserves13 | - | - | - | €0.03m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Legal reserve130 | - | - | - | €0.03m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Profit (loss) carried forward14 | -€4.1m | -€3.9m | -€4.1m | €0.6m | €0.5m | €0.5m | €0.6m | €0.6m | ▲ 8.4% |
| Amounts payable17/49 | €4.5m | €4.7m | €4.8m | €5.2m | €0.3m | €151 | €0.001m | €151 | ▼ 78.5% |
| Amounts payable after more than one year17 | - | €4.7m | €4.7m | €4.9m | - | - | - | - | - |
| Other amounts payable178/9 | - | - | - | €4.9m | - | - | - | - | - |
| Amounts payable within one year42/48 | €4.5m | €0.03m | €0.03m | €0.3m | €0.3m | €151 | €0.001m | €151 | ▼ 78.5% |
| Financial debts43 | - | - | - | €151 | €151 | €151 | €151 | €151 | = |
| Credit institutions430/8 | - | - | - | €151 | €151 | €151 | €151 | €151 | = |
| Trade debts44 | €0.001m | €0.003m | €0.002m | - | €0.003m | - | - | €0 | - |
| Suppliers440/4 | - | - | - | - | €0.003m | - | - | €0 | - |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.3m | - | €0.001m | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €0.3m | €0.3m | - | €0.001m | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.2m | €0.2m | -€0.2m | €4.7m | -€0.08m | -€0.02m | €0.07m | €0.05m | ▼ 29.7% |
| Operating cash flow (approximation) | -€0.2m | €0.2m | -€0.2m | €4.7m | -€0.08m | -€0.02m | €0.07m | €0.05m | ▼ 29.7% |
| Investment in fixed assets (approximation) | - | -€0.4m | €0.001m | €0.01m | -€1.2m | €0.3m | -€0.04m | -€0.08m | ▼ 118% |
| Change in cash | - | €0.006m | €0.002m | €6.2m | -€6.2m | -€0.07m | €0.03m | -€0.05m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 16-06-2026 | 2026-00177284 |
| 31-12-2024 | abbreviated format | 22-05-2025 | 2025-00104390 |
| 31-12-2023 | abbreviated format | 24-05-2024 | 2024-00102083 |
| 31-12-2022 | abbreviated format | 31-05-2023 | 2023-00102333 |
| 31-12-2021 | abbreviated format | 30-05-2022 | 2022-20041732 |
| 31-12-2020 | abbreviated format | 28-05-2021 | 2021-15900114 |
| 31-12-2019 | abbreviated format | 10-06-2020 | 2020-16000300 |
| 31-12-2018 | abbreviated format | 07-08-2019 | 2019-44600032 |
| 31-12-2017 | abbreviated format | 12-07-2018 | 2018-33500160 |
| 31-12-2016 | abbreviated format | 24-07-2017 | 2017-36000407 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.