DE COMMERCE
ActiveSummary
DE COMMERCE has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €156,600 and a net result of -€1,422. Its solvency ranks better than 35% of 8,583 sector peers (NACE 73, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 30-11-2023 Normal situation
- Activity
- Public relations and communication consultancy NACE 73300and 5 others
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 30-09-2025
- Establishment units
- 2.352.545.453 3830 Wellen, since 30-11-2023
- 2.388.060.717 3830 Wellen, since 01-01-2026
- Financial year end
- 30 September
- Peppol
- Reachable since 06-01-2024
Board and ownership
Board
- CROUGHS Claudia NicoleDirector · since 27-11-2023
- DERWEDUWEN Joachim Roger MariaDirector · since 27-11-2023
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
Annual accounts to 30-09-2025
- Gross margin
- €210,167
- Turnover
- ≈ €390,000
- estimated
- Loss
- €1,422
- Equity
- €156,600
- Total assets
- €458,766
- Employees on 30-09-2025
- 4
Score breakdownraises riskFounded in 2023Liquidity: current ratio 0.66, cash €3,066lowers riskSize: total assets €458,766Sector: Advertising, market research and public relations activities (NACE 73)Show the evidence
Checked score
Score 2025
79
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 31% of micro companies in advertising and market research (NACE 73)
Financial strength
Average
Solvency
59
equity 34.1% of total assets
Liquidity
47
short-term debt 15.5% · cash 0.7%
Profitability
41
return on assets -0.3%
Bankruptcy probability within 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.9%
01-2025: 0.9%● unchanged vs 12-2024
02-2025: 0.9%● unchanged vs 01-2025
03-2025: 1.0%▲ +0.1 percentage points vs 02-2025
04-2025: 1.1%▲ +0.1 percentage points vs 03-2025
05-2025: 1.2%▲ +0.1 percentage points vs 04-2025
06-2025: 1.2%● unchanged vs 05-2025
07-2025: 1.3%▲ +0.1 percentage points vs 06-2025
08-2025: 1.3%● unchanged vs 07-2025
09-2025: 1.3%● unchanged vs 08-2025
10-2025: 1.3%● unchanged vs 09-2025
11-2025: 1.5%▲ +0.2 percentage points vs 10-2025
12-2025: 1.5%● unchanged vs 11-2025
01-2026: 1.7%▲ +0.2 percentage points vs 12-2025highest value
02-2026: 1.7%● unchanged vs 01-2026
03-2026: 1.7%● unchanged vs 02-2026
04-2026: 1.7%● unchanged vs 03-2026
05-2026: 1.7%● unchanged vs 04-2026
06-2026: 0.5%▼ -1.2 percentage points vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 0.5%● unchanged vs 07-2026
09-2026: 0.5%● unchanged vs 08-2026lowest value
10-2026: 0.5%● unchanged vs 09-2026
11-2026: 0.5%● unchanged vs 10-2026
Credit of up to €12,000 on 30-day terms, only on tighter conditions: young company (under 3 years) without a track record
Liquidity is insufficient, with a current ratio of 0.66, below 1. Short-term debt is 15.5% and cash 0.7% of total assets. 65.9% of the assets are financed with debt and provisions.
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 73, micro). It does better than 37% of them on solvency, 31% on liquidity and 26% on profitability.
The bankruptcy probability was computed on 01-11-2026 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
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 29-04-2026, 1 day ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
1 day early
← before the deadline
after the deadline →
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 29-04-2026 PDF
Turnover
≈ €390,000
Estimated: probably between €290,000 and €770,000
Total assets
€458,766
Net result
-€1,422
Working capital
-€24,326
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
Assets €450,112
Fixed assets
€403,298
Current assets
€46,815
Equity and liabilities €458,766
Equity
€156,600
Debt
€302,166
Debt's share of the balance-sheet total is 65.9%.
Key figures and ratios
EBITDA
€45,137
Cash flow
€26,762
Current ratio
0.66
Debt to equity
1.93
ROE
-0.9%
ROA
-0.3%
Interest coverage
2.67
Debt ≤ 1 year
€71,141
Debt > 1 year
€229,562
Income taxes
€1,486
Staff costs
€161,994
Staff
| Item | 30-09-2025 |
|---|---|
| Employees at the balance-sheet date | 4 |
| part-time | 4 |
| in full-time equivalents | 3.2 |
| Average over the year, in full-time equivalents | 2.1 |
| On a permanent contract | 4 |
| Joined | 3 |
| Left | 2 |
| Training hours | 152 |
Source: social balance sheet in the 2025 annual accounts
Securities and guarantees
| Item | 30-09-2025 |
|---|---|
| Mortgages, amount registered | €100,000 |
| Carrying value of the mortgaged assets | €196,705 |
| Carrying value of the other pledged assets | €25,000 |
Source: notes to the 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2025 |
|---|---|
| Tangible fixed assets | €301,984 |
| Intangible fixed assets | €126,300 |
| Depreciation and write-downs of the year | €28,184 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2025 |
|---|---|
| Remuneration, social security and pensions62 | €161,994 |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,184 |
| Other operating charges640/8 | €3,036 |
| Gross operating margin9900 | €210,167 |
| Operating profit (loss)9901 | €16,953 |
| Financial income75/76B | €22 |
| Recurring financial income75 | €22 |
| Financial charges65/66B | €16,910 |
| Recurring financial charges65 | €16,910 |
| Profit (loss) for the period before taxes9903 | €64 |
| Income taxes67/77 | €1,486 |
| Profit (loss) for the period9904 | -€1,422 |
| Profit (loss) for the period to be appropriated9905 | -€1,422 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €458,766 | |
| Formation expenses20 | €8,654 | |
| Fixed assets21/28 | €403,298 | |
| Intangible fixed assets21 | €114,826 | |
| Tangible fixed assets22/27 | €288,472 | |
| Land and buildings22 | €196,705 | |
| Plant, machinery and equipment23 | €77,307 | |
| Furniture and vehicles24 | €14,461 | |
| Current assets29/58 | €46,815 | |
| Amounts receivable within one year40/41 | €37,972 | |
| Trade receivables40 | €37,782 | |
| Other amounts receivable41 | €190 | |
| Cash at bank and in hand54/58 | €3,066 | |
| Deferred charges and accrued income490/1 | €5,776 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €458,766 | |
| Equity10/15 | €156,600 | |
| Contributions10/11 | €158,022 | |
| Profit (loss) carried forward14 | -€1,422 | |
| Amounts payable17/49 | €302,166 | |
| Amounts payable after more than one year17 | €229,562 | |
| Financial debts170/4 | €229,562 | |
| Amounts payable within one year42/48 | €71,141 | |
| Current portion of amounts payable after more than one year42 | €18,753 | |
| Financial debts43 | €1,536 | |
| Other loans439 | €1,536 | |
| Trade debts44 | €14,437 | |
| Suppliers440/4 | €14,437 | |
| Taxes, remuneration and social security45 | €34,634 | |
| Taxes450/3 | €9,398 | |
| Remuneration and social security454/9 | €25,236 | |
| Other amounts payable47/48 | €1,781 | |
| Accrued charges and deferred income492/3 | €1,464 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€1,422 |
| + Depreciation and write-downs630 | €28,184 |
| Operating cash flow (approximation) | €26,762 |
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, 2,145 companies had the same profile as DE COMMERCE has now. Two years later, 2.2% had gone bankrupt and 91.7% were still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a small loss
2.2%
went bankrupt
5.9%
stopped otherwise
91.7%
was still going
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DE COMMERCE itself: 0.5% 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 2,145 companies, not a prediction for DE COMMERCE. 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 (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 29-04-2026 | 2026-00098651 |
Board & ownership
Directors
Directors
2 directors, no change since 2023
CROUGHS Claudia Nicole
Current
Director (not named in the articles) · since 27-11-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 29-04-2026
DERWEDUWEN Joachim Roger Maria
Current
Director (not named in the articles) · since 27-11-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 29-04-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 04-12-2023Owners and capital
Shareholders
Contribution
act of 22-10-2024 ↗
- DERWEDUWEN Joachim Roger Maria €138,021.94
At incorporation
act of 04-12-2023 ↗
- DERWEDUWEN Joachim Roger Maria founder
- CROUGHS Claudia Nicole founder
Capital transactions
Capital over time
- 14-04-2026 Converted to available equity · €50,021.94
- 04-12-2023 Incorporation · €20,000
Mandate history
2 people, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| CROUGHS Claudia Nicole |
|
| DERWEDUWEN Joachim Roger Maria |
|
Articles of association
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 04-12-2023 (in Dutch)
Network & group
DE COMMERCE shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of DE COMMERCE. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
2026
29-04
micro format · 1 day before the deadline
14-04
Gazette deed
MiscellaneousCapital conversion · Capital · Power of attorney5 points ▸
Gazette deed
Miscellaneous
Capital conversion · Capital · Power of attorney5 points ▸
- General meeting, “buitengewone algemene vergadering van de aandeelhouders” (deed in Dutch)
- Capital conversion, “beschikbare inbreng buiten kapitaal” (deed in Dutch)
- Capital, €108,000
- Power of attorney
- Other provision, “coördinatie van de statuten op te maken en te ondertekenen, in overeenstemming met het vorige besluit, en de neerlegging daarvan in het vennootschapsdossier te…” (deed in Dutch)
2024
22-10
Gazette deed
Transfer: Derweduwen, Joachim transfers a branch of activity to DE COMMERCEAuditor report · Approval · Capital contribution17 points ▸
Gazette deed
Transfer: Derweduwen, Joachim transfers a branch of activity to DE COMMERCE
Auditor report · Approval · Capital contribution17 points ▸
- General meeting, 10-09-2024
- Auditor report, EUR, “Norm inzake opdracht bedrijfsrevisor inbreng in natura en quasi-inbreng” (deed in Dutch)
- Other provision, “kennisname verslag bedrijfsrevisor, geen opmerkingen” (deed in Dutch)
- Other provision, “belang voorgestelde inbreng bedrijfstak,beschrijving,gemotiveerde waardering,vergoeding, kennisname bijzonder verslag bestuursorgaan” (deed in Dutch)
- Approval, “uittreksel van deze akte, griffie bevoegde ondernemingsrechtbank” (deed in Dutch)
- Transfer of a branch of activity or universality, “branch of activity”, 138021.94 (deed in Dutch), mentioned 2 times in the deed
- Other provision, “alleactivaenpassivaenoverigebestanddelen, eigendom” (deed in Dutch)
- Other provision, “bevestiging” (deed in Dutch)
- Capital contribution, €138,021.94
- Accounting effect, 27-11-2023
- Other provision, “bijzonderevoordelenbestuursledendeelnemendeentiteiten” (deed in Dutch)
- Share issue, 13802, 138021.94
- The act holds 5 more points.
11-06
Gazette deed
Transfer proposal: Joachim Derweduwen transfers a branch of activity to De CommerceShare issue · Accounting effect8 points ▸
Gazette deed
Transfer proposal: Joachim Derweduwen transfers a branch of activity to De Commerce
Share issue · Accounting effect8 points ▸
- Transfer of a branch of activity or universality, “Bedrijfstak” (deed in Dutch)
- Transfer of a branch of activity or universality, “branch of activity, Bedrijfstak” (deed in Dutch)
- Share issue, “eerste boekjaar, register van aandelen op naam” (deed in Dutch)
- Accounting effect, 27-11-2023
- Other provision, “alle kosten,rechten,belastingen en lasten uit de inbreng, overname passiva,verbintenissen en kosten Bedrijfstak” (deed in Dutch)
- Other provision, “bijzondere voordelen leden bestuursorganen” (deed in Dutch)
- Other provision, “fiscale bepalingen inbreng Bedrijfstak, art. 11 BTW-wetboek” (deed in Dutch)
- Other provision, “helft, kosten inbreng Bedrijfstak” (deed in Dutch)
2023
04-12
Gazette deed
IncorporationStarting capital €20,000 · Appointments: DERWEDUWEN Joachim Roger Maria (director) and CROUGHS Claudia Nicole (director) · Founder · Bank account10 points ▸
Gazette deed
Incorporation
Starting capital €20,000 · Appointments: DERWEDUWEN Joachim Roger Maria (director) and CROUGHS Claudia Nicole (director) · Founder · Bank account10 points ▸
- Incorporation, 27-11-2023
- Founder, DERWEDUWEN Joachim Roger Maria
- Founder, CROUGHS Claudia Nicole
- Bank account, “KBC Bank, Borgloon” (deed in Dutch)
- Registered office clause, “3830 Wellen,Kortessemstraat 7” (deed in Dutch)
- Board rule, 2, “vergadering” (deed in Dutch)
- Director appointment, DERWEDUWEN Joachim Roger Maria (director (not named in the articles))
- Director appointment, CROUGHS Claudia Nicole (director (not named in the articles))
- Pre-incorporation commitments, “takeover, alle verbintenissen en verplichtingen die eruit voortvloeien en alle activiteiten ondernomen” (deed in Dutch)
- Founding capital, €20,000
Gazette deedNBB filing
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
DE COMMERCE in Dutch
Enterprise number
1002.827.273
Legal form
Private limited company
Status
Active, normale toestand
Founded
30-11-2023
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 04-12-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaamse Gewest”
deed of 04-12-2023 (in Dutch)Registered office and establishments
Registered office
Kortessemstraat 7, 3830 Wellen, Belgium
Establishment units
DE COMMERCE, Kortessemstraat 7, 3830 Wellen since 30-11-2023 · unit number 2.352.545.453
De Commerce, Notelarestraat 6, 3830 Wellen since 01-01-2026 · unit number 2.388.060.717
Activities
NACEBEL 2025VAT activities
73300
Public relations and communication consultancy main activity
47120
Other non-specialised retail sale
73110
Advertising agencies
73200
Market research and public opinion polling
74120
Graphic design and visual communication
82200
Office administrative, office support and other business support activities
Social security (RSZ) activities
73110
Advertising agencies main activity
Codes under NACEBEL 2008
VAT activities
70210
Activities of head offices; management consultancy activities main activity
47191
Retail trade
73110
Advertising, market research and public relations activities
73200
Advertising, market research and public relations activities
74103
Other professional, scientific and technical activities
82200
Office administrative, office support and other business support activities
Social security (RSZ) activities
73110
Advertising, market research and public relations activities main activity
Joint committee
200 Aanvullend Paritair Comité voor de bedienden annual accounts 30-09-2025
Invoicing and payment
VAT number
BE 1002.827.273
Financial year and general meeting
Accounts at the NBBFinancial year end
30-09
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Tuesday of March at 20:00
deed of 04-12-2023 (in Dutch)Sites & property
Location
Buildings and parcels at the addresses
Ground area
1,491 m²
Building footprint
520 m²
Building volume
2,502 m³
Tallest building: 11.2 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 73098B0504/00P002 | Flanders | 850 m² | 1 · 382 m² | 9.9 m · 2 |
| 73098B1117/00S000 | Flanders | 641 m² | 1 · 138 m² | 11.2 m |