DE COMMODORE
ActiveSummary
DE COMMODORE has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €151,890 and a net result of -€2,533. Equity is shrinking by about 7% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Equity
- €151,890
- Loss
- -€2,533
Why 86raises riskLiquidity: current ratio 0.00, cash €196lowers riskSize: total assets €293,382Founded in 1993Figures for financial year 2025 (filed 01-09-2026)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 (no NACE code, micro): better than 45% on solvency, 23% on liquidity, 45% on profitability and 39% on growth.
The bankruptcy probability was computed on 26-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 17 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Annual accounts filedfinancial year 2023 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (28 days) Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00473230.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €5,488 in 2025 against €6,064 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 12,322 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90.3% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 12,322 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,720 | €26,505 | €26,505 | €26,505 | €26,505 | €16,693 | €11,981 | €11,981 | = |
| Other operating charges640/8 | - | - | - | - | €631 | - | - | - | - |
| Gross operating margin9900 | €82,100 | €1,790 | €4,977 | €4,768 | €8,454 | €8,669 | €5,917 | €6,493 | ▲ 9.7% |
| Operating profit (loss)9901 | €39,367 | -€26,632 | -€22,284 | -€22,751 | -€18,683 | -€8,024 | -€6,064 | -€5,488 | ▲ 9.5% |
| Financial income75/76B | - | - | - | - | €651 | - | - | - | - |
| Recurring financial income75 | €5 | €77 | - | - | €651 | - | - | - | - |
| Financial charges65/66B | - | - | - | - | €234 | €126 | €205 | €201 | ▼ 1.9% |
| Recurring financial charges65 | €1,809 | €644 | €308 | €288 | €234 | €126 | €205 | €201 | ▼ 1.9% |
| Profit (loss) for the period before taxes9903 | €37,563 | -€27,200 | -€22,593 | -€23,039 | -€18,265 | -€8,150 | -€6,268 | -€5,689 | ▲ 9.2% |
| Transfer from deferred taxes780 | - | - | - | - | €3,156 | €3,156 | €3,156 | €3,156 | = |
| Income taxes67/77 | €3,671 | €392 | €364 | €365 | €370 | €366 | - | - | - |
| Profit (loss) for the period9904 | €37,048 | -€24,436 | -€19,801 | -€20,248 | -€15,479 | -€5,360 | -€3,112 | -€2,533 | ▲ 18.6% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €6,408 | €6,408 | €6,408 | €6,408 | = |
| Profit (loss) for the period to be appropriated9905 | €43,456 | -€18,028 | -€13,393 | -€13,840 | -€9,071 | €1,048 | €3,296 | €3,875 | ▲ 17.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €444,600 | €419,370 | €387,853 | €363,691 | €334,430 | €317,767 | €305,252 | €293,382 | ▼ 3.9% |
| Fixed assets21/28 | €439,861 | €413,356 | €386,851 | €360,346 | €333,840 | €317,148 | €305,167 | €293,186 | ▼ 3.9% |
| Tangible fixed assets22/27 | €439,861 | €413,356 | €386,851 | €360,346 | €333,840 | €317,148 | €305,167 | €293,186 | ▼ 3.9% |
| Land and buildings22 | - | - | - | - | €332,520 | €315,827 | €303,846 | €291,865 | ▼ 3.9% |
| Other tangible fixed assets26 | - | - | - | - | €1,321 | €1,321 | €1,321 | €1,321 | = |
| Current assets29/58 | €4,739 | €6,013 | €1,002 | €3,346 | €589 | €619 | €85 | €196 | ▲ 131% |
| Amounts receivable within one year40/41 | €89 | €93 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €4,483 | €5,921 | €1,002 | €2,957 | €589 | €619 | €85 | €196 | ▲ 131% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €444,600 | €419,370 | €387,853 | €363,691 | €334,430 | €317,767 | €305,252 | €293,382 | ▼ 3.9% |
| Equity10/15 | €242,858 | €218,423 | €198,622 | €178,374 | €162,895 | €157,535 | €154,423 | €151,890 | ▼ 1.6% |
| Contributions10/11 | €18,592 | €18,592 | - | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €224,266 | €199,831 | €193,423 | €179,386 | €172,978 | €164,711 | €158,303 | €151,895 | ▼ 4.0% |
| Non-distributable reserves130/1 | - | - | - | - | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,859 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | - | €171,119 | €164,711 | €158,303 | €151,895 | ▼ 4.0% |
| Profit (loss) carried forward14 | - | - | -€13,393 | -€19,603 | -€28,675 | -€25,768 | -€22,472 | -€18,597 | ▲ 17.2% |
| Provisions and deferred taxes16 | €88,550 | €85,394 | €82,238 | €79,082 | €75,926 | €72,770 | €69,614 | €66,458 | ▼ 4.5% |
| Deferred taxes168 | - | - | - | - | €75,926 | €72,770 | €69,614 | €66,458 | ▼ 4.5% |
| Amounts payable17/49 | €113,192 | €115,553 | €106,993 | €106,235 | €95,609 | €87,462 | €81,215 | €75,035 | ▼ 7.6% |
| Amounts payable after more than one year17 | €20,663 | €14,689 | €8,654 | €2,558 | - | - | - | - | - |
| Amounts payable within one year42/48 | €92,529 | €100,864 | €98,339 | €103,677 | €95,609 | €87,462 | €81,215 | €75,035 | ▼ 7.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €2,558 | - | - | - | - |
| Trade debts44 | €168 | €90 | €180 | €100 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €370 | €736 | €366 | - | - |
| Taxes450/3 | - | - | - | - | €370 | €736 | €366 | - | - |
| Other amounts payable47/48 | - | - | - | - | €92,681 | €86,726 | €80,849 | €75,035 | ▼ 7.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,048 | -€24,436 | -€19,801 | -€20,248 | -€15,479 | -€5,360 | -€3,112 | -€2,533 | ▲ 18.6% |
| + Depreciation and write-downs630 | €31,720 | €26,505 | €26,505 | €26,505 | €26,505 | €16,693 | €11,981 | €11,981 | = |
| Operating cash flow (approximation) | €68,768 | €2,070 | €6,705 | €6,258 | €11,026 | €11,332 | €8,869 | €9,448 | ▲ 6.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €1,438 | -€4,919 | €1,955 | -€2,368 | €29 | -€534 | €111 | - |
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 | micro format | 28-08-2026 | 2026-00473230 |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00474922 |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00419493 |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00415265 |
| 31-12-2021 | micro format | 31-03-2022 | 2022-09600336 |
| 31-12-2020 | micro format | 31-08-2021 | 2021-61000075 |
| 31-12-2019 | micro format | 30-10-2020 | 2020-66900526 |
| 31-12-2018 | micro format | 30-08-2019 | 2019-60400041 |
| 31-12-2017 | micro format | 04-05-2018 | 2018-12100593 |
| 31-12-2016 | abbreviated format | 13-06-2017 | 2017-17100184 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Capital and shareholders
- 26-10-2023 Converted to unavailable equity · €18,592
Group and network
Connections & network
No directors read yet: 1 of 5 Gazette acts processed.
History
Acts, filings and financial milestones
26-10
Gazette deed
Legal-form change · Resignations & appointmentsAmendment of the articles · Capital conversion · Capital7 facts ▸
- General meeting, 16-10-2023
- Amendment of the articles (3 times)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Capital
- Director in office, LOUWAGIE Rik (director)
- Registered office clause, “8630 Veurne, Spreeuwenbergstraat 13 bus 0301” (deed in Dutch)
- Power of attorney
About the unread acts
Of the 5 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 38025A0036/00M000 | Flanders | 1,637 m² | 1 · 431 m² | 26.7 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het verwerven, het verkopen, het verhuren, het geven van concessies van roerende goederen; Het in standhouden van roerende goederen; Het…” (deed in Dutch)
7 activities (deed in Dutch)
- Het verwerven, het verkopen, het verhuren, het geven van concessies van roerende goederen
- Het in standhouden van roerende goederen
- Het verwerven, het verkopen, het verhuren, het geven van concessies van handelszaken
- Het inrichten en het in standhouden van handelszaken
- Het afsluiten van contracten tot algemene dienstverlening
- Het verwerven, het verkopen, het verhuren, het geven van concessies van onroerende goederen zowel voor eigen rekening, voor rekening van derden of in deelneming met derden
- Het toestaan van leningen en kredietopeningen aan vennootschappen of particulieren, onder om het even welke vorm, samengaand met de hierboven opgesomde handelingen; in dit kader kan zij zich ook borg stellen of haar aval verlenen, in de meest ruime zin, alle handels- en financiële operaties verrichten behalve die wettelijk voorbehouden zijn aan depositobanken, houders van deposito's op korte termijn, spaarkassen, hypotheekmaatschappijen en kapitalisatieondernemingen
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- DE COMMODORE
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, Artikel 2” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking, natuurlijke personen of rechtspersonen al dan niet aandeelhouder” (deed in Dutch)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Anderhalf procent boven wettelijke intrest vanaf definitieve vaststelling tot volledige afbetaling, Wetboek van Vennootschappen en…” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Monday of June at 14:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Beslissing algemene vergadering in vormen statutenwijziging” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Bestuurder(s) in functie krachtens statuten indien geen andere vereffenaar benoemd” (deed in Dutch)