Komback
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 8 filings
Turnover
≈ €340,000
Estimated: probably between €260,000 and €420,000
Total assets
€864,005▲ 45.3%
2024 · €594,789
Net result
€102,418▲ 18.6%
2024 · €86,387
Working capital
€172,540▼ 24.5%
2024 · €228,413
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€138,447
▲ 20.7%
2025
20182025
Net result
€102,418
▲ 18.6%
2025
middle half of the sector
20182025
Equity
€291,199
▲ 5.8%
2025
middle half of the sector
20182025
Total assets
€864,005
▲ 45.3%
2025
highest quarter of the sector
20182025
Debt
€572,806
▲ 79.2%
2025
20182025
Working capital
€172,540
▼ 24.5%
2025
middle half of the sector
20182025
Solvency
33.7%
▼ 12.6pp
2025
middle half of the sector
20182025
Current ratio
2.40
▼ 4.39
2025
middle half of the sector
20182025
Return on assets (ROA)
11.9%
▼ 2.7pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€33,768-€13,929▼ 58.8%€65,256▲ 368%€89,997▲ 37.9%€83,394▼ 7.3%€125,974▲ 51.1%€114,718▼ 8.9%€138,447▲ 20.7%
Net result€25,205-€10,176▼ 59.6%€49,027within the sector's middle half▲ 382%€65,036within the sector's middle half▲ 32.7%€60,581within the sector's middle half▼ 6.9%€98,468within the sector's middle half▲ 62.5%€86,387within the sector's middle half▼ 12.3%€102,418within the sector's middle half▲ 18.6%
Equity€31,405-€41,581▲ 32.4%€86,608within the sector's middle half▲ 108%€151,645within the sector's middle half▲ 75.1%€212,125within the sector's middle half▲ 39.9%€188,781within the sector's middle half▼ 11.0%€275,168within the sector's middle half▲ 45.8%€291,199within the sector's middle half▲ 5.8%
Total assets€56,356-€55,373▼ 1.7%€124,638below the sector's middle half▲ 125%€163,423within the sector's middle half▲ 31.1%€224,916within the sector's middle half▲ 37.6%€317,243within the sector's middle half▲ 41.0%€594,789within the sector's middle half▲ 87.5%€864,005above the sector's middle half▲ 45.3%
Debt€24,951-€13,792▼ 44.7%€38,030▲ 176%€11,779▼ 69.0%€12,791▲ 8.6%€128,463▲ 904%€319,622▲ 149%€572,806▲ 79.2%
Working capital€10,052-€15,531▲ 54.5%€64,354within the sector's middle half▲ 314%€128,061within the sector's middle half▲ 99.0%€189,458within the sector's middle half▲ 47.9%€171,394within the sector's middle half▼ 9.5%€228,413within the sector's middle half▲ 33.3%€172,540within the sector's middle half▼ 24.5%
Solvency55.7%-75.1%▲ 19.4pp69.5%within the sector's middle half▼ 5.6pp92.8%above the sector's middle half▲ 23.3pp94.3%above the sector's middle half▲ 1.5pp59.5%within the sector's middle half▼ 34.8pp46.3%within the sector's middle half▼ 13.2pp33.7%within the sector's middle half▼ 12.6pp
Current ratio1.43-2.13▲ 0.692.69within the sector's middle half▲ 0.5711.87above the sector's middle half▲ 9.1815.81above the sector's middle half▲ 3.942.33within the sector's middle half▼ 13.486.79within the sector's middle half▲ 4.452.40within the sector's middle half▼ 4.39
Return on assets (ROA)44.7%-18.4%▼ 26.3pp39.3%above the sector's middle half▲ 21.0pp39.8%above the sector's middle half▲ 0.5pp26.9%within the sector's middle half▼ 12.9pp31.0%within the sector's middle half▲ 4.1pp14.5%within the sector's middle half▼ 16.5pp11.9%within the sector's middle half▼ 2.7pp
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 21% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.
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
2025 in colour, 2024 as the grey bar beneath
Assets €864,005
Fixed assets
€568,203 ▲ 73.8%
Current assets
€295,801 ▲ 10.4%
Equity and liabilities €864,005
Equity
€291,199 ▲ 5.8%
Debt
€572,806 ▲ 79.2%
Debt's share of the balance-sheet total rises from 53.7% to 66.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€161,163▲
2024 · €124,419
Cash flow
€125,135▲
2024 · €96,088
Quick ratio
2.38▼
2024 · 6.79
Debt to equity
1.97▲
2024 · 1.16
ROE
35.2%▲
2024 · 31.4%
Interest coverage
9.76▼
2024 · 23.44
Debt ≤ 1 year
€123,261▲
2024 · €39,465
Debt > 1 year
€449,545▲
2024 · €280,156
Income taxes
€19,611▼
2024 · €23,024
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | - | - | €27,500 | €27,500 |
| Mortgage mandates | - | - | - | €522,500 | €522,500 |
| Carrying value of the mortgaged assets | - | - | - | €310,560 | €546,530 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €11,988 | €10,480 | €2,768 | €319,225 | €264,009 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €10,659 | €11,395 | €8,049 | €9,701 | €22,717 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €2,111 awarded · €2,111 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €201 | €201 |
| 2023 | 1 | €150 | €150 |
| 2022 | 1 | €1,760 | €1,760 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,350 | €9,094 | €10,498 | €10,659 | €11,395 | €8,049 | €9,701 | €22,717 | ▲ 134% |
| Other operating charges640/8 | - | - | - | €348 | €348 | €384 | €733 | €8,991 | ▲ 12× |
| Gross operating margin9900 | €40,595 | €23,371 | €76,228 | €101,003 | €95,137 | €134,408 | €125,152 | €170,154 | ▲ 36.0% |
| Operating profit (loss)9901 | €33,768 | €13,929 | €65,256 | €89,997 | €83,394 | €125,974 | €114,718 | €138,447 | ▲ 20.7% |
| Financial income75/76B | - | - | - | €0 | - | - | €1 | €97 | ▲ 70× |
| Recurring financial income75 | €1 | - | €0 | €0 | - | - | €1 | €97 | ▲ 70× |
| Financial charges65/66B | - | - | - | €446 | €584 | €637 | €5,308 | €16,514 | ▲ 211% |
| Recurring financial charges65 | - | €139 | €714 | €446 | €584 | €637 | €5,308 | €16,514 | ▲ 211% |
| Profit (loss) for the period before taxes9903 | €33,769 | €13,790 | €64,542 | €89,551 | €82,810 | €125,338 | €109,412 | €122,029 | ▲ 11.5% |
| Income taxes67/77 | €8,564 | €3,613 | €15,515 | €24,515 | €22,229 | €26,870 | €23,024 | €19,611 | ▼ 14.8% |
| Profit (loss) for the period9904 | €25,205 | €10,176 | €49,027 | €65,036 | €60,581 | €98,468 | €86,387 | €102,418 | ▲ 18.6% |
| Profit (loss) for the period to be appropriated9905 | €25,205 | €10,176 | €49,027 | €65,036 | €60,581 | €98,468 | €86,387 | €102,418 | ▲ 18.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €56,356 | €55,373 | €124,638 | €163,423 | €224,916 | €317,243 | €594,789 | €864,005 | ▲ 45.3% |
| Fixed assets21/28 | €23,005 | €26,050 | €22,254 | €23,583 | €22,668 | €17,386 | €326,911 | €568,203 | ▲ 73.8% |
| Tangible fixed assets22/27 | €23,005 | €26,050 | €22,254 | €23,583 | €22,668 | €17,386 | €326,911 | €568,203 | ▲ 73.8% |
| Land and buildings22 | - | - | - | €6,662 | €3,389 | €2,672 | €312,514 | €547,767 | ▲ 75.3% |
| Plant, machinery and equipment23 | - | - | - | €16,921 | €19,279 | €14,715 | €14,397 | €20,437 | ▲ 42.0% |
| Current assets29/58 | €33,351 | €29,323 | €102,384 | €139,840 | €202,248 | €299,857 | €267,879 | €295,801 | ▲ 10.4% |
| Stocks and contracts in progress3 | - | - | - | - | - | - | - | €2,535 | - |
| Stocks30/36 | - | - | - | - | - | - | - | €2,535 | - |
| Amounts receivable within one year40/41 | €14,847 | €7,959 | €379 | €1,247 | €2,739 | €11,762 | €15,814 | €2,513 | ▼ 84.1% |
| Trade receivables40 | - | - | - | €1,247 | €2,739 | €3,632 | €5,708 | €500 | ▼ 91.2% |
| Other amounts receivable41 | - | - | - | - | - | €8,130 | €10,106 | €2,013 | ▼ 80.1% |
| Cash at bank and in hand54/58 | €18,504 | €21,364 | €102,006 | €138,592 | €199,509 | €288,095 | €252,065 | €290,753 | ▲ 15.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €56,356 | €55,373 | €124,638 | €163,423 | €224,916 | €317,243 | €594,789 | €864,005 | ▲ 45.3% |
| Equity10/15 | €31,405 | €41,581 | €86,608 | €151,645 | €212,125 | €188,781 | €275,168 | €291,199 | ▲ 5.8% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €25,205 | €35,381 | €80,408 | €145,445 | €205,925 | €182,581 | €268,968 | €284,999 | ▲ 6.0% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €143,585 | €204,065 | €180,721 | €268,968 | €284,999 | ▲ 6.0% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €24,951 | €13,792 | €38,030 | €11,779 | €12,791 | €128,463 | €319,622 | €572,806 | ▲ 79.2% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €280,156 | €449,545 | ▲ 60.5% |
| Financial debts170/4 | - | - | - | - | - | - | €280,156 | €449,545 | ▲ 60.5% |
| Amounts payable within one year42/48 | €23,300 | €13,792 | €38,030 | €11,779 | €12,791 | €128,463 | €39,465 | €123,261 | ▲ 212% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €15,938 | €27,130 | ▲ 70.2% |
| Financial debts43 | - | - | - | - | - | - | - | €66 | - |
| Credit institutions430/8 | - | - | - | - | - | - | - | €66 | - |
| Trade debts44 | €105 | €5,441 | €9,754 | €373 | €0 | €1,011 | €15,882 | €16,369 | ▲ 3.1% |
| Suppliers440/4 | - | - | - | €373 | €0 | €1,011 | €15,882 | €16,369 | ▲ 3.1% |
| Taxes, remuneration and social security45 | - | - | - | €9,865 | €10,343 | €21,037 | €5,823 | €13,037 | ▲ 124% |
| Taxes450/3 | - | - | - | €9,865 | €10,343 | €21,037 | €5,823 | €13,037 | ▲ 124% |
| Other amounts payable47/48 | - | - | - | €1,541 | €2,447 | €106,414 | €1,822 | €66,660 | ▲ 37× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,205 | €10,176 | €49,027 | €65,036 | €60,581 | €98,468 | €86,387 | €102,418 | ▲ 18.6% |
| + Depreciation and write-downs630 | €6,350 | €9,094 | €10,498 | €10,659 | €11,395 | €8,049 | €9,701 | €22,717 | ▲ 134% |
| Operating cash flow (approximation) | €31,555 | €19,270 | €59,526 | €75,695 | €71,976 | €106,517 | €96,088 | €125,135 | ▲ 30.2% |
| Investment in fixed assets (approximation) | - | -€12,139 | -€6,703 | -€11,988 | -€10,480 | -€2,768 | -€319,225 | -€264,009 | ▲ 17.3% |
| Change in cash | - | €2,859 | €80,642 | €36,587 | €60,917 | €88,586 | -€36,030 | €38,688 | - |
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, 6,782 companies had the same profile as Komback has now. Two years later, 96.7% were still going and 0.6% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.7%
was still going
2.7%
stopped otherwise
0.6%
went bankrupt
That fits the bankruptcy probability of Komback itself: < 0.1% 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 6,782 companies, not a prediction for Komback. 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 (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-07-2026 | 2026-00327281 | |
| 31-12-2024 | micro format | 24-07-2025 | 2025-00311050 | |
| 31-12-2023 | micro format | 30-07-2024 | 2024-00307050 | |
| 31-12-2022 | micro format | 26-07-2023 | 2023-00271388 | |
| 31-12-2021 | micro format | 27-07-2022 | 2022-20241043 | |
| 31-12-2020 | micro format | 21-07-2021 | 2021-38600480 | |
| 31-12-2019 | micro format | 23-07-2020 | 2020-33500139 | |
| 31-12-2018 | micro format | 30-07-2019 | 2019-41300426 |