MADE BY COM
ActiveSummary
The computed 12-month bankruptcy probability of MADE BY COM is 4.6% (elevated). The 2025 annual accounts show negative equity (-€17,827) and a net result of €8,786. Equity is shrinking by ~27.6% per year across the filed fiscal years. Its solvency ranks better than 5% of 28254 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability96▲+22
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
4.6%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.65 against 0.55 in 2024; short-term debt: 144.9% and cash: 15.7% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-44.9%
Return on assets
22.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 28254 sector peers (2025).
NBB · sector comparisonPosition among 28254 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 7 filingsDeviation from the deadline
2025
28 d late
2024
19 d late
2023
33 d early
2022
28 d early
2021
33 d early
2020
19 d late
2019
35 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 9 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 3 July (4 of the last 5 filed years within 47 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€17,827▲ 33.0%
2024 · -€26,614
Total assets
€39,666▲ 20.2%
2024 · €33,001
Net result
€8,786▲ 508%
2024 · €1,446
Working capital
-€20,074▲ 24.6%
2024 · -€26,614
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€12,559-€11,015▲ 12.3%-€7,086▲ 35.7%€1,976€9,380▲ 375%
Net result-€13,049below the sector's middle half-€11,547below the sector's middle half▲ 11.5%-€7,708below the sector's middle half▲ 33.2%€1,446within the sector's middle half€8,786within the sector's middle half▲ 508%
Equity-€8,805below the sector's middle half-€20,352below the sector's middle half▼ 131%-€28,060below the sector's middle half▼ 37.9%-€26,614below the sector's middle half▲ 5.2%-€17,827below the sector's middle half▲ 33.0%
Total assets€52,565below the sector's middle half▼ 24.7%€24,409below the sector's middle half▼ 53.6%€12,478below the sector's middle half▼ 48.9%€33,001below the sector's middle half▲ 164%€39,666below the sector's middle half▲ 20.2%
Debt€61,370▼ 6.4%€44,761▼ 27.1%€40,538▼ 9.4%€59,615▲ 47.1%€57,494▼ 3.6%
Working capital-€30,055below the sector's middle half▼ 10.2%-€30,581below the sector's middle half▼ 1.8%-€28,845below the sector's middle half▲ 5.7%-€26,614below the sector's middle half▲ 7.7%-€20,074below the sector's middle half▲ 24.6%
Solvency-16.8%below the sector's middle half▼ 22.8pp-83.4%below the sector's middle half▼ 66.6pp-224.9%below the sector's middle half▼ 141.5pp-80.6%below the sector's middle half▲ 144.2pp-44.9%below the sector's middle half▲ 35.7pp
Current ratio0.51below the sector's middle half▼ 0.070.32below the sector's middle half▼ 0.190.29below the sector's middle half▼ 0.030.55below the sector's middle half▲ 0.270.65below the sector's middle half▲ 0.10
Return on assets (ROA)-24.8%below the sector's middle half▼ 33.8pp-47.3%below the sector's middle half▼ 22.5pp-61.8%below the sector's middle half▼ 14.5pp4.4%within the sector's middle half▲ 66.2pp22.2%above the sector's middle half▲ 17.8pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 375% above 2024 and is the highest result in the available series.
Balance-sheet composition
Assets €39,666
Fixed assets
€2,247
Current assets
€37,420
Key figures and ratios
EBITDA
€9,941▲
2024 · €2,761
Cash flow
€9,348▲
2024 · €2,231
Debt to equity
-3.23▼
2024 · -2.24
Interest coverage
46.95▲
2024 · 17.26
Debt ≤ 1 year
€57,494▼
2024 · €59,615
Income taxes
€382▲
2024 · €370
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,178 companies that looked in July 2024 the way this one looks now, 4.3% went bankrupt within 24 months and 89% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
4.3%
went bankrupt
5.6%
stopped otherwise
89%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 4.6% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 2,178 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,174 | €11,021 | €9,444 | €785 | €561 | ▼ 28.5% |
| Other operating charges640/8 | €442 | €855 | €881 | €906 | €957 | ▲ 5.6% |
| Gross operating margin9900 | -€942 | €860 | €3,239 | €3,667 | €10,898 | ▲ 197% |
| Operating profit (loss)9901 | -€12,559 | -€11,015 | -€7,086 | €1,976 | €9,380 | ▲ 375% |
| Financial income75/76B | €0 | €0 | - | - | - | - |
| Recurring financial income75 | €0 | €0 | - | - | - | - |
| Financial charges65/66B | €189 | €180 | €180 | €160 | €212 | ▲ 32.4% |
| Recurring financial charges65 | €189 | €180 | €180 | €160 | €212 | ▲ 32.4% |
| Profit (loss) for the period before taxes9903 | -€12,748 | -€11,196 | -€7,266 | €1,816 | €9,168 | ▲ 405% |
| Income taxes67/77 | €302 | €351 | €442 | €370 | €382 | ▲ 3.2% |
| Profit (loss) for the period9904 | -€13,049 | -€11,547 | -€7,708 | €1,446 | €8,786 | ▲ 508% |
| Profit (loss) for the period to be appropriated9905 | -€13,049 | -€11,547 | -€7,708 | €1,446 | €8,786 | ▲ 508% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €52,565 | €24,409 | €12,478 | €33,001 | €39,666 | ▲ 20.2% |
| Formation expenses20 | €851 | €442 | €34 | - | - | - |
| Fixed assets21/28 | €20,399 | €9,786 | €751 | - | €2,247 | - |
| Intangible fixed assets21 | €17 | - | - | - | - | - |
| Tangible fixed assets22/27 | €20,381 | €9,786 | €751 | - | €2,247 | - |
| Furniture and vehicles24 | €20,381 | €9,786 | €751 | - | €2,247 | - |
| Current assets29/58 | €31,315 | €14,180 | €11,693 | €33,001 | €37,420 | ▲ 13.4% |
| Amounts receivable within one year40/41 | €17,494 | €8,200 | €10,274 | €26,371 | €29,719 | ▲ 12.7% |
| Trade receivables40 | €13,391 | €7,681 | €9,627 | €24,389 | €28,294 | ▲ 16.0% |
| Other amounts receivable41 | €4,103 | €519 | €647 | €1,982 | €1,426 | ▼ 28.1% |
| Cash at bank and in hand54/58 | €12,234 | €4,700 | €24 | €5,172 | €6,210 | ▲ 20.1% |
| Deferred charges and accrued income490/1 | €1,587 | €1,281 | €1,395 | €1,458 | €1,490 | ▲ 2.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €52,565 | €24,409 | €12,478 | €33,001 | €39,666 | ▲ 20.2% |
| Equity10/15 | -€8,805 | -€20,352 | -€28,060 | -€26,614 | -€17,827 | ▲ 33.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | €18,600 | €18,600 | - | - | - | - |
| Issued capital100 | €18,600 | €18,600 | - | - | - | - |
| Profit (loss) carried forward14 | -€27,405 | -€38,952 | -€46,660 | -€45,214 | -€36,427 | ▲ 19.4% |
| Amounts payable17/49 | €61,370 | €44,761 | €40,538 | €59,615 | €57,494 | ▼ 3.6% |
| Amounts payable within one year42/48 | €61,370 | €44,761 | €40,538 | €59,615 | €57,494 | ▼ 3.6% |
| Trade debts44 | €643 | €1,050 | €909 | €23,642 | €15,925 | ▼ 32.6% |
| Suppliers440/4 | €643 | €1,050 | €909 | €23,642 | €15,925 | ▼ 32.6% |
| Taxes, remuneration and social security45 | €662 | €681 | €352 | - | €9 | - |
| Taxes450/3 | €662 | €681 | €352 | - | €9 | - |
| Other amounts payable47/48 | €60,065 | €43,030 | €39,276 | €35,973 | €41,559 | ▲ 15.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,049 | -€11,547 | -€7,708 | €1,446 | €8,786 | ▲ 508% |
| + Depreciation and write-downs630 | €11,174 | €11,021 | €9,444 | €785 | €561 | ▼ 28.5% |
| Operating cash flow (approximation) | -€1,875 | -€526 | €1,736 | €2,231 | €9,348 | ▲ 319% |
| Investment in fixed assets (approximation) | - | -€408 | -€408 | - | - | - |
| Change in cash | - | -€7,534 | -€4,676 | €5,148 | €1,038 | ▼ 79.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Highest result since 2019net €8,786 ▲508%
Operating result €9,380, net result €8,786, both a record.
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 19 days late
2024
31-12
Financial
Back to profitnet €1,446
Net result €1,446 after 3 loss-making years.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 19 days late
2020
31-12
Financial
Back to profitnet €6,255
Net result €6,255 after one loss-making year.
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Pieters-Woluwe · 1 establishment unit since 2019
Ground area
92 m²
Building footprint
82 m²
Volume, LiDAR
756 m³
Parcel 21683D0359/00A006, Brussels · tallest building 10.7 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MADE BY COM
since 20192.286.316.724
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21683D0359/00A006 | Brussels | 92 m² | 1 · 82 m² | 10.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 22,829 companies in sector 43211 we hold annual accounts for 10,334. 3,302 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded26-02-2019
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
71112Activities of interior architects
71113Urban planning and landscape architecture
73300Public relations and communication consultancy
81100Combined facilities support activities
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0721553702
Also
9925:BE0721553702
Registered
22-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.