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ZC COMBINE

Inactive
KBO/BCE: BE 0805.030.912

Inactive; last annual accounts for fiscal year 2024.

Signals

Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024
Equity per financial year
2324
2023 to 2024 · latest year -€25,098
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-05-2025, 61 days ahead of the deadline.
NBB · 2 filings
Deviation from the deadline
2025
not confirmed
2024
61 d early
2023
30 d late
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 2 accounts on average 16 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity
-€25,098▼ 103%
2023 · -€12,373
Total assets
€47,051▼ 22.4%
2023 · €60,622
Net result
-€12,725▲ 26.8%
2023 · -€17,373
Working capital
-€68,065▼ 162%
2023 · -€25,987
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20232024
Operating result-€16,668--€9,516▲ 42.9%
Net result-€17,373--€12,725▲ 26.8%
Equity-€12,373--€25,098▼ 103%
Total assets€60,622-€47,051▼ 22.4%
Debt€72,994-€72,149▼ 1.2%
Working capital-€25,987--€68,065▼ 162%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€20,000-€15,000-€10,000-€5,000€0Operating result 2023: -€16,668-€16,668Net result 2023: -€17,373-€17,373Operating result 2024: -€9,516-€9,516Net result 2024: -€12,725-€12,72520232024-€20,000-€15,000-€10,000-€5,000€0Operating result 2023: -€16,668-€16,700Net result 2023: -€17,373-€17,400Operating result 2024: -€9,516-€9,520Net result 2024: -€12,725-€12,70020232024
The operating result stays negative: a loss of €9,516 in 2024 against €16,668 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €47,051
Fixed assets €42,967 ▲ 9.8%
Current assets €4,084 ▼ 81.0%
Key figures and ratios
2024 value · change against 2023
EBITDA
-€3,465▲
2023 · -€16,124
Cash flow
-€6,674▲
2023 · -€16,828
Solvency
-53.3%▼
2023 · -20.4%
Current ratio
0.06▼
2023 · 0.45
Debt to equity
-2.87▲
2023 · -5.90
ROA
-27.0%▲
2023 · -28.7%
Interest coverage
-1.08▲
2023 · -22.90
Debt ≤ 1 year
€72,149▲
2023 · €47,463
Debt > 1 year
€0▼
2023 · €25,531
Income taxes
€36
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 40 lines
Balance sheet Code20232024
Assets
Total assets20/58€60,622€47,051▼
Fixed assets21/28€39,145€42,967▲
Intangible fixed assets21€9,601€11,519▲
Tangible fixed assets22/27€29,544€31,448▲
Land and buildings22€22,094€31,448▲
Plant, machinery and equipment23€7,450€0▼
Current assets29/58€21,476€4,084▼
Amounts receivable within one year40/41€4,435€3,600▼
Trade receivables40-€3,600
Other amounts receivable41€4,435€0▼
Cash at bank and in hand54/58€15,922€414▼
Deferred charges and accrued income490/1€1,119€71▼
Equity and liabilities
Total equity and liabilities10/49€60,622€47,051▼
Equity10/15-€12,373-€25,098▼
Contributions10/11€5,000€5,000=
Profit (loss) carried forward14-€17,373-€30,098▼
Amounts payable17/49€72,994€72,149▼
Amounts payable after more than one year17€25,531€0▼
Financial debts170/4€25,531€0▼
Amounts payable within one year42/48€47,463€72,149▲
Trade debts44€9,284€27▼
Suppliers440/4€9,284€27▼
Taxes, remuneration and social security45-€760
Taxes450/3-€760
Other amounts payable47/48€38,180€71,361▲
Income statement Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€545€6,051▲
Other operating charges640/8€436€678▲
Non-recurring operating charges66A-€1,359
Gross operating margin9900-€15,688-€1,428▲
Operating profit (loss)9901-€16,668-€9,516▲
Financial income75/76B-€26
Recurring financial income75-€26
Financial charges65/66B€704€3,199▲
Recurring financial charges65€704€3,199▲
Profit (loss) for the period before taxes9903-€17,373-€12,689▲
Income taxes67/77-€36
Profit (loss) for the period9904-€17,373-€12,725▲
Profit (loss) for the period to be appropriated9905-€17,373-€12,725▲
Appropriation of the result
Profit (loss) to be appropriated9906-€17,373-€30,098▼
Profit (loss) brought forward from the previous period14P--€17,373

The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20232024Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€545€6,051▲ 1,011%
Other operating charges640/8€436€678▲ 55.7%
Non-recurring operating charges66A-€1,359-
Gross operating margin9900-€15,688-€1,428▲ 90.9%
Operating profit (loss)9901-€16,668-€9,516▲ 42.9%
Financial income75/76B-€26-
Recurring financial income75-€26-
Financial charges65/66B€704€3,199▲ 354%
Recurring financial charges65€704€3,199▲ 354%
Profit (loss) for the period before taxes9903-€17,373-€12,689▲ 27.0%
Income taxes67/77-€36-
Profit (loss) for the period9904-€17,373-€12,725▲ 26.8%
Profit (loss) for the period to be appropriated9905-€17,373-€12,725▲ 26.8%
Line20232024Change
Assets
Total assets20/58€60,622€47,051▼ 22.4%
Fixed assets21/28€39,145€42,967▲ 9.8%
Intangible fixed assets21€9,601€11,519▲ 20.0%
Tangible fixed assets22/27€29,544€31,448▲ 6.4%
Land and buildings22€22,094€31,448▲ 42.3%
Plant, machinery and equipment23€7,450€0▼ 100%
Current assets29/58€21,476€4,084▼ 81.0%
Amounts receivable within one year40/41€4,435€3,600▼ 18.8%
Trade receivables40-€3,600-
Other amounts receivable41€4,435€0▼ 100%
Cash at bank and in hand54/58€15,922€414▼ 97.4%
Deferred charges and accrued income490/1€1,119€71▼ 93.7%
Equity and liabilities
Total equity and liabilities10/49€60,622€47,051▼ 22.4%
Equity10/15-€12,373-€25,098▼ 103%
Contributions10/11€5,000€5,000=
Profit (loss) carried forward14-€17,373-€30,098▼ 73.2%
Amounts payable17/49€72,994€72,149▼ 1.2%
Amounts payable after more than one year17€25,531€0▼ 100%
Financial debts170/4€25,531€0▼ 100%
Amounts payable within one year42/48€47,463€72,149▲ 52.0%
Trade debts44€9,284€27▼ 99.7%
Suppliers440/4€9,284€27▼ 99.7%
Taxes, remuneration and social security45-€760-
Taxes450/3-€760-
Other amounts payable47/48€38,180€71,361▲ 86.9%
Line20232024Change
Profit (loss) for the period9904-€17,373-€12,725▲ 26.8%
+ Depreciation and write-downs630€545€6,051▲ 1,011%
Operating cash flow (approximation)-€16,828-€6,674▲ 60.3%
Investment in fixed assets (approximation)--€9,872-
Change in cash--€15,509-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2025
31-05
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
NBB filing
0 of 5 acts read
About the unread acts

We know of 5 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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Structure & network

Owners and holdings

1 owner

Chain of control

  1. FLC ADVISORY 100%
  2. ZC COMBINE

Highest known parent: FLC ADVISORY. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.