Combined Marine Terminal Operations Worldwide
ActiveSummary
Combined Marine Terminal Operations Worldwide has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.54M and a net result of €-1.26M. Equity is growing by ~5.1% per year across the filed fiscal years. Its solvency ranks better than 27% of 3187 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
64
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability40▲+25
Solvency51▼-12
Growth35=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €240k at 30 days acceptable
Liquidity tight (current ratio 1.25 against 2.02 in 2024; short-term debt: 18% and cash: 1.3% of total assets), and 74.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
25.9%
Return on assets
-5%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-06-2026, 56 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
56 d early
2024
51 d early
2023
27 d early
2022
26 d early
2021
19 d early
2020
39 d early
2019
50 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€2.49M▲ 72.4%
2024 · €1.45M
2018: €7.00M
2019: €7.09M
2020: €4.68M
2021: €4.01M
2022: €2.20M
2023: €1.18M
2024: €1.45M
2018 → 2025
EBIT margin
0.2%▲ 51.9pp
2024 · -51.8%
2018: 37.1%
2019: 36.9%
2020: 23.4%
2021: 25.2%
2022: 12.5%
2023: -75.9%
2024: -51.8%
2018 → 2025
Net result
€-1.26M
2024 · €739k
2018: €1.81M
2019: €3.09M
2020: €-1.29M
2021: €1.79M
2022: €795k
2023: €-777k
2024: €739k
2018 → 2025
Working capital
€1.14M▼ 64.3%
2024 · €3.19M
2018: €-943k
2019: €731k
2020: €-1.47M
2021: €-2.01M
2022: €987k
2023: €811k
2024: €3.19M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€4.01M-€2.20M▼ 45.1%€1.18M▼ 46.4%€1.45M▲ 22.8%€2.49M▲ 72.4%
Equity€7.05M-€7.84M▲ 11.3%€7.06M▼ 9.9%€7.80M▲ 10.5%€6.54M▼ 16.1%
Operating result€1.01M-€276k▼ 72.7%€-894k€-749k▲ 16.3%€4k
Net result€1.79M-€795k▼ 55.5%€-777k€739k€-1.26M
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €4k after a loss of €749k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €25.23M
Fixed assets
€19.55M ▲ 35.5%
Current assets
€5.68M ▼ 9.9%
Equity and liabilities €25.23M
Equity
€6.54M ▼ 16.1%
Provisions
€45k =
Debt
€18.65M ▲ 44.7%
Debt's share of the balance-sheet total rises from 62.1% to 73.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€362k▲
2024 · €-391k
Cash flow
€-902k▼
2024 · €1.10M
Current ratio
1.25▼
2024 · 2.02
Debt to equity
2.85▲
2024 · 1.65
ROE
-19.3%▼
2024 · 9.5%
ROA
-5.0%▼
2024 · 3.6%
Interest coverage
0.93▲
2024 · -1.18
Debt ≤ 1 year
€4.55M▲
2024 · €3.12M
Debt > 1 year
€13.99M▲
2024 · €9.74M
Income taxes
€194k▲
2024 · €184k
Staff costs
€274k▼
2024 · €336k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 72 lines
Balance sheet
Code20242025
Assets
Total assets20/58€20.73M€25.23M▲
Fixed assets21/28€14.42M€19.55M▲
Tangible fixed assets22/27€3.18M€14.40M▲
Other tangible fixed assets26€3.18M€2.82M▼
Assets under construction and advance payments27-€11.58M
Financial fixed assets28€11.24M€5.15M▼
Affiliated companies280/1€11.24M€5.15M▼
Participating interests280€457k€457k=
Amounts receivable281€10.79M€4.69M▼
Current assets29/58€6.31M€5.68M▼
Amounts receivable after more than one year29€93k€93k=
Other amounts receivable291€93k€93k=
Amounts receivable within one year40/41€3.97M€4.82M▲
Trade receivables40€1.93M€3.52M▲
Other amounts receivable41€2.04M€1.29M▼
Current investments50/53-€400k
Other investments51/53-€400k
Cash at bank and in hand54/58€2.13M€329k▼
Deferred charges and accrued income490/1€110k€46k▼
Equity and liabilities
Total equity and liabilities10/49€20.73M€25.23M▲
Equity10/15€7.80M€6.54M▼
Contributions10/11€3.00M€3.00M=
Capital10€3.00M€3.00M=
Issued capital100€3.00M€3.00M=
Reserves13€300k€300k=
Non-distributable reserves130/1€300k€300k=
Legal reserve130€300k€300k=
Profit (loss) carried forward14€4.50M€3.24M▼
Provisions and deferred taxes16€45k€45k=
Provisions for liabilities and charges160/5€45k€45k=
Pensions and similar obligations160€45k€45k=
Amounts payable17/49€12.88M€18.65M▲
Amounts payable after more than one year17€9.74M€13.99M▲
Financial debts170/4€9.74M€13.99M▲
Subordinated loans170€1.48M-
Credit institutions173€4.25M€11.29M▲
Other loans174€4.00M€2.70M▼
Amounts payable within one year42/48€3.12M€4.55M▲
Current portion of amounts payable after more than one year42€2.13M€3.53M▲
Trade debts44€949k€952k▲
Suppliers440/4€949k€952k▲
Taxes, remuneration and social security45€38k€69k▲
Remuneration and social security454/9€38k€69k▲
Accrued charges and deferred income492/3€24k€108k▲
Income statement
Code20242025
Operating income70/76A€2.01M€3.14M▲
Turnover70€1.45M€2.49M▲
Other operating income74€567k€642k▲
Operating charges60/66A€2.76M€3.13M▲
Goods for resale, raw materials and consumables60€1.43M€1.71M▲
Purchases600/8€1.43M€1.71M▲
Services and other goods61€636k€788k▲
Remuneration, social security and pensions62€336k€274k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€358k€358k=
Provisions for liabilities and charges: additions (uses and reversals)635/8€6k-
Other operating charges640/8€366€584▲
Operating profit (loss)9901€-749k€4k▲
Financial income75/76B€2.06M€1.05M▼
Recurring financial income75€2.06M€1.05M▼
Income from financial fixed assets750€1.16M€775k▼
Other financial income752/9€903k€276k▼
Financial charges65/66B€388k€2.12M▲
Recurring financial charges65€388k€2.12M▲
Debt charges650€330k€389k▲
Other financial charges652/9€58k€1.73M▲
Profit (loss) for the period before taxes9903€924k€-1.07M▼
Income taxes67/77€184k€194k▲
Taxes670/3€184k€194k▲
Profit (loss) for the period9904€739k€-1.26M▼
Profit (loss) for the period to be appropriated9905€739k€-1.26M▼
Appropriation of the result
Profit (loss) to be appropriated9906€4.50M€3.24M▼
Profit (loss) brought forward from the previous period14P€3.76M€4.50M▲
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (47 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
05-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €739k
Net result €739k after one loss-making year.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €1.79M
Net result €1.79M after one loss-making year.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €-1.29M ▼142%
Net result drops to €-1.29M, the lowest in the series; recovery starts the following year.
11-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Highest result since 2018net €3.09M ▲70.9%
Operating result €2.62M, net result €3.09M, both a record.
31-12
Financial
Equity above €5MEq €6.54M ▲89.5%
2 profitable years in a row build equity to €6.54M.
Show earlier events
28-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
07-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 7 days late
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
26 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, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 2010
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Scheldedijk 302070 Beveren-Kruibeke-ZwijndrechtGround area
2,270 m²
Parcel 11056G0019/00L000, Flanders. Linked by address, not a title deed.
1 establishment unit
CTOW
since 20102.193.406.560
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11056G0019/00L000 | Flanders | 2,270 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Ownership & control
2 parent companiesControl over this companyparent company per the LEI register2
Beveren-Kruibeke-Zwijndrecht
Antwerpen · indirect
controls
Combined Marine Terminal Operations WorldwideBE 0830.767.188
Recognitions · licences · registrations
Legal Entity Identifier
549300V486FYM4BPJJ25
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Of 82,562 companies in sector 70200 we hold annual accounts for 52,574. 9,308 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded27-10-2010
Fiscal year end31-12
Abbreviation NL
CTOW
Activities, NACEBEL 2025
52220Warehousing and support activities for transportation
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.