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COMARDEN

Active
Private limited companyfounded 197749 yrs activeRue des Corettes 47, 6880 Bertrix, BelgiumKBO/BCE: BE 0417.128.011
Summary

COMARDEN has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.98M and a net result of €112k. Equity is growing by ~6.2% per year across the filed fiscal years. Its solvency ranks better than 73% of 4886 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability57▼-2
Solvency92=
Growth51▲+1
Track record100
Bankruptcy probability, 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €450k at 30 days acceptable
Liquidity ample (current ratio 4.55 against 4.47 in 2024; short-term debt: 20.7% and cash: 13.8% of total assets), and 33.1% of the assets are financed with debt.
Credit check for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 49 years 0 50 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
66.9%
Return on assets
1.3%
Age of the figures
9 mo
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-08-2026, 14 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 · 10 filings
Deviation from the deadline
2025
14 d late
2024
29 d late
2023
12 d early
2022
28 d late
2021
30 d early
2020
15 d early
2019
61 d late
← 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 months
Position in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
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 2025, full schema

Turnover
€18.24M▲ 9.0%
2024 · €16.73M
2018: €13.76M 2019: €13.61M▼ -1.1% vs 2018lowest in 8 years 2020: €14.94M▲ +9.8% vs 2019 2021: €17.80M▲ +19.1% vs 2020 2022: €20.45M▲ +14.9% vs 2021highest in 8 years 2023: €17.63M▼ -13.8% vs 2022 2024: €16.73M▼ -5.1% vs 2023 2025: €18.24M▲ +9.0% vs 2024
2018 → 2025
EBIT margin
1.2%▼ 0.8pp
2024 · 2.0%
2018: 3.8% 2019: 5.3%▲ +38.8% vs 2018 2020: 7.4%▲ +39.5% vs 2019 2021: 7.5%▲ +1.1% vs 2020highest in 8 years 2022: 7.3%▼ -2.4% vs 2021 2023: 2.4%▼ -67.5% vs 2022 2024: 2.0%▼ -15.0% vs 2023 2025: 1.2%▼ -41.2% vs 2024lowest in 8 years
2018 → 2025
Net result
€112k▼ 50.9%
2024 · €229k
2018: €347k 2019: €501k▲ +44.5% vs 2018 2020: €805k▲ +60.6% vs 2019 2021: €990k▲ +23.0% vs 2020 2022: €1.14M▲ +14.9% vs 2021highest in 8 years 2023: €277k▼ -75.7% vs 2022 2024: €229k▼ -17.3% vs 2023 2025: €112k▼ -50.9% vs 2024lowest in 8 years
2018 → 2025
Working capital
€6.57M▲ 4.4%
2024 · €6.29M
2018: €4.25Mlowest in 8 years 2019: €4.54M▲ +6.9% vs 2018 2020: €5.04M▲ +11.0% vs 2019 2021: €5.79M▲ +14.8% vs 2020 2022: €5.96M▲ +2.9% vs 2021 2023: €5.98M▲ +0.2% vs 2022 2024: €6.29M▲ +5.2% vs 2023 2025: €6.57M▲ +4.4% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise ▼ fall
Line20212022202320242025Trend
Turnover€17.80M-€20.45M▲ 14.9%€17.63M▼ 13.8%€16.73M▼ 5.1%€18.24M▲ 9.0% 2021: €17.80M 2022: €20.45M▲ +14.9% vs 2021highest in 5 years 2023: €17.63M▼ -13.8% vs 2022 2024: €16.73M▼ -5.1% vs 2023lowest in 5 years 2025: €18.24M▲ +9.0% vs 2024
Equity€5.26M-€5.37M▲ 2.1%€5.64M▲ 5.1%€5.87M▲ 4.0%€5.98M▲ 1.9% 2021: €5.26Mlowest in 5 years 2022: €5.37M▲ +2.1% vs 2021 2023: €5.64M▲ +5.1% vs 2022 2024: €5.87M▲ +4.0% vs 2023 2025: €5.98M▲ +1.9% vs 2024highest in 5 years
Operating result€1.34M-€1.50M▲ 12.2%€420k▼ 72.0%€339k▼ 19.3%€217k▼ 35.9% 2021: €1.34M 2022: €1.50M▲ +12.2% vs 2021highest in 5 years 2023: €420k▼ -72.0% vs 2022 2024: €339k▼ -19.3% vs 2023 2025: €217k▼ -35.9% vs 2024lowest in 5 years
Net result€990k-€1.14M▲ 14.9%€277k▼ 75.7%€229k▼ 17.3%€112k▼ 50.9% 2021: €990k 2022: €1.14M▲ +14.9% vs 2021highest in 5 years 2023: €277k▼ -75.7% vs 2022 2024: €229k▼ -17.3% vs 2023 2025: €112k▼ -50.9% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
€0€500k€1.00M€1.50MOperating result 2021: €1.34M€1.34MNet result 2021: €990k€990kOperating result 2022: €1.50M€1.50MNet result 2022: €1.14M€1.14MOperating result 2023: €420k€420kNet result 2023: €277k€277kOperating result 2024: €339k€339kNet result 2024: €229k€229kOperating result 2025: €217k€217kNet result 2025: €112k€112k20212022202320242025€0€200k€400kOperating result 2023: €420k€420kNet result 2023: €277k€277kOperating result 2024: €339k€339kNet result 2024: €229k€229kOperating result 2025: €217k€217kNet result 2025: €112k€112k202320242025
The operating result has fallen three years in a row; 2025 is 36% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.93M
Fixed assets €518k ▼ 26.9%
Current assets €8.42M ▲ 3.9%
Equity and liabilities €8.93M
Equity €5.98M ▲ 1.9%
Debt €2.96M ▲ 0.6%
Debt's share of the balance-sheet total falls from 33.4% to 33.1%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€467k▼
2024 · €604k
Cash flow
€362k▼
2024 · €494k
Current ratio
4.55▲
2024 · 4.47
Quick ratio
1.65▲
2024 · 1.48
Debt to equity
0.50▼
2024 · 0.50
ROE
1.9%▼
2024 · 3.9%
ROA
1.3%▼
2024 · 2.6%
Interest coverage
22.81▼
2024 · 30.09
Debt ≤ 1 year
€1.85M▲
2024 · €1.81M
Debt > 1 year
€1.10M▼
2024 · €1.12M
Income taxes
€74k▼
2024 · €107k
Staff costs
€2.05M▼
2024 · €2.22M
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 · 81 lines
Balance sheet Code20242025
Assets
Total assets20/58€8.81M€8.93M▲
Fixed assets21/28€708k€518k▼
Tangible fixed assets22/27€705k€515k▼
Land and buildings22€194k€178k▼
Plant, machinery and equipment23€160k€103k▼
Furniture and vehicles24€193k€105k▼
Leasing and similar rights25€155k€129k▼
Assets under construction and advance payments27€3k€0▼
Financial fixed assets28€3k€3k=
Other financial fixed assets284/8€3k€3k=
Amounts receivable and cash guarantees285/8€3k€3k=
Current assets29/58€8.10M€8.42M▲
Stocks and contracts in progress3€5.42M€5.37M▼
Stocks30/36€5.42M€5.37M▼
Goods purchased for resale34€5.42M€5.37M▼
Amounts receivable within one year40/41€1.54M€1.36M▼
Trade receivables40€1.18M€1.32M▲
Other amounts receivable41€361k€44k▼
Current investments50/53€254k€396k▲
Other investments51/53€254k€396k▲
Cash at bank and in hand54/58€821k€1.23M▲
Deferred charges and accrued income490/1€58k€67k▲
Equity and liabilities
Total equity and liabilities10/49€8.81M€8.93M▲
Equity10/15€5.87M€5.98M▲
Contributions10/11€20k€20k=
Reserves13€5.83M€5.95M▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€608k€503k▼
Distributable reserves133€5.22M€5.44M▲
Investment grants15€12k€9k▼
Amounts payable17/49€2.94M€2.96M▲
Amounts payable after more than one year17€1.12M€1.10M▼
Financial debts170/4€21k€0▼
Leasing and similar obligations172€7k€0▼
Credit institutions173€15k€0▼
Other amounts payable178/9€1.10M€1.10M=
Amounts payable within one year42/48€1.81M€1.85M▲
Current portion of amounts payable after more than one year42€58k€21k▼
Financial debts43€63k€19k▼
Other loans439€63k€19k▼
Trade debts44€391k€564k▲
Suppliers440/4€391k€564k▲
Advances received on contracts in progress46€20k€32k▲
Taxes, remuneration and social security45€349k€341k▼
Taxes450/3€170k€182k▲
Remuneration and social security454/9€179k€159k▼
Other amounts payable47/48€931k€874k▼
Accrued charges and deferred income492/3€7k€7k▲
Income statement Code20242025
Operating income70/76A€16.84M€18.35M▲
Turnover70€16.73M€18.24M▲
Other operating income74€106k€118k▲
Operating charges60/66A€16.50M€18.14M▲
Goods for resale, raw materials and consumables60€12.92M€14.70M▲
Purchases600/8€13.11M€14.64M▲
Change in stocks: decrease (increase)609€-188k€59k▲
Services and other goods61€1.02M€1.08M▲
Remuneration, social security and pensions62€2.22M€2.05M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€265k€249k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€13k€-110k▼
Other operating charges640/8€59k€168k▲
Operating profit (loss)9901€339k€217k▼
Financial income75/76B€190k€184k▼
Recurring financial income75€190k€184k▼
Income from current assets751€185k€180k▼
Other financial income752/9€5k€4k▼
Financial charges65/66B€192k€215k▲
Recurring financial charges65€192k€215k▲
Debt charges650€20k€20k▲
Other financial charges652/9€172k€194k▲
Profit (loss) for the period before taxes9903€336k€186k▼
Income taxes67/77€107k€74k▼
Taxes670/3€109k€74k▼
Tax adjustments and reversals of tax provisions77€2k€0▼
Profit (loss) for the period9904€229k€112k▼
Transfer from tax-exempt reserves789€105k€105k=
Profit (loss) for the period to be appropriated9905€334k€218k▼
Appropriation of the result
Profit (loss) to be appropriated9906€334k€218k▼
Transfer to equity691/2€334k€218k▼
To other reserves6921€334k€218k▼
Social balance
Average headcount (FTE)908730.729.2▼

The notes to these accounts (83 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Accounts by statement
Line20212022202320242025Change
Operating income70/76A€17.93M€20.54M€17.75M€16.84M€18.35M▲ 9.0%
Turnover70€17.80M€20.45M€17.63M€16.73M€18.24M▲ 9.0%
Other operating income74€131k€93k€115k€106k€118k▲ 11.7%
Operating charges60/66A€16.59M€19.04M€17.33M€16.50M€18.14M▲ 9.9%
Goods for resale, raw materials and consumables60€13.38M€15.87M€13.97M€12.92M€14.70M▲ 13.8%
Purchases600/8€14.76M€16.32M€14.29M€13.11M€14.64M▲ 11.7%
Change in stocks: decrease (increase)609€-1.39M€-445k€-313k€-188k€59k▲ 132%
Services and other goods61€1.05M€989k€1.02M€1.02M€1.08M▲ 5.6%
Remuneration, social security and pensions62€1.83M€1.96M€2.09M€2.22M€2.05M▼ 7.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€198k€184k€229k€265k€249k▼ 5.8%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€73k€-3k€-70k€13k€-110k▼ 938%
Other operating charges640/8€61k€43k€77k€59k€168k▲ 186%
Operating profit (loss)9901€1.34M€1.50M€420k€339k€217k▼ 35.9%
Financial income75/76B€163k€219k€176k€190k€184k▼ 3.1%
Recurring financial income75€163k€219k€176k€190k€184k▼ 3.1%
Income from current assets751€162k€213k€171k€185k€180k▼ 2.6%
Other financial income752/9€866€5k€5k€5k€4k▼ 23.1%
Financial charges65/66B€152k€175k€184k€192k€215k▲ 11.6%
Recurring financial charges65€152k€175k€184k€192k€215k▲ 11.6%
Debt charges650€17k€19k€21k€20k€20k▲ 1.9%
Other financial charges652/9€136k€156k€163k€172k€194k▲ 12.7%
Profit (loss) for the period before taxes9903€1.35M€1.54M€412k€336k€186k▼ 44.6%
Income taxes67/77€357k€405k€135k€107k€74k▼ 31.2%
Taxes670/3€358k€405k€135k€109k€74k▼ 32.5%
Tax adjustments and reversals of tax provisions77€453€0-€2k€0▼ 100%
Profit (loss) for the period9904€990k€1.14M€277k€229k€112k▼ 50.9%
Transfer from tax-exempt reserves789---€105k€105k=
Transfer to tax-exempt reserves689€105k€421k€0---
Profit (loss) for the period to be appropriated9905€885k€717k€277k€334k€218k▼ 34.9%
Line20212022202320242025Change
Assets
Total assets20/58€8.20M€9.47M€8.95M€8.81M€8.93M▲ 1.4%
Fixed assets21/28€806k€668k€852k€708k€518k▼ 26.9%
Tangible fixed assets22/27€805k€666k€849k€705k€515k▼ 27.0%
Land and buildings22€212k€193k€178k€194k€178k▼ 8.4%
Plant, machinery and equipment23€226k€187k€183k€160k€103k▼ 35.7%
Furniture and vehicles24€175k€136k€285k€193k€105k▼ 45.6%
Leasing and similar rights25€192k€150k€203k€155k€129k▼ 16.6%
Assets under construction and advance payments27---€3k€0▼ 100%
Financial fixed assets28€2k€2k€3k€3k€3k=
Other financial fixed assets284/8€2k€2k€3k€3k€3k=
Amounts receivable and cash guarantees285/8€2k€2k€3k€3k€3k=
Current assets29/58€7.39M€8.80M€8.09M€8.10M€8.42M▲ 3.9%
Stocks and contracts in progress3€4.48M€4.92M€5.24M€5.42M€5.37M▼ 1.1%
Stocks30/36€4.48M€4.92M€5.24M€5.42M€5.37M▼ 1.1%
Goods purchased for resale34€4.48M€4.92M€5.24M€5.42M€5.37M▼ 1.1%
Amounts receivable within one year40/41€1.76M€1.81M€1.51M€1.54M€1.36M▼ 11.8%
Trade receivables40€1.73M€1.79M€1.36M€1.18M€1.32M▲ 11.4%
Other amounts receivable41€27k€17k€158k€361k€44k▼ 87.8%
Current investments50/53€39k€39k€434k€254k€396k▲ 55.8%
Other investments51/53€39k€39k€434k€254k€396k▲ 55.8%
Cash at bank and in hand54/58€1.08M€1.97M€829k€821k€1.23M▲ 49.8%
Deferred charges and accrued income490/1€37k€55k€81k€58k€67k▲ 15.2%
Equity and liabilities
Total equity and liabilities10/49€8.20M€9.47M€8.95M€8.81M€8.93M▲ 1.4%
Equity10/15€5.26M€5.37M€5.64M€5.87M€5.98M▲ 1.9%
Contributions10/11€20k€20k€20k€20k€20k=
Reserves13€5.21M€5.33M€5.61M€5.83M€5.95M▲ 1.9%
Non-distributable reserves130/1€2k€2k€2k€2k€2k=
Reserves not available under the articles1311€2k€2k€2k€2k€2k=
Tax-exempt reserves132€292k€713k€713k€608k€503k▼ 17.3%
Distributable reserves133€4.92M€4.61M€4.89M€5.22M€5.44M▲ 4.2%
Investment grants15€28k€22k€17k€12k€9k▼ 29.2%
Amounts payable17/49€2.94M€4.09M€3.30M€2.94M€2.96M▲ 0.6%
Amounts payable after more than one year17€1.33M€1.26M€1.18M€1.12M€1.10M▼ 1.9%
Financial debts170/4€231k€159k€79k€21k€0▼ 100%
Leasing and similar obligations172€59k€43k€19k€7k€0▼ 100%
Credit institutions173€171k€116k€60k€15k€0▼ 100%
Other amounts payable178/9€1.10M€1.10M€1.10M€1.10M€1.10M=
Amounts payable within one year42/48€1.60M€2.84M€2.12M€1.81M€1.85M▲ 2.2%
Current portion of amounts payable after more than one year42€103k€76k€79k€58k€21k▼ 62.9%
Financial debts43-€63k€63k€63k€19k▼ 70.0%
Other loans439-€63k€63k€63k€19k▼ 70.0%
Trade debts44€777k€862k€451k€391k€564k▲ 44.2%
Suppliers440/4€777k€862k€451k€391k€564k▲ 44.2%
Advances received on contracts in progress46€0€63k€35k€20k€32k▲ 58.3%
Taxes, remuneration and social security45€429k€410k€451k€349k€341k▼ 2.3%
Taxes450/3€254k€287k€255k€170k€182k▲ 7.6%
Remuneration and social security454/9€175k€123k€196k€179k€159k▼ 11.6%
Other amounts payable47/48€290k€1.36M€1.04M€931k€874k▼ 6.1%
Accrued charges and deferred income492/3€10k€338€5k€7k€7k▲ 10.9%
Line20212022202320242025Change
Profit (loss) for the period9904€990k€1.14M€277k€229k€112k▼ 50.9%
+ Depreciation and write-downs630€198k€184k€229k€265k€249k▼ 5.8%
Operating cash flow (approximation)€1.19M€1.32M€505k€494k€362k▼ 26.7%
Investment in fixed assets (approximation)-€-46k€-412k€-121k€-59k▲ 51.4%
Change in cash-€893k€-1.14M€-8k€409k▲ 5,243%

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

Next filing, fiscal year 2026, expected by 31-07-2027
2026
14-08
NBB filing Annual accounts filed
fiscal year 2025 · full schema · 14 days late
2025
31-12
Financial Weakest financial yearnet €112k ▼50.9%
Net result drops to €112k, the lowest in the series.
29-08
NBB filing Annual accounts filed
fiscal year 2024 · unclassified schema · 29 days late
2024
19-07
NBB filing Annual accounts filed
fiscal year 2023 · unclassified schema
2023
28-08
NBB filing Annual accounts filed
fiscal year 2022 · unclassified schema · 28 days late
2022
31-12
Financial Highest result since 2018net €1.14M ▲14.9%
Operating result €1.50M, net result €1.14M, both a record.
01-07
NBB filing Annual accounts filed
fiscal year 2021 · unclassified schema
2021
31-12
Financial Equity above €5MEq €5.26M ▲17.6%
4 profitable years in a row build equity to €5.26M.
16-07
NBB filing Annual accounts filed
fiscal year 2020 · unclassified schema
2020
30-09
NBB filing Annual accounts filed
fiscal year 2019 · full schema · 61 days late
2019
05-09
NBB filing Annual accounts filed
fiscal year 2018 · full schema · 36 days late
2018
20-08
NBB filing Annual accounts filed
fiscal year 2017 · full schema · 20 days late
2017
31-08
NBB filing Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts

We know of 8 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
8 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, Bertrix · 2 establishment units since 1977
seat establishment All 2 establishment units on the map
Ground area
2.7 ha
Building footprint
611 m²
Volume, LiDAR
3,162 m³
2 parcels, Wallonia · tallest building 20.7 m, ±2 floors. Linked by address, not a title deed.
2 companies at this address See who is registered here
2 establishment units
COMARDEN
Rue des Corettes 47, 6880 BertrixNACE 5153104
since 19772.013.622.901
COMARDEN
Rue des Pieds d'Alouette(NN) 6, 5100 NamurManufacture of basic metals
since 20082.170.303.734
2 parcels
Wallonia 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
84009B0254/00C000 Wallonia 1.6 ha 1 · 171 m² 9.5 m · 2 fl.
92095B0209/00T005 Wallonia 1.0 ha 1 · 439 m² 20.7 m · 1 fl.
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Similar companies · same sector, comparable size

Of 1,804 companies in sector 46831 we hold annual accounts for 1,397. 662 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
Founded13-05-1977
Fiscal year end31-12
Activities, NACEBEL 2025
46831Wholesale of construction materials, general range
47521Retail sale of hardware, building materials, paint and glass (general range)
49410Freight transport by road

Scores and ratios are computed by Checked and are not a credit decision.