CARDIAMIN
ActiveSummary
CARDIAMIN has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €851,500 and a net result of €173,790. Equity is growing by about 16% per year across the filed financial years. The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €851,500
- Profit
- €173,790
Why 96raises riskFigures for financial year 2025 (filed 30-10-2025)lowers riskSize: total assets €1.4mLiquidity: current ratio 3.49, cash €672,624Equity €851,500 (60.7% of total assets)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro): better than 51% on solvency, 86% on liquidity, 67% on profitability and 79% on growth.
The bankruptcy probability was computed on 12-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 19 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Highest result from 2019 to 2025net €173,790 ▲2%
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result has risen four years in a row; 2025 is 1% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 17,811 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 96.5% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of < 0.1% 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 497,468 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 17,811 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32,067 | €55,614 | €39,428 | €40,300 | €42,026 | €47,086 | €49,311 | ▲ 4.7% |
| Other operating charges640/8 | - | - | - | €8,482 | €8,521 | €8,694 | €8,043 | ▼ 7.5% |
| Gross operating margin9900 | €143,439 | €204,801 | €174,210 | €243,880 | €292,214 | €314,572 | €319,072 | ▲ 1.4% |
| Operating profit (loss)9901 | €103,233 | €77,297 | €125,048 | €195,098 | €241,666 | €258,793 | €261,718 | ▲ 1.1% |
| Financial income75/76B | - | - | - | €1,090 | €476 | €407 | €493 | ▲ 21.3% |
| Recurring financial income75 | €0 | €2,393 | €3,939 | €1,090 | €476 | €407 | €493 | ▲ 21.3% |
| Financial charges65/66B | - | - | - | €3,973 | €3,382 | €3,334 | €4,455 | ▲ 33.6% |
| Recurring financial charges65 | €7,682 | €9,626 | €4,848 | €3,973 | €3,382 | €3,334 | €4,455 | ▲ 33.6% |
| Profit (loss) for the period before taxes9903 | €95,552 | €70,063 | €124,138 | €192,216 | €238,761 | €255,865 | €257,756 | ▲ 0.7% |
| Income taxes67/77 | €29,686 | €12,062 | €41,571 | €63,569 | €79,422 | €85,525 | €83,966 | ▼ 1.8% |
| Profit (loss) for the period9904 | €65,866 | €58,001 | €82,567 | €128,647 | €159,339 | €170,340 | €173,790 | ▲ 2.0% |
| Profit (loss) for the period to be appropriated9905 | €65,866 | €58,001 | €82,567 | €128,647 | €159,339 | €170,340 | €173,790 | ▲ 2.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.8m | €0.8m | €0.9m | €0.9m | €1.0m | €1.1m | €1.4m | ▲ 32.9% |
| Fixed assets21/28 | €0.2m | €0.5m | €0.4m | €0.4m | €0.4m | €0.3m | €0.5m | ▲ 56.8% |
| Tangible fixed assets22/27 | €0.2m | €0.5m | €0.4m | €0.4m | €0.4m | €0.3m | €0.5m | ▲ 55.4% |
| Land and buildings22 | - | - | - | €0.4m | €0.4m | €0.3m | €0.4m | ▲ 28.8% |
| Furniture and vehicles24 | - | - | - | €0.009m | €0.02m | €0.01m | €0.03m | ▲ 153% |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0.07m | - |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.006m | ▲ 867% |
| Current assets29/58 | €0.6m | €0.4m | €0.5m | €0.5m | €0.6m | €0.7m | €0.9m | ▲ 21.7% |
| Amounts receivable within one year40/41 | €0.09m | €0.09m | €0.03m | €0.006m | €0.007m | €0.008m | €0.2m | ▲ 1,895% |
| Trade receivables40 | - | - | - | - | - | - | €0.004m | - |
| Other amounts receivable41 | - | - | - | €0.006m | €0.007m | €0.008m | €0.1m | ▲ 1,840% |
| Cash at bank and in hand54/58 | €0.5m | €0.2m | €0.4m | €0.5m | €0.6m | €0.7m | €0.7m | ▲ 0.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.07m | €0.04m | €0.05m | €0.05m | ▲ 14.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.8m | €0.8m | €0.9m | €0.9m | €1.0m | €1.1m | €1.4m | ▲ 32.9% |
| Equity10/15 | €0.4m | €0.4m | €0.4m | €0.5m | €0.5m | €0.7m | €0.9m | ▲ 25.6% |
| Contributions10/11 | €0.01m | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.4m | €0.4m | €0.4m | €0.4m | €0.5m | €0.7m | €0.8m | ▲ 26.1% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | - | - |
| Distributable reserves133 | - | - | - | €0.4m | €0.5m | €0.7m | €0.8m | ▲ 26.5% |
| Profit (loss) carried forward14 | €368 | €57 | €124 | €131 | €140 | €140 | €140 | = |
| Amounts payable17/49 | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | €0.4m | €0.6m | ▲ 45.8% |
| Amounts payable after more than one year17 | €0.3m | €0.4m | €0.3m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 44.1% |
| Financial debts170/4 | - | - | - | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 44.1% |
| Amounts payable within one year42/48 | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 48.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.04m | €0.04m | €0.04m | €0.07m | ▲ 69.5% |
| Trade debts44 | €0.05m | €0.007m | €0.001m | €0.003m | €0.003m | €0.003m | €0.2m | ▲ 5,917% |
| Suppliers440/4 | - | - | - | €0.003m | €0.003m | €0.003m | €0.2m | ▲ 5,917% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.02m | €0.009m | €0.003m | ▼ 67.2% |
| Taxes450/3 | - | - | - | €0.01m | €0.02m | €0.009m | €0.003m | ▼ 67.2% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.2m | €0.1m | €0.02m | ▼ 80.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.002m | €0.002m | €0.002m | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €65,866 | €58,001 | €82,567 | €128,647 | €159,339 | €170,340 | €173,790 | ▲ 2.0% |
| + Depreciation and write-downs630 | €32,067 | €55,614 | €39,428 | €40,300 | €42,026 | €47,086 | €49,311 | ▲ 4.7% |
| Operating cash flow (approximation) | €97,933 | €113,615 | €121,995 | €168,947 | €201,365 | €217,426 | €223,101 | ▲ 2.6% |
| Investment in fixed assets (approximation) | - | -€353,929 | -€6,660 | -€8,728 | -€21,693 | -€7,373 | -€239,733 | ▼ 3,151% |
| Change in cash | - | -€260,311 | €145,050 | €86,430 | €122,813 | €93,935 | €4,710 | ▼ 95.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-03-2025 | micro format | 30-10-2025 | 2025-00554238 |
| 31-03-2024 | micro format | 30-10-2024 | 2024-00530751 |
| 31-03-2023 | micro format | 31-10-2023 | 2023-00508435 |
| 31-03-2022 | micro format | 27-10-2022 | 2022-20481982 |
| 31-03-2021 | full format | 16-11-2021 | 2021-77500005 |
| 31-03-2020 | full format | 30-11-2020 | 2020-73900100 |
| 31-03-2019 | full format | 31-01-2020 | 2020-04500401 |
| 31-03-2018 | full format | 23-11-2018 | 2018-73000456 |
| 31-03-2017 | full format | 23-11-2017 | 2017-70400593 |
| 31-03-2016 | full format | 30-11-2016 | 2016-69300242 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
About the unread acts
We know of 3 Belgian Official Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 12 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Legal Entity Identifier
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25763I0381/00A002 | Wallonia | 1,259 m² | 1 · 236 m² | 8.6 m · 2 |