CAREX
ActiveSummary
CAREX has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €155,205 and a net result of €26,104. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 92% of 9537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability67▼-24
Solvency100=
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity ample (current ratio 11.65 against 17.22 in 2024; short-term debt: 8.6% and cash: 9% of total assets), and 8.6% of the assets are financed with debt.
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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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← 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
91.4%
Return on assets
15.4%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €155,205
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
1 d early
2023
33 d early
2022
41 d early
2021
44 d early
2020
38 d early
2019
14 d late
← 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 16 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€155,205▲ 6.8%
2024 · €145,347
Total assets
€169,776▲ 10.0%
2024 · €154,301
Net result
€26,104▼ 6.6%
2024 · €27,948
Working capital
€155,176▲ 6.9%
2024 · €145,217
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
Line20212022202320242025
Operating result€37,254▲ 4.7%€30,988▼ 16.8%€32,518▲ 4.9%€40,817▲ 25.5%€36,535▼ 10.5%
Net result-€58,207€15,421€32,613▲ 111%€27,948▼ 14.3%€26,104▼ 6.6%
Equity€123,733▼ 32.0%€104,154▼ 15.8%€136,767▲ 31.3%€145,347▲ 6.3%€155,205▲ 6.8%
Total assets€137,967▼ 28.1%€110,040▼ 20.2%€142,688▲ 29.7%€154,301▲ 8.1%€169,776▲ 10.0%
Debt€14,235▲ 45.0%€5,886▼ 58.7%€5,921▲ 0.6%€8,954▲ 51.2%€14,571▲ 62.7%
Working capital€104,755▼ 31.2%€91,502▼ 12.7%€130,210▲ 42.3%€145,217▲ 11.5%€155,176▲ 6.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 10% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €169,776
Fixed assets
€28 ▼ 78.2%
Current assets
€169,748 ▲ 10.1%
Equity and liabilities €169,776
Equity
€155,205 ▲ 6.8%
Debt
€14,571 ▲ 62.7%
Debt's share of the balance-sheet total rises from 5.8% to 8.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€36,636▼
2024 · €47,244
Cash flow
€26,206▼
2024 · €34,375
Current ratio
11.65▼
2024 · 17.22
Debt to equity
0.09▲
2024 · 0.06
ROE
16.8%▼
2024 · 19.2%
ROA
15.4%▼
2024 · 18.1%
Interest coverage
3.49▼
2024 · 8.94
Debt ≤ 1 year
€14,571▲
2024 · €8,954
Income taxes
€16,784▲
2024 · €11,830
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 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% | 1.6% |
| 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 74% 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 31,324 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 | €10,609 | €6,326 | €6,399 | €6,427 | €101 | ▼ 98.4% |
| Other operating charges640/8 | €1,627 | €1,479 | €1,796 | €1,921 | €1,181 | ▼ 38.5% |
| Gross operating margin9900 | €49,489 | €38,793 | €40,714 | €49,165 | €37,817 | ▼ 23.1% |
| Operating profit (loss)9901 | €37,254 | €30,988 | €32,518 | €40,817 | €36,535 | ▼ 10.5% |
| Financial income75/76B | €795 | €3,299 | €2,256 | €4,245 | €16,851 | ▲ 297% |
| Recurring financial income75 | €795 | €3,299 | €2,256 | €4,245 | €16,851 | ▲ 297% |
| Financial charges65/66B | €86,498 | €8,807 | -€9,446 | €5,284 | €10,498 | ▲ 98.7% |
| Recurring financial charges65 | €86,498 | €8,807 | -€9,446 | €5,284 | €10,498 | ▲ 98.7% |
| Profit (loss) for the period before taxes9903 | -€48,449 | €25,481 | €44,220 | €39,778 | €42,888 | ▲ 7.8% |
| Income taxes67/77 | €9,758 | €10,059 | €11,607 | €11,830 | €16,784 | ▲ 41.9% |
| Profit (loss) for the period9904 | -€58,207 | €15,421 | €32,613 | €27,948 | €26,104 | ▼ 6.6% |
| Profit (loss) for the period to be appropriated9905 | -€58,207 | €15,421 | €32,613 | €27,948 | €26,104 | ▼ 6.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €137,967 | €110,040 | €142,688 | €154,301 | €169,776 | ▲ 10.0% |
| Formation expenses20 | - | - | €0 | €0 | - | - |
| Fixed assets21/28 | €18,978 | €12,652 | €6,557 | €130 | €28 | ▼ 78.2% |
| Tangible fixed assets22/27 | €18,978 | €12,652 | €6,557 | €130 | €28 | ▼ 78.2% |
| Land and buildings22 | €18,978 | €12,652 | €6,326 | €0 | - | - |
| Furniture and vehicles24 | - | - | €231 | €130 | €28 | ▼ 78.2% |
| Current assets29/58 | €118,990 | €97,388 | €136,131 | €154,171 | €169,748 | ▲ 10.1% |
| Amounts receivable within one year40/41 | €11,444 | €10,850 | €11,219 | €14,366 | €12,910 | ▼ 10.1% |
| Trade receivables40 | €9,656 | €10,842 | €11,219 | €11,853 | €10,900 | ▼ 8.0% |
| Other amounts receivable41 | €1,788 | €9 | - | €2,512 | €2,010 | ▼ 20.0% |
| Current investments50/53 | €96,670 | €74,830 | €110,463 | €130,663 | €140,080 | ▲ 7.2% |
| Cash at bank and in hand54/58 | €10,343 | €11,487 | €13,870 | €8,616 | €15,323 | ▲ 77.8% |
| Deferred charges and accrued income490/1 | €533 | €221 | €578 | €526 | €1,434 | ▲ 173% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €137,967 | €110,040 | €142,688 | €154,301 | €169,776 | ▲ 10.0% |
| Equity10/15 | €123,733 | €104,154 | €136,767 | €145,347 | €155,205 | ▲ 6.8% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €109,415 | €89,837 | €122,449 | €131,030 | €140,887 | ▲ 7.5% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | €21,798 | €21,798 | €21,798 | €21,798 | €21,798 | = |
| Distributable reserves133 | €85,757 | €66,179 | €98,792 | €107,372 | €117,229 | ▲ 9.2% |
| Profit (loss) carried forward14 | €1,917 | €1,917 | €1,917 | €1,917 | €1,917 | = |
| Amounts payable17/49 | €14,235 | €5,886 | €5,921 | €8,954 | €14,571 | ▲ 62.7% |
| Amounts payable within one year42/48 | €14,235 | €5,886 | €5,921 | €8,954 | €14,571 | ▲ 62.7% |
| Trade debts44 | €979 | €1,745 | €1,574 | €1,082 | €1,415 | ▲ 30.7% |
| Suppliers440/4 | €979 | €1,745 | €1,574 | €1,082 | €1,415 | ▲ 30.7% |
| Taxes, remuneration and social security45 | €5,285 | €4,131 | €4,347 | €4,719 | €7,228 | ▲ 53.2% |
| Taxes450/3 | €5,285 | €4,131 | €4,347 | €4,719 | €7,228 | ▲ 53.2% |
| Other amounts payable47/48 | €7,971 | €10 | - | €3,152 | €5,929 | ▲ 88.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€58,207 | €15,421 | €32,613 | €27,948 | €26,104 | ▼ 6.6% |
| + Depreciation and write-downs630 | €10,609 | €6,326 | €6,399 | €6,427 | €101 | ▼ 98.4% |
| Operating cash flow (approximation) | -€47,599 | €21,747 | €39,012 | €34,375 | €26,206 | ▼ 23.8% |
| Investment in fixed assets (approximation) | - | €0 | -€304 | €0 | €0 | - |
| Change in cash | - | €1,144 | €2,383 | -€5,254 | €6,707 | ▲ 228% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Equity above €150,000Eq €155,205 ▲6.8%
4 profitable years in a row build equity to €155,205.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €32,613 ▲111%
Net result €32,613, the highest in the series.
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €15,421
Net result €15,421 after one loss-making year.
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€58,207
Net result drops to -€58,207, the lowest in the series; recovery starts the following year.
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
14-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 14 days late
2019
26-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Temse · 1 establishment unit since 2001
Ground area
260 m²
Building footprint
26 m²
Volume, LiDAR
56 m³
Parcel 46025B0754/00D003, Flanders · tallest building 2.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Frans Smetstraat 4, 9140 Temse
since 20012.101.409.087
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46025B0754/00D003 | Flanders | 260 m² | 1 · 26 m² | 2.6 m · 1 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.
Recognitions · licences · registrations
Legal Entity Identifier
967600MSDA2Z9FTW7Q63
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Of 11,577 companies in sector 71121 we hold annual accounts for 6,563. 5,224 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
Founded03-09-2001
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0475538342
Also
9925:BE0475538342
Registered
19-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.