CARGLASS
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 11-06-2026 PDF all 38 filings
Turnover
€417.9m▲ 4.9%
2024 · €398.3m
EBIT margin
7.6%▼ 1.2pp
2024 · 8.8%
Net result
€51.6m▼ 97.5%
2024 · €2.05bn
Working capital
€165.3m▲ 48.5%
2024 · €111.3m
In the rankings
#1 employer in Belgium, Repair of computers and personal goods sector#1 company by total assets in Limburg, Other services sector#1 company by equity in Limburg, Other services sector
Multi-year overview
2018 to 2025, 7 financial yearsTurnover
€417.9m
▲ 4.9%
2025
20182025
Operating result
€31.9m
▼ 9.3%
2025
20182025
Net result
€51.6m
▼ 97.5%
2025
highest quarter of the sector
20182025
EBIT margin
7.6%
▼ 1.2pp
2025
20182025
Equity
€476.4m
▲ 12.2%
2025
highest quarter of the sector
20182025
Total assets
€583.4m
▲ 8.4%
2025
highest quarter of the sector
20182025
Debt
€97.9m
▼ 8.4%
2025
20182025
Working capital
€165.3m
▲ 48.5%
2025
highest quarter of the sector
20182025
Solvency
81.7%
▲ 2.8pp
2025
highest quarter of the sector
20182025
Current ratio
2.72
▲ 0.66
2025
highest quarter of the sector
20182025
Return on assets (ROA)
8.8%
▼ 371.4pp
2025
middle half of the sector
20182025
Staff (FTE)
775
▲ 6.4%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018202020212022202320242025
Turnover€243.3m-€215.9m-€263.5m▲ 22.0%€295.9m▲ 12.3%€351.3m▲ 18.7%€398.3m▲ 13.4%€417.9m▲ 4.9%
Operating result€7.4m-€1.1m-€16.1m▲ 14×€10.1m▼ 37.4%€19.9m▲ 97.8%€35.1m▲ 76.4%€31.9m▼ 9.3%
Net result€5.4m--€19.0mbelow the sector's middle half-€14.7mabove the sector's middle half€698.5mabove the sector's middle half▲ 47×€276.9mabove the sector's middle half▼ 60.4%€2,047.4mabove the sector's middle half▲ 639%€51.6mabove the sector's middle half▼ 97.5%
EBIT margin3.0%-0.5%-6.1%▲ 5.6pp3.4%▼ 2.7pp5.7%▲ 2.3pp8.8%▲ 3.2pp7.6%▼ 1.2pp
Equity€246.7m-€981.5mabove the sector's middle half-€996.2mabove the sector's middle half▲ 1.5%€1,694.7mabove the sector's middle half▲ 70.1%€380.5mabove the sector's middle half▼ 77.5%€424.8mabove the sector's middle half▲ 11.6%€476.4mabove the sector's middle half▲ 12.2%
Total assets€435.3m-€1,096.7mabove the sector's middle half-€1,105.0mabove the sector's middle half▲ 0.8%€1,774.3mabove the sector's middle half▲ 60.6%€779.5mabove the sector's middle half▼ 56.1%€538.4mabove the sector's middle half▼ 30.9%€583.4mabove the sector's middle half▲ 8.4%
Debt€188.2m-€115.2m-€108.7m▼ 5.6%€72.2m▼ 33.6%€395.0m▲ 447%€106.9m▼ 72.9%€97.9m▼ 8.4%
Working capital€23.2m-€691.2mabove the sector's middle half-€706.9mabove the sector's middle half▲ 2.3%€1,380.8mabove the sector's middle half▲ 95.3%€64.1mabove the sector's middle half▼ 95.4%€111.3mabove the sector's middle half▲ 73.6%€165.3mabove the sector's middle half▲ 48.5%
Solvency56.7%-89.5%above the sector's middle half-90.2%above the sector's middle half▲ 0.7pp95.5%above the sector's middle half▲ 5.4pp48.8%within the sector's middle half▼ 46.7pp78.9%above the sector's middle half▲ 30.1pp81.7%above the sector's middle half▲ 2.8pp
Current ratio1.41-10.52above the sector's middle half-10.92above the sector's middle half▲ 0.4020.58above the sector's middle half▲ 9.661.16within the sector's middle half▼ 19.422.06within the sector's middle half▲ 0.892.72above the sector's middle half▲ 0.66
Return on assets (ROA)1.2%--1.7%below the sector's middle half-1.3%within the sector's middle half▲ 3.1pp39.4%above the sector's middle half▲ 38.0pp35.5%above the sector's middle half▼ 3.8pp380.3%above the sector's middle half▲ 344.7pp8.8%within the sector's middle half▼ 371.4pp
Staff (FTE)687.3-683.2above the sector's middle half-637.3above the sector's middle half▼ 6.7%667.2above the sector's middle half▲ 4.7%665.4above the sector's middle half▼ 0.3%728.2above the sector's middle half▲ 9.4%775above the sector's middle half▲ 6.4%
above
within
below
The sector band is the middle half of the companies in Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 9% lower than in 2024.
Large changes and their cause
- 2025 Net result -97% on 2024. Merger absorbing Autoglass Center Noord-Limburg, Official Gazette 14-05-2024, in the previous financial year. That operation now counts for a full year for the first time. Merger absorbing Autoglass Center, effective 09-02-2024, in the previous financial year. That operation now counts for a full year for the first time.
- 2024 Net result +639% on 2023. Merger absorbing Autoglass Center Noord-Limburg, Official Gazette 14-05-2024. Merger absorbing Autoglass Center, effective 09-02-2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €583.4m
Fixed assets
€321.7m =
Current assets
€261.7m ▲ 20.7%
Equity and liabilities €583.4m
Equity
€476.4m ▲ 12.2%
Provisions
€9.0m ▲ 34.4%
Debt
€97.9m ▼ 8.4%
Debt's share of the balance-sheet total falls from 19.9% to 16.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€37.0m▼
2024 · €41.9m
Cash flow
€56.7m▼
2024 · €2.05bn
Quick ratio
1.99▲
2024 · 1.41
Debt to equity
0.21▼
2024 · 0.25
ROE
10.8%▼
2024 · 482.0%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€96.4m▼
2024 · €105.4m
Debt > 1 year
€1.6m▲
2024 · €1.5m
Income taxes
€10.3m▼
2024 · €17.8m
Customer credit
31 days▼
2024 · 38 days
Supplier credit
78 days▲
2024 · 77 days
Staff costs
€64.8m▲
2024 · €59.6m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 658 | 695 | 707 | 782 | 815 |
| full-time | 543 | 585 | 594 | 666 | 672 |
| part-time | 115 | 110 | 113 | 116 | 143 |
| in full-time equivalents | 628.6 | 667.2 | 679 | 753.8 | 780.4 |
| Average over the year, in full-time equivalents | 637.3 | 664.5 | 665.4 | 728.2 | 775 |
| On a permanent contract | 658 | 689 | 695 | 778 | 810 |
| Joined | 54 | 113 | 82 | 136 | 119 |
| Left | 92 | 76 | 69 | 61 | 86 |
| Agency workers, average number | 57.1 | 53.9 | 76.1 | 105.1 | 72.3 |
| Training hours | 10,554 | 14,797 | 12,432 | 20,345 | 30,524 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2.8m | €2.2m | €2.4m | €5.7m | €3.6m |
| Intangible fixed assets | €2.1m | €1.9m | €2.0m | €2.2m | €1.5m |
| Financial fixed assets | - | - | €955,885 | - | - |
| Depreciation and write-downs of the year | €6.8m | €7.9m | €6.4m | €6.8m | €5.1m |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €86,000 | €92,293 | €82,389 | €80,000 | €82,864 |
| Other work by the auditor | €23,000 | - | - | €15,000 | - |
| Work by persons linked to the auditor | €22,144 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2025 · 8 entries · €372,586 awarded · €372,586 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €111,033 | €111,033 |
| 2024 | 2 | €79,020 | €79,020 |
| 2023 | 2 | €101,093 | €101,093 |
| 2022 | 2 | €81,440 | €81,440 |
Annual accounts
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €267.3m | €300.5m | €356.3m | €406.0m | €426.6m | ▲ 5.1% |
| Turnover70 | €243.3m | €215.9m | €263.5m | €295.9m | €351.3m | €398.3m | €417.9m | ▲ 4.9% |
| Other operating income74 | - | - | €3.6m | €4.3m | €4.7m | €7.6m | €8.5m | ▲ 11.2% |
| Non-recurring operating income76A | - | - | €0.2m | €0.2m | €0.2m | €0.1m | €0.2m | ▲ 51.7% |
| Operating charges60/66A | - | - | €251.2m | €290.4m | €336.4m | €370.9m | €394.7m | ▲ 6.4% |
| Goods for resale, raw materials and consumables60 | - | - | €142.2m | €165.8m | €191.9m | €218.4m | €233.3m | ▲ 6.8% |
| Purchases600/8 | - | - | €146.2m | €183.8m | €183.4m | €235.7m | €235.2m | ▼ 0.2% |
| Change in stocks: decrease (increase)609 | - | - | -€4.0m | -€18.0m | €8.5m | -€17.3m | -€1.9m | ▲ 88.9% |
| Services and other goods61 | - | - | €54.4m | €60.6m | €83.8m | €82.7m | €89.5m | ▲ 8.2% |
| Remuneration, social security and pensions62 | - | - | €47.3m | €48.5m | €56.7m | €59.6m | €64.8m | ▲ 8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6.1m | €7.4m | €6.8m | €7.9m | €6.4m | €6.8m | €5.1m | ▼ 24.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | -€0.1m | €0.04m | €0.9m | €0.4m | -€0.4m | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €0.06m | €7.3m | -€3.4m | €2.7m | €2.3m | ▼ 15.9% |
| Other operating charges640/8 | - | - | €0.2m | €0.2m | €0.1m | €0.2m | €0.06m | ▼ 67.8% |
| Non-recurring operating charges66A | - | - | €0.3m | €0.02m | €0.01m | - | - | - |
| Operating profit (loss)9901 | €7.4m | €1.1m | €16.1m | €10.1m | €19.9m | €35.1m | €31.9m | ▼ 9.3% |
| Financial income75/76B | - | - | €34.2m | €699.7m | €282.3m | €2,030.6m | €30.6m | ▼ 98.5% |
| Recurring financial income75 | €3.6m | €9.0m | €9.2m | €699.7m | €282.3m | €2,030.6m | €30.6m | ▼ 98.5% |
| Income from financial fixed assets750 | - | - | - | €674.7m | €210.9m | €2,003.1m | €28.3m | ▼ 98.6% |
| Income from current assets751 | - | - | €9.2m | €24.8m | €71.3m | €27.1m | €1.9m | ▼ 92.8% |
| Other financial income752/9 | - | - | €0.04m | €0.1m | €0.1m | €0.3m | €0.4m | ▲ 6.9% |
| Non-recurring financial income76B | - | - | €25.0m | - | - | - | - | - |
| Financial charges65/66B | - | - | €29.2m | €0.8m | €0.3m | €0.5m | €0.6m | ▲ 10.5% |
| Recurring financial charges65 | €4.6m | €1.9m | €2.2m | €0.8m | €0.3m | €0.5m | €0.6m | ▲ 10.5% |
| Debt charges650 | €4.4m | €1.7m | €1.8m | €0.4m | €0.06m | €0.09m | €0.1m | ▲ 37.8% |
| Other financial charges652/9 | - | - | €0.4m | €0.4m | €0.3m | €0.4m | €0.4m | ▲ 4.4% |
| Non-recurring financial charges66B | - | - | €27.0m | - | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €6.5m | -€16.7m | €21.1m | €709.0m | €301.9m | €2,065.2m | €61.9m | ▼ 97.0% |
| Income taxes67/77 | €1.1m | €2.3m | €6.4m | €10.5m | €24.9m | €17.8m | €10.3m | ▼ 42.3% |
| Taxes670/3 | - | - | €6.4m | €10.5m | €25.1m | €17.9m | €10.3m | ▼ 42.3% |
| Tax adjustments and reversals of tax provisions77 | - | - | €0.07m | - | €0.2m | €0.07m | €0.04m | ▼ 44.0% |
| Profit (loss) for the period9904 | €5.4m | -€19.0m | €14.7m | €698.5m | €276.9m | €2,047.4m | €51.6m | ▼ 97.5% |
| Profit (loss) for the period to be appropriated9905 | €5.4m | -€19.0m | €14.7m | €698.5m | €276.9m | €2,047.4m | €51.6m | ▼ 97.5% |
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €435.3m | €1,096.7m | €1,105.0m | €1,774.3m | €779.5m | €538.4m | €583.4m | ▲ 8.4% |
| Fixed assets21/28 | €355.7m | €332.8m | €326.8m | €323.0m | €321.8m | €321.7m | €321.7m | = |
| Intangible fixed assets21 | €16.1m | €11.7m | €9.6m | €7.5m | €6.1m | €4.6m | €5.2m | ▲ 11.6% |
| Tangible fixed assets22/27 | €18.1m | €12.5m | €12.4m | €10.7m | €10.1m | €12.3m | €11.8m | ▼ 4.3% |
| Plant, machinery and equipment23 | - | - | €1.3m | €1.4m | €1.4m | €1.2m | €1.0m | ▼ 21.4% |
| Furniture and vehicles24 | - | - | €0.5m | €0.3m | €0.2m | €0.6m | €0.6m | ▼ 8.3% |
| Leasing and similar rights25 | - | - | €1.8m | €1.9m | €1.6m | €2.1m | €2.3m | ▲ 10.5% |
| Other tangible fixed assets26 | - | - | €8.7m | €6.7m | €6.2m | €6.8m | €7.7m | ▲ 13.4% |
| Assets under construction and advance payments27 | - | - | €0.1m | €0.5m | €0.6m | €1.7m | €0.3m | ▼ 80.2% |
| Financial fixed assets28 | €321.5m | €308.6m | €304.7m | €304.7m | €305.7m | €304.7m | €304.7m | = |
| Affiliated companies280/1 | - | - | €304.7m | €304.7m | €305.7m | €304.7m | €304.7m | = |
| Participating interests280 | - | - | €304.7m | €304.7m | €305.7m | €304.7m | €304.7m | = |
| Current assets29/58 | €79.6m | €763.9m | €778.2m | €1,451.3m | €457.6m | €216.7m | €261.7m | ▲ 20.7% |
| Amounts receivable after more than one year29 | - | - | €6.0m | €622.8m | €6.6m | €5.8m | €4.0m | ▼ 30.8% |
| Other amounts receivable291 | - | - | €6.0m | €622.8m | €6.6m | €5.8m | €4.0m | ▼ 30.8% |
| Stocks and contracts in progress3 | €37.1m | €37.5m | €41.5m | €59.4m | €51.0m | €67.8m | €70.2m | ▲ 3.4% |
| Stocks30/36 | - | - | €41.5m | €59.4m | €51.0m | €67.8m | €70.2m | ▲ 3.4% |
| Goods purchased for resale34 | - | - | €41.5m | €59.4m | €51.0m | €67.8m | €70.2m | ▲ 3.4% |
| Amounts receivable within one year40/41 | €34.9m | €716.6m | €728.3m | €765.2m | €395.7m | €139.6m | €183.4m | ▲ 31.3% |
| Trade receivables40 | - | - | €35.8m | €49.4m | €34.1m | €41.5m | €35.7m | ▼ 14.0% |
| Other amounts receivable41 | - | - | €692.5m | €715.7m | €361.7m | €98.1m | €147.7m | ▲ 50.5% |
| Current investments50/53 | - | - | - | - | - | €1.2m | €1.6m | ▲ 26.6% |
| Other investments51/53 | - | - | - | - | - | €1.2m | €1.6m | ▲ 26.6% |
| Cash at bank and in hand54/58 | €0.4m | €0.6m | €1.3m | €2.4m | €3.7m | €1.4m | €1.7m | ▲ 16.2% |
| Deferred charges and accrued income490/1 | - | - | €1.2m | €1.4m | €0.7m | €0.8m | €0.9m | ▲ 12.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €435.3m | €1,096.7m | €1,105.0m | €1,774.3m | €779.5m | €538.4m | €583.4m | ▲ 8.4% |
| Equity10/15 | €246.7m | €981.5m | €996.2m | €1,694.7m | €380.5m | €424.8m | €476.4m | ▲ 12.2% |
| Contributions10/11 | €223.2m | €223.2m | €223.2m | €223.2m | €223.2m | €223.2m | €223.2m | = |
| Capital10 | - | - | €223.2m | €223.2m | €223.2m | €223.2m | €223.2m | = |
| Issued capital100 | - | - | €223.2m | €223.2m | €223.2m | €223.2m | €223.2m | = |
| Reserves13 | €5.7m | €22.3m | €22.3m | €22.3m | €22.3m | €22.3m | €22.3m | = |
| Non-distributable reserves130/1 | - | - | €22.3m | €22.3m | €22.3m | €22.3m | €22.3m | = |
| Legal reserve130 | - | - | €22.3m | €22.3m | €22.3m | €22.3m | €22.3m | = |
| Profit (loss) carried forward14 | €17.8m | €735.9m | €750.7m | €1,449.2m | €135.0m | €179.3m | €230.9m | ▲ 28.8% |
| Provisions and deferred taxes16 | €0.4m | - | €0.06m | €7.4m | €4.0m | €6.7m | €9.0m | ▲ 34.4% |
| Provisions for liabilities and charges160/5 | - | - | €0.06m | €7.4m | €4.0m | €6.7m | €9.0m | ▲ 34.4% |
| Other liabilities and charges164/5 | - | - | €0.06m | €7.4m | €4.0m | €6.7m | €9.0m | ▲ 34.4% |
| Amounts payable17/49 | €188.2m | €115.2m | €108.7m | €72.2m | €395.0m | €106.9m | €97.9m | ▼ 8.4% |
| Amounts payable after more than one year17 | €124.9m | €37.0m | €37.0m | €1.3m | €1.3m | €1.5m | €1.6m | ▲ 5.0% |
| Financial debts170/4 | - | - | €37.0m | €1.3m | €1.3m | €1.5m | €1.6m | ▲ 5.0% |
| Leasing and similar obligations172 | - | - | €1.1m | €1.3m | €1.1m | €1.5m | €1.6m | ▲ 5.0% |
| Other loans174 | - | - | €35.9m | - | €0.2m | - | - | - |
| Amounts payable within one year42/48 | €56.4m | €72.6m | €71.3m | €70.5m | €393.5m | €105.4m | €96.4m | ▼ 8.6% |
| Current portion of amounts payable after more than one year42 | - | - | €0.6m | €0.5m | €0.6m | €0.8m | €1.0m | ▲ 23.8% |
| Financial debts43 | - | - | €15.6m | - | - | - | - | - |
| Other loans439 | - | - | €15.6m | - | - | - | - | - |
| Trade debts44 | €24.0m | €23.8m | €36.5m | €41.3m | €43.4m | €46.0m | €50.1m | ▲ 8.8% |
| Suppliers440/4 | - | - | €36.5m | €41.3m | €43.4m | €46.0m | €50.1m | ▲ 8.8% |
| Taxes, remuneration and social security45 | - | - | €18.5m | €28.5m | €49.2m | €57.9m | €44.8m | ▼ 22.7% |
| Taxes450/3 | - | - | €8.4m | €17.9m | €36.8m | €44.5m | €30.9m | ▼ 30.5% |
| Remuneration and social security454/9 | - | - | €10.0m | €10.6m | €12.4m | €13.5m | €13.9m | ▲ 3.2% |
| Other amounts payable47/48 | - | - | €0.1m | €0.2m | €300.3m | €0.7m | €0.5m | ▼ 21.4% |
| Accrued charges and deferred income492/3 | - | - | €0.4m | €0.4m | €0.2m | - | - | - |
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5.4m | -€19.0m | €14.7m | €698.5m | €276.9m | €2,047.4m | €51.6m | ▼ 97.5% |
| + Depreciation and write-downs630 | €6.1m | €7.4m | €6.8m | €7.9m | €6.4m | €6.8m | €5.1m | ▼ 24.5% |
| Operating cash flow (approximation) | €11.5m | -€11.6m | €21.5m | €706.4m | €283.4m | €2,054.2m | €56.7m | ▼ 97.2% |
| Investment in fixed assets (approximation) | - | - | -€0.7m | -€4.1m | -€5.3m | -€6.6m | -€5.1m | ▲ 22.7% |
| Change in cash | - | - | €0.7m | €1.1m | €1.3m | -€2.3m | €0.2m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 38 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 11-06-2026 | 2026-00153738 | |
| 31-12-2024 | full format | 10-06-2025 | 2025-00132931 | |
| 31-12-2023 | full format | 11-06-2024 | 2024-00124580 | |
| 31-12-2022 | full format | 13-06-2023 | 2023-00129074 | |
| 31-12-2021 | full format | 07-06-2022 | 2022-20056299 | |
| 31-12-2020 | full format | 21-06-2021 | 2021-22000237 | |
| 31-12-2019 | full format | 11-06-2020 | 2020-16400226 | |
| 31-12-2018 | full format | 10-07-2019 | 2019-31000021 | |
| 31-12-2017 | full format | 09-07-2018 | 2018-30300506 | |
| 31-12-2016 | full format | 25-06-2017 | 2017-23200310 |