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CARI

Active
Non-profit associationfounded 1983active for 43 yearsCroix du Sud 1, 1348 Ottignies-Louvain-la-Neuve, BelgiumKBO/BCE: BE 0424.644.620
Summary

CARI has been active since 1983 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €288,598 and a net result of €13,081. Equity is shrinking by about 4.7% per year across the filed financial years. Its solvency ranks better than 64% of 241 sector peers (NACE 72, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).

Overview

Activity
Other research and development on natural sciences
NACE 72109
#2 oldest company in Walloon Brabant, Research and development sector1 site
Size
€415,816total assets 2025
Staff
8.5 FTE
Equity
€288,598
Surplus
€13,081
Financial health
95 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
< 0.1%
Structure
Board
4 members
Accounts 42 days early1 of 19 deeds read
Why 95raises riskSize: 8.5 FTE, total assets €415,816lowers riskLegal form: non-profit associationLiquidity: current ratio 3.02, cash €277,859Equity €288,598 (69.4% of total assets)Show the evidence

Checked score

Score 2025
95 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 60% of its sector peers (NACE 72, micro)
Financial strength · tick = 2024
Strong
Solvency 94-1
equity 69.4% of total assets
Liquidity 90=
short-term debt 26.6% · cash 66.8%
Profitability 73+6
return on assets 3.1%
Bankruptcy probability, 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (936 companies, NACE 72, micro)
Last 24 months 11-2024: < 0.1% 12-2024: < 0.1%● unchanged vs 11-2024 01-2025: < 0.1%● unchanged vs 12-2024 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025highest value 07-2025: < 0.1%● unchanged vs 06-2025 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: < 0.1%● unchanged vs 06-2026lowest value 08-2026: < 0.1%● unchanged vs 07-2026lowest value 09-2026: < 0.1%● unchanged vs 08-2026lowest value 10-2026: < 0.1%● unchanged vs 09-2026lowest value
Credit of up to €25,000 on 30-day terms is acceptable
Liquidity ample (current ratio 3.02, compared with 3.01 in 2024; short-term debt: 26.6% and cash: 66.8% of total assets), and 30.6% of the assets are financed with debt.
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 (NACE 72, micro): better than 61% on solvency, 77% on liquidity, 47% on profitability and 52% on growth.

The bankruptcy probability was computed on 08-10-2026 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).

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Signals

Five signals.
−lowers risk+raises risk○neutral
lowers risk · Legal form: non-profit association
KBO
lowers risk · Liquidity: current ratio 3.02, cash €277,859
NBB · annual accounts
lowers risk · Equity €288,598 (69.4% of total assets)
NBB · annual accounts
raises risk · Size: 8.5 FTE, total assets €415,816
The company's size counts in the probability; how much depends on the rest of its profile.
NBB · annual accounts
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 19-06-2026, 42 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
42 days early
2024
42 days early
2023
48 days early
2022
55 days early
2021
72 days early
2020
11 days early
2019
18 days early
← 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 41 days before the deadline; the sector median (NACE 72) for financial year 2024 is 13 days before the deadline, and 32% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 14 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
09-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Resignations: Yves Amand, Tanguy Marcotty and…Reappointment: Jean-Robert Deliège (director) ·…
  2. Annual accounts filedfinancial year 2025 · full…
  3. Back to profitnet €13,081

Key points

  • Positive: Oldest company in Walloon Brabant, Research and development…in the Checked rankings #2 View
  • Board changedlatest change 18-04-2026 · 4 in office 4 joined · 3 left View
  • Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View

By topic

Financials

Financial year
2025
Total assets
€415,816
Profit
€13,081
Solvency
69.4%
Total assets▲ 3.3%
Net result
20182025
Go to Financials

Board & ownership

Board
4 members
  • Emmanuel HaubrugeDirector
  • Frédérick BierlierDirector
  • Jean-Robert DeliègeDirector
  • Pierre VanderdonckDirector
Go to Board & ownership

Timeline

Events
15
Since
2016
Next accounts
by 31-07-2027
  1. 19-06-2025Annual accounts filed
  2. 13-06-2024Annual accounts filed
  3. 31-12-2023Weakest financial year
Go to Timeline

Company details

Sites
1
Legal form
Non-profit association
Activity
Other research and development on natural sciencesNACE 72109
Founded
24-06-1983
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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