Carma
ActiveSummary
Carma has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.2m and a net result of €94,416. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 78% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▲+62
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100,000 at 30 days acceptable
Liquidity ample (current ratio 6.35 against 3.09 in 2024; short-term debt: 2.3% and cash: 14.2% of total assets), and 18.3% of the assets are financed with debt.
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Signals
Four 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
81.7%
Return on assets
6.7%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 14-10-2025, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
17 d early
2023
on the day
2022
1 d early
2021
10 d early
2020
26 d late
2019
41 d 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 9 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close27-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€1.2m▲ 8.9%
2024 · €1.1m
Total assets
€1.4m▲ 6.7%
2024 · €1.3m
Net result
€94,416
2024 · -€44,741
Working capital
€176,387▲ 118%
2024 · €81,076
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-€50,113€56,127€110,026▲ 96.0%-€43,997€122,948
Net result-€54,348€51,233€72,863▲ 42.2%-€44,741€94,416
Equity€983,137▼ 5.2%€1.0m▲ 5.2%€1.1m▲ 7.0%€1.1m▼ 4.0%€1.2m▲ 8.9%
Total assets€1.3m▼ 3.5%€1.3m▼ 3.4%€1.4m▲ 8.0%€1.3m▼ 3.8%€1.4m▲ 6.7%
Debt€113,897▲ 5.3%€17,752▼ 84.4%€46,674▲ 163%€38,702▼ 17.1%€32,951▼ 14.9%
Working capital-€15,203€42,990€122,813▲ 186%€81,076▼ 34.0%€176,387▲ 118%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €122,948 after a loss of €43,997 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€1.2m ▼ 0.1%
Current assets
€209,338 ▲ 74.8%
Equity and liabilities €1.4m
Equity
€1.2m ▲ 8.9%
Provisions
€227,000 =
Debt
€32,951 ▼ 14.9%
Debt's share of the balance-sheet total falls from 2.9% to 2.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€123,844▲
2024 · -€39,807
Cash flow
€95,311▲
2024 · -€40,551
Current ratio
6.35▲
2024 · 3.09
Debt to equity
0.03▼
2024 · 0.04
ROE
8.2%▲
2024 · -4.2%
ROA
6.7%▲
2024 · -3.4%
Interest coverage
42.87▲
2024 · -891.53
Debt ≤ 1 year
€32,951▼
2024 · €38,702
Income taxes
€25,643▲
2024 · €699
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,838 | €6,960 | €6,960 | €4,190 | €895 | ▼ 78.6% |
| Other operating charges640/8 | - | €320 | €2,894 | €2,826 | €2,499 | ▼ 11.6% |
| Gross operating margin9900 | -€46,956 | €63,408 | €119,880 | -€36,981 | €126,342 | ▲ 442% |
| Operating profit (loss)9901 | -€50,113 | €56,127 | €110,026 | -€43,997 | €122,948 | ▲ 379% |
| Financial income75/76B | - | - | €0 | €0 | - | - |
| Recurring financial income75 | - | - | €0 | €0 | - | - |
| Financial charges65/66B | - | €2,831 | €650 | €45 | €2,889 | ▲ 6,370% |
| Recurring financial charges65 | €4,235 | €2,831 | €650 | €45 | €2,889 | ▲ 6,370% |
| Profit (loss) for the period before taxes9903 | -€54,348 | €53,296 | €109,376 | -€44,042 | €120,059 | ▲ 373% |
| Income taxes67/77 | - | €2,064 | €36,513 | €699 | €25,643 | ▲ 3,568% |
| Profit (loss) for the period9904 | -€54,348 | €51,233 | €72,863 | -€44,741 | €94,416 | ▲ 311% |
| Profit (loss) for the period to be appropriated9905 | -€54,348 | €51,233 | €72,863 | -€44,741 | €94,416 | ▲ 311% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.3m | €1.4m | €1.3m | €1.4m | ▲ 6.7% |
| Fixed assets21/28 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | ▼ 0.1% |
| Intangible fixed assets21 | €1,597 | €1,097 | €597 | €97 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €17,043 | €10,582 | €4,122 | €1,619 | €821 | ▼ 49.3% |
| Plant, machinery and equipment23 | - | - | - | €1,619 | €821 | ▼ 49.3% |
| Furniture and vehicles24 | - | €10,582 | €4,122 | €0 | - | - |
| Financial fixed assets28 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Current assets29/58 | €98,694 | €60,742 | €169,487 | €119,777 | €209,338 | ▲ 74.8% |
| Amounts receivable within one year40/41 | €387 | €936 | €25,767 | €824 | €5,643 | ▲ 585% |
| Trade receivables40 | - | - | €25,310 | €0 | - | - |
| Other amounts receivable41 | - | €936 | €457 | €824 | €5,643 | ▲ 585% |
| Cash at bank and in hand54/58 | €96,962 | €58,677 | €142,444 | €117,104 | €201,673 | ▲ 72.2% |
| Deferred charges and accrued income490/1 | - | €1,128 | €1,276 | €1,850 | €2,022 | ▲ 9.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.3m | €1.4m | €1.3m | €1.4m | ▲ 6.7% |
| Equity10/15 | €983,137 | €1.0m | €1.1m | €1.1m | €1.2m | ▲ 8.9% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1.0m | €1.0m | €1.1m | €1.1m | €1.1m | ▲ 4.6% |
| Non-distributable reserves130/1 | - | €18,870 | €18,870 | €0 | - | - |
| Reserves not available under the articles1311 | - | €18,870 | €18,870 | €0 | - | - |
| Tax-exempt reserves132 | - | €186 | €186 | €186 | €186 | = |
| Distributable reserves133 | - | €999,829 | €1.1m | €1.1m | €1.1m | ▲ 4.6% |
| Profit (loss) carried forward14 | -€54,348 | -€3,115 | €0 | -€44,741 | €0 | ▲ 100% |
| Provisions and deferred taxes16 | €227,000 | €227,000 | €227,000 | €227,000 | €227,000 | = |
| Provisions for liabilities and charges160/5 | - | €227,000 | €227,000 | €227,000 | €227,000 | = |
| Environmental obligations163 | - | €227,000 | - | - | - | - |
| Other liabilities and charges164/5 | - | - | €227,000 | €227,000 | €227,000 | = |
| Amounts payable17/49 | €113,897 | €17,752 | €46,674 | €38,702 | €32,951 | ▼ 14.9% |
| Amounts payable within one year42/48 | €113,897 | €17,752 | €46,674 | €38,702 | €32,951 | ▼ 14.9% |
| Trade debts44 | €3,233 | €1,878 | €2,935 | €1,485 | €2,720 | ▲ 83.1% |
| Suppliers440/4 | - | €1,878 | €2,935 | €1,485 | €2,720 | ▲ 83.1% |
| Taxes, remuneration and social security45 | - | €2,734 | €17,835 | €1,030 | €20,840 | ▲ 1,923% |
| Taxes450/3 | - | €2,734 | €17,835 | €1,030 | €20,840 | ▲ 1,923% |
| Other amounts payable47/48 | - | €13,140 | €25,904 | €36,186 | €9,390 | ▼ 74.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€54,348 | €51,233 | €72,863 | -€44,741 | €94,416 | ▲ 311% |
| + Depreciation and write-downs630 | €2,838 | €6,960 | €6,960 | €4,190 | €895 | ▼ 78.6% |
| Operating cash flow (approximation) | -€51,510 | €58,193 | €79,823 | -€40,551 | €95,311 | ▲ 335% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€1,187 | €0 | ▲ 100% |
| Change in cash | - | -€38,285 | €83,766 | -€25,340 | €84,569 | ▲ 434% |
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
2025
14-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Back to profitnet €94,416
Net result €94,416 after one loss-making year.
31-03
Financial
Liquidity doublescurrent ratio 6.35
Current ratio from 3.09 to 6.35; short-term debt falls from €38,702 to €32,951.
2024
14-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
30-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Back to profitnet €51,233
Net result €51,233 after one loss-making year.
31-03
Financial
Liquidity quadruplescurrent ratio 3.42
Current ratio from 0.87 to 3.42; short-term debt falls from €113,897 to €17,752.
31-03
Financial
Equity above €1mEq €1.0m ▲5.2%
Equity rises from €983,137 to €1.0m.
2021
21-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Weakest financial yearnet -€54,348
Net result drops to -€54,348, the lowest in the series; recovery starts the following year.
2020
26-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
Show earlier events
2019
20-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
22-01
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
11-08
State Gazette act
General meeting · Director resignation
Permanent representative · Director discharge
2016
06-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2014
16-06
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
10-06
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
28-03
State Gazette act
General meeting · Director resignation
Director discharge · Permanent representative
28-03
State Gazette act
Board meeting · Director resignation
Permanent representative · Power of attorney
29-01
State Gazette act
Board meeting · Director resignation
Director appointment · Permanent representative
03-01
State Gazette act
Board meeting · Director resignation
Director appointment · Mandate compensation
02-01
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
2013
04-07
State Gazette act
Board meeting · Director resignation
Director discharge · Director appointment
24-06
State Gazette act
General meeting · Director resignation
Director discharge · Permanent representative
2012
27-12
State Gazette act
Incorporation · Founding capital
Corporate purpose · First fiscal year
24-12
State Gazette act
Incorporation · Founding capital
Corporate purpose · Director appointment
21-12
State Gazette act
Incorporation · Founding capital
Corporate purpose · Bank account · Vincent VRONINKS
14-09
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
2011
22-09
State Gazette act
General meeting · Statutes amendment
Director resignation · Director appointment
22-07
State Gazette act
Board meeting · Director appointment
Permanent representative · Power of attorney
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Merelbeke-Melle · 1 establishment unit since 2009
Ground area
1,440 m²
Building footprint
203 m²
Volume, LiDAR
1,124 m³
Parcel 44058B0269/00E000, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CARMA
since 20092.181.119.828
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44058B0269/00E000 | Flanders | 1,440 m² | 1 · 203 m² | 7.8 m · 2 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.
Structure & network
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
This company
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Shareholding
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Ownership & control
6 board mandatesBoard mandates of this companythis company sits on their board6
4 locations
2 locations
1 location
1 location
1 location
1 location
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 26,230 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
Founded23-09-2009
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
81100Combined facilities support activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0818826389
Also
9925:BE0818826389
Registered
12-02-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.