Equity
€3.1m ▲ 10.1%
Carmans Blue Technology has made a profit in every financial year since 2007.
Carmans Blue Technology
Lifetime
19 annual accounts with figures on one time axis, 20 filings since 2006peak €3.6m (2025)
€3.6m▲ 324%
peak €2.3m (2025)
€2.3m▲ 37.7%
peak €3.1m (2025)
€3.1m▲ 10.1%
€6.7m▲ 0.2%
peak 0 FTE (2023)
-not published
Board6 names since 2021
4 directorsC-INVEST and 3 others
Owners3 names in the annual accounts
70%C-INVEST and 2 others
Documentsfilings and deeds
30-04-2026on the last day
2025abbreviated format
Gross margin from €848,967 to €3.6mResult from €1.6m to €2.3mDividend €1.2m1 establishment registeredCash from €2.7m to €3.6m
Key points
from the 2025 annual accountsResult
€2.3m ▲ 37.7%
The result rose in 2025 from €1.6m to €2.3m.
Investments
€264,777 0.3 × depreciation
Green is investment, beige is depreciation.
Filings
20 annual accounts since 2006
The last five annual accounts were filed 0 to 1 days before the end of the period.
Board
5 joined
New directors. Latest change 17-03-2026 · 5 in office.
Position in the sector
€2.3m
Higher net result than 95% of companies in remediation. Sector median €78,913 · 37 companies.
Checked score
97
Excellent
Financially stronger than 75% of all companies
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 16 companies (NACE 39, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: 0.1%▲ +0.1 percentage points vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.2%▲ +0.1 percentage points vs 04-2025highest value
06-2025: < 0.1%▼ -0.2 percentage points vs 05-2025
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%▲ +0.1 percentage points vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: < 0.1%▼ -0.1 percentage points vs 05-2026lowest value
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 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Sector: Remediation activities and other waste management service activities (NACE 39)
lowers risk
Size: total assets €9.8m
Figures for financial year 2025 (filed on 01-05-2026)
Founded in 2004
Calculation
The band follows from the bankruptcy probability. 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 (all companies). It does better than 46% of them on solvency, 85% on liquidity, 98% on profitability and 69% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,579 companies had the same profile as Carmans Blue Technology has now. Each dot stands for 4 companies, two years later.
96.6%
were still trading
3.2%
stopped another way
0.1%
went bankrupt
That fits the bankruptcy probability of Carmans Blue Technology itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,579 companies, not a prediction for Carmans Blue Technology. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €300,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.23 (1.09 in 2024), below the usual 1.5. Short-term debt is 68.1% and cash 37.1% of total assets. 68.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
1 day early
2023
on the day
2022
1 day early
2021
1 day early
2020
2 days early
2019
1 day early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 1 day before the deadline. In the sector (NACE 39), the median for financial year 2024 was 9 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 29 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end09-11-2026 today30-04-2027 deadline
Board and ownership
- C-INVEST 70%score 92equity €856,730 (2026) · 31-03-2026 annual accounts of C-INVEST
- S. CARMANS 10%score 94equity €713,140 (2025) · 30-09-2025 annual accounts of S. CARMANS
- YLTECH 5%score 96equity €516,906 (2025) · 2025 annual accounts of YLTECH
Shares in 1 company, Grondrecyclage Antwerpen
Board & ownershipRecent changes
2 directors appointed, 1 resignation
Changes of role: C-INVEST, YLTECH and RUBEN RODIERS · Resignation: S. CARMANS (niet statutaire bestuurder) · Appointments: CARMANS GROUP (director) and PAULISSEN Jade (director) · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0870140478
New establishment in Antwerp
Carmans BT, Schijnpoortweg 155
4 directors reappointed
C-INVEST (managing director), S. CARMANS, YLTECH and RUBEN RODIERS · Permanent representatives: CARMANS Stefan Désiré, COX Anja, LIBERLOO Yves Gerhard Jos and RODIERS Ruben · General meeting of 11-12-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Carmans Blue Technology Lummen | €9.8m | €3.6m | 31.9% | - |
| Vlaams Bodemsaneringsfonds voor de Textielverzorging Merelbeke-Melle | €12.5m | €1.8m | 7.9% | 3 |
| Belgische Asbestverwijdering Herentals | €5.5m | €2.9m | 23.3% | 46 |
| SANTERRA Boortmeerbeek | €14.5m | €1.5m | 42.9% | 6.9 |
| Etude Traitement Pollution et Hydrocarbure Marchin | €4.0m | €2.3m | 49.3% | 23.7 |
| Verhoeve Belgium Antwerp | €8.5m | €1.0m | 8.9% | 5.6 |
| Belgarena Farciennes | €9.5m | €1.2m | 43.9% | 23 |
These companies have the same main activity as Carmans Blue Technology: remediation activities and other waste management service activities (NACE 39000). They are comparable in size and age: total assets between €4m and €15m, founded between 1994 and 2008.
Official details
Source: KBO- Status
- Active since 23-11-2004Normal situation
- Registered office
- 13 active companies are registered at this address4 started in the 12 months before. Source: KBO register, as of 8 November 2026.
- Activity
- Remediation activities and other waste management service activitiesNACE 39000and 7 others
- Establishment units
- 2.143.964.2743560 Lummen, since 10-12-2004
- 2.143.964.5713560 Lummen, since 10-12-2004and 1 other
- Financial year end
- 30 September
- Peppol
- Reachable since 29-07-2025
Annual accounts to 30-09-2025
- ≈ €6.2mestimated
- €9.8m▲ 3.2%
- ≈ 0.1 FTEestimated
- Filing
- Filed on 30-04-2026, on the last day of the filing period
Insights on Carmans Blue Technology
Carmans Blue Technology files the abbreviated format. That format states no turnover. The gross margin rose from €1.3m in 2007 to €3.6m in 2025.
The balance sheet grew most from 2009 to 2011 through fixed assets, financed with long-term debt.
C-INVEST holds 70% of the shares. In March 2026, the Official Gazette published the appointment of Carmans Group as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Carmans Blue Technology
- What is the company number of Carmans Blue Technology?
- The company number of Carmans Blue Technology is 0870.140.478. The VAT number is the same number with BE in front: BE 0870.140.478.
- Where is Carmans Blue Technology based?
- The registered office is at Kanaalstraat 14, 3560 Lummen.Company details
- What does Carmans Blue Technology do?
- According to the KBO register, the main activity is remediation activities and other waste management service activities (NACE 39000).
- What is the legal form of Carmans Blue Technology?
- Carmans Blue Technology is a public limited company (NV).
- When was Carmans Blue Technology founded?
- Carmans Blue Technology was founded on 23-11-2004.
- Is Carmans Blue Technology still active?
- Yes, Carmans Blue Technology is an active enterprise in the KBO register.
- What is the turnover of Carmans Blue Technology?
- The turnover in financial year 2025 is ≈ €6.2m. This figure is estimated from the gross margin of €3.6m and 1,585 comparable companies of the same size. It probably lies between €4.2m and €10.0m. It is a rough estimate.Financials
- Is Carmans Blue Technology profitable?
- In financial year 2025, Carmans Blue Technology made a profit of €2.3m.
- Where can I find the annual accounts of Carmans Blue Technology?
- Carmans Blue Technology filed 20 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Carmans Blue Technology due?
- Carmans Blue Technology must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
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