CARMANS E&L
ActiveSummary
CARMANS E&L has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €108,375. Equity is growing by ~15.9% per year across the filed fiscal years. Its solvency ranks better than 36% of 10485 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+2
Solvency50▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60,000 at 30 days acceptable
Liquidity tight (current ratio 1.08 against 1.11 in 2024; short-term debt: 62.6% and cash: 3.9% of total assets), and 74.7% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
25.3%
Return on assets
2.5%
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 22-10-2025, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
35 d early
2023
34 d early
2022
35 d early
2021
10 d early
2020
29 d early
2019
2 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 22 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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, abbreviated schema
In the rankings
#6 fastest grower in Beringen, Wholesale and retail trade sector#9 employer in Beringen, Wholesale and retail trade sector
Equity
€1.1m▲ 11.0%
2024 · €985,923
Total assets
€4.3m▲ 5.0%
2024 · €4.1m
Net result
€108,375▲ 305%
2024 · €26,777
Working capital
€226,915▼ 13.5%
2024 · €262,284
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€284,676▼ 4.8%€425,456▲ 49.5%€214,129▼ 49.7%€140,847▼ 34.2%€202,453▲ 43.7%
Net result€183,476above the sector's middle half▼ 4.5%€281,396above the sector's middle half▲ 53.4%€139,424above the sector's middle half▼ 50.5%€26,777within the sector's middle half▼ 80.8%€108,375above the sector's middle half▲ 305%
Equity€538,325within the sector's middle half▲ 11.0%€819,721above the sector's middle half▲ 52.3%€959,145above the sector's middle half▲ 17.0%€985,923above the sector's middle half▲ 2.8%€1.1mabove the sector's middle half▲ 11.0%
Total assets€2.7mabove the sector's middle half▲ 14.3%€3.8mabove the sector's middle half▲ 40.6%€4.0mabove the sector's middle half▲ 4.6%€4.1mabove the sector's middle half▲ 3.4%€4.3mabove the sector's middle half▲ 5.0%
Debt€2.2m▲ 15.1%€3.0m▲ 37.8%€3.0m▲ 1.2%€3.1m▲ 3.6%€3.2m▲ 3.2%
Working capital€258,781▼ 6.3%€489,221▲ 89.0%€67,405▼ 86.2%€262,284▲ 289%€226,915▼ 13.5%
Solvency19.9%within the sector's middle half▼ 0.6pp21.5%within the sector's middle half▲ 1.6pp24.1%within the sector's middle half▲ 2.6pp23.9%within the sector's middle half▼ 0.1pp25.3%within the sector's middle half▲ 1.4pp
Staff (FTE)28.1above the sector's middle half▲ 4.1%29.4above the sector's middle half▲ 4.6%30.6above the sector's middle half▲ 4.1%34above the sector's middle half▲ 11.1%35.9above the sector's middle half▲ 5.6%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 44% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.3m
Fixed assets
€1.4m ▼ 2.3%
Current assets
€2.9m ▲ 8.9%
Equity and liabilities €4.3m
Equity
€1.1m ▲ 11.0%
Debt
€3.2m ▲ 3.2%
Debt's share of the balance-sheet total falls from 76.1% to 74.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€661,748▲
2024 · €613,297
Cash flow
€567,669▲
2024 · €499,227
Current ratio
1.08▼
2024 · 1.11
Quick ratio
0.35▼
2024 · 0.49
Debt to equity
2.96▼
2024 · 3.18
ROE
9.9%▲
2024 · 2.7%
ROA
2.5%▲
2024 · 0.6%
Interest coverage
16.14▲
2024 · 10.07
Debt ≤ 1 year
€2.7m▲
2024 · €2.4m
Debt > 1 year
€524,379▼
2024 · €700,780
Income taxes
€53,166▼
2024 · €53,251
Staff costs
€2.1m▲
2024 · €2.0m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,653 companies that looked in July 2024 the way this one looks now, 0.9% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
0.9%
went bankrupt
1.9%
stopped otherwise
97%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 4,653 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €1,226 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €1.5m | €1.7m | €2.0m | €2.1m | ▲ 1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €275,181 | €283,362 | €347,584 | €472,450 | €459,295 | ▼ 2.8% |
| Other operating charges640/8 | - | €25,246 | €30,325 | €39,231 | €37,224 | ▼ 5.1% |
| Non-recurring operating charges66A | - | - | - | - | €19,608 | - |
| Gross operating margin9900 | €1.9m | €2.2m | €2.3m | €2.7m | €2.8m | ▲ 3.9% |
| Operating profit (loss)9901 | €284,676 | €425,456 | €214,129 | €140,847 | €202,453 | ▲ 43.7% |
| Financial income75/76B | - | €9 | €256 | €88 | €100 | ▲ 13.7% |
| Recurring financial income75 | €235 | €9 | €256 | €88 | €100 | ▲ 13.7% |
| Financial charges65/66B | - | €31,582 | €32,664 | €60,907 | €41,012 | ▼ 32.7% |
| Recurring financial charges65 | €35,123 | €31,582 | €32,664 | €60,907 | €41,012 | ▼ 32.7% |
| Profit (loss) for the period before taxes9903 | €249,788 | €393,883 | €181,721 | €80,028 | €161,541 | ▲ 102% |
| Income taxes67/77 | €66,312 | €112,488 | €42,297 | €53,251 | €53,166 | ▼ 0.2% |
| Profit (loss) for the period9904 | €183,476 | €281,396 | €139,424 | €26,777 | €108,375 | ▲ 305% |
| Profit (loss) for the period to be appropriated9905 | €183,476 | €281,396 | €139,424 | €26,777 | €108,375 | ▲ 305% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.7m | €3.8m | €4.0m | €4.1m | €4.3m | ▲ 5.0% |
| Fixed assets21/28 | €1.1m | €906,523 | €1.5m | €1.4m | €1.4m | ▼ 2.3% |
| Intangible fixed assets21 | €820 | €703 | €586 | €469 | €352 | ▼ 25.0% |
| Tangible fixed assets22/27 | €1.1m | €902,872 | €1.5m | €1.4m | €1.4m | ▼ 2.3% |
| Land and buildings22 | - | €161,520 | €227,419 | €192,099 | €384,081 | ▲ 99.9% |
| Plant, machinery and equipment23 | - | €154,909 | €482,868 | €420,296 | €402,500 | ▼ 4.2% |
| Furniture and vehicles24 | - | €25,346 | €81,696 | €333,718 | €283,325 | ▼ 15.1% |
| Leasing and similar rights25 | - | €561,097 | €669,606 | €468,609 | €312,275 | ▼ 33.4% |
| Financial fixed assets28 | €3,098 | €2,948 | €9,228 | €9,228 | €9,228 | = |
| Current assets29/58 | €1.6m | €2.9m | €2.5m | €2.7m | €2.9m | ▲ 8.9% |
| Stocks and contracts in progress3 | €901,412 | €1.3m | €1.7m | €1.5m | €2.0m | ▲ 32.3% |
| Stocks30/36 | - | €1.3m | €1.7m | €1.5m | €2.0m | ▲ 32.3% |
| Amounts receivable within one year40/41 | €84,225 | €586,959 | €434,393 | €997,172 | €771,094 | ▼ 22.7% |
| Trade receivables40 | - | €506,961 | €350,449 | €945,193 | €771,094 | ▼ 18.4% |
| Other amounts receivable41 | - | €79,998 | €83,944 | €51,979 | - | - |
| Cash at bank and in hand54/58 | €650,368 | €1.0m | €412,648 | €192,075 | €170,992 | ▼ 11.0% |
| Deferred charges and accrued income490/1 | - | - | €9,031 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.7m | €3.8m | €4.0m | €4.1m | €4.3m | ▲ 5.0% |
| Equity10/15 | €538,325 | €819,721 | €959,145 | €985,923 | €1.1m | ▲ 11.0% |
| Contributions10/11 | €188,399 | €188,399 | €188,399 | €188,399 | €188,399 | = |
| Capital10 | - | €188,399 | €188,399 | €188,399 | €188,399 | = |
| Issued capital100 | - | €188,399 | €188,399 | €188,399 | €188,399 | = |
| Reserves13 | €349,926 | €631,322 | €770,746 | €797,524 | €905,898 | ▲ 13.6% |
| Non-distributable reserves130/1 | - | €20,434 | €20,434 | €20,434 | €20,434 | = |
| Legal reserve130 | - | €20,434 | €20,434 | €20,434 | €20,434 | = |
| Distributable reserves133 | - | €610,888 | €750,313 | €777,090 | €885,465 | ▲ 13.9% |
| Amounts payable17/49 | €2.2m | €3.0m | €3.0m | €3.1m | €3.2m | ▲ 3.2% |
| Amounts payable after more than one year17 | €779,615 | €576,023 | €579,662 | €700,780 | €524,379 | ▼ 25.2% |
| Financial debts170/4 | - | €576,023 | €579,662 | €700,780 | €524,379 | ▼ 25.2% |
| Amounts payable within one year42/48 | €1.4m | €2.4m | €2.4m | €2.4m | €2.7m | ▲ 11.3% |
| Current portion of amounts payable after more than one year42 | - | €299,873 | €288,449 | €480,901 | €525,835 | ▲ 9.3% |
| Trade debts44 | €951,477 | €1.9m | €2.0m | €1.7m | €1.9m | ▲ 11.8% |
| Suppliers440/4 | - | €1.9m | €2.0m | €1.7m | €1.9m | ▲ 11.8% |
| Taxes, remuneration and social security45 | - | €181,100 | €192,382 | €218,371 | €244,614 | ▲ 12.0% |
| Taxes450/3 | - | €32,514 | - | €8,251 | €26,693 | ▲ 224% |
| Remuneration and social security454/9 | - | €148,586 | €192,382 | €210,120 | €217,922 | ▲ 3.7% |
| Other amounts payable47/48 | - | €1,911 | €1,841 | €629 | €514 | ▼ 18.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €183,476 | €281,396 | €139,424 | €26,777 | €108,375 | ▲ 305% |
| + Depreciation and write-downs630 | €275,181 | €283,362 | €347,584 | €472,450 | €459,295 | ▼ 2.8% |
| Operating cash flow (approximation) | €458,657 | €564,758 | €487,008 | €499,227 | €567,669 | ▲ 13.7% |
| Investment in fixed assets (approximation) | - | -€115,826 | -€912,464 | -€425,466 | -€426,637 | ▼ 0.3% |
| Change in cash | - | €379,781 | -€617,501 | -€220,573 | -€21,084 | ▲ 90.4% |
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
22-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Equity above €1mEq €1.1m ▲11%
7 profitable years in a row build equity to €1.1m.
2024
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Weakest financial yearnet €26,777 ▼80.8%
Net result drops to €26,777, the lowest in the series; recovery starts the following year.
2023
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
26-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-03
Financial
Highest result since 2019net €281,396 ▲53.4%
Operating result €425,456, net result €281,396, both a record.
2021
21-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
31-03
Financial
Equity above €500,000Eq €538,325 ▲11%
3 profitable years in a row build equity to €538,325.
2020
02-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
03-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 3 days late
2016
21-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Beringen · 4 establishment units since 2010
Ground area
6.4 ha
Building footprint
2.7 ha
Volume, LiDAR
98,392 m³
4 parcels, Flanders · tallest building 12.1 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
4 establishment units
Nijverheidspark 42, 3580 Beringen
since 20102.190.866.843
Carmans E&L
since 20172.260.486.713
Noorwegenstraat 39, 9940 Evergem
since 20222.339.099.867
Mechelsesteenweg 27, 1910 Kampenhout
since 20242.358.803.240
4 parcels
Flanders
4
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13004D0176/00G029 | Flanders | 2.5 ha | 1 · 9,580 m² | - |
| 71004A0014/00L000 | Flanders | 1.5 ha | 1 · 8,077 m² | 12.1 m · 2 fl. |
| 44019B0324/00D000 | Flanders | 1.4 ha | 1 · 5,568 m² | 10.9 m · 3 fl. |
| 23038A0164/00T004 | Flanders | 9,435 m² | 1 · 3,778 m² | 0.5 m |
Linked by address, not proof of ownership
Good to know
4 of 4 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 9 entries · 177,946 EUR awarded · 177,946 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 51,891 EUR | 51,891 EUR |
| 2024 | 2 | 46,243 EUR | 46,243 EUR |
| 2023 | 2 | 41,861 EUR | 41,861 EUR |
| 2022 | 2 | 37,951 EUR | 37,951 EUR |
Recognitions · licences · registrations
Food safety, FASFC
4 sitesBeringen2.190.866.843
Beerse2.260.486.713
Evergem2.339.099.867
Kampenhout2.358.803.240
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Of 3,043 companies in sector 47221 we hold annual accounts for 1,564. 780 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded29-12-1994
Fiscal year end31-03
Activities, NACEBEL 2025
46321Wholesale of meat and meat products, excluding game and poultry
47221Retail sale of meat and meat products, excluding game and poultry
47210Retail sale of fruit and vegetables
47279Other retail sale of food
E-invoicing
Reachable via Peppol
Peppol ID
0208:0454207448
Also
9925:BE0454207448
Registered
05-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.