Financials
- Fiscal year
- 2025
- Turnover
- €147.5m
- Profit
- €4.4m
- Solvency
- 27.7%
Turnover▼ 8.4%
Net result
20182025
CARMEUSE
ActiveSummary
CARMEUSE has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €45.3m and a net result of €4.4m. Equity remains stable across the filed fiscal years (±1.8% per year). Its solvency ranks better than 25% of 80 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Activity
Other mining and quarrying
NACE 08111NACE 14110Manufacture of other non-metallic mineral products NACE 23520
#1 company by total assets in the province of Namur, Mining and quarrying sector6 sites
Size
€147.5mturnover 2025
- Staff
- 243.3 FTE
- Equity
- €45.3m
- Profit
- €4.4m
Structure
- Parent
- Carmeuse Europe · 100%
- Holdings
- 3
Auditor: Deloitte, Reviseurs d'EntrepriseAccounts 49 d early2 of 34 deeds read
Why 84- Liquidity: current ratio 0.63, cash €36,914- 1 of the last 3 late+ Founded in 1987+ Size: turnover €147.5m, 243.3 FTE, total assets €163.7mShow the evidence
Checked score
Score 2025
84
/ 100
Excellent
Probability in this band: under 0.55%
Better than 48% of its sector peers (all companies)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Average
Solvency
53+2
equity 27.7% of total assets
Liquidity
33+12
short-term debt 37.9% · cash 0.0%
Profitability
75-6
return on assets 2.7%
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.6%
12-2024: 0.6%● 0.0% vs 11-2024
01-2025: 0.6%● 0.0% vs 12-2024
02-2025: 0.6%● 0.0% vs 01-2025
03-2025: 0.6%● 0.0% vs 02-2025
04-2025: 0.6%● 0.0% vs 03-2025
05-2025: 0.6%● 0.0% vs 04-2025
06-2025: 0.6%▲ +2.8% vs 05-2025
07-2025: 0.7%▲ +16.3% vs 06-2025
08-2025: 0.4%▼ -44.9% vs 07-2025
09-2025: 0.4%● 0.0% vs 08-2025
10-2025: 0.4%● 0.0% vs 09-2025
11-2025: 0.4%● 0.0% vs 10-2025
12-2025: 0.4%● 0.0% vs 11-2025
01-2026: 0.4%● 0.0% vs 12-2025
02-2026: 0.4%▼ -3.9% vs 01-2026
03-2026: 0.4%▲ +1.6% vs 02-2026
04-2026: 0.4%▼ -2.7% vs 03-2026
05-2026: 0.4%▲ +3.3% vs 04-2026
06-2026: 0.4%▲ +2.4% vs 05-2026
07-2026: 0.4%▲ +0.8% vs 06-2026
08-2026: 0.7%▲ +91.7% vs 07-2026
09-2026: 0.9%▲ +23.8% vs 08-2026highest value
10-2026: 0.4%▼ -60.9% vs 09-2026lowest value
- Liquidity: current ratio 0.63, cash €36,914 raises the probability
- Founded in 1987 lowers the probability for this profile
- 1 of the last 3 late raises the probability
- Size: turnover €147.5m, 243.3 FTE, total assets €163.7m lowers the probability for this profile
Credit up to €3,800,000 at 30 days acceptable
Liquidity short (current ratio 0.63 against 0.35 in 2024; short-term debt: 37.9% and cash: 0% of total assets), and 72.3% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (all companies). Better than this share of them on solvency 42%, liquidity 31%, profitability 75%, growth against the median 46%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 80 sector peers (2025).
NBB · sector comparisonPosition among 80 sector peers
Solvency
better than 25%
← weakest
strongest →
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 12-06-2026, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
49 d early
2024
21 d early
2023
474 d late
2022
17 d early
2021
25 d late
2020
11 d early
2019
61 d late
← 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 66 days after the deadline; the sector median for financial year 2024 is 21 days before the deadline, and 30% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 14 July (4 of the last 5 filed years within 42 days of that day).
Companies Code · seven monthsPosition in the running window
05-10-2026 today31-12-2026 close31-07-2027 deadline
- Reappointment: Deloitte Réviseurs d'Entreprise (statutory auditor)Power of attorney
- Appointment: Elise Di Marino (daily management…Resignation: Elvira Saitova (director)
- Annual accounts filedfiscal year 2025 · full…
Key points
- Positive: Company by total assets in the province of…in the Checked rankings #1 View
- Caution: Result fell in 2025from €10.8m to €4.4m ▼ 59.3% View
- Controlled by Carmeuse Europeknown shareholders 100% 100% View
- Positive: 7 profitable years in a rowprofit 2025: €4.4m 7 years View
- Board changedlatest change 13-07-2026 · 0 in office 1 joined · 1 left View
By topic
Board & ownership
- Parent
- Carmeuse Europe · 100%
- Known shareholders
- 100%
- Auditor
- Deloitte, Reviseurs d'Entreprise
Network & group
- Group
- Carmeuse Holding
- Holdings
- 3
3 holdings
Timeline
- Events
- 14
- Since
- 2017
- Next accounts
- by 31-07-2027
- 07-08-2026Reappointment: Deloitte Réviseurs d'Entreprise (statutory auditor)
- 13-07-2026Appointment: Elise Di Marino (daily management delegate)
- 12-06-2026Annual accounts filed
Company details
- Sites
- 6
- Legal form
- Public limited company
- Activity
- Other mining and quarryingNACE 08111
- Founded
- 18-06-1987
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Articles of association
- Provisions read
- 1
See the provisions in the deeds
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?CARMEUSE HOLDING S.A. · 9 companies
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