CARMEUSE
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 12-06-2026 at the NBB all 39 filings
2021 to 2025, 5 financial years 2018 to 2025, 7 financial years
The operating result for 2025 is 46% lower than in 2024. It is the second fall in a row.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Other mining and quarrying (NACE 08). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Comparable companies
These companies have the same main activity as CARMEUSE: other mining and quarrying (NACE 08111). They are comparable in size and age: total assets between €17m and €67m, founded between 1888 and 2000.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| CARMEUSE Andenne | 1987 | €163.7m | €45.3m | - | €147.5m | €4.4m | 243.3 | 2025 |
| LES CARRIERES DE LA PIERRE BLEUE BELGE Soignies | 1994 | €26.4m | €10.4m | - | €13.4m | -€2.0m | 161.5 | 2025 |
| Carrières Unies de Porphyre Lessines | 1903 | €67.0m | €46.2m | - | €44.4m | €4.1m | 137.1 | 2025 |
| CARRIERES DU HAINAUT Soignies | 1888 | €62.1m | €24.6m | - | €43.6m | €3.7m | 319.1 | 2025 |
| CARRIÈRES LES PETONS Walcourt | 1977 | €17.4m | €2.7m | - | €9.9m | -€1.0m | 33.5 | 2025 |
| Carrière des Limites Rochefort | 1961 | €18.5m | €11.0m | - | €21.5m | €3.6m | 28.5 | 2024 |
| CARRIERES DE GRES REUNIES La Roche-en-Ardenne | 2000 | €21.4m | €3.3m | €2.0m | - | -€0.4m | 24 | 2025 |
They were chosen from the 94 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 733 companies had the same profile as CARMEUSE has now. Two years later, 1.0% had gone bankrupt and 97.4% were still going.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CARMEUSE itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,445 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 733 companies, not a prediction for CARMEUSE. 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.
Public contracts
Show 2 more contracts
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | €150.4m | - | €123.5m | €165.2m | €176.0m | €178.2m | €161.7m | ▼ 9.2% |
| Turnover70 | €118.0m | €98.5m | €109.1m | €147.1m | €157.5m | €161.1m | €147.5m | ▼ 8.4% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | €0.3m | - | -€0.6m | €1.6m | €1.6m | -€1.2m | €0.2m | - |
| Own construction capitalised72 | €0.2m | - | - | - | - | - | - | - |
| Other operating income74 | €19.1m | - | €14.9m | €16.4m | €16.9m | €18.2m | €14.0m | ▼ 23.4% |
| Non-recurring operating income76A | €12.8m | - | - | - | - | - | - | - |
| Operating charges60/66A | €104.9m | - | €115.8m | €148.8m | €158.1m | €161.7m | €152.8m | ▼ 5.5% |
| Goods for resale, raw materials and consumables60 | €21.8m | - | €25.9m | €40.7m | €43.3m | €45.2m | €35.3m | ▼ 22.0% |
| Purchases600/8 | - | - | €25.9m | - | €44.1m | €46.0m | €34.6m | ▼ 24.7% |
| Change in stocks: decrease (increase)609 | -€0.1m | - | €0.08m | €2.2m | -€0.8m | -€0.8m | €0.7m | - |
| Services and other goods61 | €65.9m | - | €55.8m | €72.4m | €83.3m | €80.0m | €78.0m | ▼ 2.5% |
| Remuneration, social security and pensions62 | €24.0m | - | €20.7m | €23.0m | €24.4m | €25.1m | €25.1m | ▲ 0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16.1m | €13.2m | €12.1m | €11.6m | €13.4m | €11.0m | €13.2m | ▲ 20.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€0.1m | - | €0.03m | -€0.2m | €0.1m | -€0.2m | -€0.4m | ▼ 143% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€2.3m | - | €0.03m | -€0.2m | -€10.6m | -€1.0m | -€0.04m | ▲ 95.6% |
| Other operating charges640/8 | €1.2m | - | €1.3m | €1.5m | €2.1m | €1.6m | €1.7m | ▲ 3.9% |
| Non-recurring operating charges66A | -€21.8m | - | - | - | €2.0m | €0.03m | €176 | ▼ 99.4% |
| Operating profit (loss)9901 | €45.6m | €1.2m | €7.7m | €16.3m | €17.9m | €16.5m | €9.0m | ▼ 45.6% |
| Financial income75/76B | - | - | €0.07m | - | €0.002m | €0.005m | €0.009m | ▲ 76.7% |
| Recurring financial income75 | €1.2m | €1.3m | €0.06m | €0.8m | €0.002m | €0.005m | €0.009m | ▲ 76.7% |
| Income from current assets751 | €0.03m | - | €0.002m | €0.03m | €0 | €0.004m | - | - |
| Other financial income752/9 | €1.2m | - | €0.06m | €0.8m | €0.002m | €0.001m | €0.009m | ▲ 916% |
| Non-recurring financial income76B | - | - | €0.01m | - | - | - | - | - |
| Financial charges65/66B | €8.4m | - | €1.3m | €1.4m | €2.7m | €2.1m | €2.6m | ▲ 21.4% |
| Recurring financial charges65 | €8.4m | €1.3m | €1.3m | €1.4m | €2.1m | €2.1m | €2.6m | ▲ 21.4% |
| Debt charges650 | €1.2m | €0.7m | €0.7m | €0.7m | €1.3m | €1.1m | €1.5m | ▲ 42.9% |
| Other financial charges652/9 | €7.2m | - | €0.6m | €0.8m | €0.9m | €1.1m | €1.0m | ▼ 0.8% |
| Non-recurring financial charges66B | €0.002m | - | €0.002m | €0.002m | €0.5m | - | - | - |
| Profit (loss) for the period before taxes9903 | €38.4m | €1.2m | €6.5m | €15.7m | €15.2m | €14.3m | €6.4m | ▼ 55.6% |
| Income taxes67/77 | €1.4m | €0.05m | €0.5m | €4.9m | €1.1m | €3.5m | €2.0m | ▼ 44.2% |
| Taxes670/3 | €1.4m | - | €0.5m | €4.9m | €1.1m | €3.8m | €2.8m | ▼ 26.8% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €0.06m | €0.3m | €0.8m | ▲ 188% |
| Profit (loss) for the period9904 | €37.0m | €1.2m | €5.9m | €10.9m | €14.1m | €10.8m | €4.4m | ▼ 59.3% |
| Profit (loss) for the period to be appropriated9905 | €37.0m | €1.2m | €5.9m | €10.9m | €14.1m | €10.8m | €4.4m | ▼ 59.3% |
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €183.6m | €135.3m | €141.0m | €160.7m | €174.9m | €158.7m | €163.7m | ▲ 3.2% |
| Fixed assets21/28 | €93.5m | €102.9m | €111.6m | €122.6m | €124.2m | €127.2m | €124.7m | ▼ 1.9% |
| Intangible fixed assets21 | €0.08m | €0.04m | €0.06m | €0.3m | €0.7m | €4.6m | €3.9m | ▼ 15.9% |
| Tangible fixed assets22/27 | €92.9m | €101.7m | €110.4m | €121.1m | €122.9m | €121.9m | €120.2m | ▼ 1.4% |
| Land and buildings22 | €20.1m | - | €23.7m | €26.3m | €26.8m | €28.0m | €34.7m | ▲ 24.0% |
| Plant, machinery and equipment23 | €60.3m | - | €54.0m | €50.9m | €46.7m | €74.1m | €69.1m | ▼ 6.8% |
| Furniture and vehicles24 | €0.3m | - | €0.9m | €0.9m | €1.0m | €0.8m | €0.9m | ▲ 13.3% |
| Leasing and similar rights25 | €0.1m | - | €0.07m | €0.05m | €0.04m | €0.03m | €0.02m | ▼ 33.2% |
| Other tangible fixed assets26 | - | - | €0.003m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Assets under construction and advance payments27 | €12.0m | - | €31.9m | €42.9m | €48.4m | €18.9m | €15.4m | ▼ 18.7% |
| Financial fixed assets28 | €0.5m | €1.1m | €1.1m | €1.1m | €0.6m | €0.6m | €0.6m | ▼ 0.1% |
| Affiliated companies280/1 | €0.001m | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 35.1% |
| Participating interests280 | €0.001m | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 35.1% |
| Companies linked by participating interests282/3 | €0.5m | - | €1.1m | €1.1m | €0.6m | €0.6m | €0.6m | = |
| Participating interests282 | €0.5m | - | €1.1m | €1.1m | €0.6m | €0.6m | €0.6m | = |
| Other financial fixed assets284/8 | €0.03m | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Shares284 | €0.004m | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Amounts receivable and cash guarantees285/8 | €0.03m | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Current assets29/58 | €90.1m | €32.3m | €29.4m | €38.2m | €50.7m | €31.5m | €39.0m | ▲ 23.8% |
| Stocks and contracts in progress3 | €10.7m | €10.9m | €11.4m | €12.5m | €14.7m | €14.4m | €14.4m | = |
| Stocks30/36 | €10.7m | - | €11.4m | €12.5m | €14.7m | €14.4m | €14.4m | = |
| Raw materials and consumables30/31 | €5.4m | - | €7.4m | €6.8m | €7.0m | €8.0m | €7.7m | ▼ 3.3% |
| Finished goods33 | €5.3m | - | €3.9m | €5.5m | €7.5m | €6.3m | €6.5m | ▲ 4.0% |
| Goods purchased for resale34 | €0.07m | - | €0.07m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 11.8% |
| Amounts receivable within one year40/41 | €78.0m | €20.4m | €16.9m | €24.7m | €34.8m | €15.9m | €23.2m | ▲ 45.3% |
| Trade receivables40 | €12.3m | - | €10.4m | €23.0m | €33.2m | €14.9m | €17.1m | ▲ 15.0% |
| Other amounts receivable41 | €65.7m | - | €6.5m | €1.6m | €1.7m | €1.1m | €6.1m | ▲ 460% |
| Current investments50/53 | €1.1m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.2m | ▲ 18.9% |
| Other investments51/53 | €1.1m | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.2m | ▲ 18.9% |
| Cash at bank and in hand54/58 | €0.06m | €0.03m | €0.06m | €0.007m | €0.1m | €0.03m | €0.04m | ▲ 44.1% |
| Deferred charges and accrued income490/1 | €0.2m | - | €0.01m | €0.02m | €0.06m | €0.2m | €0.2m | ▲ 49.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €183.6m | €135.3m | €141.0m | €160.7m | €174.9m | €158.7m | €163.7m | ▲ 3.2% |
| Equity10/15 | €40.9m | €39.2m | €45.2m | €46.0m | €60.1m | €40.9m | €45.3m | ▲ 10.8% |
| Contributions10/11 | €34.1m | €34.1m | €35.9m | €35.9m | €35.9m | €35.9m | €35.9m | = |
| Capital10 | €34.1m | - | €34.1m | €34.1m | €34.1m | €34.1m | €34.1m | = |
| Issued capital100 | €34.1m | - | €34.1m | €34.1m | €34.1m | €34.1m | €34.1m | = |
| Contributions outside capital11 | €1.8m | - | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Share premium1100/10 | - | - | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Reserves13 | €3.6m | €3.6m | €3.6m | €3.6m | €3.6m | €3.6m | €3.6m | = |
| Non-distributable reserves130/1 | - | - | €3.6m | €3.6m | €3.6m | €3.6m | €3.6m | = |
| Legal reserve130 | €3.6m | - | €3.6m | €3.6m | €3.6m | €3.6m | €3.6m | = |
| Tax-exempt reserves132 | - | - | - | - | €0 | €0 | €0 | - |
| Profit (loss) carried forward14 | €0.9m | -€0.4m | €5.6m | €6.4m | €20.6m | €1.4m | €5.8m | ▲ 318% |
| Investment grants15 | €0.4m | - | €0.06m | - | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €27.8m | €28.4m | €28.5m | €28.3m | €17.7m | €16.7m | €16.7m | ▼ 0.3% |
| Provisions for liabilities and charges160/5 | €27.8m | - | €28.5m | €28.3m | €17.7m | €16.7m | €16.7m | ▼ 0.3% |
| Pensions and similar obligations160 | €0.8m | - | €0.2m | €0.1m | €0.03m | €0.3m | €0.3m | ▼ 0.3% |
| Environmental obligations163 | €24.4m | - | €25.0m | €25.2m | €16.6m | €16.3m | €16.4m | ▲ 0.7% |
| Other liabilities and charges164/5 | €2.6m | - | €3.2m | €2.9m | €1.1m | €0.2m | €0.02m | ▼ 88.2% |
| Amounts payable17/49 | €114.9m | €67.6m | €67.4m | €86.5m | €97.1m | €101.0m | €101.7m | ▲ 0.7% |
| Amounts payable after more than one year17 | €35.0m | €23.3m | €16.5m | €13.9m | €13.3m | €12.0m | €39.2m | ▲ 227% |
| Financial debts170/4 | €34.7m | - | €16.5m | €13.9m | €13.3m | €12.0m | €39.2m | ▲ 227% |
| Unsubordinated bonds171 | €34.7m | - | €6.5m | €3.9m | €1.3m | - | - | - |
| Other loans174 | - | - | €10.0m | €10.0m | €12.0m | €12.0m | €39.2m | ▲ 227% |
| Other amounts payable178/9 | €0.4m | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €79.5m | €42.8m | €49.9m | €72.3m | €83.6m | €88.9m | €62.0m | ▼ 30.2% |
| Current portion of amounts payable after more than one year42 | €6.6m | - | €6.6m | €2.6m | €2.6m | €1.3m | - | - |
| Financial debts43 | - | - | - | - | €0 | €0 | €12.0m | - |
| Other loans439 | - | - | - | - | €0 | €0 | €12.0m | - |
| Trade debts44 | €27.4m | €31.5m | €38.8m | €49.4m | €52.5m | €51.7m | €45.0m | ▼ 12.9% |
| Suppliers440/4 | €27.4m | - | €38.8m | €49.4m | €52.5m | €51.7m | €45.0m | ▼ 12.9% |
| Taxes, remuneration and social security45 | €4.1m | - | €4.4m | €10.3m | €9.5m | €5.7m | €5.1m | ▼ 10.9% |
| Taxes450/3 | €0.07m | - | €0.4m | €5.1m | €3.8m | €0.1m | €0.07m | ▼ 23.1% |
| Remuneration and social security454/9 | €4.0m | - | €4.0m | €5.2m | €5.7m | €5.6m | €5.0m | ▼ 10.7% |
| Other amounts payable47/48 | €41.4m | - | €0.09m | €10.1m | €19.0m | €30.3m | €242 | ▼ 100.0% |
| Accrued charges and deferred income492/3 | €0.4m | - | €1.0m | €0.3m | €0.2m | €0.1m | €0.5m | ▲ 316% |
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37.0m | €1.2m | €5.9m | €10.9m | €14.1m | €10.8m | €4.4m | ▼ 59.3% |
| + Depreciation and write-downs630 | €16.1m | €13.2m | €12.1m | €11.6m | €13.4m | €11.0m | €13.2m | ▲ 20.3% |
| Operating cash flow (approximation) | €53.1m | €14.3m | €18.0m | €22.5m | €27.6m | €21.8m | €17.6m | ▼ 19.3% |
| Investment in fixed assets (approximation) | - | - | -€20.7m | -€22.6m | -€15.1m | -€13.9m | -€10.7m | ▲ 23.0% |
| Change in cash | - | - | €0.03m | -€0.06m | €0.09m | -€0.07m | €0.01m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 39 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 12-06-2026 | 2026-00169889 | NBB |
| 31-12-2024 | full format | 10-07-2025 | 2025-00273059 | |
| 31-12-2023 | full format | 17-11-2025 | 2025-00568719 | |
| 31-12-2022 | full format | 14-07-2023 | 2023-00248608 | |
| 31-12-2021 | full format | 25-08-2022 | 2022-20328446 | |
| 31-12-2020 | full format | 20-07-2021 | 2021-38200145 | |
| 31-12-2019 | full format | 30-09-2020 | 2020-57500233 | |
| 31-12-2018 | full format | 09-08-2019 | 2019-45400415 | |
| 31-12-2017 | full format | 18-07-2018 | 2018-34300240 | |
| 31-12-2016 | full format | 05-07-2017 | 2017-29400005 |