CARNATH
ActiveCARNATH has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8k and a net result of €-5k. Equity is growing by ~41.9% per year across the filed fiscal years. Its solvency ranks better than 58% of 7723 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
58
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability3▼-97
Solvency86▲+1
Growth85=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Sector 82
lower
← 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
60.6%
Return on assets
-40.9%
Age of the figures
9 mo
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 25-05-2026, 67 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
67 d early
2024
64 d early
2023
68 d early
2022
66 d early
2021
68 d early
2020
38 d early
2019
17 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€17k▼ 52.4%
2024 · €36k
2018: €497
2019: €202
2020: €27k
2021: €45k
2022: €32k
2023: €43k
2024: €36k
2018 → 2025
EBIT margin
-20.7%▼ 50.6pp
2024 · 29.9%
2018: -1176.1%
2019: -1086.6%
2020: 22.7%
2021: 5.1%
2022: 8.1%
2023: 4.5%
2024: 29.9%
2018 → 2025
Net result
€-5k
2024 · €8k
2018: €-6k
2019: €-3k
2020: €6k
2021: €2k
2022: €1k
2023: €1k
2024: €8k
2018 → 2025
Working capital
€3k▼ 72.1%
2024 · €9k
2018: €9k
2019: €6k
2020: €-1k
2021: €-7k
2022: €-2k
2023: €4k
2024: €9k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€45k-€32k▼ 29.0%€43k▲ 35.9%€36k▼ 16.9%€17k▼ 52.4%
Equity€1k-€3k▲ 84.9%€4k▲ 51.1%€13k▲ 204%€8k▼ 40.3%
Operating result€2k-€3k▲ 12.3%€2k▼ 23.4%€11k▲ 448%€-4k
Net result€2k-€1k▼ 43.6%€1k▲ 11.4%€8k▲ 502%€-5k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €4k after €11k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12k
Fixed assets
€5k▼ 38.8%
Current assets
€8k▼ 41.5%
Equity and liabilities €12k
Equity
€8k▼ 40.3%
Provisions
€0▼ 100%
Debt
€5k▲ 41.7%
The debt ratio rises from 16.6% to 39.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-426▼
2024 · €14k
Cash flow
€-2k▼
2024 · €12k
Solvency
60.6%▲
2024 · 60.4%
Current ratio
1.54▼
2024 · 3.72
Quick ratio
1.12▼
2024 · 3.72
Debt / equity
0.65▲
2024 · 0.27
ROE
-67.6%▼
2024 · 67.1%
ROA
-40.9%▼
2024 · 40.5%
Interest coverage
-3.88▼
2024 · 158.99
Debt
€5k▲
2024 · €3k
Debt ≤ 1 year
€5k▲
2024 · €3k
Income taxes
€1k▼
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€21k€12k▼
Fixed assets21/28€8k€5k▼
Tangible fixed assets22/27€8k€5k▼
Other tangible fixed assets26€8k€5k▼
Current assets29/58€13k€8k▼
Stocks and contracts in progress3-€2k
Stocks30/36-€2k
Amounts receivable within one year40/41€4k€3k▼
Trade receivables40€3k€3k▲
Other amounts receivable41€1k-
Cash at bank and in hand54/58€8k€675▼
Deferred charges and accrued income490/1-€2k
Equity and liabilities
Total equity and liabilities10/49€21k€12k▼
Equity10/15€13k€8k▼
Contributions10/11€9k€9k=
Reserves13€11k€11k=
Tax-exempt reserves132€8k€8k=
Distributable reserves133€3k€3k=
Profit (loss) carried forward14€-7k€-12k▼
Provisions and deferred taxes16€5k-
Provisions for liabilities and charges160/5€5k-
Major repairs and maintenance162€5k-
Amounts payable17/49€3k€5k▲
Amounts payable within one year42/48€3k€5k▲
Trade debts44€857€1k▲
Suppliers440/4€857€1k▲
Taxes, remuneration and social security45€2k€840▼
Taxes450/3€2k€840▼
Other amounts payable47/48€536€3k▲
Income statement
Code20242025
Turnover70€36k€17k▼
Goods, raw materials, services and sundry goods60/61€15k€16k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k=
Provisions for liabilities and charges: additions (uses and reversals)635/8€5k€-410▼
Other operating charges640/8€2k€2k▼
Gross operating margin9900€21k€936▼
Operating profit (loss)9901€11k€-4k▼
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€87€110▲
Recurring financial charges65€87€110▲
Profit (loss) for the period before taxes9903€11k€-4k▼
Income taxes67/77€2k€1k▼
Profit (loss) for the period9904€8k€-5k▼
Profit (loss) for the period to be appropriated9905€8k€-5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-7k€-12k▼
Profit (loss) brought forward from the previous period14P€-15k€-7k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
25-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €8k ▲502%
Operating result €11k, net result €8k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 3.72
Current ratio from 1.71 to 3.72; short-term debt falls from €6k to €3k.
24-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
26-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €6k
Net result €6k after 2 loss-making years.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
14-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-07
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.
Directors · office · real estate
Directors
2 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, Waasmunster · 1 establishment unit since 1994
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Nijverheidslaan 579250 WaasmunsterGround area
2,021 m²
Building footprint
244 m²
Volume, LiDAR
1,405 m³
Parcel 42023B0946/00K000, Flanders · tallest building 10.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CARNATH
since 19942.065.060.912
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42023B0946/00K000 | Flanders | 2,021 m² | 1 · 244 m² | 10.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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INP
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Of 24,501 companies in sector 82990 we hold annual accounts for 9,402. 3,953 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded31-08-1993
Fiscal year end31-12
Activities, NACEBEL
51532
82990Other business support services
46831Wholesale of construction materials, general range
71209Other technical testing and analysis
Sources
Crossroads Bank for EnterprisesNational Bank · 32 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
3 entriesPhone:0472398318
Phone:052/462 622
Phone:0478/83 72 74