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Carnea

Active
Private limited companyfounded 20242 yrs activePresident Kennedypark(Kor) 27, 8500 Kortrijk, BelgiumKBO/BCE: BE 1010.940.829
Summary

The computed 12-month bankruptcy probability of Carnea is 2.8% (moderate). The 2025 annual accounts show equity of €2.8m and a net result of -€859,595. The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
Axes · tick = 2024
Profitability1▼-3
Solvency71▼-7
Growth32
Track record82
Bankruptcy probability, 12 months
2.8% Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days only on tighter terms
Liquidity ample (current ratio 24.43 against 32.63 in 2024; short-term debt: 4.1% and cash: 0.5% of total assets), but 54.2% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 2 years 0 10 y
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
45.8%
Return on assets
-14%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
2425
2024 to 2025 · latest year -€859,595
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 15-07-2026, 16 days ahead of the deadline.
NBB · 3 filings
Deviation from the deadline
2025
16 d early
2024
56 d late
2024
151 d early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 3 accounts on average 37 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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.
Companies Code · seven months
Position in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 30 June 2024, Carnea was incorporated as a Private limited company.1 The company has filed 3 sets of annual accounts, the latest for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, abbreviated schema

Equity
€2.8m▼ 23.4%
2024 · €3.7m
Total assets
€6.1m▼ 10.7%
2024 · €6.9m
Net result
-€859,595▼ 5.0%
2024 · -€818,989
Working capital
€5.9m▼ 11.6%
2024 · €6.6m
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20242025
Operating result-€11,975--€11,640▲ 2.8%
Net result-€818,989--€859,595▼ 5.0%
Equity€3.7m-€2.8m▼ 23.4%
Total assets€6.9m-€6.1m▼ 10.7%
Debt€3.2m-€3.3m▲ 4.0%
Working capital€6.6m-€5.9m▼ 11.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
-€1.0m-€750,000-€500,000-€250,000€0Operating result 2024: -€11,975-€11,975Net result 2024: -€818,989-€818,989Operating result 2025: -€11,640-€11,640Net result 2025: -€859,595-€859,59520242025-€1m-€750,000-€500,000-€250,000€0Operating result 2024: -€11,975-€12,000Net result 2024: -€818,989-€819,000Operating result 2025: -€11,640-€11,600Net result 2025: -€859,595-€860,00020242025
The operating result stays negative: a loss of €11,640 in 2025 against €11,975 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €6.1m
Equity €2.8m ▼ 23.4%
Debt €3.3m ▲ 4.0%
Debt's share of the balance-sheet total rises from 46.5% to 54.2%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
-€9,748▲
2024 · -€11,011
Cash flow
-€857,703▼
2024 · -€818,025
Current ratio
24.43▼
2024 · 32.63
Debt to equity
1.18▲
2024 · 0.87
ROE
-30.6%▼
2024 · -22.3%
ROA
-14.0%▼
2024 · -11.9%
Interest coverage
-0.01▲
2024 · -0.01
Debt ≤ 1 year
€250,387▲
2024 · €209,830
Debt > 1 year
€2.9m=
2024 · €2.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 146 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 92% are still going.

  • Medium-sized
  • solvency 30% or more
  • a loss of 10% of the balance sheet or more
  • without age
2.1% went bankrupt
5.5% stopped otherwise
92% still going

A further 0.7% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 2.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

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%.

The companies in ten equal groups, from lowest to highest expected share.
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 146 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 35 lines
Balance sheet Code20242025
Assets
Total assets20/58€6.9m€6.1m▼
Formation expenses20€8,494€6,603▼
Current assets29/58€6.8m€6.1m▼
Amounts receivable after more than one year29€6.8m€6.1m▼
Other amounts receivable291€6.8m€6.1m▼
Amounts receivable within one year40/41€5,115€5,115=
Other amounts receivable41€5,115€5,115=
Cash at bank and in hand54/58€409€30,152▲
Equity and liabilities
Total equity and liabilities10/49€6.9m€6.1m▼
Equity10/15€3.7m€2.8m▼
Contributions10/11€4.1m€4.1m=
Reserves13€59,478€59,478=
Distributable reserves133€59,478€59,478=
Profit (loss) carried forward14-€474,618-€1.3m▼
Amounts payable17/49€3.2m€3.3m▲
Amounts payable after more than one year17€2.9m€2.9m=
Other amounts payable178/9€2.9m€2.9m=
Amounts payable within one year42/48€209,830€250,387▲
Trade debts44€10,624€19,804▲
Suppliers440/4€10,624€19,804▲
Taxes, remuneration and social security45€6,169€6,169=
Taxes450/3€6,169€6,169=
Other amounts payable47/48€193,037€224,414▲
Accrued charges and deferred income492/3€46,768€133,462▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€964€1,892▲
Other operating charges640/8-€128
Gross operating margin9900-€11,011-€9,620▲
Operating profit (loss)9901-€11,975-€11,640▲
Financial charges65/66B€807,014€847,955▲
Recurring financial charges65€807,014€847,955▲
Profit (loss) for the period before taxes9903-€818,989-€859,595▼
Profit (loss) for the period9904-€818,989-€859,595▼
Profit (loss) for the period to be appropriated9905-€818,989-€859,595▼
Appropriation of the result
Profit (loss) to be appropriated9906-€474,618-€1.3m▼
Profit (loss) brought forward from the previous period14P€344,371-€474,618▼

The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€964€1,892▲ 96.3%
Other operating charges640/8-€128-
Gross operating margin9900-€11,011-€9,620▲ 12.6%
Operating profit (loss)9901-€11,975-€11,640▲ 2.8%
Financial charges65/66B€807,014€847,955▲ 5.1%
Recurring financial charges65€807,014€847,955▲ 5.1%
Profit (loss) for the period before taxes9903-€818,989-€859,595▼ 5.0%
Profit (loss) for the period9904-€818,989-€859,595▼ 5.0%
Profit (loss) for the period to be appropriated9905-€818,989-€859,595▼ 5.0%
Line20242025Change
Assets
Total assets20/58€6.9m€6.1m▼ 10.7%
Formation expenses20€8,494€6,603▼ 22.3%
Current assets29/58€6.8m€6.1m▼ 10.7%
Amounts receivable after more than one year29€6.8m€6.1m▼ 11.1%
Other amounts receivable291€6.8m€6.1m▼ 11.1%
Amounts receivable within one year40/41€5,115€5,115=
Other amounts receivable41€5,115€5,115=
Cash at bank and in hand54/58€409€30,152▲ 7,272%
Equity and liabilities
Total equity and liabilities10/49€6.9m€6.1m▼ 10.7%
Equity10/15€3.7m€2.8m▼ 23.4%
Contributions10/11€4.1m€4.1m=
Reserves13€59,478€59,478=
Distributable reserves133€59,478€59,478=
Profit (loss) carried forward14-€474,618-€1.3m▼ 181%
Amounts payable17/49€3.2m€3.3m▲ 4.0%
Amounts payable after more than one year17€2.9m€2.9m=
Other amounts payable178/9€2.9m€2.9m=
Amounts payable within one year42/48€209,830€250,387▲ 19.3%
Trade debts44€10,624€19,804▲ 86.4%
Suppliers440/4€10,624€19,804▲ 86.4%
Taxes, remuneration and social security45€6,169€6,169=
Taxes450/3€6,169€6,169=
Other amounts payable47/48€193,037€224,414▲ 16.3%
Accrued charges and deferred income492/3€46,768€133,462▲ 185%
Line20242025Change
Profit (loss) for the period9904-€818,989-€859,595▼ 5.0%
+ Depreciation and write-downs630€964€1,892▲ 96.3%
Operating cash flow (approximation)-€818,025-€857,703▼ 4.9%
Change in cash-€29,743-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
15-07
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
25-09
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema · 56 days late
2024
30-08
NBB filing Annual accounts filed
fiscal year 2024 · unclassified schema
NBB filing
0 of 2 acts read
About the unread acts

We know of 2 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
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, Kortrijk · 1 establishment unit since 2024
seat establishment The establishment unit on the map
Ground area
1.6 ha
Building footprint
2,207 m²
Volume, LiDAR
14,411 m³
Parcel 34354D0147/00E000, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
President Kennedypark(Kor) 27, 8500 Kortrijk
Holdings
since 20242.392.619.024
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
34354D0147/00E000 Flanders 1.6 ha 1 · 2,207 m² 8.3 m · 2 fl.
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Identification & contact

Identification
Legal formPrivate limited company
Founded30-06-2024
Fiscal year end31-12
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

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Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.