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CARNIC

Active Public limited companyfounded 1997active for 29 yearsBovenhoekstraat 39, 9406 NinoveKBO/BCE: BE 0460.812.752 #10 company by total assets in Ninove, Real estate sector
CARNIC
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Overview

Lifetime

20 annual accounts with figures on one time axis, 28 filings since 1998
peak €1.0m (2025)
€1.0m▲ 392%
lowest -€183,087 (2018)
€581,714▲ €723,161
peak €1.3m (2015)
€1.1m▲ 87.3%
€2.2m▼ 6.3%
peak 0.5 FTE (2015)
-not published
Board6 names since 2019
3 directorsDe Bruyn Nicolas and 2 others
Documentsfilings and deeds
30-04-2026on the last day
2025micro format
Gross margin from €204,066 to €1.0mBack to profit: €581,714Dividend €64,632Equity from €592,041 to €1.1mCash from €70,516 to €175,114

Key points

from the 2025 annual accounts

Equity

€1.1m ▲ 87.3%
€592,0002024€1.1m2025

Equity rose in 2025 from €592,041 to €1.1m.

Turnover

≈ €1.0m estimated

The micro format states no turnover.

Investments

€22,798 0.1 × depreciation
20212022202320242025

Green is investment, beige is depreciation.

Liquidity

4.39 was 1.10 in 2024

Short-term debts rose from €214,593 to €215,811.

Filings

28 annual accounts since 1998
deadline200020102020

The 2018 accounts came 2 days late. The other nine of the last ten were filed on time.

Position in the sector

€581,714

Higher net result than 95% of companies in real estate. Sector median €5,986 · 17,185 companies.

Checked score

98
Excellent
Financially stronger than 80% of small companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.1% 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.1%● unchanged vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.2%▲ +0.1 percentage points vs 03-2026highest value 05-2026: < 0.1%▼ -0.2 percentage points vs 04-2026lowest value 06-2026: < 0.1%● unchanged vs 05-2026lowest value 07-2026: < 0.1%● unchanged vs 06-2026 08-2026: < 0.1%● unchanged vs 07-2026 09-2026: < 0.1%● unchanged vs 08-2026 10-2026: < 0.1%● unchanged vs 09-2026 11-2026: < 0.1%● unchanged vs 10-2026

Financial strength
Strong

55+11equity 30.3% of total assets
56+3short-term debt 5.9% · cash 4.8%
89+67return on assets 15.9%

Score breakdown

raises risk
Liquidity: current ratio 4.39, cash €175,114
lowers risk
Size: total assets €3.7m
Figures for financial year 2025 (filed on 30-04-2026)
Legal form: public limited company
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

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%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, small). It does better than 51% of them on solvency, 81% on liquidity, 96% on profitability and 93% on growth.

The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 30-09-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 20,137 companies had the same profile as CARNIC has now. Each dot stands for 51 companies, two years later.

95.0%
were still trading
4.7%
stopped another way
0.2%
went bankrupt
  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more

That fits the bankruptcy probability of CARNIC itself: < 0.1% within 12 months.

Test of the method

The method was tested on the 497,447 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 20,137 companies, not a prediction for CARNIC. 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.

Credit verdict

Credit of up to €100,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 4.39 (1.1 in 2024), above the usual 1.5. Short-term debt is 5.9% and cash 4.8% of total assets. However, 69.7% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Six signals.
lowers riskraises riskneutral
lowers risk · Size: total assets €3.7m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
lowers risk · Figures for financial year 2025 (filed on 30-04-2026)
NBB · annual accounts
lowers risk · Legal form: public limited company
KBO
raises risk · Liquidity: current ratio 4.39, cash €175,114
NBB · annual accounts
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025
Equity per financial year
19202122232425
2019 to 2025 · latest year €1.1m
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
on the day
2024
on the day
2023
on the day
2022
30 days early
2021
8 days early
2020
1 day early
2019
1 day early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 6 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 30 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
30-09-2026 year end10-11-2026 today30-04-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

DB
DE BRUYN Nicolas Bart
Managing director
DB
De Bruyn Nicolas
Director
VF
VANDERHOEVEN Freya
Director, since 18-12-2024
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0460812752
3 directors resigning, 2 reappointments Change of role: DE BRUYN Nicolas Bart, from director to managing director · Resignations: DE BRUYN Edward Jozef, VANDERHOEVEN Freya and DE BRUYN Caroline · Reappointments: VANDERHOEVEN Freya and DE BRUYN Nicolas Bart · General meeting of 18-12-2024 · Gazette deed
4 directors reappointed De Bruyn Edward (managing director), Vanderhoeven Freya (managing director), De Bruyn Caroline and De Bruyn Nicolas · General meeting of 30-10-2019 · Gazette deed
First establishment Bovenhoekstraat 41, Ninove
All 43 events

Comparable companies

same main activity, similar in size and age
Company
CARNIC Ninove €3.7m €1.0m 30.3% -
GEMAR Beveren-Kruibeke-Zwijndrecht €4.1m €1.0m 22.3% 0
OOSTHOEK Bruges €3.4m €0.8m 4.4% -
CARMEL INVEST Oudenaarde €3.3m €0.7m 63.9% -
MASCA PLUS Assenede €3.4m €0.7m 72.2% -
IMMO BEHEER ACAR Waasmunster €3.1m €0.8m 57.9% -
AXEMA Beveren-Kruibeke-Zwijndrecht €5.4m €0.9m 40.9% 0

These companies have the same main activity as CARNIC: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €3.1m and €5.4m, founded between 1989 and 1999.

Official details

Source: KBO
Status
Active since 06-06-1997Normal situation
Activity
Renting and operating of own or leased residential real estate, excluding social housingNACE 68201
Joint committee
323Building management, estate agents and domestic staff · annual accounts 30-09-2023
Establishment unit
2.082.580.0039406 Ninove, since 11-07-1997
Financial year end
30 September
Peppol
Reachable since 20-01-2026
Company details

Annual accounts to 30-09-2025

€1.0m▲ 392%
€581,714
€1.1m▲ 87.3%
€3.7m▲ 16.4%
Filing
Filed on 30-04-2026, on the last day of the filing period
Financials

Insights on CARNIC

CARNIC files the micro format. That format states no turnover. The gross margin rose from €57,989 in 2006 to €1.0m in 2025.

The balance sheet grew most from 2023 to 2025 through fixed assets, financed with long-term debt.

In December 2024, the Official Gazette published the appointment of DE BRUYN Nicolas Bart as managing director.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

micro format, filed on 30-04-2026, on the day of the deadline
€1.0m
▲ 392%
€799,170
▲ €895,283
€967,473
▲ 13×
€750,017
▲ 25×
30.3%
▲ 11.5 percentage points
4.39
▲ 3.29

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €1.0m. Estimated: probably between €950,000 and €1.1m.

In the rankings #10 company by total assets in Ninove, Real estate sector

Money flows

no detail for 2025

Balance sheet

balance sheet total €3.7m on 30-09-2025
What the company ownsHow it is paid for

in €m

in euro

Position in the sector

Compare with sector

30.3%

Higher than 51% of 17,194 companies in 2025.

4.39

Higher than 83% of 16,491 companies in 2025.

15.9%

Higher than 82% of 16,870 companies in 2025.

CARNIC Middle half of the sector 80% of the sector Micro accounts in real estate (NACE 68)

Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter

Staff

Staff costs divided by the average number of full-time equivalents.

Blue and white collar

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 3.7m3.1m2.7m2.2m2.7m2.8m2.4m2.4m2.0m2.2m2.3m1.3m1.5m2.0m2.1m2.2m2.3m2.2m1.4m934,266
21/28 2.7m2.9m2.2m1.6m1.8m1.9m2.1m2.0m1.8m2.0m1.8m1.1m1.3m2.0m2.1m2.2m2.3m1.6m1.3m912,080
22/27 2.7m2.9m2.2m1.6m1.8m1.9m2.1m2.0m1.8m2.0m1.8m1.1m1.3m1.9m2.0m2.1m2.2m1.6m1.3m882,327
22 2.7m2.9m2.2m1.6m1.8m1.9m2.0m2.0m1.8m2.0m1.8m1.1m1.3m1.9m2.0m2.1m2.2m1.6m1.3m862,523
23 -1061,2382,3704,6712,3403,5091863718881,397179239-------
24 -361937502,49713,24421,57034,65542,3779,85712,699-5,03510,07015,10420,1392284561,0351,615
26 ------------------14,75318,189
28 -------------29,75329,75329,75329,75329,75329,75329,753
29/58 947,315236,315448,709601,026918,365887,533359,783408,162143,872242,143511,412184,073195,10120,29821,68429,53417,613613,84029,85322,186
40/41 758,338158,575275,728169,024432,218284,014155,72435,19193,37011,82618,53716,10917,15010,7289,2368,9305,301611,13613,58412,931
40 -49577,500--501-17984,5521,85313,14911,56812,9126,6095,2705,272270575,00013,43911,389
41 758,338158,080198,228169,024432,218283,513155,72435,0128,8189,9735,3884,5414,2384,1193,9663,6585,03136,1361451,542
54/58 175,11470,516160,831422,690477,325594,018194,473372,97150,502230,234492,610167,96412,9519,57012,44820,60412,3122,70416,2699,255
490/1 13,8637,22412,1509,3128,8229,5019,586--83265-165,000-------
Balance sheet: equity and liabilities
10/49 3.7m3.1m2.7m2.2m2.7m2.8m2.4m2.4m2.0m2.2m2.3m1.3m1.5m2.0m2.1m2.2m2.3m2.2m1.4m934,266
10/15 1.1m592,041789,708872,3321.2m1.2m873,624933,3091.1m1.2m1.3m544,528492,27397,659100,614127,353163,383311,501-79,955-4,265
10/11 396,475396,475396,475396,475396,475396,475364,923364,923364,923364,923364,92362,00062,00062,00062,00062,00062,00062,00062,00062,000
10 364,923364,923364,923364,923364,923---------------
100 364,923364,923364,923364,923364,923364,923364,923364,923364,923364,923364,92362,00062,00062,00062,00062,00062,00062,00062,00062,000
11 31,55231,55231,55231,55231,55231,55231,55231,55231,55231,55231,552---------
1100/10 31,55231,55231,55231,55231,55231,55231,55231,55231,55231,55231,552---------
13 1.0m644,304743,895772,7171.1m1.1m805,737856,443911,419954,416987,565480,200449,251423,933423,933423,933423,933423,93316,94616,946
130/1 42,45642,45642,45642,45742,45742,457--------------
130 42,45642,45642,45642,45742,45742,45742,45742,45742,45742,45642,9686,2006,1976,1976,1976,1976,1976,1976,1976,197
132 952,733502,867602,460631,281655,292679,303359,483410,189465,165508,163546,311463,251432,305406,987406,987406,987406,987406,987--
133 34,34898,98098,97998,979449,060414,576403,797403,797403,797403,797398,28610,74910,74910,74910,74910,74910,74910,74910,74910,749
14 -316,889-448,737-350,662-296,860-328,588-328,588-328,588-319,609-191,498-157,730-129,6432,328-18,978-388,274-385,319-358,580-322,550-174,432-158,901-83,211
16 317,578167,622125,859139,705151,532163,35810,21410,21410,21410,21410,214--57,37189,697122,023154,348186,6741,5001,500
160/5 -------------1,5001,5001,5001,5001,5001,5001,500
168 317,578167,622125,859139,705151,532163,35810,21410,21410,21410,21410,214--55,87188,197120,523152,848185,174--
17/49 2.2m2.4m1.7m1.2m1.3m1.4m1.5m1.5m866,7801.0m1.1m740,8291.0m1.8m1.9m1.9m2.0m1.7m1.4m937,031
17 2.0m2.2m1.5m1.0m1.1m1.2m1.3m1.2m538,944605,856428,155142,311347,148792,400874,048955,5311.0m1.1m966,795582,685
170/4 2.0m2.2m1.5m1.0m1.1m1.2m1.3m1.2m538,944605,856428,155142,311347,148792,400874,048955,5311.0m1.1m966,795582,685
42/48 215,811214,593146,184138,767130,376149,515169,277175,465248,399326,717560,238548,724671,3771.0m1.0m977,011927,505637,252473,761347,679
42 137,331133,527101,72592,38689,79587,281117,921101,91067,74969,61259,81524,42142,77381,64881,48381,32577,46397,21370,96374,478
44 95844,5608,22010,1922,00225,47014,5788,24318,2803,55211,8279,6798,7058,4538,63910,01910,27749,00125,09114,280
440/4 95844,5608,22010,1922,00225,47014,5788,24318,2803,55211,8279,6798,7058,4538,63910,01910,27749,00125,09114,280
45 152975485183,9351,7754917691,6259,06787,5421,521106115-2,0081,391793524259
450/3 152975485183,9351,7754917697337,65386,479517106115-2,0081,391793524259
454/9 --------8921,4141,0631,004--------
47/48 77,50736,20835,69135,67134,64434,98936,28764,543160,745244,486401,054513,103619,793917,948912,107883,659838,374490,245377,183258,662
492/3 -15,03379,43879,43779,43779,43779,43779,43779,43775,12865,98649,79427,35022,50022,50016,5009,0008,6678,2166,667
Income statement
70 -------------------22,314
76A 710,397----517,729-5,785--144,217127,609400,933--4,132---124
9900 1.0m204,066172,027167,878191,754687,302192,750161,399176,625109,88163,62154,84777,209148,444124,964107,65570,74177,25948,40757,989
60/61 -------------------14,298
62 ------10964814,62717,61016,39012,4669,400--------
630 168,303171,720212,690128,847145,647162,514203,481281,336164,415118,64581,15866,87279,481115,586114,988114,541187,87987,08675,88554,751
635/8 -------------1,5001,5001,5001,5001,5001,5001,500
640/8 35,661128,45825,55926,13925,55825,00618,92320,98042,8234,66910,5299,94212,84225,97317,4266,96014,05711,66911,88711,872
9901 799,170-96,112-66,22212,89220,549499,891-30,302-155,544-48,223-29,823-40,532-31,367-15,1145,385-8,950-15,346-132,695-22,996-40,865-10,134
75/76B 10,06810,4699,54213,61414,71320,9477,70315,622894641,20341159116032941314,1799,29535192
75 10,06810,4699,54213,61414,71320,9477,703290894641,20341159116032941314,1799,29535192
76B -------15,332------------
65/66B 77,28069,96339,24230,09732,68035,32036,59542,39625,47226,41128,81643,86047,56140,71150,44457,55561,92856,18434,86025,151
65 77,28069,96339,24230,09732,68035,32036,59542,39625,47226,41128,81643,86047,56140,71150,44457,55561,92856,18434,86025,151
9903 731,959-155,606-95,922-3,5912,582485,518-59,194-182,318-73,606-55,77076,07252,793338,849-35,166-59,065-68,356-180,444-69,885-75,690-34,969
780 27,64414,45713,84611,82611,826---------------
680 177,599-------------------
67/77 2892985485183,9351,7754917693,159-16040,280537106115------
9904 581,714-141,447-82,6247,71710,473330,599-59,685-183,087-76,765-55,61035,79252,256338,743-35,281-59,065-68,356-180,444-69,885-75,690-34,969
789 82,93143,37228,82224,01124,01144,76550,70654,97642,99727,52382,27396,662196,91832,32632,32632,32632,32654,354--
689 532,797----364,585----144,217127,609166,365-------
9905 131,848-98,075-53,80231,72834,48410,779-8,979-128,111-33,768-28,087-26,15221,309369,296-2,955-26,739-36,030-148,118-15,531-75,690-34,969
Appropriation of the result
9906 -316,889-448,737-350,662-296,860-294,104-317,809-328,588-319,609-191,498-157,730-23,8242,331-18,978-388,274-385,319-358,580-322,550-174,432-158,901-83,211
14P -448,737-350,662-296,860-328,588-328,588---------------
791/2 64,632--350,081------258,631---------
691/2 ----34,48410,779----364,4503--------
6920 ----------5123--------
6921 ----34,48410,779----363,938---------
694/7 64,632--350,081----------------
694 64,632--350,081----------------
Social balance sheet
9087 -------0.50.50.50.50.4--------
Hours worked1013 -------811811807660640--------
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 8 older financial years (1998-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 30-04-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
30-09-2025 micro format 30-04-2026 2026-00096464 PDF
30-09-2024 micro format 30-04-2025 2025-00081570 PDF
30-09-2023 micro format 30-04-2024 2024-00074491 PDF
30-09-2022 micro format 31-03-2023 2023-00051605 PDF
30-09-2021 micro format 22-04-2022 2022-20006620 PDF
30-09-2020 micro format 29-04-2021 2021-12200312 PDF
30-09-2019 micro format 29-04-2020 2020-10600392 PDF
30-09-2018 micro format 02-05-2019 2019-12100417 PDF
30-09-2017 micro format 24-04-2018 2018-10400424 PDF
30-09-2016 abbreviated format 27-04-2017 2017-10600420 PDF
30-09-2015 abbreviated format 30-03-2016 2016-08200294 PDF
30-09-2014 abbreviated format 31-03-2015 2015-08600475 PDF
30-09-2013 abbreviated format 28-04-2014 2014-10600024 PDF
30-09-2012 abbreviated format 30-05-2013 2013-18100071 PDF
30-09-2011 abbreviated format 26-04-2012 2012-10100589 PDF
30-09-2010 abbreviated format 29-04-2011 2011-09700095 PDF
30-09-2009 abbreviated format 30-05-2010 2010-13500535 PDF
30-09-2008 abbreviated format 30-04-2009 2009-12700271 PDF
30-09-2007 abbreviated format 10-04-2008 2008-10300074 PDF
30-09-2006 abbreviated format 26-04-2007 2007-12800140 PDF
30-09-2005 abbreviated format 26-04-2006 2006-12201264 PDF
30-09-2004 abbreviated format 29-04-2005 2005-13702583 PDF
30-09-2003 abbreviated format 19-03-2004 2004-08001024 PDF
30-09-2002 abbreviated format 21-03-2003 2003-08004438 PDF
30-09-2001 abbreviated format 26-03-2002 2002-07703652 PDF
30-09-2000 abbreviated format 09-03-2001 2001-06203883 PDF
30-09-1999 abbreviated format 31-03-2000 2000-08402439 PDF
30-09-1998 abbreviated format 29-03-1999 1999-07001490 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
967,47375,608146,468141,739166,196662,405173,179125,792116,19288,82240,62635,50564,367120,971106,03899,19555,18464,09035,02044,617
750,01730,273130,066136,564156,120493,113143,79698,24987,65063,035116,950119,128418,22480,30555,92346,1857,43517,20119519,782
22,798876,020774,3348,0004,52823,715265,1151.0m45,000280,00055,214-174,8912995,97813,50829,754844,423437,233504,26912,406
104,598-90,315-261,859-54,635-116,693399,545-178,498322,469-179,732-262,376324,646155,0133,381-2,878-8,1568,2929,608-13,5657,014-
731,50421,722302,525462,259787,989738,018190,506232,697-104,527-84,574-48,826-364,651-476,276-987,866-980,545-947,477-909,892-23,412-443,908-325,493
--------------------45.4%
30.3%18.8%29.7%38.8%45.2%43.1%36.1%38.8%56.0%54.0%54.1%42.4%32.0%4.9%4.8%5.8%7.2%14.1%-5.8%-0.5%
4.391.103.074.337.045.942.132.330.580.740.910.340.290.020.020.030.020.960.060.06
2.024.042.211.421.091.191.761.570.780.840.841.362.1218.6718.8715.3011.965.50--
52.4%-23.9%-10.5%0.9%0.9%27.5%-6.8%-19.6%-6.9%-4.7%2.9%9.6%68.8%-36.1%-58.7%-53.7%-110.4%-22.4%--
15.9%-4.5%-3.1%0.3%0.4%11.8%-2.5%-7.6%-3.9%-2.5%1.5%4.1%22.0%-1.8%-2.8%-3.1%-7.9%-3.2%-5.5%-3.7%
12.521.083.734.715.09---------------
-------------------186 days
-------------------365 days

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Securities and guarantees

on own assets and for others
Item30-09-202530-09-202430-09-202330-09-202230-09-2021
Mortgages, amount registered--€737,000€125,000€125,000
--€1.5m--
Carrying value of the mortgaged assets--€1.9m€729,701€764,121

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item30-09-202530-09-202430-09-202330-09-202230-09-2021
Tangible fixed assets€22,798€876,020€774,334€8,000€4,528
€168,303€171,720€212,690€128,847€145,647

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on CARNIC

The operating result for 2025 is a profit of €799,170, after a loss of €96,112 in 2024. It is the highest result since 2006.

Debt's share of the balance-sheet total falls from 75.9% to 61.1%. Equity is higher and debt is lower.

Board & ownership

Board

3 directors, 1 in day-to-day management, last change in 2024
De Bruyn Nicolas
Director
current term since 18-12-2024
listed in the 2025 annual accounts, filed on 30-04-2026
DE BRUYN Nicolas Bart
Director and managing director
director since 18-12-2024 managing director appointed by deed of 20-12-2024 6-year term from 2024
listed in the 2025 annual accounts, filed on 30-04-2026
VANDERHOEVEN Freya
Director
since 18-12-2024 6-year term from 2024
listed in the 2025 annual accounts, filed on 30-04-2026
DE BRUYN Nicolas Bart
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“1. 16 - Vertegenwoordiging van de vennootschap De vennootschap wordt geldig vertegenwoordigd door twee bestuurders of door één gedelegeerd…”
deed of 20-12-2024

Office holders in the KBO →

Mandates through the years

6 names, the dashed line is today
De Bruyn Nicolas
Director
DE BRUYN Nicolas Bart
Director, Managing director
VANDERHOEVEN Freya
Director
DE BRUYN Caroline
Director
DE BRUYN Edward Jozef
Director
De Bruyn Edward
Director
LeadershipBoardEarlierRest of the termmandate already running before its first mentionend not dated
Mandates as a list
  • De Bruyn Nicolas
    • Director, since before 01-11-2019
  • DE BRUYN Nicolas Bart
    • Director, from 01-11-2019 to date
    • Managing director, appointed by deed of 20-12-2024, still in office
  • VANDERHOEVEN Freya
    • Director, since before 01-11-2019
    • Managing director, from before 06-01-2020, ended, last mentioned on 06-01-2020
  • DE BRUYN Caroline
    • Director, from before 01-11-2019 to 20-12-2024
  • DE BRUYN Edward Jozef
    • Director, from 01-11-2019 to 20-12-2024
  • De Bruyn Edward
    • Director, from before 01-11-2019, last mentioned in 2020

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Capital
€364,923.20
Shares
562
Contribution per share
€649
Equity per share
€1,974 in 2025
Source
deed of 20-12-2024

Articles of association

deed of 20-12-2024 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
At least 3 directors
Term of at most 6 years
Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
“Overdrachten+overgangen aan derden niet-aandeelhouders onderworpen aan B-inter vivos en C-overlijden behoudens wettelijke uitzonderingen…”
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
“1. ALGEMENE VERGADERING 1. 19 - Algemene vergadering De gewone algemene vergadering van aandeelhouders, jaarvergadering genoemd, moet ieder…”

Network & group

No group

CARNIC has no parent and no holdings in its annual accounts. CARNIC shares no director with another company.

At the same address

Bovenhoekstraat 39, 9406 Ninove · 5 other companies
Nicolas De Bruyn Academy
registered office since 06-04-2006 · founded in 2006
 8.4 FTE (2025)
0880.650.528
ON LINE FITNESS
registered office since 15-11-1994 · founded in 1994
 8.4 FTE (2025)
0453.170.340
Fitness Liedekerke
establishment since 01-09-2025 · founded in 2021 · group Stichting Administratiekantoor Saffelberg
 11 FTE (2025)
0777.946.334
BODY BUSINESS
registered office since 20-03-2003 · founded in 2001
 0.7 FTE (2025)
0475.464.108
Wellness Ninove
registered office since 17-11-2025
 founded in 2025
1030.427.634

Timeline

Timeline

43 events since 1997

Deadline for the 2026 accounts: 30-04-2027

2026
Annual accounts 2025 filed PDFmicro format · on the deadline day
Registered in the Peppol Directory Reachable for e-invoices through 0208:0460812752
2025
Back to profit net €581,714 The net result is €581,714, after 2 loss-making years.
Liquidity more than triples current ratio 4.39 The current ratio rises from 1.10 to 4.39.
Annual accounts 2024 filed PDFmicro format · on the deadline day
2024
3 directors resigning, 2 reappointmentsChange of role: DE BRUYN Nicolas Bart, from director to managing director · Resignations: DE BRUYN Edward Jozef, VANDERHOEVEN Freya and DE BRUYN Caroline · Reappointments: VANDERHOEVEN Freya and DE BRUYN Nicolas Bart · General meeting of 18-12-202415 points ▸

Open the deed in the Belgian Official Gazette

Annual accounts 2023 filed PDFmicro format · on the deadline day
2023
Annual accounts 2022 filed PDFmicro format · 30 days before the deadline
2022
Annual accounts 2021 filed PDFmicro format · 8 days before the deadline
2021
Annual accounts 2020 filed PDFmicro format · 1 day before the deadline
2020
Back to profit net €330,599 The net result is €330,599, after 4 loss-making years.
Liquidity more than doubled current ratio 5.94 The current ratio rises from 2.13 to 5.94. Short-term debt falls from €169,277 to €149,515.
Annual accounts 2019 filed PDFmicro format · 1 day before the deadline
4 directors reappointedDe Bruyn Edward (managing director), Vanderhoeven Freya (managing director), De Bruyn Caroline and De Bruyn Nicolas · General meeting of 30-10-20197 points ▸

Open the deed in the Belgian Official Gazette

2019
Annual accounts 2018 filed PDFmicro format · 2 days late
2018
Weakest financial year net -€183,087 The net result drops to -€183,087, the lowest from 2006 to 2025. It recovers the following year.
Liquidity quadruples current ratio 2.33 The current ratio rises from 0.58 to 2.33. Short-term debt falls from €248,399 to €175,465.
Annual accounts 2017 filed PDFmicro format · 6 days before the deadline
2017
Annual accounts 2016 filed PDFabbreviated format · 3 days before the deadline
2016
Annual accounts 2015 filed PDFabbreviated format · 31 days before the deadline
2015
Equity above €1m equity €1.3m ▲130% After 3 profitable years in a row, equity reaches €1.3m.
Annual accounts 2014 filed PDFabbreviated format · 30 days before the deadline
2014
Equity above €500,000 equity €544,528 ▲10.6% After 2 profitable years in a row, equity reaches €544,528.
Annual accounts 2013 filed PDFabbreviated format · 2 days before the deadline
2013
Back to profit net €338,743 The net result is €338,743, after 7 loss-making years.
Annual accounts 2012 filed PDFabbreviated format · 30 days late
2012
Annual accounts 2011 filed PDFabbreviated format · 4 days before the deadline
2011
Annual accounts 2010 filed PDFabbreviated format · 1 day before the deadline
2010
Annual accounts 2009 filed PDFabbreviated format · 30 days late
2009
Annual accounts 2008 filed PDFabbreviated format · on the deadline day
2008
Equity above €200,000 equity €311,501 Equity rises from -€79,955 to €311,501.
Annual accounts 2007 filed PDFabbreviated format · 20 days before the deadline
2007
Annual accounts 2006 filed PDFabbreviated format · 4 days before the deadline
2006
Annual accounts 2005 filed PDFabbreviated format
2005
Annual accounts 2004 filed PDFabbreviated format
2004
Annual accounts 2003 filed PDFabbreviated format
2003
Annual accounts 2002 filed PDFabbreviated format
2002
Annual accounts 2001 filed PDFabbreviated format
2001
Annual accounts 2000 filed PDFabbreviated format
2000
Annual accounts 1999 filed PDFabbreviated format
1999
Annual accounts 1998 filed PDFabbreviated format
1997
First establishment Bovenhoekstraat 41, Ninove
Incorporation published on 18-06-1997

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

CARNIC was incorporated on 6 June 1997.1 Total assets rose from €2.4m in 2019 to €3.7m in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2019 and 2025

Company details

Identity

Enterprise number
0460.812.752
VAT number
BE 0460.812.752
Peppol ID
0208:0460812752
Other Peppol ID
9925:BE0460812752
Legal form
Public limited company
Status
Active, normal situation
Founded
06-06-1997
Financial year
ends on 30 September
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
“1. ALGEMENE VERGADERING 1. 19 - Algemene vergadering De gewone algemene vergadering van aandeelhouders, jaarvergadering genoemd, moet ieder…”
deed of 20-12-2024 (in Dutch)
Peppol
Reachable since 20-01-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
CARNIC in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 20-12-2024 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 20-12-2024 (in Dutch)

Activities

NACEBEL 2025
68201 Renting and operating of own or leased residential real estate, excluding social housing main activity
Joint committees annual accounts 30-09-2023
JC 323 Building management, estate agents and domestic staff
Codes under NACEBEL 2008
68201 Real estate activities main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“Haar vermogen gevormd door inbrengsten,aanwassen en opbrengsten voortkomende uit diensten en bestaande uit roerende en onroerende…”
13 activities
  1. Haar vermogen gevormd door inbrengsten,aanwassen en opbrengsten voortkomende uit diensten en bestaande uit roerende en onroerende goederen,te behouden,te beheren,oordeelkundig uit te breiden en eventueel op optimale momenten,of wanneer de gebiedende omstandigheden haar daartoe dwingen,te realiseren
  2. Zich voornamelijk inlaten met dienstverlening inzake het verstrekken van raad en bijstand in juridische,commerciële,financiële,administratieve en bedrijfseconomische aangelegenheden het bevorderen van de oprichting van vennootschappen door inbreng,participatie of investering,het optreden als tussenpersoon bij onderhandelingen inzake gehele of gedeeltelijke overname van aandelen of aktiva van ondernemingen,het waarnemen van bestuurs-en beheersopdrachten bij derde ondernemingen zowel als bestuurder,gedelegeerd-bestuurder,externe consultant of direktiefunctie
  3. Zich inlaten met het ontwikkelen,verwerven,verhandelen of in licentie-geven van oktrooien,patenten,know-how,merken en aanverwante immateriële vaste aktiva,al dan niet mits het verrichten van het noodzakelijk wetenschappelijk onderzoek daarop betrekking hebbende
  4. Binnen kader voorwerp overgaan tot aankopen,uitrusten,valoriseren,bouwen,verhuren,of in huur nemen van onroerende goederen,al dan niet bemeubeld
  5. Alle roerende en onroerende goederen,materialen en benodigdheden verwerven,huren of verhuren,vervaardigen,overdragen of ruilen en,in het algemeen,alle financiële handelingen verrichten,welke rechtstreeks of onrechtstreeks in verband staan met haar voorwerp,met inbegrip van onderaanneming in het algemeen,en uitbating van alle intellectuele rechten en industriële of commerciële eigendommen die er betrekking op hebben
  6. Alle roerende en onroerende goederen als investering verwerven,zelfs als deze noch rechtstreeks noch onrechtstreeks verband houden met voorwerp
  7. Aankoop,verkoop,overdracht,ruiling en beheer van roerende waarden,aandelen,deelbewijzen,obligaties,staatsfondsen,van alle roerende en onroerende goederen en rechten
  8. Deelneming onder gelijk welke vorm in industriële en commerciële,landbouw-,financiële,onroerende vennootschappen en ondernemingen,bestaande of op te richten,alsmede alle investeringen,financiële verrichtingen,met uitzondering van deze door wet voorbehouden aan depositokassen en private spaarkassen
  9. Bij wijze van aankoop,ruiling,inbreng,intekening,vaste opname,aankoopoptie of op gelijk welke andere wijze,alle titels,waarden,schuldvorderingen en onlichamelijke rechten verkrijgen;deelnemer aan alle verenigingen en fusie
  10. Haar aandelen-en participatieportefeuille beheren en in waarde stellen,onder meer bij middel van beheer,toezicht,kontrole,documentatie,financiële en andere bijstand aan vennootschappen en ondernemingen waarin zij belangen heeft;deze waarden verwezenlijken of vereffenen bij middel van overdracht of op andere wijze
  11. Bestuur waarnemen,toezicht houden en kontrole uitoefenen over alle verbonden vennootschappen,met dewelke een of andere band van deelneming bestaat en alle leningen,van gelijk welke vorm en voor gelijk welke duur,aan deze laatste toestaan
  12. Bij wijze van inbreng in speciën of in natura van fusie,inschrijving,deelneming,financiële tussenkomst of op andere wijze,een aandeel nemen in alle bestaande of op te richten vennootschappen of bedrijven,in België of buitenland,waarvan voorwerp identiek,gelijkaardig of verwant is,of van aard is uitoefening voorwerp te bevorderen
  13. Lijst exemplatief en niet beperkend
deed of 20-12-2024 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
Bovenhoekstraat 39 registered office 9406 Ninove
Bovenhoekstraat 41 9406 Ninove 11-07-1997 2.082.580.003

Buildings and parcels at the addresses

Ground area
3,098 m²
Buildings
2,201 m²
Volume, LiDAR
4,863 m³
Tallest building
15.6 m
Buildings to scale, each on its own parcel
2,013 m², 15.6 m 188 m², 9.6 m 2,013 m², 15.6 m 188 m², 9.6 m

Location

registered office establishment The establishment unit on the map
6 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
41055B0738/00H0002,818 m² 1 · 2,013 m² 15.6 m · 1
41055B0739/00D002279 m² 1 · 188 m² 9.6 m · 1

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