Carnova
ActiveSummary
Carnova has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.7m and a net result of €130,258. Equity is growing by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 95% of 3330 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €140,000 at 30 days acceptable
Liquidity ample (current ratio 13.96 against 12.35 in 2024; short-term debt: 2% and cash: 1.9% of total assets), and 2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
98%
Return on assets
7.4%
Age of the figures
12 mo
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
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 27-04-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
3 d early
2023
21 d early
2022
7 d early
2021
23 d early
2020
48 d early
2019
47 d early
← 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 22 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€1.7m▲ 8.2%
2024 · €1.6m
Total assets
€1.8m▲ 8.4%
2024 · €1.6m
Net result
€130,258▲ 14.1%
2024 · €114,182
Working capital
€455,917▲ 42.0%
2024 · €320,959
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€152,124▼ 20.8%€159,967▲ 5.2%€174,459▲ 9.1%€162,226▼ 7.0%€183,570▲ 13.2%
Net result€378,400above the sector's middle half▲ 209%€107,695within the sector's middle half▼ 71.5%€117,637within the sector's middle half▲ 9.2%€114,182within the sector's middle half▼ 2.9%€130,258within the sector's middle half▲ 14.1%
Equity€2.0mabove the sector's middle half▲ 23.9%€1.4mabove the sector's middle half▼ 30.2%€1.5mabove the sector's middle half▲ 8.6%€1.6mabove the sector's middle half▲ 7.7%€1.7mabove the sector's middle half▲ 8.2%
Total assets€2.0mwithin the sector's middle half▲ 24.1%€1.4mwithin the sector's middle half▼ 29.7%€1.5mwithin the sector's middle half▲ 7.8%€1.6mwithin the sector's middle half▲ 6.6%€1.8mwithin the sector's middle half▲ 8.4%
Debt€53,951▲ 28.8%€49,298▼ 8.6%€42,262▼ 14.3%€28,267▼ 33.1%€35,169▲ 24.4%
Working capital€694,010above the sector's middle half▲ 86.8%€108,018within the sector's middle half▼ 84.4%€225,655within the sector's middle half▲ 109%€320,959within the sector's middle half▲ 42.2%€455,917within the sector's middle half▲ 42.0%
Solvency97.3%above the sector's middle half▼ 0.1pp96.5%above the sector's middle half▼ 0.8pp97.2%above the sector's middle half▲ 0.7pp98.3%above the sector's middle half▲ 1.0pp98.0%above the sector's middle half▼ 0.3pp
Current ratio13.86above the sector's middle half▲ 3.993.19within the sector's middle half▼ 10.676.34above the sector's middle half▲ 3.1512.35above the sector's middle half▲ 6.0213.96above the sector's middle half▲ 1.61
Return on assets (ROA)18.8%above the sector's middle half▲ 11.2pp7.6%within the sector's middle half▼ 11.2pp7.7%within the sector's middle half▲ 0.1pp7.0%within the sector's middle half▼ 0.7pp7.4%within the sector's middle half▲ 0.4pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 13% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€1.3m ▼ 0.4%
Current assets
€491,086 ▲ 40.6%
Equity and liabilities €1.8m
Equity
€1.7m ▲ 8.2%
Debt
€35,169 ▲ 24.4%
Debt's share of the balance-sheet total rises from 1.7% to 2.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€188,270▲
2024 · €166,849
Cash flow
€134,958▲
2024 · €118,805
Debt to equity
0.02▲
2024 · 0.02
ROE
7.5%▲
2024 · 7.1%
Interest coverage
985.71▼
2024 · 2139.09
Debt ≤ 1 year
€35,169▲
2024 · €28,267
Income taxes
€63,614▲
2024 · €55,280
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,971 | €6,313 | - | €4,623 | €4,700 | ▲ 1.7% |
| Other operating charges640/8 | €2,014 | €2,115 | €2,179 | €3,475 | €3,018 | ▼ 13.2% |
| Gross operating margin9900 | €169,109 | €168,395 | €176,638 | €170,324 | €191,288 | ▲ 12.3% |
| Operating profit (loss)9901 | €152,124 | €159,967 | €174,459 | €162,226 | €183,570 | ▲ 13.2% |
| Financial income75/76B | €304,849 | - | - | €7,314 | €10,493 | ▲ 43.5% |
| Recurring financial income75 | €304,849 | - | - | €7,314 | €10,493 | ▲ 43.5% |
| Financial charges65/66B | €104 | €263 | €115 | €78 | €191 | ▲ 145% |
| Recurring financial charges65 | €104 | €263 | €115 | €78 | €191 | ▲ 145% |
| Profit (loss) for the period before taxes9903 | €456,869 | €159,704 | €174,344 | €169,462 | €193,872 | ▲ 14.4% |
| Income taxes67/77 | €78,469 | €52,009 | €56,707 | €55,280 | €63,614 | ▲ 15.1% |
| Profit (loss) for the period9904 | €378,400 | €107,695 | €117,637 | €114,182 | €130,258 | ▲ 14.1% |
| Profit (loss) for the period to be appropriated9905 | €378,400 | €107,695 | €117,637 | €114,182 | €130,258 | ▲ 14.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.0m | €1.4m | €1.5m | €1.6m | €1.8m | ▲ 8.4% |
| Fixed assets21/28 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | ▼ 0.4% |
| Tangible fixed assets22/27 | €69,257 | €62,944 | €62,944 | €81,822 | €77,122 | ▼ 5.7% |
| Land and buildings22 | €62,314 | €62,314 | €62,314 | €62,314 | €62,314 | = |
| Furniture and vehicles24 | €6,313 | - | - | €18,878 | €14,178 | ▼ 24.9% |
| Other tangible fixed assets26 | €630 | €630 | €630 | €630 | €630 | = |
| Financial fixed assets28 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Current assets29/58 | €747,961 | €157,316 | €267,917 | €349,226 | €491,086 | ▲ 40.6% |
| Amounts receivable within one year40/41 | €88,077 | €20,686 | €19,965 | €39,777 | €56,933 | ▲ 43.1% |
| Trade receivables40 | €20,687 | €20,686 | €19,965 | €19,965 | €19,965 | = |
| Other amounts receivable41 | €67,390 | €0 | - | €19,812 | €36,968 | ▲ 86.6% |
| Current investments50/53 | - | - | - | €290,000 | €400,000 | ▲ 37.9% |
| Cash at bank and in hand54/58 | €659,884 | €136,630 | €247,952 | €19,449 | €34,153 | ▲ 75.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.0m | €1.4m | €1.5m | €1.6m | €1.8m | ▲ 8.4% |
| Equity10/15 | €2.0m | €1.4m | €1.5m | €1.6m | €1.7m | ▲ 8.2% |
| Contributions10/11 | €1.2m | €502,667 | €502,667 | €502,667 | €502,667 | = |
| Reserves13 | €762,426 | €863,454 | €981,091 | €1.1m | €1.2m | ▲ 11.9% |
| Non-distributable reserves130/1 | €21,000 | - | - | - | - | - |
| Reserves not available under the articles1311 | €21,000 | - | - | - | - | - |
| Distributable reserves133 | €741,426 | €863,454 | €981,091 | €1.1m | €1.2m | ▲ 11.9% |
| Amounts payable17/49 | €53,951 | €49,298 | €42,262 | €28,267 | €35,169 | ▲ 24.4% |
| Amounts payable within one year42/48 | €53,951 | €49,298 | €42,262 | €28,267 | €35,169 | ▲ 24.4% |
| Trade debts44 | €1,361 | €1,255 | €1,028 | €814 | €103 | ▼ 87.3% |
| Suppliers440/4 | €1,361 | €1,255 | €1,028 | €814 | €103 | ▼ 87.3% |
| Taxes, remuneration and social security45 | €52,590 | €26,059 | €30,469 | €27,453 | €35,066 | ▲ 27.7% |
| Taxes450/3 | €52,590 | €26,059 | €30,469 | €27,453 | €35,066 | ▲ 27.7% |
| Other amounts payable47/48 | - | €21,984 | €10,765 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €378,400 | €107,695 | €117,637 | €114,182 | €130,258 | ▲ 14.1% |
| + Depreciation and write-downs630 | €14,971 | €6,313 | - | €4,623 | €4,700 | ▲ 1.7% |
| Operating cash flow (approximation) | €393,371 | €114,008 | €117,637 | €118,805 | €134,958 | ▲ 13.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€23,501 | €0 | ▲ 100% |
| Change in cash | - | -€523,254 | €111,322 | -€228,503 | €14,704 | ▲ 106% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
09-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
23-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
07-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Highest result since 2018net €378,400 ▲209%
Net result €378,400, the highest in the series.
13-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
14-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Weakest financial yearnet €79,111 ▼19.2%
Net result drops to €79,111, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity times 5current ratio 13.83
Current ratio from 3.02 to 13.83; short-term debt falls from €78,005 to €18,970.
21-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
20-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
04-04
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.
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, Anzegem · 1 establishment unit since 2014
Ground area
1,203 m²
Building footprint
216 m²
Volume, LiDAR
1,027 m³
Parcel 34002D0031/00H000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Carnova
since 20142.239.427.122
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34002D0031/00H000 | Flanders | 1,203 m² | 1 · 216 m² | 8.1 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.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 30-09-2025 list no shareholders, and no other source names one.
Holdings 2
-
35%
-
33%
According to the annual accounts to 30-09-2025 of Carnova and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 2,264 companies in sector 69209 we hold annual accounts for 1,101. 482 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded05-12-2014
Fiscal year end30-09
Activities, NACEBEL 2025
69209Other tax advisory services
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0505966846
Also
9925:BE0505966846
Registered
03-11-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.