CARNOX
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 10-07-2026 at the NBB all 42 filings
Turnover
≈ €1.7m
Estimated: probably between €650,000 and €3.1m
EBIT margin
Not included in this filing
Net result
€153,464▼ 41.3%
2024 · €261,660
Working capital
€47,981▼ 91.0%
2024 · €533,840
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€225,945
▼ 40.7%
2025
20182025
Net result
€153,464
▼ 41.3%
2025
middle half of the sector
20182025
Equity
€1.5m
▼ 24.5%
2025
middle half of the sector
20182025
Total assets
€2.1m
▼ 3.9%
2025
middle half of the sector
20182025
Debt
€579,306
▲ 248%
2025
20182025
Working capital
€47,981
▼ 91.0%
2025
lowest quarter of the sector
20182025
Solvency
72.6%
▼ 19.8pp
2025
highest quarter of the sector
20182025
Current ratio
1.09
▼ 3.90
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
7.3%
▼ 4.6pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.3m-€0.5m▲ 63.7%€0.3m▼ 39.6%€0.3m▲ 5.9%€0.2m▼ 25.8%€0.3m▲ 29.5%€0.4m▲ 21.8%€0.2m▼ 40.7%
Net result€0.2m-€0.3m▲ 62.4%€0.2mabove the sector's middle half▼ 29.1%€0.2mabove the sector's middle half▲ 5.4%€0.2mwithin the sector's middle half▼ 25.4%€0.2mabove the sector's middle half▲ 16.7%€0.3mabove the sector's middle half▲ 26.1%€0.2mwithin the sector's middle half▼ 41.3%
Equity€1.8m-€2.1m▲ 17.9%€2.1mabove the sector's middle half▼ 0.2%€2.3mabove the sector's middle half▲ 11.4%€2.4mabove the sector's middle half▲ 3.1%€2.3mabove the sector's middle half▼ 4.5%€2.0mabove the sector's middle half▼ 11.5%€1.5mwithin the sector's middle half▼ 24.5%
Total assets€2.0m-€2.2m▲ 10.7%€2.3mwithin the sector's middle half▲ 4.8%€2.4mwithin the sector's middle half▲ 3.6%€2.5mwithin the sector's middle half▲ 4.8%€2.4mwithin the sector's middle half▼ 2.1%€2.2mwithin the sector's middle half▼ 10.2%€2.1mwithin the sector's middle half▼ 3.9%
Debt€0.2m-€0.1m▼ 52.1%€0.2m▲ 112%€0.05m▼ 74.3%€0.1m▲ 77.4%€0.2m▲ 59.8%€0.2m▲ 9.3%€0.6m▲ 248%
Working capital€0.2m-€0.5m▲ 159%€0.5mwithin the sector's middle half▲ 1.0%€0.8mwithin the sector's middle half▲ 46.4%€0.9mabove the sector's middle half▲ 11.2%€0.8mwithin the sector's middle half▼ 10.9%€0.5mwithin the sector's middle half▼ 32.1%€0.05mbelow the sector's middle half▼ 91.0%
Solvency89.6%-95.5%▲ 5.9pp90.9%above the sector's middle half▼ 4.6pp97.7%above the sector's middle half▲ 6.8pp96.2%above the sector's middle half▼ 1.6pp93.8%above the sector's middle half▼ 2.4pp92.4%above the sector's middle half▼ 1.4pp72.6%above the sector's middle half▼ 19.8pp
Current ratio2.01-6.43▲ 4.433.59above the sector's middle half▼ 2.8416.57above the sector's middle half▲ 12.9811.24above the sector's middle half▼ 5.336.99above the sector's middle half▼ 4.254.99above the sector's middle half▼ 2.001.09below the sector's middle half▼ 3.90
Return on assets (ROA)9.9%-14.5%▲ 4.6pp9.8%within the sector's middle half▼ 4.7pp10.0%within the sector's middle half▲ 0.2pp7.1%within the sector's middle half▼ 2.9pp8.5%within the sector's middle half▲ 1.4pp11.9%above the sector's middle half▲ 3.4pp7.3%within the sector's middle half▼ 4.6pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 operating result for 2025 is 41% lower than in 2024 and the lowest since 2018.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.1m
Fixed assets
€1.5m =
Current assets
€581,681 ▼ 12.9%
Equity and liabilities €2.1m
Equity
€1.5m ▼ 24.5%
Debt
€579,306 ▲ 248%
Debt's share of the balance-sheet total rises from 7.6% to 27.4%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
0.38▲
2024 · 0.08
ROE
10.0%▼
2024 · 12.9%
Debt ≤ 1 year
€533,700▲
2024 · €133,783
Income taxes
€72,179▼
2024 · €122,513
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,498 | €10,498 | €10,498 | €10,498 | €9,771 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €1,617 | €1,740 | €1,900 | €1,861 | €1,647 | ▼ 11.5% |
| Gross operating margin9900 | €323,831 | €520,690 | €319,444 | €337,653 | €253,057 | €314,757 | €383,063 | €227,592 | ▼ 40.6% |
| Operating profit (loss)9901 | €310,809 | €508,728 | €307,472 | €325,538 | €241,546 | €312,857 | €381,202 | €225,945 | ▼ 40.7% |
| Financial income75/76B | - | - | - | €0 | - | - | €3,139 | - | - |
| Recurring financial income75 | - | €1 | €0 | €0 | - | - | €3,139 | - | - |
| Financial charges65/66B | - | - | - | €127 | €276 | €162 | €168 | €301 | ▲ 78.9% |
| Recurring financial charges65 | €4,363 | €2,100 | €129 | €127 | €276 | €162 | €168 | €301 | ▲ 78.9% |
| Profit (loss) for the period before taxes9903 | €306,446 | €506,629 | €307,343 | €325,411 | €241,270 | €312,695 | €384,173 | €225,644 | ▼ 41.3% |
| Income taxes67/77 | €109,726 | €187,152 | €80,972 | €86,903 | €63,417 | €105,205 | €122,513 | €72,179 | ▼ 41.1% |
| Profit (loss) for the period9904 | €196,720 | €319,477 | €226,371 | €238,508 | €177,853 | €207,490 | €261,660 | €153,464 | ▼ 41.3% |
| Profit (loss) for the period to be appropriated9905 | €196,720 | €319,477 | €226,371 | €238,508 | €177,853 | €207,490 | €261,660 | €153,464 | ▼ 41.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.0m | €2.2m | €2.3m | €2.4m | €2.5m | €2.4m | €2.2m | €2.1m | ▼ 3.9% |
| Fixed assets21/28 | €1.6m | €1.6m | €1.6m | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Tangible fixed assets22/27 | €0.04m | €0.03m | €0.02m | €0.01m | €0 | €0 | €0 | €0 | - |
| Land and buildings22 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Furniture and vehicles24 | - | - | - | €0.01m | €0 | €0 | €0 | €0 | - |
| Financial fixed assets28 | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Current assets29/58 | €0.4m | €0.6m | €0.8m | €0.8m | €1.0m | €0.9m | €0.7m | €0.6m | ▼ 12.9% |
| Amounts receivable within one year40/41 | €0.3m | €0.6m | €0.6m | €0.8m | €1.0m | €0.9m | €0.2m | €0.5m | ▲ 237% |
| Trade receivables40 | - | - | - | €0.8m | €0.9m | €0.9m | €0.2m | €0.09m | ▼ 39.5% |
| Other amounts receivable41 | - | - | - | €52 | €0.002m | - | - | €0.4m | - |
| Current investments50/53 | - | - | - | - | - | - | €0.4m | - | - |
| Cash at bank and in hand54/58 | €0.07m | €0.06m | €0.1m | €0.02m | €0.02m | €0.02m | €0.1m | €0.07m | ▼ 35.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.004m | €0.002m | ▼ 52.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.0m | €2.2m | €2.3m | €2.4m | €2.5m | €2.4m | €2.2m | €2.1m | ▼ 3.9% |
| Equity10/15 | €1.8m | €2.1m | €2.1m | €2.3m | €2.4m | €2.3m | €2.0m | €1.5m | ▼ 24.5% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €1.5m | €1.9m | €1.6m | €1.6m | €1.5m | €1.4m | €1.2m | €0.7m | ▼ 43.2% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | - | €0.006m | €0.006m | = |
| Reserves not available under the articles1311 | - | - | - | - | - | €0.006m | - | - | - |
| Distributable reserves133 | - | - | - | €1.6m | €1.5m | €1.4m | €1.1m | €0.6m | ▼ 43.5% |
| Profit (loss) carried forward14 | €0.2m | €0.2m | €0.4m | €0.6m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Amounts payable17/49 | €0.2m | €0.1m | €0.2m | €0.05m | €0.1m | €0.2m | €0.2m | €0.6m | ▲ 248% |
| Amounts payable within one year42/48 | €0.2m | €0.1m | €0.2m | €0.05m | €0.09m | €0.1m | €0.1m | €0.5m | ▲ 299% |
| Trade debts44 | €0.08m | €25 | €38 | €0.01m | €28 | €0.001m | €0.008m | €0.009m | ▲ 6.9% |
| Suppliers440/4 | - | - | - | €0.01m | €28 | €0.001m | €0.008m | €0.009m | ▲ 6.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.04m | €0.08m | €0.1m | €0.1m | €0.02m | ▼ 81.1% |
| Taxes450/3 | - | - | - | €0.04m | €0.08m | €0.1m | €0.1m | €0.02m | ▼ 84.0% |
| Remuneration and social security454/9 | - | - | - | - | - | - | - | €0.004m | - |
| Other amounts payable47/48 | - | - | - | €0.002m | €0.002m | €0.002m | €15 | €0.5m | ▲ 34,441× |
| Accrued charges and deferred income492/3 | - | - | - | €0.003m | €0.009m | €0.02m | €0.03m | €0.05m | ▲ 39.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €196,720 | €319,477 | €226,371 | €238,508 | €177,853 | €207,490 | €261,660 | €153,464 | ▼ 41.3% |
| + Depreciation and write-downs630 | €10,498 | €10,498 | €10,498 | €10,498 | €9,771 | - | - | - | - |
| Operating cash flow (approximation) | €207,218 | €329,975 | €236,869 | €249,006 | €187,625 | €207,490 | €261,660 | €153,464 | ▼ 41.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€2,333 | €49,242 | -€92,446 | -€3,759 | €2,825 | €94,644 | -€39,840 | - |
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 42 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 10-07-2026 | 2026-00279616 | |
| 31-12-2024 | abbreviated format | 09-07-2025 | 2025-00247576 | |
| 31-12-2023 | abbreviated format | 03-06-2024 | 2024-00106490 | |
| 31-12-2022 | abbreviated format | 07-07-2023 | 2023-00214509 | |
| 31-12-2021 | abbreviated format | 28-06-2022 | 2022-20140466 | |
| 31-12-2020 | abbreviated format | 28-06-2021 | 2021-25500365 | |
| 31-12-2019 | abbreviated format | 24-08-2020 | 2020-43700340 | |
| 31-12-2018 | abbreviated format | 30-07-2019 | 2019-41000558 | |
| 31-12-2017 | abbreviated format | 31-07-2018 | 2018-41700118 | |
| 31-12-2016 | abbreviated format | 18-07-2017 | 2017-32800567 |