Result
-€4.5m ▼ 223%
The result fell in 2025 from -€1.4m to -€4.5m.
Carpenter Engineered Foams Belgium
Lifetime
4 annual accounts with figures on one time axisTurnoverpeak €77.8m (2023)
€59.1m▼ 10.2%
Resultlowest -€4.5m (2025)
-€4.5m▼ €3.1m
Equitypeak €40.7m (2023)
€34.7m▼ 11.5%
Debts
€56.7m▼ 0.8%
Staffpeak 361.7 FTE (2022)
292.8 FTE▼ 13.6%
Board11 names since 2022
4 directorsBeauchamp Bradford and 3 others
Owners3 names in the annual accounts
100%Carpenter Europe and 1 other
Documentsfilings and deeds
22-06-202639 days before the deadline
2025financial year
Loss of €4.5mStaff from 338.7 FTE to 292.8 FTE
Key points
from the 2025 annual accountsStaff
300 employees on 31-12-2025
In 2025, 6 people joined and 59 left. On top of that, 4.3 agency workers worked there on average.
Payment terms
38 days to suppliers
Carpenter Engineered Foams Belgium pays its suppliers 63 days earlier than in 2024. Customers pay 30 days earlier.
Filings
4 annual accounts 1 late
The 2024 accounts came 314 days late. The other three were filed on time.
At the same address
7 companies
Position in the sector
-€4.5m
Lower net result than 94% of companies in chemicals. Sector median €461,868 · 318 companies.
Checked score
53
Fair
Financially stronger than 51% of large companies in chemicals (NACE 20)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.3% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 44 companies (NACE 20, large).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.2%
01-2025: 1.2%● unchanged vs 12-2024
02-2025: 1.1%▼ -0.1 percentage points vs 01-2025lowest value
03-2025: 1.1%● unchanged vs 02-2025lowest value
04-2025: 1.3%▲ +0.2 percentage points vs 03-2025
05-2025: 6.1%▲ +4.8 percentage points vs 04-2025highest value
06-2025: 6.1%● unchanged vs 05-2025highest value
07-2025: 6.1%● unchanged vs 06-2025highest value
08-2025: 3.7%▼ -2.4 percentage points vs 07-2025
09-2025: 3.7%● unchanged vs 08-2025
10-2025: 3.6%▼ -0.1 percentage points vs 09-2025
11-2025: 3.6%● unchanged vs 10-2025
12-2025: 3.6%● unchanged vs 11-2025
01-2026: 3.6%● unchanged vs 12-2025
02-2026: 3.6%● unchanged vs 01-2026
03-2026: 3.6%● unchanged vs 02-2026
04-2026: 3.6%● unchanged vs 03-2026
05-2026: 3.6%● unchanged vs 04-2026
06-2026: 3.6%● unchanged vs 05-2026
07-2026: 2.0%▼ -1.6 percentage points vs 06-2026
08-2026: 2.3%▲ +0.3 percentage points vs 07-2026
09-2026: 2.6%▲ +0.3 percentage points vs 08-2026
10-2026: 2.3%▼ -0.3 percentage points vs 09-2026
11-2026: 2.3%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 1.07
1 of the last 3 accounts late
Founded in 2022
lowers risk
Size: turnover €59.1m, 292.8 FTE, total assets €94.4m
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 20, large). It does better than 36% of them on solvency, 99% on liquidity, 49% on profitability and 20% on growth.
The bankruptcy probability was computed on 05-11-2026 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 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% 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, 249 companies had the same profile as Carpenter Engineered Foams Belgium has now. Each dot is one company, two years later.
94.0%
were still trading
4.8%
stopped another way
0.8%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Carpenter Engineered Foams Belgium itself is higher: 2.3% within 12 months. It rests on far more data about Carpenter Engineered Foams Belgium than the profile alone.
Test of the method
The method was tested on the 497,446 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.
| 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 249 companies, not a prediction for Carpenter Engineered Foams Belgium. 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 €1,800,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.07 (0.77 in 2024), below the usual 1.5. Short-term debt is 21.2% of total assets. 63.2% of the assets are financed with debt and provisions.
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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
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 2025Net result per financial year
22232425
2022 to 2025 · latest year -€4.5m
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 22-06-2026, 39 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
39 days early
2024
314 days late
2023
35 days early
2022
27 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 53 days after the deadline. In the sector (NACE 20), the median for financial year 2024 was 22 days before the deadline, and 26% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 1 July (3 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
BB
Beauchamp Bradford
Director, since 12-06-2023
KB
KPMG Bedrijfsrevisoren BV/SRL
Auditor, Brecht Buysschaert
- Carpenter Europe 100%equity €424.9m (2025) · annual accounts 2025
- Carpenter Holdings, Inc. consolidatesannual accounts 2025
Shares in 1 company, Carpenter Engineered Foams India Private Limited
Board & ownershipRecent changes
Environmental permit granted
Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen, Slopen of verwijderen, Slopen van niet vrijstaande gebouwen of constructies and 1 more · Provincie Oost-Vlaanderen
Appointment: KPMG Bedrijfsrevisoren BV/SRL (statutory auditor)
Permanent representative: Brecht Buysschaert · General meeting of 13-05-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0780876031
General meeting of 11-03-2024
Gazette deed
Comparable companies
same main activity, similar in size and age| Company | Turnover | EBIT margin | Solvency | Staff |
|---|---|---|---|---|
| Carpenter Engineered Foams Belgium Machelen (Brab.) | €59.1m | -4.6% | 36.8% | 292.8 |
| Celanese Performance Solutions Belgium Mechelen | €41.9m | 9.9% | 13.9% | 211.7 |
| RAVAGO PRODUCTION Arendonk | €37.0m | 5.2% | 40.3% | 199.1 |
| Trinseo Belgium Tessenderlo-Ham | €28.0m | 2.8% | 76.5% | 61.8 |
| INEOS MANUFACTURING BELGIUM Antwerp | €106.2m | 2.3% | 82.7% | 279.4 |
| Kingspan Insulation Turnhout | €32.7m | -2.3% | 18.3% | 132.1 |
| INEOS STYROLUTION BELGIUM Antwerp | €209.5m | 5.6% | 42.0% | 341 |
Grey: the largest companies of the sector (chemicals (NACE 20)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Carpenter Engineered Foams Belgium: manufacture of chemicals and chemical products (NACE 20160). They are comparable in size and age: total assets between €23m and €211m, founded between 2004 and 2022.
Official details
Source: KBO- Status
- Active since 25-01-2022Normal situation
- Registered office
- 46 active companies are registered at this address5 started in the 12 months before. Source: KBO register, as of 5 November 2026.
- Activity
- Manufacture of chemicals and chemical productsNACE 20160and 5 others
- Joint committee
- 207White-collar workers in the chemical industry · annual accounts 2025
- Establishment units
- 2.327.179.6569230 Wetteren, since 25-01-2022
- 2.328.619.4141831 Machelen (Brab.), since 25-01-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 02-09-2025
Annual accounts 2025
- Total assets
- €94.4m▼ 5.2%
- Employeeson 31-12-2025
- 300▼ 15.0%
- Filing
- Filed on 22-06-2026, 39 days before the end of the filing period
Insights on Carpenter Engineered Foams Belgium
The computed 12-month bankruptcy probability of Carpenter Engineered Foams Belgium is 2.3% (moderate). The 2025 annual accounts show equity of €34.7m and a net result of -€4.5m.
Equity has been shrinking by about 4.1% per year since 2022. Its solvency ranks better than 32% of 317 sector peers (NACE 20, financial year 2025).
The company has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Carpenter Engineered Foams Belgium
- What is the company number of Carpenter Engineered Foams Belgium?
- The company number of Carpenter Engineered Foams Belgium is 0780.876.031. The VAT number is the same number with BE in front: BE 0780.876.031.
- Where is Carpenter Engineered Foams Belgium based?
- The registered office is at Culliganlaan 2 F, 1831 Machelen (Brab.).Company details
- What does Carpenter Engineered Foams Belgium do?
- According to the KBO register, the main activity is manufacture of chemicals and chemical products (NACE 20160).
- What is the legal form of Carpenter Engineered Foams Belgium?
- Carpenter Engineered Foams Belgium is a private limited company (BV).
- When was Carpenter Engineered Foams Belgium founded?
- Carpenter Engineered Foams Belgium was founded on 25-01-2022.
- Is Carpenter Engineered Foams Belgium still active?
- Yes, Carpenter Engineered Foams Belgium is an active enterprise in the KBO register.
- How many employees does Carpenter Engineered Foams Belgium have?
- Carpenter Engineered Foams Belgium had an average of 292.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Carpenter Engineered Foams Belgium fall under?
- In its 2025 annual accounts, Carpenter Engineered Foams Belgium states joint committee 207 (White-collar workers in the chemical industry).
- What is the turnover of Carpenter Engineered Foams Belgium?
- The turnover of Carpenter Engineered Foams Belgium was €59.1m in financial year 2025, according to the filed annual accounts.
- Is Carpenter Engineered Foams Belgium profitable?
- In financial year 2025, Carpenter Engineered Foams Belgium made a loss of €4.5m.
- Where can I find the annual accounts of Carpenter Engineered Foams Belgium?
- Carpenter Engineered Foams Belgium filed 4 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Carpenter Engineered Foams Belgium due?
- Carpenter Engineered Foams Belgium must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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