CARPINUS CONSULT
ActiveSummary
CARPINUS CONSULT has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €157,968 and a net result of €200,209. Equity is shrinking by ~5.4% per year across the filed fiscal years. Its solvency ranks better than 23% of 32023 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+9
Solvency45▼-10
Growth78=
Track record94
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity ample (current ratio 1.92 against 0.73 in 2024; short-term debt: 29.1% and cash: 55.4% of total assets), but 80.1% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
19.9%
Return on assets
25.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 32023 sector peers (2025).
NBB · sector comparisonPosition among 32023 sector peers
Solvency
better than 23%
← weakest
strongest →
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 24-03-2026, 129 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
129 d early
2024
115 d early
2023
93 d early
2022
124 d early
2021
115 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 115 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 7 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€157,968▼ 30.6%
2024 · €227,759
Total assets
€792,579▲ 4.6%
2024 · €757,801
Net result
€200,209▲ 45.3%
2024 · €137,800
Working capital
€211,693
2024 · -€139,296
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€173,978-€223,427▲ 28.4%€235,600▲ 5.4%€184,330▼ 21.8%€265,013▲ 43.8%
Net result€130,182above the sector's middle half-€147,529above the sector's middle half▲ 13.3%€180,566above the sector's middle half▲ 22.4%€137,800above the sector's middle half▼ 23.7%€200,209above the sector's middle half▲ 45.3%
Equity€140,182within the sector's middle half-€286,111above the sector's middle half▲ 104%€466,677above the sector's middle half▲ 63.1%€227,759within the sector's middle half▼ 51.2%€157,968within the sector's middle half▼ 30.6%
Total assets€322,964within the sector's middle half-€525,115above the sector's middle half▲ 62.6%€737,511above the sector's middle half▲ 40.4%€757,801above the sector's middle half▲ 2.8%€792,579above the sector's middle half▲ 4.6%
Debt€182,782-€239,004▲ 30.8%€270,834▲ 13.3%€530,043▲ 95.7%€634,611▲ 19.7%
Working capital€116,872within the sector's middle half-€228,827above the sector's middle half▲ 95.8%€295,885above the sector's middle half▲ 29.3%-€139,296below the sector's middle half€211,693above the sector's middle half
Solvency43.4%within the sector's middle half-54.5%within the sector's middle half▲ 11.1pp63.3%within the sector's middle half▲ 8.8pp30.1%within the sector's middle half▼ 33.2pp19.9%below the sector's middle half▼ 10.1pp
Current ratio1.65within the sector's middle half-1.96within the sector's middle half▲ 0.322.10within the sector's middle half▲ 0.140.73below the sector's middle half▼ 1.371.92within the sector's middle half▲ 1.19
Return on assets (ROA)40.3%above the sector's middle half-28.1%above the sector's middle half▼ 12.2pp24.5%within the sector's middle half▼ 3.6pp18.2%within the sector's middle half▼ 6.3pp25.3%within the sector's middle half▲ 7.1pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 44% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €792,579
Fixed assets
€350,420 ▼ 9.4%
Current assets
€442,159 ▲ 19.2%
Equity and liabilities €792,579
Equity
€157,968 ▼ 30.6%
Debt
€634,611 ▲ 19.7%
Debt's share of the balance-sheet total rises from 69.9% to 80.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€301,446▲
2024 · €249,957
Cash flow
€236,643▲
2024 · €203,426
Debt to equity
4.02▲
2024 · 2.33
ROE
126.7%▲
2024 · 60.5%
Interest coverage
17.83▲
2024 · 12.85
Debt ≤ 1 year
€230,466▼
2024 · €510,244
Debt > 1 year
€391,493
Income taxes
€63,708▲
2024 · €43,678
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,684 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.3%
went bankrupt
1.2%
stopped otherwise
97%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 2,684 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €276 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,132 | €15,449 | €26,346 | €65,626 | €36,433 | ▼ 44.5% |
| Other operating charges640/8 | €1,523 | €2,686 | €2,341 | €2,919 | €2,812 | ▼ 3.7% |
| Non-recurring operating charges66A | - | - | €7,417 | €0 | - | - |
| Gross operating margin9900 | €182,910 | €241,562 | €271,704 | €252,875 | €304,258 | ▲ 20.3% |
| Operating profit (loss)9901 | €173,978 | €223,427 | €235,600 | €184,330 | €265,013 | ▲ 43.8% |
| Financial income75/76B | €40 | €9 | €15,752 | €16,595 | €15,816 | ▼ 4.7% |
| Recurring financial income75 | €40 | €9 | €15,752 | €16,595 | €15,816 | ▼ 4.7% |
| Financial charges65/66B | €1,087 | €6,522 | €12,048 | €19,448 | €16,911 | ▼ 13.0% |
| Recurring financial charges65 | €1,087 | €6,522 | €12,048 | €19,448 | €16,911 | ▼ 13.0% |
| Profit (loss) for the period before taxes9903 | €172,931 | €216,914 | €239,305 | €181,478 | €263,918 | ▲ 45.4% |
| Income taxes67/77 | €42,749 | €69,386 | €58,738 | €43,678 | €63,708 | ▲ 45.9% |
| Profit (loss) for the period9904 | €130,182 | €147,529 | €180,566 | €137,800 | €200,209 | ▲ 45.3% |
| Profit (loss) for the period to be appropriated9905 | €130,182 | €147,529 | €180,566 | €137,800 | €200,209 | ▲ 45.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €322,964 | €525,115 | €737,511 | €757,801 | €792,579 | ▲ 4.6% |
| Fixed assets21/28 | €25,269 | €59,084 | €172,592 | €386,853 | €350,420 | ▼ 9.4% |
| Tangible fixed assets22/27 | €25,269 | €59,084 | €172,592 | €386,853 | €350,420 | ▼ 9.4% |
| Land and buildings22 | - | - | €72,809 | €313,348 | €302,372 | ▼ 3.5% |
| Furniture and vehicles24 | €25,269 | €59,084 | €99,782 | €73,506 | €48,048 | ▼ 34.6% |
| Current assets29/58 | €297,695 | €466,031 | €564,920 | €370,948 | €442,159 | ▲ 19.2% |
| Amounts receivable within one year40/41 | €17,848 | €32,973 | €17,063 | €25,570 | €0 | ▼ 100% |
| Trade receivables40 | €17,848 | €32,973 | €17,063 | €20,570 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €5,000 | €0 | ▼ 100% |
| Current investments50/53 | - | €20,354 | €101,264 | €0 | - | - |
| Cash at bank and in hand54/58 | €278,248 | €410,746 | €444,197 | €342,556 | €439,275 | ▲ 28.2% |
| Deferred charges and accrued income490/1 | €1,600 | €1,958 | €2,395 | €2,822 | €2,884 | ▲ 2.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €322,964 | €525,115 | €737,511 | €757,801 | €792,579 | ▲ 4.6% |
| Equity10/15 | €140,182 | €286,111 | €466,677 | €227,759 | €157,968 | ▼ 30.6% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €130,182 | €276,111 | €456,677 | €217,759 | €147,968 | ▼ 32.0% |
| Distributable reserves133 | €130,182 | €276,111 | €456,677 | €217,759 | €147,968 | ▼ 32.0% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €182,782 | €239,004 | €270,834 | €530,043 | €634,611 | ▲ 19.7% |
| Amounts payable after more than one year17 | - | - | - | - | €391,493 | - |
| Other amounts payable178/9 | - | - | - | - | €391,493 | - |
| Amounts payable within one year42/48 | €180,823 | €237,204 | €269,034 | €510,244 | €230,466 | ▼ 54.8% |
| Trade debts44 | €2,509 | €1,029 | €5,365 | €2,185 | €72 | ▼ 96.7% |
| Suppliers440/4 | €2,509 | €1,029 | €5,365 | €2,185 | €72 | ▼ 96.7% |
| Taxes, remuneration and social security45 | €26,557 | €35,670 | €66,060 | €25,129 | €8,486 | ▼ 66.2% |
| Taxes450/3 | €26,557 | €31,895 | €66,060 | €25,129 | €8,486 | ▼ 66.2% |
| Remuneration and social security454/9 | - | €3,775 | €0 | - | - | - |
| Other amounts payable47/48 | €151,757 | €200,505 | €197,610 | €482,930 | €221,908 | ▼ 54.0% |
| Accrued charges and deferred income492/3 | €1,959 | €1,800 | €1,800 | €19,799 | €12,652 | ▼ 36.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €130,182 | €147,529 | €180,566 | €137,800 | €200,209 | ▲ 45.3% |
| + Depreciation and write-downs630 | €7,132 | €15,449 | €26,346 | €65,626 | €36,433 | ▼ 44.5% |
| Operating cash flow (approximation) | €137,314 | €162,977 | €206,912 | €203,426 | €236,643 | ▲ 16.3% |
| Investment in fixed assets (approximation) | - | -€49,264 | -€139,854 | -€279,888 | €0 | ▲ 100% |
| Change in cash | - | €132,498 | €33,452 | -€101,641 | €96,719 | ▲ 195% |
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
24-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2021net €200,209 ▲45.3%
Operating result €265,013, net result €200,209, both a record.
31-12
Financial
Liquidity triplescurrent ratio 1.92
Current ratio from 0.73 to 1.92; short-term debt falls from €510,244 to €230,466.
07-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
16-10
State Gazette act
General meeting · Board meeting
Capital increase · Capital
29-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200,000Eq €286,111 ▲104%
2 profitable years in a row build equity to €286,111.
04-11
State Gazette act
General meeting · Legal-form conversion
Name change · Registered-office move · Orinn VIJNCKE
20-07
State Gazette act
General meeting · Statutes amendment
Corporate purpose · Capital
30-06
State Gazette act
General meeting · Board meeting
Director resignation · Permanent representative
30-06
State Gazette act
General meeting · Board meeting
Director resignation · Director appointment
07-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
02-09
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
Financial milestoneState Gazette actNBB 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, Brugge · 1 establishment unit since 2020
Ground area
1,378 m²
Building footprint
161 m²
Volume, LiDAR
826 m³
Parcel 31424B0326/00C000, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Carpinus Consult
since 20202.310.355.403
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31424B0326/00C000 | Flanders | 1,378 m² | 1 · 161 m² | 7.8 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
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
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Linked via shared directors
QUVA GENERAL PARTNER
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Ownership & control
5 board mandatesBoard mandates of this companythis company sits on their board5
2 locations
2 locations
1 location
1 location
1 location
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Of 5,711 companies in sector 70100 we hold annual accounts for 3,519. 2,374 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
Founded24-11-2020
Fiscal year end31-12
Activities, NACEBEL 2025
70100Activities of head offices
E-invoicing
Reachable via Peppol
Peppol ID
0208:0758693121
Also
9925:BE0758693121
Registered
24-11-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.