CARRE TECHNICS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-01-2026 PDF all 23 filings
Turnover
≈ €170,000
Estimated: probably between €87,000 and €310,000
Total assets
€492,379▼ 2.1%
2024 · €502,824
Net result
€3,592▲ 77.2%
2024 · €2,027
Working capital
-€126,765▼ 0.9%
2024 · -€125,683
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€8,203
▼ 5.9%
2025
20192025
Net result
€3,592
▲ 77.2%
2025
middle half of the sector
20192025
Equity
€80,776
▲ 4.7%
2025
middle half of the sector
20192025
Total assets
€492,379
▼ 2.1%
2025
highest quarter of the sector
20192025
Debt
€411,603
▼ 3.3%
2025
20192025
Working capital
-€126,765
▼ 0.9%
2025
lowest quarter of the sector
20192025
Solvency
16.4%
▲ 1.1pp
2025
middle half of the sector
20192025
Current ratio
0.51
=
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
0.7%
▲ 0.3pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€26,274-€19,451▼ 26.0%€19,173▼ 1.4%€13,455▼ 29.8%€9,657▼ 28.2%€8,721▼ 9.7%€8,203▼ 5.9%
Net result€17,401-€10,749within the sector's middle half▼ 38.2%€7,178within the sector's middle half▼ 33.2%€2,277within the sector's middle half▼ 68.3%€1,194within the sector's middle half▼ 47.5%€2,027within the sector's middle half▲ 69.7%€3,592within the sector's middle half▲ 77.2%
Equity€53,759-€64,508within the sector's middle half▲ 20.0%€71,686within the sector's middle half▲ 11.1%€73,963within the sector's middle half▲ 3.2%€75,157within the sector's middle half▲ 1.6%€77,184within the sector's middle half▲ 2.7%€80,776within the sector's middle half▲ 4.7%
Total assets€587,259-€575,093above the sector's middle half▼ 2.1%€545,234above the sector's middle half▼ 5.2%€526,091above the sector's middle half▼ 3.5%€512,269above the sector's middle half▼ 2.6%€502,824above the sector's middle half▼ 1.8%€492,379above the sector's middle half▼ 2.1%
Debt€533,500-€510,585▼ 4.3%€473,548▼ 7.3%€452,128▼ 4.5%€437,112▼ 3.3%€425,640▼ 2.6%€411,603▼ 3.3%
Working capital-€119,236--€106,911below the sector's middle half▲ 10.3%-€108,938below the sector's middle half▼ 1.9%-€115,843below the sector's middle half▼ 6.3%-€123,772below the sector's middle half▼ 6.8%-€125,683below the sector's middle half▼ 1.5%-€126,765below the sector's middle half▼ 0.9%
Solvency9.2%-11.2%within the sector's middle half▲ 2.1pp13.1%within the sector's middle half▲ 1.9pp14.1%within the sector's middle half▲ 0.9pp14.7%within the sector's middle half▲ 0.6pp15.4%within the sector's middle half▲ 0.7pp16.4%within the sector's middle half▲ 1.1pp
Current ratio0.55-0.57below the sector's middle half▲ 0.030.54below the sector's middle half▼ 0.030.52below the sector's middle half▼ 0.020.50below the sector's middle half▼ 0.020.51below the sector's middle half▲ 0.010.51below the sector's middle half=
Return on assets (ROA)3.0%-1.9%within the sector's middle half▼ 1.1pp1.3%within the sector's middle half▼ 0.6pp0.4%within the sector's middle half▼ 0.9pp0.2%within the sector's middle half▼ 0.2pp0.4%within the sector's middle half▲ 0.2pp0.7%within the sector's middle half▲ 0.3pp
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 6% lower than in 2024 and the lowest since 2021. It is the fourth fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €492,379
Fixed assets
€359,707 ▼ 3.7%
Current assets
€132,672 ▲ 2.7%
Equity and liabilities €492,379
Equity
€80,776 ▲ 4.7%
Debt
€411,603 ▼ 3.3%
Debt's share of the balance-sheet total falls from 84.6% to 83.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€22,183▼
2024 · €23,125
Cash flow
€17,572▲
2024 · €16,430
Quick ratio
0.43▲
2024 · 0.41
Debt to equity
5.10▼
2024 · 5.51
ROE
4.4%▲
2024 · 2.6%
Interest coverage
6.79▲
2024 · 4.10
Debt ≤ 1 year
€259,437▲
2024 · €254,820
Debt > 1 year
€152,166▼
2024 · €170,820
Income taxes
€1,345▲
2024 · €1,055
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Mortgages, amount registered | €27,500 | €27,500 | €27,500 | €27,500 |
| Mortgage mandates | €280,500 | €280,500 | €280,500 | €280,500 |
| Carrying value of the mortgaged assets | €402,494 | €388,090 | €373,687 | €359,707 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,405 | €14,403 | €14,403 | €14,403 | €14,403 | €14,403 | €13,980 | ▼ 2.9% |
| Other operating charges640/8 | - | - | - | €2,723 | €2,785 | €3,054 | €3,175 | ▲ 3.9% |
| Gross operating margin9900 | €40,094 | €39,699 | €36,323 | €30,581 | €26,845 | €26,179 | €25,358 | ▼ 3.1% |
| Operating profit (loss)9901 | €26,274 | €19,451 | €19,173 | €13,455 | €9,657 | €8,721 | €8,203 | ▼ 5.9% |
| Financial income75/76B | - | - | - | €0 | - | - | - | - |
| Recurring financial income75 | - | €11 | - | €0 | - | - | - | - |
| Financial charges65/66B | - | - | - | €10,349 | €8,028 | €5,639 | €3,266 | ▼ 42.1% |
| Recurring financial charges65 | €8,873 | €8,713 | €11,363 | €10,349 | €8,028 | €5,639 | €3,266 | ▼ 42.1% |
| Profit (loss) for the period before taxes9903 | €17,401 | €10,749 | €7,810 | €3,105 | €1,629 | €3,083 | €4,937 | ▲ 60.2% |
| Income taxes67/77 | - | - | €632 | €829 | €435 | €1,055 | €1,345 | ▲ 27.5% |
| Profit (loss) for the period9904 | €17,401 | €10,749 | €7,178 | €2,277 | €1,194 | €2,027 | €3,592 | ▲ 77.2% |
| Profit (loss) for the period to be appropriated9905 | €17,401 | €10,749 | €7,178 | €2,277 | €1,194 | €2,027 | €3,592 | ▲ 77.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €587,259 | €575,093 | €545,234 | €526,091 | €512,269 | €502,824 | €492,379 | ▼ 2.1% |
| Fixed assets21/28 | €443,587 | €431,301 | €416,897 | €402,494 | €388,090 | €373,687 | €359,707 | ▼ 3.7% |
| Tangible fixed assets22/27 | €443,587 | €431,301 | €416,897 | €402,494 | €388,090 | €373,687 | €359,707 | ▼ 3.7% |
| Land and buildings22 | - | - | - | €402,494 | €388,090 | €373,687 | €359,707 | ▼ 3.7% |
| Current assets29/58 | €143,672 | €143,793 | €128,337 | €123,597 | €124,178 | €129,137 | €132,672 | ▲ 2.7% |
| Stocks and contracts in progress3 | €43,350 | €35,500 | €32,850 | €28,975 | €27,725 | €25,625 | €22,275 | ▼ 13.1% |
| Stocks30/36 | - | - | - | €28,975 | €27,725 | €25,625 | €22,275 | ▼ 13.1% |
| Amounts receivable within one year40/41 | €87,827 | €106,653 | €94,538 | €92,141 | €94,533 | €103,247 | €109,147 | ▲ 5.7% |
| Trade receivables40 | - | - | - | €61,920 | €64,311 | €73,025 | €78,926 | ▲ 8.1% |
| Other amounts receivable41 | - | - | - | €30,222 | €30,222 | €30,222 | €30,222 | = |
| Cash at bank and in hand54/58 | €12,495 | €1,640 | €949 | €2,400 | €1,832 | €139 | €1,120 | ▲ 708% |
| Deferred charges and accrued income490/1 | - | - | - | €81 | €89 | €127 | €130 | ▲ 2.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €587,259 | €575,093 | €545,234 | €526,091 | €512,269 | €502,824 | €492,379 | ▼ 2.1% |
| Equity10/15 | €53,759 | €64,508 | €71,686 | €73,963 | €75,157 | €77,184 | €80,776 | ▲ 4.7% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | - | €6,200 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | - | - | - | - |
| Uncalled capital101 | - | - | - | €12,400 | - | - | - | - |
| Reserves13 | €97,582 | €97,582 | €97,582 | €97,582 | €97,582 | €97,582 | €97,582 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | - | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €95,722 | €95,722 | €97,582 | €97,582 | = |
| Profit (loss) carried forward14 | -€50,023 | -€39,274 | -€32,096 | -€29,819 | -€28,625 | -€26,597 | -€23,005 | ▲ 13.5% |
| Amounts payable17/49 | €533,500 | €510,585 | €473,548 | €452,128 | €437,112 | €425,640 | €411,603 | ▼ 3.3% |
| Amounts payable after more than one year17 | €270,592 | €259,881 | €236,273 | €212,688 | €189,162 | €170,820 | €152,166 | ▼ 10.9% |
| Financial debts170/4 | - | - | - | €212,688 | €189,162 | €170,820 | €152,166 | ▼ 10.9% |
| Amounts payable within one year42/48 | €262,908 | €250,704 | €237,275 | €239,440 | €247,950 | €254,820 | €259,437 | ▲ 1.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €23,585 | €23,526 | €18,342 | €18,654 | ▲ 1.7% |
| Trade debts44 | €6,364 | €4,598 | €3,678 | €2,683 | €3,246 | €3,560 | €3,833 | ▲ 7.7% |
| Suppliers440/4 | - | - | - | €2,683 | €3,246 | €3,560 | €3,833 | ▲ 7.7% |
| Advances received on contracts in progress46 | - | - | - | - | €2,000 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €1,036 | €1,565 | €1,680 | €3,618 | ▲ 115% |
| Taxes450/3 | - | - | - | €1,036 | €1,565 | €1,680 | €3,618 | ▲ 115% |
| Other amounts payable47/48 | - | - | - | €212,136 | €217,612 | €231,238 | €233,333 | ▲ 0.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,401 | €10,749 | €7,178 | €2,277 | €1,194 | €2,027 | €3,592 | ▲ 77.2% |
| + Depreciation and write-downs630 | €12,405 | €14,403 | €14,403 | €14,403 | €14,403 | €14,403 | €13,980 | ▼ 2.9% |
| Operating cash flow (approximation) | €29,805 | €25,153 | €21,581 | €16,680 | €15,598 | €16,430 | €17,572 | ▲ 6.9% |
| Investment in fixed assets (approximation) | - | -€2,117 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€10,855 | -€691 | €1,451 | -€567 | -€1,694 | €981 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 4,685 companies had the same profile as CARRE TECHNICS has now. Two years later, 96.9% were still going and 1.1% had gone bankrupt.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.9%
was still going
1.9%
stopped otherwise
1.1%
went bankrupt
That fits the bankruptcy probability of CARRE TECHNICS itself: 0.4% within 12 months.
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 4,685 companies, not a prediction for CARRE TECHNICS. 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.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 30-01-2026 | 2026-00021996 | |
| 30-06-2024 | micro format | 29-01-2025 | 2025-00014021 | |
| 30-06-2023 | micro format | 25-01-2024 | 2024-00006145 | |
| 30-06-2022 | micro format | 25-01-2023 | 2023-00003463 | |
| 30-06-2021 | micro format | 26-01-2022 | 2022-01900485 | |
| 30-06-2020 | micro format | 17-12-2020 | 2020-75900573 | |
| 30-06-2019 | micro format | 29-01-2020 | 2020-02700068 | |
| 30-06-2018 | micro format | 29-01-2019 | 2019-02700577 | |
| 30-06-2017 | micro format | 22-02-2018 | 2018-05300322 | |
| 30-06-2016 | abbreviated format | 28-02-2017 | 2017-05300544 |