CARTEC PROJECT
ActiveSummary
CARTEC PROJECT has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €45,875 and a net result of -€2,114. Equity is growing by ~25.7% per year across the filed fiscal years. Its solvency ranks better than 13% of 7940 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability18▼-23
Solvency36▼-7
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days only on tighter terms
Liquidity tight (current ratio 1.11 against 1.23 in 2024; short-term debt: 89% and cash: 6.9% of total assets), and 89% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
11%
Return on assets
-0.5%
Age of the figures
9 mo
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 7940 sector peers (2025).
NBB · sector comparisonPosition among 7940 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-09-2026, 39 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
39 d late
2024
25 d late
2023
30 d late
2022
8 d late
2021
2 d early
2020
55 d late
2019
4 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 after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 25 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€2,114
2024 · €6,160
Working capital
€40,924▼ 16.6%
2024 · €49,082
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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€38,725▲ 683%€14,803▼ 61.8%€16,294▲ 10.1%€15,491▼ 4.9%-€3,310
Net result€19,677within the sector's middle half€9,965within the sector's middle half▼ 49.4%€8,044within the sector's middle half▼ 19.3%€6,160within the sector's middle half▼ 23.4%-€2,114below the sector's middle half
Equity€23,819within the sector's middle half▲ 475%€33,784below the sector's middle half▲ 41.8%€41,828below the sector's middle half▲ 23.8%€47,988below the sector's middle half▲ 14.7%€45,875below the sector's middle half▼ 4.4%
Total assets€164,805within the sector's middle half▲ 44.7%€132,802below the sector's middle half▼ 19.4%€193,281below the sector's middle half▲ 45.5%€263,792below the sector's middle half▲ 36.5%€417,150within the sector's middle half▲ 58.1%
Debt€140,985▲ 28.4%€99,018▼ 29.8%€151,453▲ 53.0%€215,804▲ 42.5%€371,276▲ 72.0%
Working capital€46,889within the sector's middle half▲ 5,762%€32,597within the sector's middle half▼ 30.5%€40,319within the sector's middle half▲ 23.7%€49,082within the sector's middle half▲ 21.7%€40,924within the sector's middle half▼ 16.6%
Solvency14.5%below the sector's middle half▲ 10.8pp25.4%within the sector's middle half▲ 11.0pp21.6%within the sector's middle half▼ 3.8pp18.2%below the sector's middle half▼ 3.4pp11.0%below the sector's middle half▼ 7.2pp
Current ratio1.40within the sector's middle half▲ 0.391.33within the sector's middle half▼ 0.071.27within the sector's middle half▼ 0.071.23within the sector's middle half▼ 0.041.11below the sector's middle half▼ 0.12
Return on assets (ROA)11.9%within the sector's middle half▲ 12.0pp7.5%within the sector's middle half▼ 4.4pp4.2%within the sector's middle half▼ 3.3pp2.3%within the sector's middle half▼ 1.8pp-0.5%below the sector's middle half▼ 2.8pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3,310 after €15,491 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €417,150
Fixed assets
€5,038 ▲ 473%
Current assets
€412,113 ▲ 56.7%
Equity and liabilities €417,150
Equity
€45,875 ▼ 4.4%
Debt
€371,276 ▲ 72.0%
Debt's share of the balance-sheet total rises from 81.8% to 89.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€2,596▼
2024 · €16,120
Cash flow
-€1,400▼
2024 · €6,790
Debt to equity
8.09▲
2024 · 4.50
ROE
-4.6%▼
2024 · 12.8%
Interest coverage
-0.25▼
2024 · 2.34
Debt ≤ 1 year
€371,189▲
2024 · €213,831
Income taxes
€352▼
2024 · €3,857
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,548 companies that looked in July 2024 the way this one looks now, 4.3% went bankrupt within 24 months and 91% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a small loss
4.3%
went bankrupt
3.9%
stopped otherwise
91%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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 497,338 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% | 1.9% |
| 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 1,548 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2,892 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,396 | €1,169 | €630 | €630 | €713 | ▲ 13.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €61,843 | - |
| Other operating charges640/8 | €833 | €343 | €1,528 | €5,709 | €1,731 | ▼ 69.7% |
| Non-recurring operating charges66A | €534 | - | €1,603 | - | - | - |
| Gross operating margin9900 | €41,487 | €16,315 | €20,055 | €21,829 | €60,978 | ▲ 179% |
| Operating profit (loss)9901 | €38,725 | €14,803 | €16,294 | €15,491 | -€3,310 | ▼ 121% |
| Financial income75/76B | €1,726 | €268 | €26 | €1,414 | €11,966 | ▲ 746% |
| Recurring financial income75 | €1,726 | €268 | €26 | €1,414 | €11,966 | ▲ 746% |
| Financial charges65/66B | €2,312 | €2,337 | €5,316 | €6,887 | €10,419 | ▲ 51.3% |
| Recurring financial charges65 | €2,312 | €2,337 | €5,316 | €6,887 | €10,419 | ▲ 51.3% |
| Profit (loss) for the period before taxes9903 | €38,139 | €12,734 | €11,005 | €10,018 | -€1,762 | ▼ 118% |
| Income taxes67/77 | €18,462 | €2,769 | €2,961 | €3,857 | €352 | ▼ 90.9% |
| Profit (loss) for the period9904 | €19,677 | €9,965 | €8,044 | €6,160 | -€2,114 | ▼ 134% |
| Profit (loss) for the period to be appropriated9905 | €19,677 | €9,965 | €8,044 | €6,160 | -€2,114 | ▼ 134% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €164,805 | €132,802 | €193,281 | €263,792 | €417,150 | ▲ 58.1% |
| Fixed assets21/28 | €1,148 | €2,118 | €1,509 | €880 | €5,038 | ▲ 473% |
| Tangible fixed assets22/27 | €750 | €1,470 | €840 | €211 | €4,369 | ▲ 1,974% |
| Plant, machinery and equipment23 | - | €1,470 | €840 | €211 | €883 | ▲ 319% |
| Furniture and vehicles24 | €750 | - | - | - | €3,486 | - |
| Financial fixed assets28 | €398 | €648 | €669 | €669 | €669 | = |
| Current assets29/58 | €163,656 | €130,683 | €191,772 | €262,913 | €412,113 | ▲ 56.7% |
| Stocks and contracts in progress3 | €2,641 | - | - | - | - | - |
| Stocks30/36 | €2,641 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €103,735 | €105,263 | €181,278 | €166,614 | €377,499 | ▲ 127% |
| Trade receivables40 | €102,546 | €99,374 | €177,209 | €166,609 | €357,043 | ▲ 114% |
| Other amounts receivable41 | €1,189 | €5,889 | €4,070 | €4 | €20,456 | ▲ 456,512% |
| Cash at bank and in hand54/58 | €55,137 | €20,274 | €8,898 | €62,228 | €28,902 | ▼ 53.6% |
| Deferred charges and accrued income490/1 | €2,143 | €5,146 | €1,595 | €34,071 | €5,712 | ▼ 83.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €164,805 | €132,802 | €193,281 | €263,792 | €417,150 | ▲ 58.1% |
| Equity10/15 | €23,819 | €33,784 | €41,828 | €47,988 | €45,875 | ▼ 4.4% |
| Contributions10/11 | €13,850 | €13,850 | €13,850 | €13,850 | €13,850 | = |
| Outside capital11 | €13,850 | - | - | - | - | - |
| Other1109/19 | €13,850 | - | - | - | - | - |
| Profit (loss) carried forward14 | €9,969 | €19,934 | €27,978 | €34,138 | €32,025 | ▼ 6.2% |
| Amounts payable17/49 | €140,985 | €99,018 | €151,453 | €215,804 | €371,276 | ▲ 72.0% |
| Amounts payable within one year42/48 | €116,767 | €98,086 | €151,453 | €213,831 | €371,189 | ▲ 73.6% |
| Trade debts44 | €83,486 | €68,941 | €138,058 | €186,921 | €340,451 | ▲ 82.1% |
| Suppliers440/4 | €83,486 | €68,941 | €138,058 | €186,921 | €340,451 | ▲ 82.1% |
| Taxes, remuneration and social security45 | €32,724 | €25,783 | €12,727 | €19,129 | €17,377 | ▼ 9.2% |
| Taxes450/3 | €16,719 | €16,546 | €10,471 | €17,724 | €11,414 | ▼ 35.6% |
| Remuneration and social security454/9 | €16,005 | €9,237 | €2,257 | €1,405 | €5,963 | ▲ 324% |
| Other amounts payable47/48 | €557 | €3,362 | €668 | €7,781 | €13,361 | ▲ 71.7% |
| Accrued charges and deferred income492/3 | €24,218 | €932 | - | €1,973 | €87 | ▼ 95.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,677 | €9,965 | €8,044 | €6,160 | -€2,114 | ▼ 134% |
| + Depreciation and write-downs630 | €1,396 | €1,169 | €630 | €630 | €713 | ▲ 13.3% |
| Operating cash flow (approximation) | €21,073 | €11,134 | €8,674 | €6,790 | -€1,400 | ▼ 121% |
| Investment in fixed assets (approximation) | - | -€2,139 | -€21 | €0 | -€4,871 | - |
| Change in cash | - | -€34,863 | -€11,375 | €53,329 | -€33,326 | ▼ 162% |
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
08-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 39 days late
03-09
State Gazette act
Resignation: Marcelo Pereira Ribeiro (director)Director discharge3 facts ▸
State Gazette act
Resignation: Marcelo Pereira Ribeiro (director)
Director discharge3 facts ▸
- General meeting, 27-03-2026
- Director resignation, Marcelo Pereira Ribeiro (director)
- Director discharge, Marcelo Pereira Ribeiro (director)
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 25 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
08-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 8 days late
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €19,677
Net result €19,677 after 3 loss-making years.
24-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 55 days late
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet -€6,398
Net result drops to -€6,398, the lowest in the series; recovery starts the following year.
07-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 7 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Braine-le-Comte · 1 establishment unit since 2018
Ground area
278 m²
Building footprint
80 m²
Parcel 55016A0258/00A006, Wallonia. Linked by address, not a title deed.
75
companies at this address
See who is registered here
1 establishment unit
Rue du Grand Péril 108, 7090 Braine-le-Comte
since 20182.273.273.489
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55016A0258/00A006 | Wallonia | 278 m² | 1 · 80 m² | - |
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.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Marcelo Pereira Ribeiro |
|
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Of 15,524 companies in sector 43990 we hold annual accounts for 7,427. 6,039 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
Founded12-02-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0690541218
Also
9925:BE0690541218
Registered
13-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.