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Cartim

Active
Public limited companyfounded 197154 yrs activeLouislei 7, 2930 Brasschaat, BelgiumKBO/BCE: BE 0411.641.967
Summary

Cartim has been active since 1971 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €85,431 and a net result of -€35,501. Equity is shrinking by ~21.1% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 26% of 51 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Risk analysisWatch ReportCompare
CartimActiveChecked score 84/100
Risk analysis ReportCompare

Overview

Activity
Manufacture of paper and paper products
NACE 17120NACE 21121
#3 oldest company in Brasschaat, Manufacturing sector1 site
Size
€1.4mtotal assets 2025
Equity
€85,431
Loss
-€35,501
Turnover not published (abridged schema)
Financial health
84 Excellent Checked score 2025
Bankruptcy chance 12 m
0.3%
Structure
Board
1 member
Accounts 45 d early1 of 8 deeds read
Why 84- Equity €85,431 (6.3% of total assets)- Sector Manufacture of paper and paper products (NACE 17)+ Size: total assets €1.4m+ Founded in 1971Show the evidence

Checked score

Score 2025
84 / 100
Excellent
Probability in this band: under 0.55%
Better than 31% of its sector peers (NACE 17, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 31-13
equity 6.3% of total assets
Liquidity 70+50
short-term debt 0.8% · cash 16.2%
Profitability 15+4
return on assets -2.6%
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (113 companies)
Last 24 months 11-2024: 0.1% 12-2024: 0.1%● 0.0% vs 11-2024 01-2025: 0.1%▼ -9.8% vs 12-2024lowest value 02-2025: 0.1%● 0.0% vs 01-2025lowest value 03-2025: 0.1%● 0.0% vs 02-2025lowest value 04-2025: 0.1%● 0.0% vs 03-2025lowest value 05-2025: 0.1%● 0.0% vs 04-2025lowest value 06-2025: 0.1%● 0.0% vs 05-2025lowest value 07-2025: 0.3%▲ +147% vs 06-2025 08-2025: 0.3%● 0.0% vs 07-2025 09-2025: 0.3%▲ +1.8% vs 08-2025 10-2025: 0.3%● 0.0% vs 09-2025 11-2025: 0.3%● 0.0% vs 10-2025 12-2025: 0.3%● 0.0% vs 11-2025 01-2026: 0.3%● 0.0% vs 12-2025 02-2026: 0.3%● 0.0% vs 01-2026 03-2026: 0.3%● 0.0% vs 02-2026 04-2026: 0.3%▲ +9.7% vs 03-2026highest value 05-2026: 0.3%▼ -7.9% vs 04-2026 06-2026: 0.3%▲ +5.4% vs 05-2026 07-2026: 0.3%▼ -14.6% vs 06-2026 08-2026: 0.3%● 0.0% vs 07-2026 09-2026: 0.3%● 0.0% vs 08-2026 10-2026: 0.3%● 0.0% vs 09-2026
  • Equity €85,431 (6.3% of total assets) raises the probability
  • Sector Manufacture of paper and paper products (NACE 17) raises the probability
  • Size: total assets €1.4m lowers the probability for this profile
  • Founded in 1971 lowers the probability for this profile
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 24.63 against 0.32 in 2024; short-term debt: 0.8% and cash: 16.2% of total assets), but 93.7% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 17, micro). Better than this share of them on solvency 20%, liquidity 73%, profitability 20%, growth against the median 11%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Equity €85,431 (6.3% of total assets)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Sector Manufacture of paper and paper products (NACE 17)
In the bankruptcy model this factor raises the probability.
KBO
lowers risk · Size: total assets €1.4m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
lowers risk · Founded in 1971
In the bankruptcy model this factor lowers the probability for this profile.
KBO
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 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€35,501
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 16-06-2026, 45 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
45 d early
2024
41 d early
2023
43 d early
2022
33 d early
2021
40 d early
2020
40 d early
2019
38 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 40 days before the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 35% 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 20 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
04-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Reappointment: Josephus Baartmans (bestuurder)State Gazette act
  2. Annual accounts filedfiscal year 2025 · micro…
  3. Liquidity times 77current ratio 24.63

Key points

  • Risk: 8 loss-making years in a rowloss fiscal year 2025 -€35,501 View
  • Caution: Among the weakest 8% on net resultsector median €4,743 · 51 companies -€35,501 View
  • Positive: Always filed on timeaccounts within the deadline every year 8 years View
  • New directorlatest change 16-06-2026 · 1 in office 1 joined View
  • Active since 1971founded 24-11-1971 54 years View

By topic

Financials

Fiscal year
2025
Total assets
€1.4m
Loss
-€35,501
Solvency
6.3%
Total assets▲ 118%
Net result
20182025
Go to Financials

Timeline

Events
14
Since
2017
Next accounts
by 31-07-2027
  1. 03-08-2026Reappointment: Josephus Baartmans (bestuurder)
  2. 16-06-2026Annual accounts filed
  3. 31-12-2025Liquidity times 77
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Manufacture of paper and paper productsNACE 17120
Founded
24-11-1971
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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