CHARBIN
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-07-2026 at the NBB all 27 filings
Turnover
≈ €120,000
Estimated: probably between €71,000 and €210,000
Total assets
€114,102▼ 7.4%
2024 · €123,277
Net result
€12,451▼ 22.8%
2024 · €16,120
Working capital
€22,515▲ 1.0%
2024 · €22,289
In the rankings
#6 oldest company in Ham-sur-Heure-Nalinnes, Administrative and support services sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€19,928
▼ 22.0%
2025
20182025
Net result
€12,451
▼ 22.8%
2025
middle half of the sector
20182025
Equity
€85,209
▼ 1.7%
2025
middle half of the sector
20182025
Total assets
€114,102
▼ 7.4%
2025
middle half of the sector
20182025
Debt
€28,893
▼ 21.1%
2025
20182025
Working capital
€22,515
▲ 1.0%
2025
middle half of the sector
20182025
Solvency
74.7%
▲ 4.4pp
2025
highest quarter of the sector
20182025
Current ratio
2.31
▲ 0.19
2025
highest quarter of the sector
20182025
Return on assets (ROA)
10.9%
▼ 2.2pp
2025
middle half of the sector
20182025
Staff (FTE)
0
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€6,522-€9,627▲ 47.6%€10,732▲ 11.5%€8,169▼ 23.9%€14,005▲ 71.5%€29,140▲ 108%€25,559▼ 12.3%€19,928▼ 22.0%
Net result€2,218-€4,072▲ 83.6%€9,836within the sector's middle half▲ 142%€3,811within the sector's middle half▼ 61.3%€8,186within the sector's middle half▲ 115%€18,354within the sector's middle half▲ 124%€16,120within the sector's middle half▼ 12.2%€12,451within the sector's middle half▼ 22.8%
Equity€43,909-€47,981▲ 9.3%€57,818within the sector's middle half▲ 20.5%€61,628within the sector's middle half▲ 6.6%€69,815within the sector's middle half▲ 13.3%€80,169within the sector's middle half▲ 14.8%€86,666within the sector's middle half▲ 8.1%€85,209within the sector's middle half▼ 1.7%
Total assets€149,329-€138,034▼ 7.6%€128,562within the sector's middle half▼ 6.9%€117,286within the sector's middle half▼ 8.8%€115,232within the sector's middle half▼ 1.8%€123,279within the sector's middle half▲ 7.0%€123,277within the sector's middle half=€114,102within the sector's middle half▼ 7.4%
Debt€105,420-€90,052▼ 14.6%€70,745▼ 21.4%€55,658▼ 21.3%€45,417▼ 18.4%€43,110▼ 5.1%€36,611▼ 15.1%€28,893▼ 21.1%
Working capital-€21,368--€19,540▲ 8.6%-€8,544within the sector's middle half▲ 56.3%-€1,507within the sector's middle half▲ 82.4%€1,343within the sector's middle half€11,203within the sector's middle half▲ 734%€22,289within the sector's middle half▲ 99.0%€22,515within the sector's middle half▲ 1.0%
Solvency29.4%-34.8%▲ 5.4pp45.0%within the sector's middle half▲ 10.2pp52.5%within the sector's middle half▲ 7.6pp60.6%above the sector's middle half▲ 8.0pp65.0%above the sector's middle half▲ 4.4pp70.3%above the sector's middle half▲ 5.3pp74.7%above the sector's middle half▲ 4.4pp
Current ratio0.18-0.19▲ 0.010.52within the sector's middle half▲ 0.330.89within the sector's middle half▲ 0.371.10within the sector's middle half▲ 0.211.52within the sector's middle half▲ 0.422.12within the sector's middle half▲ 0.602.31above the sector's middle half▲ 0.19
Return on assets (ROA)1.5%-3.0%▲ 1.5pp7.7%within the sector's middle half▲ 4.7pp3.2%within the sector's middle half▼ 4.4pp7.1%within the sector's middle half▲ 3.9pp14.9%above the sector's middle half▲ 7.8pp13.1%above the sector's middle half▼ 1.8pp10.9%within the sector's middle half▼ 2.2pp
Staff (FTE)0
above
within
below
The sector band is the middle half of the companies in Rental and leasing activities (NACE 77). 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 22% lower than in 2024. It is the second 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 €114,102
Fixed assets
€74,392 ▼ 8.3%
Current assets
€39,710 ▼ 5.8%
Equity and liabilities €114,102
Equity
€85,209 ▼ 1.7%
Debt
€28,893 ▼ 21.1%
Debt's share of the balance-sheet total falls from 29.7% to 25.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€26,663▼
2024 · €34,907
Cash flow
€19,185▼
2024 · €25,468
Quick ratio
2.13▲
2024 · 1.97
Debt to equity
0.34▼
2024 · 0.42
ROE
14.6%▼
2024 · 18.6%
Interest coverage
28.78▼
2024 · 32.19
Debt ≤ 1 year
€17,195▼
2024 · €19,862
Debt > 1 year
€11,681▼
2024 · €16,736
Income taxes
€6,554▼
2024 · €8,362
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | €54,537 | - | - | - |
| Carrying value of the mortgaged assets | - | €11,370 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €6,762 | - | - | - |
| Financial fixed assets | €150 | - | - | - | €0 |
| Depreciation and write-downs of the year | €14,151 | €11,865 | €9,643 | €9,348 | €6,734 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,222 | €14,328 | €14,237 | €14,151 | €11,865 | €9,643 | €9,348 | €6,734 | ▼ 28.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0 | -€106 | €0 | -€356 | €0 | - |
| Other operating charges640/8 | - | - | - | €2,138 | €2,693 | €2,572 | €2,410 | €2,741 | ▲ 13.8% |
| Gross operating margin9900 | €22,825 | €26,825 | €27,274 | €24,457 | €28,457 | €41,355 | €36,961 | €29,404 | ▼ 20.4% |
| Operating profit (loss)9901 | €6,522 | €9,627 | €10,732 | €8,169 | €14,005 | €29,140 | €25,559 | €19,928 | ▼ 22.0% |
| Financial income75/76B | - | - | - | €0 | €0 | - | €7 | €3 | ▼ 57.8% |
| Recurring financial income75 | €0 | €10 | €0 | €0 | €0 | - | €7 | €3 | ▼ 57.8% |
| Non-recurring financial income76B | - | - | - | €0 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €1,827 | €1,533 | €1,365 | €1,085 | €927 | ▼ 14.6% |
| Recurring financial charges65 | €2,444 | €2,278 | €2,092 | €1,827 | €1,533 | €1,365 | €1,085 | €927 | ▼ 14.6% |
| Profit (loss) for the period before taxes9903 | €4,078 | €7,359 | €13,639 | €6,341 | €12,472 | €27,775 | €24,482 | €19,005 | ▼ 22.4% |
| Income taxes67/77 | €1,860 | €3,287 | €3,803 | €2,531 | €4,285 | €9,421 | €8,362 | €6,554 | ▼ 21.6% |
| Profit (loss) for the period9904 | €2,218 | €4,072 | €9,836 | €3,811 | €8,186 | €18,354 | €16,120 | €12,451 | ▼ 22.8% |
| Profit (loss) for the period to be appropriated9905 | €2,218 | €4,072 | €9,836 | €3,811 | €8,186 | €18,354 | €16,120 | €12,451 | ▼ 22.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €149,329 | €138,034 | €128,562 | €117,286 | €115,232 | €123,279 | €123,277 | €114,102 | ▼ 7.4% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €144,559 | €133,458 | €119,221 | €105,220 | €100,117 | €90,474 | €81,126 | €74,392 | ▼ 8.3% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €143,509 | €132,408 | €118,171 | €104,020 | €98,917 | €89,274 | €79,926 | €73,192 | ▼ 8.4% |
| Land and buildings22 | - | - | - | €66,538 | €62,079 | €57,620 | €53,161 | €51,248 | ▼ 3.6% |
| Plant, machinery and equipment23 | - | - | - | €37,482 | €36,838 | €31,654 | €26,766 | €21,944 | ▼ 18.0% |
| Furniture and vehicles24 | - | - | - | €0 | - | - | - | - | - |
| Financial fixed assets28 | €1,050 | €1,050 | €1,050 | €1,200 | €1,200 | €1,200 | €1,200 | €1,200 | = |
| Current assets29/58 | €4,770 | €4,576 | €9,341 | €12,066 | €15,115 | €32,805 | €42,151 | €39,710 | ▼ 5.8% |
| Stocks and contracts in progress3 | €1,314 | €1,217 | €911 | €911 | €1,744 | €2,093 | €3,010 | €3,085 | ▲ 2.5% |
| Stocks30/36 | - | - | - | €911 | €1,744 | €2,093 | €3,010 | €3,085 | ▲ 2.5% |
| Amounts receivable within one year40/41 | €639 | €316 | €241 | €2,791 | €894 | €2,207 | €1,456 | €446 | ▼ 69.4% |
| Trade receivables40 | - | - | - | €2,129 | €0 | - | - | - | - |
| Other amounts receivable41 | - | - | - | €662 | €894 | €2,207 | €1,456 | €446 | ▼ 69.4% |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €923 | €1,088 | €6,648 | €6,786 | €10,719 | €26,593 | €35,652 | €33,921 | ▼ 4.9% |
| Deferred charges and accrued income490/1 | - | - | - | €1,578 | €1,757 | €1,911 | €2,033 | €2,258 | ▲ 11.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €149,329 | €138,034 | €128,562 | €117,286 | €115,232 | €123,279 | €123,277 | €114,102 | ▼ 7.4% |
| Equity10/15 | €43,909 | €47,981 | €57,818 | €61,628 | €69,815 | €80,169 | €86,666 | €85,209 | ▼ 1.7% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €19,498 | €23,570 | €33,407 | €37,217 | €45,404 | €55,758 | €62,255 | €60,798 | ▼ 2.3% |
| Non-distributable reserves130/1 | - | - | - | €1,875 | €1,875 | €1,875 | €1,875 | €1,875 | = |
| Reserves not available under the articles1311 | - | - | - | €1,875 | €1,875 | €1,875 | €1,875 | €1,875 | = |
| Distributable reserves133 | - | - | - | €35,342 | €43,529 | €53,883 | €60,380 | €58,923 | ▼ 2.4% |
| Profit (loss) carried forward14 | €12,011 | €12,011 | €12,011 | €12,011 | €12,011 | €12,011 | €12,011 | €12,011 | = |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €105,420 | €90,052 | €70,745 | €55,658 | €45,417 | €43,110 | €36,611 | €28,893 | ▼ 21.1% |
| Amounts payable after more than one year17 | €79,281 | €65,932 | €52,853 | €42,085 | €31,645 | €21,497 | €16,736 | €11,681 | ▼ 30.2% |
| Financial debts170/4 | - | - | - | €42,085 | €31,095 | €20,947 | €15,946 | €10,791 | ▼ 32.3% |
| Other amounts payable178/9 | - | - | - | - | €550 | €550 | €790 | €890 | ▲ 12.7% |
| Amounts payable within one year42/48 | €26,138 | €24,116 | €17,886 | €13,573 | €13,772 | €21,602 | €19,862 | €17,195 | ▼ 13.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €10,769 | €10,989 | €10,149 | €5,001 | €5,155 | ▲ 3.1% |
| Trade debts44 | €97 | €912 | €348 | €760 | €634 | €562 | €695 | €1,210 | ▲ 74.0% |
| Suppliers440/4 | - | - | - | €760 | €634 | €562 | €695 | €1,210 | ▲ 74.0% |
| Advances received on contracts in progress46 | - | - | - | - | - | €550 | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €2,044 | €2,148 | €2,341 | €4,543 | €838 | ▼ 81.6% |
| Taxes450/3 | - | - | - | €2,044 | €2,148 | €2,341 | €4,543 | €838 | ▼ 81.6% |
| Other amounts payable47/48 | - | - | - | €0 | - | €8,000 | €9,623 | €9,992 | ▲ 3.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | €0 | €12 | €13 | €17 | ▲ 32.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,218 | €4,072 | €9,836 | €3,811 | €8,186 | €18,354 | €16,120 | €12,451 | ▼ 22.8% |
| + Depreciation and write-downs630 | €14,222 | €14,328 | €14,237 | €14,151 | €11,865 | €9,643 | €9,348 | €6,734 | ▼ 28.0% |
| Operating cash flow (approximation) | €16,440 | €18,400 | €24,073 | €17,962 | €20,052 | €27,997 | €25,468 | €19,185 | ▼ 24.7% |
| Investment in fixed assets (approximation) | - | -€3,226 | €0 | -€150 | -€6,762 | €0 | €0 | €0 | - |
| Change in cash | - | €165 | €5,561 | €138 | €3,933 | €15,874 | €9,059 | -€1,731 | - |
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, 31,368 companies had the same profile as CHARBIN has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CHARBIN itself: 0.1% 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 31,368 companies, not a prediction for CHARBIN. 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 27 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-07-2026 | 2026-00266413 | |
| 31-12-2024 | micro format | 23-05-2025 | 2025-00103671 | |
| 31-12-2023 | micro format | 07-05-2024 | 2024-00086686 | |
| 31-12-2022 | micro format | 05-06-2023 | 2023-00110655 | |
| 31-12-2021 | micro format | 08-06-2022 | 2022-20054979 | |
| 31-12-2020 | micro format | 11-05-2021 | 2021-14000494 | |
| 31-12-2019 | micro format | 23-06-2020 | 2020-20800241 | |
| 31-12-2018 | micro format | 02-07-2019 | 2019-27600252 | |
| 31-12-2017 | micro format | 09-07-2018 | 2018-30800465 | |
| 31-12-2016 | micro format | 04-07-2017 | 2017-27100373 |