D-CARBONIZE

Active

Private limited companyfounded 20215 yrs activeFrankenstraat 79, 1040 Etterbeek, BelgiumKBO/BCE: BE 0772.823.150

The annual accounts of D-CARBONIZE for fiscal year 2025 show a net loss of 62% of total assets and of 184% of the equity at the start of that year. The 2025 annual accounts show equity of €495k and a net result of €-767k. Equity is shrinking by ~24% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 39% of 8663 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.1% (low).

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Checked score

Score 2025

49 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0=

Solvency65▲+4

Growth32=

Track record94

Bankruptcy probability, 12 months

1.1% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €24k at 30 days only on tighter terms

Net loss of at least half of total assets or of the equity at the start of the financial year.

Liquidity tight (current ratio 1.06 against 1.24 in 2024; short-term debt: 31.5% and cash: 12.6% of total assets), and 60% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

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

Sector 70

lower

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

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 2025

Solvency, return and age of the figures

Solvency

40%

Return on assets

-61.9%

Age of the figures

9 mo

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.

NBB · 4 filings

Deviation from the deadline

2025

29 d early

2024

44 d early

2023

23 d early

2022

4 d early

← before the deadline after the deadline →

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.

Companies Code · seven months

Position in the running window

23-09-2026 today31-12-2026 close31-07-2027 deadline

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

Financials · fiscal year 2025, abbreviated schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-767k▼ 41.4%

2024 · €-543k

2022: €-105k 2023: €-395k 2024: €-543k

2022 → 2025

Working capital

€25k▼ 71.7%

2024 · €88k

2022: €718k 2023: €612k 2024: €88k

2022 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2022202320242025Trend

Equity€830k-€960k▲ 15.7%€417k▼ 56.5%€495k▲ 18.7%

Operating result€-96k-€-387k▼ 305%€-523k▼ 35.2%€-737k▼ 41.0%

Net result€-105k-€-395k▼ 278%€-543k▼ 37.4%€-767k▼ 41.4%

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €737k in 2025 against €523k in 2024; the loss grows and 2025 has the lowest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €1.24M

66.5%

33.5%

Fixed assets €824k▲ 18.4%

Current assets €415k▼ 8.1%

Equity and liabilities €1.24M

40.0%

60.0%

Equity €495k▲ 18.7%

Debt €744k▲ 1.8%

The debt ratio falls from 63.7% to 60.0%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€-517k▼

2024 · €-381k

Cash flow

€-547k▼

2024 · €-400k

Solvency

40.0%▲

2024 · 36.3%

Current ratio

1.06▼

2024 · 1.24

Quick ratio

1.06▼

2024 · 1.24

Debt / equity

1.50▼

2024 · 1.75

ROE

-154.9%▼

2024 · -130.1%

ROA

-61.9%▼

2024 · -47.3%

Interest coverage

-17.36▲

2024 · -19.51

Debt

€744k▲

2024 · €730k

Debt ≤ 1 year

€390k▲

2024 · €364k

Debt > 1 year

€142k▼

2024 · €158k

Income taxes

€141▲

2024 · €128

Staff costs

€890k▲

2024 · €782k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€1.15M€1.24M▲

Fixed assets21/28€696k€824k▲

Intangible fixed assets21€685k€818k▲

Tangible fixed assets22/27€9k€4k▼

Furniture and vehicles24€9k€4k▼

Financial fixed assets28€2k€2k▼

Current assets29/58€452k€415k▼

Amounts receivable within one year40/41€302k€211k▼

Trade receivables40€179k€124k▼

Other amounts receivable41€122k€87k▼

Cash at bank and in hand54/58€121k€156k▲

Deferred charges and accrued income490/1€29k€49k▲

Equity and liabilities

Total equity and liabilities10/49€1.15M€1.24M▲

Equity10/15€417k€495k▲

Contributions10/11€1.46M€676k▼

Profit (loss) carried forward14€-1.04M€-181k▲

Amounts payable17/49€730k€744k▲

Amounts payable after more than one year17€158k€142k▼

Financial debts170/4€158k€142k▼

Amounts payable within one year42/48€364k€390k▲

Current portion of amounts payable after more than one year42€114k€123k▲

Financial debts43€3k€4k▲

Credit institutions430/8€3k€4k▲

Trade debts44€138k€153k▲

Suppliers440/4€138k€128k▼

Bills of exchange payable441-€25k

Advances received on contracts in progress46€90€90=

Taxes, remuneration and social security45€91k€93k▲

Taxes450/3€14k€12k▼

Remuneration and social security454/9€77k€81k▲

Other amounts payable47/48€17k€17k▼

Accrued charges and deferred income492/3€209k€212k▲

Income statement Code20242025

Remuneration, social security and pensions62€782k€890k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€143k€220k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€2k€0▼

Other operating charges640/8€2k€1k▼

Non-recurring operating charges66A€495€13▼

Gross operating margin9900€405k€374k▼

Operating profit (loss)9901€-523k€-737k▼

Financial income75/76B€36€42▲

Recurring financial income75€36€42▲

Financial charges65/66B€20k€30k▲

Recurring financial charges65€20k€30k▲

Profit (loss) for the period before taxes9903€-543k€-767k▼

Income taxes67/77€128€141▲

Profit (loss) for the period9904€-543k€-767k▼

Profit (loss) for the period to be appropriated9905€-543k€-767k▼

Appropriation of the result

Profit (loss) to be appropriated9906€-1.04M€-1.81M▼

Profit (loss) brought forward from the previous period14P€-500k€-1.04M▼

Transfer from equity791/2-€1.63M

Social balance

Average headcount (FTE)908711.712.7▲

The notes to these accounts (24 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 6Financial 1Gazette 1Filings 4

Next filing, fiscal year 2026, expected by 31-07-2027

2026

10-09

State Gazette act General meeting · Director discharge

General meeting · Director discharge · Director resignation7 facts ▸

General meeting, 2026-06-25
Director discharge, ALPHA 11
Director discharge, Pyxis & Co SA
Director discharge, BDO Réviseurs d'entreprises
Director resignation, SMAX (administrateur et président du conseil d'administration)
Auditor reappointment, BDO Réviseurs d'entreprises
Permanent representative, Denis ANCION

02-07

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-12

Financial Weakest financial yearnet €-767k

Net result drops to €-767k, the lowest in the series.

17-06

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

08-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

27-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 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.

25-06-2026 SMAX: Resigned as Administrateur et président du conseil d'administration

26-06-2025 Daniel Verougstraete: Resigned as Director

06-10-2023 Sébastien Mahieu: Resigned as Director

Location & real-estate footprint

Registered office, Etterbeek · 2 establishment units since 2021

establishment approximate All 2 establishment units on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Frankenstraat 791040 Etterbeek

Ground area

7,270 m²

Building footprint

3,888 m²

Volume, LiDAR

57,921 m³

3 parcels, Brussels, Wallonia · tallest building 22.8 m, ±5 floors. Linked by address, not a title deed.

2 establishment units

D-CARBONIZE

Grootveldlaan 77, 1150 Sint-Pieters-WoluweIT consultancy

since 20212.321.114.978

Chaussée de Huy 120, 1300 Wavre

IT consultancy

since 20222.332.906.418

3 parcels

Wallonia 1 (33.3%) Brussels 2 (66.7%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21362B0225/00Z005	Brussels	3,610 m²	1 · 3,528 m²	22.8 m · 5 fl.
25772H0095/00B004	Wallonia	2,784 m²	1 · 249 m²	9.0 m · 2 fl.
21683D0306/00N002	Brussels	876 m²	1 · 111 m²	10.2 m · 3 fl.