Ets KARAMAN
ActiveSummary
Ets KARAMAN has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €443,039 and a net result of €32,268. Equity is growing by ~20.9% per year across the filed fiscal years. Its solvency ranks better than 47% of 304 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▲+4
Solvency59▲+3
Growth85▲+17
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 1.73 against 1.8 in 2024; short-term debt: 34.3% and cash: 10.2% of total assets), but 65.6% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
34.4%
Return on assets
2.5%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
26 d late
2024
3 d early
2023
1 d early
2022
34 d early
2021
16 d early
2020
46 d early
2019
11 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 12 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 48% 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 28 July (4 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
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€2.1m▲ 63.8%
2020 · €1.3m
EBIT margin
4.3%▼ 2.4pp
2020 · 6.8%
Net result
€32,268▲ 199%
2024 · €10,792
Working capital
€322,036▼ 10.4%
2024 · €359,268
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 96, Personal service 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
Turnover€2.1m▲ 63.8%
Operating result€91,642▲ 4.9%€146,165▲ 59.5%€123,674▼ 15.4%€55,432▼ 55.2%€56,304▲ 1.6%
Net result€80,225above the sector's middle half▼ 3.6%€95,096above the sector's middle half▲ 18.5%€61,089above the sector's middle half▼ 35.8%€10,792within the sector's middle half▼ 82.3%€32,268within the sector's middle half▲ 199%
EBIT margin4.3%▼ 2.4pp
Equity€243,794above the sector's middle half▲ 49.0%€338,890within the sector's middle half▲ 39.0%€399,979within the sector's middle half▲ 18.0%€410,771within the sector's middle half▲ 2.7%€443,039within the sector's middle half▲ 7.9%
Total assets€1.1mabove the sector's middle half▲ 313%€1.4mabove the sector's middle half▲ 22.6%€1.3mwithin the sector's middle half▼ 4.4%€1.3mwithin the sector's middle half▲ 2.4%€1.3mwithin the sector's middle half▼ 3.1%
Debt€864,978▲ 723%€1.0m▲ 18.0%€899,128▼ 11.9%€919,640▲ 2.3%€846,023▼ 8.0%
Working capital€221,849above the sector's middle half▲ 22.2%€341,598above the sector's middle half▲ 54.0%€370,874above the sector's middle half▲ 8.6%€359,268above the sector's middle half▼ 3.1%€322,036within the sector's middle half▼ 10.4%
Solvency22.0%within the sector's middle half▼ 38.9pp24.9%within the sector's middle half▲ 2.9pp30.8%within the sector's middle half▲ 5.9pp30.9%within the sector's middle half▲ 0.1pp34.4%within the sector's middle half▲ 3.5pp
Current ratio1.75within the sector's middle half▼ 1.491.75within the sector's middle half▲ 0.011.95within the sector's middle half▲ 0.201.80within the sector's middle half▼ 0.161.73within the sector's middle half▼ 0.07
Return on assets (ROA)7.2%within the sector's middle half▼ 23.7pp7.0%within the sector's middle half▼ 0.2pp4.7%within the sector's middle half▼ 2.3pp0.8%within the sector's middle half▼ 3.9pp2.5%within the sector's middle half▲ 1.7pp
Staff (FTE)1below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 96, Personal service activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 2% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€525,021 ▲ 0.8%
Current assets
€764,041 ▼ 5.6%
Equity and liabilities €1.3m
Equity
€443,039 ▲ 7.9%
Debt
€846,023 ▼ 8.0%
Debt's share of the balance-sheet total falls from 69.1% to 65.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€80,790▲
2024 · €80,133
Cash flow
€56,754▲
2024 · €35,492
Quick ratio
0.76▼
2024 · 1.26
Debt to equity
1.91▼
2024 · 2.24
ROE
7.3%▲
2024 · 2.6%
Interest coverage
5.21▲
2024 · 4.98
Debt ≤ 1 year
€442,006▼
2024 · €450,154
Debt > 1 year
€400,018▼
2024 · €469,486
Income taxes
€11,127▼
2024 · €31,328
Staff costs
€989
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,039 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 17,039 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €2.1m | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €2.0m | - | - | - | - | - |
| Remuneration, social security and pensions62 | €4,140 | - | - | - | €989 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,539 | €26,102 | €26,318 | €24,700 | €24,486 | ▼ 0.9% |
| Other operating charges640/8 | €13,452 | €10,413 | €13,286 | €14,147 | €11,193 | ▼ 20.9% |
| Non-recurring operating charges66A | €62 | - | - | - | €3,208 | - |
| Gross operating margin9900 | €129,836 | €182,680 | €163,277 | €94,279 | €96,180 | ▲ 2.0% |
| Operating profit (loss)9901 | €91,642 | €146,165 | €123,674 | €55,432 | €56,304 | ▲ 1.6% |
| Financial income75/76B | €5,506 | €28 | €199 | €2,771 | €2,607 | ▼ 5.9% |
| Recurring financial income75 | €6 | €28 | €199 | €2,771 | €2,607 | ▼ 5.9% |
| Non-recurring financial income76B | €5,500 | - | - | - | - | - |
| Financial charges65/66B | €12,401 | €17,034 | €16,736 | €16,084 | €15,516 | ▼ 3.5% |
| Recurring financial charges65 | €12,401 | €17,034 | €16,736 | €16,084 | €15,516 | ▼ 3.5% |
| Profit (loss) for the period before taxes9903 | €84,748 | €129,158 | €107,137 | €42,120 | €43,395 | ▲ 3.0% |
| Income taxes67/77 | €4,522 | €34,062 | €46,047 | €31,328 | €11,127 | ▼ 64.5% |
| Profit (loss) for the period9904 | €80,225 | €95,096 | €61,089 | €10,792 | €32,268 | ▲ 199% |
| Profit (loss) for the period to be appropriated9905 | €80,225 | €95,096 | €61,089 | €10,792 | €32,268 | ▲ 199% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.4m | €1.3m | €1.3m | €1.3m | ▼ 3.1% |
| Fixed assets21/28 | €590,703 | €564,601 | €539,245 | €520,989 | €525,021 | ▲ 0.8% |
| Tangible fixed assets22/27 | €588,203 | €562,101 | €536,745 | €518,489 | €522,521 | ▲ 0.8% |
| Land and buildings22 | €548,438 | €529,688 | €510,938 | €492,188 | €515,986 | ▲ 4.8% |
| Plant, machinery and equipment23 | €23,104 | €20,604 | €18,104 | €15,604 | - | - |
| Furniture and vehicles24 | €16,661 | €11,809 | €7,703 | €10,697 | €6,536 | ▼ 38.9% |
| Financial fixed assets28 | €2,500 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Current assets29/58 | €518,070 | €794,537 | €759,863 | €809,423 | €764,041 | ▼ 5.6% |
| Stocks and contracts in progress3 | €223,726 | €437,307 | €320,339 | €244,033 | €426,397 | ▲ 74.7% |
| Stocks30/36 | €223,726 | €437,307 | €320,339 | €244,033 | €426,397 | ▲ 74.7% |
| Amounts receivable within one year40/41 | €172,735 | €238,737 | €54,870 | €145,432 | €205,815 | ▲ 41.5% |
| Trade receivables40 | €23,786 | €41,066 | €32,053 | €13,952 | €65,090 | ▲ 367% |
| Other amounts receivable41 | €148,949 | €197,671 | €22,816 | €131,480 | €140,725 | ▲ 7.0% |
| Cash at bank and in hand54/58 | €121,608 | €118,493 | €384,654 | €419,957 | €131,829 | ▼ 68.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.4m | €1.3m | €1.3m | €1.3m | ▼ 3.1% |
| Equity10/15 | €243,794 | €338,890 | €399,979 | €410,771 | €443,039 | ▲ 7.9% |
| Contributions10/11 | €26,029 | €26,029 | €26,029 | €26,029 | €26,029 | = |
| Capital10 | €26,029 | €26,029 | €26,029 | €26,029 | €26,029 | = |
| Issued capital100 | €26,029 | €26,029 | €26,029 | €26,029 | €26,029 | = |
| Reserves13 | €42,656 | €67,656 | €92,656 | €92,656 | €117,656 | ▲ 27.0% |
| Non-distributable reserves130/1 | €2,656 | €2,656 | €2,656 | €2,656 | €2,656 | = |
| Legal reserve130 | €2,656 | €2,656 | €2,656 | €2,656 | €2,656 | = |
| Distributable reserves133 | €40,000 | €65,000 | €90,000 | €90,000 | €115,000 | ▲ 27.8% |
| Profit (loss) carried forward14 | €175,109 | €245,205 | €281,294 | €292,086 | €299,354 | ▲ 2.5% |
| Amounts payable17/49 | €864,978 | €1.0m | €899,128 | €919,640 | €846,023 | ▼ 8.0% |
| Amounts payable after more than one year17 | €568,757 | €567,309 | €510,140 | €469,486 | €400,018 | ▼ 14.8% |
| Financial debts170/4 | €568,757 | €567,309 | €510,140 | €469,486 | €400,018 | ▼ 14.8% |
| Amounts payable within one year42/48 | €296,221 | €452,939 | €388,988 | €450,154 | €442,006 | ▼ 1.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €35,165 | - |
| Trade debts44 | €9,707 | €50,382 | €64,407 | €72,570 | €116,284 | ▲ 60.2% |
| Suppliers440/4 | €9,707 | €50,382 | €64,407 | €72,570 | €116,284 | ▲ 60.2% |
| Taxes, remuneration and social security45 | €6,241 | €2,475 | - | €3,002 | €194 | ▼ 93.6% |
| Taxes450/3 | €45 | €2,430 | - | €3,002 | - | - |
| Remuneration and social security454/9 | €6,196 | €45 | - | - | €194 | - |
| Other amounts payable47/48 | €280,273 | €400,082 | €324,582 | €374,582 | €290,363 | ▼ 22.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | €4,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €80,225 | €95,096 | €61,089 | €10,792 | €32,268 | ▲ 199% |
| + Depreciation and write-downs630 | €20,539 | €26,102 | €26,318 | €24,700 | €24,486 | ▼ 0.9% |
| Operating cash flow (approximation) | €100,765 | €121,198 | €87,407 | €35,492 | €56,754 | ▲ 59.9% |
| Investment in fixed assets (approximation) | - | €0 | -€962 | -€6,444 | -€28,518 | ▼ 343% |
| Change in cash | - | -€3,115 | €266,161 | €35,303 | -€288,128 | ▼ 916% |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 26 days late
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €10,792 ▼82.3%
Net result drops to €10,792, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €95,096 ▲18.5%
Operating result €146,165, net result €95,096, both a record.
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €200,000Eq €243,794 ▲49%
4 profitable years in a row build equity to €243,794.
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €150,000Eq €163,569 ▲104%
3 profitable years in a row build equity to €163,569.
20-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
09-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
14 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Charleroi · 1 establishment unit since 2022
Ground area
4,437 m²
Building footprint
692 m²
Volume, LiDAR
4,274 m³
2 parcels, Wallonia · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
MK MOTOR
since 20222.337.887.664
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56001C0005/00E000 | Wallonia | 2,282 m² | 1 · 500 m² | 8.1 m · 2 fl. |
| 52352C0100/00N003 | Wallonia | 2,156 m² | 1 · 192 m² | 10.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Van den Brande Noël
BE 0428.462.460
Nazareth-De Pinte · Eq €443,416
Capper-ine
BE 0836.027.360
Berlare · Eq €438,816
KEROS
BE 0461.896.281
Stabroek · Eq €453,515
NoNa
BE 0698.597.364
Maldegem · Eq €453,555
E.S.T. PRODUCTION
BE 0458.590.759
Nivelles · Eq €431,042
Of 21,733 companies in sector 96210 we hold annual accounts for 2,836. 820 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
Founded31-12-1990
Fiscal year end31-12
Activities, NACEBEL 2025
96210Hairdressing and barber services
47811Retail sale of cars and light vans (up to 3.5 tonnes)
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
71201Architectural and engineering activities; technical testing and analysis
E-invoicing
Reachable via Peppol
Peppol ID
0208:0442769168
Registered
30-04-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.