IMMO CARNIN
ActiveSummary
The computed 12-month bankruptcy probability of IMMO CARNIN is 1.6% (moderate). The 2024 annual accounts show equity of €55,821 and a net result of -€5,505. Equity is shrinking by ~18.2% per year across the filed fiscal years. The company has been active since 1995 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Checked score
Score 2024
Axes · tick = 2023
Profitability66▼-1
Solvency44=
Growth32=
Track record92
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity short (current ratio 0.22 against 0.21 in 2023; short-term debt: 81.5% and cash: 16.9% of total assets), and 81.5% of the assets are financed with debt.
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Signals
Eight 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
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 2024Solvency, return and age of the figures
Solvency
18.5%
Return on assets
-1.8%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€5,505
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-07-2025, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
21 d early
2023
42 d early
2022
16 d late
2021
34 d early
2020
39 d early
2019
12 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 18 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Strikeout withdrawal
History
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Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€5,505▼ 22.8%
2023 · -€4,482
Working capital
-€191,549▲ 9.6%
2023 · -€211,881
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€9,452-€44,278▼ 368%€10,355-€4,081-€4,962▼ 21.6%
Net result-€13,753▼ 47.5%-€44,705▼ 225%€8,510-€4,482-€5,505▼ 22.8%
Equity€102,003▼ 11.9%€57,298▼ 43.8%€65,809▲ 14.9%€61,326▼ 6.8%€55,821▼ 9.0%
Total assets€389,933▲ 0.1%€343,283▼ 12.0%€343,043▼ 0.1%€329,235▼ 4.0%€301,292▼ 8.5%
Debt€287,930▲ 5.1%€285,985▼ 0.7%€277,235▼ 3.1%€267,909▼ 3.4%€245,471▼ 8.4%
Working capital-€281,287▼ 10.9%-€273,179▲ 2.9%-€232,047▲ 15.1%-€211,881▲ 8.7%-€191,549▲ 9.6%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4,962 in 2024 against €4,081 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €301,292
Fixed assets
€247,371 ▼ 9.5%
Current assets
€53,922 ▼ 3.8%
Equity and liabilities €301,292
Equity
€55,821 ▼ 9.0%
Debt
€245,471 ▼ 8.4%
Debt's share of the balance-sheet total rises from 81.4% to 81.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€38,583▲
2023 · €37,012
Cash flow
€38,040▲
2023 · €36,611
Current ratio
0.22▲
2023 · 0.21
Debt to equity
4.40▲
2023 · 4.37
ROE
-9.9%▼
2023 · -7.3%
ROA
-1.8%▼
2023 · -1.4%
Interest coverage
152.34▲
2023 · 91.88
Debt ≤ 1 year
€245,471▼
2023 · €267,909
Income taxes
€290
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,448 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a small loss
1.4%
went bankrupt
5.0%
stopped otherwise
93%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.6% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 2,448 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,303 | €38,330 | €40,581 | €41,093 | €43,545 | ▲ 6.0% |
| Other operating charges640/8 | - | €52,564 | €9,750 | €19,157 | €11,706 | ▼ 38.9% |
| Gross operating margin9900 | €31,851 | €46,616 | €60,686 | €56,169 | €50,289 | ▼ 10.5% |
| Operating profit (loss)9901 | -€9,452 | -€44,278 | €10,355 | -€4,081 | -€4,962 | ▼ 21.6% |
| Financial income75/76B | - | - | - | €1 | - | - |
| Recurring financial income75 | €30 | - | - | €1 | - | - |
| Financial charges65/66B | - | €247 | €1,699 | €403 | €253 | ▼ 37.1% |
| Recurring financial charges65 | €239 | €247 | €1,699 | €403 | €253 | ▼ 37.1% |
| Profit (loss) for the period before taxes9903 | -€9,661 | -€44,525 | €8,656 | -€4,482 | -€5,215 | ▼ 16.4% |
| Income taxes67/77 | €4,091 | €180 | €146 | - | €290 | - |
| Profit (loss) for the period9904 | -€13,753 | -€44,705 | €8,510 | -€4,482 | -€5,505 | ▼ 22.8% |
| Profit (loss) for the period to be appropriated9905 | -€13,753 | -€44,705 | €8,510 | -€4,482 | -€5,505 | ▼ 22.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €389,933 | €343,283 | €343,043 | €329,235 | €301,292 | ▼ 8.5% |
| Fixed assets21/28 | €383,290 | €330,478 | €303,209 | €273,207 | €247,371 | ▼ 9.5% |
| Tangible fixed assets22/27 | €383,290 | €330,478 | €303,209 | €273,207 | €247,371 | ▼ 9.5% |
| Land and buildings22 | - | €260,004 | €229,625 | €199,247 | €168,868 | ▼ 15.2% |
| Furniture and vehicles24 | - | - | €2,483 | €1,495 | €7,216 | ▲ 383% |
| Other tangible fixed assets26 | - | €70,473 | €71,101 | €72,466 | €71,288 | ▼ 1.6% |
| Current assets29/58 | €6,643 | €12,805 | €39,834 | €56,028 | €53,922 | ▼ 3.8% |
| Amounts receivable within one year40/41 | - | €609 | - | - | - | - |
| Other amounts receivable41 | - | €609 | - | - | - | - |
| Cash at bank and in hand54/58 | €4,116 | €9,577 | €39,834 | €52,564 | €50,795 | ▼ 3.4% |
| Deferred charges and accrued income490/1 | - | €2,620 | - | €3,464 | €3,127 | ▼ 9.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €389,933 | €343,283 | €343,043 | €329,235 | €301,292 | ▼ 8.5% |
| Equity10/15 | €102,003 | €57,298 | €65,809 | €61,326 | €55,821 | ▼ 9.0% |
| Contributions10/11 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Capital10 | - | €30,987 | €30,987 | - | - | - |
| Issued capital100 | - | €30,987 | €30,987 | - | - | - |
| Profit (loss) carried forward14 | €71,017 | €26,312 | €34,822 | €30,340 | €24,835 | ▼ 18.1% |
| Amounts payable17/49 | €287,930 | €285,985 | €277,235 | €267,909 | €245,471 | ▼ 8.4% |
| Amounts payable within one year42/48 | €287,930 | €285,985 | €271,881 | €267,909 | €245,471 | ▼ 8.4% |
| Current portion of amounts payable after more than one year42 | - | - | €4,000 | €4,000 | €4,000 | = |
| Trade debts44 | €20,570 | €3,198 | €884 | €969 | €1,231 | ▲ 27.1% |
| Suppliers440/4 | - | €3,198 | €884 | €969 | €1,231 | ▲ 27.1% |
| Other amounts payable47/48 | - | €282,786 | €266,997 | €262,940 | €240,240 | ▼ 8.6% |
| Accrued charges and deferred income492/3 | - | - | €5,353 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,753 | -€44,705 | €8,510 | -€4,482 | -€5,505 | ▼ 22.8% |
| + Depreciation and write-downs630 | €41,303 | €38,330 | €40,581 | €41,093 | €43,545 | ▲ 6.0% |
| Operating cash flow (approximation) | €27,550 | -€6,375 | €49,091 | €36,611 | €38,040 | ▲ 3.9% |
| Investment in fixed assets (approximation) | - | €14,482 | -€13,312 | -€11,091 | -€17,709 | ▼ 59.7% |
| Change in cash | - | €5,461 | €30,258 | €12,730 | -€1,769 | ▼ 114% |
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
2025
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
2022
31-12
Financial
Back to profitnet €8,510
Net result €8,510 after 3 loss-making years.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€44,705
Net result drops to -€44,705, the lowest in the series; recovery starts the following year.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
12-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 12 days late
2019
29-11
KBO administration
Strikeout withdrawal
event 12-11-2019
12-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 104 days late
16-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 442 days late
16-10
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 1172 days late
2017
10-04
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 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, Elsene · 1 establishment unit since 1996
Ground area
1,321 m²
Building footprint
362 m²
Volume, LiDAR
4,865 m³
Parcel 21443C0190/03B003, Brussels · tallest building 19.4 m, ±5 floors. Linked by address, not a title deed.
12
companies at this address
See who is registered here
1 establishment unit
IMMO CARNIN SA
since 19962.075.243.338
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21443C0190/03B003 | Brussels | 1,321 m² | 1 · 362 m² | 19.4 m · 5 fl. |
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.
Identification & contact
Identification
Legal formPublic limited company
Founded13-11-1995
Fiscal year end31-12
Contact
E-mail
Nelly.bejstrup@gmail.comElsene
E-invoicing
Reachable via Peppol
Peppol ID
0208:0456448346
Also
9925:BE0456448346
Registered
15-12-2025
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.