KARAMEL
ActiveSummary
KARAMEL is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show negative equity (-€6,316) and a net result of -€2,806. Equity is shrinking by ~98.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 2463 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 2463 sector peers (2025).
NBB · sector comparisonPosition among 2463 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
31 d late
2024
31 d late
2023
29 d late
2022
29 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 30 days after the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€6,316▼ 80.0%
2024 · -€3,510
Net result
-€2,806▲ 54.7%
2024 · -€6,195
Total assets
€1,708▼ 30.7%
2024 · €2,466
Solvency
-369.7%▼ 227.3pp
2024 · -142.3%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance 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
Line2022202320242025
Operating result-€2,292-€143-€5,898-€2,472▲ 58.1%
Net result-€2,320below the sector's middle half-€5below the sector's middle half-€6,195below the sector's middle half-€2,806below the sector's middle half▲ 54.7%
Equity€2,680below the sector's middle half-€2,685below the sector's middle half▲ 0.2%-€3,510below the sector's middle half-€6,316below the sector's middle half▼ 80.0%
Total assets€3,727below the sector's middle half-€6,643below the sector's middle half▲ 78.2%€2,466below the sector's middle half▼ 62.9%€1,708below the sector's middle half▼ 30.7%
Debt€1,047-€3,958▲ 278%€5,976▲ 51.0%€8,024▲ 34.3%
Working capital€1,662within the sector's middle half-€1,928within the sector's middle half▲ 16.0%-€4,007within the sector's middle half-€6,553within the sector's middle half▼ 63.5%
Solvency71.9%within the sector's middle half-40.4%within the sector's middle half▼ 31.5pp-142.3%below the sector's middle half▼ 182.7pp-369.7%below the sector's middle half▼ 227.3pp
Current ratio1.49within the sector's middle half
Return on assets (ROA)0.1%below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2,472 in 2025 against €5,898 in 2024; the loss shrinks.
Key figures and ratios
Debt ≤ 1 year
€8,024▲
2024 · €5,976
Ratios withheld: a balance sheet total of €1,708 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €283 | €260 | €260 | €260 | = |
| Other operating charges640/8 | €695 | €384 | €387 | €503 | ▲ 29.9% |
| Gross operating margin9900 | -€1,314 | €787 | -€5,250 | -€1,709 | ▲ 67.5% |
| Operating profit (loss)9901 | -€2,292 | €143 | -€5,898 | -€2,472 | ▲ 58.1% |
| Financial charges65/66B | €28 | €137 | €297 | €334 | ▲ 12.3% |
| Recurring financial charges65 | €28 | €137 | €297 | €334 | ▲ 12.3% |
| Profit (loss) for the period before taxes9903 | -€2,320 | €5 | -€6,195 | -€2,806 | ▲ 54.7% |
| Profit (loss) for the period9904 | -€2,320 | €5 | -€6,195 | -€2,806 | ▲ 54.7% |
| Profit (loss) for the period to be appropriated9905 | -€2,320 | €5 | -€6,195 | -€2,806 | ▲ 54.7% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €3,727 | €6,643 | €2,466 | €1,708 | ▼ 30.7% |
| Formation expenses20 | €1,017 | €757 | €497 | €237 | ▼ 52.3% |
| Current assets29/58 | €2,710 | €5,886 | €1,969 | €1,471 | ▼ 25.3% |
| Amounts receivable within one year40/41 | - | €67 | €446 | €290 | ▼ 35.0% |
| Trade receivables40 | - | €67 | €446 | €290 | ▼ 35.0% |
| Cash at bank and in hand54/58 | €2,710 | €5,129 | €1,523 | €1,182 | ▼ 22.4% |
| Deferred charges and accrued income490/1 | - | €690 | - | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €3,727 | €6,643 | €2,466 | €1,708 | ▼ 30.7% |
| Equity10/15 | €2,680 | €2,685 | -€3,510 | -€6,316 | ▼ 80.0% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€2,320 | -€2,315 | -€8,510 | -€11,316 | ▼ 33.0% |
| Amounts payable17/49 | €1,047 | €3,958 | €5,976 | €8,024 | ▲ 34.3% |
| Amounts payable within one year42/48 | €1,047 | €3,958 | €5,976 | €8,024 | ▲ 34.3% |
| Trade debts44 | €375 | €3,216 | €5,299 | €7,300 | ▲ 37.7% |
| Suppliers440/4 | €375 | €3,216 | €5,299 | €7,300 | ▲ 37.7% |
| Taxes, remuneration and social security45 | - | €69 | - | €33 | - |
| Taxes450/3 | - | €69 | - | €33 | - |
| Other amounts payable47/48 | €672 | €672 | €676 | €692 | ▲ 2.3% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,320 | €5 | -€6,195 | -€2,806 | ▲ 54.7% |
| + Depreciation and write-downs630 | €283 | €260 | €260 | €260 | = |
| Operating cash flow (approximation) | -€2,038 | €265 | -€5,935 | -€2,546 | ▲ 57.1% |
| Change in cash | - | €2,419 | -€3,606 | -€341 | ▲ 90.5% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Weakest financial yearnet -€6,195
Net result drops to -€6,195, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Back to profitnet €5
Net result €5 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Waterloo · 2 establishment units since 2021
Ground area
670 m²
Building footprint
233 m²
Volume, LiDAR
2,616 m³
2 parcels, Brussels, Wallonia · tallest building 20.6 m, ±6 floors. Linked by address, not a title deed.
2 establishment units
KARAMEL
since 20212.324.939.154
Karamel
since 20222.338.137.488
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25110C0144/00C000 | Wallonia | 558 m² | 1 · 121 m² | 6.8 m · 2 fl. |
| 21618B0277/00Z019 | Brussels | 111 m² | 1 · 112 m² | 20.6 m · 6 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.
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Of 4,673 companies in sector 66220 we hold annual accounts for 3,222. 353 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
Founded01-12-2021
Fiscal year end31-12
Activities, NACEBEL 2025
66220Insurance agents and brokers
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0777901693
Also
9925:BE0777901693
Registered
18-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.