KARFIN
ActiveSummary
KARFIN has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.61M and a net result of €27k. Equity remains stable across the filed fiscal years (±1.7% per year). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability19▼-9
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €230k at 30 days acceptable
Liquidity ample (current ratio 11.3 against 25.83 in 2024; short-term debt: 4% and cash: 1% of total assets), and 24.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
75.2%
Return on assets
0.6%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
31 d early
2023
42 d early
2022
on the day
2021
31 d early
2020
18 d late
2019
7 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€3.61M▼ 3.0%
2024 · €3.72M
2018: €3.80Mhighest in 8 years
2019: €3.72M▼ -1.9% vs 2018
2020: €3.63M▼ -2.6% vs 2019
2021: €3.47M▼ -4.3% vs 2020
2022: €3.35M▼ -3.5% vs 2021lowest in 8 years
2023: €3.36M▲ +0.4% vs 2022
2024: €3.72M▲ +10.8% vs 2023
2025: €3.61M▼ -3.0% vs 2024
2018 → 2025
Total assets
€4.80M▼ 0.1%
2024 · €4.81M
2018: €4.17M
2019: €3.96M▼ -5.0% vs 2018lowest in 8 years
2020: €4.38M▲ +10.7% vs 2019
2021: €4.46M▲ +1.7% vs 2020
2022: €4.37M▼ -1.9% vs 2021
2023: €4.43M▲ +1.4% vs 2022
2024: €4.81M▲ +8.5% vs 2023highest in 8 years
2025: €4.80M▼ -0.1% vs 2024
2018 → 2025
Net result
€27k▼ 92.5%
2024 · €362k
2018: €-321klowest in 8 years
2019: €101k▲ +131% vs 2018
2020: €-97k▼ -197% vs 2019
2021: €69k▲ +171% vs 2020
2022: €-121k▼ -275% vs 2021
2023: €13k▲ +111% vs 2022
2024: €362k▲ +2584% vs 2023highest in 8 years
2025: €27k▼ -92.5% vs 2024
2018 → 2025
Working capital
€1.96M▼ 6.3%
2024 · €2.09M
2018: €973k
2019: €930k▼ -4.5% vs 2018lowest in 8 years
2020: €1.58M▲ +70.0% vs 2019
2021: €1.72M▲ +8.7% vs 2020
2022: €1.64M▼ -4.3% vs 2021
2023: €1.69M▲ +2.9% vs 2022
2024: €2.09M▲ +23.4% vs 2023highest in 8 years
2025: €1.96M▼ -6.3% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€3.47M-€3.35M▼ 3.5%€3.36M▲ 0.4%€3.72M▲ 10.8%€3.61M▼ 3.0%
2021: €3.47M
2022: €3.35M▼ -3.5% vs 2021lowest in 5 years
2023: €3.36M▲ +0.4% vs 2022
2024: €3.72M▲ +10.8% vs 2023highest in 5 years
2025: €3.61M▼ -3.0% vs 2024
Operating result€-47k-€-86k▼ 81.0%€-47k▲ 45.0%€-50k▼ 6.7%€-48k▲ 3.9%
2021: €-47k
2022: €-86k▼ -81.0% vs 2021lowest in 5 years
2023: €-47k▲ +45.0% vs 2022highest in 5 years
2024: €-50k▼ -6.7% vs 2023
2025: €-48k▲ +3.9% vs 2024
Net result€69k-€-121k€13k€362k▲ 2,584%€27k▼ 92.5%
2021: €69k
2022: €-121k▼ -275% vs 2021lowest in 5 years
2023: €13k▲ +111% vs 2022
2024: €362k▲ +2584% vs 2023highest in 5 years
2025: €27k▼ -92.5% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €48k in 2025 against €50k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.80M
Fixed assets
€2.66M ▲ 0.7%
Current assets
€2.15M ▼ 1.2%
Equity and liabilities €4.80M
Equity
€3.61M ▼ 3.0%
Debt
€1.19M ▲ 9.7%
Debt's share of the balance-sheet total rises from 22.6% to 24.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-19k▼
2024 · €-16k
Cash flow
€57k▼
2024 · €396k
Current ratio
11.30▼
2024 · 25.83
Debt to equity
0.33▲
2024 · 0.29
ROE
0.8%▼
2024 · 9.7%
ROA
0.6%▼
2024 · 7.5%
Interest coverage
-0.21▼
2024 · -0.20
Debt ≤ 1 year
€190k▲
2024 · €84k
Debt > 1 year
€950k=
2024 · €950k
Income taxes
€0▼
2024 · €34k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 57 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.81M€4.80M▼
Fixed assets21/28€2.64M€2.66M▲
Tangible fixed assets22/27€2.63M€2.60M▼
Land and buildings22€2.61M€2.58M▼
Plant, machinery and equipment23€799€463▼
Furniture and vehicles24€0-
Other tangible fixed assets26€15k€15k=
Financial fixed assets28€13k€62k▲
Current assets29/58€2.17M€2.15M▼
Amounts receivable after more than one year29€270k€260k▼
Other amounts receivable291€270k€260k▼
Amounts receivable within one year40/41€19k€48k▲
Other amounts receivable41€19k€48k▲
Current investments50/53€1.85M€1.79M▼
Cash at bank and in hand54/58€27k€46k▲
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€4.81M€4.80M▼
Equity10/15€3.72M€3.61M▼
Contributions10/11€2.60M€2.60M=
Capital10€2.60M€2.60M=
Issued capital100€2.60M€2.60M=
Reserves13€679k€585k▼
Non-distributable reserves130/1€176k€178k▲
Legal reserve130€176k€178k▲
Distributable reserves133€502k€408k▼
Profit (loss) carried forward14€440k€421k▼
Amounts payable17/49€1.09M€1.19M▲
Amounts payable after more than one year17€950k€950k=
Financial debts170/4€950k€950k=
Amounts payable within one year42/48€84k€190k▲
Trade debts44-€45
Suppliers440/4-€45
Taxes, remuneration and social security45€18k€18k=
Taxes450/3€18k€18k=
Other amounts payable47/48€66k€172k▲
Accrued charges and deferred income492/3€53k€54k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€34k€30k▼
Other operating charges640/8€9k€9k▼
Gross operating margin9900€-7k€-10k▼
Operating profit (loss)9901€-50k€-48k▲
Financial income75/76B€528k€166k▼
Recurring financial income75€528k€166k▼
Financial charges65/66B€82k€90k▲
Recurring financial charges65€82k€90k▲
Profit (loss) for the period before taxes9903€396k€27k▼
Income taxes67/77€34k€0▼
Profit (loss) for the period9904€362k€27k▼
Profit (loss) for the period to be appropriated9905€362k€27k▼
Appropriation of the result
Profit (loss) to be appropriated9906€802k€467k▼
Profit (loss) brought forward from the previous period14P€440k€440k=
Transfer from equity791/2-€95k
Transfer to equity691/2€362k€1k▼
To the legal reserve6920€20k€1k▼
To other reserves6921€342k€0▼
Profit to be distributed694/7-€140k
Return on contributions (dividend)694-€95k
Directors or managers695-€45k
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €5k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37k | €34k | €34k | €34k | €30k | ▼ 12.2% |
| Other operating charges640/8 | €8k | €8k | €8k | €9k | €9k | ▼ 2.5% |
| Gross operating margin9900 | €-2k | €-44k | €-4k | €-7k | €-10k | ▼ 32.5% |
| Operating profit (loss)9901 | €-47k | €-86k | €-47k | €-50k | €-48k | ▲ 3.9% |
| Financial income75/76B | €157k | €56k | €65k | €528k | €166k | ▼ 68.7% |
| Recurring financial income75 | €157k | €56k | €65k | €528k | €166k | ▼ 68.7% |
| Financial charges65/66B | €34k | €92k | €4k | €82k | €90k | ▲ 9.8% |
| Recurring financial charges65 | €34k | €92k | €4k | €82k | €90k | ▲ 9.8% |
| Profit (loss) for the period before taxes9903 | €76k | €-121k | €13k | €396k | €27k | ▼ 93.1% |
| Income taxes67/77 | €7k | - | - | €34k | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €69k | €-121k | €13k | €362k | €27k | ▼ 92.5% |
| Profit (loss) for the period to be appropriated9905 | €69k | €-121k | €13k | €362k | €27k | ▼ 92.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.46M | €4.37M | €4.43M | €4.81M | €4.80M | ▼ 0.1% |
| Fixed assets21/28 | €2.74M | €2.70M | €2.67M | €2.64M | €2.66M | ▲ 0.7% |
| Tangible fixed assets22/27 | €2.73M | €2.69M | €2.66M | €2.63M | €2.60M | ▼ 1.1% |
| Land and buildings22 | €2.71M | €2.68M | €2.64M | €2.61M | €2.58M | ▼ 1.1% |
| Plant, machinery and equipment23 | - | - | - | €799 | €463 | ▼ 42.1% |
| Furniture and vehicles24 | €15k | €15k | €15k | €0 | - | - |
| Other tangible fixed assets26 | - | - | - | €15k | €15k | = |
| Financial fixed assets28 | €13k | €9k | €11k | €13k | €62k | ▲ 377% |
| Current assets29/58 | €1.72M | €1.67M | €1.76M | €2.17M | €2.15M | ▼ 1.2% |
| Amounts receivable after more than one year29 | €200k | €190k | €180k | €270k | €260k | ▼ 3.7% |
| Other amounts receivable291 | €200k | €190k | €180k | €270k | €260k | ▼ 3.7% |
| Amounts receivable within one year40/41 | €17k | €17k | €35k | €19k | €48k | ▲ 158% |
| Other amounts receivable41 | €17k | €17k | €35k | €19k | €48k | ▲ 158% |
| Current investments50/53 | €1.46M | €1.42M | €1.54M | €1.85M | €1.79M | ▼ 3.5% |
| Cash at bank and in hand54/58 | €38k | €36k | €11k | €27k | €46k | ▲ 69.6% |
| Deferred charges and accrued income490/1 | €2k | €2k | €2k | €2k | €2k | ▲ 18.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.46M | €4.37M | €4.43M | €4.81M | €4.80M | ▼ 0.1% |
| Equity10/15 | €3.47M | €3.35M | €3.36M | €3.72M | €3.61M | ▼ 3.0% |
| Contributions10/11 | €2.60M | €2.60M | €2.60M | €2.60M | €2.60M | = |
| Capital10 | €2.60M | €2.60M | €2.60M | €2.60M | €2.60M | = |
| Issued capital100 | €2.60M | €2.60M | €2.60M | €2.60M | €2.60M | = |
| Reserves13 | €316k | €316k | €317k | €679k | €585k | ▼ 13.8% |
| Non-distributable reserves130/1 | €156k | €156k | €156k | €176k | €178k | ▲ 0.8% |
| Legal reserve130 | €156k | €156k | €156k | €176k | €178k | ▲ 0.8% |
| Distributable reserves133 | €160k | €160k | €160k | €502k | €408k | ▼ 18.9% |
| Profit (loss) carried forward14 | €548k | €427k | €440k | €440k | €421k | ▼ 4.3% |
| Amounts payable17/49 | €990k | €1.02M | €1.07M | €1.09M | €1.19M | ▲ 9.7% |
| Amounts payable after more than one year17 | €950k | €950k | €950k | €950k | €950k | = |
| Financial debts170/4 | €950k | €950k | €950k | €950k | €950k | = |
| Amounts payable within one year42/48 | €32 | €27k | €74k | €84k | €190k | ▲ 126% |
| Trade debts44 | €32 | - | - | - | €45 | - |
| Suppliers440/4 | €32 | - | - | - | €45 | - |
| Taxes, remuneration and social security45 | - | - | - | €18k | €18k | = |
| Taxes450/3 | - | - | - | €18k | €18k | = |
| Other amounts payable47/48 | - | €27k | €74k | €66k | €172k | ▲ 161% |
| Accrued charges and deferred income492/3 | €40k | €48k | €50k | €53k | €54k | ▲ 0.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €69k | €-121k | €13k | €362k | €27k | ▼ 92.5% |
| + Depreciation and write-downs630 | €37k | €34k | €34k | €34k | €30k | ▼ 12.2% |
| Operating cash flow (approximation) | €106k | €-87k | €48k | €396k | €57k | ▼ 85.6% |
| Investment in fixed assets (approximation) | - | €4k | €-2k | €-3k | €-49k | ▼ 1,596% |
| Change in cash | - | €-2k | €-25k | €16k | €19k | ▲ 20.8% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €362k ▲2,584%
Net result €362k, the highest in the series.
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €13k
Net result €13k after one loss-making year.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €69k
Net result €69k after one loss-making year.
31-12
Financial
Liquidity times 866current ratio 54373.24
Current ratio from 62.82 to 54373.24; short-term debt falls from €26k to €32.
18-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 18 days late
2020
31-12
Financial
Liquidity times 12current ratio 62.82
Current ratio from 5.26 to 62.82; short-term debt falls from €218k to €26k.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
31-12
Financial
Back to profitnet €101k
Net result €101k after one loss-making year.
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
23-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 23 days late
2017
19-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Dilbeek · 1 establishment unit since 2000
Ground area
106 m²
Building footprint
106 m²
Volume, LiDAR
828 m³
Parcel 23074B0324/00E000, Flanders · tallest building 10.1 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Dorpsplein 1, 1700 Dilbeek
since 20002.100.735.037
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23074B0324/00E000 | Flanders | 106 m² | 1 · 106 m² | 10.1 m · 3 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.
Recognitions · licences · registrations
Legal Entity Identifier
967600RXGZYL1E1S3T60
Identification & contact
Identification
Legal formPublic limited company
Founded07-01-2000
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.