Checked.be
Active
BE 0668.917.641Private limited company
Karma Consult
Blankenbergse Steenweg 23 ·8000 Brugge, Belgium· 9 yrs active
Sector: Business and other management consultancy
(70200)
Conclusion
Karma Consult has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €160k and a net result of €157k. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 25% of 31061 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 6 annual accounts.
Key figures
| Equity | €160k |
| Net result | €157k |
| Better than sector | 25% |
| Active | 9 yrs |
Financial profile
69
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
45
Profitability
100
Solvency
24
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2017, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
45
/ 100
Fair
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€7k
estimate, not credit advice
Score history
78
2020
50
2021
100
2022
83
2023
100
2024
45
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.62 (< 1.0)
-10
Leverage
Debt/equity 3.39 (> 3.0)
-10
Profitability
ROE 98% (≥ 10%)
+10
Interest coverage
Interest coverage 16.7× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 27-08-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~4.7%/year over 6 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 70, Activities of head offices; management consultancy activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 22.8% | 55.9% | |
| Net result | €157k | €27k | |
| Equity | €160k | €83k | |
| Gross operating margin | €235k | €53k | |
| Total assets | €704k | €186k |
€228k
+23.0%
20-25
€157k
-4.4%
20-25
€216k
+20.4%
20-25
€704k
+93.8%
20-25
€160k
-26.2%
20-25
€-62k
-
20-25
€215
-95.5%
20-25
€214k
+64.6%
20-25
€544k
+272.3%
20-25
€164k
+270.6%
20-25
€376k
+272.7%
20-25
0.62
-79.7%
20-25
0.62
-79.7%
20-25
22.8%
-61.9%
20-25
3.39
+404.7%
20-25
98.0%
+29.6%
20-25
22.3%
-50.7%
20-25
16.75
-39.5%
20-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €228k | €186k | €130k | €169k | €142k |
| Net profit | €157k | €164k | €114k | €145k | €128k |
| Cash flow | €216k | €179k | €125k | €155k | €132k |
| Staff costs | - | - | - | - | - |
| Income taxes | €215 | €5k | €4k | €11k | €8k |
| Dividends | €214k | €130k | €200k | - | €187k |
| Total assets | €704k | €363k | €378k | €454k | €334k |
| Equity | €160k | €217k | €183k | €232k | €100k |
| Debt | €544k | €146k | €195k | €222k | €234k |
| of which ≤ 1y | €164k | €44k | €57k | €54k | €72k |
| of which > 1y | €376k | €101k | €135k | €168k | €162k |
| Working capital | €-62k | €91k | €97k | €162k | €-44k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.62 | 3.06 | 2.70 | 4.01 | 0.38 |
| Quick ratio | 0.62 | 3.06 | 2.70 | 4.01 | 0.38 |
| Working capital ratio | -8.8% | 25.0% | 25.8% | 35.7% | -13.2% |
| Solvency | 22.8% | 59.8% | 48.4% | 51.1% | 30.0% |
| Debt / equity | 3.39 | 0.67 | 1.07 | 0.96 | 2.33 |
| Long-term debt ratio | 2.35 | 0.46 | 0.74 | 0.72 | 1.62 |
| Interest coverage | 16.75 | 27.70 | 26.79 | 47.31 | 45.21 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 22.3% | 45.2% | 30.2% | 31.9% | 38.3% |
| ROE | 98.0% | 75.6% | 62.4% | 62.4% | 127.7% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €704k | €363k | €378k | €454k | €334k |
| Fixed assets | 21/28 | €603k | €228k | €223k | €238k | €307k |
| Tangible fixed assets | 22/27 | €418k | €43k | €38k | €58k | €127k |
| Financial fixed assets | 28 | €185k | €185k | €185k | €180k | €180k |
| Current assets | 29/58 | €101k | €135k | €155k | €216k | €28k |
| Amounts receivable within one year | 40/41 | €56k | €87k | €54k | €16k | €15k |
| Cash & bank | 54/58 | €38k | €47k | €33k | €62k | €11k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €704k | €363k | €378k | €454k | €334k |
| Equity | 10/15 | €160k | €217k | €183k | €232k | €100k |
| Contributions / capital | 10/11 | €62k | €62k | €62k | €12k | €12k |
| Reserves | 13 | €375 | €375 | €375 | €375 | €375 |
| Accumulated profits (losses) | 14 | €98k | €155k | €121k | €219k | €88k |
| Amounts payable | 17/49 | €544k | €146k | €195k | €222k | €234k |
| Amounts payable after one year | 17 | €376k | €101k | €135k | €168k | €162k |
| Amounts payable within one year | 42/48 | €164k | €44k | €57k | €54k | €72k |
| Trade debts payable within one year | 44 | €575 | €42 | - | €1 | €604 |
| Income statement | ||||||
| Gross operating margin | 9900 | €235k | €191k | €133k | €173k | €147k |
| Operating result | 9901 | €170k | €171k | €119k | €158k | €139k |
| Financial income | 75 | €1k | €5k | €4k | €1k | €1 |
| Financial charges | 65 | €14k | €7k | €5k | €4k | €3k |
| Result before taxes | 9903 | €157k | €169k | €118k | €156k | €136k |
| Income taxes | 67/77 | €215 | €5k | €4k | €11k | €8k |
| Net result for the period | 9904 | €157k | €164k | €114k | €145k | €128k |
| Result to be appropriated | 9905 | €157k | €164k | €114k | €145k | €128k |
Legal Structure
| NACE primary | Business and other management consultancy(70200) |
| Legal form | Private limited company(610) |
| Incorporation | 10-01-2017 |
| Status | Active |
| Postal code | 8000 |
Establishment units
Karma Consult
since 20172.260.228.573
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31808M0438/00A015 | Flanders | 239 m² | 1 · 177 m² | 12.2 m · 1 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
31-12
Financial
Highest result since 2020net €164k ▲43.7%
Operating result €171k, net result €164k, both a record.
31-12
Financial
Equity above €200kEq €217k ▲18.7%
5 profitable years in a row build equity to €217k.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Weakest financial yearnet €114k ▼21.1%
Net result drops to €114k, the lowest in the series; recovery starts the following year.
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-12
Financial
Liquidity times 10current ratio 4.01
Current ratio from 0.38 to 4.01; short-term debt falls from €72k to €54k.
31-12
Financial
Equity above €200kEq €232k ▲131%
3 profitable years in a row build equity to €232k.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
16-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 108 days late
2020
10-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 41 days late
2019
08-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 8 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Business and other management consultancy70200Business consulting70220
Names & trade names
| Legal nameNL | Karma Consult |
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