KARNAK
ActiveSummary
KARNAK has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €36,458 and a net result of €6,400. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 92% of 18930 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability87▲+11
Solvency100▲+2
Growth52=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity ample (current ratio 4.53 against 3.01 in 2023; short-term debt: 18.3% and cash: 33.9% of total assets), and 18.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
81.7%
Return on assets
14.3%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
148 d late
2022
150 d late
2021
153 d late
2020
153 d late
2019
122 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 131 days after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€36,458▲ 21.3%
2023 · €30,057
Total assets
€44,644▲ 9.0%
2023 · €40,957
Net result
€6,400▲ 177%
2023 · €2,312
Working capital
€28,858▲ 31.7%
2023 · €21,914
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€20,607-€2,259€946€2,896▲ 206%€8,340▲ 188%
Net result€21,091-€3,921-€1,409▲ 64.1%€2,312€6,400▲ 177%
Equity€33,075▲ 176%€29,154▼ 11.9%€27,745▼ 4.8%€30,057▲ 8.3%€36,458▲ 21.3%
Total assets€37,674▲ 90.7%€34,209▼ 9.2%€30,027▼ 12.2%€40,957▲ 36.4%€44,644▲ 9.0%
Debt€4,599▼ 40.8%€5,055▲ 9.9%€2,282▼ 54.9%€10,899▲ 378%€8,187▼ 24.9%
Working capital€27,172▲ 261%€20,311▼ 25.3%€19,057▼ 6.2%€21,914▲ 15.0%€28,858▲ 31.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 188% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €44,644
Fixed assets
€7,599 ▼ 6.7%
Current assets
€37,045 ▲ 12.9%
Equity and liabilities €44,644
Equity
€36,458 ▲ 21.3%
Debt
€8,187 ▼ 24.9%
Debt's share of the balance-sheet total falls from 26.6% to 18.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€8,884▲
2023 · €3,440
Cash flow
€6,945▲
2023 · €2,857
Current ratio
4.53▲
2023 · 3.01
Quick ratio
4.33▲
2023 · 2.85
Debt to equity
0.22▼
2023 · 0.36
ROE
17.6%▲
2023 · 7.7%
ROA
14.3%▲
2023 · 5.6%
Interest coverage
57.17▲
2023 · 27.21
Debt ≤ 1 year
€8,187▼
2023 · €10,899
Income taxes
€1,784▲
2023 · €457
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 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 31,324 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 | €42 | €359 | €485 | €544 | €544 | = |
| Other operating charges640/8 | - | €3,111 | €4,416 | €1,523 | €1,114 | ▼ 26.9% |
| Gross operating margin9900 | €21,360 | €1,211 | €5,848 | €4,963 | €9,997 | ▲ 101% |
| Operating profit (loss)9901 | €20,607 | -€2,259 | €946 | €2,896 | €8,340 | ▲ 188% |
| Financial income75/76B | - | €1 | €1 | - | €0 | - |
| Recurring financial income75 | €1,608 | €1 | €1 | - | €0 | - |
| Financial charges65/66B | - | €216 | €502 | €126 | €155 | ▲ 22.9% |
| Recurring financial charges65 | €144 | €216 | €502 | €126 | €155 | ▲ 22.9% |
| Profit (loss) for the period before taxes9903 | €22,071 | -€2,475 | €445 | €2,770 | €8,185 | ▲ 196% |
| Income taxes67/77 | €979 | €1,446 | €1,853 | €457 | €1,784 | ▲ 290% |
| Profit (loss) for the period9904 | €21,091 | -€3,921 | -€1,409 | €2,312 | €6,400 | ▲ 177% |
| Profit (loss) for the period to be appropriated9905 | €21,091 | -€3,921 | -€1,409 | €2,312 | €6,400 | ▲ 177% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €37,674 | €34,209 | €30,027 | €40,957 | €44,644 | ▲ 9.0% |
| Fixed assets21/28 | €5,903 | €8,843 | €8,688 | €8,144 | €7,599 | ▼ 6.7% |
| Tangible fixed assets22/27 | €1,441 | €4,381 | €4,226 | €3,682 | €3,137 | ▼ 14.8% |
| Plant, machinery and equipment23 | - | €1,292 | €1,467 | €1,253 | €1,039 | ▼ 17.1% |
| Furniture and vehicles24 | - | €3,088 | €2,759 | €2,429 | €2,099 | ▼ 13.6% |
| Financial fixed assets28 | €4,462 | €4,462 | €4,462 | €4,462 | €4,462 | = |
| Current assets29/58 | €31,771 | €25,366 | €21,339 | €32,813 | €37,045 | ▲ 12.9% |
| Stocks and contracts in progress3 | €692 | €1,429 | €1,797 | €1,759 | €1,588 | ▼ 9.7% |
| Stocks30/36 | - | €1,429 | €1,797 | €1,759 | €1,588 | ▼ 9.7% |
| Amounts receivable within one year40/41 | €22,700 | €17,807 | €17,526 | €17,746 | €20,302 | ▲ 14.4% |
| Trade receivables40 | - | - | - | €45 | €68 | ▲ 51.8% |
| Other amounts receivable41 | - | €17,807 | €17,526 | €17,701 | €20,234 | ▲ 14.3% |
| Cash at bank and in hand54/58 | €8,379 | €6,130 | €1,428 | €12,700 | €15,155 | ▲ 19.3% |
| Deferred charges and accrued income490/1 | - | - | €588 | €608 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €37,674 | €34,209 | €30,027 | €40,957 | €44,644 | ▲ 9.0% |
| Equity10/15 | €33,075 | €29,154 | €27,745 | €30,057 | €36,458 | ▲ 21.3% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Profit (loss) carried forward14 | €14,483 | €10,562 | €9,153 | €11,465 | €17,866 | ▲ 55.8% |
| Amounts payable17/49 | €4,599 | €5,055 | €2,282 | €10,899 | €8,187 | ▼ 24.9% |
| Amounts payable within one year42/48 | €4,599 | €5,055 | €2,282 | €10,899 | €8,187 | ▼ 24.9% |
| Trade debts44 | €3,564 | €4,019 | €2,225 | €10,236 | €5,113 | ▼ 50.1% |
| Suppliers440/4 | - | €4,019 | €2,225 | €10,236 | €5,113 | ▼ 50.1% |
| Taxes, remuneration and social security45 | - | €1,036 | €57 | €663 | €3,074 | ▲ 363% |
| Taxes450/3 | - | €1,036 | €57 | €663 | €3,074 | ▲ 363% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,091 | -€3,921 | -€1,409 | €2,312 | €6,400 | ▲ 177% |
| + Depreciation and write-downs630 | €42 | €359 | €485 | €544 | €544 | = |
| Operating cash flow (approximation) | €21,134 | -€3,562 | -€924 | €2,857 | €6,945 | ▲ 143% |
| Investment in fixed assets (approximation) | - | -€3,299 | -€331 | €0 | €0 | - |
| Change in cash | - | -€2,249 | -€4,702 | €11,272 | €2,455 | ▼ 78.2% |
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
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
26-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 148 days late
2023
31-12
Financial
Back to profitnet €2,312
Net result €2,312 after 2 loss-making years.
28-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 150 days late
2022
31-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 153 days late
2021
31-12
Financial
Weakest financial yearnet -€3,921
Net result drops to -€3,921, the lowest in the series; recovery starts the following year.
31-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 153 days late
2020
31-12
Financial
Back to profitnet €21,091
Net result €21,091 after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 6.91
Current ratio from 1.97 to 6.91; short-term debt falls from €7,774 to €4,599.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
31-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 153 days late
2018
20-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 142 days late
2017
17-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 109 days late
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Oudenaarde · 1 establishment unit since 1996
Ground area
885 m²
Building footprint
240 m²
Volume, LiDAR
1,771 m³
Parcel 45035B0501/00L000, Flanders · tallest building 11.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Markt 17 C, 9700 Oudenaarde
since 19962.078.064.454
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45035B0501/00L000 | Flanders | 885 m² | 1 · 240 m² | 11.6 m · 2 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Recognitions · licences · registrations
Food safety, FASFC
1 siteOudenaarde2.078.064.454
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Of 21,859 companies in sector 56112 we hold annual accounts for 9,779. 8,447 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 (pre-2019)
Founded08-07-1996
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0458396561
Also
9925:BE0458396561
Registered
09-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.