KARPAT
ActiveSummary
KARPAT has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.3m and a net result of €67,065. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 43% of 11508 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability38▲+7
Solvency58▲+2
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80,000 at 30 days acceptable
Liquidity ample (current ratio 2.71 against 3.86 in 2024; short-term debt: 6.2% and cash: 3.9% of total assets), but 67.5% of the assets are financed with debt.
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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
32.5%
Return on assets
1.7%
Age of the figures
12 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
1 d early
2022
2 d early
2021
2 d early
2020
on the day
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 30 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€1.3m▲ 5.5%
2024 · €1.2m
Total assets
€4.0m▲ 1.9%
2024 · €3.9m
Net result
€67,065
2024 · -€2,842
Working capital
€419,117▼ 10.1%
2024 · €466,337
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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
Line20212022202320242025
Operating result€140,665€145,172▲ 3.2%€163,789▲ 12.8%€142,605▼ 12.9%€244,204▲ 71.2%
Net result-€1,123below the sector's middle half▲ 99.0%€211within the sector's middle half€5,670within the sector's middle half▲ 2,583%-€2,842within the sector's middle half€67,065above the sector's middle half
Equity€1.2mabove the sector's middle half▼ 0.1%€1.2mabove the sector's middle half=€1.2mabove the sector's middle half▲ 0.5%€1.2mabove the sector's middle half▼ 0.2%€1.3mabove the sector's middle half▲ 5.5%
Total assets€4.0mabove the sector's middle half▲ 2.1%€4.1mabove the sector's middle half▲ 2.4%€4.2mabove the sector's middle half▲ 1.9%€3.9mabove the sector's middle half▼ 7.3%€4.0mabove the sector's middle half▲ 1.9%
Debt€585,354▲ 21.1%€542,429▼ 7.3%€634,279▲ 16.9%€348,712▼ 45.0%€376,312▲ 7.9%
Working capital€435,120within the sector's middle half▲ 3.1%€458,040above the sector's middle half▲ 5.3%€467,768above the sector's middle half▲ 2.1%€466,337above the sector's middle half▼ 0.3%€419,117above the sector's middle half▼ 10.1%
Solvency30.3%within the sector's middle half▼ 0.7pp29.6%within the sector's middle half▼ 0.7pp29.2%within the sector's middle half▼ 0.4pp31.4%within the sector's middle half▲ 2.2pp32.5%within the sector's middle half▲ 1.1pp
Current ratio2.12within the sector's middle half▼ 0.552.84within the sector's middle half▲ 0.722.19within the sector's middle half▼ 0.663.86above the sector's middle half▲ 1.672.71within the sector's middle half▼ 1.15
Return on assets (ROA)0.0%below the sector's middle half▲ 2.7pp0.0%within the sector's middle half=0.1%within the sector's middle half▲ 0.1pp-0.1%within the sector's middle half▼ 0.2pp1.7%within the sector's middle half▲ 1.8pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2021 Net result +99% on 2020. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 71% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.0m
Fixed assets
€3.3m ▲ 1.2%
Current assets
€664,782 ▲ 5.6%
Equity and liabilities €4.0m
Equity
€1.3m ▲ 5.5%
Provisions
€2.3m ▼ 0.9%
Debt
€376,312 ▲ 7.9%
Debt's share of the balance-sheet total rises from 8.9% to 9.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€316,589▲
2024 · €218,014
Cash flow
€139,451▲
2024 · €72,568
Debt to equity
0.29▲
2024 · 0.28
ROE
5.2%▲
2024 · -0.2%
Interest coverage
2.12▲
2024 · 1.43
Debt ≤ 1 year
€245,665▲
2024 · €163,046
Debt > 1 year
€130,647▼
2024 · €185,666
Income taxes
€29,308▲
2024 · €1,875
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 14,732 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €63,195 | €66,044 | €76,758 | €75,409 | €72,385 | ▼ 4.0% |
| Other operating charges640/8 | €10,504 | €49,492 | €29,850 | €22,827 | €14,387 | ▼ 37.0% |
| Non-recurring operating charges66A | €842 | €1,020 | €1,154 | €1,305 | €1,477 | ▲ 13.2% |
| Gross operating margin9900 | €215,206 | €261,729 | €271,551 | €242,146 | €332,452 | ▲ 37.3% |
| Operating profit (loss)9901 | €140,665 | €145,172 | €163,789 | €142,605 | €244,204 | ▲ 71.2% |
| Financial income75/76B | - | €0 | €10 | €6,883 | €10 | ▼ 99.9% |
| Recurring financial income75 | - | €0 | €10 | €6,883 | €10 | ▼ 99.9% |
| Financial charges65/66B | €141,842 | €143,903 | €154,132 | €152,205 | €149,592 | ▼ 1.7% |
| Recurring financial charges65 | €141,842 | €143,903 | €154,132 | €152,205 | €149,592 | ▼ 1.7% |
| Profit (loss) for the period before taxes9903 | -€1,177 | €1,269 | €9,668 | -€2,718 | €94,622 | ▲ 3,582% |
| Transfer from deferred taxes780 | €1,751 | €1,751 | €1,751 | €1,751 | €1,751 | = |
| Income taxes67/77 | €1,697 | €2,809 | €5,748 | €1,875 | €29,308 | ▲ 1,463% |
| Profit (loss) for the period9904 | -€1,123 | €211 | €5,670 | -€2,842 | €67,065 | ▲ 2,460% |
| Transfer from tax-exempt reserves789 | €3,399 | €3,399 | €3,399 | €3,399 | €3,399 | = |
| Profit (loss) for the period to be appropriated9905 | €2,276 | €3,610 | €9,069 | €557 | €70,464 | ▲ 12,547% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.0m | €4.1m | €4.2m | €3.9m | €4.0m | ▲ 1.9% |
| Fixed assets21/28 | €3.2m | €3.4m | €3.4m | €3.3m | €3.3m | ▲ 1.2% |
| Tangible fixed assets22/27 | €3.2m | €3.4m | €3.4m | €3.3m | €3.3m | ▲ 1.2% |
| Land and buildings22 | €3.2m | €3.4m | €3.4m | €3.3m | €3.3m | ▲ 1.2% |
| Furniture and vehicles24 | €1,031 | €714 | €397 | €79 | - | - |
| Financial fixed assets28 | - | - | €300 | €300 | €300 | = |
| Current assets29/58 | €822,096 | €706,784 | €862,046 | €629,383 | €664,782 | ▲ 5.6% |
| Amounts receivable within one year40/41 | €715,561 | €253,040 | €582,479 | €222,476 | €442,490 | ▲ 98.9% |
| Trade receivables40 | €715,561 | €250,721 | €349,758 | €208,989 | €185,484 | ▼ 11.2% |
| Other amounts receivable41 | - | €2,319 | €232,720 | €13,487 | €257,006 | ▲ 1,806% |
| Cash at bank and in hand54/58 | €104,611 | €323,317 | €277,130 | €406,418 | €154,750 | ▼ 61.9% |
| Deferred charges and accrued income490/1 | €1,924 | €130,426 | €2,437 | €489 | €67,541 | ▲ 13,714% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.0m | €4.1m | €4.2m | €3.9m | €4.0m | ▲ 1.9% |
| Equity10/15 | €1.2m | €1.2m | €1.2m | €1.2m | €1.3m | ▲ 5.5% |
| Contributions10/11 | €173,904 | €173,904 | €173,904 | €173,904 | €173,904 | = |
| Capital10 | €173,904 | €173,904 | €173,904 | €173,904 | €173,904 | = |
| Issued capital100 | €173,904 | €173,904 | €173,904 | €173,904 | €173,904 | = |
| Reserves13 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | ▲ 6.4% |
| Non-distributable reserves130/1 | €57,907 | €57,907 | €57,907 | €57,907 | €57,907 | = |
| Legal reserve130 | €57,907 | €57,907 | €57,907 | €57,907 | €57,907 | = |
| Tax-exempt reserves132 | €79,846 | €76,447 | €73,048 | €69,650 | €66,251 | ▼ 4.9% |
| Distributable reserves133 | €912,324 | €915,935 | €925,004 | €925,561 | €996,025 | ▲ 7.6% |
| Provisions and deferred taxes16 | €2.2m | €2.4m | €2.4m | €2.3m | €2.3m | ▼ 0.9% |
| Provisions for liabilities and charges160/5 | €2.2m | €2.3m | €2.3m | €2.3m | €2.3m | ▼ 0.8% |
| Other liabilities and charges164/5 | €2.2m | €2.3m | €2.3m | €2.3m | €2.3m | ▼ 0.8% |
| Deferred taxes168 | €41,113 | €39,362 | €37,611 | €35,860 | €34,109 | ▼ 4.9% |
| Amounts payable17/49 | €585,354 | €542,429 | €634,279 | €348,712 | €376,312 | ▲ 7.9% |
| Amounts payable after more than one year17 | €198,379 | €293,686 | €240,001 | €185,666 | €130,647 | ▼ 29.6% |
| Financial debts170/4 | €198,379 | €293,686 | €240,001 | €185,666 | €130,647 | ▼ 29.6% |
| Amounts payable within one year42/48 | €386,976 | €248,743 | €394,278 | €163,046 | €245,665 | ▲ 50.7% |
| Current portion of amounts payable after more than one year42 | €32,883 | €53,047 | €52,574 | €54,335 | €55,019 | ▲ 1.3% |
| Trade debts44 | €305 | €5,048 | €7,057 | €1,074 | €710 | ▼ 33.9% |
| Suppliers440/4 | €305 | €5,048 | €7,057 | €1,074 | €710 | ▼ 33.9% |
| Taxes, remuneration and social security45 | €16,968 | €9,267 | €50,878 | €15,879 | €70,714 | ▲ 345% |
| Taxes450/3 | €16,968 | €9,267 | €50,878 | €15,879 | €70,714 | ▲ 345% |
| Other amounts payable47/48 | €336,819 | €181,381 | €283,770 | €91,758 | €119,222 | ▲ 29.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,123 | €211 | €5,670 | -€2,842 | €67,065 | ▲ 2,460% |
| + Depreciation and write-downs630 | €63,195 | €66,044 | €76,758 | €75,409 | €72,385 | ▼ 4.0% |
| Operating cash flow (approximation) | €62,072 | €66,256 | €82,428 | €72,568 | €139,451 | ▲ 92.2% |
| Investment in fixed assets (approximation) | - | -€278,444 | -€300 | €0 | -€111,000 | - |
| Change in cash | - | €218,706 | -€46,187 | €129,288 | -€251,668 | ▼ 295% |
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
01-06
State Gazette act
Appointment: Wuyts Katleen (director)2 facts ▸
State Gazette act
Appointment: Wuyts Katleen (director)
2 facts ▸
- General meeting, 27-03-2026
- Director appointment, Wuyts Katleen (director)
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Back to profitnet €67,065
Net result €67,065 after one loss-making year.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Back to profitnet €211
Net result €211 after 2 loss-making years.
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Weakest financial yearnet -€107,169
Net result drops to -€107,169, the lowest in the series; recovery starts the following year.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Wuyts Katleen
CurrentDirector · since 01-04-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Kapellen · 1 establishment unit since 2004
Ground area
2,144 m²
Building footprint
609 m²
Volume, LiDAR
10,372 m³
2 parcels, Flanders · tallest building 28.4 m, ±8 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
-
since 20042.139.548.202
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11902E0332/00P003 | Flanders | 1,672 m² | 1 · 226 m² | 8.0 m · 2 fl. |
| 11804D2165/00D021 | Flanders | 471 m² | 1 · 383 m² | 28.4 m · 8 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.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Wuyts Katleen |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 4,675 EUR awarded · 3,506 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 0 EUR | 3,506 EUR |
| 2022 | 1 | 4,675 EUR | 0 EUR |
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Of 4,414 companies in sector 46180 we hold annual accounts for 1,892. 827 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded23-07-2004
Fiscal year end30-09
Activities, NACEBEL 2025
46180Agents specialised in the wholesale of other particular products
68203Renting and operating of own or leased non-residential real estate, excluding land
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0866508522
Registered
07-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.