KARSMAKERS
ActiveSummary
The computed 12-month bankruptcy probability of KARSMAKERS is 2.1% (moderate). The 2025 annual accounts show equity of €321k and a net result of €57k. Equity is growing by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 77% of 13305 sector peers (fiscal year 2025). The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
76
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability83▲+2
Solvency88▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €24k at 30 days acceptable
Liquidity ample (current ratio 2.15 against 1.77 in 2024; short-term debt: 30% and cash: 62.9% of total assets), and 37.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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
Sector 56
higher
← 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
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
62.7%
Return on assets
11.1%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 01-07-2025 was due by 01-02-2026 and was filed on 02-03-2026, 29 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
29 d late
2024
27 d late
2023
27 d late
2022
5 d early
2021
14 d late
2020
23 d late
2019
2 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 01-07-2026 and is due by 01-02-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
01-07-2026 close24-09-2026 today01-02-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€321k▲ 21.5%
2024 · €265k
2019: €200k
2020: €201k
2021: €158k
2022: €150k
2023: €220k
2024: €265k
2019 → 2025
Total assets
€513k▲ 9.8%
2024 · €467k
2019: €575k
2020: €513k
2021: €417k
2022: €396k
2023: €502k
2024: €467k
2019 → 2025
Net result
€57k▲ 27.1%
2024 · €45k
2019: €-2k
2020: €227
2021: €-43k
2022: €-8k
2023: €70k
2024: €45k
2019 → 2025
Working capital
€177k▲ 63.2%
2024 · €109k
2019: €64k
2020: €75k
2021: €52k
2022: €71k
2023: €51k
2024: €109k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€158k-€150k▼ 5.0%€220k▲ 46.6%€265k▲ 20.3%€321k▲ 21.5%
Operating result€-35k-€-2k▲ 93.9%€94k€66k▼ 29.6%€80k▲ 20.7%
Net result€-43k-€-8k▲ 81.3%€70k€45k▼ 36.1%€57k▲ 27.1%
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 recovers in 2025; 2025 is 21% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €513k
Fixed assets
€182k ▼ 16.4%
Current assets
€331k ▲ 32.7%
Equity and liabilities €513k
Equity
€321k ▲ 21.5%
Debt
€191k ▼ 5.4%
Debt's share of the balance-sheet total falls from 43.3% to 37.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€120k▲
2024 · €107k
Cash flow
€97k▲
2024 · €85k
Current ratio
2.15▲
2024 · 1.77
Debt to equity
0.60▼
2024 · 0.76
ROE
17.7%▲
2024 · 16.9%
ROA
11.1%▲
2024 · 9.6%
Interest coverage
34.84▲
2024 · 22.97
Debt ≤ 1 year
€154k▲
2024 · €141k
Debt > 1 year
€35k▼
2024 · €58k
Income taxes
€24k▲
2024 · €19k
Staff costs
€158k▲
2024 · €155k
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 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€467k€513k▲
Fixed assets21/28€218k€182k▼
Tangible fixed assets22/27€218k€182k▼
Land and buildings22€138k€121k▼
Plant, machinery and equipment23€20k€18k▼
Furniture and vehicles24€59k€43k▼
Current assets29/58€249k€331k▲
Amounts receivable within one year40/41€4k€4k▲
Trade receivables40€601€4k▲
Other amounts receivable41€3k-
Cash at bank and in hand54/58€242k€323k▲
Deferred charges and accrued income490/1€3k€4k▲
Equity and liabilities
Total equity and liabilities10/49€467k€513k▲
Equity10/15€265k€321k▲
Contributions10/11€19k€19k=
Reserves13€245k€301k▲
Distributable reserves133€245k€301k▲
Profit (loss) carried forward14€676€1k▲
Amounts payable17/49€202k€191k▼
Amounts payable after more than one year17€58k€35k▼
Financial debts170/4€58k€35k▼
Amounts payable within one year42/48€141k€154k▲
Current portion of amounts payable after more than one year42€23k€23k=
Trade debts44€2k€14k▲
Suppliers440/4€2k€14k▲
Taxes, remuneration and social security45€34k€45k▲
Taxes450/3€25k€38k▲
Remuneration and social security454/9€8k€7k▼
Other amounts payable47/48€82k€71k▼
Accrued charges and deferred income492/3€3k€3k▼
Income statement
Code20242025
Remuneration, social security and pensions62€155k€158k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€41k€40k▼
Other operating charges640/8€7k€7k▲
Gross operating margin9900€269k€285k▲
Operating profit (loss)9901€66k€80k▲
Financial income75/76B€2k€4k▲
Recurring financial income75€2k€4k▲
Financial charges65/66B€5k€3k▼
Recurring financial charges65€5k€3k▼
Profit (loss) for the period before taxes9903€64k€81k▲
Income taxes67/77€19k€24k▲
Profit (loss) for the period9904€45k€57k▲
Profit (loss) for the period to be appropriated9905€45k€57k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-11k€57k▲
Profit (loss) brought forward from the previous period14P€-55k€676▲
Transfer from equity791/2€55k-
Transfer to equity691/2€44k€56k▲
To other reserves6921€44k€56k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
28-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
28-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
01-07
Financial
Back to profitnet €70k
Net result €70k after 2 loss-making years.
01-07
Financial
Equity above €200kEq €220k ▲46.6%
Equity rises from €150k to €220k.
27-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 14 days late
2021
01-07
Financial
Weakest financial yearnet €-43k ▼18877%
Net result drops to €-43k, the lowest in the series; recovery starts the following year.
24-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
2020
01-07
Financial
Back to profitnet €227
Net result €227 after one loss-making year.
30-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
23-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
16-01
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.
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, Elsene · 1 establishment unit since 2006
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Trierstraat 201050 ElseneGround area
201 m²
Building footprint
124 m²
Volume, LiDAR
1,307 m³
Parcel 21442A0007/00S011, Brussels · tallest building 17.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Brussels Bagels
since 20062.159.034.908
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21442A0007/00S011 | Brussels | 201 m² | 1 · 124 m² | 17.0 m · 4 fl. |
Linked by address, not proof of ownership
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteElsene2.159.034.908
Similar companies · same sector, comparable size
DE FRIETMAN
BE 0716.860.088
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BELLA PIZZA
BE 0738.886.216
Mouscron · Eq €321,693
VILLEROY - DUMONT
BE 0432.762.728
Namur · Eq €321,813
PASTASCIUTTA
BE 0870.041.401
Kortrijk · Eq €321,902
G & X
BE 0829.058.010
Malle · Eq €320,990
Of 21,888 companies in sector 56112 we hold annual accounts for 9,780. 5,575 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-12-2006
Fiscal year end01-07
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
46170Agents in the wholesale of food, beverages and tobacco
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:info@karsmakers.be