MAKE CARBON WORK
ActiveSummary
MAKE CARBON WORK has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €19k and a net result of €-12k. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 47% of 11615 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
56
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0▼-72
Solvency76▼-16
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity ample (current ratio 1.9 against 2.74 in 2023; short-term debt: 48.7% and cash: 28.1% of total assets), and 48.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Sector 71
lower
← fewer bankruptcies
more bankruptcies →
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
51.3%
Return on assets
-31.6%
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 · 9 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
365 d late
2022
92 d late
2021
61 d late
2020
30 d late
2019
70 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€19k▼ 38.1%
2023 · €31k
2018: €10k
2019: €10k
2020: €21k
2021: €27k
2022: €30k
2023: €31k
2018 → 2024
Total assets
€37k▼ 19.5%
2023 · €46k
2018: €27k
2019: €39k
2020: €39k
2021: €49k
2022: €43k
2023: €46k
2018 → 2024
Net result
€-12k
2023 · €1k
2018: €490
2019: €31
2020: €11k
2021: €7k
2022: €2k
2023: €1k
2018 → 2024
Working capital
€16k▼ 39.0%
2023 · €27k
2018: €7k
2019: €-2k
2020: €13k
2021: €19k
2022: €25k
2023: €27k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€21k-€27k▲ 31.5%€30k▲ 8.9%€31k▲ 3.6%€19k▼ 38.1%
Operating result€16k-€11k▼ 32.0%€5k▼ 51.5%€3k▼ 37.6%€-11k
Net result€11k-€7k▼ 38.1%€2k▼ 63.0%€1k▼ 55.8%€-12k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €11k after €3k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €37k
Fixed assets
€3k ▼ 32.2%
Current assets
€34k ▼ 18.2%
Equity and liabilities €37k
Equity
€19k ▼ 38.1%
Debt
€18k ▲ 18.1%
Debt's share of the balance-sheet total rises from 33.2% to 48.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-10k▼
2023 · €7k
Cash flow
€-10k▼
2023 · €5k
Current ratio
1.90▼
2023 · 2.74
Quick ratio
1.69▼
2023 · 2.50
Debt to equity
0.95▲
2023 · 0.50
ROE
-61.6%▼
2023 · 3.5%
ROA
-31.6%▼
2023 · 2.3%
Interest coverage
-34.22▼
2023 · 12.96
Debt ≤ 1 year
€18k▲
2023 · €15k
Income taxes
€140▼
2023 · €2k
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 · 2024 against 2023 · 43 lines
Balance sheet
Code20232024
Assets
Total assets20/58€46k€37k▼
Fixed assets21/28€4k€3k▼
Tangible fixed assets22/27€4k€3k▼
Furniture and vehicles24€988-
Other tangible fixed assets26€3k€3k▼
Current assets29/58€42k€34k▼
Stocks and contracts in progress3€4k€4k=
Stocks30/36€4k€4k=
Amounts receivable within one year40/41€22k€19k▼
Trade receivables40€16k€16k▼
Other amounts receivable41€6k€3k▼
Cash at bank and in hand54/58€14k€10k▼
Deferred charges and accrued income490/1€2k€858▼
Equity and liabilities
Total equity and liabilities10/49€46k€37k▼
Equity10/15€31k€19k▼
Contributions10/11€19k€19k=
Reserves13€9k€9k=
Distributable reserves133€9k€9k=
Profit (loss) carried forward14€3k€-9k▼
Amounts payable17/49€15k€18k▲
Amounts payable within one year42/48€15k€18k▲
Trade debts44€2k€3k▲
Suppliers440/4€2k€3k▲
Taxes, remuneration and social security45€13k€11k▼
Taxes450/3€13k€11k▼
Other amounts payable47/48€56€4k▲
Income statement
Code20232024
Non-recurring operating income76A-€8k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€1k▼
Other operating charges640/8€2k€2k▲
Gross operating margin9900€9k€-8k▼
Operating profit (loss)9901€3k€-11k▼
Financial income75/76B-€50
Recurring financial income75-€50
Financial charges65/66B€551€292▼
Recurring financial charges65€551€292▼
Profit (loss) for the period before taxes9903€3k€-12k▼
Income taxes67/77€2k€140▼
Profit (loss) for the period9904€1k€-12k▼
Profit (loss) for the period to be appropriated9905€1k€-12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€4k€-9k▼
Profit (loss) brought forward from the previous period14P€3k€3k▲
Transfer to equity691/2€1k-
To other reserves6921€1k-
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 365 days late
2024
31-12
Financial
Weakest financial yearnet €-12k ▼1197%
Net result drops to €-12k, the lowest in the series.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 92 days late
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Highest result since 2018net €11k ▲33852%
Operating result €16k, net result €11k, both a record.
09-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 70 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
09-01
State Gazette act
General meeting · Net-asset statement
Capital increase · Legal-form conversion
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Waasmunster · 1 establishment unit since 2016
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.
Lentelaan 69250 WaasmunsterGround area
1,869 m²
Building footprint
265 m²
Volume, LiDAR
1,569 m³
2 parcels, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Ommegangsdreef 54, 9250 Waasmunster
since 20162.249.024.281
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42023B0836/00L000 | Flanders | 1,515 m² | 1 · 184 m² | 9.1 m · 2 fl. |
| 42023B0846/00T000 | Flanders | 354 m² | 1 · 82 m² | 9.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
1 connected companyLinked via shared directors
Shared director
→
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Of 11,550 companies in sector 71121 we hold annual accounts for 6,563. 3,916 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
Founded08-01-2016
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.