CARMAL
ActiveCARMAL has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €448k and a net result of €-12k. Equity is shrinking by ~3.9% per year across the filed fiscal years. Its solvency ranks better than 73% of 31642 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
78
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability16▼-1
Solvency100=
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 4.39 against 9.93 in 2024; short-term debt: 22.5% and cash: 44.8% of total assets), and 22.5% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← 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
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 20-02-2026, 69 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
69 d early
2024
20 d early
2023
34 d early
2022
44 d early
2021
37 d early
2020
43 d early
2019
49 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
21-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€448k▼ 16.5%
2024 · €536k
2018: €608k
2019: €645k
2020: €693k
2021: €721k
2022: €713k
2023: €580k
2024: €536k
2018 → 2025
Total assets
€578k▼ 2.9%
2024 · €595k
2018: €625k
2019: €663k
2020: €708k
2021: €746k
2022: €722k
2023: €604k
2024: €595k
2018 → 2025
Net result
€-12k▼ 75.6%
2024 · €-7k
2018: €-10k
2019: €37k
2020: €48k
2021: €28k
2022: €-8k
2023: €-8k
2024: €-7k
2018 → 2025
Working capital
€441k▼ 16.5%
2024 · €528k
2018: €608k
2019: €645k
2020: €690k
2021: €713k
2022: €702k
2023: €569k
2024: €528k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€721k-€713k▼ 1.1%€580k▼ 18.7%€536k▼ 7.5%€448k▼ 16.5%
Operating result€41k-€-10k€-11k▼ 10.6%€-9k▲ 21.0%€-21k▼ 143%
Net result€28k-€-8k€-8k▼ 10.0%€-7k▲ 16.1%€-12k▼ 75.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €21k in 2025 against €9k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €578k
Fixed assets
€7k▼ 14.0%
Current assets
€571k▼ 2.7%
Equity and liabilities €578k
Equity
€448k▼ 16.5%
Debt
€130k▲ 120%
The debt ratio rises from 9.9% to 22.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-20k▼
2024 · €-6k
Cash flow
€-11k▼
2024 · €-5k
Solvency
77.5%▼
2024 · 90.1%
Current ratio
4.39▼
2024 · 9.93
Quick ratio
4.39▼
2024 · 9.93
Debt / equity
0.29▲
2024 · 0.11
ROE
-2.8%▼
2024 · -1.3%
ROA
-2.1%▼
2024 · -1.2%
Interest coverage
-16.38▼
2024 · -5.75
Debt
€130k▲
2024 · €59k
Debt ≤ 1 year
€130k▲
2024 · €59k
Income taxes
€233▲
2024 · €140
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€595k€578k▼
Fixed assets21/28€9k€7k▼
Tangible fixed assets22/27€2k€1k▼
Plant, machinery and equipment23€749€0▼
Furniture and vehicles24€2k€1k▼
Financial fixed assets28€6k€6k=
Current assets29/58€587k€571k▼
Amounts receivable within one year40/41€253€3k▲
Trade receivables40€0-
Other amounts receivable41€253€3k▲
Current investments50/53€269k€309k▲
Cash at bank and in hand54/58€317k€259k▼
Equity and liabilities
Total equity and liabilities10/49€595k€578k▼
Equity10/15€536k€448k▼
Contributions10/11€19k€19k=
Reserves13€518k€429k▼
Distributable reserves133€518k€429k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€59k€130k▲
Amounts payable within one year42/48€59k€130k▲
Trade debts44€99€50▼
Suppliers440/4€99€50▼
Taxes, remuneration and social security45€880€360▼
Taxes450/3€880€360▼
Other amounts payable47/48€58k€130k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€1k▼
Other operating charges640/8€2k€2k▲
Gross operating margin9900€-5k€-18k▼
Operating profit (loss)9901€-9k€-21k▼
Financial income75/76B€3k€10k▲
Recurring financial income75€3k€10k▲
Financial charges65/66B€1k€1k▲
Recurring financial charges65€1k€1k▲
Profit (loss) for the period before taxes9903€-7k€-12k▼
Income taxes67/77€140€233▲
Profit (loss) for the period9904€-7k€-12k▼
Profit (loss) for the period to be appropriated9905€-7k€-12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-7k€-12k▼
Transfer from equity791/2€44k€88k▲
Profit to be distributed694/7€37k€76k▲
Return on contributions (dividend)694€37k€76k▲
The notes to these accounts (9 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
20-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €-12k
Net result drops to €-12k, the lowest in the series.
10-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
17-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Liquidity triplescurrent ratio 82.06
Current ratio from 28.71 to 82.06; short-term debt falls from €26k to €9k.
24-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
18-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Highest result since 2018net €48k ▲31.5%
Operating result €58k, net result €48k, both a record.
12-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Back to profitnet €37k
Net result €37k after one loss-making year.
26-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
19-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2009
08-06
State Gazette act
General meeting · Director reappointment
Permanent representative · Board meeting
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Meise · 1 establishment unit since 2002
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.
Akeleilaan 21860 MeiseGround area
1,121 m²
Building footprint
272 m²
Volume, LiDAR
1,517 m³
2 parcels, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Akeleilaan 3, 1860 Meise
since 20022.114.290.489
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23050F0139/00R000 | Flanders | 754 m² | 1 · 180 m² | 7.2 m · 2 fl. |
| 23050F0170/00P002 | Flanders | 367 m² | 1 · 92 m² | 8.8 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
Ownership & control
1 partyCARMALBE 0477.163.091
controls
Where this company holds controlthis company sits on their board1
1 subsidiary · 1 location
Recognitions · licences · registrations
Legal Entity Identifier
875500OO88YSC640HE08
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Of 82,570 companies in sector 70200 we hold annual accounts for 52,574. 35,495 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-03-2002
Fiscal year end30-09
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
74142
64200Holdings
64210Activities of holding companies
74151
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.