KARMA
ActiveSummary
KARMA has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €515k and a net result of €-10k. Equity is shrinking by ~3.9% per year across the filed fiscal years. Its solvency ranks better than 67% of 3187 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
Profitability17▲+4
Solvency97▲+2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 3.6 against 3.65 in 2024; short-term debt: 27.6% and cash: 60.3% of total assets), and 27.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 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
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
72.2%
Return on assets
-1.5%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
18192122232425
2018 to 2025 · latest year €-10k
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
42 d early
2023
27 d early
2022
26 d early
2021
38 d early
2020
3 d early
2019
22 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-10k▲ 68.0%
2024 · €-33k
2018: €137k
2019: €126k
2021: €93k
2022: €65k
2023: €68k
2024: €-33k
2018 → 2025
Working capital
€512k▼ 5.7%
2024 · €543k
2018: €548k
2019: €61k
2021: €512k
2022: €557k
2023: €602k
2024: €543k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€425k-€490k▲ 15.2%€558k▲ 13.9%€526k▼ 5.8%€515k▼ 2.0%
Operating result€140k-€105k▼ 25.2%€107k▲ 2.4%€-38k€-20k▲ 46.7%
Net result€93k-€65k▼ 30.3%€68k▲ 5.1%€-33k€-10k▲ 68.0%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €20k in 2025 against €38k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €713k
Fixed assets
€4k ▼ 42.4%
Current assets
€709k ▼ 5.2%
Equity and liabilities €713k
Equity
€515k ▼ 2.0%
Debt
€198k ▼ 13.8%
Debt's share of the balance-sheet total falls from 30.4% to 27.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-17k▲
2024 · €-33k
Cash flow
€-7k▲
2024 · €-28k
Current ratio
3.60▼
2024 · 3.65
Debt to equity
0.38▼
2024 · 0.44
ROE
-2.0%▲
2024 · -6.2%
ROA
-1.5%▲
2024 · -4.3%
Interest coverage
-1.97▲
2024 · -3.23
Debt ≤ 1 year
€197k▼
2024 · €205k
Debt > 1 year
€0▼
2024 · €25k
Income taxes
€778▼
2024 · €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 · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€755k€713k▼
Fixed assets21/28€8k€4k▼
Tangible fixed assets22/27€8k€4k▼
Land and buildings22€4k€1k▼
Plant, machinery and equipment23€3k€3k=
Current assets29/58€748k€709k▼
Amounts receivable after more than one year29€400-
Other amounts receivable291€400-
Amounts receivable within one year40/41€266k€279k▲
Other amounts receivable41€266k€279k▲
Current investments50/53€350k-
Cash at bank and in hand54/58€130k€430k▲
Deferred charges and accrued income490/1€1k€353▼
Equity and liabilities
Total equity and liabilities10/49€755k€713k▼
Equity10/15€526k€515k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€257k€257k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€251k€251k=
Profit (loss) carried forward14€207k€197k▼
Amounts payable17/49€230k€198k▼
Amounts payable after more than one year17€25k€0▼
Other amounts payable178/9€25k€0▼
Amounts payable within one year42/48€205k€197k▼
Current portion of amounts payable after more than one year42€32k€25k▼
Trade debts44€3k€2k▼
Suppliers440/4€3k€2k▼
Taxes, remuneration and social security45€2k€2k=
Taxes450/3€2k€2k=
Other amounts payable47/48€169k€169k=
Accrued charges and deferred income492/3-€1k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€3k▼
Other operating charges640/8€1k€1k▼
Gross operating margin9900€-32k€-16k▲
Operating profit (loss)9901€-38k€-20k▲
Financial income75/76B€18k€19k▲
Recurring financial income75€18k€19k▲
Financial charges65/66B€10k€9k▼
Recurring financial charges65€10k€9k▼
Profit (loss) for the period before taxes9903€-30k€-10k▲
Income taxes67/77€2k€778▼
Profit (loss) for the period9904€-33k€-10k▲
Profit (loss) for the period to be appropriated9905€-33k€-10k▲
Appropriation of the result
Profit (loss) to be appropriated9906€207k€197k▼
Profit (loss) brought forward from the previous period14P€240k€207k▼
The notes to these accounts (3 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-33k ▼148%
Net result drops to €-33k, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €500kEq €558k ▲13.9%
5 profitable years in a row build equity to €558k.
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity triplescurrent ratio 3.33
Current ratio from 1.09 to 3.33; short-term debt falls from €697k to €220k.
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
07-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 68 days late
2018
18-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
01-06
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
10 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, Wielsbeke · 1 establishment unit since 1995
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.
Driekoningenstraat(S.B.V.) 78710 WielsbekeGround area
4.3 ha
Building footprint
3.7 ha
Parcel 37014A0276/00H000, Flanders. Linked by address, not a title deed.
1 establishment unit
KARMA NV
since 19952.069.654.455
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37014A0276/00H000 | Flanders | 4.3 ha | 1 · 3.7 ha | - |
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.
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PROJIMMO
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ALEMI MANAGEMENT GROUP
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ITINERIS
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Of 82,562 companies in sector 70200 we hold annual accounts for 52,574. 34,406 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 formPublic limited company
Founded19-12-1994
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 31 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
General meetings
1 convocationGeneral meeting
Jaarverslag. Goedkeuring jaarrekening. Bestemming resultaat. Kwijting bestuurders. Divers. (AOPC-1-9-05153/15.05)