Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 35 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 7.7 to 6.6.
Financials
Financial year 2025
Cartojet from Menen, company number BE0629949969, closed financial year 2025 with a result of € -202,719 after tax. For that financial year Cartojet recorded a gross margin of € 123,317 and equity of € 2,191. Compared with financial year 2024, the result moved from € 121,603 to € -202,719. The company made a loss. The buffer shrank hard: equity is 99 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on January 29, 2026.
€ 2,191
▼ 99% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -202,719
▼ still € 121,603 profit in 2024
Profit after tax over the fiscal year.
€ 74,761
▼ 68% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -97,809.
People and assets in 2025
6.6
▼ 0.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 277,435
▲ 5% vs 2024
€ 42,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 9,965
▲ € 9,285 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 21,423
▲ 19% vs 2024
€ 7,072 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 258,706
▼ 9% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 35,748
▼ 27% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 509,497 | € 571,275 | € 521,826 | € 123,317 | ▼ 76% |
| Profit after taxes | € 148,101 | € 179,916 | € 121,603 | € -202,719 | ▼ € 324,322 |
| Equity | € 243,391 | € 183,307 | € 204,910 | € 2,191 | ▼ 99% |
| Total debts | € 1,056,123 | € 750,764 | € 451,683 | € 337,662 | ▼ 25% |
| Cash | € 822,966 | € 498,237 | € 234,544 | € 74,761 | ▼ 68% |
| Land & buildings | € 18,811 | € 7,066 | € 2,086 | € 72 | ▼ 97% |
| Retained profit | € 143,391 | € 83,307 | € 104,910 | € -97,809 | ▼ € 202,719 |
| Dividend | € 125,000 | € 240,000 | € 100,000 | € 0 | ▼ 100% |
| Bank debt | € 71,099 | € 42,000 | € 18,000 | € 21,423 | ▲ 19% |
| Balance sheet total | € 1,299,513 | € 939,731 | € 662,253 | € 339,853 | ▼ 49% |
| Employees (FTE) | 9.1 | 7.7 | 6.9 | 6.6 | ▼ 0.3 |
Key figures of Cartojet, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to Cartojet?
What happened at Cartojet in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 202,719 (▼ € 324,322 vs 2024). Source: NBB ↗
- New establishment in Menen. KBO
- Start of the company according to the CBE. KBO
In short
From € 148,101 profit in 2022 to € 202,719 loss in 2025.
Paid € 63,333 in corporate taxes since 2022.
Best year ever: 2023, with € 179,916 profit.
On average € 18,700 of value added per employee in 2025.
Management
The stake of RUBELLE, Mawolar comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
CartojetBehind Cartojet is Rubelle BV. The shares are held by RUBELLE (100%) and Mawolar (99%).
Directors
According to the 2025 annual accounts
Director · represented by Platteeuw RUBEN
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Dronckaertstraat 47
8930 Menen
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0629.949.969
- VAT number
- BE 0629.949.969
- Registered office
- Dronckaertstraat 47, 8930 Menen
- Names & denominations
- Cartojet
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 11 May 2015
- Peppol
- Active · Active since 26 Jan 2026
- Activities · NACE
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