Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Figures corrected NBB
Corrected annual account filed for 2023.
Financials
Financial year 2025
Carpenter Europe from Machelen (Brab.), company number BE0798476680, closed financial year 2025 with a result of € 10.9 million after tax. Compared with financial year 2024, the result moved from € 6.4 million to € 10.9 million. Profitable, and profit is growing. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 22, 2026.
€ 424.9 million
▼ 6% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 10.9 million
▲ 70% vs 2024
Profit after tax over the fiscal year.
€ 5.7 million
▲ 48% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 5 million paid out
46 % of the profit went to the shareholders, mostly to Carpenter Holdings, Inc. (100 % of the shares). That is where the money ends up.
People and assets in 2025
15.8
▲ 8.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 4.1 million
▲ 208% vs 2024
€ 260,400 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.
€ 115,432
▼ 28% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 46.1 million
Loans from banks and other lenders, long and short.
€ 819,441
▲ € 650,152 vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 45 days on average.
€ 1.2 million
▲ 118% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|
| Profit after taxes | € -1,374,383 | € 6,393,415 | € 10,859,021 | ▲ 70% |
| Equity | € 445,809,109 | € 452,202,524 | € 424,910,004 | ▼ 6% |
| Total debts | € 10,469,796 | € 53,324,928 | € 49,069,446 | ▼ 8% |
| Cash | € 963,610 | € 3,876,871 | € 5,740,331 | ▲ 48% |
| Land & buildings | € 231,566 | € 202,620 | € 173,674 | ▼ 14% |
| Retained profit | € -1,374,383 | € 5,019,032 | € 10,859,021 | ▲ 116% |
| Dividend | € 0 | € 0 | € 5,019,032 | |
| Bank debt | € 7,211,428 | € 46,040,639 | € 46,109,248 | |
| Balance sheet total | € 456,278,906 | € 506,096,405 | € 474,588,708 | ▼ 6% |
| Employees (FTE) | - | 7.4 | 15.8 | ▲ 8.4 |
Key figures of Carpenter Europe, fiscal years 2023 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Carpenter Europe?
What happened at Carpenter Europe in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 10.9 million (▲ 70% vs 2024). Source: NBB ↗
- Herbert Claiborne III stepped down as director. NBB
- Olivier Leemans became a director. NBB
- New establishment in Machelen (Brab.). KBO
- Bradford Beauchamp became a director. NBB
- Frank Sander became a director. NBB
- Peter Muniz became a director. NBB
- Herbert Claiborne III became a director. NBB
In short
From € 1.4 million loss in 2023 to € 10.9 million profit in 2025.
Paid € 4,585 in corporate taxes since 2023.
Best year ever: 2025, with € 10.9 million profit.
Paid out € 5 million in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind Carpenter Europe are Olivier Leemans, Bradford Beauchamp, Frank Sander and Peter Muniz. The shares are held by Carpenter Holdings, Inc. (100%). It owns 100% of Carpenter Engineered Foams Switzerland AG, 100% of Carpenter Engineered Foams Sweden AB, 100% of Carpenter Engineered Foams SAS, 100% of Carpenter Engineered Foams Belgium BV, 100% of Carpenter Co. (Shanghai) Ltd. and 100% of Carpenter Iberica sl itself.
Directors
According to the 2025 annual accounts
Olivier Leemans
Director
since 2026
since 2023
since 2023
Peter Muniz
Director
since 2023
Herbert Claiborne III
Director
since 2023 · until 2026
Shareholders
Carpenter Holdings, Inc.
100%
Participations
Carpenter Engineered Foams Switzerland AG
100%
Carpenter Engineered Foams Sweden AB
100%
Carpenter Engineered Foams SAS
100%
Carpenter Co. (Shanghai) Ltd.
100%
Carpenter Iberica sl
100%
Carpenter Engineered Foams Maroc
100%
Carpenter Engineered Foams Germany GmbH
100%
Carpenter International Services sp. z o.o.
100%
Carpenter Co. (Wuxi) Ltd
100%
Carpenter Teknik Sünger Izolasyon Sanayi Ve Ticaret Anonim Şirketi.
100%
Carpenter Engineered Foams India Private Limited
99.9%
Carpenter AS
Carpenter Engineered Foams OY
Carpenter Engineered Foams Pte Ltd
Carpenter Holding AG
Carpenter PU Material (Changzhou) Ltd.
Carpenter Engineered Foams OÜ
Establishments
Establishment units
Physical locations of this company
Culliganlaan 2F
1831 Machelen (Brab.)
Culliganlaan 2 box F
1831 Machelen (Brab.)
Active since 1 October 2023
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Self-hosted
Hosting
CLOUDFLARESPECTRUM Cloudflare, Inc., US
Domain
Domain
carpenter.com
Registered
1993-12-20
Registrar
Network Solutions, LLC
Expires
2026-12-19
Website info
Features
Security
Details
- Company number
- 0798.476.680
- VAT number
- BE 0798.476.680
- Registered office
- Culliganlaan 2F, 1831 Machelen (Brab.)
- Names & denominations
- Carpenter Europe
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 15 February 2023
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- carpenter.com
- Activities · NACE
Activiteiten van holdings
Holdings