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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Tight liquidity NBB
Cash and receivables cover 36 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Cartamundi Turnhout from Turnhout, company number BE0877566324, closed financial year 2025 with a result of € 19.4 million after tax. For that financial year Cartamundi Turnhout recorded revenue of € 118.6 million and equity of € 32.5 million. Compared with financial year 2024, the result moved from € 19.1 million to € 19.4 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 1, 2026.
€ 32.5 million
▲ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 19.4 million
▲ 2% vs 2024
Profit after tax over the fiscal year.
€ 161,604
▼ 94% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 18.5 million paid out
95 % of the profit went to the shareholders, mostly to Cartamundi NV (100 % of the shares). That is where the money ends up.
People and assets in 2025
375.9
▲ 18.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 28.9 million
▲ 8% vs 2024
€ 77,000 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.
€ 630,618
▲ 25% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 24.3 million
▲ 45% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 137 days on average.
€ 7.1 million
▲ 26% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 88,290,030 | € 87,331,739 | € 111,439,248 | € 118,647,269 | ▲ 6% |
| Profit after taxes | € 3,740,018 | € 8,411,831 | € 19,082,697 | € 19,379,539 | ▲ 2% |
| Equity | € 25,611,432 | € 29,518,267 | € 31,595,968 | € 32,470,512 | ▲ 3% |
| Total debts | € 58,621,707 | € 68,146,103 | € 72,105,048 | € 57,333,835 | ▼ 20% |
| Cash | € 4,361,337 | € 4,291,514 | € 2,529,149 | € 161,604 | ▼ 94% |
| Land & buildings | € 2,393,780 | € 2,259,387 | € 3,567,618 | € 4,064,833 | ▲ 14% |
| Retained profit | € 17,489,568 | € 21,401,399 | € 23,484,096 | € 24,363,635 | ▲ 4% |
| Dividend | € 3,740,018 | € 4,500,000 | € 17,000,000 | € 18,500,000 | ▲ 9% |
| Bank debt | € 22,958,747 | € 22,500,000 | € 22,500,000 | € 0 | ▼ 100% |
| Balance sheet total | € 84,406,918 | € 98,103,723 | € 103,915,637 | € 90,040,748 | ▼ 13% |
| Employees (FTE) | 335.9 | 344 | 357.4 | 375.9 | ▲ 18.5 |
Key figures of Cartamundi Turnhout, fiscal years 2022 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 Cartamundi Turnhout?
What happened at Cartamundi Turnhout in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Christophe Schellens stepped down as director. NBB
- Morrissey Barry stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 19.4 million (▲ 2% vs 2024). Source: NBB ↗
- David Germis stepped down as director. NBB
- Christophe Schellens became a director. NBB
- Morrissey Barry became a director. NBB
- David Germis became a director. NBB
- New establishment in Turnhout. KBO
In short
From € 3.7 million profit in 2022 to € 19.4 million profit in 2025.
Paid € 18.8 million in corporate taxes since 2022.
Best year ever: 2025, with € 19.4 million profit.
Paid out € 43.7 million in dividends to the owners in total.
Management
The stake of Cartamundi Services comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Cartamundi TurnhoutThe shares are held by Cartamundi NV (99.9%) and Cartamundi Services (0.1%). It owns 100% of France Cartes Sas, 100% of Cartamundi UK Ltd, 100% of Cartamundi Ireland Ltd, 100% of Cartamundi Deutschland Gmbh, 100% of Cartamundi Polska Sp. z.o.o. and 0.2% of Cartamundi Services itself.
Directors
According to the 2025 annual accounts
Morrissey Barry
Managing director
since 2024 · until 2027
since 2023 · until 2026
Christophe Schellens
Director
since 2025 · until 2028
Shareholders
99.9%
0.1%
Participations
France Cartes Sas
100%
100%
Cartamundi Ireland Ltd
100%
Cartamundi Polska Sp. z.o.o.
100%
0.2%
Establishments
Establishment units
Physical locations of this company
Visbeekstraat 22
2300 Turnhout
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 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
Certifications & Partners
Hosting & Email
Email provider
Mimecast
Hosting
COMBELL-AS, BE
Domain
Domain
cartamundi.com
Registered
1997-05-23
Registrar
101domain GRS Limited
Expires
2026-05-24
Website info
Features
Security
Details
- Company number
- 0877.566.324
- VAT number
- BE 0877.566.324
- Registered office
- Visbeekstraat 22, 2300 Turnhout
- Names & denominations
- Cartamundi Turnhout
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 29 November 2005
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- cartamundi.com
- Activities · NACE
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