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 42 % of short-term debt in 2025; threshold 65 %.
-
Shrinking team NBB
FTE fell two years in a row, from 31.3 to 0.
Financials
Financial year 2025
GARMAT from Erpe-Mere, company number BE0897795772, closed financial year 2025 with a result of € -1 million after tax. For that financial year GARMAT recorded a gross margin of € 1.1 million and equity of € 23,343. Compared with financial year 2024, the result moved from € 31,434 to € -1 million. The company made a loss. The buffer shrank hard: equity is 98 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on November 27, 2025.
€ 23,343
▼ 98% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1 million
▼ still € 31,434 profit in 2024
Profit after tax over the fiscal year.
€ 375,394
▲ 17% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -376,657.
People and assets in 2025
0
▼ 29.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2 million
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 97,509
▼ 31% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.3 million
▲ 70% vs 2024
€ 35,873 is repaid this year. At this pace the long-term loan is gone in ≈ 35 years.
€ 867,703
▲ 8% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 230,372
▲ 2% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 2,208,595 | € 1,991,063 | € 2,346,907 | € 1,098,110 | ▼ 53% |
| Profit after taxes | € 98,534 | € -48,636 | € 31,434 | € -1,006,400 | ▼ € 1 million |
| Equity | € 1,046,944 | € 998,308 | € 1,029,742 | € 23,343 | ▼ 98% |
| Total debts | € 1,425,674 | € 1,581,323 | € 1,773,722 | € 4,338,722 | ▲ 145% |
| Cash | € 394,913 | € 500,142 | € 321,285 | € 375,394 | ▲ 17% |
| Retained profit | € 646,944 | € 598,308 | € 629,742 | € -376,657 | ▼ € 1 million |
| Bank debt | € 688,733 | € 700,005 | € 746,113 | € 1,266,857 | ▲ 70% |
| Balance sheet total | € 2,569,847 | € 2,695,636 | € 2,928,135 | € 4,502,052 | ▲ 54% |
| Employees (FTE) | 31.4 | 31.3 | 29.3 | 0 | ▼ 29.3 |
Key figures of GARMAT, 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 October 2026.
What happened to GARMAT?
What happened at GARMAT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 1 million (▼ € 1 million vs 2024). filed late Source: NBB ↗
- CxO Services BV became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Erpe-Mere. KBO
In short
From € 98,534 profit in 2022 to € 1 million loss in 2025.
Paid € 11,381 in corporate taxes since 2022.
Best year ever: 2022, with € 98,534 profit.
On average € 80,100 of value added per employee in 2024.
A new publication or filing at GARMAT? We notify you, reason included.
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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
The stake of CxO SERVICES comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
GARMATBehind GARMAT is CxO Services BV. The shares are held by CxO SERVICES (100%).
Directors
According to the 2025 annual accounts
since 2024
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Joseph Cardijnstraat 42
9420 Erpe-Mere
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
Outlook.com (free)
Hosting
DSTNY-BACKBONE International Backbone, BE
Domain
Domain
garmateurope.eu
Registrar
Combell NV
Website info
Features
Security
Details
- Company number
- 0897.795.772
- VAT number
- BE 0897.795.772
- Registered office
- Joseph Cardijnstraat 42, 9420 Erpe-Mere
- Names & denominations
- GARMAT
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 8 May 2008
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- garmateurope.eu
- Activities · NACE
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