ACTIVE

Cartonnages Braes

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Financial year 2025 · closed on 31/12/2025

Net result

-1,1 k €

-106.7% YoY

Gross margin

6,8 k €

-91.0% YoY

Equity

147,8 k €

-0.8% YoY

What does Cartonnages Braes do?

Cartonnages Braes is a Private limited company incorporated in 1968. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0403.488.425

Incorporation

01/01/1968

Legal form

Private limited company

Registered office

Rue Laneau 60-62
1020 Bruxelles · BruxellesSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Joint committees (1)

Contacts

1 public detail availableLog in to view

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 21 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006		2005
Income statement
Gross margin	6,8 k €	-91.0%	75 k €	-8.8%	82,3 k €	-13.9%	95,5 k €	-21.8%	122,1 k €	+82.6%	66,9 k €	-30.2%	95,8 k €	-34.6%	146,5 k €	+16.2%	126 k €	+7.6%	117,1 k €	+17.6%	99,6 k €	+179%	35,7 k €	-38.0%	57,5 k €	+117%	26,5 k €	-61.7%	69,3 k €	-37.7%	111,1 k €	+11.2%	99,9 k €	-27.5%	137,8 k €	+4.7%	131,5 k €	+7.1%	122,9 k €	-7.1%	132,3 k €
EBITDA	3,2 k €	-91.0%	36 k €	+11.1%	32,4 k €	-7.9%	35,2 k €	-45.0%	64 k €	+93.4%	33,1 k €	-10.0%	36,8 k €	-53.4%	78,9 k €	+124%	35,2 k €	-3.0%	36,3 k €	+82.8%	19,8 k €	+128%	-70,7 k €	-212%	-22,7 k €	+66.3%	-67,4 k €	-360%	-14,7 k €	-142%	35,3 k €	-5.2%	37,2 k €	-38.6%	60,6 k €	+7.6%	56,3 k €	+21.1%	46,5 k €	-23.1%	60,5 k €
Operating result	-1,1 k €	-106%	18,2 k €	+273%	4,9 k €	-20.5%	6,2 k €	-79.9%	30,6 k €	+1131%	2,5 k €	-59.3%	6,1 k €	-87.6%	49,4 k €	+93.4%	25,5 k €	+27.7%	20 k €	+78.9%	11,2 k €	+114%	-81 k €	-131%	-35 k €	+58.4%	-84,2 k €	-165%	-31,8 k €	-252%	21 k €	-6.0%	22,3 k €	-32.6%	33,1 k €	+26.1%	26,2 k €	+345%	5,9 k €	+1356%	-469,9 €
Net result	-1,1 k €	-107%	17 k €	+314%	4,1 k €	-4.2%	4,3 k €	-85.4%	29,3 k €	+7382%	391,5 €	-87.8%	3,2 k €	-93.0%	46,1 k €	+98.4%	23,2 k €	+23.9%	18,8 k €	+91.6%	9,8 k €	+113%	-77,3 k €	-105%	-37,7 k €	+55.1%	-84 k €	-161%	-32,2 k €	-263%	19,8 k €	-21.8%	25,3 k €	-40.8%	42,8 k €	+112%	20,2 k €	+153%	8 k €	+281%	-4,4 k €
Balance sheet
Equity	147,8 k €	-0.8%	149 k €	+11.0%	134,1 k €	+1.0%	132,8 k €	+1.2%	131,3 k €	+25.3%	104,7 k €	-2.2%	107,1 k €	+0.4%	106,6 k €	+140%	44,5 k €	+109%	21,2 k €	+760%	2,5 k €	+134%	-7,3 k €	-110%	70 k €	-35.6%	108,7 k €	-43.9%	193,8 k €	-14.7%	227,1 k €	+4.0%	218,3 k €	+9.8%	198,8 k €	+9.9%	181 k €	+2.4%	176,8 k €	-1.1%	178,8 k €
Total assets	168,3 k €	-12.8%	193,1 k €	-11.8%	218,9 k €	-17.7%	266,1 k €	+5.1%	253,1 k €	+0.6%	251,6 k €	-16.0%	299,5 k €	-9.0%	329,3 k €	+3.4%	318,6 k €	+63.8%	194,5 k €	+32.3%	147,1 k €	-9.2%	161,9 k €	-9.2%	178,3 k €	-5.6%	188,9 k €	-21.7%	241,3 k €	-18.3%	295,4 k €	+6.4%	277,5 k €	-8.0%	301,7 k €	+25.7%	240 k €	-2.8%	247 k €	-3.2%	255 k €
Cash	56,6 k €	-13.4%	65,4 k €	-10.1%	72,8 k €	+10.2%	66,1 k €	+37.6%	48 k €	-38.6%	78,1 k €	+4.9%	74,5 k €	+22.6%	60,7 k €	+25.9%	48,2 k €	+21.1%	39,8 k €	+191%	13,7 k €	+50.7%	9,1 k €	+11.8%	8,1 k €	-13.0%	9,3 k €	-80.7%	48,4 k €	-44.5%	87,1 k €	+32.2%	65,9 k €	-28.8%	92,6 k €	+32.7%	69,8 k €	+122%	31,5 k €	-27.4%	43,3 k €
Debts	20,5 k €	-53.6%	44,1 k €	-47.9%	84,8 k €	-36.4%	133,3 k €	+9.4%	121,8 k €	-17.0%	146,8 k €	-23.7%	192,4 k €	-13.6%	222,7 k €	-15.9%	264,7 k €	+53.3%	172,7 k €	+19.4%	144,6 k €	-5.5%	153 k €	+58.9%	96,3 k €	+41.3%	68,2 k €	+78.4%	38,2 k €	-26.3%	51,9 k €	-12.4%	59,2 k €	-34.8%	90,9 k €	+55.4%	58,5 k €	-16.7%	70,2 k €	-3.2%	72,5 k €
Other
Workforce	–		–		–		–		–		–		1,5 ETP	-34.8%	2,3 ETP	0.0%	2,3 ETP	-20.7%	2,9 ETP	-9.4%	3,2 ETP	0.0%	3,2 ETP	0.0%	3,2 ETP	+10.3%	2,9 ETP	+7.4%	2,7 ETP	+17.4%	2,3 ETP	0.0%	2,3 ETP	0.0%	2,3 ETP	0.0%	2,3 ETP	0.0%	2,3 ETP	0.0%	2,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 10 ended

Active mandates

Serge Braes

Director

Active

Ended mandates

SERGE BRAES

Administrator - manager · since 19 décembre 2011

Ended

Frans Braes

Director · since 26 juin 2009 · until 26 juin 2015

Ended

Serge Braes

Managing director · since 26 juin 2009 · until 26 juin 2015

Ended

IMMOBRACO

Director · since 23 juin 2009 · until 23 juin 2015 · 0443.089.961

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	22/06/2026	07/08/2025	27/08/2024	31/08/2023	22/08/2022	15/07/2021
General meeting	12/05/2026	27/06/2025	04/03/2024	22/08/2023	09/08/2022	24/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	12/05/2026	22/06/2026	French	PDF
Micro model	31/12/2024	27/06/2025	07/08/2025	French	PDF
Micro model	31/12/2023	04/03/2024	27/08/2024	French	PDF
Micro model	31/12/2022	22/08/2023	31/08/2023	French	PDF
Micro model	31/12/2021	09/08/2022	22/08/2022	French	PDF
Micro model	31/12/2020	24/06/2021	15/07/2021	Dutch	PDF
Abridged model	31/12/2019	25/06/2020	30/06/2020	French	PDF
Abridged model	31/12/2018	27/06/2019	29/06/2019	French	PDF
Abridged model	31/12/2017	28/06/2018	29/06/2018	French	PDF
Abridged model	31/12/2016	29/06/2017	09/07/2017	French	PDF
Abridged model	31/12/2015	24/06/2016	20/07/2016	French	PDF
Abridged model	31/12/2014	26/01/2015	09/07/2015	French	PDF
Abridged model	31/12/2013	27/06/2014	18/12/2014	French	PDF
Abridged model	31/12/2012	28/06/2013	30/08/2013	French	PDF
Abridged model	31/12/2011	29/06/2012	19/08/2012	French	PDF
Abridged model	31/12/2010	24/06/2011	27/08/2011	French	PDF
Abridged model	31/12/2009	25/06/2010	11/08/2010	French	PDF
Abridged model	31/12/2008	26/06/2009	17/08/2009	French	PDF
Abridged model	31/12/2007	27/06/2008	24/08/2008	French	PDF
Abridged model	31/12/2006	22/06/2007	25/09/2007	French	PDF
Abridged model	31/12/2005	14/06/2007	26/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 10 ended

Active mandates

Serge Braes

Director

Active

Ended mandates

SERGE BRAES

Administrator - manager · since 19 décembre 2011

Ended

Frans Braes

Director · since 26 juin 2009 · until 26 juin 2015

Ended

Serge Braes

Managing director · since 26 juin 2009 · until 26 juin 2015

Ended

IMMOBRACO

Director · since 23 juin 2009 · until 23 juin 2015 · 0443.089.961

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/12/2019
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates23/01/2012
OBJET - DEMISSIONS, NOMINATIONS - MODIFICATION FORME JURIDIQUE
PDF
Mandates15/07/2009
DEMISSIONS, NOMINATIONS
PDF
Capital / shares19/02/2007
CAPITAL, ACTIONS - ASSEMBLEE GENERALE - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Capital / shares12/01/2004
CAPITAL, ACTIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-1,1 k €↓
2024
Annual accounts 202417 k €↑
2023
Annual accounts 20234,1 k €↓
2023
Name changeCartonnage Braes
2022
Annual accounts 20224,3 k €↓
2021
Annual accounts 202129,3 k €↑
2021
Name changeCartonnages Braes
2020
Annual accounts 2020391,5 €↓
2019
Annual accounts 20193,2 k €↓
2018
Annual accounts 201846,1 k €↑
2017
Annual accounts 201723,2 k €↑
2016
Annual accounts 201618,8 k €↑
2015
Annual accounts 20159,8 k €↑
2014
Annual accounts 2014-77,3 k €↓
2013
Annual accounts 2013-37,7 k €↑
2012
Annual accounts 2012-84 k €↓
2011
Annual accounts 2011-32,2 k €↓
2010
Annual accounts 201019,8 k €↓
2009
Annual accounts 200925,3 k €↓
2008
Annual accounts 200842,8 k €↑
2007
Annual accounts 200720,2 k €↑
2006
Annual accounts 20068 k €↑
2005
Annual accounts 2005-4,4 k €
01/01/1968
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Cartonnages Braes

Overview

What does Cartonnages Braes do?

Trend over 21 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline