ACTIVE

Carolec

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Financial year 2025 · closed on 31/12/2025

Net result

65,5 k €

-36.2% YoY

Gross margin

456,7 k €

+7.1% YoY

Equity

844,7 k €

-4.3% YoY

Workforce

4,0 ETP

0.0% YoY

What does Carolec do?

Carolec is a Private limited company incorporated in 1959. Its main activity is: Construction of buildings. Its registered office is in Brugge. It employs on average 4,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0406.048.829

Incorporation

08/07/1959

Legal form

Private limited company

Registered office

Hoveniersstraat 13
8000 Brugge · FlandreSee on map

Contributed capital

214 320,00 €

Latest accounts

31/12/2025

Average workforce

4,0 ETP

Activities (NACE)

41001Construction of buildings· main 41201Construction of residential and non-residential buildings 43211Electrical installation 43211Electrical installation 45211Maintenance and repair of motor vehicles 45310Wholesale trade of motor vehicle parts and accessories

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	456,7 k €	+7.1%	426,6 k €	+5.7%	403,7 k €	-29.5%	572,5 k €	-4.5%	599,2 k €	+36.7%	438,2 k €	-18.3%	536,6 k €	-24.6%	711,9 k €	+52.8%	465,8 k €	-28.0%	647 k €	-1.3%	655,6 k €	+9.1%	600,9 k €	+1.2%	593,7 k €	-2.3%	607,8 k €	+6.7%	569,6 k €	-9.7%	630,9 k €	+10.0%	573,4 k €	+55.8%	368,1 k €	-12.3%	419,5 k €
EBITDA	212,2 k €	+18.8%	178,6 k €	+17.2%	152,4 k €	-58.5%	367 k €	-2.2%	375,2 k €	+44.1%	260,4 k €	-34.9%	400 k €	-29.9%	570,8 k €	+70.9%	333,9 k €	-26.2%	452,6 k €	+5.0%	431 k €	+1.4%	425,1 k €	+4.6%	406,2 k €	-2.4%	416,3 k €	+7.7%	386,5 k €	-12.0%	439,1 k €	+15.5%	380,3 k €	+54.9%	245,6 k €	+205%	80,5 k €
Operating result	120,6 k €	+4.9%	115 k €	+224%	35,5 k €	-86.9%	270,8 k €	+7.4%	252,2 k €	+79.0%	140,9 k €	-42.0%	243,1 k €	-48.0%	467,6 k €	+124%	209,2 k €	-41.6%	358,4 k €	+22.4%	292,9 k €	-1.5%	297,4 k €	+0.6%	295,5 k €	+6.5%	277,4 k €	-2.8%	285,5 k €	-15.3%	337,1 k €	+21.5%	277,5 k €	+54.9%	179,1 k €	+209%	58 k €
Net result	65,5 k €	-36.2%	102,8 k €	+285%	26,7 k €	-85.8%	187,7 k €	+12.3%	167,1 k €	+15.6%	144,6 k €	-15.0%	170,1 k €	-55.2%	379,8 k €	+118%	173,9 k €	-41.3%	296,2 k €	+18.2%	250,7 k €	-2.2%	256,3 k €	-4.5%	268,4 k €	+14.9%	233,5 k €	-0.0%	233,7 k €	-15.0%	275 k €	+14.7%	239,7 k €	+36.6%	175,5 k €	+229%	53,3 k €
Balance sheet
Equity	844,7 k €	-4.3%	883 k €	+0.5%	878,5 k €	-14.3%	1 M €	+8.0%	949,7 k €	+13.9%	833,9 k €	-8.4%	910 k €	-19.6%	1,1 M €	+12.9%	1 M €	+5.7%	948,7 k €	+5.1%	902,4 k €	+230%	273,4 k €	-66.1%	806,9 k €	+13.9%	708,5 k €	+17.1%	605 k €	+20.7%	501,4 k €	+28.1%	391,4 k €	+23.6%	316,7 k €	+3.1%	307,2 k €
Total assets	1,1 M €	+2.5%	1,1 M €	-7.0%	1,1 M €	-13.8%	1,3 M €	+17.5%	1,1 M €	-13.7%	1,3 M €	+16.1%	1,1 M €	-25.1%	1,5 M €	+12.7%	1,3 M €	+1.4%	1,3 M €	+0.5%	1,3 M €	+6.1%	1,2 M €	+19.8%	1 M €	+17.4%	878,3 k €	-0.3%	881,4 k €	+9.1%	807,8 k €	+15.1%	702 k €	+4.8%	669,8 k €	+23.4%	542,6 k €
Cash	417,6 k €	-3.8%	434,1 k €	+5.4%	412 k €	-26.9%	563,9 k €	+108%	271,5 k €	-25.7%	365,3 k €	+160%	140,6 k €	-71.8%	498,2 k €	+109%	238,6 k €	-11.9%	270,7 k €	+238%	80,1 k €	-68.8%	257,1 k €	-42.6%	448,2 k €	-2.4%	459,2 k €	+30.6%	351,7 k €	+11.0%	316,7 k €	+87.1%	169,3 k €	+10.8%	152,8 k €	-22.8%	198 k €
Debts	245,4 k €	+36.6%	179,6 k €	-32.0%	264,1 k €	-11.9%	299,7 k €	+68.0%	178,4 k €	-62.1%	470,7 k €	+117%	217,1 k €	-39.5%	358,8 k €	+12.9%	317,8 k €	-11.2%	358 k €	-12.6%	409,6 k €	-57.5%	962,8 k €	+353%	212,6 k €	+34.8%	157,7 k €	-40.3%	264,4 k €	-10.2%	294,5 k €	-1.4%	298,6 k €	-15.4%	353,2 k €	+127%	155,4 k €
Other
Workforce	4,0 ETP	0.0%	4,0 ETP	0.0%	4,0 ETP	+5.3%	3,8 ETP	-22.4%	4,9 ETP		–		4,0 ETP	-4.8%	4,2 ETP	+35.5%	3,1 ETP	-24.4%	4,1 ETP	-18.0%	5,0 ETP	0.0%	5,0 ETP	+4.2%	4,8 ETP	-4.0%	5,0 ETP	0.0%	5,0 ETP	-2.0%	5,1 ETP	+10.9%	4,6 ETP	-19.3%	5,7 ETP	-1.7%	5,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

Mathias Lowagie

Director

Active

Ended mandates

Mathias Lowagie

Director · since 01 novembre 2004

Ended

MATHIAS LOWAGIE

Manager · since 01 novembre 2004

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	28/07/2026	27/07/2025	26/07/2024	25/07/2023	24/08/2022	30/08/2021
General meeting	19/06/2026	19/07/2025	21/06/2024	23/06/2023	24/06/2022	23/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	19/06/2026	28/07/2026	Dutch	PDF
Abridged model	31/12/2024	19/07/2025	27/07/2025	Dutch	PDF
Abridged model	31/12/2023	21/06/2024	26/07/2024	Dutch	PDF
Abridged model	31/12/2022	23/06/2023	25/07/2023	Dutch	PDF
Abridged model	31/12/2021	24/06/2022	24/08/2022	Dutch	PDF
Abridged model	31/12/2020	23/06/2021	30/08/2021	Dutch	PDF
Abridged model	31/12/2019	02/10/2020	07/10/2020	Dutch	PDF
Abridged model	31/12/2018	30/09/2019	23/10/2019	Dutch	PDF
Abridged model	31/12/2017	12/09/2018	24/09/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	27/07/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	15/07/2016	Dutch	PDF
Abridged model	31/12/2014	04/07/2015	17/07/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	16/07/2014	Dutch	PDF
Abridged model	31/12/2012	06/07/2013	30/07/2013	Dutch	PDF
Abridged model	31/12/2011	31/07/2012	31/08/2012	Dutch	PDF
Abridged model	31/12/2010	31/05/2011	24/06/2011	Dutch	PDF
Abridged model	31/12/2009	30/06/2010	12/07/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	25/08/2009	Dutch	PDF
Abridged model	31/12/2007	30/06/2008	25/08/2008	Dutch	PDF
Abridged model	31/12/2006	30/06/2007	31/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

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 · 2 ended

Active mandates

Mathias Lowagie

Director

Active

Ended mandates

Mathias Lowagie

Director · since 01 novembre 2004

Ended

MATHIAS LOWAGIE

Manager · since 01 novembre 2004

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates01/03/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares30/03/2018
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Capital / shares06/03/2014
KAPITAAL - AANDELEN
PDF
Capital / shares16/04/2009
KAPITAAL - AANDELEN
PDF
Capital / shares05/10/2006
KAPITAAL - AANDELEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
PDF
Mandates19/01/2006
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/12/2004
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/10/2003
ONTSLAGEN - BENOEMINGEN
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 202565,5 k €↓
2024
Annual accounts 2024102,8 k €↑
2023
Annual accounts 202326,7 k €↓
2022
Annual accounts 2022187,7 k €↑
2021
Annual accounts 2021167,1 k €↑
2020
Annual accounts 2020144,6 k €↓
2018
Annual accounts 2018170,1 k €↓
2017
Annual accounts 2017379,8 k €↑
2016
Annual accounts 2016173,9 k €↓
2015
Annual accounts 2015296,2 k €↑
2014
Annual accounts 2014250,7 k €↓
2013
Annual accounts 2013256,3 k €↓
2012
Annual accounts 2012268,4 k €↑
2011
Annual accounts 2011233,5 k €↓
2010
Annual accounts 2010233,7 k €↓
2009
Annual accounts 2009275 k €↑
2008
Annual accounts 2008239,7 k €↑
2007
Annual accounts 2007175,5 k €↑
2006
Annual accounts 200653,3 k €
08/07/1959
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

Carolec

Overview

What does Carolec do?

Trend over 19 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