ACTIVE

CAROLUS TREES

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Financial year 2025 · closed on 31/12/2025

Net result

899 k €

+23.0% YoY

Revenue

10,7 M €

+3.5% YoY

Equity

4,5 M €

+7.1% YoY

Workforce

60,8 ETP

-7.0% YoY

What does CAROLUS TREES do?

CAROLUS TREES is a Private limited company incorporated in 1991. Its main activity is: Growing of rice. Its registered office is in Nieuwerkerken (Limb.). It employs on average 60,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0445.425.582

Incorporation

11/10/1991

Legal form

Private limited company

Registered office

Heuvelstraat 50
3850 Nieuwerkerken (Limb.) · FlandreSee on map

Contributed capital

26 572,91 €

Latest accounts

31/12/2025

Average workforce

60,8 ETP

Activities (NACE)

01123Growing of rice· main 01301Plant propagation 01301Plant propagation 01130Growing of vegetables and melons, roots and tubers 01240Growing of pome fruits and stone fruits 01240Growing of pome fruits and stone fruits+3

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2012		2011		2010		2009		2008		2007
Income statement
Revenue	10,7 M €	+3.5%	10,4 M €	+13.0%	9,2 M €	-26.5%	12,5 M €	+2.4%	12,2 M €	+15.1%	10,6 M €	+7.6%	9,9 M €	+8.5%	9,1 M €	+15.2%	7,9 M €	-10.5%	8,8 M €	-3.8%	9,2 M €	-49.4%	18,1 M €	+194%	6,2 M €		–		–		–		–		–
EBITDA	1,5 M €	+10.6%	1,3 M €	+27.8%	1,1 M €	-60.5%	2,7 M €	-16.7%	3,2 M €	+56.6%	2 M €	+45.8%	1,4 M €	-4.1%	1,5 M €	+19.5%	1,2 M €	-38.8%	2 M €	+22.7%	1,6 M €	-49.5%	3,2 M €	+990%	296,7 k €	-64.5%	834,7 k €	+91.5%	435,9 k €	-32.9%	649,2 k €	-18.0%	791,7 k €	-26.2%	1,1 M €
Operating result	1,1 M €	+20.9%	903,5 k €	+43.3%	630,4 k €	-72.7%	2,3 M €	-24.7%	3,1 M €	+79.8%	1,7 M €	+71.9%	991,6 k €	+12.6%	880,6 k €	+39.3%	632,3 k €	-57.5%	1,5 M €	+71.1%	870,5 k €	-57.4%	2 M €	+790%	-296,3 k €	-184%	352,9 k €	+207%	115 k €	-47.8%	220,1 k €	-13.7%	255 k €	+325%	-113,2 k €
Net result	899 k €	+23.0%	731,1 k €	+39.3%	524,7 k €	-71.9%	1,9 M €	-21.7%	2,4 M €	+53.8%	1,5 M €	+106%	751 k €	+16.7%	643,7 k €	+70.6%	377,2 k €	-59.8%	939,2 k €	+68.8%	556,3 k €	-61.3%	1,4 M €	+563%	-310,7 k €	-250%	207,2 k €	+46.9%	141 k €	-33.0%	210,5 k €	+20.5%	174,7 k €	+216%	-150,5 k €
Balance sheet
Equity	4,5 M €	+7.1%	4,2 M €	+0.7%	4,2 M €	-4.0%	4,4 M €	+36.0%	3,2 M €	+78.6%	1,8 M €	+68.2%	1,1 M €	-32.7%	1,6 M €	-61.7%	4,1 M €	+7.1%	3,9 M €	+32.0%	2,9 M €	+16.7%	2,5 M €	+63.4%	1,5 M €	-22.9%	2 M €	+3.8%	1,9 M €	+7.8%	1,8 M €	+13.2%	1,6 M €	+11.5%	1,4 M €
Total assets	9,3 M €	+1.4%	9,2 M €	+1.2%	9,1 M €	+1.0%	9 M €	-1.7%	9,2 M €	+28.5%	7,1 M €	+10.6%	6,5 M €	-28.2%	9 M €	+13.3%	7,9 M €	+8.2%	7,3 M €	+16.2%	6,3 M €	-19.7%	7,9 M €	+28.0%	6,1 M €	-7.2%	6,6 M €	+29.6%	5,1 M €	+7.2%	4,8 M €	-26.4%	6,5 M €	+7.8%	6 M €
Cash	1,3 M €	+10.4%	1,2 M €	-1.4%	1,2 M €	-28.5%	1,7 M €	-32.6%	2,5 M €	+89.1%	1,3 M €	+155%	524,3 k €	-82.7%	3 M €	+22.9%	2,5 M €	+26.9%	1,9 M €	-3.9%	2 M €	-17.3%	2,4 M €	+2107%	111 k €	-48.6%	216,1 k €	+86.4%	115,9 k €	-41.9%	199,6 k €	+61.7%	123,4 k €	-65.5%	357,4 k €
Debts	4,8 M €	-3.3%	5 M €	+1.8%	4,9 M €	+6.4%	4,6 M €	-22.0%	5,9 M €	+15.1%	5,1 M €	-1.0%	5,2 M €	-29.0%	7,3 M €	+98.6%	3,7 M €	+8.4%	3,4 M €	+6.4%	3,2 M €	-40.0%	5,3 M €	+15.7%	4,6 M €	-0.1%	4,6 M €	+45.1%	3,2 M €	+7.4%	2,9 M €	-39.2%	4,8 M €	+6.5%	4,6 M €
Other
Workforce	60,8 ETP	-7.0%	65,4 ETP	-4.1%	68,2 ETP	-4.9%	71,7 ETP	-1.5%	72,8 ETP	-7.3%	78,5 ETP	+3.6%	75,8 ETP	+2.8%	73,7 ETP	+7.4%	68,6 ETP	-1.9%	69,9 ETP	+10.3%	63,4 ETP	-5.8%	67,3 ETP	+0.1%	67,2 ETP	+25.4%	53,6 ETP	+17.3%	45,7 ETP	-16.3%	54,6 ETP	+23.8%	44,1 ETP	+28.6%	34,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 13 ended

Active mandates

Caroline Maesen

Director · since 01 mars 2023

Active

FÉLICO

Director · since 01 mars 2023 · 0790.295.226

Represented by Kristof Stremersch

Active

GROUP MC

Director · since 01 mars 2023 · 0438.856.506

Represented by Willem Broux

Active

Ended mandates

GROUP MC

Director · since 01 mars 2023 · 0438.856.506

Represented by Willem Broux

Ended

GROUP MC

Manager · since 01 avril 2019 · 0438.856.506

Represented by Willem Broux

Ended

GROUP MC

Director · since 01 avril 2019 · 0438.856.506

Represented by Willem Broux

Ended

GROUP MC

Manager · since 01 avril 2019 · 0438.856.506

Represented by Willem Broux

Ended

At this address

Other companies at this address

Company	CBE no.
Carsort● Active	0467.939.876

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	26/06/2026	24/07/2025	12/08/2024	26/06/2023	13/06/2022	23/08/2021
General meeting	25/06/2026	30/06/2025	31/05/2024	26/05/2023	27/05/2022	11/06/2021
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

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	25/06/2026	26/06/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	24/07/2025	Dutch	PDF
Full model	31/12/2023	31/05/2024	12/08/2024	Dutch	PDF
Full model	31/12/2022	26/05/2023	26/06/2023	Dutch	PDF
Full model	31/12/2021	27/05/2022	13/06/2022	Dutch	PDF
Full model	31/12/2020	11/06/2021	23/08/2021	Dutch	PDF
Full model	31/12/2019	29/05/2020	13/07/2020	Dutch	PDF
Full model	31/12/2018	31/05/2019	11/06/2019	Dutch	PDF
Full model	31/12/2017	25/05/2018	22/06/2018	Dutch	PDF
Full model	31/12/2016	26/05/2017	11/08/2017	Dutch	PDF
Full model	31/12/2015	27/05/2016	13/07/2016	Dutch	PDF
Full model	30/11/2014	24/04/2015	10/07/2015	Dutch	PDF
Full model	31/12/2012	31/05/2013	26/11/2013	Dutch	PDF
Abridged model	31/12/2011	25/05/2012	29/08/2012	Dutch	PDF
Abridged model	31/12/2010	27/05/2011	31/08/2011	Dutch	PDF
Abridged model	31/12/2009	28/05/2010	30/08/2010	Dutch	PDF
Abridged model	31/12/2008	29/05/2009	28/08/2009	Dutch	PDF
Abridged model	31/12/2007	30/05/2008	30/06/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 3 active · 13 ended

Active mandates

Caroline Maesen

Director · since 01 mars 2023

Active

FÉLICO

Director · since 01 mars 2023 · 0790.295.226

Represented by Kristof Stremersch

Active

GROUP MC

Director · since 01 mars 2023 · 0438.856.506

Represented by Willem Broux

Active

Ended mandates

GROUP MC

Director · since 01 mars 2023 · 0438.856.506

Represented by Willem Broux

Ended

GROUP MC

Manager · since 01 avril 2019 · 0438.856.506

Represented by Willem Broux

Ended

GROUP MC

Director · since 01 avril 2019 · 0438.856.506

Represented by Willem Broux

Ended

GROUP MC

Manager · since 01 avril 2019 · 0438.856.506

Represented by Willem Broux

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates16/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/03/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/07/2020
ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
PDF
Mandates20/05/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/02/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/02/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/10/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/03/2016
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 2025899 k €↑
2024
Annual accounts 2024731,1 k €↑
2023
Annual accounts 2023524,7 k €↓
2022
Annual accounts 20221,9 M €↓
2022
Name changeCAROLUS TREES
2021
Annual accounts 20212,4 M €↑
2020
Annual accounts 20201,5 M €↑
2019
Annual accounts 2019751 k €↑
2018
Annual accounts 2018643,7 k €↑
2017
Annual accounts 2017377,2 k €↓
2016
Annual accounts 2016939,2 k €↑
2015
Annual accounts 2015556,3 k €↓
2014
Annual accounts 20141,4 M €↑
2012
Annual accounts 2012-310,7 k €↓
2011
Annual accounts 2011207,2 k €↑
2010
Annual accounts 2010141 k €↓
2009
Annual accounts 2009210,5 k €↑
2008
Annual accounts 2008174,7 k €↑
2007
Annual accounts 2007-150,5 k €
2007
Name changeCAROLUS C.
11/10/1991
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

CAROLUS TREES

Overview

What does CAROLUS TREES do?

Trend over 18 financial years

Indicative valuation

Board of directors

Other companies at this address

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