ACTIVE

CAROLINE

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Financial year 2025 · closed on 31/12/2025

Net result

136,8 k €

+195.4% YoY

Gross margin

461,6 k €

+39.3% YoY

Equity

682 k €

0.0% YoY

Workforce

5,1 ETP

-10.5% YoY

What does CAROLINE do?

CAROLINE is a Private limited company incorporated in 1992. Its registered office is in Knokke-Heist. It employs on average 5,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0449.051.107

Incorporation

30/12/1992

Legal form

Private limited company

Registered office

Monnikendreef 3d
8300 Knokke-Heist · FlandreSee on map

Contributed capital

74 368,06 €

Latest accounts

31/12/2025

Average workforce

5,1 ETP

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	461,6 k €	+39.3%	331,3 k €	-23.4%	432,8 k €	-33.2%	648,1 k €	+91.3%	338,8 k €	-12.2%	386 k €	-10.8%	432,6 k €	-32.5%	641,2 k €	+15.6%	554,6 k €	-38.8%	905,8 k €	+82.6%	496,1 k €	-5.9%	526,9 k €	+12.2%	469,4 k €	+24.4%	377,2 k €	-1.6%	383,5 k €	-26.7%	522,8 k €	-11.0%	587,7 k €	+22.0%	481,9 k €	+19.4%	403,7 k €	-15.0%	475,1 k €
EBITDA	200,8 k €	+128%	87,9 k €	-43.7%	156,2 k €	-47.7%	298,4 k €	+241%	87,5 k €	-30.0%	125,1 k €	+39.1%	89,9 k €	-68.0%	280,9 k €	+48.1%	189,7 k €	-59.6%	470 k €	+134%	200,6 k €	-3.4%	207,7 k €	+5.7%	196,5 k €	+39.8%	140,6 k €	+7.9%	130,3 k €	-40.8%	220,2 k €	-4.9%	231,6 k €	+40.1%	165,3 k €	-3.4%	171,1 k €	-19.8%	213,2 k €
Operating result	178,9 k €	+182%	63,4 k €	-52.1%	132,5 k €	-51.2%	271,7 k €	+340%	61,8 k €	-26.4%	84 k €	+100%	41,9 k €	-79.3%	202,6 k €	+28.8%	157,3 k €	-51.6%	324,8 k €	+905%	32,3 k €	-28.0%	44,9 k €	+72.7%	26 k €	+230%	-20,1 k €	+73.4%	-75,4 k €	-233%	56,8 k €	-20.5%	71,4 k €	+1043%	6,2 k €	+108%	-79,6 k €	-184%	-28,1 k €
Net result	136,8 k €	+195%	46,3 k €	-51.6%	95,6 k €	-52.0%	199 k €	+357%	43,5 k €	-27.9%	60,3 k €	+123%	27,1 k €	-81.0%	142,5 k €	+36.1%	104,7 k €	-48.2%	202,1 k €	+892%	20,4 k €	-31.6%	29,8 k €	+1163%	2,4 k €	+105%	-45,7 k €	+54.3%	-100 k €	-463%	27,6 k €	+0.9%	27,3 k €	+163%	-43,1 k €	+66.0%	-126,8 k €	-85.3%	-68,5 k €
Balance sheet
Equity	682 k €	0.0%	682 k €	+7.3%	635,7 k €	+17.7%	540,1 k €	-0.8%	544,5 k €	+8.7%	501 k €	-7.3%	540,7 k €	+5.3%	513,6 k €	+38.4%	371,1 k €	+39.3%	266,4 k €	+314%	64,3 k €	+46.4%	43,9 k €	+211%	14,1 k €	+20.0%	11,8 k €	-79.5%	57,5 k €	-63.5%	157,5 k €	+21.2%	129,9 k €	+26.6%	102,6 k €	-29.6%	145,6 k €	+121%	-701,9 k €
Total assets	967,3 k €	+11.9%	864,2 k €	-2.1%	883 k €	-12.9%	1 M €	+8.9%	931,4 k €	+1.3%	919,4 k €	+0.7%	913,3 k €	+0.8%	906,4 k €	+86.1%	487,1 k €	+8.5%	449 k €	-5.5%	475,1 k €	-15.2%	560,3 k €	-26.9%	766,2 k €	-12.3%	873,4 k €	-13.6%	1 M €	+30.0%	777,6 k €	-14.2%	906,2 k €	-14.0%	1,1 M €	-17.8%	1,3 M €	+164%	486,4 k €
Cash	301,2 k €	+64.1%	183,6 k €	+88.0%	97,7 k €	-70.4%	330,3 k €	+93.3%	170,9 k €	-19.1%	211,1 k €	+20.4%	175,4 k €	+429%	33,2 k €	-91.5%	391,2 k €	+41.8%	275,8 k €	+186%	96,4 k €	+74.7%	55,2 k €	-29.1%	77,9 k €	+166%	29,3 k €	-57.0%	68 k €	+43.0%	47,6 k €	-20.8%	60,1 k €	-16.6%	72 k €	+65.3%	43,6 k €	-57.7%	103 k €
Debts	285,1 k €	+57.0%	181,6 k €	-14.4%	212,2 k €	-55.2%	473,7 k €	+22.6%	386,5 k €	-7.5%	418 k €	+12.2%	372,6 k €	-5.1%	392,8 k €	+336%	90 k €	-47.9%	172,8 k €	-56.6%	397,9 k €	-21.0%	503,5 k €	-31.3%	733,3 k €	-13.8%	851 k €	-10.1%	947,1 k €	+52.8%	620 k €	-20.1%	776,2 k €	-18.4%	951,3 k €	-16.3%	1,1 M €	-4.4%	1,2 M €
Other
Workforce	5,1 ETP	-10.5%	5,7 ETP	-1.7%	5,8 ETP	-3.3%	6,0 ETP	-3.2%	6,2 ETP	-1.6%	6,3 ETP	-13.7%	7,3 ETP	+30.4%	5,6 ETP	+1.8%	5,5 ETP	-9.8%	6,1 ETP	+1.7%	6,0 ETP	+15.4%	5,2 ETP	-1.9%	5,3 ETP	-1.9%	5,4 ETP	-3.6%	5,6 ETP	-3.4%	5,8 ETP	0.0%	5,8 ETP	+5.5%	5,5 ETP	+3.8%	5,3 ETP	-5.4%	5,6 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 · 2 active · 3 ended

Active mandates

Danny Bout

Director

Active

Nicole Witgeers

Director

Active

Ended mandates

Benjamin BOUT

Manager · until 26 mai 2009

Ended

Benjamin BOUT

Manager

Ended

Nicole WITGEERS

Manager

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	30/07/2026	28/08/2025	29/08/2024	31/08/2023	08/07/2022	23/07/2021
General meeting	26/05/2026	27/05/2025	28/05/2024	30/05/2023	14/06/2022	25/05/2021
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	26/05/2026	30/07/2026	Dutch	PDF
Abridged model	31/12/2024	27/05/2025	28/08/2025	Dutch	PDF
Abridged model	31/12/2023	28/05/2024	29/08/2024	Dutch	PDF
Abridged model	31/12/2022	30/05/2023	31/08/2023	Dutch	PDF
Abridged model	31/12/2021	14/06/2022	08/07/2022	Dutch	PDF
Abridged model	31/12/2020	25/05/2021	23/07/2021	Dutch	PDF
Abridged model	31/12/2019	29/06/2020	27/08/2020	Dutch	PDF
Abridged model	31/12/2018	28/05/2019	28/06/2019	Dutch	PDF
Abridged model	31/12/2017	29/05/2018	13/07/2018	Dutch	PDF
Abridged model	31/12/2016	30/05/2017	30/06/2017	Dutch	PDF
Abridged model	31/12/2015	31/05/2016	30/06/2016	Dutch	PDF
Abridged model	31/12/2014	26/05/2015	17/06/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	29/08/2014	Dutch	PDF
Abridged model	31/12/2012	28/05/2013	04/06/2013	Dutch	PDF
Abridged model	31/12/2011	29/05/2012	07/06/2012	Dutch	PDF
Abridged model	31/12/2010	31/05/2011	01/06/2011	Dutch	PDF
Abridged model	31/12/2009	29/06/2010	30/06/2010	Dutch	PDF
Abridged model	31/12/2008	26/05/2009	15/06/2009	Dutch	PDF
Abridged model	31/12/2007	27/05/2008	21/06/2008	Dutch	PDF
Abridged model	31/12/2006	29/05/2007	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 · 2 active · 3 ended

Active mandates

Danny Bout

Director

Active

Nicole Witgeers

Director

Active

Ended mandates

Benjamin BOUT

Manager · until 26 mai 2009

Ended

Benjamin BOUT

Manager

Ended

Nicole WITGEERS

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates04/09/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/09/2019
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Registered office25/03/2019
MAATSCHAPPELIJKE ZETEL
PDF
Mandates08/07/2009
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/01/2007
KAPITAAL - AANDELEN - 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 2025136,8 k €↑
2024
Annual accounts 202446,3 k €↓
2023
Annual accounts 202395,6 k €↓
2022
Annual accounts 2022199 k €↑
2021
Annual accounts 202143,5 k €↓
2020
Annual accounts 202060,3 k €↑
2019
Annual accounts 201927,1 k €↓
2018
Annual accounts 2018142,5 k €↑
2017
Annual accounts 2017104,7 k €↓
2016
Annual accounts 2016202,1 k €↑
2015
Annual accounts 201520,4 k €↓
2014
Annual accounts 201429,8 k €↑
2013
Annual accounts 20132,4 k €↑
2012
Annual accounts 2012-45,7 k €↑
2011
Annual accounts 2011-100 k €↓
2010
Annual accounts 201027,6 k €↑
2009
Annual accounts 200927,3 k €↑
2008
Annual accounts 2008-43,1 k €↑
2007
Annual accounts 2007-126,8 k €↓
2006
Annual accounts 2006-68,5 k €
30/12/1992
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

CAROLINE

Overview

What does CAROLINE do?

Trend over 20 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