ACTIVE

CARTARGO

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Financial year 2025 · closed on 30/06/2025

Net result

513,4 k €

+3.0% YoY

Revenue

1,5 M €

+10.8% YoY

Equity

4 M €

+14.8% YoY

Workforce

3,8 ETP

+40.7% YoY

What does CARTARGO do?

CARTARGO is a Public limited company incorporated in 2000. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Beveren-Kruibeke-Zwijndrecht. It employs on average 3,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0472.042.877

Incorporation

05/06/2000

Legal form

Public limited company

Registered office

Oeverkant 38
2070 Beveren-Kruibeke-Zwijndrecht · FlandreSee on map

Contributed capital

198 000,00 €

Latest accounts

30/06/2025

Average workforce

3,8 ETP

Activities (NACE)

68201Rental and operating of own or leased real estate· main 68201Rental and operating of own or leased real estate 68321Management of real estate on a fee or contract basis 68322Management of real estate on a fee or contract basis

Joint committees (1)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	1,5 M €	+10.8%	1,3 M €	-1.0%	1,3 M €	-2.0%	1,4 M €		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	992,7 k €	+9.4%	907,2 k €	+0.3%	904,8 k €	-21.0%	1,1 M €	+319%	273,4 k €	-15.3%	322,9 k €	+28.3%	251,6 k €	-37.5%	402,9 k €	+48.3%	271,7 k €	-15.1%	320 k €	-16.4%	382,7 k €	+105%	186,3 k €	-30.9%	269,6 k €	-3.5%	279,3 k €	-18.3%	341,7 k €	+40.3%	243,5 k €
Operating result	728,9 k €	+2.0%	714,9 k €	-31.2%	1 M €	+24.9%	832,3 k €	+429%	157,2 k €	-21.4%	199,9 k €	+67.5%	119,4 k €	-58.6%	288,5 k €	+66.5%	173,3 k €	-20.4%	217,7 k €	+1.0%	215,6 k €	+927%	-26,1 k €	-124%	107,9 k €	-8.2%	117,6 k €	-35.5%	182,3 k €	+294%	-93,9 k €
Net result	513,4 k €	+3.0%	498,4 k €	-30.2%	713,6 k €	+30.3%	547,7 k €	+1706%	30,3 k €	-65.7%	88,5 k €	+399%	17,7 k €	-90.4%	185,1 k €	+237%	55 k €	-42.2%	95,2 k €	-12.9%	109,3 k €	+177%	-142,3 k €	-333%	-32,9 k €	-409%	-6,5 k €	-151%	12,6 k €	+107%	-188,4 k €
Balance sheet
Equity	4 M €	+14.8%	3,5 M €	+16.7%	3 M €	+31.5%	2,3 M €	+449%	412,7 k €	+7.9%	382,4 k €	+15.9%	329,9 k €	+5.7%	312,1 k €	+146%	127,1 k €	+76.3%	72,1 k €	+427%	-22,1 k €	+79.3%	-106,7 k €	-278%	60,1 k €	-49.1%	118 k €	+140%	49,1 k €	+34.4%	36,6 k €
Total assets	5,4 M €	+2.6%	5,2 M €	-4.0%	5,5 M €	-2.7%	5,6 M €	+20.9%	4,6 M €	+51.8%	3,1 M €	-3.1%	3,2 M €	+10.5%	2,9 M €	+4.9%	2,7 M €	-2.8%	2,8 M €	-8.6%	3,1 M €	-2.7%	3,1 M €	-5.9%	3,3 M €	-3.3%	3,5 M €	+0.8%	3,4 M €	+1.2%	3,4 M €
Cash	292 k €	+388%	59,8 k €	-63.7%	164,7 k €	-16.0%	195,9 k €	+151%	78,1 k €	-40.3%	130,8 k €	+5134%	2,5 k €	-69.4%	8,2 k €	+200%	2,7 k €	-87.8%	22,2 k €	+578%	3,3 k €	+209%	1,1 k €	-77.8%	4,8 k €	-48.2%	9,3 k €	-69.8%	30,7 k €	-57.2%	71,7 k €
Debts	1,3 M €	-23.1%	1,7 M €	-29.5%	2,4 M €	-16.3%	2,9 M €	-24.3%	3,8 M €	+68.6%	2,2 M €	-6.3%	2,4 M €	+8.2%	2,2 M €	-2.3%	2,3 M €	-5.2%	2,4 M €	-13.3%	2,8 M €	-5.8%	2,9 M €	-2.5%	3 M €	-3.3%	3,1 M €	-3.1%	3,2 M €	-0.8%	3,2 M €
Other
Workforce	3,8 ETP	+40.7%	2,7 ETP	-15.6%	3,2 ETP	+6.7%	3,0 ETP	+66.7%	1,8 ETP	+260%	0,5 ETP		–		–		–		–		0,3 ETP	-70.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	+900%	0,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 4 active · 11 ended

Active mandates

Helena Hertsens

Managing director

Active

Jeannine Verhelst

Managing director

Active

Liesbeth Hertsens

Director

Active

Werner Hertsens

Managing director

Active

Ended mandates

Jeannine Verhelst

Director · since 03 octobre 2018 · until 03 octobre 2024

Ended

Jeannine Verhelst

Managing director · since 03 octobre 2018 · until 03 octobre 2024

Ended

Liesbeth Hertsens

Director · since 03 octobre 2018 · until 03 octobre 2024

Ended

Werner Hertsens

Managing director · since 03 octobre 2018 · until 03 octobre 2024

Ended

At this address

Other companies at this address

Company	CBE no.
Groep Hertsens Burcht● Active	0662.928.979
HERTSENS INFRA● Active	0444.793.696
HERTSENS VERHUUR● Active	0441.458.876
NEOCONSTRUCT 1● Active	0897.212.980
NEOCONSTRUCT 2● Active	0464.994.640
NEOPROJECTS● Active	0761.959.645
OEVERTRANS● Active	0880.534.524
Société d'Entreposage et de Gestion● Liquidation	0404.699.539
TERNEO● Active	0761.960.239
TM Hertsens Infra - Dero Construct● Active	1003.253.875

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Abridged model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	08/01/2026	16/12/2024	15/11/2023	23/11/2022	21/01/2022	29/01/2021
General meeting	18/12/2025	21/11/2024	18/10/2023	10/11/2022	30/12/2021	31/12/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	30/06/2025	18/12/2025	08/01/2026	Dutch	PDF
Full model	30/06/2024	21/11/2024	16/12/2024	Dutch	PDF
Full model	30/06/2023	18/10/2023	15/11/2023	Dutch	PDF
Full model	30/06/2022	10/11/2022	23/11/2022	Dutch	PDF
Full model	30/06/2021	30/12/2021	21/01/2022	Dutch	PDF
Abridged model	30/06/2020	31/12/2020	29/01/2021	Dutch	PDF
Abridged model	30/06/2019	13/11/2019	04/12/2019	Dutch	PDF
Abridged model	30/06/2018	06/12/2018	14/12/2018	Dutch	PDF
Abridged model	30/06/2017	11/12/2017	21/12/2017	Dutch	PDF
Abridged model	30/06/2016	29/11/2016	07/12/2016	Dutch	PDF
Abridged model	30/06/2015	16/12/2015	13/01/2016	Dutch	PDF
Abridged model	30/06/2014	19/11/2014	27/11/2014	Dutch	PDF
Abridged model	30/06/2013	20/11/2013	20/12/2013	Dutch	PDF
Abridged model	30/06/2012	26/12/2012	22/01/2013	Dutch	PDF
Abridged model	30/06/2011	13/01/2012	13/02/2012	Dutch	PDF
Abridged model	30/06/2010	15/12/2010	12/01/2011	Dutch	PDF
Abridged model	30/06/2009	21/12/2009	23/12/2009	Dutch	PDF
Abridged model	30/06/2008	26/11/2008	23/12/2008	Dutch	PDF
Abridged model	30/06/2007	28/01/2008	30/01/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 30/06/2025 · 4 active · 11 ended

Active mandates

Helena Hertsens

Managing director

Active

Jeannine Verhelst

Managing director

Active

Liesbeth Hertsens

Director

Active

Werner Hertsens

Managing director

Active

Ended mandates

Jeannine Verhelst

Director · since 03 octobre 2018 · until 03 octobre 2024

Ended

Jeannine Verhelst

Managing director · since 03 octobre 2018 · until 03 octobre 2024

Ended

Liesbeth Hertsens

Director · since 03 octobre 2018 · until 03 octobre 2024

Ended

Werner Hertsens

Managing director · since 03 octobre 2018 · until 03 octobre 2024

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates01/02/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/06/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/12/2012
ONTSLAGEN - BENOEMINGEN
PDF
Registered office01/04/2008
MAATSCHAPPELIJKE ZETEL - DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates29/02/2008
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/09/2006
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares14/11/2005
ALGEMENE VERGADERING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 2025513,4 k €↑
2024
Annual accounts 2024498,4 k €↓
2023
Annual accounts 2023713,6 k €↑
2022
Annual accounts 2022547,7 k €↑
2018
Annual accounts 201830,3 k €↓
2017
Annual accounts 201788,5 k €↑
2016
Annual accounts 201617,7 k €↓
2015
Annual accounts 2015185,1 k €↑
2014
Annual accounts 201455 k €↓
2013
Annual accounts 201395,2 k €↓
2012
Annual accounts 2012109,3 k €↑
2011
Annual accounts 2011-142,3 k €↓
2010
Annual accounts 2010-32,9 k €↓
2009
Annual accounts 2009-6,5 k €↓
2008
Annual accounts 200812,6 k €↑
2007
Annual accounts 2007-188,4 k €
05/06/2000
IncorporationPublic 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

CARTARGO

Overview

What does CARTARGO do?

Trend over 16 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