ACTIVE

CARPAL

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Financial year 2025 · closed on 31/12/2025

Net result

601,8 k €

-9.9% YoY

Gross margin

1,5 M €

-0.9% YoY

Equity

7,9 M €

+8.2% YoY

Workforce

6,7 ETP

+3.1% YoY

What does CARPAL do?

CARPAL is a Public limited company incorporated in 2001. Its registered office is in Wevelgem. It employs on average 6,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0475.256.547

Incorporation

10/07/2001

Legal form

Public limited company

Registered office

Vliegveld 47
8560 Wevelgem · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

6,7 ETP

Joint committees (4)

125
12503
200
20000

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	1,5 M €	-0.9%	1,5 M €		–		–		–		1,5 M €	+23.2%	1,2 M €	+16.3%	1 M €	+0.3%	1 M €	+8.4%	947,5 k €	+4.3%	908,1 k €	+21.6%	746,9 k €	+5.2%	709,8 k €	+9.9%	645,6 k €	-1.2%	653,6 k €	-19.5%	812,3 k €	+36.1%	596,7 k €	+13.7%	524,8 k €
EBITDA	1,2 M €	-1.6%	1,2 M €	-51.6%	2,5 M €	-12.4%	2,8 M €	+143%	1,2 M €	+3.7%	1,1 M €	+25.3%	896,6 k €	+16.4%	770,1 k €	-4.1%	802,6 k €	+13.5%	707,2 k €	+17.8%	600,3 k €	+22.8%	488,7 k €	+4.5%	467,8 k €	+7.2%	436,2 k €	-5.9%	463,7 k €	-24.3%	612,7 k €	+46.7%	417,7 k €	+8.2%	386 k €
Operating result	994,5 k €	-2.1%	1 M €	-56.9%	2,4 M €	-14.0%	2,7 M €	+178%	983,7 k €	+41.1%	697,1 k €	+23.5%	564,4 k €	+3.0%	548,2 k €	+5.2%	521,1 k €	+5.5%	494 k €	+26.1%	391,8 k €	+30.9%	299,2 k €	+0.0%	299,1 k €	+28.5%	232,8 k €	-6.0%	247,7 k €	-34.2%	376,4 k €	+81.4%	207,5 k €	-11.8%	235,2 k €
Net result	601,8 k €	-9.9%	668 k €	-61.2%	1,7 M €	-12.9%	2 M €	+200%	659,2 k €	+55.4%	424,3 k €	+33.5%	317,8 k €	+13.9%	279,1 k €	-9.1%	307 k €	+1.8%	301,5 k €	+41.1%	213,7 k €	+12.4%	190,1 k €	+17.8%	161,4 k €	+20.0%	134,5 k €	-5.1%	141,8 k €	-31.5%	207 k €	+60.0%	129,3 k €	-0.1%	129,5 k €
Balance sheet
Equity	7,9 M €	+8.2%	7,3 M €	+3.0%	7,1 M €	+15.1%	6,2 M €	+47.1%	4,2 M €	+36.6%	3,1 M €	+16.7%	2,6 M €	+13.7%	2,3 M €	+13.7%	2 M €	+17.8%	1,7 M €	+15.8%	1,5 M €	+11.1%	1,3 M €	+10.3%	1,2 M €	+15.3%	1,1 M €	+14.6%	923 k €	+18.2%	781,2 k €	+36.1%	574,2 k €	+29.1%	444,8 k €
Total assets	9,1 M €	+2.1%	8,9 M €	+4.9%	8,5 M €	-5.9%	9 M €	+16.7%	7,8 M €	+12.1%	6,9 M €	+17.0%	5,9 M €	+16.6%	5,1 M €	+24.8%	4,1 M €	+17.3%	3,5 M €	+35.3%	2,6 M €	+3.2%	2,5 M €	+10.6%	2,2 M €	-8.6%	2,5 M €	+11.3%	2,2 M €	-4.6%	2,3 M €	+7.6%	2,1 M €	+18.4%	1,8 M €
Cash	250,8 k €	+68.3%	149,1 k €	-75.1%	599,5 k €	-17.5%	726,3 k €	+145%	296,8 k €	+86.3%	159,3 k €	+31.2%	121,4 k €	+58.4%	76,6 k €	-38.1%	123,9 k €	+472%	21,7 k €	-1.3%	22 k €	-31.8%	32,2 k €	+38.2%	23,3 k €	-40.9%	39,4 k €	-3.7%	41 k €	+2.0%	40,2 k €	+2957%	1,3 k €	-93.5%	20,3 k €
Debts	1,2 M €	-20.9%	1,5 M €	+7.5%	1,4 M €	-50.8%	2,9 M €	-19.3%	3,5 M €	-8.0%	3,8 M €	+17.2%	3,3 M €	+19.2%	2,8 M €	+35.8%	2 M €	+16.9%	1,7 M €	+62.4%	1,1 M €	-6.1%	1,1 M €	+11.1%	1 M €	-26.7%	1,4 M €	+9.1%	1,3 M €	-16.0%	1,5 M €	-2.6%	1,6 M €	+15.1%	1,4 M €
Other
Workforce	6,7 ETP	+3.1%	6,5 ETP	-1.5%	6,6 ETP	0.0%	6,6 ETP	-13.2%	7,6 ETP	-2.6%	7,8 ETP	+1.3%	7,7 ETP	+45.3%	5,3 ETP	-3.6%	5,5 ETP	0.0%	5,5 ETP	+19.6%	4,6 ETP	0.0%	4,6 ETP	-16.4%	5,5 ETP	+19.6%	4,6 ETP	+12.2%	4,1 ETP	-12.8%	4,7 ETP	+2.2%	4,6 ETP	+17.9%	3,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 6 ended

Active mandates

Caroline Vanbeylen

Director · since 06 juin 2024 · until 26 juin 2029

Active

Peter Carbonez

Director · since 06 juin 2024 · until 26 juin 2029

Active

Ended mandates

Caroline Vanbeylen

Director · since 24 juillet 2020 · until 30 juin 2026

Ended

Peter Carbonez

Managing director · since 24 juillet 2020 · until 30 juin 2026

Ended

Caroline Vanbeylen

Director · since 23 septembre 2014 · until 30 juin 2020

Ended

Peter Carbonez

Managing director · since 23 septembre 2014 · until 30 juin 2020

Ended

At this address

Other companies at this address

Company	CBE no.
PCS IMMO● Active	0759.567.210

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged 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	01/06/2026	22/05/2025	17/06/2024	08/06/2023	25/04/2022	24/08/2021
General meeting	07/05/2026	23/04/2025	14/05/2024	09/05/2023	23/03/2022	11/08/2021
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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	07/05/2026	01/06/2026	Dutch	PDF
Abridged model	31/12/2024	23/04/2025	22/05/2025	Dutch	PDF
Full model	31/12/2023	14/05/2024	17/06/2024	Dutch	PDF
Full model	31/12/2022	09/05/2023	08/06/2023	Dutch	PDF
Full model	31/12/2021	23/03/2022	25/04/2022	Dutch	PDF
Full model	31/12/2020	11/08/2021	24/08/2021	Dutch	PDF
Full modelCorrection	31/12/2019	16/11/2020	17/11/2020	Dutch	PDF
Full model	31/12/2019	24/07/2020	31/07/2020	Dutch	PDF
Abridged model	31/12/2018	25/06/2019	31/07/2019	Dutch	PDF
Abridged model	31/12/2017	26/06/2018	23/08/2018	Dutch	PDF
Abridged model	31/12/2016	29/08/2017	29/09/2017	Dutch	PDF
Abridged model	31/12/2015	27/09/2016	28/10/2016	Dutch	PDF
Abridged model	31/12/2014	29/09/2015	28/10/2015	Dutch	PDF
Abridged model	31/12/2013	23/09/2014	30/09/2014	Dutch	PDF
Abridged model	31/12/2012	31/10/2013	29/11/2013	Dutch	PDF
Abridged model	31/12/2011	26/12/2012	31/12/2012	Dutch	PDF
Abridged model	31/12/2010	24/01/2012	22/02/2012	Dutch	PDF
Abridged model	31/12/2009	29/06/2010	17/02/2011	Dutch	PDF
Abridged modelCorrection	31/12/2008	30/06/2009	17/02/2011	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	29/01/2010	Dutch	PDF
Abridged model	31/12/2007	24/06/2008	08/12/2008	Dutch	PDF
Abridged model	31/12/2006	26/06/2007	02/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 6 ended

Active mandates

Caroline Vanbeylen

Director · since 06 juin 2024 · until 26 juin 2029

Active

Peter Carbonez

Director · since 06 juin 2024 · until 26 juin 2029

Active

Ended mandates

Caroline Vanbeylen

Director · since 24 juillet 2020 · until 30 juin 2026

Ended

Peter Carbonez

Managing director · since 24 juillet 2020 · until 30 juin 2026

Ended

Caroline Vanbeylen

Director · since 23 septembre 2014 · until 30 juin 2020

Ended

Peter Carbonez

Managing director · since 23 septembre 2014 · until 30 juin 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other26/09/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates25/08/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/01/2015
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares13/01/2012
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates03/04/2008
ONTSLAGEN - BENOEMINGEN
PDF
Registered office26/05/2003
MAATSCHAPPELIJKE ZETEL
PDF
Other25/11/2002
DIVERSEN
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 2025601,8 k €↓
2024
Annual accounts 2024668 k €↓
2023
Annual accounts 20231,7 M €↓
2022
Annual accounts 20222 M €↑
2021
Annual accounts 2021659,2 k €↑
2018
Annual accounts 2018424,3 k €↑
2017
Annual accounts 2017317,8 k €↑
2016
Annual accounts 2016279,1 k €↓
2015
Annual accounts 2015307 k €↑
2014
Annual accounts 2014301,5 k €↑
2013
Annual accounts 2013213,7 k €↑
2012
Annual accounts 2012190,1 k €↑
2011
Annual accounts 2011161,4 k €↑
2010
Annual accounts 2010134,5 k €↓
2009
Annual accounts 2009141,8 k €↓
2008
Annual accounts 2008207 k €↑
2007
Annual accounts 2007129,3 k €↓
2006
Annual accounts 2006129,5 k €
10/07/2001
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

CARPAL

Overview

What does CARPAL 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