ACTIVE

Cartel

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Financial year 2025 · closed on 31/03/2025
Net result
701,2 k €
+373.6% YoY
Gross margin
1,1 M €
+360.7% YoY
Equity
998,2 k €
+236.1% YoY
Workforce
0,9 ETP

What does Cartel do?

Cartel is a Private limited company incorporated in 2019. Its main activity is: Motion picture, video and television programme production activities. Its registered office is in Antwerpen. It employs on average 0,9 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0721.395.532
Incorporation
21/02/2019
Legal form
Private limited company
Registered office
Vlaamsekaai 35 box 3
2000 Antwerpen · FlandreSee on map
Contributed capital
18 600,00 €
Latest accounts
31/03/2025
Average workforce
0,9 ETP
Activities (NACE)
59111Motion picture, video and television programme production activities· main59111Motion picture, video and television programme production activities90012Performing arts90202Creative, arts and entertainment activities
Joint committees (1)
  • 3040
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 6 financial years

202520242023202220212020
Income statement
Gross margin1,1 M €244 k €149,3 k €111,7 k €-5,4 k €908,4 €
EBITDA1,1 M €203,1 k €103,8 k €82,7 k €-5,5 k €908,4 €
Operating result1,1 M €202 k €104,6 k €79,6 k €-6 k €250,2 €
Net result701,2 k €148,1 k €71,8 k €65,4 k €-7 k €148 €
Balance sheet
Equity998,2 k €297 k €148,9 k €77,1 k €11,7 k €18,7 k €
Total assets1,7 M €1,3 M €1,3 M €931,1 k €145,6 k €27 k €
Cash141,4 k €314,4 k €113,7 k €136,8 k €27,1 k €8,4 k €
Debts631,4 k €885,4 k €1,1 M €854 k €133,5 k €8,3 k €
Other
Workforce0,9 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 31/03/2025 · 1 active · 2 ended

Active mandates

Dimitrios Thivaios

Director

Active

Ended mandates

Dimitri Thivaios

Director · since 20 février 2019

Ended
Dimitri Thivaios

Manager · since 20 février 2019

Ended
At this address

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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelMicro modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/04/202401/04/202301/04/202201/04/202101/04/202020/02/2019
Closing of the financial year31/03/202531/03/202431/03/202331/03/202231/03/202131/03/2020
Length of the financial year12 months12 months12 months12 months12 months14 months
Filing date31/10/202502/01/202521/09/202302/11/202221/10/202113/10/2020
General meeting28/10/202520/09/202420/09/202320/09/202220/09/202121/09/2020
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

6 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/03/202528/10/202531/10/2025DutchPDF
Micro model31/03/202420/09/202402/01/2025DutchPDF
Micro model31/03/202320/09/202321/09/2023DutchPDF
Micro model31/03/202220/09/202202/11/2022DutchPDF
Micro model31/03/202120/09/202121/10/2021DutchPDF
Micro model31/03/202021/09/202013/10/2020DutchPDF
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 31/03/2025 · 1 active · 2 ended

Active mandates

Dimitrios Thivaios

Director

Active

Ended mandates

Dimitri Thivaios

Director · since 20 février 2019

Ended
Dimitri Thivaios

Manager · since 20 février 2019

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates05/05/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office26/04/2024
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates11/01/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office18/02/2021
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Other25/02/2019
    RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
    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

Timeline

  1. 2025
    Annual accounts 2025701,2 k €↑
  2. 2024
    Annual accounts 2024148,1 k €↑
  3. 2023
    Annual accounts 202371,8 k €↑
  4. 2022
    Annual accounts 202265,4 k €↑
  5. 2021
    Annual accounts 2021-7 k €↓
  6. 2020
    Annual accounts 2020148 €
  7. 21/02/2019
    IncorporationPrivate limited company