ACTIVE

CARBOR

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Financial year 2026 · closed on 31/03/2026

Net result

481,8 k €

+57.0% YoY

Revenue

760 k €

+2.2% YoY

Equity

3,6 M €

+15.6% YoY

What does CARBOR do?

CARBOR is a Private limited company incorporated in 2004. Its main activity is: Management consultancy activities. Its registered office is in Namur.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0864.569.512

Incorporation

07/04/2004

Legal form

Private limited company

Registered office

Avenue de l'Ermitage 16
5000 Namur · WallonieSee on map

Contributed capital

1 727 359,00 €

Latest accounts

31/03/2026

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2026		2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	760 k €	+2.2%	743,9 k €	+13.7%	654,5 k €	+16.1%	563,7 k €	-7.8%	611,1 k €	+9.3%	559,3 k €	+41.4%	395,6 k €	+3.3%	383 k €	-5.6%	405,9 k €	+8.7%	373,4 k €	-9.9%	414,6 k €	+0.3%	413,2 k €	+1.1%	408,6 k €	+1.6%	402 k €	+14.5%	351,1 k €	+19.1%	294,9 k €	+1.3%	291 k €	+0.1%	290,7 k €	+7.4%	270,8 k €	+11.4%	243 k €
EBITDA	757,5 k €	+1.8%	744 k €	+10.6%	672,9 k €	+16.3%	578,4 k €	-7.0%	621,8 k €	+9.9%	565,7 k €	+40.1%	403,9 k €	+1.8%	396,6 k €	-12.5%	453,2 k €	+11.4%	407 k €	+7.9%	377,3 k €	+1.4%	372,1 k €	+0.8%	369,1 k €	+2.9%	358,8 k €	+15.0%	312 k €	+39.0%	224,4 k €	-7.3%	242,2 k €	+2.2%	237 k €	+16.4%	203,5 k €	+8.1%	188,3 k €
Operating result	757,5 k €	+1.8%	744 k €	+10.6%	672,9 k €	+16.3%	578,4 k €	-7.0%	621,8 k €	+11.7%	556,9 k €	+40.9%	395,1 k €	+1.9%	387,8 k €	-12.7%	444,5 k €	+11.5%	398,5 k €	+8.2%	368,3 k €	+26.0%	292,2 k €	-20.7%	368,6 k €	+4.7%	352,1 k €	+15.3%	305,3 k €	+40.2%	217,7 k €	-2.7%	223,8 k €	+1.9%	219,7 k €	+22.3%	179,7 k €	-1.8%	183,1 k €
Net result	481,8 k €	+57.0%	307 k €	+147%	124,1 k €	-50.4%	250,2 k €	-29.7%	355,7 k €	+33.0%	267,4 k €	+131%	115,5 k €	+14.4%	101 k €	+122%	45,4 k €	-61.5%	117,9 k €	-3.5%	122,1 k €	+217%	38,6 k €	-66.1%	113,7 k €	+46.8%	77,4 k €	+0.2%	77,3 k €	+188%	-87,4 k €	-256%	56 k €	-26.0%	75,6 k €	-22.2%	97,2 k €	-22.3%	125,2 k €
Balance sheet
Equity	3,6 M €	+15.6%	3,1 M €	+11.1%	2,8 M €	-6.0%	2,9 M €	-1.7%	3 M €	+1.9%	2,9 M €	+4.2%	2,8 M €	+4.3%	2,7 M €	+3.9%	2,6 M €	+1.8%	2,6 M €	+4.8%	2,4 M €	+5.3%	2,3 M €	+1.7%	2,3 M €	+5.2%	2,2 M €	+3.7%	2,1 M €	+3.8%	2 M €	-4.2%	2,1 M €	+2.7%	2 M €	+3.8%	2 M €	+743%	234,1 k €
Total assets	7,8 M €	+6.8%	7,3 M €	+2.6%	7,1 M €	+0.4%	7,1 M €	+1.3%	7 M €	+2.8%	6,8 M €	+3.4%	6,5 M €	+2.0%	6,4 M €	+2.2%	6,3 M €	+2.3%	6,1 M €	+1.8%	6 M €	+1.4%	6 M €	+0.2%	5,9 M €	+2.0%	5,8 M €	+2.0%	5,7 M €	+1.8%	5,6 M €	-1.9%	5,7 M €	+1.1%	5,7 M €	+1.3%	5,6 M €	+2212%	241,7 k €
Cash	79,1 k €	+311%	19,3 k €	-54.3%	42,2 k €	-91.8%	515,4 k €	+22.7%	420,1 k €	+47.1%	285,6 k €	+322%	67,6 k €	+7951%	840 €	-98.5%	55,7 k €	+402%	11,1 k €	+2445%	436 €	-98.3%	25,9 k €	-50.6%	52,3 k €	+249%	15 k €	-61.0%	38,5 k €	-3.9%	40,1 k €	+6320%	624 €	-96.7%	19 k €	+2151%	846 €	-91.5%	10 k €
Debts	320,1 k €	-5.7%	339,5 k €	-30.6%	489,1 k €	+0.2%	488 k €	-0.3%	489,8 k €	+41.6%	345,9 k €	+77.9%	194,4 k €	+3.3%	188,2 k €	+5.9%	177,7 k €	-17.4%	215,1 k €	-3.2%	222,1 k €	-1.9%	226,5 k €	-16.8%	272,1 k €	-2.1%	277,9 k €	-7.4%	300 k €	-9.9%	333 k €	-2.5%	341,4 k €	-6.1%	363,6 k €	-2.9%	374,4 k €	+4876%	7,5 k €

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 31/03/2026 · 1 active · 1 ended

Active mandates

Jean-Michel CARLIER

Mandate

Active

Ended mandates

Jean-Michel CARLIER

Manager · since 30 avril 2004

Ended

At this address

Other companies at this address

Company	CBE no.
TILIAC● Active	0466.995.909

Annual accounts

Full financial information

	2026	2025	2024	2023	2022	2021
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Full model
Start of the financial year	01/04/2025	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020
Closing of the financial year	31/03/2026	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	01/07/2026	17/07/2025	05/07/2024	20/06/2023	08/07/2022	27/06/2021
General meeting	19/06/2026	20/06/2025	21/06/2024	16/06/2023	17/06/2022	18/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/03/2026	19/06/2026	01/07/2026	French	PDF
Abridged model	31/03/2025	20/06/2025	17/07/2025	French	PDF
Abridged model	31/03/2024	21/06/2024	05/07/2024	French	PDF
Abridged model	31/03/2023	16/06/2023	20/06/2023	French	PDF
Abridged model	31/03/2022	17/06/2022	08/07/2022	French	PDF
Full model	31/03/2021	18/06/2021	27/06/2021	French	PDF
Full model	31/03/2020	19/06/2020	02/07/2020	French	PDF
Full model	31/03/2019	21/06/2019	14/07/2019	French	PDF
Full model	31/03/2018	15/06/2018	25/06/2018	French	PDF
Full model	31/03/2017	16/06/2017	19/06/2017	French	PDF
Full model	31/03/2016	17/06/2016	20/06/2016	French	PDF
Full model	31/03/2015	19/06/2015	22/06/2015	French	PDF
Full model	31/03/2014	20/06/2014	10/07/2014	French	PDF
Full model	31/03/2013	21/06/2013	24/06/2013	French	PDF
Full model	31/03/2012	15/06/2012	29/06/2012	French	PDF
Full model	31/03/2011	17/06/2011	09/12/2011	French	PDF
Full model	31/03/2010	18/06/2010	22/06/2010	French	PDF
Full model	31/03/2009	19/06/2009	10/09/2009	French	PDF
Full model	31/03/2008	20/06/2008	06/10/2008	French	PDF
Abridged model	31/03/2007	15/06/2007	18/06/2007	French	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 31/03/2026 · 1 active · 1 ended

Active mandates

Jean-Michel CARLIER

Mandate

Active

Ended mandates

Jean-Michel CARLIER

Manager · since 30 avril 2004

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/04/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Capital / shares17/12/2007
CAPITAL, ACTIONS - ASSEMBLEE GENERALE - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Other20/04/2004
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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

2026
Annual accounts 2026481,8 k €↑
2025
Annual accounts 2025307 k €↑
2024
Annual accounts 2024124,1 k €↓
2023
Annual accounts 2023250,2 k €↓
2022
Annual accounts 2022355,7 k €↑
2021
Annual accounts 2021267,4 k €↑
2020
Annual accounts 2020115,5 k €↑
2019
Annual accounts 2019101 k €↑
2018
Annual accounts 201845,4 k €↓
2017
Annual accounts 2017117,9 k €↓
2016
Annual accounts 2016122,1 k €↑
2015
Annual accounts 201538,6 k €↓
2014
Annual accounts 2014113,7 k €↑
2013
Annual accounts 201377,4 k €↑
2012
Annual accounts 201277,3 k €↑
2011
Annual accounts 2011-87,4 k €↓
2010
Annual accounts 201056 k €↓
2009
Annual accounts 200975,6 k €↓
2008
Annual accounts 200897,2 k €↓
2007
Annual accounts 2007125,2 k €
07/04/2004
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

CARBOR

Overview

What does CARBOR do?

Trend over 20 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