BAERT G.E.
ActiveSummary
BAERT G.E. has been active since 2004 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.9m and a net result of €325,534. Equity has been growing by about 11% per year since 2019. Its solvency ranks better than 90% of 526 sector peers (NACE 42, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 04-05-2004 Normal situation
- Activity
- Construction of utility projects for electricity and telecommunications NACE 42220and 2 others
- Joint committees
- 124 Construction
- 200 Auxiliary committee for white-collar workers · annual accounts 30-09-2023
- Establishment unit
- 2.137.277.709 9170 Sint-Gillis-Waas, since 04-05-2004
- Financial year end
- 30 September
- Peppol
- Reachable
Board and ownership
- Baert ErikDirector · since 27-04-2004
- Baert GerardDirector · since 27-04-2004
- Dhondt BerlindaDirector · since 27-04-2004
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €1.7m
- ▲ 26.1%
- Turnover
- ≈ €2.9m
- estimated
- Profit
- €325,534
- ▲ 34.5%
- Equity
- €1.9m
- ▲ 13.4%
- Total assets
- €2.3m
- ▲ 2.0%
- Employees on 30-09-2025
- 22
- ▲ 10.0%
Score breakdownlowers riskLiquidity: current ratio 6.39, cash €1.1mEquity €1.9m (85.1% of total assets)Founded in 2004Profit of €325,534 (financial year 2025)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 42, small). It does better than 96% of them on solvency, 98% on liquidity, 82% on profitability and 59% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 51 days before the deadline. In the sector (NACE 42), the median for financial year 2024 was 2 days before the deadline, and 41% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 26-03-2026 PDF all 21 filings
Every figure per financial year
The operating result for 2025 is 31% higher than in 2024 and the highest since 2019. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 18 | 16 | 20 | 22 |
| full-time | 14 | 12 | 16 | 19 |
| part-time | 4 | 4 | 4 | 3 |
| in full-time equivalents | 17 | 15 | 19 | 21.2 |
| Average over the year, in full-time equivalents | 18.6 | 18 | 18.4 | 19.9 |
| On a permanent contract | 16 | 13 | 16 | 19 |
| Joined | 5 | 5 | 10 | 4 |
| Left | 5 | 7 | 6 | 2 |
| Training hours | - | 447 | 143 | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €166,960 | €97,983 | €116,074 | €75,405 |
| Carrying value of the other pledged assets | €164,308 | €115,708 | €67,108 | €18,508 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €48,103 | €52,672 | - | €44,940 |
| Depreciation and write-downs of the year | €121,784 | €117,196 | €116,661 | €108,447 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 6 entries · €4,362 awarded · €4,362 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €739 | €1,052 |
| 2024 | 1 | €638 | €325 |
| 2023 | 2 | €837 | €895 |
| 2022 | 2 | €2,148 | €2,090 |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.8m | €0.8m | €0.9m | €1.1m | ▲ 26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.09m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.003m | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.007m | €0.009m | €0.01m | €0.03m | ▲ 181% |
| Gross operating margin9900 | €1.1m | €1.1m | €1.2m | €1.4m | €1.3m | €1.3m | €1.7m | ▲ 26.1% |
| Operating profit (loss)9901 | €0.1m | €0.2m | €0.2m | €0.4m | €0.4m | €0.3m | €0.4m | ▲ 31.2% |
| Financial income75/76B | - | - | - | €0.03m | €0.03m | €0.02m | €0.05m | ▲ 90.4% |
| Recurring financial income75 | €0.01m | €0.02m | €0.02m | €0.03m | €0.03m | €0.02m | €0.05m | ▲ 90.4% |
| Financial charges65/66B | - | - | - | €0.006m | €0.007m | €0.006m | €0.01m | ▲ 84.0% |
| Recurring financial charges65 | €0.003m | €0.006m | €0.005m | €0.006m | €0.007m | €0.006m | €0.01m | ▲ 84.0% |
| Profit (loss) for the period before taxes9903 | €0.1m | €0.2m | €0.3m | €0.5m | €0.4m | €0.4m | €0.5m | ▲ 34.4% |
| Income taxes67/77 | €0.04m | €0.06m | €0.07m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 34.3% |
| Profit (loss) for the period9904 | €0.1m | €0.1m | €0.2m | €0.3m | €0.3m | €0.2m | €0.3m | ▲ 34.5% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.1m | €0.2m | €0.3m | €0.3m | €0.2m | €0.3m | ▲ 34.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.3m | €1.5m | €1.6m | €2.0m | €2.0m | €2.2m | €2.3m | ▲ 2.0% |
| Fixed assets21/28 | €0.3m | €0.2m | €0.4m | €0.4m | €0.3m | €0.2m | €0.1m | ▼ 35.6% |
| Tangible fixed assets22/27 | €0.3m | €0.2m | €0.4m | €0.4m | €0.3m | €0.2m | €0.1m | ▼ 35.7% |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.2m | €0.09m | €0.04m | ▼ 60.9% |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.1m | €0.07m | €0.07m | ▲ 2.7% |
| Other tangible fixed assets26 | - | - | - | €0.06m | €0.04m | €0.02m | €0.008m | ▼ 54.4% |
| Financial fixed assets28 | €120 | €120 | €120 | €120 | €120 | €120 | €120 | = |
| Current assets29/58 | €1.0m | €1.3m | €1.1m | €1.6m | €1.7m | €2.0m | €2.1m | ▲ 5.3% |
| Stocks and contracts in progress3 | €0.03m | €0.03m | €0.04m | €0.05m | €0.2m | €0.2m | €0.2m | ▲ 5.4% |
| Stocks30/36 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | ▲ 10.0% |
| Contracts in progress37 | - | - | - | €0.01m | €0.2m | €0.1m | €0.1m | ▲ 3.8% |
| Amounts receivable within one year40/41 | €0.6m | €0.4m | €0.5m | €0.6m | €0.5m | €0.8m | €0.8m | ▲ 1.4% |
| Trade receivables40 | - | - | - | €0.4m | €0.4m | €0.6m | €0.7m | ▲ 6.9% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.1m | €0.2m | €0.1m | ▼ 18.2% |
| Cash at bank and in hand54/58 | €0.4m | €0.8m | €0.5m | €0.9m | €1.0m | €1.0m | €1.1m | ▲ 7.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.05m | €0.04m | €0.02m | €0.04m | ▲ 76.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.3m | €1.5m | €1.6m | €2.0m | €2.0m | €2.2m | €2.3m | ▲ 2.0% |
| Equity10/15 | €1.0m | €0.8m | €1.0m | €1.3m | €1.5m | €1.7m | €1.9m | ▲ 13.4% |
| Contributions10/11 | €0.4m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Capital10 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Issued capital100 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Reserves13 | €0.6m | €0.8m | €1.0m | €1.3m | €1.5m | €1.6m | €1.9m | ▲ 13.9% |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.02m | ▼ 39.8% |
| Legal reserve130 | - | - | - | €0.03m | €0.03m | €0.03m | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €0 | €0.02m | - |
| Distributable reserves133 | - | - | - | €1.2m | €1.4m | €1.6m | €1.8m | ▲ 15.0% |
| Amounts payable17/49 | €0.3m | €0.7m | €0.5m | €0.6m | €0.5m | €0.5m | €0.3m | ▼ 35.2% |
| Amounts payable after more than one year17 | - | - | €0.1m | €0.1m | €0.06m | €0.02m | - | - |
| Financial debts170/4 | - | - | - | €0.1m | €0.06m | €0.02m | - | - |
| Amounts payable within one year42/48 | €0.3m | €0.7m | €0.4m | €0.5m | €0.4m | €0.5m | €0.3m | ▼ 32.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.07m | €0.08m | €0.1m | €0.08m | ▼ 23.8% |
| Trade debts44 | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.2m | ▼ 51.5% |
| Suppliers440/4 | - | - | - | €0.3m | €0.3m | €0.4m | €0.2m | ▼ 51.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.08m | €0.04m | €0.09m | ▲ 99.4% |
| Taxes450/3 | - | - | - | €0.1m | €0.05m | €0.01m | €0.05m | ▲ 312% |
| Remuneration and social security454/9 | - | - | - | €0.03m | €0.03m | €0.03m | €0.04m | ▲ 24.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €99,110 | €134,108 | €202,395 | €310,058 | €262,869 | €242,111 | €325,534 | ▲ 34.5% |
| + Depreciation and write-downs630 | €100,291 | €90,401 | €125,306 | €121,784 | €117,196 | €116,661 | €108,447 | ▼ 7.0% |
| Operating cash flow (approximation) | €199,401 | €224,509 | €327,701 | €431,842 | €380,065 | €358,772 | €433,981 | ▲ 21.0% |
| Investment in fixed assets (approximation) | - | -€78,673 | -€309,271 | -€48,103 | -€52,672 | €0 | -€44,940 | - |
| Change in cash | - | €395,378 | -€253,461 | €359,497 | €64,450 | €82,248 | €73,004 | ▼ 11.2% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 20,136 companies had the same profile as BAERT G.E. has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of BAERT G.E. itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 20,136 companies, not a prediction for BAERT G.E.. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 26-03-2026 | 2026-00064582 | |
| 30-09-2024 | abbreviated format | 06-03-2025 | 2025-00044537 | |
| 30-09-2023 | abbreviated format | 08-03-2024 | 2024-00040890 | |
| 30-09-2022 | abbreviated format | 10-03-2023 | 2023-00038057 | |
| 30-09-2021 | abbreviated format | 25-03-2022 | 2022-08800307 | |
| 30-09-2020 | abbreviated format | 23-02-2021 | 2021-05900393 | |
| 30-09-2019 | abbreviated format | 02-03-2020 | 2020-06200026 | |
| 30-09-2018 | abbreviated format | 29-03-2019 | 2019-08500103 | |
| 30-09-2017 | abbreviated format | 30-03-2018 | 2018-09100050 | |
| 30-09-2016 | abbreviated format | 13-03-2017 | 2017-06200281 |
Board & ownership
Directors
Owners and capital
Owners
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Baert Erik |
|
| Baert Gerard |
|
| Dhondt Berlinda |
|
Network & group
BAERT G.E. shares no director with another company.
Connections & network
3 current directorsThe network starts from the directors of BAERT G.E.. Every other company they run is a node.
Timeline
Deeds, filings and financial milestones
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0865.090.342
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Recognised contractor
5 categories- D4 Sound and heat insulation, light partitions, false ceilings and floorsclass 2, up to €330,000
- D8 Asphalt and similar roof coverings, waterproofingclass 3, up to €600,000
- D12 Non-metal, non-asphalt roof coveringsclass 4, up to €1,080,000
- D16 Sanitary installations and gas heating with individual appliancesclass 2, up to €330,000
- D22 Metal roofing and zinc workclass 2, up to €330,000
Dual-learning approval
1 live approval · 3 endedShow 3 ended approvals
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 46022A0093/00G000 | Flanders | 1,429 m² | 1 · 1,099 m² | 10.6 m · 2 |