BARAT (0630.999.549): financials and annual accounts

BARAT

Uccle ·KBO/BCE: BE 0630.999.549

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Balance sheet: assets
Total assets`20/58`	2.0m	2.3m	1.3m	1.4m	1.3m	880,552	776,979	651,590	751,538	639,250	383,607
Fixed assets`21/28`	940,652	961,542	437,696	611,696	569,576	170,043	179,408	219,154	215,033	265,590	276,770
Intangible fixed assets`21`	49,443	56,110	-	-	-	-	-	-	-	-	-
Tangible fixed assets`22/27`	885,075	899,298	431,562	605,562	563,442	151,409	160,774	200,520	196,399	246,956	258,136
Land and buildings`22`	139,144	-	-	-	-	-	-	-	-	-	-
Plant, machinery and equipment`23`	497,876	625,017	431,562	605,562	562,822	150,169	155,276	183,490	170,935	210,579	210,846
Furniture and vehicles`24`	-	-	-	-	620	1,240	1,860	2,480	-	-	-
Leasing and similar rights`25`	218,786	274,281	-	-	-	-	-	-	-	-	-
Other tangible fixed assets`26`	29,269	-	-	-	-	-	-	-	-	-	-
Financial fixed assets`28`	6,134	6,134	6,134	6,134	6,134	18,634	18,634	18,634	18,634	18,634	18,634
Current assets`29/58`	1.0m	1.3m	889,011	834,084	764,485	710,509	597,571	432,436	536,505	373,661	106,837
Stocks and contracts in progress`3`	194,842	144,473	28,876	35,444	40,089	30,213	30,213	9,787	13,673	13,673	8,254
Stocks`30/36`	194,842	144,473	28,876	35,444	40,089	30,213	30,213	9,787	13,673	13,673	8,254
Amounts receivable within one year`40/41`	475,639	874,708	686,829	421,028	288,075	90,568	211,317	124,468	15,215	3,598	6,354
Trade receivables`40`	188,266	565,501	454,696	370,961	281,379	90,568	211,317	124,468	15,215	3,598	2,018
Other amounts receivable`41`	287,373	309,207	232,133	50,067	6,697	-	-	-	-	-	4,336
Cash at bank and in hand`54/58`	351,689	295,112	173,306	377,612	436,321	589,728	356,041	298,181	507,617	356,390	92,229
Deferred charges and accrued income`490/1`	4,003	6,973	-	-	-	-	-	-	-	-	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	2.0m	2.3m	1.3m	1.4m	1.3m	880,552	776,979	651,590	751,538	639,250	383,607
Equity`10/15`	542,402	453,014	710,014	618,647	610,327	450,001	346,475	324,384	253,865	140,293	-7,726
Contributions`10/11`	40,000	40,000	40,000	40,000	40,000	40,000	40,000	40,000	40,000	40,000	40,000
Capital`10`	-	-	40,000	40,000	40,000	40,000	-	-	-	-	-
Issued capital`100`	-	-	40,000	40,000	40,000	40,000	40,000	40,000	40,000	40,000	40,000
Reserves`13`	276,172	276,172	276,172	276,172	267,851	107,526	4,000	4,000	4,000	4,000	-
Non-distributable reserves`130/1`	4,000	4,000	4,000	4,000	4,000	4,000	-	-	-	-	-
Legal reserve`130`	-	-	4,000	4,000	4,000	4,000	4,000	4,000	4,000	4,000	-
Reserves not available under the articles`1311`	4,000	4,000	-	-	-	-	-	-	-	-	-
Distributable reserves`133`	272,172	272,172	272,172	272,172	263,851	103,526	-	-	-	-	-
Profit (loss) carried forward`14`	226,230	136,843	393,842	302,475	302,475	302,475	302,475	280,384	209,865	96,293	-47,726
Amounts payable`17/49`	1.4m	1.8m	616,693	827,133	723,735	430,550	430,504	327,206	497,673	498,958	391,333
Amounts payable after more than one year`17`	582,914	692,288	252,491	300,523	347,531	64,918	78,259	98,266	122,344	132,009	204,453
Financial debts`170/4`	582,914	692,288	252,491	300,523	347,531	64,918	78,259	98,266	122,344	132,009	204,453
Amounts payable within one year`42/48`	683,972	1.1m	364,202	526,610	376,203	365,632	343,943	228,940	375,329	366,948	186,880
Current portion of amounts payable after more than one year`42`	120,785	174,440	48,032	47,009	46,008	13,341	20,037	24,078	23,216	23,420	20,719
Financial debts`43`	-	63	5	11	-	-	-	-	-	-	-
Credit institutions`430/8`	-	63	5	11	-	-	-	-	-	-	-
Trade debts`44`	108,492	549,593	127,805	182,360	101,066	162,221	150,054	111,558	119,057	179,590	93,938
Suppliers`440/4`	108,492	549,593	127,805	182,360	101,066	162,221	150,054	111,558	119,057	179,590	93,938
Taxes, remuneration and social security`45`	335,765	412,073	188,361	297,231	221,042	150,156	81,955	53,284	54,201	37,127	6,289
Taxes`450/3`	126,429	235,267	57,965	113,005	168,487	80,909	24,076	12,099	17,584	17,013	2,110
Remuneration and social security`454/9`	209,336	176,807	130,396	184,226	52,555	69,247	57,879	41,185	36,618	20,114	4,179
Other amounts payable`47/48`	118,930	-	-	-	8,087	39,914	91,896	40,020	178,855	126,811	65,934
Accrued charges and deferred income`492/3`	157,537	1,337	-	-	-	-	8,302	-	-	-	-
Income statement
Non-recurring operating income`76A`	-	-	-	-	-	-	3,600	-	-	-	-
Gross operating margin`9900`	2.4m	1.5m	1.4m	1.2m	1.1m	709,249	407,963	370,104	322,976	302,945	13,560
Remuneration, social security and pensions`62`	1.6m	1.1m	989,479	913,535	656,336	373,285	249,813	156,387	99,005	78,038	23,691
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	344,697	222,211	209,908	229,339	167,560	75,924	91,236	80,938	59,934	62,051	34,584
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	244,159	52,106	-	-	-	-	-	-	-	-	-
Other operating charges`640/8`	22,764	12,344	1,283	-	6	300	-	-	247	-	-
Non-recurring operating charges`66A`	595	5,860	-	-	-	1,250	1,250	-	-	7,867	-
Operating profit (loss)`9901`	161,821	84,926	194,353	74,409	320,729	258,490	65,663	132,779	163,789	154,989	-44,715
Financial income`75/76B`	3,244	1,751	56	0	51	40	0	32	-	26	6
Recurring financial income`75`	3,244	1,751	56	0	51	40	0	32	-	26	6
Financial charges`65/66B`	60,256	26,422	6,472	7,786	6,771	3,062	3,568	5,319	5,148	6,990	3,015
Recurring financial charges`65`	60,256	26,422	6,472	7,786	6,771	3,062	3,568	5,319	5,148	6,990	3,015
Profit (loss) for the period before taxes`9903`	104,809	60,255	187,937	66,623	314,008	255,468	62,095	127,492	158,641	148,026	-47,725
Income taxes`67/77`	15,422	317,255	96,570	19,134	153,683	151,942	40,004	56,973	45,068	7	1
Profit (loss) for the period`9904`	89,387	-256,999	91,367	47,488	160,325	103,526	22,091	70,519	113,573	148,019	-47,726
Profit (loss) for the period to be appropriated`9905`	89,387	-256,999	91,367	47,488	160,325	103,526	22,091	70,519	113,573	148,019	-47,726
Appropriation of the result
Profit (loss) to be appropriated`9906`	226,230	136,843	393,842	349,964	462,800	406,001	302,475	280,384	209,865	100,293	-47,726
Profit (loss) brought forward from the previous period`14P`	136,843	393,842	302,475	302,475	302,475	302,475	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	47,488	160,325	103,526	-	-	-	4,000	-
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	4,000	-
To other reserves`6921`	-	-	-	47,488	160,325	103,526	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	31.7	24.2	20.6	22.7	17.7	9.3	7.2	5.9	4.8	3.9	1.3
Hours worked`1013`	53,908	38,017	34,745	36,525	28,401	15,899	12,220	9,991	8,373	7,280	2,202
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Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	31-08-2026	2026-00480841	PDF
31-12-2024	full format	25-08-2025	2025-00396308	PDF
31-12-2023	full format	30-08-2024	2024-00401921	PDF
31-12-2022	full format	31-05-2024	2024-00102545	PDF
31-12-2021	full format	31-05-2024	2024-00102541	PDF
31-12-2020	full format	14-09-2023	2023-00445830	PDF
31-12-2019	full format	28-11-2020	2020-74200578	PDF
31-12-2018	full format	05-06-2020	2020-17600544	PDF
31-12-2017	full format	05-06-2020	2020-17600543	PDF
31-12-2016	full format	26-11-2017	2017-70100154	PDF
31-12-2015	full format	26-11-2017	2017-70100153	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EBITDA	506,518	307,137	404,261	303,747	488,288	334,413	156,899	213,717	223,724	217,040	-10,131
Cash flow	434,084	-34,788	301,275	276,827	327,885	179,450	113,327	151,457	173,507	210,069	-13,142
Investment in fixed assets	324,000	746,057	27,908	234,675	580,093	66,559	51,490	85,060	9,378	50,870	311,354
Change in cash	56,577	121,807	-204,306	-58,709	-153,407	233,687	57,861	-209,436	151,227	264,161	-
Working capital	342,201	185,098	524,809	307,474	388,282	344,877	253,629	203,496	161,176	6,712	-80,043
Solvency	27.6%	19.8%	53.5%	42.8%	45.7%	51.1%	44.6%	49.8%	33.8%	21.9%	-2.0%
Current ratio	1.50	1.16	2.44	1.58	2.03	1.94	1.74	1.89	1.43	1.02	0.57
Quick ratio	1.22	1.04	2.36	1.52	1.93	1.86	1.65	1.85	1.39	0.98	0.53
Debt to equity	2.63	4.04	0.87	1.34	1.19	0.96	1.24	1.01	1.96	3.56	-
ROE	16.5%	-56.7%	12.9%	7.7%	26.3%	23.0%	6.4%	21.7%	44.7%	105.5%	-
ROA	4.5%	-11.3%	6.9%	3.3%	12.0%	11.8%	2.8%	10.8%	15.1%	23.2%	-12.4%
Interest coverage	8.41	11.62	62.46	39.01	72.12	over 100	-	-	-	-	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	37	34	24	24	28
full-time	27	26	17	21	16
part-time	10	8	7	3	12
in full-time equivalents	32	30	20.8	22.3	21
Average over the year, in full-time equivalents	31.7	24.2	20.6	22.7	17.7
On a permanent contract	33	13	14	19	12
Joined	387	-	16	-	38
Left	61	-	16	-	24

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€324,000	€686,057	€27,908	€234,675	€579,593
Intangible fixed assets	-	€60,000	-	-	-
Financial fixed assets	-	-	-	-	€500
Depreciation and write-downs of the year	€344,697	€222,211	€209,908	€229,339	€167,560

BARAT

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency27.6%

Current ratio1.50

Return on assets4.5%

Staff

Staff cost per FTE€50,899

Joined and left+326

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on BARAT

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