BARTHE
ActiveSummary
BARTHE has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €583,830 and a net result of -€88,682. Equity has been stable since 2018 (±2.3% per year). Its solvency ranks better than 18% of 5,039 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 09-06-2008 Normal situation
- Activity
- Non-specialised retail sale with food, beverages or tobacco predominating NACE 47110and 3 others
- Establishment unit
- 2.173.704.078 5330 Assesse, since 09-06-2008
- Financial year end
- 31 December
- Peppol
- Reachable since 12-12-2025
Board and ownership
Board
- BA RETAILManaging director · permanent representative BUTTIENS Anne Marie Josée Georgette
- JB MGMTDirector · since 18-10-2021 · permanent representative JONET Benoît Joseph Roger Marcel
- DESTEXHE Marie Paule PhinaDirector · since 18-12-2023
Shareholders
- David BARTHELEMY99.98%annual accounts 2020
- BA RETAIL99%2025 annual accounts of BA RETAIL
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.5%
Annual accounts 2025
- Gross margin
- €1.9m
- ▲ 75.3%
- Turnover
- ≈ €13.0m
- estimated
- Loss
- €88,682
- Equity
- €583,830
- ▼ 13.2%
- Total assets
- €8.8m
- ▲ 151%
- Employees on 31-12-2025
- 42
- ▲ 133%
- 2025 accounts filed 31 days after the deadline
Score breakdownraises riskLiquidity: current ratio 0.99, cash €167,966, halvedEquity €583,830 (6.7% of total assets)Last filed accounts filed 31 days late; 3 of the last 3 accounts latelowers riskFounded in 2008Show the evidence
Checked score
Score 2025
62
/ 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially stronger than 26% of small companies in retail trade (NACE 47)
Financial strength · tick: 2024
Weak
Solvency
32-12
equity 6.7% of total assets
Liquidity
38+1
short-term debt 32.5% · cash 1.9%
Profitability
42-26
return on assets -1.0%
Bankruptcy probability within 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.6%
01-2025: 0.6%● unchanged vs 12-2024
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.6%● unchanged vs 03-2025
05-2025: 0.6%● unchanged vs 04-2025
06-2025: 0.6%● unchanged vs 05-2025
07-2025: 0.8%▲ +0.2 percentage points vs 06-2025
08-2025: 1.2%▲ +0.4 percentage points vs 07-2025
09-2025: 1.4%▲ +0.2 percentage points vs 08-2025
10-2025: 0.5%▼ -0.9 percentage points vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025lowest value
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.6%▲ +0.1 percentage points vs 02-2026
04-2026: 0.6%● unchanged vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.7%▲ +0.1 percentage points vs 06-2026
08-2026: 1.3%▲ +0.6 percentage points vs 07-2026
09-2026: 1.5%▲ +0.2 percentage points vs 08-2026highest value
10-2026: 1.5%● unchanged vs 09-2026highest value
11-2026: 1.5%● unchanged vs 10-2026highest value
Credit of up to €35,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.99 (0.96 in 2024), below 1. Short-term debt is 32.5% and cash 1.9% of total assets. 93.3% of the assets are financed with debt and provisions.
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 47, small). It does better than 18% of them on solvency, 42% on liquidity, 25% on profitability and 20% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 5039 sector peers (2025).
NBB · sector comparisonPosition among 5039 sector peers
Solvency
better than 18%
← weakest
strongest →
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
31 days late
2024
31 days late
2023
31 days late
2022
5 days early
2021
30 days late
2020
30 days late
2019
31 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 26 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00456292.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 17 filings
Turnover
≈ €13.0m
Estimated: probably between €7.7m and €15.0m
EBIT margin
Not included in this filing
Net result
-€88,682
2024 · €28,316
Working capital
-€16,621▲ 75.8%
2024 · -€68,567
In the rankings
#1 company by total assets in Assesse, Wholesale and retail trade sector#2 employer in Assesse#6 company by staff growth in the province of Namur, Retail trade sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€97,099
▼ 8.0%
2025
20182025
Net result
-€88,682
2025
lowest quarter of the sector
20182025
Equity
€583,830
▼ 13.2%
2025
middle half of the sector
20182025
Total assets
€8.8m
▲ 151%
2025
highest quarter of the sector
20182025
Debt
€8.2m
▲ 190%
2025
20182025
Working capital
-€16,621
▲ 75.8%
2025
lowest quarter of the sector
20182025
Solvency
6.7%
▼ 12.6pp
2025
lowest quarter of the sector
20182025
Current ratio
0.99
▲ 0.03
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-1.0%
▼ 1.8pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
30.9
▲ 66.1%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.1m-€0.1m▲ 1.1%€0.3m▲ 130%€0.1m▼ 69.0%€0.09m▼ 6.9%€0.05m▼ 45.9%€0.1m▲ 118%€0.1m▼ 8.0%
Net result€0.1m-€0.05m▼ 63.3%€0.2mabove the sector's middle half▲ 300%€0.04mwithin the sector's middle half▼ 80.7%€0.02mwithin the sector's middle half▼ 40.3%-€0.03mbelow the sector's middle half€0.03mwithin the sector's middle half-€0.09mbelow the sector's middle half
Equity€0.6m-€0.6m▼ 1.5%€0.6mwithin the sector's middle half▲ 8.3%€0.7mwithin the sector's middle half▲ 6.2%€0.7mwithin the sector's middle half▲ 3.5%€0.6mwithin the sector's middle half▼ 4.6%€0.7mwithin the sector's middle half▲ 4.4%€0.6mwithin the sector's middle half▼ 13.2%
Total assets€1.2m-€1.8m▲ 45.4%€1.7mwithin the sector's middle half▼ 5.0%€1.7mwithin the sector's middle half▲ 0.8%€1.7mwithin the sector's middle half▲ 0.3%€1.9mwithin the sector's middle half▲ 11.7%€3.5mabove the sector's middle half▲ 84.6%€8.8mabove the sector's middle half▲ 151%
Debt€0.6m-€1.2m▲ 87.8%€1.1m▼ 11.2%€1.0m▼ 2.3%€1.0m▼ 1.7%€1.3m▲ 22.4%€2.8m▲ 126%€8.2m▲ 190%
Working capital-€0.6m--€0.09m▲ 85.9%-€0.09mbelow the sector's middle half▼ 2.4%-€0.09mbelow the sector's middle half▼ 3.8%-€0.08mbelow the sector's middle half▲ 9.4%-€0.03mbelow the sector's middle half▲ 68.3%-€0.07mbelow the sector's middle half▼ 155%-€0.02mbelow the sector's middle half▲ 75.8%
Solvency47.5%-32.2%▼ 15.3pp36.6%within the sector's middle half▲ 4.5pp38.6%within the sector's middle half▲ 1.9pp39.8%within the sector's middle half▲ 1.2pp34.0%within the sector's middle half▼ 5.8pp19.2%within the sector's middle half▼ 14.8pp6.7%below the sector's middle half▼ 12.6pp
Current ratio0.02-0.88▲ 0.860.88below the sector's middle half=0.89below the sector's middle half▲ 0.010.91below the sector's middle half▲ 0.020.98below the sector's middle half▲ 0.070.96below the sector's middle half▼ 0.010.99below the sector's middle half▲ 0.03
Return on assets (ROA)11.1%-2.8%▼ 8.3pp11.7%above the sector's middle half▲ 9.0pp2.2%within the sector's middle half▼ 9.5pp1.3%within the sector's middle half▼ 0.9pp-1.6%below the sector's middle half▼ 3.0pp0.8%within the sector's middle half▲ 2.4pp-1.0%below the sector's middle half▼ 1.8pp
Staff (FTE)0.1-14▲ 140×15.9above the sector's middle half▲ 13.6%18.2above the sector's middle half▲ 14.5%17.9above the sector's middle half▼ 1.6%19above the sector's middle half▲ 6.1%18.6above the sector's middle half▼ 2.1%30.9above the sector's middle half▲ 66.1%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 8% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.7m
Fixed assets
€5.9m ▲ 246%
Current assets
€2.8m ▲ 58.5%
Equity and liabilities €8.8m
Equity
€583,830 ▼ 13.2%
Debt
€8.2m ▲ 190%
Debt's share of the balance-sheet total rises from 80.8% to 93.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€700,329▲
2024 · €370,324
Cash flow
€514,548▲
2024 · €293,064
Quick ratio
0.68▼
2024 · 0.75
Debt to equity
14.03▲
2024 · 4.20
ROE
-15.2%▼
2024 · 4.2%
Interest coverage
2.93▼
2024 · 5.84
Debt ≤ 1 year
€2.8m▲
2024 · €1.9m
Debt > 1 year
€5.2m▲
2024 · €970,050
Income taxes
€774▼
2024 · €20,683
Staff costs
€1.1m▲
2024 · €659,095
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 19 | 19 | 20 | 18 | 42 |
| full-time | 9 | 13 | 15 | 12 | 35 |
| part-time | 10 | 6 | 5 | 6 | 7 |
| in full-time equivalents | 16.5 | 17.9 | 19 | 16.9 | 40.7 |
| Average over the year, in full-time equivalents | 18.2 | 16.1 | 18.8 | 18.6 | 30.9 |
| On a permanent contract | 18 | 16 | 17 | 13 | 32 |
| Joined | 9 | 25 | 68 | 115 | 70 |
| Left | 10 | 24 | 68 | 117 | 46 |
| Training hours | 11 | 20 | 11 | 989 | 592 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €141,579 | - | - | - | - |
| Pledge on the business | €150,000 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €128,237 | €85,304 | €10,846 | €1.2m | €4.7m |
| Financial fixed assets | €13,895 | - | €9,000 | - | - |
| Depreciation and write-downs of the year | €203,530 | €205,194 | €220,159 | €264,748 | €603,230 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.001m | €0.003m | €0.01m | €0.02m | €0.2m | ▲ 631% |
| Remuneration, social security and pensions62 | - | - | - | €0.6m | €0.7m | €0.7m | €0.7m | €1.1m | ▲ 66.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.6m | ▲ 128% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €0.007m | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.03m | €0.02m | €0.02m | €0.04m | €0.06m | ▲ 30.2% |
| Non-recurring operating charges66A | - | - | - | €0.009m | €0.002m | €318 | €416 | €0.03m | ▲ 67× |
| Gross operating margin9900 | €0.1m | €0.8m | €1.1m | €1.0m | €1.0m | €1.0m | €1.1m | €1.9m | ▲ 75.3% |
| Operating profit (loss)9901 | €0.1m | €0.1m | €0.3m | €0.1m | €0.09m | €0.05m | €0.1m | €0.1m | ▼ 8.0% |
| Financial income75/76B | - | - | - | €0.05m | €0.02m | €0.01m | €0.02m | €0.06m | ▲ 144% |
| Recurring financial income75 | €0.06m | €0.01m | €0.01m | €0.03m | €0.01m | €0.01m | €0.02m | €0.05m | ▲ 101% |
| Non-recurring financial income76B | - | - | - | €0.02m | €0.01m | €400 | - | €0.01m | - |
| Financial charges65/66B | - | - | - | €0.06m | €0.05m | €0.06m | €0.08m | €0.2m | ▲ 203% |
| Recurring financial charges65 | €0.02m | €0.06m | €0.05m | €0.06m | €0.04m | €0.05m | €0.06m | €0.2m | ▲ 277% |
| Non-recurring financial charges66B | - | - | - | €0.002m | €0.005m | €0.007m | €0.02m | €0.003m | ▼ 83.1% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.1m | €0.3m | €0.08m | €0.06m | -€0.002m | €0.05m | -€0.09m | - |
| Income taxes67/77 | €0.03m | €0.05m | €0.09m | €0.04m | €0.04m | €0.03m | €0.02m | €0.001m | ▼ 96.3% |
| Profit (loss) for the period9904 | €0.1m | €0.05m | €0.2m | €0.04m | €0.02m | -€0.03m | €0.03m | -€0.09m | - |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.05m | €0.2m | €0.04m | €0.02m | -€0.03m | €0.03m | -€0.09m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.2m | €1.8m | €1.7m | €1.7m | €1.7m | €1.9m | €3.5m | €8.8m | ▲ 151% |
| Formation expenses20 | - | - | - | €0.003m | €0.03m | €0.02m | €0.009m | €0.04m | ▲ 395% |
| Fixed assets21/28 | €1.2m | €1.1m | €1.0m | €0.9m | €0.8m | €0.7m | €1.7m | €5.9m | ▲ 246% |
| Intangible fixed assets21 | - | €0.9m | €0.8m | €0.7m | €0.6m | €0.5m | €0.4m | €0.3m | ▼ 25.0% |
| Tangible fixed assets22/27 | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €1.3m | €5.6m | ▲ 332% |
| Land and buildings22 | - | - | - | - | - | €0.02m | €1.1m | €3.1m | ▲ 189% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.1m | €0.1m | €0.08m | €2.1m | ▲ 26× |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.06m | €0.05m | €0.1m | €0.4m | ▲ 178% |
| Leasing and similar rights25 | - | - | - | €0.05m | - | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | €0.01m | €0.009m | €0.005m | €0.003m | €0.001m | ▼ 73.1% |
| Financial fixed assets28 | €1.2m | €0.006m | €0.01m | €0.02m | €0.02m | €0.03m | €0.01m | €0.01m | = |
| Current assets29/58 | €0.01m | €0.6m | €0.6m | €0.8m | €0.9m | €1.2m | €1.8m | €2.8m | ▲ 58.5% |
| Stocks and contracts in progress3 | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.9m | ▲ 133% |
| Stocks30/36 | - | - | - | €0.3m | €0.3m | €0.3m | €0.4m | €0.9m | ▲ 133% |
| Amounts receivable within one year40/41 | €0.01m | €0.2m | €0.1m | €0.1m | €0.3m | €0.7m | €0.9m | €1.7m | ▲ 77.9% |
| Trade receivables40 | - | - | - | €0.08m | €0.09m | €0.1m | €0.07m | €0.2m | ▲ 228% |
| Other amounts receivable41 | - | - | - | €0.02m | €0.2m | €0.6m | €0.9m | €1.5m | ▲ 65.6% |
| Cash at bank and in hand54/58 | €60 | €0.2m | €0.2m | €0.3m | €0.2m | €0.1m | €0.4m | €0.2m | ▼ 57.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.08m | €0.03m | €0.02m | €0.06m | €0.07m | ▲ 18.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.2m | €1.8m | €1.7m | €1.7m | €1.7m | €1.9m | €3.5m | €8.8m | ▲ 151% |
| Equity10/15 | €0.6m | €0.6m | €0.6m | €0.7m | €0.7m | €0.6m | €0.7m | €0.6m | ▼ 13.2% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | €0.4m | €0.4m | €0.4m | €0.5m | €0.5m | €0.4m | €0.5m | €0.4m | ▼ 18.8% |
| Amounts payable17/49 | €0.6m | €1.2m | €1.1m | €1.0m | €1.0m | €1.3m | €2.8m | €8.2m | ▲ 190% |
| Amounts payable after more than one year17 | - | €0.4m | €0.3m | €0.2m | €0.08m | €0.06m | €1.0m | €5.2m | ▲ 440% |
| Financial debts170/4 | - | - | - | €0.06m | €0.07m | €0.05m | €1.0m | €5.2m | ▲ 442% |
| Trade debts175 | - | - | - | €0.09m | €0.006m | - | - | - | - |
| Other amounts payable178/9 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Amounts payable within one year42/48 | €0.6m | €0.7m | €0.7m | €0.9m | €0.9m | €1.2m | €1.9m | €2.8m | ▲ 53.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.2m | €0.2m | €0.2m | €0.5m | ▲ 126% |
| Financial debts43 | - | - | - | - | - | €0.03m | €0.03m | €0.07m | ▲ 131% |
| Credit institutions430/8 | - | - | - | - | - | €0.03m | €0.03m | €0.07m | ▲ 131% |
| Trade debts44 | €0.02m | €0.5m | €0.5m | €0.6m | €0.7m | €0.8m | €1.2m | €2.1m | ▲ 83.1% |
| Suppliers440/4 | - | - | - | €0.6m | €0.7m | €0.8m | €1.2m | €2.1m | ▲ 83.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.08m | €0.09m | €0.1m | €0.09m | €0.1m | ▲ 39.1% |
| Taxes450/3 | - | - | - | €0.004m | €0.01m | €0.02m | €0.02m | €312 | ▼ 98.5% |
| Remuneration and social security454/9 | - | - | - | €0.07m | €0.08m | €0.08m | €0.07m | €0.1m | ▲ 80.8% |
| Other amounts payable47/48 | - | - | - | €0.001m | - | - | €0.3m | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €193 | €80 | - | €0.1m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | €0.05m | €0.2m | €0.04m | €0.02m | -€0.03m | €0.03m | -€0.09m | - |
| + Depreciation and write-downs630 | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.6m | ▲ 128% |
| Operating cash flow (approximation) | €0.1m | €0.2m | €0.4m | €0.2m | €0.2m | €0.2m | €0.3m | €0.5m | ▲ 75.6% |
| Investment in fixed assets (approximation) | - | -€0.1m | -€0.08m | -€0.09m | -€0.1m | -€0.1m | -€1.3m | -€4.8m | ▼ 279% |
| Change in cash | - | €0.2m | -€0.02m | €0.1m | -€0.05m | -€0.08m | €0.3m | -€0.2m | - |
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, 912 companies had the same profile as BARTHE has now. Two years later, 95.3% were still going and 2.4% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency under 10%
- a small loss
95.3%
was still going
2.1%
stopped otherwise
2.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BARTHE itself: 1.5% 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 912 companies, not a prediction for BARTHE. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 31-08-2026 | 2026-00456292 | |
| 31-12-2024 | full format | 31-08-2025 | 2025-00481717 | |
| 31-12-2023 | full format | 31-08-2024 | 2024-00439075 | |
| 31-12-2022 | full format | 26-07-2023 | 2023-00271706 | |
| 31-12-2021 | full format | 30-08-2022 | 2022-20390355 | |
| 31-12-2020 | full format | 30-08-2021 | 2021-64800346 | |
| 31-12-2019 | full format | 31-08-2020 | 2020-48200372 | |
| 31-12-2018 | micro format | 07-05-2019 | 2019-12300503 | |
| 31-12-2017 | micro format | 15-06-2018 | 2018-18500158 | |
| 31-12-2016 | full format | 29-06-2017 | 2017-23700296 |
Board & ownership
Directors
Directors
4 directors, 1 in day-to-day management, last change in 2022
Board 4
JB MGMT
Current
Director (not named in the articles) · since 18-10-2021 · Private limited company · permanent representative: JONET Benoît Joseph Roger Marcel · also on the board of 4 other companies · listed in the 2025 annual accounts, filed on 31-08-2026
BA RETAIL
Current
Director (not named in the articles) · current term since 18-12-2023 · Public limited company · permanent representative: BUTTIENS Anne Marie Josée Georgette · listed in the 2025 annual accounts, filed on 31-08-2026
DESTEXHE Marie Paule Phina
Current
Director (not named in the articles) · since 18-12-2023 · listed in the 2025 annual accounts, filed on 31-08-2026
Current
Day-to-day management 1
BA RETAIL
Current
Administrateur délégué à la gestion journalière · in office according to the act of 20-12-2023 · Public limited company · permanent representative: BUTTIENS Anne Marie Josée Georgette
Permanent representatives 2
BUTTIENS Anne Marie Josée Georgette
Current
Permanent representative · appointed in the act of 19-01-2022 · for BA RETAIL
JONET Benoît Joseph Roger Marcel
Current
Permanent representative · appointed in the act of 19-01-2022 · for JB MGMT
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Article 22 - Représentation de la société La société est valablement représentée à l’égard des tiers et notamment dans les actes auxquels…”
deed of 20-12-2023Owners and capital
Shareholders
2 ownersChain of control
- BA RETAIL
- BARTHE
Owners 2
- David BARTHELEMYnatural personSourceown accounts 202099.98%
- BA RETAILparentEquity €605,873 Profit of €138,483 in 2025 (profit of €130,469 in 2024)99%
Former owners (1)
-
share not stated
Capital transactions
Shareholders according to the deeds
Stated in the act
act of 20-12-2023 ↗
- BA RETAIL (BE 0775.353.860)
- BUTTIENS Anne Marie Josée Georgette
- ITM BELGIUM (BE 0444.175.173)
Capital over time
- 20-12-2023 Capital stated in the deed · 6,000 shares
Mandate history
7 people, 4 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| BA RETAIL |
|
| JB MGMT |
|
| Marie-Paule DESTEXHE |
|
| DESTEXHE Marie Paule Phina |
|
| Adrien BARTHELEMY |
|
| David BARTHELEMY |
|
| Thomas BARTHELEMY |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Remboursement sur justificatif dans interet societe, 3”
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “10, 47”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Cessions et transmissions à titre onéreux ou gratuit à tiers non actionnaires, assemblée générale à l’unanimité des présents ou représentés”
Articles of association, deed of 20-12-2023 (in French)
Network & group
Companies at the same address
4 other companiesConnections & network
5 connected companiesThis company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
COMDIS
Shared corporate director
→
ELEVAGE MAHOUX ROSMEULEN
Shared corporate director
→
FALE IMMO
Shared corporate director
→
Lolyhold
Shared corporate director
→
Show 1 more companies with a shared director
NANRETAIL
Shared corporate director
→
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
31-08
full format · 31 days late
2025
31-12
Financial
Weakest financial yearnet -€88,682
The net result drops to -€88,682, the lowest from 2018 to 2025.
31-08
full format · 31 days late
2024
31-12
Financial
Back to profitnet €28,316
The net result is €28,316, after one loss-making year.
31-08
full format · 31 days late
2023
20-12
Gazette deed
Reappointments: BA RETAIL, JB MGMT and DESTEXHE Marie Paule PhinaPermanent representatives: BUTTIENS Anne Marie Josée Georgette and JONET Benoît Joseph Roger Marcel · Power of attorney · Kind of shares19 points ▸
Gazette deed
Reappointments: BA RETAIL, JB MGMT and DESTEXHE Marie Paule Phina
Permanent representatives: BUTTIENS Anne Marie Josée Georgette and JONET Benoît Joseph Roger Marcel · Power of attorney · Kind of shares19 points ▸
- Power of attorney, Bernard DEWITTE
- Director reappointment, BA RETAIL (director (not named in the articles))
- Permanent representative, BUTTIENS Anne Marie Josée Georgette
- Director reappointment, JB MGMT (director (not named in the articles))
- Permanent representative, JONET Benoît Joseph Roger Marcel
- Director reappointment, DESTEXHE Marie Paule Phina (director (not named in the articles))
- Director reappointment, BA RETAIL (administrateur délégué à la gestion journalière)
- General meeting
- Kind of shares, “creation et fixation, proportionnelle à la part dans le capital” (deed in French)
- Declaration, “données financières et comptables informant l’assemblée sur l’opération reprise ci-avant et conséquences financières et comptables éventuelles, connaissance rap…” (deed in French)
- BA RETAIL is a shareholder
- BUTTIENS Anne Marie Josée Georgette is a shareholder
- The act holds 7 more points.
26-07
full format · 5 days before the deadline
2022
30-08
full format · 30 days late
19-01
Gazette deed
Resignations: David BARTHELEMY, Adrien BARTHELEMY and Thomas BARTHELEMYAppointments: JB MGMT, BA RETAIL and Marie-Paule DESTEXHE · Permanent representatives: Benoit JONET and Anne BUTTIENS9 points ▸
Gazette deed
Resignations: David BARTHELEMY, Adrien BARTHELEMY and Thomas BARTHELEMY
Appointments: JB MGMT, BA RETAIL and Marie-Paule DESTEXHE · Permanent representatives: Benoit JONET and Anne BUTTIENS9 points ▸
- General meeting, 18-10-2021
- Director resignation, David BARTHELEMY (director)
- Director resignation, Adrien BARTHELEMY (director)
- Director resignation, Thomas BARTHELEMY (director)
- Director appointment, JB MGMT (director)
- Director appointment, BA RETAIL (director)
- Director appointment, Marie-Paule DESTEXHE (director)
- Permanent representative, Benoit JONET
- Permanent representative, Anne BUTTIENS
2021
30-08
full format · 30 days late
2020
31-12
Financial
Highest result from 2018 to 2025net €196,872 ▲300%
The operating result of €310,714 and the net result of €196,872 are both a record.
31-08
full format · 31 days late
Show earlier events
2019
07-05
micro format · 85 days before the deadline
2018
15-06
micro format · 46 days before the deadline
2017
29-06
full format · 32 days before the deadline
2008
11-06
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
BARTHE in French
Enterprise number
0898.423.896
Legal form
Public limited company
Status
Active, normale toestand
Founded
09-06-2008
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 20-12-2023 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région wallonne, 5330 Assesse,rue Melville Wilson,3”
deed of 20-12-2023 (in French)Registered office and establishments
Registered office
Rue Melville Wilson 3, 5330 Assesse, Belgium
Establishment unit
INTERMARCHE, Rue Melville Wilson 3, 5330 Assesse since 09-06-2008 · unit number 2.173.704.078
Activities
NACEBEL 2025VAT activities
47110
Non-specialised retail sale with food, beverages or tobacco predominating main activity
64210
Activities of holding companies
68110
Buying and selling of own real estate
70200
Business and other management consultancy
Social security (RSZ) activities
47110
Non-specialised retail sale with food, beverages or tobacco predominating main activity
Codes under NACEBEL 2008
VAT activities
47114
Supermarkets main activity
47112
Retail trade
64200
Holdings
68100
Real estate activities
70220
Business consulting
Social security (RSZ) activities
47112
Retail trade main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 20-12-2023 (in French)
“Toutes opérations de nature financière et commerciale au sein de toutes sociétés,entreprises,associations et affaires…”
9 activities
- Toutes opérations de nature financière et commerciale au sein de toutes sociétés,entreprises,associations et affaires commerciales,industrielles ou immobilières,ainsi que la gestion des sociétés,entreprises ou associations dans lesquelles elle détiendrait des participations
- L’exploitation de surfaces commerciales dans le sens le plus large et notamment l’achat,la vente,la commercialisation au sens large de produits alimentaires et non alimentaires ainsi que le commerce en viandes,charcuterie,volailles et gibiers abattus,le commerce en tabac,alcool et boissons spiritueuses
- A titre accessoire,l’achat,la construction,la gestion,la location,la sous-location,l’échange et la vente de tous biens et droits immobiliers
- La vente et l’achat,en gros ou en détail,de tous livres,revues,journaux(quotidiens,hebdomadaires et autres)
- La constitution et la gestion d'un propre patrimoine immobilier,notamment l'acquisition par l'achat ou autrement,la vente,l'échange,la construction,la transformation,l'amélioration,l'équipement,l'aménagement,l'embellissement,l'entretien,la location,la prise en location,le lotissement,la prospection et l'exploitation de biens immeubles,ainsi que toutes opérations qui directement ou indirectement,sont en relation avec cet objet et qui sont de nature à favoriser l'accroissement et le rapport d'un patrimoine immobilier
- Exploiter toutes industries ou tout commerce de nature à promouvoir soit directement soit indirectement l'objet social
- Accepter tout mandat d’administrateur au sein de toutes sociétés,entreprises ou associations dans lesquelles elle détiendrait des participations et cautionner les engagements de celles-ci
- Accomplir,tant en Belgique qu’à l’étranger,toutes opérations généralement quelconques,civiles,commerciales,industrielles,financières,mobilières ou immobilières se rapportant directement ou indirectement à son objet social
- S’intéresser par toutes voies,notamment apports,cessions,fusions ou autres dans toutes entreprises ou sociétés ayant un objet identique,analogue,similaire ou connexe au sien ou qui serait de nature à favoriser le développement de l’entreprise
Invoicing and payment
VAT number
BE 0898.423.896
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Friday of April at 18:00
deed of 20-12-2023 (in French)Recognitions · licences · registrations
Food safety, FASFC
1 siteAssesseunit number 2.173.704.078
Sites & property
Location
Buildings and parcels at the address
Ground area
4,940 m²
Building footprint
1,478 m²
Building volume
6,834 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 92006B0321/00G000 | Wallonia | 4,940 m² | 1 · 1,478 m² | 7.6 m · 2 |