BARTIER
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 27 days after the deadline Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00476284.
Annual accounts 2025 filed on 27-08-2026 at the NBB all 38 filings
Turnover
≈ €1.6m
Estimated: probably between €1.2m and €2.1m
EBIT margin
Not included in this filing
Net result
€113,122▲ 17.2%
2024 · €96,560
Working capital
€325,340▲ 35.3%
2024 · €240,483
In the rankings
#9 company by equity in Kortrijk, Other services sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€180,452
▲ 12.6%
2025
20182025
Net result
€113,122
▲ 17.2%
2025
middle half of the sector
20182025
Equity
€732,261
▲ 12.9%
2025
middle half of the sector
20182025
Total assets
€1.3m
▲ 17.4%
2025
middle half of the sector
20182025
Debt
€522,841
▲ 24.4%
2025
20182025
Working capital
€325,340
▲ 35.3%
2025
middle half of the sector
20182025
Solvency
58.3%
▼ 2.3pp
2025
middle half of the sector
20182025
Current ratio
1.95
▼ 0.28
2025
middle half of the sector
20182025
Return on assets (ROA)
9.0%
=
2025
middle half of the sector
20182025
Staff (FTE)
2.1
▲ 50.0%
2025
lowest 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€0.05m--€0.04m€0.008m€0.1m▲ 12×€0.02m▼ 79.8%€0.2m▲ 984%€0.2m▼ 24.0%€0.2m▲ 12.6%
Net result€0.02m--€0.05m-€0.01mbelow the sector's middle half▲ 78.1%€0.06mwithin the sector's middle half€0.001mbelow the sector's middle half▼ 97.8%€0.4mabove the sector's middle half▲ 308×€0.1mwithin the sector's middle half▼ 73.7%€0.1mwithin the sector's middle half▲ 17.2%
Equity€0.4m-€0.2m▼ 43.8%€0.2mwithin the sector's middle half▼ 13.8%€0.2mwithin the sector's middle half▼ 14.3%€0.2mwithin the sector's middle half▲ 0.7%€0.6mwithin the sector's middle half▲ 199%€0.6mwithin the sector's middle half▲ 17.5%€0.7mwithin the sector's middle half▲ 12.9%
Total assets€1.1m-€1.1m▲ 1.2%€1.1mwithin the sector's middle half▲ 2.6%€1.2mwithin the sector's middle half▲ 9.2%€1.0mwithin the sector's middle half▼ 19.1%€1.3mwithin the sector's middle half▲ 27.3%€1.1mwithin the sector's middle half▼ 16.3%€1.3mwithin the sector's middle half▲ 17.4%
Debt€0.7m-€0.9m▲ 31.7%€0.9m▲ 7.4%€1.1m▲ 14.7%€0.8m▼ 22.5%€0.7m▼ 11.4%€0.4m▼ 42.1%€0.5m▲ 24.4%
Working capital-€0.1m--€0.3m▼ 138%-€0.4mbelow the sector's middle half▼ 7.6%-€0.4mbelow the sector's middle half▼ 7.7%-€0.3mbelow the sector's middle half▲ 24.3%€0.1mwithin the sector's middle half€0.2mwithin the sector's middle half▲ 61.8%€0.3mwithin the sector's middle half▲ 35.3%
Solvency40.4%-22.5%▼ 18.0pp18.9%below the sector's middle half▼ 3.6pp14.8%below the sector's middle half▼ 4.1pp18.4%below the sector's middle half▲ 3.6pp43.2%within the sector's middle half▲ 24.8pp60.7%within the sector's middle half▲ 17.5pp58.3%within the sector's middle half▼ 2.3pp
Current ratio0.78-0.60▼ 0.180.60below the sector's middle half=0.63below the sector's middle half▲ 0.020.57below the sector's middle half▼ 0.051.34within the sector's middle half▲ 0.772.23within the sector's middle half▲ 0.881.95within the sector's middle half▼ 0.28
Return on assets (ROA)1.7%--4.7%▼ 6.4pp-1.0%below the sector's middle half▲ 3.7pp4.5%within the sector's middle half▲ 5.5pp0.1%below the sector's middle half▼ 4.3pp28.8%above the sector's middle half▲ 28.6pp9.0%within the sector's middle half▼ 19.7pp9.0%within the sector's middle half=
Staff (FTE)4.3-5.3▲ 23.3%4within the sector's middle half▼ 24.5%2.3within the sector's middle half▼ 42.5%1.4below the sector's middle half▼ 39.1%2within the sector's middle half▲ 42.9%1.4below the sector's middle half▼ 30.0%2.1below the sector's middle half▲ 50.0%
above
within
below
The sector band is the middle half of the companies in Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95). 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 13% higher than in 2024. It is a recovery after the fall in 2024.
Large changes and their cause
- 2024 Net result -74% on 2023. Merger absorbing BTEC-MOTORS, effective 17-05-2023, in the previous financial year. That operation now counts for a full year for the first time.
- 2023 Net result +30,688%, Equity +199% on 2022. Merger absorbing BTEC-MOTORS, effective 17-05-2023.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€587,277 ▼ 7.1%
Current assets
€667,825 ▲ 52.9%
Equity and liabilities €1.3m
Equity
€732,261 ▲ 12.9%
Debt
€522,841 ▲ 24.4%
Debt's share of the balance-sheet total rises from 39.3% to 41.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€252,182▲
2024 · €231,690
Cash flow
€184,852▲
2024 · €167,958
Quick ratio
0.55▼
2024 · 0.65
Debt to equity
0.71▲
2024 · 0.65
ROE
15.4%▲
2024 · 14.9%
Interest coverage
15.59▲
2024 · 8.61
Debt ≤ 1 year
€342,485▲
2024 · €196,186
Debt > 1 year
€177,259▼
2024 · €221,789
Income taxes
€51,238▲
2024 · €37,008
Staff costs
€115,989▲
2024 · €80,826
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 | 2 | 1 | 3 | 2 | 3 |
| full-time | 2 | 1 | 1 | 0 | 1 |
| part-time | - | - | 2 | 2 | 2 |
| in full-time equivalents | 2 | 1 | 2 | 1.2 | 2.4 |
| Average over the year, in full-time equivalents | 2.3 | 1.4 | 2 | 1.4 | 2.1 |
| On a permanent contract | 2 | 1 | 3 | 2 | 3 |
| Joined | 0 | 3 | - | 8 | 12 |
| Left | 2 | 4 | - | 8 | 11 |
| Training hours | - | - | 50 | 109 | 56 |
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 | - | - | €451,256 | €218,731 | €297,673 |
| Mortgages, amount registered | - | - | €300,000 | €300,000 | €300,000 |
| Mortgage mandates | - | - | €400,000 | €400,000 | €400,000 |
| Carrying value of the mortgaged assets | - | - | €649,515 | €598,988 | €555,059 |
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 | €5,256 | €34,090 | €1.6m | €6,732 | €27,186 |
| Financial fixed assets | - | €320 | €135 | - | - |
| Depreciation and write-downs of the year | €7,574 | €10,418 | €77,214 | €71,397 | €71,730 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2024 · 4 entries · €4,891 awarded · €4,891 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €2,000 | €2,000 |
| 2023 | 2 | €2,324 | €2,648 |
| 2022 | 1 | €567 | €243 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €872 | €4,206 | €5,835 | €197 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €115,372 | €81,935 | €123,415 | €80,826 | €115,989 | ▲ 43.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,744 | €13,334 | €8,653 | €7,574 | €10,418 | €77,214 | €71,397 | €71,730 | ▲ 0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€5,731 | €5,273 | €36,016 | -€44,651 | -€2,022 | ▲ 95.5% |
| Other operating charges640/8 | - | - | - | €20,780 | €20,648 | €45,611 | €41,199 | €52,649 | ▲ 27.8% |
| Non-recurring operating charges66A | - | - | - | - | - | €290 | €904 | €189 | ▼ 79.1% |
| Gross operating margin9900 | €302,123 | €275,053 | €166,522 | €234,439 | €137,742 | €493,534 | €309,967 | €418,987 | ▲ 35.2% |
| Operating profit (loss)9901 | €46,343 | -€43,431 | €7,998 | €96,444 | €19,467 | €210,988 | €160,293 | €180,452 | ▲ 12.6% |
| Financial income75/76B | - | - | - | €1,365 | €1,806 | €247,541 | €175 | €82 | ▼ 53.4% |
| Recurring financial income75 | €1,864 | €653 | €4,469 | €1,365 | €1,806 | €25 | €175 | €82 | ▼ 53.4% |
| Non-recurring financial income76B | - | - | - | - | - | €247,516 | €0 | - | - |
| Financial charges65/66B | - | - | - | €16,715 | €19,894 | €45,917 | €26,899 | €16,174 | ▼ 39.9% |
| Recurring financial charges65 | €14,773 | €13,218 | €22,877 | €16,715 | €19,894 | €45,917 | €26,899 | €16,174 | ▼ 39.9% |
| Profit (loss) for the period before taxes9903 | €33,434 | -€55,997 | -€10,411 | €81,094 | €1,380 | €412,612 | €133,568 | €164,360 | ▲ 23.1% |
| Income taxes67/77 | €15,394 | -€3,737 | €1,021 | €25,788 | €186 | €45,252 | €37,008 | €51,238 | ▲ 38.5% |
| Profit (loss) for the period9904 | €18,586 | -€52,260 | -€11,432 | €55,306 | €1,193 | €367,359 | €96,560 | €113,122 | ▲ 17.2% |
| Transfer from tax-exempt reserves789 | - | - | - | €74,382 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €19,645 | -€52,260 | -€3,599 | €129,687 | €1,193 | €367,359 | €96,560 | €113,122 | ▲ 17.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.1m | €1.1m | €1.1m | €1.2m | €1.0m | €1.3m | €1.1m | €1.3m | ▲ 17.4% |
| Fixed assets21/28 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.7m | €0.6m | €0.6m | ▼ 7.1% |
| Tangible fixed assets22/27 | €0.02m | €0.02m | €0.02m | €0.02m | €0.04m | €0.7m | €0.6m | €0.6m | ▼ 7.1% |
| Land and buildings22 | - | - | - | - | - | €0.6m | €0.6m | €0.6m | ▼ 7.3% |
| Plant, machinery and equipment23 | - | - | - | €0.008m | €0.03m | €0.03m | €0.02m | €0.02m | ▼ 17.7% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.02m | €0.02m | €0.01m | €0.02m | ▲ 21.9% |
| Financial fixed assets28 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.001m | €0.001m | €135 | ▼ 78.7% |
| Current assets29/58 | €0.5m | €0.5m | €0.6m | €0.7m | €0.4m | €0.6m | €0.4m | €0.7m | ▲ 52.9% |
| Stocks and contracts in progress3 | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.4m | €0.3m | €0.5m | ▲ 55.0% |
| Stocks30/36 | - | - | - | €0.2m | €0.2m | €0.4m | €0.3m | €0.5m | ▲ 55.0% |
| Amounts receivable within one year40/41 | €0.2m | €0.2m | €0.3m | €0.4m | €0.1m | €0.2m | €0.1m | €0.2m | ▲ 67.8% |
| Trade receivables40 | - | - | - | €0.4m | €0.1m | €0.2m | €0.1m | €0.2m | ▲ 56.3% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.003m | €0.001m | €0.001m | €0.01m | ▲ 12× |
| Cash at bank and in hand54/58 | €0.06m | €0.06m | €0.01m | €0.03m | €0.01m | €0.008m | €0.01m | €0.004m | ▼ 67.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | €0.008m | €0.007m | €0.009m | €0.007m | ▼ 15.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €1.1m | €1.2m | €1.0m | €1.3m | €1.1m | €1.3m | ▲ 17.4% |
| Equity10/15 | €0.4m | €0.2m | €0.2m | €0.2m | €0.2m | €0.6m | €0.6m | €0.7m | ▲ 12.9% |
| Contributions10/11 | €0.2m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.5m | €0.6m | €0.7m | ▲ 14.3% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | €0.1m | €0.1m | €0.5m | €0.6m | €0.7m | ▲ 14.4% |
| Profit (loss) carried forward14 | €0.001m | -€0.05m | -€0.05m | - | - | - | - | €0 | - |
| Amounts payable17/49 | €0.7m | €0.9m | €0.9m | €1.1m | €0.8m | €0.7m | €0.4m | €0.5m | ▲ 24.4% |
| Amounts payable after more than one year17 | - | - | - | - | €0.1m | €0.3m | €0.2m | €0.2m | ▼ 20.1% |
| Financial debts170/4 | - | - | - | - | - | €0.2m | €0.2m | €0.1m | ▼ 10.4% |
| Other amounts payable178/9 | - | - | - | - | €0.1m | €0.1m | €0.06m | €0.04m | ▼ 44.0% |
| Amounts payable within one year42/48 | €0.7m | €0.9m | €0.9m | €1.1m | €0.7m | €0.4m | €0.2m | €0.3m | ▲ 74.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €0.02m | €0.02m | €0.02m | ▲ 1.7% |
| Financial debts43 | - | - | - | - | €0.07m | €0.3m | €0.05m | €0.1m | ▲ 175% |
| Credit institutions430/8 | - | - | - | - | €0.07m | €0.3m | €0.05m | €0.1m | ▲ 175% |
| Trade debts44 | €0.1m | €0.1m | €0.1m | €0.1m | €0.08m | €0.06m | €0.07m | €0.05m | ▼ 19.8% |
| Suppliers440/4 | - | - | - | €0.1m | €0.08m | €0.06m | €0.07m | €0.05m | ▼ 19.8% |
| Advances received on contracts in progress46 | - | - | - | €0.1m | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.09m | €0.07m | €0.05m | €0.05m | €0.09m | ▲ 77.7% |
| Taxes450/3 | - | - | - | €0.08m | €0.06m | €0.04m | €0.05m | €0.06m | ▲ 41.0% |
| Remuneration and social security454/9 | - | - | - | €0.009m | €0.004m | €0.01m | €0.007m | €0.03m | ▲ 307% |
| Other amounts payable47/48 | - | - | - | €0.7m | €0.5m | €0.005m | €0.005m | €0.03m | ▲ 485% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.002m | €0.007m | €0.002m | €0.003m | ▲ 30.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,586 | -€52,260 | -€11,432 | €55,306 | €1,193 | €367,359 | €96,560 | €113,122 | ▲ 17.2% |
| + Depreciation and write-downs630 | €12,744 | €13,334 | €8,653 | €7,574 | €10,418 | €77,214 | €71,397 | €71,730 | ▲ 0.5% |
| Operating cash flow (approximation) | €31,330 | -€38,926 | -€2,779 | €62,879 | €11,611 | €444,573 | €167,958 | €184,852 | ▲ 10.1% |
| Investment in fixed assets (approximation) | - | -€16,653 | -€1,255 | -€5,256 | -€34,400 | -€171,593 | -€6,732 | -€26,686 | ▼ 296% |
| Change in cash | - | €271 | -€42,066 | €12,330 | -€12,750 | -€5,476 | €5,168 | -€9,042 | - |
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, 31,368 companies had the same profile as BARTIER has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BARTIER itself: 0.3% 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 31,368 companies, not a prediction for BARTIER. 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 38 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 27-08-2026 | 2026-00476284 | |
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00479587 | |
| 31-12-2023 | abbreviated format | 27-09-2024 | 2024-00493894 | |
| 31-12-2022 | abbreviated format | 28-08-2023 | 2023-00405077 | |
| 31-12-2021 | abbreviated format | 29-09-2022 | 2022-20444524 | |
| 31-12-2020 | abbreviated format | 30-09-2021 | 2021-69600269 | |
| 31-12-2019 | abbreviated format | 03-09-2020 | 2020-50900055 | |
| 31-12-2018 | abbreviated format | 28-06-2019 | 2019-26400548 | |
| 31-12-2017 | abbreviated format | 28-06-2018 | 2018-27600527 | |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-54700551 |