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Bermaso

Active
Public limited companyfounded 199927 yrs activeWijnegemsteenweg 22, 2970 Schilde, BelgiumKBO/BCE: BE 0466.251.878
Summary

Bermaso has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €73.4m and a net result of €20.1m. Equity is growing by ~7.1% per year across the filed fiscal years. Its solvency ranks better than 54% of 5663 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

Risk analysisWatch ReportCompare
BermasoActiveChecked score 81/100
Risk analysis ReportCompare

Overview

Activity
Buying and selling of own real estate
NACE 68110NACE 68100Renting and operating of own or leased non-residential real estate, excluding land NACE 68203
#1 company by total assets in Schilde1 site
Size
€7.5mturnover 2025
Staff
2.7 FTE
Equity
€73.4m
Profit
€20.1m
Financial health
81 Excellent Checked score 2025
Bankruptcy chance 12 m
0.4%
Structure
Largest shareholder
PADOXA · 20%
Board
2 members
Holdings
38
Accounts filed 31 d late3 of 72 deeds read
Why 81- Liquidity: current ratio 1.20, cash €85,156- Latest accounts 31 days late; 1 of the last 3 late+ Size: turnover €7.5m, 2.7 FTE, total assets €165.5m+ Founded in 1999Show the evidence

Checked score

Score 2025
81 / 100
Excellent
Probability in this band: under 0.55%
Better than 35% of its sector peers (NACE 68, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 69+6
equity 44.4% of total assets
Liquidity 29=
short-term debt 43.7% · cash 0.1%
Profitability 23+13
return on assets 12.2%
Bankruptcy probability, 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%

About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (26,530 companies)
Last 24 months 11-2024: 0.5% 12-2024: 0.4%▼ -3.7% vs 11-2024 01-2025: 0.4%▲ +1.8% vs 12-2024 02-2025: 0.4%▼ -2.5% vs 01-2025 03-2025: 0.4%▲ +3.0% vs 02-2025 04-2025: 0.4%▼ -2.2% vs 03-2025 05-2025: 0.5%▲ +23.3% vs 04-2025 06-2025: 0.6%▲ +16.1% vs 05-2025 07-2025: 0.6%● 0.0% vs 06-2025 08-2025: 0.6%● 0.0% vs 07-2025 09-2025: 0.6%● 0.0% vs 08-2025 10-2025: 0.6%▼ -0.2% vs 09-2025 11-2025: 0.6%● 0.0% vs 10-2025 12-2025: 0.6%▼ -3.5% vs 11-2025 01-2026: 0.6%▲ +1.8% vs 12-2025 02-2026: 0.6%▼ -2.4% vs 01-2026 03-2026: 0.6%▲ +2.8% vs 02-2026 04-2026: 0.6%▲ +2.4% vs 03-2026 05-2026: 0.6%▼ -2.2% vs 04-2026 06-2026: 1.1%▲ +71.0% vs 05-2026 07-2026: 1.2%▲ +15.0% vs 06-2026 08-2026: 1.8%▲ +44.0% vs 07-2026highest value 09-2026: 0.4%▼ -75.5% vs 08-2026lowest value 10-2026: 0.4%● 0.0% vs 09-2026lowest value
  • Liquidity: current ratio 1.20, cash €85,156 raises the probability
  • Latest accounts 31 days late; 1 of the last 3 late raises the probability
  • Size: turnover €7.5m, 2.7 FTE, total assets €165.5m lowers the probability for this profile
  • Founded in 1999 lowers the probability for this profile
Credit up to €750,000 at 30 days acceptable
Liquidity tight (current ratio 1.2 against 0.96 in 2024; short-term debt: 43.7% and cash: 0.1% of total assets), and 55.6% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 68, micro). Better than this share of them on solvency 60%, liquidity 22%, profitability 22%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Liquidity: current ratio 1.20, cash €85,156
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Latest accounts 31 days late; 1 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
lowers risk · Size: turnover €7.5m, 2.7 FTE, total assets €165.5m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
lowers risk · Founded in 1999
In the bankruptcy model this factor lowers the probability for this profile.
KBO
neutral · Filed after the deadline
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. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filings
Deviation from the deadline
2025
31 d late
2024
15 d early
2023
1 d early
2021
55 d late
2020
16 d late
2019
381 d late
2018
142 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 87 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Capital & shares · RestructuringMerger · Accounting effect ·…
  3. Capital & shares · RestructuringPermanent representatives: Xavier Painblanc and…

Key points

  • Positive: Back in profit in 2025after -€4.7m in 2024 €20.1m View
  • Positive: Company by total assets in Schildein the Checked rankings #1 View
  • 3 restructurings since 2025latest: merger with Grondvennootschap Neerhof 3 View
  • Heads a groupcompanies controlled 15 View
  • Board changedlatest change 15-01-2026 · 2 in office 1 joined · 1 left View

By topic

Financials

Fiscal year
2025
Turnover
€7.5m
Profit
€20.1m
Solvency
44.4%
Turnover▲ 44.7%
Net result
20182025
Go to Financials

Timeline

Events
17
Since
2015
  1. 31-08-2026Annual accounts filed
  2. 22-06-2026Capital & shares · Restructuring
  3. 05-05-2026Capital & shares · Restructuring
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Buying and selling of own real estateNACE 68110
Founded
15-06-1999
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies Which other companies belong to the same group?Bermaso · 15 companies

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