BERTH IMMO
ActiveSummary
BERTH IMMO has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €654,996 and a net result of €28,658. Equity is growing by ~36.8% per year across the filed fiscal years. Its solvency ranks better than 56% of 9294 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability44▼-2
Solvency63▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 8.3 against 5.49 in 2024; short-term debt: 8.9% and cash: 12.9% of total assets), but 62% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
38%
Return on assets
1.7%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 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 filingsDeviation from the deadline
2025
21 d late
2024
55 d late
2023
30 d late
2022
31 d late
2021
30 d late
2020
31 d late
2019
17 d early
← 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 26 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 (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€654,996▲ 4.6%
2024 · €626,337
Total assets
€1.7m▼ 21.4%
2024 · €2.2m
Net result
€28,658▼ 44.2%
2024 · €51,339
Working capital
€1.1m▼ 20.1%
2024 · €1.4m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€309,695▲ 80,458%€213,931▼ 30.9%€358,733▲ 67.7%€138,167▼ 61.5%€89,075▼ 35.5%
Net result€210,625above the sector's middle half€125,012above the sector's middle half▼ 40.6%€218,523above the sector's middle half▲ 74.8%€51,339within the sector's middle half▼ 76.5%€28,658within the sector's middle half▼ 44.2%
Equity€231,464within the sector's middle half▲ 1,011%€356,476above the sector's middle half▲ 54.0%€574,998within the sector's middle half▲ 61.3%€626,337within the sector's middle half▲ 8.9%€654,996within the sector's middle half▲ 4.6%
Total assets€1.4mabove the sector's middle half▲ 81.7%€1.7mabove the sector's middle half▲ 20.0%€2.0mwithin the sector's middle half▲ 17.1%€2.2mwithin the sector's middle half▲ 10.8%€1.7mwithin the sector's middle half▼ 21.4%
Debt€1.2m▲ 56.0%€1.3m▲ 13.3%€1.4m▲ 5.3%€1.6m▲ 11.5%€1.1m▼ 31.8%
Working capital-€93,977▼ 3.3%€454,584€1.1m▲ 149%€1.4m▲ 23.1%€1.1m▼ 20.1%
Solvency16.4%within the sector's middle half▲ 13.7pp21.1%within the sector's middle half▲ 4.7pp29.0%within the sector's middle half▲ 8.0pp28.6%within the sector's middle half▼ 0.5pp38.0%within the sector's middle half▲ 9.4pp
Staff (FTE)2.1▲ 250%2▼ 4.8%2within the sector's middle half=1.9above the sector's middle half▼ 5.0%1within the sector's middle half▼ 47.4%
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 36% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.7m
Fixed assets
€456,473 ▼ 6.3%
Current assets
€1.3m ▼ 25.7%
Equity and liabilities €1.7m
Equity
€654,996 ▲ 4.6%
Debt
€1.1m ▼ 31.8%
Debt's share of the balance-sheet total falls from 71.4% to 62.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€126,507▼
2024 · €176,623
Cash flow
€66,090▼
2024 · €89,796
Current ratio
8.30▲
2024 · 5.49
Quick ratio
2.30▲
2024 · 0.93
Debt to equity
1.63▼
2024 · 2.50
ROE
4.4%▼
2024 · 8.2%
ROA
1.7%▼
2024 · 2.3%
Interest coverage
2.79▼
2024 · 2.93
Debt ≤ 1 year
€152,623▼
2024 · €310,587
Debt > 1 year
€914,648▼
2024 · €1.3m
Income taxes
€16,722▼
2024 · €26,562
Staff costs
€38,185▼
2024 · €85,131
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,891 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 10,891 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €94,297 | €87,728 | €118,827 | €85,131 | €38,185 | ▼ 55.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €63,380 | €40,406 | €46,765 | €38,456 | €37,431 | ▼ 2.7% |
| Other operating charges640/8 | €4,981 | €6,328 | €19,602 | €10,207 | €16,154 | ▲ 58.3% |
| Gross operating margin9900 | €472,353 | €348,392 | €543,927 | €271,961 | €180,846 | ▼ 33.5% |
| Operating profit (loss)9901 | €309,695 | €213,931 | €358,733 | €138,167 | €89,075 | ▼ 35.5% |
| Financial income75/76B | - | €182 | €11,535 | €89 | €1,572 | ▲ 1,672% |
| Recurring financial income75 | - | €182 | €480 | €89 | €1,572 | ▲ 1,672% |
| Non-recurring financial income76B | - | - | €11,055 | - | - | - |
| Financial charges65/66B | €9,531 | €26,342 | €45,521 | €60,354 | €45,267 | ▼ 25.0% |
| Recurring financial charges65 | €9,531 | €26,342 | €45,521 | €60,354 | €45,267 | ▼ 25.0% |
| Profit (loss) for the period before taxes9903 | €300,165 | €187,771 | €324,748 | €77,901 | €45,380 | ▼ 41.7% |
| Income taxes67/77 | €89,540 | €62,759 | €106,225 | €26,562 | €16,722 | ▼ 37.0% |
| Profit (loss) for the period9904 | €210,625 | €125,012 | €218,523 | €51,339 | €28,658 | ▼ 44.2% |
| Profit (loss) for the period to be appropriated9905 | €210,625 | €125,012 | €218,523 | €51,339 | €28,658 | ▼ 44.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €1.7m | €2.0m | €2.2m | €1.7m | ▼ 21.4% |
| Fixed assets21/28 | €680,533 | €694,577 | €471,523 | €487,037 | €456,473 | ▼ 6.3% |
| Intangible fixed assets21 | €24,292 | €20,666 | €18,373 | €14,541 | €12,041 | ▼ 17.2% |
| Tangible fixed assets22/27 | €655,491 | €673,161 | €452,400 | €435,107 | €407,042 | ▼ 6.5% |
| Land and buildings22 | €565,427 | €594,509 | €381,808 | €381,040 | €363,299 | ▼ 4.7% |
| Furniture and vehicles24 | €69,399 | €63,267 | €60,486 | €49,241 | €43,743 | ▼ 11.2% |
| Leasing and similar rights25 | €20,665 | €15,385 | €10,105 | €4,825 | - | - |
| Financial fixed assets28 | €750 | €750 | €750 | €37,390 | €37,390 | = |
| Current assets29/58 | €728,188 | €995,705 | €1.5m | €1.7m | €1.3m | ▼ 25.7% |
| Stocks and contracts in progress3 | €445,229 | €633,208 | €1.1m | €1.4m | €915,337 | ▼ 35.3% |
| Stocks30/36 | €445,229 | €633,208 | €1.1m | €1.4m | €915,337 | ▼ 35.3% |
| Amounts receivable within one year40/41 | €43,523 | €72,426 | €11,237 | €27,257 | €106,904 | ▲ 292% |
| Trade receivables40 | €32,063 | €67,389 | €4,941 | €18,397 | €29,580 | ▲ 60.8% |
| Other amounts receivable41 | €11,460 | €5,037 | €6,296 | €8,860 | €77,323 | ▲ 773% |
| Cash at bank and in hand54/58 | €227,333 | €280,727 | €376,085 | €257,012 | €221,926 | ▼ 13.7% |
| Deferred charges and accrued income490/1 | €12,104 | €9,345 | €7,804 | €6,080 | €22,739 | ▲ 274% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €1.7m | €2.0m | €2.2m | €1.7m | ▼ 21.4% |
| Equity10/15 | €231,464 | €356,476 | €574,998 | €626,337 | €654,996 | ▲ 4.6% |
| Contributions10/11 | €9,500 | €9,500 | €6,300 | €6,300 | €6,300 | = |
| Reserves13 | €200,000 | €325,000 | €543,200 | €593,200 | €621,700 | ▲ 4.8% |
| Distributable reserves133 | €200,000 | €325,000 | €543,200 | €593,200 | €621,700 | ▲ 4.8% |
| Profit (loss) carried forward14 | €21,964 | €21,976 | €25,498 | €26,837 | €26,996 | ▲ 0.6% |
| Amounts payable17/49 | €1.2m | €1.3m | €1.4m | €1.6m | €1.1m | ▼ 31.8% |
| Amounts payable after more than one year17 | €354,487 | €790,013 | €1.0m | €1.3m | €914,648 | ▼ 27.0% |
| Financial debts170/4 | €354,487 | €790,013 | €1.0m | €1.3m | €914,648 | ▼ 27.0% |
| Amounts payable within one year42/48 | €822,165 | €541,121 | €375,310 | €310,587 | €152,623 | ▼ 50.9% |
| Current portion of amounts payable after more than one year42 | €99,887 | €31,475 | €64,466 | €27,442 | €26,047 | ▼ 5.1% |
| Financial debts43 | €410,000 | €160,041 | €59,429 | - | - | - |
| Credit institutions430/8 | €410,000 | €160,041 | €59,429 | - | - | - |
| Trade debts44 | €53,711 | €53,051 | €27,009 | €58,786 | €16,317 | ▼ 72.2% |
| Suppliers440/4 | €53,711 | €53,051 | €27,009 | €58,786 | €16,317 | ▼ 72.2% |
| Taxes, remuneration and social security45 | €36,988 | €74,036 | €50,947 | €51,803 | €38,103 | ▼ 26.4% |
| Taxes450/3 | €27,950 | €64,713 | €37,983 | €44,471 | €37,484 | ▼ 15.7% |
| Remuneration and social security454/9 | €9,037 | €9,323 | €12,965 | €7,333 | €618 | ▼ 91.6% |
| Other amounts payable47/48 | €221,580 | €222,518 | €173,459 | €172,555 | €72,156 | ▼ 58.2% |
| Accrued charges and deferred income492/3 | €605 | €2,674 | €4,913 | €2,774 | €1,111 | ▼ 59.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €210,625 | €125,012 | €218,523 | €51,339 | €28,658 | ▼ 44.2% |
| + Depreciation and write-downs630 | €63,380 | €40,406 | €46,765 | €38,456 | €37,431 | ▼ 2.7% |
| Operating cash flow (approximation) | €274,005 | €165,418 | €265,287 | €89,796 | €66,090 | ▼ 26.4% |
| Investment in fixed assets (approximation) | - | -€54,450 | €176,290 | -€53,971 | -€6,866 | ▲ 87.3% |
| Change in cash | - | €53,394 | €95,358 | -€119,074 | -€35,086 | ▲ 70.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
21-08
State Gazette act
Resignation: Berth Kevin (director)Director discharge · Power of attorney4 facts ▸
State Gazette act
Resignation: Berth Kevin (director)
Director discharge · Power of attorney4 facts ▸
- General meeting, 23-07-2026
- Director resignation, Berth Kevin (director)
- Director discharge, Berth Kevin (director)
- Power of attorney, GEYO Accountancy BV
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 21 days late
2025
24-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 55 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-12
Financial
Highest result since 2018net €218,523 ▲74.8%
Operating result €358,733, net result €218,523, both a record.
31-12
Financial
Liquidity doublescurrent ratio 4.02
Current ratio from 1.84 to 4.02; short-term debt falls from €541,121 to €375,310.
31-12
Financial
Equity above €500,000Eq €574,998 ▲61.3%
3 profitable years in a row build equity to €574,998.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 1.84
Current ratio from 0.89 to 1.84; short-term debt falls from €822,165 to €541,121.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Back to profitnet €210,625
Net result €210,625 after 3 loss-making years.
31-12
Financial
Equity above €200,000Eq €231,464 ▲1,011%
Equity rises from €20,839 to €231,464.
Show earlier events
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet -€1,394
Net result drops to -€1,394, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
6 of this company's 7 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Halle · 1 establishment unit since 2012
Ground area
365 m²
Building footprint
264 m²
Volume, LiDAR
1,062 m³
Parcel 23027G0165/00T000, Flanders · tallest building 12.6 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
WKM CONSTRUCT
since 20122.207.692.878
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23027G0165/00T000 | Flanders | 365 m² | 1 · 264 m² | 12.6 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Berth Kevin |
|
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Of 11,757 companies in sector 68310 we hold annual accounts for 6,907. 4,269 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded28-02-2012
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
68321Property management for co-owned buildings (syndics)
Contact
Website
www.berth.be
E-mail
info@berth.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0844017685
Registered
14-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.