Summary
BERTMAL is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.9m and a net result of €192,959. Equity is growing by about 12% per year across the filed financial years. Its solvency ranks better than 75% of 3,015 sector peers (NACE 64, financial year 2025). The company has been active since 2014 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- €1.9m
- Profit
- €192,959
- Holdings
- 1
SignalsneutralLatest accounts filed on timeShow the evidence
Checked score
This is a financial institution (bank, insurer or financial holding). A bank balance sheet works differently from that of an ordinary trading or manufacturing company. We therefore show no bankruptcy probability rather than a misleading figure.
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Signals
This company filed its last 7 accounts on average 10 days after the deadline; the sector median (NACE 64) for financial year 2024 is 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Annual accounts filedfinancial year 2024 · full…
- Annual accounts filedfinancial year 2023 · full…
Financials · financial year 2025, full format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen two years in a row; 2025 is 6% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
- 2021 Net result +104% on 2020. The accounts now follow the micro format, last year the full format.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €348 | €5,146 | €4,800 | €4,800 | €5,174 | €5,299 | €3,975 | €5,299 | ▲ 33.3% |
| Other operating charges640/8 | - | - | - | €2,026 | €4,414 | €3,201 | €2,320 | €4,283 | ▲ 84.6% |
| Gross operating margin9900 | €52,708 | €57,166 | €75,357 | €21,947 | €83,787 | €85,622 | €79,420 | €78,498 | ▼ 1.2% |
| Operating profit (loss)9901 | €51,492 | €49,230 | €68,540 | €15,121 | €74,199 | €77,121 | €73,126 | €68,916 | ▼ 5.8% |
| Financial income75/76B | - | - | - | €250,687 | €301,269 | €199,840 | €278,252 | €166,182 | ▼ 40.3% |
| Recurring financial income75 | €140,126 | €184,892 | €79,936 | €250,687 | €301,269 | €199,840 | €278,252 | €166,182 | ▼ 40.3% |
| Financial charges65/66B | - | - | - | €9,772 | €8,099 | €6,450 | €2,924 | €7,730 | ▲ 164% |
| Recurring financial charges65 | €13,032 | €13,179 | €11,134 | €9,772 | €8,099 | €6,450 | €2,924 | €7,730 | ▲ 164% |
| Profit (loss) for the period before taxes9903 | €178,586 | €220,943 | €137,342 | €256,036 | €367,369 | €270,512 | €348,454 | €227,367 | ▼ 34.7% |
| Income taxes67/77 | €24,126 | €22,033 | €24,032 | €24,870 | €46,929 | €38,071 | €47,459 | €34,408 | ▼ 27.5% |
| Profit (loss) for the period9904 | €154,460 | €198,910 | €113,310 | €231,166 | €320,440 | €232,441 | €300,995 | €192,959 | ▼ 35.9% |
| Profit (loss) for the period to be appropriated9905 | €154,460 | €198,910 | €113,310 | €231,166 | €320,440 | €232,441 | €300,995 | €192,959 | ▼ 35.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.2m | €1.5m | €1.5m | €1.6m | €1.8m | €1.9m | €2.2m | €2.2m | ▲ 0.6% |
| Fixed assets21/28 | €1.2m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | ▼ 0.4% |
| Tangible fixed assets22/27 | €346 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 2.7% |
| Land and buildings22 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 2.4% |
| Furniture and vehicles24 | - | - | - | - | €0.002m | €0.002m | €0.001m | €0.001m | ▼ 40.0% |
| Financial fixed assets28 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Current assets29/58 | €0.02m | €0.04m | €0.02m | €0.2m | €0.3m | €0.5m | €0.8m | €0.8m | ▲ 2.3% |
| Amounts receivable within one year40/41 | - | €0.02m | €0.003m | €0.1m | €0.002m | €92 | €0.3m | €0.4m | ▲ 56.5% |
| Trade receivables40 | - | - | - | - | - | €69 | - | €0.001m | - |
| Other amounts receivable41 | - | - | - | €0.1m | €0.002m | €23 | €0.3m | €0.4m | ▲ 55.9% |
| Current investments50/53 | - | - | - | - | - | €0.3m | - | - | - |
| Cash at bank and in hand54/58 | €0.02m | €0.02m | €0.02m | €0.07m | €0.3m | €0.2m | €0.5m | €0.4m | ▼ 27.8% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €0.01m | - | €0.02m | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.2m | €1.5m | €1.5m | €1.6m | €1.8m | €1.9m | €2.2m | €2.2m | ▲ 0.6% |
| Equity10/15 | €0.8m | €0.9m | €1.0m | €1.3m | €1.5m | €1.6m | €1.7m | €1.9m | ▲ 11.2% |
| 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 | €0.4m | €0.6m | €0.7m | €1.0m | €1.2m | €1.3m | €1.4m | €1.6m | ▲ 13.6% |
| 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 | = |
| Distributable reserves133 | - | - | - | €1.0m | €1.2m | €1.3m | €1.4m | €1.6m | ▲ 13.8% |
| Profit (loss) carried forward14 | €0.1m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Amounts payable17/49 | €0.5m | €0.5m | €0.4m | €0.3m | €0.3m | €0.4m | €0.5m | €0.3m | ▼ 38.5% |
| Amounts payable after more than one year17 | €0.3m | €0.4m | €0.3m | €0.3m | €0.2m | €0.1m | €0.06m | €0.04m | ▼ 30.1% |
| Financial debts170/4 | - | - | - | €0.3m | €0.2m | €0.1m | €0.06m | €0.04m | ▼ 30.1% |
| Amounts payable within one year42/48 | €0.2m | €0.1m | €0.08m | €0.07m | €0.09m | €0.2m | €0.4m | €0.2m | ▼ 39.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.07m | €0.07m | €0.07m | €0.1m | €0.02m | ▼ 81.8% |
| Trade debts44 | €0.008m | €0.003m | €229 | - | €242 | €59 | €0.001m | €0.001m | ▼ 16.8% |
| Suppliers440/4 | - | - | - | - | €242 | €59 | €0.001m | €0.001m | ▼ 16.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.001m | €0.02m | €0.04m | €0.03m | €0.02m | ▼ 41.7% |
| Taxes450/3 | - | - | - | €0.001m | €0.02m | €0.04m | €0.03m | €0.02m | ▼ 48.3% |
| Remuneration and social security454/9 | - | - | - | - | - | - | - | €0.002m | - |
| Other amounts payable47/48 | - | - | - | - | - | €0.1m | €0.3m | €0.2m | ▼ 22.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €154,460 | €198,910 | €113,310 | €231,166 | €320,440 | €232,441 | €300,995 | €192,959 | ▼ 35.9% |
| + Depreciation and write-downs630 | €348 | €5,146 | €4,800 | €4,800 | €5,174 | €5,299 | €3,975 | €5,299 | ▲ 33.3% |
| Operating cash flow (approximation) | €154,808 | €204,056 | €118,110 | €235,966 | €325,614 | €237,740 | €304,970 | €198,259 | ▼ 35.0% |
| Investment in fixed assets (approximation) | - | -€224,529 | €0 | €0 | -€2,499 | -€0 | €0 | €0 | - |
| Change in cash | - | €5,010 | -€1,182 | €51,664 | €260,399 | -€129,991 | €312,050 | -€142,846 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 31-07-2026 | 2026-00378110 |
| 31-12-2024 | full format | 30-09-2025 | 2025-00515810 |
| 31-12-2023 | full format | 12-07-2024 | 2024-00241667 |
| 31-12-2022 | full format | 31-07-2023 | 2023-00304872 |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20411162 |
| 31-12-2020 | full format | 30-07-2021 | 2021-43600539 |
| 31-12-2019 | micro format | 31-07-2020 | 2020-37500593 |
| 31-12-2018 | full format | 31-07-2019 | 2019-42400459 |
| 31-12-2017 | full format | 31-07-2018 | 2018-41100589 |
| 31-12-2016 | full format | 31-07-2017 | 2017-38600301 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Holdings and subsidiaries
1 holdingHoldings 1
-
99.9%
According to the 2025 annual accounts of BERTMAL and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
No directors read yet: 0 of 3 Gazette acts processed.
History
Acts, filings and financial milestones
About the unread acts
We know of 3 Belgian Official Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Legal Entity Identifier
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21819D0106/00W007 | Brussels | 1,230 m² | 1 · 353 m² | 13.7 m · 4 |