BERTULD
ActiveSummary
For the legal form of BERTULD, Checked does not compute a bankruptcy probability. The 2025 annual accounts show equity of €50.8m and a net result of €3.0m. Equity is growing by ~23.1% per year across the filed fiscal years. The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability51▼-30
Solvency100▲+16
Growth78=
Track record100
Credit verdict
Credit up to €2,000,000 at 30 days acceptable
Liquidity ample (current ratio 2.68 against 1.8 in 2024; short-term debt: 3.7% and cash: 0.1% of total assets), and 9.3% of the assets are financed with debt.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · A punctual record breaks
This company filed 8 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 9 filingsDeviation from the deadline
2025
31 d late
2024
21 d early
2023
41 d early
2022
32 d early
2021
45 d early
2020
128 d early
2019
43 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 40 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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. Usually files around 29 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€3.0m▲ 24.4%
2024 · €2.4m
Working capital
€3.5m▲ 142%
2024 · €1.4m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€18,269▼ 24.1%-€19,571▼ 7.1%-€15,592▲ 20.3%-€15,534▲ 0.4%-€15,374▲ 1.0%
Net result€1.2m▲ 34.2%€2.4m▲ 105%€2.6m▲ 8.9%€2.4m▼ 6.3%€3.0m▲ 24.4%
Equity€4.2m▲ 12.2%€5.7m▲ 35.6%€8.3m▲ 45.1%€8.3m▼ 0.9%€50.8m▲ 515%
Total assets€7.0m▲ 13.7%€7.8m▲ 11.6%€10.5m▲ 34.8%€14.0m▲ 32.5%€56.0m▲ 301%
Debt€2.8m▲ 16.2%€2.1m▼ 24.9%€2.2m▲ 6.4%€5.7m▲ 158%€5.2m▼ 9.2%
Working capital€1.4m€862,040▼ 37.7%€2.3m▲ 168%€1.4m▼ 38.1%€3.5m▲ 142%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €15,374 in 2025 against €15,534 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €56.0m
Fixed assets
€50.5m ▲ 369%
Current assets
€5.5m ▲ 72.0%
Equity and liabilities €56.0m
Equity
€50.8m ▲ 515%
Debt
€5.2m ▼ 9.2%
Debt's share of the balance-sheet total falls from 40.9% to 9.3%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
2.68▲
2024 · 1.80
Debt to equity
0.10▼
2024 · 0.69
ROE
5.9%▼
2024 · 29.4%
ROA
5.4%▼
2024 · 17.4%
Debt ≤ 1 year
€2.1m▲
2024 · €1.8m
Debt > 1 year
€3.1m▼
2024 · €3.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Gross operating margin9900 | -€18,269 | -€19,571 | -€15,592 | -€15,534 | -€15,374 | ▲ 1.0% |
| Operating profit (loss)9901 | -€18,269 | -€19,571 | -€15,592 | -€15,534 | -€15,374 | ▲ 1.0% |
| Financial income75/76B | €1.2m | €2.5m | €2.7m | €2.5m | €3.2m | ▲ 28.9% |
| Recurring financial income75 | €1.2m | €2.5m | €2.7m | €2.5m | €3.2m | ▲ 28.9% |
| Financial charges65/66B | €30,259 | €151,800 | €92,886 | €56,786 | €187,767 | ▲ 231% |
| Recurring financial charges65 | €30,259 | €151,800 | €92,886 | €56,786 | €187,767 | ▲ 231% |
| Profit (loss) for the period before taxes9903 | €1.2m | €2.4m | €2.6m | €2.4m | €3.0m | ▲ 24.4% |
| Profit (loss) for the period9904 | €1.2m | €2.4m | €2.6m | €2.4m | €3.0m | ▲ 24.4% |
| Profit (loss) for the period to be appropriated9905 | €1.2m | €2.4m | €2.6m | €2.4m | €3.0m | ▲ 24.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €7.0m | €7.8m | €10.5m | €14.0m | €56.0m | ▲ 301% |
| Fixed assets21/28 | €5.3m | €6.4m | €8.1m | €10.8m | €50.5m | ▲ 369% |
| Financial fixed assets28 | €5.3m | €6.4m | €8.1m | €10.8m | €50.5m | ▲ 369% |
| Current assets29/58 | €1.7m | €1.4m | €2.5m | €3.2m | €5.5m | ▲ 72.0% |
| Amounts receivable after more than one year29 | €1.2m | €1.3m | €2.0m | €2.6m | €2.7m | ▲ 2.2% |
| Trade receivables290 | €1.2m | €1.3m | €2.0m | €2.6m | €2.7m | ▲ 2.2% |
| Amounts receivable within one year40/41 | €337,562 | €55,979 | €423,999 | €525,729 | €2.8m | ▲ 435% |
| Other amounts receivable41 | €337,562 | €55,979 | €423,999 | €525,729 | €2.8m | ▲ 435% |
| Cash at bank and in hand54/58 | €112,763 | €61,349 | €6,713 | €63,509 | €28,638 | ▼ 54.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €7.0m | €7.8m | €10.5m | €14.0m | €56.0m | ▲ 301% |
| Equity10/15 | €4.2m | €5.7m | €8.3m | €8.3m | €50.8m | ▲ 515% |
| Contributions10/11 | €3.6m | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Capital10 | €3.6m | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Issued capital100 | €3.6m | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Uncalled capital101 | €58,500 | - | - | - | - | - |
| Revaluation surpluses12 | - | - | - | - | €39.5m | - |
| Reserves13 | €677,070 | €2.9m | €5.5m | €5.5m | €8.5m | ▲ 55.4% |
| Non-distributable reserves130/1 | €116,898 | €235,779 | €280,814 | €280,814 | €280,814 | = |
| Legal reserve130 | €116,898 | €235,779 | €280,814 | €280,814 | €280,814 | = |
| Distributable reserves133 | €560,173 | €2.7m | €5.2m | €5.2m | €8.2m | ▲ 58.4% |
| Amounts payable17/49 | €2.8m | €2.1m | €2.2m | €5.7m | €5.2m | ▼ 9.2% |
| Amounts payable after more than one year17 | €2.5m | €1.6m | €2.0m | €3.9m | €3.1m | ▼ 20.5% |
| Financial debts170/4 | - | €540,707 | €2.0m | €3.9m | €3.1m | ▼ 20.5% |
| Other amounts payable178/9 | €2.5m | €1.0m | - | - | - | - |
| Amounts payable within one year42/48 | €292,206 | €529,156 | €172,154 | €1.8m | €2.1m | ▲ 15.8% |
| Current portion of amounts payable after more than one year42 | - | €96,121 | €97,720 | €805,109 | €806,788 | ▲ 0.2% |
| Trade debts44 | - | - | €64 | - | - | - |
| Suppliers440/4 | - | - | €64 | - | - | - |
| Taxes, remuneration and social security45 | €210,000 | €36,000 | - | €750,000 | €750,000 | = |
| Taxes450/3 | €210,000 | €36,000 | - | €750,000 | €750,000 | = |
| Other amounts payable47/48 | €82,206 | €397,034 | €74,371 | €223,818 | €502,925 | ▲ 125% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.2m | €2.4m | €2.6m | €2.4m | €3.0m | ▲ 24.4% |
| Operating cash flow (approximation) | €1.2m | €2.4m | €2.6m | €2.4m | €3.0m | ▲ 24.4% |
| Investment in fixed assets (approximation) | - | -€1.1m | -€1.6m | -€2.7m | -€39.7m | ▼ 1,371% |
| Change in cash | - | -€51,414 | -€54,635 | €56,796 | -€34,872 | ▼ 161% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €3.0m ▲24.4%
Net result €3.0m, the highest in the series.
31-12
Financial
Equity above €50mEq €50.8m ▲515%
7 profitable years in a row build equity to €50.8m.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity times 5current ratio 14.40
Current ratio from 2.63 to 14.40; short-term debt falls from €529,156 to €172,154.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €5mEq €5.7m ▲35.6%
4 profitable years in a row build equity to €5.7m.
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity times 6current ratio 5.73
Current ratio from 0.99 to 5.73; short-term debt falls from €836,577 to €292,206.
25-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Back to profitnet €1.0m
Net result €1.0m after one loss-making year.
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
14-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Schaarbeek · 1 establishment unit since 2016
Ground area
2,784 m²
Building footprint
960 m²
Volume, LiDAR
22,336 m³
Parcel 21908E0238/00V007, Brussels · tallest building 28.6 m, ±8 floors. Linked by address, not a title deed.
1 establishment unit
BERTULD
since 20162.262.483.428
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21908E0238/00V007 | Brussels | 2,784 m² | 1 · 960 m² | 28.6 m · 8 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.
Structure & network
Owners and holdings
8 holdingsOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 8
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
According to the 2025 annual accounts of BERTULD and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Identification & contact
Identification
Legal formEuropese vennootschap (Societas Europaea)
Founded23-12-2016
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0668393445
Also
9925:BE0668393445
Registered
31-10-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.