BERVA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-10-2025 PDF all 17 filings
Turnover
≈ €4,700
Estimated: probably between €2,200 and €11,000
Total assets
€140,899▼ 26.6%
2024 · €192,072
Net result
-€3,677
2024 · €38,980
Working capital
-€38,933▼ 0.1%
2024 · -€38,895
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€3,634
2025
20192025
Net result
-€3,677
2025
middle half of the sector
20192025
Equity
-€13,257
▼ 38.4%
2025
lowest quarter of the sector
20192025
Total assets
€140,899
▼ 26.6%
2025
middle half of the sector
20192025
Debt
€154,156
▼ 23.6%
2025
20192025
Working capital
-€38,933
▼ 0.1%
2025
middle half of the sector
20192025
Solvency
-9.4%
▼ 4.4pp
2025
lowest quarter of the sector
20192025
Current ratio
0.75
▼ 0.06
2025
middle half of the sector
20192025
Return on assets (ROA)
-2.6%
▼ 22.9pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€29,080-€12,370▼ 57.5%-€27,572-€56,513▼ 105%-€1,683▲ 97.0%€39,031-€3,634
Net result€27,314-€9,536within the sector's middle half▼ 65.1%-€27,603below the sector's middle half-€56,557below the sector's middle half▼ 105%-€1,758within the sector's middle half▲ 96.9%€38,980above the sector's middle half-€3,677within the sector's middle half
Equity€27,823-€37,358within the sector's middle half▲ 34.3%€9,755below the sector's middle half▼ 73.9%-€46,801below the sector's middle half-€48,559below the sector's middle half▼ 3.8%-€9,579below the sector's middle half▲ 80.3%-€13,257below the sector's middle half▼ 38.4%
Total assets€159,484-€241,372within the sector's middle half▲ 51.3%€168,021within the sector's middle half▼ 30.4%€126,667below the sector's middle half▼ 24.6%€154,731within the sector's middle half▲ 22.2%€192,072within the sector's middle half▲ 24.1%€140,899within the sector's middle half▼ 26.6%
Debt€131,661-€204,014▲ 55.0%€158,266▼ 22.4%€173,468▲ 9.6%€203,291▲ 17.2%€201,652▼ 0.8%€154,156▼ 23.6%
Working capital-€40,569--€25,301within the sector's middle half▲ 37.6%-€31,313within the sector's middle half▼ 23.8%-€71,501below the sector's middle half▼ 128%-€85,115below the sector's middle half▼ 19.0%-€38,895within the sector's middle half▲ 54.3%-€38,933within the sector's middle half▼ 0.1%
Solvency17.4%-15.5%within the sector's middle half▼ 2.0pp5.8%below the sector's middle half▼ 9.7pp-36.9%below the sector's middle half▼ 42.8pp-31.4%below the sector's middle half▲ 5.6pp-5.0%below the sector's middle half▲ 26.4pp-9.4%below the sector's middle half▼ 4.4pp
Current ratio0.69-0.88within the sector's middle half▲ 0.180.80within the sector's middle half▼ 0.070.59within the sector's middle half▼ 0.210.58within the sector's middle half▼ 0.010.81within the sector's middle half▲ 0.230.75within the sector's middle half▼ 0.06
Return on assets (ROA)17.1%-4.0%within the sector's middle half▼ 13.2pp-16.4%below the sector's middle half▼ 20.4pp-44.7%below the sector's middle half▼ 28.2pp-1.1%within the sector's middle half▲ 43.5pp20.3%above the sector's middle half▲ 21.4pp-2.6%below the sector's middle half▼ 22.9pp
above
within
below
The sector band is the middle half of the companies in Crop and animal production, hunting and related service activities (NACE 01). 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 a loss of €3,634, after a profit of €39,031 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €140,899
Fixed assets
€25,676 ▼ 12.4%
Current assets
€115,223 ▼ 29.2%
Equity and liabilities
Equity-€13,257
Debt€154,156
Equity is negative. Debt (€154,156) exceeds the balance-sheet total (€140,899).
Key figures and ratios
EBITDA
€6▼
2024 · €46,271
Cash flow
-€37▼
2024 · €46,220
Quick ratio
0.35▼
2024 · 0.55
Interest coverage
0.14▼
2024 · over 100
Debt ≤ 1 year
€154,156▼
2024 · €201,652
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €18,200 | - | - |
| Intangible fixed assets | - | - | - | €0 |
| Depreciation and write-downs of the year | €16,369 | €6,344 | €7,240 | €3,640 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,702 | €23,733 | €21,591 | €16,369 | €6,344 | €7,240 | €3,640 | ▼ 49.7% |
| Other operating charges640/8 | - | - | - | €920 | €914 | €948 | €1,244 | ▲ 31.2% |
| Gross operating margin9900 | €59,816 | €36,983 | -€5,069 | -€39,224 | €5,575 | €47,218 | €1,250 | ▼ 97.4% |
| Operating profit (loss)9901 | €29,080 | €12,370 | -€27,572 | -€56,513 | -€1,683 | €39,031 | -€3,634 | - |
| Financial income75/76B | - | - | - | - | €3 | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €113 | - | - | - | €3 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €44 | €77 | €51 | €44 | ▼ 14.3% |
| Recurring financial charges65 | €27 | €211 | €31 | €44 | €77 | €51 | €44 | ▼ 14.3% |
| Profit (loss) for the period before taxes9903 | €29,166 | €12,158 | -€27,603 | -€56,557 | -€1,758 | €38,980 | -€3,677 | - |
| Income taxes67/77 | €1,853 | €2,623 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €27,314 | €9,536 | -€27,603 | -€56,557 | -€1,758 | €38,980 | -€3,677 | - |
| Profit (loss) for the period to be appropriated9905 | €27,314 | €9,536 | -€27,603 | -€56,557 | -€1,758 | €38,980 | -€3,677 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €159,484 | €241,372 | €168,021 | €126,667 | €154,731 | €192,072 | €140,899 | ▼ 26.6% |
| Fixed assets21/28 | €68,392 | €62,659 | €41,069 | €24,700 | €36,556 | €29,316 | €25,676 | ▼ 12.4% |
| Tangible fixed assets22/27 | €50,892 | €45,159 | €23,569 | €7,200 | €19,056 | €11,816 | €8,176 | ▼ 30.8% |
| Plant, machinery and equipment23 | - | - | - | €7,200 | €19,056 | €11,816 | €8,176 | ▼ 30.8% |
| Financial fixed assets28 | €17,500 | €17,500 | €17,500 | €17,500 | €17,500 | €17,500 | €17,500 | = |
| Current assets29/58 | €91,092 | €178,713 | €126,952 | €101,967 | €118,175 | €162,756 | €115,223 | ▼ 29.2% |
| Stocks and contracts in progress3 | €73,740 | €76,943 | €74,408 | €64,554 | €65,272 | €52,445 | €60,971 | ▲ 16.3% |
| Stocks30/36 | - | - | - | €64,554 | €65,272 | €52,445 | €60,971 | ▲ 16.3% |
| Amounts receivable within one year40/41 | €173 | €38,395 | €26,595 | €25,562 | €18,599 | €55,896 | €12,243 | ▼ 78.1% |
| Trade receivables40 | - | - | - | €22,893 | €17,065 | €55,896 | €1,281 | ▼ 97.7% |
| Other amounts receivable41 | - | - | - | €2,669 | €1,535 | €0 | €10,962 | - |
| Cash at bank and in hand54/58 | €16,179 | €62,104 | €24,671 | €10,962 | €31,725 | €52,532 | €40,986 | ▼ 22.0% |
| Deferred charges and accrued income490/1 | - | - | - | €888 | €2,578 | €1,884 | €1,023 | ▼ 45.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €159,484 | €241,372 | €168,021 | €126,667 | €154,731 | €192,072 | €140,899 | ▼ 26.6% |
| Equity10/15 | €27,823 | €37,358 | €9,755 | -€46,801 | -€48,559 | -€9,579 | -€13,257 | ▼ 38.4% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €0 | ▼ 100% |
| Distributable reserves133 | - | - | - | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €7,363 | €16,898 | -€10,705 | -€67,261 | -€69,019 | -€30,039 | -€33,717 | ▼ 12.2% |
| Amounts payable17/49 | €131,661 | €204,014 | €158,266 | €173,468 | €203,291 | €201,652 | €154,156 | ▼ 23.6% |
| Amounts payable within one year42/48 | €131,661 | €204,014 | €158,266 | €173,468 | €203,291 | €201,652 | €154,156 | ▼ 23.6% |
| Trade debts44 | €20,594 | €97,668 | €55,542 | €70,852 | €100,675 | €98,128 | €48,774 | ▼ 50.3% |
| Suppliers440/4 | - | - | - | €70,852 | €100,675 | €98,128 | €48,774 | ▼ 50.3% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €908 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | - | - | €908 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €102,616 | €102,616 | €102,616 | €105,383 | ▲ 2.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,314 | €9,536 | -€27,603 | -€56,557 | -€1,758 | €38,980 | -€3,677 | - |
| + Depreciation and write-downs630 | €28,702 | €23,733 | €21,591 | €16,369 | €6,344 | €7,240 | €3,640 | ▼ 49.7% |
| Operating cash flow (approximation) | €56,015 | €33,268 | -€6,012 | -€40,188 | €4,586 | €46,220 | -€37 | - |
| Investment in fixed assets (approximation) | - | -€18,000 | €0 | €0 | -€18,200 | €0 | €0 | - |
| Change in cash | - | €45,925 | -€37,433 | -€13,709 | €20,763 | €20,807 | -€11,546 | - |
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, 2,333 companies had the same profile as BERVA has now. Two years later, 90.6% were still going and 2.8% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
90.6%
was still going
5.8%
stopped otherwise
2.8%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BERVA itself is lower: 0.4% within 12 months. It rests on far more data about BERVA than the profile alone.
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 2,333 companies, not a prediction for BERVA. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 29-10-2025 | 2025-00553293 | |
| 31-03-2024 | micro format | 30-10-2024 | 2024-00521720 | |
| 31-03-2023 | micro format | 27-10-2023 | 2023-00503356 | |
| 31-03-2022 | micro format | 20-10-2022 | 2022-20471342 | |
| 31-03-2021 | micro format | 28-10-2021 | 2021-74900342 | |
| 31-03-2020 | micro format | 16-11-2020 | 2020-70700004 | |
| 31-03-2019 | micro format | 11-10-2019 | 2019-69800147 | |
| 31-03-2018 | micro format | 17-10-2018 | 2018-69500115 | |
| 31-03-2017 | micro format | 02-10-2017 | 2017-66100179 | |
| 31-03-2016 | abbreviated format | 22-09-2016 | 2016-60400559 |