BORTOLAMI
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 30 filings
Turnover
€167,683▼ 3.0%
2018 · €172,941
EBIT margin
68.3%▼ 5.9pp
2018 · 74.2%
Net result
€83,028▼ 12.8%
2024 · €95,167
Working capital
€340,042▼ 45.0%
2024 · €618,741
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 10% lower than in 2024.
Turnover€167,683
2019
Operating result€106,565
2025
Net result€83,028
2025
Total assets€736,269
2025
Equity€342,686
2025
Debt€393,583
2025
Working capital€340,042
2025
EBIT margin68.3%
2019
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€172,941-€167,683▼ 3.0%
Operating result€128,360-€114,559▼ 10.8%€163,149▲ 42.4%€192,062▲ 17.7%€132,683▼ 30.9%€101,218▼ 23.7%€118,716▲ 17.3%€106,565▼ 10.2%
Net result€79,709-€83,298▲ 4.5%€119,618▲ 43.6%€136,105▲ 13.8%€98,091▼ 27.9%€84,945▼ 13.4%€95,167▲ 12.0%€83,028▼ 12.8%
EBIT margin74.2%-68.3%▼ 5.9pp
Equity€538,205-€453,832▼ 15.7%€554,195▲ 22.1%€611,801▲ 10.4%€644,208▲ 5.3%€721,431▲ 12.0%€621,941▼ 13.8%€342,686▼ 44.9%
Total assets€603,882-€656,979▲ 8.8%€672,854▲ 2.4%€792,284▲ 17.7%€783,663▼ 1.1%€771,583▼ 1.5%€851,014▲ 10.3%€736,269▼ 13.5%
Debt€64,453-€203,147▲ 215%€118,659▼ 41.6%€180,483▲ 52.1%€139,455▼ 22.7%€50,152▼ 64.0%€229,073▲ 357%€393,583▲ 71.8%
Working capital€535,407-€453,832▼ 15.2%€535,803▲ 18.1%€602,485▲ 12.4%€643,856▲ 6.9%€728,689▲ 13.2%€618,741▼ 15.1%€340,042▼ 45.0%
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €736,269
Fixed assets
€2,645 ▼ 17.3%
Current assets
€733,624 ▼ 13.5%
Equity and liabilities €736,269
Equity
€342,686 ▼ 44.9%
Debt
€393,583 ▲ 71.8%
Debt's share of the balance-sheet total rises from 26.9% to 53.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€107,120▼
2024 · €119,272
Cash flow
€83,583▼
2024 · €95,723
Current ratio
1.86▼
2024 · 3.70
Debt to equity
1.15▲
2024 · 0.37
ROE
24.2%▲
2024 · 15.3%
ROA
11.3%▲
2024 · 11.2%
Interest coverage
81.01▲
2024 · 64.51
Debt ≤ 1 year
€393,583▲
2024 · €229,073
Income taxes
€39,935▲
2024 · €37,576
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Companies with the same profile, two years later
Historical observationIn July 2024, 20,136 companies had the same profile as BORTOLAMI has now. Two years later, 0.2% had gone bankrupt and 95.0% were still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95.0%
was still going
That fits the bankruptcy probability of BORTOLAMI itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,445 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 20,136 companies, not a prediction for BORTOLAMI. 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.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €172,941 | €167,683 | - | - | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,748 | €10,424 | €1,377 | €20,759 | €20,759 | €19,517 | €556 | €555 | ▼ 0.2% |
| Other operating charges640/8 | - | - | - | €185 | €185 | €292 | €184 | €312 | ▲ 69.4% |
| Gross operating margin9900 | €139,550 | €125,169 | €164,711 | €213,006 | €153,627 | €121,027 | €119,456 | €107,432 | ▼ 10.1% |
| Operating profit (loss)9901 | €128,360 | €114,559 | €163,149 | €192,062 | €132,683 | €101,218 | €118,716 | €106,565 | ▼ 10.2% |
| Financial income75/76B | - | - | - | €13,752 | €13,781 | €15,479 | €15,876 | €17,719 | ▲ 11.6% |
| Recurring financial income75 | €19,179 | €19,859 | €14,548 | €13,752 | €13,781 | €15,479 | €15,876 | €17,719 | ▲ 11.6% |
| Financial charges65/66B | - | - | - | €1,443 | €1,305 | €2,019 | €1,849 | €1,322 | ▼ 28.5% |
| Recurring financial charges65 | €4,126 | €1,197 | €1,354 | €1,443 | €1,305 | €2,019 | €1,849 | €1,322 | ▼ 28.5% |
| Profit (loss) for the period before taxes9903 | €136,634 | €133,221 | €176,343 | €204,371 | €145,159 | €114,678 | €132,743 | €122,962 | ▼ 7.4% |
| Income taxes67/77 | €56,925 | €51,147 | €56,726 | €68,266 | €47,068 | €29,732 | €37,576 | €39,935 | ▲ 6.3% |
| Profit (loss) for the period9904 | €79,709 | €83,298 | €119,618 | €136,105 | €98,091 | €84,945 | €95,167 | €83,028 | ▼ 12.8% |
| Transfer from tax-exempt reserves789 | - | - | - | €8,469 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €80,932 | €127,498 | €119,618 | €144,574 | €98,091 | €84,945 | €95,167 | €83,028 | ▼ 12.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €603,882 | €656,979 | €672,854 | €792,284 | €783,663 | €771,583 | €851,014 | €736,269 | ▼ 13.5% |
| Fixed assets21/28 | €10,425 | €0 | €64,790 | €44,031 | €23,273 | €3,756 | €3,200 | €2,645 | ▼ 17.3% |
| Tangible fixed assets22/27 | €10,425 | €0 | €64,790 | €44,031 | €23,273 | €3,756 | €3,200 | €2,645 | ▼ 17.3% |
| Plant, machinery and equipment23 | - | - | - | €1,058 | €495 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €38,108 | €18,467 | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | €4,866 | €4,311 | €3,756 | €3,200 | €2,645 | ▼ 17.3% |
| Current assets29/58 | €593,457 | €656,979 | €608,064 | €748,252 | €760,390 | €767,827 | €847,814 | €733,624 | ▼ 13.5% |
| Amounts receivable after more than one year29 | - | - | - | €461,000 | €461,000 | €298,000 | €498,000 | €278,000 | ▼ 44.2% |
| Other amounts receivable291 | - | - | - | €461,000 | €461,000 | €298,000 | €498,000 | €278,000 | ▼ 44.2% |
| Amounts receivable within one year40/41 | €2,827 | €58,563 | €9,345 | €31,263 | €30,240 | €208,070 | €75,152 | €188,028 | ▲ 150% |
| Trade receivables40 | - | - | - | - | - | - | - | €1,232 | - |
| Other amounts receivable41 | - | - | - | €31,263 | €30,240 | €208,070 | €75,152 | €186,796 | ▲ 149% |
| Cash at bank and in hand54/58 | €119,020 | €123,095 | €145,453 | €251,102 | €262,830 | €250,964 | €267,772 | €254,605 | ▼ 4.9% |
| Deferred charges and accrued income490/1 | - | - | - | €4,888 | €6,320 | €10,793 | €6,890 | €12,992 | ▲ 88.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €603,882 | €656,979 | €672,854 | €792,284 | €783,663 | €771,583 | €851,014 | €736,269 | ▼ 13.5% |
| Equity10/15 | €538,205 | €453,832 | €554,195 | €611,801 | €644,208 | €721,431 | €621,941 | €342,686 | ▼ 44.9% |
| Contributions10/11 | €87,268 | €87,268 | - | €87,268 | €87,268 | €87,268 | €87,268 | €87,268 | = |
| Reserves13 | €450,937 | €366,564 | €466,927 | €524,533 | €556,939 | €634,162 | €534,673 | €255,418 | ▼ 52.2% |
| Non-distributable reserves130/1 | - | - | - | €8,727 | €8,727 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €8,727 | €8,727 | - | - | - | - |
| Distributable reserves133 | - | - | - | €515,806 | €548,212 | €634,162 | €534,673 | €255,418 | ▼ 52.2% |
| Provisions and deferred taxes16 | €1,224 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €64,453 | €203,147 | €118,659 | €180,483 | €139,455 | €50,152 | €229,073 | €393,583 | ▲ 71.8% |
| Amounts payable after more than one year17 | €3,382 | - | €46,398 | €34,715 | €22,921 | €11,014 | - | - | - |
| Financial debts170/4 | - | - | - | €34,715 | €22,921 | €11,014 | - | - | - |
| Amounts payable within one year42/48 | €58,050 | €203,147 | €72,261 | €145,767 | €116,534 | €39,138 | €229,073 | €393,583 | ▲ 71.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €33,350 | €25,049 | €25,471 | €24,592 | €13,481 | ▼ 45.2% |
| Trade debts44 | €620 | €1,001 | €4,048 | €2,736 | €1,534 | €5,944 | €307 | - | - |
| Suppliers440/4 | - | - | - | €2,736 | €1,534 | €5,944 | €307 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €31,184 | €27,551 | €7,722 | €20,131 | €39,574 | ▲ 96.6% |
| Taxes450/3 | - | - | - | €31,184 | €27,551 | €7,722 | €20,131 | €39,574 | ▲ 96.6% |
| Other amounts payable47/48 | - | - | - | €78,498 | €62,401 | - | €184,043 | €340,528 | ▲ 85.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €79,709 | €83,298 | €119,618 | €136,105 | €98,091 | €84,945 | €95,167 | €83,028 | ▼ 12.8% |
| + Depreciation and write-downs630 | €10,748 | €10,424 | €1,377 | €20,759 | €20,759 | €19,517 | €556 | €555 | ▼ 0.2% |
| Operating cash flow (approximation) | €90,456 | €93,722 | €120,995 | €156,864 | €118,850 | €104,462 | €95,723 | €83,583 | ▼ 12.7% |
| Investment in fixed assets (approximation) | - | €0 | -€66,168 | €0 | €0 | €0 | €0 | -€0 | - |
| Change in cash | - | €4,075 | €22,358 | €105,649 | €11,728 | -€11,865 | €16,808 | -€13,168 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00238828 | NBB |
| 31-12-2024 | micro format | 05-08-2025 | 2025-00362723 | |
| 31-12-2023 | micro format | 21-08-2024 | 2024-00360113 | |
| 31-12-2022 | micro format | 20-06-2023 | 2023-00148856 | |
| 31-12-2021 | micro format | 19-08-2022 | 2022-20304624 | |
| 31-12-2020 | micro format | 06-07-2021 | 2021-31800536 | |
| 31-12-2019 | micro format | 22-06-2020 | 2020-19400126 | |
| 31-12-2018 | micro format | 02-07-2019 | 2019-28200512 | |
| 31-12-2017 | micro format | 13-08-2018 | 2018-45500271 | |
| 31-12-2016 | micro format | 28-06-2017 | 2017-23300047 |