Elektro Bart
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 17-07-2026 at the NBB all 34 filings
Turnover
≈ €680,000
Estimated: probably between €590,000 and €840,000
EBIT margin
Not included in this filing
Net result
€133,210▲ 32.6%
2024 · €100,484
Working capital
€824,824▲ 2.7%
2024 · €803,164
In the rankings
#7 company by equity in Zoersel, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€190,657
▲ 33.1%
2025
20182025
Net result
€133,210
▲ 32.6%
2025
middle half of the sector
20182025
Equity
€856,020
▼ 0.3%
2025
middle half of the sector
20182025
Total assets
€895,187
▼ 0.3%
2025
middle half of the sector
20182025
Debt
€39,167
▲ 0.5%
2025
20182025
Working capital
€824,824
▲ 2.7%
2025
middle half of the sector
20182025
Solvency
95.6%
=
2025
highest quarter of the sector
20182025
Current ratio
22.09
▲ 0.48
2025
highest quarter of the sector
20182025
Return on assets (ROA)
14.9%
▲ 3.7pp
2025
highest quarter of the sector
20182025
Staff (FTE)
2
=
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€151,382-€204,030▲ 34.8%€283,720▲ 39.1%€219,422▼ 22.7%€39,964▼ 81.8%€201,709▲ 405%€143,192▼ 29.0%€190,657▲ 33.1%
Net result€103,452-€135,942▲ 31.4%€196,793above the sector's middle half▲ 44.8%€153,676above the sector's middle half▼ 21.9%€26,472within the sector's middle half▼ 82.8%€139,714above the sector's middle half▲ 428%€100,484within the sector's middle half▼ 28.1%€133,210within the sector's middle half▲ 32.6%
Equity€436,121-€572,063▲ 31.2%€768,856above the sector's middle half▲ 34.4%€847,003above the sector's middle half▲ 10.2%€722,005above the sector's middle half▼ 14.8%€861,719above the sector's middle half▲ 19.4%€858,752above the sector's middle half▼ 0.3%€856,020within the sector's middle half▼ 0.3%
Total assets€790,508-€628,842▼ 20.5%€818,096within the sector's middle half▲ 30.1%€883,800within the sector's middle half▲ 8.0%€769,844within the sector's middle half▼ 12.9%€902,561within the sector's middle half▲ 17.2%€897,718within the sector's middle half▼ 0.5%€895,187within the sector's middle half▼ 0.3%
Debt€354,387-€56,779▼ 84.0%€49,239▼ 13.3%€36,797▼ 25.3%€47,838▲ 30.0%€40,842▼ 14.6%€38,966▼ 4.6%€39,167▲ 0.5%
Working capital€414,086-€515,906▲ 24.6%€724,512above the sector's middle half▲ 40.4%€798,010above the sector's middle half▲ 10.1%€606,183above the sector's middle half▼ 24.0%€782,116above the sector's middle half▲ 29.0%€803,164above the sector's middle half▲ 2.7%€824,824within the sector's middle half▲ 2.7%
Solvency55.2%-91.0%▲ 35.8pp94.0%above the sector's middle half▲ 3.0pp95.8%above the sector's middle half▲ 1.9pp93.8%above the sector's middle half▼ 2.1pp95.5%above the sector's middle half▲ 1.7pp95.7%above the sector's middle half▲ 0.2pp95.6%above the sector's middle half=
Current ratio2.19-11.17▲ 8.9815.76above the sector's middle half▲ 4.6022.69above the sector's middle half▲ 6.9213.67above the sector's middle half▼ 9.0220.15above the sector's middle half▲ 6.4821.61above the sector's middle half▲ 1.4622.09above the sector's middle half▲ 0.48
Return on assets (ROA)13.1%-21.6%▲ 8.5pp24.1%above the sector's middle half▲ 2.4pp17.4%above the sector's middle half▼ 6.7pp3.4%within the sector's middle half▼ 13.9pp15.5%above the sector's middle half▲ 12.0pp11.2%within the sector's middle half▼ 4.3pp14.9%above the sector's middle half▲ 3.7pp
Staff (FTE)2-2=2below the sector's middle half=2below the sector's middle half=2below the sector's middle half=2within the sector's middle half=2within the sector's middle half=2below the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 33% higher than in 2024. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €895,187
Fixed assets
€31,250 ▼ 43.8%
Current assets
€863,937 ▲ 2.6%
Equity and liabilities €895,187
Equity
€856,020 ▼ 0.3%
Debt
€39,167 ▲ 0.5%
Debt's share of the balance-sheet total stays at 4.4%.
Key figures and ratios
EBITDA
€215,668▲
2024 · €168,408
Cash flow
€158,222▲
2024 · €125,701
Quick ratio
21.95▲
2024 · 21.38
Debt to equity
0.05▲
2024 · 0.05
ROE
15.6%▲
2024 · 11.7%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€39,113▲
2024 · €38,966
Income taxes
€58,231▲
2024 · €43,082
Staff costs
€80,305=
2024 · €80,331
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 | 2 | 2 |
| full-time | 2 | 2 | 2 | 2 | 2 |
| in full-time equivalents | 2 | 2 | 2 | 2 | 2 |
| Average over the year, in full-time equivalents | 2 | 2 | 2 | 2 | 2 |
| On a permanent contract | 2 | 2 | 2 | 2 | 2 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €26,717 | €95,170 | €764 | €1,201 | €673 |
| Depreciation and write-downs of the year | €22,237 | €28,341 | €36,984 | €25,216 | €25,012 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2,715 | €2,500 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €94,593 | €68,220 | €69,276 | €80,331 | €80,305 | = |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,393 | €24,721 | €18,546 | €22,237 | €28,341 | €36,984 | €25,216 | €25,012 | ▼ 0.8% |
| Other operating charges640/8 | - | - | - | €2,591 | €2,883 | €2,802 | €2,671 | €7,828 | ▲ 193% |
| Gross operating margin9900 | €288,287 | €356,130 | €386,317 | €338,843 | €139,407 | €310,771 | €251,410 | €303,801 | ▲ 20.8% |
| Operating profit (loss)9901 | €151,382 | €204,030 | €283,720 | €219,422 | €39,964 | €201,709 | €143,192 | €190,657 | ▲ 33.1% |
| Financial income75/76B | - | - | - | €833 | €25 | €854 | €1,097 | €1,664 | ▲ 51.7% |
| Recurring financial income75 | €631 | €218 | €147 | €833 | €25 | €854 | €1,097 | €1,664 | ▲ 51.7% |
| Financial charges65/66B | - | - | - | €448 | €658 | €534 | €722 | €879 | ▲ 21.6% |
| Recurring financial charges65 | €351 | €487 | €296 | €448 | €658 | €534 | €722 | €879 | ▲ 21.6% |
| Profit (loss) for the period before taxes9903 | €151,661 | €203,761 | €283,570 | €219,807 | €39,331 | €202,029 | €143,566 | €191,442 | ▲ 33.3% |
| Income taxes67/77 | €48,210 | €67,819 | €86,777 | €66,131 | €12,860 | €62,315 | €43,082 | €58,231 | ▲ 35.2% |
| Profit (loss) for the period9904 | €103,452 | €135,942 | €196,793 | €153,676 | €26,472 | €139,714 | €100,484 | €133,210 | ▲ 32.6% |
| Profit (loss) for the period to be appropriated9905 | €103,452 | €135,942 | €196,793 | €153,676 | €26,472 | €139,714 | €100,484 | €133,210 | ▲ 32.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €790,508 | €628,842 | €818,096 | €883,800 | €769,844 | €902,561 | €897,718 | €895,187 | ▼ 0.3% |
| Fixed assets21/28 | €29,249 | €62,200 | €44,513 | €48,994 | €115,823 | €79,603 | €55,588 | €31,250 | ▼ 43.8% |
| Tangible fixed assets22/27 | €28,652 | €61,603 | €43,916 | €48,396 | €115,226 | €79,006 | €54,991 | €30,653 | ▼ 44.3% |
| Land and buildings22 | - | - | - | €1,746 | €1,309 | €873 | €436 | - | - |
| Plant, machinery and equipment23 | - | - | - | €2,910 | €1,935 | €1,023 | €1,386 | €1,339 | ▼ 3.4% |
| Furniture and vehicles24 | - | - | - | €43,433 | €111,828 | €77,110 | €53,169 | €29,314 | ▼ 44.9% |
| Other tangible fixed assets26 | - | - | - | €307 | €153 | - | - | - | - |
| Financial fixed assets28 | €597 | €597 | €597 | €597 | €597 | €597 | €597 | €597 | = |
| Current assets29/58 | €761,259 | €566,642 | €773,583 | €834,807 | €654,021 | €822,958 | €842,130 | €863,937 | ▲ 2.6% |
| Stocks and contracts in progress3 | €10,028 | €15,501 | €10,511 | €34,039 | €22,634 | €17,937 | €9,201 | €5,521 | ▼ 40.0% |
| Stocks30/36 | - | - | - | €15,074 | €12,375 | €12,961 | €3,931 | €5,521 | ▲ 40.5% |
| Contracts in progress37 | - | - | - | €18,965 | €10,260 | €4,976 | €5,270 | - | - |
| Amounts receivable within one year40/41 | €281,642 | €83,982 | €189,852 | €95,402 | €102,653 | €170,975 | €121,790 | €224,671 | ▲ 84.5% |
| Trade receivables40 | - | - | - | €62,409 | €50,131 | €154,503 | €106,434 | €216,338 | ▲ 103% |
| Other amounts receivable41 | - | - | - | €32,993 | €52,522 | €16,473 | €15,356 | €8,333 | ▼ 45.7% |
| Cash at bank and in hand54/58 | €450,348 | €431,414 | €535,104 | €698,537 | €521,988 | €627,547 | €705,402 | €629,229 | ▼ 10.8% |
| Deferred charges and accrued income490/1 | - | - | - | €6,828 | €6,746 | €6,499 | €5,737 | €4,516 | ▼ 21.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €790,508 | €628,842 | €818,096 | €883,800 | €769,844 | €902,561 | €897,718 | €895,187 | ▼ 0.3% |
| Equity10/15 | €436,121 | €572,063 | €768,856 | €847,003 | €722,005 | €861,719 | €858,752 | €856,020 | ▼ 0.3% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | - | - | - | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | - | - | - | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €374,147 | €510,089 | €706,883 | €785,030 | €660,032 | €799,746 | €796,779 | €794,047 | ▼ 0.3% |
| Non-distributable reserves130/1 | - | - | - | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Legal reserve130 | - | - | - | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Tax-exempt reserves132 | - | - | - | €37,500 | €37,500 | €37,500 | €37,500 | €37,500 | = |
| Distributable reserves133 | - | - | - | €741,333 | €616,335 | €756,048 | €753,081 | €750,349 | ▼ 0.4% |
| Amounts payable17/49 | €354,387 | €56,779 | €49,239 | €36,797 | €47,838 | €40,842 | €38,966 | €39,167 | ▲ 0.5% |
| Amounts payable within one year42/48 | €347,173 | €50,736 | €49,070 | €36,797 | €47,838 | €40,842 | €38,966 | €39,113 | ▲ 0.4% |
| Trade debts44 | €22,629 | €10,723 | €15,800 | €10,754 | €9,758 | €5,689 | €7,395 | €9,220 | ▲ 24.7% |
| Suppliers440/4 | - | - | - | €10,754 | €9,758 | €5,689 | €7,395 | €9,220 | ▲ 24.7% |
| Taxes, remuneration and social security45 | - | - | - | €17,814 | €16,085 | €15,113 | €12,153 | €17,102 | ▲ 40.7% |
| Taxes450/3 | - | - | - | €6,244 | €5,051 | €3,750 | €4,057 | €10,888 | ▲ 168% |
| Remuneration and social security454/9 | - | - | - | €11,570 | €11,034 | €11,363 | €8,096 | €6,214 | ▼ 23.2% |
| Other amounts payable47/48 | - | - | - | €8,230 | €21,995 | €20,040 | €19,419 | €12,790 | ▼ 34.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0 | - | - | €54 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €103,452 | €135,942 | €196,793 | €153,676 | €26,472 | €139,714 | €100,484 | €133,210 | ▲ 32.6% |
| + Depreciation and write-downs630 | €21,393 | €24,721 | €18,546 | €22,237 | €28,341 | €36,984 | €25,216 | €25,012 | ▼ 0.8% |
| Operating cash flow (approximation) | €124,845 | €160,663 | €215,339 | €175,912 | €54,812 | €176,698 | €125,701 | €158,222 | ▲ 25.9% |
| Investment in fixed assets (approximation) | - | -€57,671 | -€859 | -€26,717 | -€95,170 | -€764 | -€1,201 | -€673 | ▲ 44.0% |
| Change in cash | - | -€18,934 | €103,690 | €163,433 | -€176,549 | €105,560 | €77,855 | -€76,174 | - |
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, 31,368 companies had the same profile as Elektro Bart has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Elektro Bart itself: < 0.1% within 12 months.
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 31,368 companies, not a prediction for Elektro Bart. 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 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 17-07-2026 | 2026-00302510 | |
| 31-12-2024 | abbreviated format | 23-07-2025 | 2025-00297150 | |
| 31-12-2023 | abbreviated format | 10-07-2024 | 2024-00227097 | |
| 31-12-2022 | abbreviated format | 22-06-2023 | 2023-00147027 | |
| 31-12-2021 | abbreviated format | 24-08-2022 | 2022-20310226 | |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-58100235 | |
| 31-12-2019 | abbreviated format | 20-06-2020 | 2020-18100177 | |
| 31-12-2018 | micro format | 20-06-2019 | 2019-19900196 | |
| 31-12-2017 | micro format | 29-06-2018 | 2018-25300550 | |
| 31-12-2016 | micro format | 19-06-2017 | 2017-18700029 |