ETS BARETTE
ActiveSummary
ETS BARETTE has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of €843. Equity is growing by ~17% per year across the filed fiscal years. Its solvency ranks better than 39% of 7900 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability49▼-18
Solvency60▼-3
Growth45▼-16
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55,000 at 30 days acceptable
Liquidity short (current ratio 0.39 against 0.39 in 2024; short-term debt: 38% and cash: 2.4% of total assets), and 64.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
35.4%
Return on assets
0%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
30 d late
2023
27 d late
2022
92 d early
2021
75 d late
2020
46 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 30 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€1.4m▼ 14.5%
2019 · €1.6m
EBIT margin
13.7%▲ 6.8pp
2019 · 6.9%
Net result
€843▼ 99.1%
2024 · €91,897
Working capital
-€659,183▼ 3.2%
2024 · -€638,754
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
Turnover
Operating result€186,121▲ 0.6%€241,063▲ 29.5%€208,298▼ 13.6%€175,413▼ 15.8%€63,997▼ 63.5%
Net result€122,066▲ 2.0%€165,399▲ 35.5%€125,392▼ 24.2%€91,897▼ 26.7%€843▼ 99.1%
EBIT margin
Equity€621,609▲ 24.4%€787,009▲ 26.6%€912,400▲ 15.9%€1.0m▲ 10.1%€1.0m▲ 0.1%
Total assets€1.9m▲ 28.2%€2.6m▲ 35.9%€2.5m▼ 5.5%€2.6m▲ 6.0%€2.8m▲ 7.6%
Debt€1.3m▲ 30.0%€1.8m▲ 40.3%€1.6m▼ 14.7%€1.6m▲ 3.7%€1.8m▲ 12.2%
Working capital-€383,770▼ 48.6%-€655,383▼ 70.8%-€558,059▲ 14.9%-€638,754▼ 14.5%-€659,183▼ 3.2%
Staff (FTE)15▲ 6.4%16.4▲ 9.3%14.6▼ 11.0%12.9▼ 11.6%11.1▼ 14.0%
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 64% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.8m
Fixed assets
€2.4m ▲ 8.2%
Current assets
€418,470 ▲ 4.5%
Equity and liabilities €2.8m
Equity
€1.0m ▲ 0.1%
Debt
€1.8m ▲ 12.2%
Debt's share of the balance-sheet total rises from 61.9% to 64.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€250,337▼
2024 · €349,898
Cash flow
€187,183▼
2024 · €266,382
Current ratio
0.39▲
2024 · 0.39
Quick ratio
0.36▲
2024 · 0.36
Debt to equity
1.82▲
2024 · 1.62
ROE
0.1%▼
2024 · 9.2%
ROA
0.0%▼
2024 · 3.5%
Interest coverage
3.63▼
2024 · 5.30
Debt ≤ 1 year
€1.1m▲
2024 · €1.0m
Debt > 1 year
€702,262▲
2024 · €591,365
Income taxes
€465▼
2024 · €32,849
Staff costs
€456,439▼
2024 · €499,244
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 14,684 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €4,744 | €2,190 | €38,211 | €48,000 | - | - |
| Remuneration, social security and pensions62 | €477,836 | €524,575 | €505,156 | €499,244 | €456,439 | ▼ 8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €97,999 | €148,746 | €143,771 | €174,484 | €186,341 | ▲ 6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€366 | - | - | - | €2,241 | - |
| Other operating charges640/8 | €10,335 | €20,131 | €18,689 | €24,576 | €14,749 | ▼ 40.0% |
| Non-recurring operating charges66A | - | €2,161 | €985 | - | - | - |
| Gross operating margin9900 | €771,925 | €936,676 | €876,899 | €873,717 | €723,767 | ▼ 17.2% |
| Operating profit (loss)9901 | €186,121 | €241,063 | €208,298 | €175,413 | €63,997 | ▼ 63.5% |
| Financial income75/76B | €20,193 | €11,517 | €8,011 | €15,323 | €6,307 | ▼ 58.8% |
| Recurring financial income75 | €14,138 | €11,517 | €8,011 | €15,323 | €6,307 | ▼ 58.8% |
| Non-recurring financial income76B | €6,055 | - | - | - | - | - |
| Financial charges65/66B | €25,041 | €37,484 | €47,491 | €65,990 | €68,996 | ▲ 4.6% |
| Recurring financial charges65 | €25,041 | €37,484 | €47,491 | €65,990 | €68,996 | ▲ 4.6% |
| Profit (loss) for the period before taxes9903 | €181,273 | €215,096 | €168,819 | €124,746 | €1,308 | ▼ 99.0% |
| Income taxes67/77 | €59,207 | €49,697 | €43,427 | €32,849 | €465 | ▼ 98.6% |
| Profit (loss) for the period9904 | €122,066 | €165,399 | €125,392 | €91,897 | €843 | ▼ 99.1% |
| Profit (loss) for the period to be appropriated9905 | €122,066 | €165,399 | €125,392 | €91,897 | €843 | ▼ 99.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.9m | €2.6m | €2.5m | €2.6m | €2.8m | ▲ 7.6% |
| Fixed assets21/28 | €1.5m | €2.2m | €2.2m | €2.2m | €2.4m | ▲ 8.2% |
| Tangible fixed assets22/27 | €972,157 | €1.7m | €1.6m | €1.7m | €1.9m | ▲ 10.9% |
| Land and buildings22 | €682,449 | €1.4m | €1.4m | €1.4m | €1.7m | ▲ 19.3% |
| Plant, machinery and equipment23 | €24,854 | €26,285 | €41,490 | €30,961 | €32,113 | ▲ 3.7% |
| Furniture and vehicles24 | €241,187 | €261,678 | €203,017 | €220,157 | €134,677 | ▼ 38.8% |
| Other tangible fixed assets26 | €23,667 | €18,980 | €14,292 | €9,605 | €4,917 | ▼ 48.8% |
| Financial fixed assets28 | €564,755 | €564,755 | €564,755 | €564,755 | €564,755 | = |
| Current assets29/58 | €399,791 | €386,335 | €304,617 | €400,561 | €418,470 | ▲ 4.5% |
| Stocks and contracts in progress3 | €45,760 | €33,242 | €25,217 | €28,658 | €30,063 | ▲ 4.9% |
| Stocks30/36 | €45,760 | €33,242 | €25,217 | €28,658 | €30,063 | ▲ 4.9% |
| Amounts receivable within one year40/41 | €151,958 | €260,416 | €199,730 | €265,276 | €304,715 | ▲ 14.9% |
| Trade receivables40 | €124,850 | €210,846 | €176,168 | €229,343 | €221,811 | ▼ 3.3% |
| Other amounts receivable41 | €27,108 | €49,570 | €23,562 | €35,933 | €82,904 | ▲ 131% |
| Cash at bank and in hand54/58 | €179,538 | €70,854 | €55,360 | €88,251 | €67,073 | ▼ 24.0% |
| Deferred charges and accrued income490/1 | €22,535 | €21,822 | €24,310 | €18,376 | €16,619 | ▼ 9.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.9m | €2.6m | €2.5m | €2.6m | €2.8m | ▲ 7.6% |
| Equity10/15 | €621,609 | €787,009 | €912,400 | €1.0m | €1.0m | ▲ 0.1% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €601,193 | €766,592 | €891,983 | €983,881 | €983,881 | = |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €2,000 | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €2,000 | €2,000 | - | - |
| Distributable reserves133 | €599,193 | €764,592 | €889,983 | €981,881 | €983,881 | ▲ 0.2% |
| Profit (loss) carried forward14 | €417 | €417 | €417 | €417 | €1,259 | ▲ 202% |
| Amounts payable17/49 | €1.3m | €1.8m | €1.6m | €1.6m | €1.8m | ▲ 12.2% |
| Amounts payable after more than one year17 | €456,749 | €791,313 | €650,628 | €591,365 | €702,262 | ▲ 18.8% |
| Financial debts170/4 | €456,749 | €791,313 | €650,628 | €591,365 | €702,262 | ▲ 18.8% |
| Amounts payable within one year42/48 | €783,561 | €1.0m | €862,676 | €1.0m | €1.1m | ▲ 3.7% |
| Current portion of amounts payable after more than one year42 | €162,511 | €186,490 | €203,239 | €208,527 | €167,509 | ▼ 19.7% |
| Financial debts43 | - | €12,529 | - | - | €7,584 | - |
| Credit institutions430/8 | - | €12,529 | - | - | €7,584 | - |
| Trade debts44 | €152,179 | €316,860 | €109,310 | €83,494 | €118,055 | ▲ 41.4% |
| Suppliers440/4 | €152,179 | €316,860 | €109,310 | €83,494 | €118,055 | ▲ 41.4% |
| Taxes, remuneration and social security45 | €69,090 | €56,231 | €14,386 | €36,354 | €28,090 | ▼ 22.7% |
| Taxes450/3 | €36,836 | €11,326 | €1,524 | €23,405 | €13,936 | ▼ 40.5% |
| Remuneration and social security454/9 | €32,255 | €44,905 | €12,862 | €12,950 | €14,153 | ▲ 9.3% |
| Other amounts payable47/48 | €399,781 | €469,608 | €535,741 | €710,939 | €756,416 | ▲ 6.4% |
| Accrued charges and deferred income492/3 | €74,784 | €11,853 | €60,332 | €660 | €51,119 | ▲ 7,643% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €122,066 | €165,399 | €125,392 | €91,897 | €843 | ▼ 99.1% |
| + Depreciation and write-downs630 | €97,999 | €148,746 | €143,771 | €174,484 | €186,341 | ▲ 6.8% |
| Operating cash flow (approximation) | €220,065 | €314,145 | €269,163 | €266,382 | €187,183 | ▼ 29.7% |
| Investment in fixed assets (approximation) | - | -€857,392 | -€79,632 | -€228,141 | -€368,970 | ▼ 61.7% |
| Change in cash | - | -€108,683 | -€15,494 | €32,891 | -€21,178 | ▼ 164% |
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 · abbreviated schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €843 ▼99.1%
Net result drops to €843, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 30 days late
2024
31-12
Financial
Equity above €1mEq €1.0m ▲10.1%
7 profitable years in a row build equity to €1.0m.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 27 days late
2023
30-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €165,399 ▲35.5%
Operating result €241,063, net result €165,399, both a record.
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 75 days late
2021
31-12
Financial
Equity above €500,000Eq €621,609 ▲24.4%
4 profitable years in a row build equity to €621,609.
15-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 46 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 91 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Liège · 1 establishment unit since 1999
Ground area
210 m²
Building footprint
210 m²
Volume, LiDAR
3,341 m³
Parcel 62806C0391/00R000, Wallonia · tallest building 18.6 m, ±5 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Rue de Fétinne 44, 4020 Liège
since 19992.131.386.344
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62806C0391/00R000 | Wallonia | 210 m² | 1 · 210 m² | 18.6 m · 5 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
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
- J.C. ENTREPRISESsubsidiaryEquity €253,335Result €36,46099.82%
According to the 2025 annual accounts of ETS BARETTE 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.
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Of 9,536 companies in sector 43222 we hold annual accounts for 5,667. 3,097 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-10-1999
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0467053317
Registered
16-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.