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FERTRI

Active
Private limited companyfounded 1991active for 35 yearsEikstraat 5, 1000 Brussel, BelgiumKBO/BCE: BE 0442.958.121

Financials · financial year 2025, micro format

Annual accounts 2025 filed on 13-05-2026 PDF all 35 filings

Turnover
≈ €1.8m
Estimated: probably between €1.5m and €2.1m
EBIT margin
Not included in this filing
Net result
€19,816▼ 43.9%
2024 · €35,349
Working capital
€126,365▼ 29.2%
2024 · €178,393
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 41% lower than in 2024 and the lowest since 2021. It is the second fall in a row.

Operating result€32,469 2025 Net result€19,816 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€52,370--€13,697-€60,880▼ 344%€88,396€78,159▼ 11.6%€105,044▲ 34.4%€54,663▼ 48.0%€32,469▼ 40.6%
Net result€39,570--€15,744-€64,566below the sector's middle half▼ 310%€84,598above the sector's middle half€69,609above the sector's middle half▼ 17.7%€71,657above the sector's middle half▲ 2.9%€35,349above the sector's middle half▼ 50.7%€19,816within the sector's middle half▼ 43.9%
Equity€132,443-€116,699▼ 11.9%€52,132within the sector's middle half▼ 55.3%€136,730within the sector's middle half▲ 162%€176,339above the sector's middle half▲ 29.0%€217,996above the sector's middle half▲ 23.6%€223,345above the sector's middle half▲ 2.5%€171,160above the sector's middle half▼ 23.4%
Total assets€280,971-€189,973▼ 32.4%€139,404within the sector's middle half▼ 26.6%€267,391within the sector's middle half▲ 91.8%€341,501above the sector's middle half▲ 27.7%€374,095above the sector's middle half▲ 9.5%€389,326above the sector's middle half▲ 4.1%€372,020above the sector's middle half▼ 4.4%
Debt€148,528-€73,274▼ 50.7%€87,272▲ 19.1%€130,661▲ 49.7%€165,162▲ 26.4%€156,099▼ 5.5%€165,981▲ 6.3%€200,860▲ 21.0%
Working capital€75,031-€71,577▼ 4.6%€80,403above the sector's middle half▲ 12.3%€145,988above the sector's middle half▲ 81.6%€165,699above the sector's middle half▲ 13.5%€195,245above the sector's middle half▲ 17.8%€178,393above the sector's middle half▼ 8.6%€126,365above the sector's middle half▼ 29.2%
Solvency47.1%-61.4%▲ 14.3pp37.4%within the sector's middle half▼ 24.0pp51.1%within the sector's middle half▲ 13.7pp51.6%within the sector's middle half▲ 0.5pp58.3%above the sector's middle half▲ 6.6pp57.4%within the sector's middle half▼ 0.9pp46.0%within the sector's middle half▼ 11.4pp
Current ratio1.51-1.98▲ 0.473.95above the sector's middle half▲ 1.972.57above the sector's middle half▼ 1.382.18above the sector's middle half▼ 0.392.36above the sector's middle half▲ 0.172.07within the sector's middle half▼ 0.281.63within the sector's middle half▼ 0.44
Return on assets (ROA)14.1%--8.3%▼ 22.4pp-46.3%below the sector's middle half▼ 38.0pp31.6%above the sector's middle half▲ 78.0pp20.4%above the sector's middle half▼ 11.3pp19.2%above the sector's middle half▼ 1.2pp9.1%within the sector's middle half▼ 10.1pp5.3%within the sector's middle half▼ 3.8pp
Staff (FTE)15.5-13.2▼ 14.8%8.5within the sector's middle half▼ 35.6%8.2within the sector's middle half▼ 3.5%12.7▲ 54.9%14.8▲ 16.5%14.8=17.5▲ 18.2%
above within below The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). 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 turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €372,020
Fixed assets €45,399 ▲ 1.0%
Current assets €326,621 ▼ 5.2%
Equity and liabilities €372,020
Equity €171,160 ▼ 23.4%
Debt €200,860 ▲ 21.0%
Debt's share of the balance-sheet total rises from 42.6% to 54.0%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€39,825▼
2024 · €61,768
Cash flow
€27,171▼
2024 · €42,454
Quick ratio
1.51▼
2024 · 1.95
Debt to equity
1.17▲
2024 · 0.74
ROE
11.6%▼
2024 · 15.8%
Interest coverage
8.15▼
2024 · 17.49
Debt ≤ 1 year
€200,257▲
2024 · €165,981
Income taxes
€7,780▼
2024 · €15,810
Staff costs
€653,985▲
2024 · €616,690
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Comparable companies

These companies have the same main activity as FERTRI: cafés and bars (NACE 56301). They are comparable in size and age: total assets between €328,000 and €413,000, founded between 1991 and 1997.

CompanyFoundedTotal assetsEquityGross marginNet resultFTEFinancial year
FERTRI Brussel1991€372,020€171,160€701,257€19,816-2025
PARSE LOISIRS Ans1991€381,596€131,324€773,859€22,97113.22025
HOPPER Antwerpen1991€363,538€262,895€628,184€74,65012.52025
BRASSCO Antwerpen1995€397,912€286,554€633,615€74,146-2025
ISAM Hasselt1992€327,556-€249,803€867,225€63,03129.12025
MAPPA MUNDO Brussel1997€357,804€218,541€490,517-€78,687142025
GOZAR Kontich1996€412,657€169,830€762,792€9,331-2025

They were chosen from the 5,015 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 20,136 companies had the same profile as FERTRI 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 FERTRI 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 FERTRI. 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines

Source: Annual accounts 2025 (PDF), filed on 13-05-2026.

Balance sheet Code20242025
Assets
Total assets20/58€389,326€372,020▼
Fixed assets21/28€44,952€45,399▲
Tangible fixed assets22/27€29,831€15,497▼
Plant, machinery and equipment23€14,190€9,886▼
Furniture and vehicles24€15,148€5,449▼
Other tangible fixed assets26€494€162▼
Financial fixed assets28€15,121€29,902▲
Current assets29/58€344,374€326,621▼
Stocks and contracts in progress3€20,401€24,419▲
Stocks30/36€20,401€24,419▲
Amounts receivable within one year40/41€34,007€37,020▲
Trade receivables40€10,538€17,035▲
Other amounts receivable41€23,470€19,984▼
Cash at bank and in hand54/58€268,102€256,009▼
Deferred charges and accrued income490/1€21,863€9,174▼
Equity and liabilities
Total equity and liabilities10/49€389,326€372,020▼
Equity10/15€223,345€171,160▼
Contributions10/11€18,592€18,592=
Reserves13€66,662€66,662=
Non-distributable reserves130/1€1,859€1,859=
Reserves not available under the articles1311€1,859€1,859=
Tax-exempt reserves132€290€290=
Distributable reserves133€64,513€64,513=
Profit (loss) carried forward14€138,091€85,906▼
Amounts payable17/49€165,981€200,860▲
Amounts payable within one year42/48€165,981€200,257▲
Current portion of amounts payable after more than one year42€13,273€2,234▼
Trade debts44€41,344€40,189▼
Suppliers440/4€41,344€40,189▼
Taxes, remuneration and social security45€81,364€85,834▲
Taxes450/3€17,197€21,704▲
Remuneration and social security454/9€64,167€64,130▼
Other amounts payable47/48€30,000€72,000▲
Accrued charges and deferred income492/3-€603
Income statement Code20242025
Remuneration, social security and pensions62€616,690€653,985▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7,105€7,356▲
Other operating charges640/8€4,081€7,447▲
Gross operating margin9900€682,539€701,257▲
Operating profit (loss)9901€54,663€32,469▼
Financial income75/76B€28€12▼
Recurring financial income75€28€12▼
Financial charges65/66B€3,532€4,886▲
Recurring financial charges65€3,532€4,886▲
Profit (loss) for the period before taxes9903€51,159€27,596▼
Income taxes67/77€15,810€7,780▼
Profit (loss) for the period9904€35,349€19,816▼
Profit (loss) for the period to be appropriated9905€35,349€19,816▼
Appropriation of the result
Profit (loss) to be appropriated9906€168,091€157,906▼
Profit (loss) brought forward from the previous period14P€132,742€138,091▲
Profit to be distributed694/7€30,000€72,000▲
Return on contributions (dividend)694€30,000€72,000▲

The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Line20182019202020212022202320242025Change
Non-recurring operating income76A----€8,453€145---
Remuneration, social security and pensions62---€219,402€459,285€566,149€616,690€653,985▲ 6.0%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18,930€16,793€14,253€10,925€4,373€5,065€7,105€7,356▲ 3.5%
Other operating charges640/8---€1,051€3,323€6,054€4,081€7,447▲ 82.5%
Non-recurring operating charges66A----€11,485----
Gross operating margin9900€482,332€520,640€115,271€319,775€556,625€682,312€682,539€701,257▲ 2.7%
Operating profit (loss)9901€52,370-€13,697-€60,880€88,396€78,159€105,044€54,663€32,469▼ 40.6%
Financial income75/76B---€242€285€267€28€12▼ 58.0%
Recurring financial income75€28€242€208€242€285€267€28€12▼ 58.0%
Financial charges65/66B---€3,450€2,681€3,057€3,532€4,886▲ 38.3%
Recurring financial charges65€1,473€1,647€3,662€3,450€2,681€3,057€3,532€4,886▲ 38.3%
Profit (loss) for the period before taxes9903€50,925-€15,101-€64,333€85,188€75,763€102,253€51,159€27,596▼ 46.1%
Income taxes67/77€11,355€643€233€591€6,154€30,597€15,810€7,780▼ 50.8%
Profit (loss) for the period9904€39,570-€15,744-€64,566€84,598€69,609€71,657€35,349€19,816▼ 43.9%
Profit (loss) for the period to be appropriated9905€39,570-€15,744-€64,566€84,598€69,609€71,657€35,349€19,816▼ 43.9%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€280,971€189,973€139,404€267,391€341,501€374,095€389,326€372,020▼ 4.4%
Fixed assets21/28€57,439€45,150€31,730€28,250€35,532€34,774€44,952€45,399▲ 1.0%
Tangible fixed assets22/27€44,319€32,029€18,609€15,129€20,411€19,653€29,831€15,497▼ 48.1%
Plant, machinery and equipment23---€5,673€13,126€13,357€14,190€9,886▼ 30.3%
Furniture and vehicles24---€7,970€6,129€5,470€15,148€5,449▼ 64.0%
Other tangible fixed assets26---€1,487€1,156€825€494€162▼ 67.1%
Financial fixed assets28€13,121€13,121€13,121€13,121€15,121€15,121€15,121€29,902▲ 97.8%
Current assets29/58€223,531€144,823€107,674€239,141€305,969€339,321€344,374€326,621▼ 5.2%
Stocks and contracts in progress3€17,708€21,245€14,255€16,521€16,514€21,662€20,401€24,419▲ 19.7%
Stocks30/36---€16,521€16,514€21,662€20,401€24,419▲ 19.7%
Amounts receivable within one year40/41€56,418€32,031€10,396€16,562€24,273€38,910€34,007€37,020▲ 8.9%
Trade receivables40---€4,798€7,814€18,578€10,538€17,035▲ 61.7%
Other amounts receivable41---€11,764€16,459€20,333€23,470€19,984▼ 14.9%
Cash at bank and in hand54/58€137,896€82,725€72,771€198,429€244,580€264,704€268,102€256,009▼ 4.5%
Deferred charges and accrued income490/1---€7,629€20,603€14,045€21,863€9,174▼ 58.0%
Equity and liabilities
Total equity and liabilities10/49€280,971€189,973€139,404€267,391€341,501€374,095€389,326€372,020▼ 4.4%
Equity10/15€132,443€116,699€52,132€136,730€176,339€217,996€223,345€171,160▼ 23.4%
Contributions10/11€18,592€18,592-€18,592€18,592€18,592€18,592€18,592=
Reserves13€66,662€66,662€66,662€66,662€66,662€66,662€66,662€66,662=
Non-distributable reserves130/1---€1,859€1,859€1,859€1,859€1,859=
Reserves not available under the articles1311---€1,859€1,859€1,859€1,859€1,859=
Tax-exempt reserves132---€290€290€290€290€290=
Distributable reserves133---€64,513€64,513€64,513€64,513€64,513=
Profit (loss) carried forward14€47,189€31,445-€33,122€51,476€91,085€132,742€138,091€85,906▼ 37.8%
Amounts payable17/49€148,528€73,274€87,272€130,661€165,162€156,099€165,981€200,860▲ 21.0%
Amounts payable after more than one year17--€60,000€37,508€24,892€12,023---
Financial debts170/4---€37,508€24,892€12,023---
Amounts payable within one year42/48€148,500€73,246€27,272€93,153€140,271€144,076€165,981€200,257▲ 20.7%
Current portion of amounts payable after more than one year42---€13,619€13,867€14,061€13,273€2,234▼ 83.2%
Trade debts44€44,128€21,112€13,500€21,439€15,762€45,517€41,344€40,189▼ 2.8%
Suppliers440/4---€21,439€15,762€45,517€41,344€40,189▼ 2.8%
Taxes, remuneration and social security45---€58,094€80,642€54,498€81,364€85,834▲ 5.5%
Taxes450/3---€29,884€19,426€24,842€17,197€21,704▲ 26.2%
Remuneration and social security454/9---€28,210€61,216€29,656€64,167€64,130▼ 0.1%
Other amounts payable47/48----€30,000€30,000€30,000€72,000▲ 140%
Accrued charges and deferred income492/3-------€603-
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€39,570-€15,744-€64,566€84,598€69,609€71,657€35,349€19,816▼ 43.9%
+ Depreciation and write-downs630€18,930€16,793€14,253€10,925€4,373€5,065€7,105€7,356▲ 3.5%
Operating cash flow (approximation)€58,500€1,049-€50,313€95,523€73,983€76,722€42,454€27,171▼ 36.0%
Investment in fixed assets (approximation)--€4,504-€833-€7,446-€11,655-€4,307-€17,283-€7,802▲ 54.9%
Change in cash--€55,171-€9,954€125,658€46,151€20,125€3,397-€12,093-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 35 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 13-05-2026 2026-00111119 PDF
31-12-2024 micro format 22-05-2025 2025-00106455 PDF
31-12-2023 micro format 20-06-2024 2024-00154425 PDF
31-12-2022 micro format 20-06-2023 2023-00149033 PDF
31-12-2021 full format 15-06-2022 2022-20065995 PDF
31-12-2020 full format 22-07-2021 2021-39200279 PDF
31-12-2019 full format 24-06-2020 2020-23500126 PDF
31-12-2018 micro format 23-07-2019 2019-37400277 PDF
31-12-2017 micro format 02-07-2018 2018-29900184 PDF
31-12-2016 micro format 19-07-2017 2017-32900505 PDF

Show all 35 filings

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