ACTIVE

Bermaso

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Financial year 2025 · closed on 31/12/2025

Net result

20,1 M €

+530.8% YoY

Revenue

7,5 M €

+44.7% YoY

Equity

73,4 M €

+16.2% YoY

Workforce

2,7 ETP

+3.8% YoY

What does Bermaso do?

Bermaso is a Public limited company incorporated in 1999. Its main activity is: Buying and selling of own real estate. Its registered office is in Schilde. It employs on average 2,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0466.251.878

Incorporation

15/06/1999

Legal form

Public limited company

Registered office

Wijnegemsteenweg 22 box 1
2970 Schilde · FlandreSee on map

Contributed capital

13 626 590,81 €

Latest accounts

31/12/2025

Average workforce

2,7 ETP

Activities (NACE)

68100Buying and selling of own real estate· main 68110Buying and selling of own real estate 68203Rental and operating of own or leased real estate 68203Rental and operating of own or leased real estate 70120Activities of head offices 70200Management consultancy activities+2

Joint committees (1)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2021		2020		2019		2018		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	7,5 M €	+44.7%	5,2 M €	-69.7%	17,1 M €	+60.5%	10,7 M €	+143%	4,4 M €	+16.9%	3,8 M €	-54.8%	8,3 M €	+22.9%	6,8 M €	-2.7%	7 M €	-5.1%	7,3 M €	+9.0%	6,7 M €	+32.6%	5,1 M €	+2.0%	5 M €	+28.9%	3,9 M €	+7.0%	3,6 M €		–		–		–
EBITDA	122,5 k €	+105%	-2,4 M €	-218%	2,1 M €	+1459%	-152,8 k €	-101%	10,9 M €	+410%	2,1 M €	-90.3%	22,2 M €	+232%	6,7 M €	-46.2%	12,4 M €	-22.9%	16,1 M €	+9.0%	14,8 M €	+24.1%	11,9 M €	+77.2%	6,7 M €	+4.7%	6,4 M €	-2.2%	6,6 M €	-24.7%	8,7 M €	+38.2%	6,3 M €	+724%	765,6 k €
Operating result	-2,6 M €	-1.8%	-2,6 M €	-24.5%	-2,1 M €	+37.0%	-3,3 M €	-142%	7,8 M €	+8848%	-89,5 k €	-100%	18,9 M €	+530%	3 M €	-67.1%	9,1 M €	-25.1%	12,2 M €	+8.4%	11,3 M €	+29.6%	8,7 M €	+106%	4,2 M €	+4.7%	4 M €	-9.1%	4,4 M €	+48.7%	3 M €	-13.3%	3,4 M €	+278%	-1,9 M €
Net result	20,1 M €	+531%	-4,7 M €	-278%	2,6 M €	-64.9%	7,5 M €	-30.2%	10,8 M €	+402%	-3,6 M €	-151%	6,9 M €	+739%	827,3 k €	-73.0%	3,1 M €	-55.6%	6,9 M €	+245%	2 M €	-48.0%	3,9 M €	+209%	1,2 M €	-7.7%	1,4 M €	-14.7%	1,6 M €	+166%	596 k €	-72.2%	2,1 M €	+215%	-1,9 M €
Balance sheet
Equity	73,4 M €	+16.2%	63,2 M €	-0.5%	63,4 M €	+4.3%	60,8 M €	+17.6%	51,7 M €	+26.1%	41 M €	-4.7%	43 M €	+19.2%	36,1 M €	+2.3%	35,2 M €	+9.5%	32,2 M €	+27.3%	25,3 M €	+8.6%	23,3 M €	+19.8%	19,4 M €	+6.9%	18,2 M €	+8.0%	16,8 M €	+209%	5,4 M €	+12.3%	4,8 M €	+184%	1,7 M €
Total assets	165,5 M €	-0.1%	165,6 M €	-6.6%	177,3 M €	+0.9%	175,7 M €	+20.7%	145,7 M €	-7.9%	158,1 M €	+32.4%	119,4 M €	-24.8%	158,8 M €	-13.4%	183,3 M €	-6.8%	196,6 M €	+12.8%	174,3 M €	+32.5%	131,6 M €	+57.0%	83,8 M €	+24.3%	67,5 M €	+1.6%	66,4 M €	+36.4%	48,7 M €	+54.3%	31,6 M €	+42.0%	22,2 M €
Cash	85,2 k €	+118%	39,1 k €	-89.8%	383,9 k €	-89.8%	3,8 M €	+33.1%	2,8 M €	-2.9%	2,9 M €	-12.4%	3,3 M €	-46.7%	6,3 M €	+368%	1,3 M €	-2.6%	1,4 M €	-22.6%	1,8 M €	+27.1%	1,4 M €	-9.7%	1,5 M €	-67.6%	4,8 M €	-11.0%	5,3 M €	+4589%	114 k €	-50.5%	230,5 k €	+336%	52,9 k €
Debts	89,5 M €	-9.3%	98,7 M €	-8.8%	108,3 M €	+0.8%	107,4 M €	+29.1%	83,1 M €	-21.5%	105,9 M €	+68.5%	62,8 M €	-46.2%	116,7 M €	-19.6%	145,2 M €	-10.1%	161,5 M €	+10.6%	146,1 M €	+35.9%	107,5 M €	+67.7%	64,1 M €	+31.6%	48,7 M €	-1.4%	49,4 M €	+15.7%	42,7 M €	+61.7%	26,4 M €	+29.0%	20,5 M €
Other
Workforce	2,7 ETP	+3.8%	2,6 ETP	+4.0%	2,5 ETP	-3.8%	2,6 ETP	+4.0%	2,5 ETP	-10.7%	2,8 ETP	+33.3%	2,1 ETP	-27.6%	2,9 ETP	-6.5%	3,1 ETP	0.0%	3,1 ETP	+10.7%	2,8 ETP	+115%	1,3 ETP	+30.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	+150%	0,4 ETP		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 32 ended

Active mandates

PADOXA

Managing director · since 18 décembre 2025 · until 18 décembre 2031 · 0435.094.092

Represented by Xavier Painblanc

Active

Painblanc Consult

Director · since 18 décembre 2025 · until 18 décembre 2031 · 0773.558.667

Represented by Bernard Painblanc

Active

BIBI FASHION

Director · since 27 décembre 2019 · until 18 décembre 2025 · 0444.703.428

Represented by Xavier Painblanc

Active

Ended mandates

BIBI FASHION

Managing director · since 04 avril 2022 · until 05 mars 2027 · 0444.703.428

Represented by Xavier Painblanc

Ended

Painblanc Consult

Managing director · since 04 avril 2022 · until 05 mars 2027 · 0773.558.667

Represented by Bernard Painblanc

Ended

Painblanc Consult

Managing director · since 04 avril 2022 · 0773.558.667

Represented by Bernard Painblanc

Ended

BIBI FASHION

Director · since 27 décembre 2019 · 0444.703.428

Represented by Xavier Painblanc

Ended

At this address

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Annual accounts

Full financial information

	2025	2024	2023	2021	2020	2019
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/11/2024	01/11/2023	01/12/2021	01/12/2020	01/12/2019	01/12/2018
Closing of the financial year	31/12/2025	31/10/2024	31/10/2023	30/11/2021	30/11/2020	30/11/2019
Length of the financial year	14 months	12 months	23 months	12 months	12 months	12 months
Filing date	31/08/2026	16/05/2025	30/05/2024	24/08/2022	16/07/2021	16/07/2021
General meeting	31/08/2026	08/05/2025	27/05/2024	05/08/2022	16/07/2021	16/07/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	31/08/2026	31/08/2026	Dutch	PDF
Full model	31/10/2024	08/05/2025	16/05/2025	Dutch	PDF
Full model	31/10/2023	27/05/2024	30/05/2024	Dutch	PDF
Full model	30/11/2021	05/08/2022	24/08/2022	Dutch	PDF
Full model	30/11/2020	16/07/2021	16/07/2021	Dutch	PDF
Full model	30/11/2019	16/07/2021	16/07/2021	Dutch	PDF
Full model	30/11/2018	31/10/2019	19/11/2019	Dutch	PDF
Full model	31/12/2016	22/09/2017	26/09/2017	Dutch	PDF
Full model	31/12/2015	24/06/2016	19/07/2016	Dutch	PDF
Full model	31/12/2014	30/06/2015	28/08/2015	Dutch	PDF
Full model	31/12/2013	07/08/2014	18/08/2014	Dutch	PDF
Full model	31/12/2012	07/06/2013	11/06/2013	Dutch	PDF
Full model	31/12/2011	01/06/2012	28/06/2012	Dutch	PDF
Full model	31/12/2010	03/06/2011	05/07/2011	Dutch	PDF
Full model	31/12/2009	04/06/2010	28/06/2010	Dutch	PDF
Abridged model	31/12/2008	02/06/2009	05/06/2009	Dutch	PDF
Abridged model	31/12/2007	02/06/2008	03/06/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	07/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 32 ended

Active mandates

PADOXA

Managing director · since 18 décembre 2025 · until 18 décembre 2031 · 0435.094.092

Represented by Xavier Painblanc

Active

Painblanc Consult

Director · since 18 décembre 2025 · until 18 décembre 2031 · 0773.558.667

Represented by Bernard Painblanc

Active

BIBI FASHION

Director · since 27 décembre 2019 · until 18 décembre 2025 · 0444.703.428

Represented by Xavier Painblanc

Active

Ended mandates

BIBI FASHION

Managing director · since 04 avril 2022 · until 05 mars 2027 · 0444.703.428

Represented by Xavier Painblanc

Ended

Painblanc Consult

Managing director · since 04 avril 2022 · until 05 mars 2027 · 0773.558.667

Represented by Bernard Painblanc

Ended

Painblanc Consult

Managing director · since 04 avril 2022 · 0773.558.667

Represented by Bernard Painblanc

Ended

BIBI FASHION

Director · since 27 décembre 2019 · 0444.703.428

Represented by Xavier Painblanc

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring22/06/2026
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring05/05/2026
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring15/01/2026
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
PDF
Restructuring10/11/2025
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring10/11/2025
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Other30/09/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates07/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring30/09/2024
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

27/05/2026
autre
2025
Annual accounts 202520,1 M €↑
08/05/2025
reconductionFigurad Bedrijfsrevisoren BV — commissaris
01/01/2025
augmentation_capital
01/01/2025
apportXavier Painblanc
01/01/2025
apportBIBI FASHION NV
01/01/2025
apportPADOXA NV
2024
Annual accounts 2024-4,7 M €↓
01/01/2024
split
2023
Annual accounts 20232,6 M €↓
2021
Annual accounts 20217,5 M €↓
2020
Annual accounts 202010,8 M €↑
2019
Annual accounts 2019-3,6 M €↓
2018
Annual accounts 20186,9 M €↑
2016
Annual accounts 2016827,3 k €↓
2015
Annual accounts 20153,1 M €↓
2014
Annual accounts 20146,9 M €↑
2013
Annual accounts 20132 M €↓
2012
Annual accounts 20123,9 M €↑
2011
Annual accounts 20111,2 M €↓
2010
Annual accounts 20101,4 M €↓
2009
Annual accounts 20091,6 M €↑
2008
Annual accounts 2008596 k €↓
2007
Annual accounts 20072,1 M €↑
2006
Annual accounts 2006-1,9 M €
15/06/1999
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Bermaso

Overview

What does Bermaso do?

Trend over 18 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline