ACTIVE

BERTMAL

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Financial year 2025 · closed on 31/12/2025

Net result

193 k €

-35.9% YoY

Gross margin

78,5 k €

-1.2% YoY

Equity

1,9 M €

+11.2% YoY

What does BERTMAL do?

BERTMAL is a Public limited company incorporated in 2014. Its main activity is: Activities of holding companies. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0559.865.489

Incorporation

18/08/2014

Legal form

Public limited company

Registered office

Rue du Pâturage 115 box A01
1120 Bruxelles · BruxellesSee on map

Contributed capital

220 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 11 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015
Income statement
Gross margin	78,5 k €	-1.2%	79,4 k €	-7.2%	85,6 k €	+2.2%	83,8 k €	+282%	21,9 k €	-70.9%	75,4 k €	+31.8%	57,2 k €	+8.5%	52,7 k €	-6.8%	56,6 k €	+113%	26,6 k €	-51.1%	54,3 k €
EBITDA	74,2 k €	-3.7%	77,1 k €	-6.5%	82,4 k €	+3.8%	79,4 k €	+298%	19,9 k €	-72.8%	73,3 k €	+34.9%	54,4 k €	+4.9%	51,8 k €	-6.9%	55,7 k €	+113%	26,2 k €	-51.0%	53,5 k €
Operating result	68,9 k €	-5.8%	73,1 k €	-5.2%	77,1 k €	+3.9%	74,2 k €	+391%	15,1 k €	-77.9%	68,5 k €	+39.2%	49,2 k €	-4.4%	51,5 k €	-7.0%	55,3 k €	+111%	26,2 k €	-51.0%	53,5 k €
Net result	193 k €	-35.9%	301 k €	+29.5%	232,4 k €	-27.5%	320,4 k €	+38.6%	231,2 k €	+104%	113,3 k €	-43.0%	198,9 k €	+28.8%	154,5 k €	+2.5%	150,7 k €	+16.0%	129,9 k €	-2.0%	132,5 k €
Balance sheet
Equity	1,9 M €	+11.2%	1,7 M €	+9.3%	1,6 M €	+6.2%	1,5 M €	+16.0%	1,3 M €	+22.1%	1 M €	+12.2%	932,5 k €	+21.7%	766,5 k €	+23.9%	618,7 k €	+32.2%	468,1 k €	+32.8%	352,5 k €
Total assets	2,2 M €	+0.6%	2,2 M €	+13.0%	1,9 M €	+10.0%	1,8 M €	+9.7%	1,6 M €	+10.2%	1,5 M €	-1.3%	1,5 M €	+19.4%	1,2 M €	-1.5%	1,3 M €	-0.6%	1,3 M €	-0.6%	1,3 M €
Cash	371,2 k €	-27.8%	514 k €	+155%	201,9 k €	-39.2%	331,9 k €	+364%	71,5 k €	+260%	19,9 k €	-5.6%	21,1 k €	+31.2%	16 k €	-53.2%	34,3 k €	+1.5%	33,8 k €	-29.7%	48,1 k €
Debts	288,6 k €	-38.5%	469,3 k €	+28.9%	364,2 k €	+29.6%	281,1 k €	-14.9%	330,2 k €	-20.0%	412,9 k €	-24.2%	544,8 k €	+15.7%	471 k €	-26.2%	638 k €	-19.9%	796 k €	-13.4%	919,5 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 7 ended

Active mandates

ALEXIS BERTEMES

Director · since 18 août 2014

Active

LAETITIA BERTEMES

Director · since 18 août 2014

Active

MICHEL BERTEMES

Director · since 18 août 2014

Active

MICHEL BERTEMES

Managing director · since 18 août 2014

Active

Ended mandates

ALEXIS BERTEMES

Director · since 18 août 2018 · until 30 juin 2020

Ended

ALEXIS BERTEMES

Director · since 18 août 2018

Ended

ALEXIS BERTEMES

Director · since 18 août 2014 · until 30 juin 2020

Ended

LAETITIA BERTEMES

Director · since 18 août 2014 · until 30 juin 2020

Ended

At this address

Other companies at this address

Company	CBE no.
OUTIBRI● Active	0434.296.021
UTVA BERTOUTI● Active	0736.984.026

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Micro model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/07/2026	30/09/2025	12/07/2024	31/07/2023	30/08/2022	30/07/2021
General meeting	24/06/2026	25/06/2025	26/06/2024	28/06/2023	22/06/2022	23/06/2021
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

13 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	24/06/2026	31/07/2026	French	PDF
Abridged model	31/12/2024	25/06/2025	30/09/2025	French	PDF
Abridged model	31/12/2023	26/06/2024	12/07/2024	French	PDF
Abridged model	31/12/2022	28/06/2023	31/07/2023	French	PDF
Micro model	31/12/2021	22/06/2022	30/08/2022	French	PDF
Abridged model	31/12/2020	23/06/2021	30/07/2021	French	PDF
Micro model	31/12/2019	24/06/2020	31/07/2020	French	PDF
Abridged model	31/12/2018	26/06/2019	31/07/2019	French	PDF
Abridged model	31/12/2017	27/06/2018	31/07/2018	French	PDF
Abridged modelCorrection	31/12/2016	28/06/2017	19/09/2017	French	PDF
Abridged model	31/12/2016	28/06/2017	31/07/2017	French	PDF
Abridged modelCorrection	31/12/2015	22/06/2016	30/09/2016	French	PDF
Abridged model	31/12/2015	22/06/2016	30/08/2016	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

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 · 4 active · 7 ended

Active mandates

ALEXIS BERTEMES

Director · since 18 août 2014

Active

LAETITIA BERTEMES

Director · since 18 août 2014

Active

MICHEL BERTEMES

Director · since 18 août 2014

Active

MICHEL BERTEMES

Managing director · since 18 août 2014

Active

Ended mandates

ALEXIS BERTEMES

Director · since 18 août 2018 · until 30 juin 2020

Ended

ALEXIS BERTEMES

Director · since 18 août 2018

Ended

ALEXIS BERTEMES

Director · since 18 août 2014 · until 30 juin 2020

Ended

LAETITIA BERTEMES

Director · since 18 août 2014 · until 30 juin 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/12/2020
DEMISSIONS, NOMINATIONS
PDF
Registered office02/07/2019
SIEGE SOCIAL
PDF
Other27/08/2014
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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

2025
Annual accounts 2025193 k €↓
2024
Annual accounts 2024301 k €↑
2023
Annual accounts 2023232,4 k €↓
2022
Annual accounts 2022320,4 k €↑
2021
Annual accounts 2021231,2 k €↑
2020
Annual accounts 2020113,3 k €↓
2019
Annual accounts 2019198,9 k €↑
2018
Annual accounts 2018154,5 k €↑
2017
Annual accounts 2017150,7 k €↑
2016
Annual accounts 2016129,9 k €↓
2015
Annual accounts 2015132,5 k €
18/08/2014
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

BERTMAL

Overview

What does BERTMAL do?

Trend over 11 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