ACTIVE

BART INVESTMENT GROUP

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Financial year 2025 · closed on 31/12/2025

Net result

512 k €

-76.9% YoY

Gross margin

299,8 k €

-70.9% YoY

Equity

30 M €

-2.2% YoY

Workforce

1,0 ETP

0.0% YoY

What does BART INVESTMENT GROUP do?

BART INVESTMENT GROUP is a Private company with limited liability incorporated in 2008. Its main activity is: Management consultancy activities. Its registered office is in Evergem. It employs on average 1,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0806.869.853

Incorporation

06/10/2008

Legal form

Private company with limited liability

Registered office

Belzeelsestraat 60
9940 Evergem · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

1,0 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 23410Manufacture of ceramic household and ornamental articles 23410Manufacture of ceramic household and ornamental articles 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate+2

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	299,8 k €	-70.9%	1 M €	+43.6%	717 k €	-54.4%	1,6 M €	-29.7%	2,2 M €	-1.0%	2,3 M €	+37.6%	1,6 M €	+25.9%	1,3 M €	-18.6%	1,6 M €	+59.4%	1 M €	-9.9%	1,1 M €	+54.3%	723,8 k €	-27.4%	996,8 k €	+57.4%	633,5 k €	-14.7%	743 k €	+82.7%	406,7 k €	+37.0%	296,8 k €
EBITDA	240,8 k €	-75.4%	977,2 k €	+47.0%	665 k €	-56.1%	1,5 M €	-31.7%	2,2 M €	+3.9%	2,1 M €	+30.0%	1,6 M €	+26.0%	1,3 M €	-18.6%	1,6 M €	+59.7%	1 M €	-10.4%	1,1 M €	+54.3%	723,3 k €	-27.4%	996,3 k €	+57.3%	633,4 k €	-14.6%	741,9 k €	+82.6%	406,3 k €	+37.1%	296,3 k €
Operating result	144,2 k €	-83.8%	890,3 k €	+49.9%	594 k €	-59.1%	1,5 M €	-32.8%	2,2 M €	+3.2%	2,1 M €	+28.4%	1,6 M €	+26.2%	1,3 M €	-19.0%	1,6 M €	+60.1%	994,7 k €	-10.4%	1,1 M €	+60.8%	690,6 k €	-30.7%	996 k €	+57.5%	632,5 k €	-14.6%	741,1 k €	+82.8%	405,5 k €	+36.9%	296,1 k €
Net result	512 k €	-76.9%	2,2 M €	-82.9%	13 M €	+814%	1,4 M €	-49.4%	2,8 M €	+27.2%	2,2 M €	+24.6%	1,8 M €	+19.0%	1,5 M €	-6.7%	1,6 M €	+4.3%	1,5 M €	+108%	736,2 k €	+22.8%	599,4 k €	-29.7%	853,1 k €	+45.5%	586,2 k €	-8.6%	641,4 k €	+38.6%	462,9 k €	+12.1%	413 k €
Balance sheet
Equity	30 M €	-2.2%	30,7 M €	+7.8%	28,4 M €	+83.8%	15,5 M €	+10.1%	14,1 M €	+24.9%	11,3 M €	+24.3%	9,1 M €	+24.3%	7,3 M €	+12.1%	6,5 M €	+32.5%	4,9 M €	+45.2%	3,4 M €	+27.9%	2,6 M €	+29.3%	2 M €	+33.2%	1,5 M €	+61.9%	947,7 k €	+5.9%	894,5 k €	+107%	431,6 k €
Total assets	31,1 M €	-4.0%	32,4 M €	+7.0%	30,3 M €	+85.5%	16,3 M €	+9.4%	14,9 M €	+25.4%	11,9 M €	+11.4%	10,7 M €	+20.2%	8,9 M €	+21.7%	7,3 M €	+29.3%	5,6 M €	+36.6%	4,1 M €	+27.2%	3,3 M €	+9.1%	3 M €	+33.3%	2,2 M €	+12.4%	2 M €	+56.0%	1,3 M €	+63.5%	780,6 k €
Cash	273,9 k €	-54.7%	604,6 k €	-53.7%	1,3 M €	-73.4%	4,9 M €	-32.3%	7,2 M €	+2.7%	7 M €	-11.6%	8 M €	+37.5%	5,8 M €	+18.1%	4,9 M €	+43.3%	3,4 M €	+107%	1,7 M €	-23.1%	2,2 M €	+9.7%	2 M €	+80.9%	1,1 M €	+35.9%	800,3 k €	+53.7%	520,5 k €	+67.4%	311 k €
Debts	1,1 M €	-35.8%	1,7 M €	-5.2%	1,8 M €	+116%	839 k €	-2.3%	858,4 k €	+32.9%	645,7 k €	-60.4%	1,6 M €	+1.7%	1,6 M €	+99.4%	803,1 k €	+8.5%	740,3 k €	+1.6%	728,7 k €	+26.1%	577,9 k €	-38.4%	937,9 k €	+33.5%	702,4 k €	-32.6%	1 M €	+173%	381,5 k €	+9.5%	348,2 k €
Other
Workforce	1,0 ETP	0.0%	1,0 ETP	+11.1%	0,9 ETP	+12.5%	0,8 ETP	+60.0%	0,5 ETP		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Bart Vanrutten

Director · since 16 septembre 2008

Active

Ended mandates

Bart Vanrutten

Administrator - manager · since 16 septembre 2008

Ended

Bart Vanrutten

Manager · since 16 septembre 2008

Ended

BART VANRUTTEN

Mandate

Ended

At this address

Other companies at this address

Company	CBE no.
REUS EN BERG● Active	0827.484.531

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	15/07/2026	27/08/2025	30/08/2024	28/08/2023	30/09/2022	31/08/2021
General meeting	18/06/2026	19/06/2025	20/06/2024	15/06/2023	16/06/2022	17/06/2021
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

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	18/06/2026	15/07/2026	Dutch	PDF
Abridged model	31/12/2024	19/06/2025	27/08/2025	Dutch	PDF
Abridged model	31/12/2023	20/06/2024	30/08/2024	Dutch	PDF
Abridged model	31/12/2022	15/06/2023	28/08/2023	Dutch	PDF
Abridged model	31/12/2021	16/06/2022	30/09/2022	Dutch	PDF
Abridged model	31/12/2020	17/06/2021	31/08/2021	Dutch	PDF
Abridged model	31/12/2019	18/06/2020	04/09/2020	Dutch	PDF
Abridged model	31/12/2018	20/06/2019	29/08/2019	Dutch	PDF
Abridged model	31/12/2017	21/06/2018	30/08/2018	Dutch	PDF
Abridged model	31/12/2016	15/06/2017	31/08/2017	Dutch	PDF
Abridged model	31/12/2015	16/06/2016	31/08/2016	Dutch	PDF
Abridged model	31/12/2014	18/06/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	19/06/2014	18/07/2014	Dutch	PDF
Abridged model	31/12/2012	20/06/2013	20/08/2013	Dutch	PDF
Abridged model	31/12/2011	21/06/2012	24/08/2012	Dutch	PDF
Abridged model	31/12/2010	18/06/2011	29/08/2011	Dutch	PDF
Abridged model	31/12/2009	17/06/2010	27/08/2010	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 · 1 active · 3 ended

Active mandates

Bart Vanrutten

Director · since 16 septembre 2008

Active

Ended mandates

Bart Vanrutten

Administrator - manager · since 16 septembre 2008

Ended

Bart Vanrutten

Manager · since 16 septembre 2008

Ended

BART VANRUTTEN

Mandate

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/02/2024
DOEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN
PDF
Registered office11/04/2022
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares26/03/2018
KAPITAAL - AANDELEN
PDF
Registered office05/03/2015
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares07/01/2014
KAPITAAL - AANDELEN
PDF
Other14/10/2008
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, 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

2025
Annual accounts 2025512 k €↓
2024
Annual accounts 20242,2 M €↓
2023
Annual accounts 202313 M €↑
2023
Name changeBART INVESTMENT GROUP
2022
Annual accounts 20221,4 M €↓
2021
Annual accounts 20212,8 M €↑
2021
Name changeBART INVESTMENT GROEP
2020
Annual accounts 20202,2 M €↑
2019
Annual accounts 20191,8 M €↑
2018
Annual accounts 20181,5 M €↓
2017
Annual accounts 20171,6 M €↑
2016
Annual accounts 20161,5 M €↑
2015
Annual accounts 2015736,2 k €↑
2014
Annual accounts 2014599,4 k €↓
2013
Annual accounts 2013853,1 k €↑
2012
Annual accounts 2012586,2 k €↓
2011
Annual accounts 2011641,4 k €↑
2010
Annual accounts 2010462,9 k €↑
2009
Annual accounts 2009413 k €
06/10/2008
IncorporationPrivate company with limited liability

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

BART INVESTMENT GROUP

Overview

What does BART INVESTMENT GROUP do?

Trend over 17 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