Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 27 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
37 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Bermaso from Schilde, company number BE0466251878, closed financial year 2025 with a result of € 20.1 million after tax. For that financial year Bermaso recorded revenue of € 7.5 million and equity of € 73.4 million. Compared with financial year 2024, the result moved from € -4.7 million to € 20.1 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 31, 2026.
€ 73.4 million
▲ 16% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 20.1 million
▲ still € 4.7 million loss in 2024
Profit after tax over the fiscal year.
€ 85,156
▲ 118% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 59.8 million.
People and assets in 2025
2.7
▲ 0.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 252,061
▲ 43% vs 2024
€ 93,400 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 84,362
▼ 95% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 77.9 million
▼ 6% vs 2024
€ 731,780 is repaid this year. At this pace the long-term loan is gone in ≈ 24 years.
€ 393,551
▼ 77% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 22 days on average.
€ 196,922
▲ 139% vs 2024
Taxes, VAT and social contributions still to pay.
| 2021 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 10,671,289 | € 17,125,305 | € 5,190,789 | € 7,511,908 | ▲ 45% |
| Profit after taxes | € 7,500,999 | € 2,630,388 | € -4,670,447 | € 20,121,020 | ▲ € 24.8 million |
| Equity | € 60,810,178 | € 63,440,566 | € 63,150,119 | € 73,405,206 | ▲ 16% |
| Total debts | € 107,429,611 | € 108,357,104 | € 98,809,676 | € 89,844,290 | ▼ 9% |
| Cash | € 3,773,600 | € 383,862 | € 39,095 | € 85,156 | ▲ 118% |
| Land & buildings | € 90,533,374 | € 98,602,009 | € 79,261,434 | € 58,924,900 | ▼ 26% |
| Retained profit | € 46,005,766 | € 48,636,153 | € 43,965,707 | € 59,778,615 | ▲ 36% |
| Bank debt | € 84,239,973 | € 93,449,292 | € 82,631,855 | € 77,904,583 | ▼ 6% |
| Balance sheet total | € 175,741,223 | € 177,302,492 | € 165,591,332 | € 165,498,039 | |
| Employees (FTE) | 2.6 | 2.5 | 2.6 | 2.7 | ▲ 0.1 |
Key figures of Bermaso, fiscal years 2021 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Bermaso?
What happened at Bermaso in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- PADOXA NV stepped down as director. NBB
- Painblanc Consult BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 20.1 million. filed late Source: NBB ↗
- Bibi Fashion NV stepped down as director. NBB
- PADOXA NV became a director. NBB
- Painblanc Consult BV became a director. NBB
- Bibi Fashion NV became a director. NBB
- New establishment in Schilde. KBO
In short
From € 7.5 million profit in 2021 to € 20.1 million profit in 2025.
Paid € 207,785 in corporate taxes since 2021.
Best year ever: 2025, with € 20.1 million profit.
Pays suppliers within 22 days on average.
Management
The stake of BIBI FASHION, PADOXA, Painblanc Consult comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
BermasoThe shares are held by BIBI FASHION (28%), PADOXA (20%) and Painblanc Consult (15%). It owns 100% of Bouw & promotie Neerhof, 100% of Grondvennootschap Neerhof, 100% of Grondvennootschap Veertien, 100% of Bouw en Promotie Veertien, 100% of Interwac and 100% of XG Projectontwikkeling itself.
Directors
According to the 2025 annual accounts
Director · represented by Xavier Painblanc
Also active at: Bermaso V, DE LINDE, Bermaso IV, INTERWAC, MIFRECO, PADOXA, Autobedrijf Stockmans en Partners, VITAMO +37 more
since 2019 · until 2025
Managing director · represented by Xavier Painblanc
Also active at: INTERWAC, FIVE 2 TEN BELGIUM, Grondvennootschap XG, XG Projectontwikkeling, Bouw & Promotie Neerhof, Bouw en Promotie Veertien, Grondvennootschap Veertien
since 2025 · until 2031
Director · represented by Bernard Painblanc
Also active at: Bermaso V, Bermaso IV, INTERWAC, BIBI FASHION, VITAMO, FIVE 2 TEN BELGIUM, Grondvennootschap XG, XG Projectontwikkeling +7 more
since 2025 · until 2031
Shareholders
Participations
100%
100%
100%
99.9%
80%
80%
50%
50%
50%
40%
40%
37.6%
37.5%
37.4%
37%
30%
20%
17.7%
17.5%
Establishments
Establishment units
Physical locations of this company
Wijnegemsteenweg 22 box 1
2970 Schilde
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 37 companies are registered at this address.
All companies at this address →Molenveld Uitbreiding
€ 8,023 gross margin · 2025
INTERWAC same network
€ 323,352 gross margin · 2025
FITRACO
€ 79,126 gross margin · 2025
PADOXA same network
€ -4,372 gross margin · 2026
POLYTROPHYS same network
€ 88,270 gross margin · 2025
+32 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0466.251.878
- VAT number
- BE 0466.251.878
- Registered office
- Wijnegemsteenweg 22 bus 1, 2970 Schilde
- Names & denominations
- Bermaso
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 15 June 1999
- Peppol
- Active · Active since 15 Sept 2025
- Activities · NACE
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