A et J CONCEPT
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 46 days after the deadline Filed on 15 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00516680.
Annual accounts 2025 filed on 15-09-2026 at the NBB all 26 filings
Turnover
€25,235▲ 77.3%
2020 · €14,235
EBIT margin
-24.5%▲ 103.3pp
2020 · -127.8%
Net result
-€5,429▲ 60.1%
2024 · -€13,601
Working capital
-€125,800▼ 8.8%
2024 · -€115,604
Multi-year overview
2020 to 2025, 5 financial yearsTurnover
no figure
2025
20202025
Operating result
-€4,891
▲ 62.6%
2025
20202025
Net result
-€5,429
▲ 60.1%
2025
lowest quarter of the sector
20202025
EBIT margin
no figure
2025
20202025
Equity
-€113,480
▼ 5.0%
2025
lowest quarter of the sector
20202025
Total assets
€13,860
▲ 5.5%
2025
lowest quarter of the sector
20202025
Debt
€127,340
▲ 5.1%
2025
20202025
Working capital
-€125,800
▼ 8.8%
2025
lowest quarter of the sector
20202025
Solvency
-818.8%
▲ 3.4pp
2025
lowest quarter of the sector
20202025
Current ratio
0.01
▲ 0.01
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
-39.2%
▲ 64.3pp
2025
lowest quarter of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20202021202320242025
Turnover€14,235-€25,235▲ 77.3%
Operating result-€18,193--€6,189▲ 66.0%-€9,736--€13,089▼ 34.4%-€4,891▲ 62.6%
Net result-€18,335below the sector's middle half--€6,770below the sector's middle half▲ 63.1%-€10,474below the sector's middle half--€13,601below the sector's middle half▼ 29.9%-€5,429below the sector's middle half▲ 60.1%
EBIT margin-127.8%--24.5%▲ 103.3pp
Equity-€66,386below the sector's middle half--€73,156below the sector's middle half▼ 10.2%-€94,450below the sector's middle half--€108,051below the sector's middle half▼ 14.4%-€113,480below the sector's middle half▼ 5.0%
Total assets€22,578below the sector's middle half-€24,570below the sector's middle half▲ 8.8%€14,464below the sector's middle half-€13,141below the sector's middle half▼ 9.1%€13,860below the sector's middle half▲ 5.5%
Debt€88,964-€97,726▲ 9.8%€108,913-€121,192▲ 11.3%€127,340▲ 5.1%
Working capital-€85,660below the sector's middle half--€87,992below the sector's middle half▼ 2.7%-€106,771below the sector's middle half--€115,604below the sector's middle half▼ 8.3%-€125,800below the sector's middle half▼ 8.8%
Solvency-294.0%below the sector's middle half--297.7%below the sector's middle half▼ 3.7pp-653.0%below the sector's middle half--822.2%below the sector's middle half▼ 169.2pp-818.8%below the sector's middle half▲ 3.4pp
Current ratio0.04below the sector's middle half-0.10below the sector's middle half▲ 0.060.02below the sector's middle half-0.01below the sector's middle half▼ 0.010.01below the sector's middle half▲ 0.01
Return on assets (ROA)-81.2%below the sector's middle half--27.6%below the sector's middle half▲ 53.7pp-72.4%below the sector's middle half--103.5%below the sector's middle half▼ 31.1pp-39.2%below the sector's middle half▲ 64.3pp
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). 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 operating result for 2025 is a loss of €4,891, smaller than the loss of €13,089 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13,860
Fixed assets
€12,320 =
Current assets
€1,540 ▲ 87.5%
Equity and liabilities
Equity-€113,480
Debt€127,340
Equity is negative. Debt (€127,340) exceeds the balance-sheet total (€13,860).
Key figures and ratios
Debt ≤ 1 year
€127,340▲
2024 · €116,425
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1,918 | - | - | - |
| Depreciation and write-downs of the year | €6,356 | €639 | €2 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €14,235 | €25,235 | - | - | - | - |
| Non-recurring operating income76A | - | €692 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €25,897 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €348 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,718 | €6,356 | €639 | €2 | - | - |
| Other operating charges640/8 | - | €1,390 | €1,318 | - | €1,185 | - |
| Gross operating margin9900 | -€10,942 | €1,905 | -€7,778 | -€13,087 | -€3,706 | ▲ 71.7% |
| Operating profit (loss)9901 | -€18,193 | -€6,189 | -€9,736 | -€13,089 | -€4,891 | ▲ 62.6% |
| Financial income75/76B | - | - | - | - | €0 | - |
| Recurring financial income75 | - | - | - | - | €0 | - |
| Financial charges65/66B | - | €274 | €371 | €512 | €538 | ▲ 5.1% |
| Recurring financial charges65 | €141 | €274 | €371 | €512 | €538 | ▲ 5.1% |
| Profit (loss) for the period before taxes9903 | -€18,335 | -€6,463 | -€10,106 | -€13,601 | -€5,429 | ▲ 60.1% |
| Income taxes67/77 | - | €307 | €367 | - | - | - |
| Profit (loss) for the period9904 | -€18,335 | -€6,770 | -€10,474 | -€13,601 | -€5,429 | ▲ 60.1% |
| Profit (loss) for the period to be appropriated9905 | -€18,335 | -€6,770 | -€10,474 | -€13,601 | -€5,429 | ▲ 60.1% |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €22,578 | €24,570 | €14,464 | €13,141 | €13,860 | ▲ 5.5% |
| Fixed assets21/28 | €19,274 | €14,836 | €12,322 | €12,320 | €12,320 | = |
| Tangible fixed assets22/27 | €18,233 | €13,795 | €11,281 | €11,279 | €11,279 | = |
| Land and buildings22 | - | €12,515 | €11,279 | €11,279 | €11,279 | = |
| Furniture and vehicles24 | - | €1,280 | €2 | - | - | - |
| Financial fixed assets28 | €1,041 | €1,041 | €1,041 | €1,041 | €1,041 | = |
| Current assets29/58 | €3,304 | €9,734 | €2,142 | €821 | €1,540 | ▲ 87.5% |
| Amounts receivable within one year40/41 | €2,204 | €6,353 | €836 | €187 | - | - |
| Trade receivables40 | - | €5,508 | - | - | - | - |
| Other amounts receivable41 | - | €845 | €836 | €187 | - | - |
| Cash at bank and in hand54/58 | €575 | €2,236 | - | - | €1,540 | - |
| Deferred charges and accrued income490/1 | - | €1,145 | €1,306 | €634 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €22,578 | €24,570 | €14,464 | €13,141 | €13,860 | ▲ 5.5% |
| Equity10/15 | -€66,386 | -€73,156 | -€94,450 | -€108,051 | -€113,480 | ▼ 5.0% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€86,837 | -€93,608 | -€114,901 | -€128,502 | -€133,931 | ▼ 4.2% |
| Amounts payable17/49 | €88,964 | €97,726 | €108,913 | €121,192 | €127,340 | ▲ 5.1% |
| Amounts payable within one year42/48 | €88,964 | €97,726 | €108,913 | €116,425 | €127,340 | ▲ 9.4% |
| Current portion of amounts payable after more than one year42 | - | €3,146 | €3,146 | €3,146 | €3,146 | = |
| Financial debts43 | - | - | €2,834 | €3,163 | - | - |
| Credit institutions430/8 | - | - | €2,834 | €3,163 | - | - |
| Trade debts44 | €761 | €5,854 | €3,475 | €1,515 | €3,396 | ▲ 124% |
| Suppliers440/4 | - | €5,854 | €3,475 | €1,515 | €3,396 | ▲ 124% |
| Taxes, remuneration and social security45 | - | €160 | €367 | €176 | €830 | ▲ 371% |
| Taxes450/3 | - | €160 | €367 | €176 | €830 | ▲ 371% |
| Other amounts payable47/48 | - | €88,567 | €99,091 | €108,424 | €119,967 | ▲ 10.6% |
| Accrued charges and deferred income492/3 | - | - | - | €4,767 | - | - |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,335 | -€6,770 | -€10,474 | -€13,601 | -€5,429 | ▲ 60.1% |
| + Depreciation and write-downs630 | €5,718 | €6,356 | €639 | €2 | - | - |
| Operating cash flow (approximation) | -€12,616 | -€414 | -€9,835 | -€13,600 | -€5,429 | ▲ 60.1% |
| Investment in fixed assets (approximation) | - | -€1,918 | - | €0 | €0 | - |
| Change in cash | - | €1,661 | - | - | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,619 companies had the same profile as A et J CONCEPT has now. Two years later, 84.5% were still going and 4.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
84.5%
was still going
10.0%
stopped otherwise
4.5%
went bankrupt
Another 1.0% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of A et J CONCEPT itself is lower: 0.6% within 12 months. It rests on far more data about A et J CONCEPT than the profile alone.
Test of the method
The method was tested on the 497,446 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.
| 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 6,619 companies, not a prediction for A et J CONCEPT. 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.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-09-2026 | 2026-00516680 | |
| 31-12-2024 | micro format | 10-11-2025 | 2025-00567323 | |
| 31-12-2023 | micro format | 01-10-2024 | 2024-00499809 | |
| 31-12-2021 | micro format | 31-10-2022 | 2022-20481608 | |
| 31-12-2020 | micro format | 30-11-2021 | 2021-79500033 | |
| 31-12-2017 | full format | 27-09-2018 | 2018-67200316 | |
| 31-12-2016 | full format | 18-07-2017 | 2017-32800104 | |
| 31-12-2015 | full format | 25-08-2016 | 2016-56100397 | |
| 31-12-2014 | full format | 10-08-2015 | 2015-41200028 | |
| 31-12-2013 | full format | 17-09-2014 | 2014-58800581 |