Summary
CJEM is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €423,222 and a net result of €20,997. Equity is growing by about 8.6% per year across the filed financial years. Its solvency ranks better than 41% of 3,022 sector peers (NACE 64, financial year 2025). The company has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, full format
Equity
€423,222▲ 5.2%
2024 · €402,225
Net result
€20,997▼ 11.6%
2024 · €23,739
Total assets
€830,464▲ 1.6%
2024 · €817,031
Solvency
51.0%▲ 1.7pp
2024 · 49.2%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result has fallen three years in a row; 2025 is 0% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€45,659
2025
Net result€20,997
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€830,464
2025
Equity€423,222
2025
Debt€407,243
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€290,830
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)2.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency51.0%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.07
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€106,451-€58,788▼ 44.8%€43,585▼ 25.9%€58,566▲ 34.4%€54,348▼ 7.2%€45,870▼ 15.6%€45,659▼ 0.5%
Net result€73,411-€140,349within the sector's middle half▲ 91.2%€27,885within the sector's middle half▼ 80.1%€39,826within the sector's middle half▲ 42.8%€35,771within the sector's middle half▼ 10.2%€23,739within the sector's middle half▼ 33.6%€20,997within the sector's middle half▼ 11.6%
Equity€146,787-€285,536below the sector's middle half▲ 94.5%€311,821below the sector's middle half▲ 9.2%€350,046below the sector's middle half▲ 12.3%€380,152below the sector's middle half▲ 8.6%€402,225below the sector's middle half▲ 5.8%€423,222below the sector's middle half▲ 5.2%
Total assets€746,026-€762,330below the sector's middle half▲ 2.2%€749,638below the sector's middle half▼ 1.7%€747,268below the sector's middle half▼ 0.3%€805,530below the sector's middle half▲ 7.8%€817,031below the sector's middle half▲ 1.4%€830,464below the sector's middle half▲ 1.6%
Debt€599,239-€476,794▼ 20.4%€437,818▼ 8.2%€397,222▼ 9.3%€425,378▲ 7.1%€414,806▼ 2.5%€407,243▼ 1.8%
Working capital-€247,912--€204,176within the sector's middle half▲ 17.6%-€188,593within the sector's middle half▲ 7.6%-€190,632within the sector's middle half▼ 1.1%-€193,693within the sector's middle half▼ 1.6%-€213,232within the sector's middle half▼ 10.1%-€290,830within the sector's middle half▼ 36.4%
Solvency19.7%-37.5%within the sector's middle half▲ 17.8pp41.6%within the sector's middle half▲ 4.1pp46.8%within the sector's middle half▲ 5.2pp47.2%within the sector's middle half▲ 0.3pp49.2%within the sector's middle half▲ 2.0pp51.0%within the sector's middle half▲ 1.7pp
Current ratio0.08-0.02below the sector's middle half▼ 0.050.05below the sector's middle half▲ 0.020.05below the sector's middle half=0.18below the sector's middle half▲ 0.130.23below the sector's middle half▲ 0.040.07below the sector's middle half▼ 0.16
Return on assets (ROA)9.8%-18.4%above the sector's middle half▲ 8.6pp3.7%within the sector's middle half▼ 14.7pp5.3%within the sector's middle half▲ 1.6pp4.4%within the sector's middle half▼ 0.9pp2.9%within the sector's middle half▼ 1.5pp2.5%within the sector's middle half▼ 0.4pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €830,464
Fixed assets
€809,498 ▲ 7.2%
Current assets
€20,966 ▼ 66.3%
Equity and liabilities €830,464
Equity
€423,222 ▲ 5.2%
Debt
€407,243 ▼ 1.8%
Debt's share of the balance-sheet total falls from 50.8% to 49.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
5.0%▼
2024 · 5.9%
Debt ≤ 1 year
€311,797▲
2024 · €275,477
Debt > 1 year
€80,265▼
2024 · €128,391
Income taxes
€6,811▼
2024 · €7,556
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €1,915 | €3,367 | €288 | €7,508 | €7,508 | = |
| Other operating charges640/8 | - | - | €655 | €161 | €222 | €381 | €631 | ▲ 65.5% |
| Non-recurring operating charges66A | - | - | - | - | €2,353 | - | - | - |
| Gross operating margin9900 | €106,605 | €59,353 | €46,155 | €62,094 | €57,211 | €53,759 | €53,797 | ▲ 0.1% |
| Operating profit (loss)9901 | €106,451 | €58,788 | €43,585 | €58,566 | €54,348 | €45,870 | €45,659 | ▼ 0.5% |
| Financial income75/76B | - | - | €0 | - | - | €254 | - | - |
| Recurring financial income75 | - | €100,000 | €0 | - | - | €254 | - | - |
| Financial charges65/66B | - | - | €8,094 | €7,966 | €9,891 | €14,829 | €17,851 | ▲ 20.4% |
| Recurring financial charges65 | €14,169 | €8,147 | €8,094 | €7,966 | €9,891 | €14,829 | €17,851 | ▲ 20.4% |
| Profit (loss) for the period before taxes9903 | €92,282 | €150,641 | €35,491 | €50,600 | €44,457 | €31,295 | €27,808 | ▼ 11.1% |
| Income taxes67/77 | €18,872 | €10,292 | €7,606 | €10,775 | €8,685 | €7,556 | €6,811 | ▼ 9.9% |
| Profit (loss) for the period9904 | €73,411 | €140,349 | €27,885 | €39,826 | €35,771 | €23,739 | €20,997 | ▼ 11.6% |
| Profit (loss) for the period to be appropriated9905 | €73,411 | €140,349 | €27,885 | €39,826 | €35,771 | €23,739 | €20,997 | ▼ 11.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €746,026 | €762,330 | €749,638 | €747,268 | €805,530 | €817,031 | €830,464 | ▲ 1.6% |
| Fixed assets21/28 | €725,043 | €757,308 | €739,963 | €736,596 | €762,293 | €754,786 | €809,498 | ▲ 7.2% |
| Tangible fixed assets22/27 | - | - | €14,920 | €11,553 | €37,250 | €29,742 | €22,235 | ▼ 25.2% |
| Furniture and vehicles24 | - | - | €14,920 | €11,553 | €37,250 | €29,742 | €22,235 | ▼ 25.2% |
| Financial fixed assets28 | €725,043 | €757,308 | €725,043 | €725,043 | €725,043 | €725,043 | €787,263 | ▲ 8.6% |
| Current assets29/58 | €20,983 | €5,022 | €9,675 | €10,672 | €43,236 | €62,245 | €20,966 | ▼ 66.3% |
| Amounts receivable within one year40/41 | - | €448 | €1,200 | €2,318 | €18,053 | €26,058 | €4,613 | ▼ 82.3% |
| Trade receivables40 | - | - | €1,200 | - | €10,028 | €18,600 | - | - |
| Other amounts receivable41 | - | - | - | €2,318 | €8,025 | €7,458 | €4,613 | ▼ 38.1% |
| Cash at bank and in hand54/58 | €20,983 | €4,574 | €7,880 | €7,903 | €21,553 | €33,258 | €11,398 | ▼ 65.7% |
| Deferred charges and accrued income490/1 | - | - | €595 | €451 | €3,630 | €2,929 | €4,955 | ▲ 69.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €746,026 | €762,330 | €749,638 | €747,268 | €805,530 | €817,031 | €830,464 | ▲ 1.6% |
| Equity10/15 | €146,787 | €285,536 | €311,821 | €350,046 | €380,152 | €402,225 | €423,222 | ▲ 5.2% |
| Contributions10/11 | €75,000 | - | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €3,700 | €3,700 | €3,700 | €3,700 | €304,700 | €326,700 | €347,700 | ▲ 6.4% |
| Distributable reserves133 | - | - | €3,700 | €3,700 | €304,700 | €326,700 | €347,700 | ▲ 6.4% |
| Profit (loss) carried forward14 | €68,087 | €206,836 | €233,121 | €271,346 | €452 | €525 | €522 | ▼ 0.6% |
| Amounts payable17/49 | €599,239 | €476,794 | €437,818 | €397,222 | €425,378 | €414,806 | €407,243 | ▼ 1.8% |
| Amounts payable after more than one year17 | €323,333 | €263,333 | €232,974 | €190,219 | €181,220 | €128,391 | €80,265 | ▼ 37.5% |
| Financial debts170/4 | - | - | €232,974 | €190,219 | €181,220 | €128,391 | €80,265 | ▼ 37.5% |
| Amounts payable within one year42/48 | €268,894 | €209,198 | €198,268 | €201,304 | €236,930 | €275,477 | €311,797 | ▲ 13.2% |
| Current portion of amounts payable after more than one year42 | - | - | €42,754 | €42,754 | €48,846 | €48,127 | €48,127 | = |
| Trade debts44 | €7,538 | €3,630 | €4,013 | €6,269 | €6,213 | €4,653 | €4,484 | ▼ 3.6% |
| Suppliers440/4 | - | - | €4,013 | €6,269 | €6,213 | €4,653 | €4,484 | ▼ 3.6% |
| Taxes, remuneration and social security45 | - | - | €24,099 | €10,606 | €3,000 | €5,000 | €811 | ▼ 83.8% |
| Taxes450/3 | - | - | €22,099 | €10,606 | €3,000 | €5,000 | €811 | ▼ 83.8% |
| Remuneration and social security454/9 | - | - | €2,000 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | €127,402 | €141,674 | €178,870 | €217,697 | €258,374 | ▲ 18.7% |
| Accrued charges and deferred income492/3 | - | - | €6,576 | €5,699 | €7,228 | €10,937 | €15,181 | ▲ 38.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €73,411 | €140,349 | €27,885 | €39,826 | €35,771 | €23,739 | €20,997 | ▼ 11.6% |
| + Depreciation and write-downs630 | - | - | €1,915 | €3,367 | €288 | €7,508 | €7,508 | = |
| Operating cash flow (approximation) | €73,411 | €140,349 | €29,800 | €43,193 | €36,059 | €31,247 | €28,504 | ▼ 8.8% |
| Investment in fixed assets (approximation) | - | -€32,264 | €15,429 | €0 | -€25,985 | €0 | -€62,220 | - |
| Change in cash | - | -€16,408 | €3,306 | €23 | €13,650 | €11,705 | -€21,860 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 24-04-2026 | 2026-00087051 |
| 31-12-2024 | full format | 28-03-2025 | 2025-00056789 |
| 31-12-2023 | full format | 12-07-2024 | 2024-00241496 |
| 31-12-2022 | full format | 26-07-2023 | 2023-00280538 |
| 31-12-2021 | full format | 30-06-2022 | 2022-20152880 |
| 31-12-2020 | full format | 20-07-2021 | 2021-37500588 |
| 31-12-2019 | full format | 10-08-2020 | 2020-40200598 |
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Of the 24,455 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,124. 13,873 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.