DJ Consultancy
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 11 filings
Turnover
≈ €120,000
Estimated: probably between €82,000 and €160,000
Total assets
€137,791▲ 6.1%
2024 · €129,922
Net result
€15,806▲ 12×
2024 · €1,362
Working capital
€58,702▲ 42.2%
2024 · €41,275
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€24,933
▲ 319%
2025
20182025
Net result
€15,806
▲ 12×
2025
middle half of the sector
20182025
Equity
€81,904
▲ 23.9%
2025
middle half of the sector
20182025
Total assets
€137,791
▲ 6.1%
2025
middle half of the sector
20182025
Debt
€55,887
▼ 12.4%
2025
20182025
Working capital
€58,702
▲ 42.2%
2025
middle half of the sector
20182025
Solvency
59.4%
▲ 8.6pp
2025
middle half of the sector
20182025
Current ratio
3.22
▲ 0.07
2025
middle half of the sector
20182025
Return on assets (ROA)
11.5%
▲ 10.4pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€22,359-€4,562▼ 79.6%€10,877▲ 138%€29,323▲ 170%€4,645▼ 84.2%€5,682▲ 22.3%€5,955▲ 4.8%€24,933▲ 319%
Net result€13,454-€791▼ 94.1%€4,868within the sector's middle half▲ 515%€19,244within the sector's middle half▲ 295%€876within the sector's middle half▼ 95.4%€2,624within the sector's middle half▲ 199%€1,362within the sector's middle half▼ 48.1%€15,806within the sector's middle half▲ 12×
Equity€55,420-€56,211▲ 1.4%€61,080within the sector's middle half▲ 8.7%€80,323within the sector's middle half▲ 31.5%€81,199within the sector's middle half▲ 1.1%€64,735within the sector's middle half▼ 20.3%€66,097within the sector's middle half▲ 2.1%€81,904within the sector's middle half▲ 23.9%
Total assets€123,302-€97,457▼ 21.0%€89,974below the sector's middle half▼ 7.7%€98,064below the sector's middle half▲ 9.0%€91,829below the sector's middle half▼ 6.4%€147,933below the sector's middle half▲ 61.1%€129,922below the sector's middle half▼ 12.2%€137,791within the sector's middle half▲ 6.1%
Debt€67,882-€41,245▼ 39.2%€28,895▼ 29.9%€17,741▼ 38.6%€10,630▼ 40.1%€83,198▲ 683%€63,825▼ 23.3%€55,887▼ 12.4%
Working capital€34,005-€38,854▲ 14.3%€42,305within the sector's middle half▲ 8.9%€60,652within the sector's middle half▲ 43.4%€73,282within the sector's middle half▲ 20.8%€38,915within the sector's middle half▼ 46.9%€41,275within the sector's middle half▲ 6.1%€58,702within the sector's middle half▲ 42.2%
Solvency44.9%-57.7%▲ 12.7pp67.9%within the sector's middle half▲ 10.2pp81.9%above the sector's middle half▲ 14.0pp88.4%above the sector's middle half▲ 6.5pp43.8%within the sector's middle half▼ 44.7pp50.9%within the sector's middle half▲ 7.1pp59.4%within the sector's middle half▲ 8.6pp
Current ratio2.01-3.00▲ 0.993.17within the sector's middle half▲ 0.174.42above the sector's middle half▲ 1.257.89above the sector's middle half▲ 3.482.71within the sector's middle half▼ 5.183.15within the sector's middle half▲ 0.443.22within the sector's middle half▲ 0.07
Return on assets (ROA)10.9%-0.8%▼ 10.1pp5.4%within the sector's middle half▲ 4.6pp19.6%above the sector's middle half▲ 14.2pp1.0%within the sector's middle half▼ 18.7pp1.8%within the sector's middle half▲ 0.8pp1.0%within the sector's middle half▼ 0.7pp11.5%within the sector's middle half▲ 10.4pp
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 4.2 times that of 2024. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €137,791
Fixed assets
€52,674 ▼ 24.2%
Current assets
€85,117 ▲ 40.8%
Equity and liabilities €137,791
Equity
€81,904 ▲ 23.9%
Debt
€55,887 ▼ 12.4%
Debt's share of the balance-sheet total falls from 49.1% to 40.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€43,479▲
2024 · €24,013
Cash flow
€34,352▲
2024 · €19,421
Debt to equity
0.68▼
2024 · 0.97
ROE
19.3%▲
2024 · 2.1%
Interest coverage
18.24▲
2024 · 7.36
Debt ≤ 1 year
€26,416▲
2024 · €19,163
Debt > 1 year
€29,471▼
2024 · €44,662
Income taxes
€8,051▲
2024 · €2,624
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,817 | - | €88,714 | €1,272 | €1,736 |
| Depreciation and write-downs of the year | €11,321 | €11,754 | €4,236 | €18,058 | €18,546 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · €2,193 awarded · €2,193 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1,278 | €1,278 |
| 2024 | 1 | €915 | €915 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €5,000 | - | €6,545 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,269 | €16,394 | €11,025 | €11,321 | €11,754 | €4,236 | €18,058 | €18,546 | ▲ 2.7% |
| Other operating charges640/8 | - | - | - | €1,368 | €977 | €1,446 | €484 | €965 | ▲ 99.5% |
| Gross operating margin9900 | €39,942 | €22,228 | €23,068 | €42,012 | €17,376 | €11,364 | €24,497 | €44,444 | ▲ 81.4% |
| Operating profit (loss)9901 | €22,359 | €4,562 | €10,877 | €29,323 | €4,645 | €5,682 | €5,955 | €24,933 | ▲ 319% |
| Financial income75/76B | - | - | - | €177 | €976 | €1,241 | €1,293 | €1,308 | ▲ 1.2% |
| Recurring financial income75 | €380 | €1,015 | €23 | €177 | €976 | €1,241 | €1,293 | €1,308 | ▲ 1.2% |
| Financial charges65/66B | - | - | - | €298 | €426 | €1,252 | €3,261 | €2,383 | ▼ 26.9% |
| Recurring financial charges65 | €594 | €511 | €404 | €298 | €426 | €1,252 | €3,261 | €2,383 | ▼ 26.9% |
| Profit (loss) for the period before taxes9903 | €22,145 | €5,065 | €10,496 | €29,201 | €5,195 | €5,672 | €3,987 | €23,858 | ▲ 498% |
| Income taxes67/77 | €8,691 | €4,274 | €5,628 | €9,958 | €4,319 | €3,048 | €2,624 | €8,051 | ▲ 207% |
| Profit (loss) for the period9904 | €13,454 | €791 | €4,868 | €19,244 | €876 | €2,624 | €1,362 | €15,806 | ▲ 12× |
| Profit (loss) for the period to be appropriated9905 | €13,454 | €791 | €4,868 | €19,244 | €876 | €2,624 | €1,362 | €15,806 | ▲ 12× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €123,302 | €97,457 | €89,974 | €98,064 | €91,829 | €147,933 | €129,922 | €137,791 | ▲ 6.1% |
| Fixed assets21/28 | €55,595 | €39,201 | €28,176 | €19,671 | €7,917 | €86,271 | €69,484 | €52,674 | ▼ 24.2% |
| Tangible fixed assets22/27 | €55,595 | €39,201 | €28,176 | €19,671 | €7,917 | €86,271 | €69,484 | €52,674 | ▼ 24.2% |
| Furniture and vehicles24 | - | - | - | €19,671 | €7,917 | €85,050 | €68,395 | €51,715 | ▼ 24.4% |
| Other tangible fixed assets26 | - | - | - | - | - | €1,220 | €1,089 | €959 | ▼ 12.0% |
| Current assets29/58 | €67,707 | €58,256 | €61,799 | €78,393 | €83,912 | €61,663 | €60,438 | €85,117 | ▲ 40.8% |
| Amounts receivable after more than one year29 | - | - | - | €6,188 | €2,813 | - | - | - | - |
| Other amounts receivable291 | - | - | - | €6,188 | €2,813 | - | - | - | - |
| Amounts receivable within one year40/41 | €49,217 | €46,890 | €31,257 | €23,056 | €47,354 | €28,532 | €27,340 | €18,645 | ▼ 31.8% |
| Trade receivables40 | - | - | - | - | €17,915 | - | €5,038 | €5,100 | ▲ 1.2% |
| Other amounts receivable41 | - | - | - | €23,056 | €29,439 | €28,532 | €22,302 | €13,545 | ▼ 39.3% |
| Cash at bank and in hand54/58 | €18,490 | €9,418 | €20,979 | €48,650 | €32,908 | €31,386 | €31,371 | €65,113 | ▲ 108% |
| Deferred charges and accrued income490/1 | - | - | - | €500 | €837 | €1,745 | €1,727 | €1,359 | ▼ 21.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €123,302 | €97,457 | €89,974 | €98,064 | €91,829 | €147,933 | €129,922 | €137,791 | ▲ 6.1% |
| Equity10/15 | €55,420 | €56,211 | €61,080 | €80,323 | €81,199 | €64,735 | €66,097 | €81,904 | ▲ 23.9% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €8,060 | €8,060 | €8,060 | €8,060 | = |
| Reserves13 | €49,220 | €50,011 | €54,880 | €74,123 | €73,139 | €56,675 | €58,037 | €73,844 | ▲ 27.2% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €72,263 | €73,139 | €56,675 | €58,037 | €73,844 | ▲ 27.2% |
| Amounts payable17/49 | €67,882 | €41,245 | €28,895 | €17,741 | €10,630 | €83,198 | €63,825 | €55,887 | ▼ 12.4% |
| Amounts payable after more than one year17 | €34,180 | €21,843 | €9,401 | - | - | €60,450 | €44,662 | €29,471 | ▼ 34.0% |
| Financial debts170/4 | - | - | - | - | - | €60,450 | €44,662 | €29,471 | ▼ 34.0% |
| Amounts payable within one year42/48 | €33,702 | €19,402 | €19,494 | €17,741 | €10,630 | €22,748 | €19,163 | €26,416 | ▲ 37.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €9,401 | - | €13,981 | €14,597 | €16,582 | ▲ 13.6% |
| Financial debts43 | - | - | - | €2,088 | €2,090 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €2,088 | €2,090 | - | - | - | - |
| Trade debts44 | €5,010 | €1,939 | €3,393 | €1,448 | €4,302 | €8,767 | €1,910 | €4,707 | ▲ 146% |
| Suppliers440/4 | - | - | - | €1,448 | €4,302 | €8,767 | €1,910 | €4,707 | ▲ 146% |
| Taxes, remuneration and social security45 | - | - | - | €4,804 | €4,237 | - | €2,655 | €5,127 | ▲ 93.1% |
| Taxes450/3 | - | - | - | €4,804 | €4,237 | - | €2,655 | €5,127 | ▲ 93.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,454 | €791 | €4,868 | €19,244 | €876 | €2,624 | €1,362 | €15,806 | ▲ 12× |
| + Depreciation and write-downs630 | €10,269 | €16,394 | €11,025 | €11,321 | €11,754 | €4,236 | €18,058 | €18,546 | ▲ 2.7% |
| Operating cash flow (approximation) | €23,723 | €17,185 | €15,894 | €30,565 | €12,630 | €6,859 | €19,421 | €34,352 | ▲ 76.9% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€2,817 | €0 | -€82,589 | -€1,272 | -€1,736 | ▼ 36.5% |
| Change in cash | - | -€9,072 | €11,562 | €27,671 | -€15,741 | -€1,522 | -€15 | €33,742 | - |
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, 34,693 companies had the same profile as DJ Consultancy has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of DJ Consultancy itself: 0.1% within 12 months.
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 34,693 companies, not a prediction for DJ Consultancy. 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 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-06-2026 | 2026-00210779 | |
| 31-12-2024 | abbreviated format | 29-06-2025 | 2025-00192840 | |
| 31-12-2023 | abbreviated format | 30-06-2024 | 2024-00204444 | |
| 31-12-2022 | abbreviated format | 02-07-2023 | 2023-00187168 | |
| 31-12-2021 | abbreviated format | 29-06-2022 | 2022-20107178 | |
| 31-12-2020 | abbreviated format | 20-06-2021 | 2021-21900353 | |
| 31-12-2019 | abbreviated format | 22-06-2020 | 2020-19900203 | |
| 31-12-2018 | abbreviated format | 17-06-2019 | 2019-18900561 | |
| 31-12-2017 | abbreviated format | 21-06-2018 | 2018-21400449 | |
| 31-12-2016 | abbreviated format | 13-06-2017 | 2017-17300504 |