Hojo
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2025 is 31% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | - | €31,150 | €15,000 |
| Financial fixed assets | €4,500 | €8,942 | - |
| Depreciation and write-downs of the year | €952 | €5,542 | €6,477 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €952 | €5,542 | €6,477 | ▲ 16.9% |
| Other operating charges640/8 | €384 | €451 | €719 | ▲ 59.5% |
| Gross operating margin9900 | €2,912 | €11,058 | €10,703 | ▼ 3.2% |
| Operating profit (loss)9901 | €1,576 | €5,065 | €3,507 | ▼ 30.8% |
| Financial income75/76B | €29 | €26 | €16 | ▼ 38.3% |
| Recurring financial income75 | €29 | €26 | €16 | ▼ 38.3% |
| Financial charges65/66B | €0 | €81 | €211 | ▲ 160% |
| Recurring financial charges65 | €0 | €81 | €211 | ▲ 160% |
| Profit (loss) for the period before taxes9903 | €1,605 | €5,009 | €3,311 | ▼ 33.9% |
| Income taxes67/77 | €322 | €503 | €662 | ▲ 31.5% |
| Profit (loss) for the period9904 | €1,283 | €4,506 | €2,649 | ▼ 41.2% |
| Profit (loss) for the period to be appropriated9905 | €1,283 | €4,506 | €2,649 | ▼ 41.2% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €31,390 | €68,610 | €123,509 | ▲ 80.0% |
| Formation expenses20 | €657 | - | - | - |
| Fixed assets21/28 | €4,500 | €39,707 | €48,230 | ▲ 21.5% |
| Tangible fixed assets22/27 | - | €26,265 | €34,788 | ▲ 32.5% |
| Furniture and vehicles24 | - | €26,265 | €34,788 | ▲ 32.5% |
| Financial fixed assets28 | €4,500 | €13,442 | €13,442 | = |
| Current assets29/58 | €26,233 | €28,903 | €75,279 | ▲ 160% |
| Stocks and contracts in progress3 | €5,441 | €9,007 | - | - |
| Stocks30/36 | €5,441 | €9,007 | - | - |
| Amounts receivable within one year40/41 | €3,643 | €16,574 | €75,074 | ▲ 353% |
| Trade receivables40 | €2,977 | €16,574 | €32,797 | ▲ 97.9% |
| Other amounts receivable41 | €666 | - | €42,277 | - |
| Cash at bank and in hand54/58 | €17,150 | €3,226 | €99 | ▼ 96.9% |
| Deferred charges and accrued income490/1 | - | €96 | €106 | ▲ 9.8% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €31,390 | €68,610 | €123,509 | ▲ 80.0% |
| Equity10/15 | €5,450 | €9,123 | €10,939 | ▲ 19.9% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €450 | €4,123 | €5,939 | ▲ 44.0% |
| Distributable reserves133 | €450 | €4,123 | €5,939 | ▲ 44.0% |
| Amounts payable17/49 | €25,940 | €59,487 | €112,570 | ▲ 89.2% |
| Amounts payable within one year42/48 | €25,940 | €59,487 | €112,570 | ▲ 89.2% |
| Trade debts44 | €448 | €3,963 | €1,125 | ▼ 71.6% |
| Suppliers440/4 | €448 | €3,963 | €1,125 | ▼ 71.6% |
| Taxes, remuneration and social security45 | €506 | €2,574 | €713 | ▼ 72.3% |
| Taxes450/3 | €506 | €2,574 | €713 | ▼ 72.3% |
| Other amounts payable47/48 | €24,986 | €52,950 | €110,733 | ▲ 109% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,283 | €4,506 | €2,649 | ▼ 41.2% |
| + Depreciation and write-downs630 | €952 | €5,542 | €6,477 | ▲ 16.9% |
| Operating cash flow (approximation) | €2,235 | €10,048 | €9,126 | ▼ 9.2% |
| Investment in fixed assets (approximation) | - | -€40,749 | -€15,000 | ▲ 63.2% |
| Change in cash | - | -€13,923 | -€3,127 | ▲ 77.5% |
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, 2,135 companies had the same profile as Hojo has now. Two years later, 92.0% were still going and 5.2% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency under 10%
- a profit under 5% of the balance sheet
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Hojo itself: 3.6% 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 2,135 companies, not a prediction for Hojo. 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.