JADE
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00462018.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 14 filings
Turnover
≈ €99,000
Estimated: probably between €66,000 and €170,000
Total assets
€196,615▲ 7.2%
2024 · €183,409
Net result
€8,444▼ 24.0%
2024 · €11,113
Working capital
-€30,909▲ 22.2%
2024 · -€39,719
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€14,266
▼ 14.5%
2025
20182025
Net result
€8,444
▼ 24.0%
2025
lowest quarter of the sector
20182025
Equity
€129,965
▲ 6.9%
2025
middle half of the sector
20182025
Total assets
€196,615
▲ 7.2%
2025
middle half of the sector
20182025
Debt
€66,650
▲ 7.7%
2025
20182025
Working capital
-€30,909
▲ 22.2%
2025
lowest quarter of the sector
20182025
Solvency
66.1%
▼ 0.2pp
2025
middle half of the sector
20182025
Current ratio
0.54
▲ 0.18
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
4.3%
▼ 1.8pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€23,075-€18,806▼ 18.5%€17,383▼ 7.6%€12,233▼ 29.6%€2,866▼ 76.6%€6,181▲ 116%€16,687▲ 170%€14,266▼ 14.5%
Net result€14,221-€11,608▼ 18.4%€11,323below the sector's middle half▼ 2.5%€7,800below the sector's middle half▼ 31.1%€1,845below the sector's middle half▼ 76.3%€3,749below the sector's middle half▲ 103%€11,113below the sector's middle half▲ 196%€8,444below the sector's middle half▼ 24.0%
Equity€79,003-€89,812▲ 13.7%€101,134within the sector's middle half▲ 12.6%€108,930within the sector's middle half▲ 7.7%€106,660within the sector's middle half▼ 2.1%€110,409within the sector's middle half▲ 3.5%€121,521within the sector's middle half▲ 10.1%€129,965within the sector's middle half▲ 6.9%
Total assets€163,523-€169,441▲ 3.6%€164,233within the sector's middle half▼ 3.1%€156,662within the sector's middle half▼ 4.6%€172,648within the sector's middle half▲ 10.2%€179,086within the sector's middle half▲ 3.7%€183,409within the sector's middle half▲ 2.4%€196,615within the sector's middle half▲ 7.2%
Debt€84,520-€79,630▼ 5.8%€63,099▼ 20.8%€47,732▼ 24.4%€65,989▲ 38.2%€68,678▲ 4.1%€61,888▼ 9.9%€66,650▲ 7.7%
Working capital-€78,157--€65,548▲ 16.1%-€52,466below the sector's middle half▲ 20.0%-€44,820below the sector's middle half▲ 14.6%-€56,335below the sector's middle half▼ 25.7%-€50,421below the sector's middle half▲ 10.5%-€39,719below the sector's middle half▲ 21.2%-€30,909below the sector's middle half▲ 22.2%
Solvency48.3%-53.0%▲ 4.7pp61.6%within the sector's middle half▲ 8.6pp69.5%within the sector's middle half▲ 8.0pp61.8%within the sector's middle half▼ 7.8pp61.7%within the sector's middle half▼ 0.1pp66.3%within the sector's middle half▲ 4.6pp66.1%within the sector's middle half▼ 0.2pp
Current ratio0.07-0.18▲ 0.100.17below the sector's middle half▼ 0.010.06below the sector's middle half▼ 0.110.15below the sector's middle half▲ 0.090.27below the sector's middle half▲ 0.120.36below the sector's middle half▲ 0.090.54below the sector's middle half▲ 0.18
Return on assets (ROA)8.7%-6.9%▼ 1.8pp6.9%within the sector's middle half=5.0%below the sector's middle half▼ 1.9pp1.1%below the sector's middle half▼ 3.9pp2.1%below the sector's middle half▲ 1.0pp6.1%below the sector's middle half▲ 4.0pp4.3%below the sector's middle half▼ 1.8pp
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). 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 15% 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €196,615
Fixed assets
€160,874 ▼ 0.2%
Current assets
€35,740 ▲ 61.2%
Equity and liabilities €196,615
Equity
€129,965 ▲ 6.9%
Debt
€66,650 ▲ 7.7%
Debt's share of the balance-sheet total rises from 33.7% to 33.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€16,000▼
2024 · €17,928
Cash flow
€10,178▼
2024 · €12,354
Debt to equity
0.51▲
2024 · 0.51
ROE
6.5%▼
2024 · 9.1%
Interest coverage
10.27▼
2024 · 51.33
Debt ≤ 1 year
€66,650▲
2024 · €61,888
Income taxes
€4,265▼
2024 · €5,226
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 | €2,881 | €12,038 | - | €1,680 | €1,368 |
| Depreciation and write-downs of the year | €2,731 | €2,793 | €2,164 | €1,241 | €1,734 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €6,496 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,800 | €1,800 | €1,800 | €2,731 | €2,793 | €2,164 | €1,241 | €1,734 | ▲ 39.7% |
| Other operating charges640/8 | - | - | - | €1,065 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | €24,875 | €20,953 | €19,630 | €16,029 | €6,007 | €8,730 | €18,315 | €16,400 | ▼ 10.5% |
| Operating profit (loss)9901 | €23,075 | €18,806 | €17,383 | €12,233 | €2,866 | €6,181 | €16,687 | €14,266 | ▼ 14.5% |
| Financial income75/76B | - | - | - | €0 | - | - | €0 | €0 | ▼ 5.9% |
| Recurring financial income75 | - | - | €0 | €0 | - | - | €0 | €0 | ▼ 5.9% |
| Financial charges65/66B | - | - | - | €63 | €92 | €156 | €349 | €1,558 | ▲ 346% |
| Recurring financial charges65 | €215 | €61 | €72 | €63 | €92 | €156 | €349 | €1,558 | ▲ 346% |
| Profit (loss) for the period before taxes9903 | €22,860 | €18,745 | €17,311 | €12,170 | €2,774 | €6,025 | €16,338 | €12,709 | ▼ 22.2% |
| Income taxes67/77 | €8,639 | €7,137 | €5,988 | €4,370 | €929 | €2,276 | €5,226 | €4,265 | ▼ 18.4% |
| Profit (loss) for the period9904 | €14,221 | €11,608 | €11,323 | €7,800 | €1,845 | €3,749 | €11,113 | €8,444 | ▼ 24.0% |
| Profit (loss) for the period to be appropriated9905 | €14,221 | €11,608 | €11,323 | €7,800 | €1,845 | €3,749 | €11,113 | €8,444 | ▼ 24.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €163,523 | €169,441 | €164,233 | €156,662 | €172,648 | €179,086 | €183,409 | €196,615 | ▲ 7.2% |
| Fixed assets21/28 | €157,200 | €155,400 | €153,600 | €153,750 | €162,994 | €160,830 | €161,240 | €160,874 | ▼ 0.2% |
| Tangible fixed assets22/27 | €7,200 | €5,400 | €3,600 | €3,750 | €12,994 | €10,830 | €11,240 | €10,874 | ▼ 3.3% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €1,643 | €2,481 | ▲ 51.0% |
| Furniture and vehicles24 | - | - | - | €3,750 | €12,994 | €10,830 | €9,597 | €8,394 | ▼ 12.5% |
| Financial fixed assets28 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Current assets29/58 | €6,323 | €14,041 | €10,633 | €2,912 | €9,654 | €18,256 | €22,169 | €35,740 | ▲ 61.2% |
| Amounts receivable within one year40/41 | - | €3,750 | €6,259 | €1,307 | €5,103 | €2,724 | €162 | €27,000 | ▲ 167× |
| Trade receivables40 | - | - | - | €446 | €1,018 | - | €162 | - | - |
| Other amounts receivable41 | - | - | - | €861 | €4,086 | €2,724 | - | €27,000 | - |
| Cash at bank and in hand54/58 | €4,020 | €10,199 | €4,299 | €1,376 | €4,185 | €15,352 | €20,933 | €7,707 | ▼ 63.2% |
| Deferred charges and accrued income490/1 | - | - | - | €230 | €365 | €180 | €1,074 | €1,033 | ▼ 3.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €163,523 | €169,441 | €164,233 | €156,662 | €172,648 | €179,086 | €183,409 | €196,615 | ▲ 7.2% |
| Equity10/15 | €79,003 | €89,812 | €101,134 | €108,930 | €106,660 | €110,409 | €121,521 | €129,965 | ▲ 6.9% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €60,403 | €71,212 | €82,534 | €90,330 | €88,060 | €91,809 | €102,921 | €111,365 | ▲ 8.2% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €88,470 | €86,200 | €91,809 | €102,921 | €111,365 | ▲ 8.2% |
| Amounts payable17/49 | €84,520 | €79,630 | €63,099 | €47,732 | €65,989 | €68,678 | €61,888 | €66,650 | ▲ 7.7% |
| Amounts payable within one year42/48 | €84,480 | €79,590 | €63,099 | €47,732 | €65,989 | €68,678 | €61,888 | €66,650 | ▲ 7.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €1,687 | - | - | - |
| Trade debts44 | €325 | €1,388 | €286 | €696 | €4,283 | €380 | €1,467 | €896 | ▼ 38.9% |
| Suppliers440/4 | - | - | - | €696 | €4,283 | €380 | €1,467 | €896 | ▼ 38.9% |
| Advances received on contracts in progress46 | - | - | - | €1,813 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €1,500 | €884 | €635 | €3,452 | €3,534 | ▲ 2.4% |
| Taxes450/3 | - | - | - | €1,500 | €884 | €635 | €3,452 | €3,534 | ▲ 2.4% |
| Other amounts payable47/48 | - | - | - | €43,724 | €60,821 | €65,976 | €56,969 | €62,219 | ▲ 9.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,221 | €11,608 | €11,323 | €7,800 | €1,845 | €3,749 | €11,113 | €8,444 | ▼ 24.0% |
| + Depreciation and write-downs630 | €1,800 | €1,800 | €1,800 | €2,731 | €2,793 | €2,164 | €1,241 | €1,734 | ▲ 39.7% |
| Operating cash flow (approximation) | €16,021 | €13,408 | €13,123 | €10,531 | €4,638 | €5,913 | €12,354 | €10,178 | ▼ 17.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€2,881 | -€12,038 | €0 | -€1,651 | -€1,368 | ▲ 17.1% |
| Change in cash | - | €6,179 | -€5,900 | -€2,923 | €2,809 | €11,167 | €5,581 | -€13,226 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00462018 | |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00341868 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00428480 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00408239 | |
| 31-12-2021 | micro format | 29-07-2022 | 2022-20245010 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-65000068 | |
| 31-12-2019 | micro format | 09-11-2020 | 2020-70600548 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-60600169 | |
| 31-12-2017 | micro format | 31-07-2018 | 2018-43700212 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-56600170 |