Jaliem
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 15-07-2026 at the NBB all 17 filings
Turnover
≈ €81,000
Estimated: probably between €42,000 and €250,000
Total assets
€156,894▲ 3.4%
2024 · €151,760
Net result
€7,635▼ 55.8%
2024 · €17,266
Working capital
€7,008▲ 137%
2024 · €2,955
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€7,595
▼ 54.0%
2025
20182025
Net result
€7,635
▼ 55.8%
2025
middle half of the sector
20182025
Equity
-€91,910
▲ 7.7%
2025
lowest quarter of the sector
20182025
Total assets
€156,894
▲ 3.4%
2025
lowest quarter of the sector
20182025
Debt
€248,804
▼ 1.0%
2025
20182025
Working capital
€7,008
▲ 137%
2025
lowest quarter of the sector
20182025
Solvency
-58.6%
▲ 7.0pp
2025
lowest quarter of the sector
20182025
Current ratio
1.05
▲ 0.03
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
4.9%
▼ 6.5pp
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-€885-€53,757-€12,217€3,203€20,816▲ 550%€3,783▼ 81.8%€16,516▲ 337%€7,595▼ 54.0%
Net result-€1,047-€57,229-€5,629below the sector's middle half€8,102within the sector's middle half€23,657within the sector's middle half▲ 192%€6,787within the sector's middle half▼ 71.3%€17,266within the sector's middle half▲ 154%€7,635within the sector's middle half▼ 55.8%
Equity-€206,958--€149,729▲ 27.7%-€155,358below the sector's middle half▼ 3.8%-€147,256below the sector's middle half▲ 5.2%-€123,599below the sector's middle half▲ 16.1%-€116,812below the sector's middle half▲ 5.5%-€99,545below the sector's middle half▲ 14.8%-€91,910below the sector's middle half▲ 7.7%
Total assets€46,488-€87,665▲ 88.6%€83,830below the sector's middle half▼ 4.4%€94,525below the sector's middle half▲ 12.8%€126,204below the sector's middle half▲ 33.5%€140,638below the sector's middle half▲ 11.4%€151,760below the sector's middle half▲ 7.9%€156,894below the sector's middle half▲ 3.4%
Debt€253,446-€237,394▼ 6.3%€239,187▲ 0.8%€241,781▲ 1.1%€249,803▲ 3.3%€257,449▲ 3.1%€251,306▼ 2.4%€248,804▼ 1.0%
Working capital-€105,761--€47,229▲ 55.3%-€52,858below the sector's middle half▼ 11.9%-€44,756below the sector's middle half▲ 15.3%-€21,099below the sector's middle half▲ 52.9%-€14,312below the sector's middle half▲ 32.2%€2,955below the sector's middle half€7,008below the sector's middle half▲ 137%
Solvency-445.2%--170.8%▲ 274.4pp-185.3%below the sector's middle half▼ 14.5pp-155.8%below the sector's middle half▲ 29.5pp-97.9%below the sector's middle half▲ 57.8pp-83.1%below the sector's middle half▲ 14.9pp-65.6%below the sector's middle half▲ 17.5pp-58.6%below the sector's middle half▲ 7.0pp
Current ratio0.30-0.65▲ 0.350.61below the sector's middle half▼ 0.040.68below the sector's middle half▲ 0.070.86below the sector's middle half▲ 0.180.91below the sector's middle half▲ 0.051.02below the sector's middle half▲ 0.111.05below the sector's middle half▲ 0.03
Return on assets (ROA)-2.3%-65.3%▲ 67.5pp-6.7%below the sector's middle half▼ 72.0pp8.6%within the sector's middle half▲ 15.3pp18.7%above the sector's middle half▲ 10.2pp4.8%within the sector's middle half▼ 13.9pp11.4%above the sector's middle half▲ 6.6pp4.9%within the sector's middle half▼ 6.5pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 54% lower than in 2024.
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
Assets €156,894
Fixed assets
€3,582
Current assets
€153,312
Equity and liabilities
Equity-€91,910
Debt€248,804
Equity is negative. Debt (€248,804) exceeds the balance-sheet total (€156,894).
Key figures and ratios
EBITDA
€7,802
Cash flow
€7,842
Interest coverage
3.13
Debt ≤ 1 year
€146,304▼
2024 · €148,806
Debt > 1 year
€102,500=
2024 · €102,500
Income taxes
€4,574▼
2024 · €6,545
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 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €3,789 |
| Depreciation and write-downs of the year | - | - | - | - | €207 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €683 | - | - | - | - | - | - | €207 | - |
| Other operating charges640/8 | - | - | - | €796 | €102 | €159 | €324 | €507 | ▲ 56.6% |
| Gross operating margin9900 | €241 | €56,433 | -€11,728 | €3,999 | €20,918 | €3,942 | €16,840 | €8,310 | ▼ 50.7% |
| Operating profit (loss)9901 | -€885 | €53,757 | -€12,217 | €3,203 | €20,816 | €3,783 | €16,516 | €7,595 | ▼ 54.0% |
| Financial income75/76B | - | - | - | €5,471 | €6,821 | €5,951 | €7,507 | €7,104 | ▼ 5.4% |
| Recurring financial income75 | €2,881 | €3,842 | €6,639 | €5,471 | €6,821 | €5,951 | €7,507 | €7,104 | ▼ 5.4% |
| Financial charges65/66B | - | - | - | €572 | €181 | €299 | €212 | €2,490 | ▲ 12× |
| Recurring financial charges65 | €3,043 | €370 | €51 | €572 | €181 | €299 | €212 | €2,490 | ▲ 12× |
| Profit (loss) for the period before taxes9903 | -€1,047 | €57,229 | -€5,629 | €8,102 | €27,455 | €9,435 | €23,811 | €12,209 | ▼ 48.7% |
| Income taxes67/77 | - | - | - | - | €3,798 | €2,648 | €6,545 | €4,574 | ▼ 30.1% |
| Profit (loss) for the period9904 | -€1,047 | €57,229 | -€5,629 | €8,102 | €23,657 | €6,787 | €17,266 | €7,635 | ▼ 55.8% |
| Profit (loss) for the period to be appropriated9905 | -€1,047 | €57,229 | -€5,629 | €8,102 | €23,657 | €6,787 | €17,266 | €7,635 | ▼ 55.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €46,488 | €87,665 | €83,830 | €94,525 | €126,204 | €140,638 | €151,760 | €156,894 | ▲ 3.4% |
| Fixed assets21/28 | €1,303 | - | - | - | - | - | - | €3,582 | - |
| Tangible fixed assets22/27 | €1,303 | - | - | - | - | - | - | €3,582 | - |
| Furniture and vehicles24 | - | - | - | - | - | - | - | €3,582 | - |
| Current assets29/58 | €45,185 | €87,665 | €83,830 | €94,525 | €126,204 | €140,638 | €151,760 | €153,312 | ▲ 1.0% |
| Stocks and contracts in progress3 | - | - | - | - | - | €3,517 | - | - | - |
| Stocks30/36 | - | - | - | - | - | €3,517 | - | - | - |
| Amounts receivable within one year40/41 | €45,185 | €87,267 | €83,830 | €91,797 | €124,578 | €136,560 | €148,616 | €152,921 | ▲ 2.9% |
| Trade receivables40 | - | - | - | €607 | €17,893 | €17,969 | €19,465 | €19,905 | ▲ 2.3% |
| Other amounts receivable41 | - | - | - | €91,189 | €106,685 | €118,592 | €129,151 | €133,016 | ▲ 3.0% |
| Cash at bank and in hand54/58 | €0 | €398 | - | €2,728 | €1,626 | €560 | €3,145 | €391 | ▼ 87.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €46,488 | €87,665 | €83,830 | €94,525 | €126,204 | €140,638 | €151,760 | €156,894 | ▲ 3.4% |
| Equity10/15 | -€206,958 | -€149,729 | -€155,358 | -€147,256 | -€123,599 | -€116,812 | -€99,545 | -€91,910 | ▲ 7.7% |
| Contributions10/11 | €6,435 | €6,435 | - | €6,435 | €6,435 | €6,435 | €6,435 | €6,435 | = |
| Profit (loss) carried forward14 | -€213,393 | -€156,164 | -€161,793 | -€153,691 | -€130,034 | -€123,247 | -€105,980 | -€98,345 | ▲ 7.2% |
| Amounts payable17/49 | €253,446 | €237,394 | €239,187 | €241,781 | €249,803 | €257,449 | €251,306 | €248,804 | ▼ 1.0% |
| Amounts payable after more than one year17 | €102,500 | €102,500 | €102,500 | €102,500 | €102,500 | €102,500 | €102,500 | €102,500 | = |
| Trade debts175 | - | - | - | €102,500 | €102,500 | €102,500 | €102,500 | €102,500 | = |
| Amounts payable within one year42/48 | €150,946 | €134,894 | €136,687 | €139,281 | €147,303 | €154,949 | €148,806 | €146,304 | ▼ 1.7% |
| Trade debts44 | €31,692 | €29,681 | €30,616 | €33,392 | €37,837 | €42,461 | €12,230 | €800 | ▼ 93.5% |
| Suppliers440/4 | - | - | - | €33,392 | €37,837 | €42,461 | €12,230 | €800 | ▼ 93.5% |
| Taxes, remuneration and social security45 | - | - | - | €738 | €4,315 | €7,338 | €8,259 | €11,775 | ▲ 42.6% |
| Taxes450/3 | - | - | - | €738 | €4,315 | €7,338 | €8,259 | €11,775 | ▲ 42.6% |
| Other amounts payable47/48 | - | - | - | €105,151 | €105,151 | €105,151 | €128,317 | €133,729 | ▲ 4.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,047 | €57,229 | -€5,629 | €8,102 | €23,657 | €6,787 | €17,266 | €7,635 | ▼ 55.8% |
| + Depreciation and write-downs630 | €683 | - | - | - | - | - | - | €207 | - |
| Operating cash flow (approximation) | -€364 | €57,229 | -€5,629 | €8,102 | €23,657 | €6,787 | €17,266 | €7,842 | ▼ 54.6% |
| Change in cash | - | €398 | - | - | -€1,102 | -€1,066 | €2,584 | -€2,753 | - |
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, 1,379 companies had the same profile as Jaliem has now. Two years later, 94.3% were still going and 2.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a profit under 5% of the balance sheet
94.3%
was still going
3.2%
stopped otherwise
2.4%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Jaliem itself: 1.0% 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 1,379 companies, not a prediction for Jaliem. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 15-07-2026 | 2026-00295716 | |
| 31-12-2024 | abbreviated format | 02-07-2025 | 2025-00216238 | |
| 31-12-2023 | abbreviated format | 28-06-2024 | 2024-00183518 | |
| 31-12-2022 | abbreviated format | 19-07-2023 | 2023-00255015 | |
| 31-12-2021 | abbreviated format | 30-06-2022 | 2022-20153320 | |
| 31-12-2020 | abbreviated format | 27-08-2021 | 2021-55400387 | |
| 31-12-2019 | abbreviated format | 29-07-2020 | 2020-35700333 | |
| 31-12-2018 | abbreviated format | 29-08-2019 | 2019-57000265 | |
| 31-12-2017 | abbreviated format | 24-08-2018 | 2018-50000547 | |
| 31-12-2016 | abbreviated format | 28-08-2017 | 2017-51000017 |