JBE Technics
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 73 days after the deadline Filed on 12 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00553813.
Annual accounts 2025 filed on 12-10-2026 at the NBB all 5 filings
Turnover
€255,290
EBIT margin
1.3%
Net result
€17,281▲ 887%
2024 · €1,751
Working capital
€57,704▲ 45.1%
2024 · €39,759
Multi-year overview
2021 to 2025, 5 financial yearsTurnover
no figure
2025
20212025
Operating result
€84,144
▲ 600%
2025
20212025
Net result
€17,281
▲ 887%
2025
middle half of the sector
20212025
EBIT margin
no figure
2025
20212025
Equity
€44,980
▲ 62.4%
2025
lowest quarter of the sector
20212025
Total assets
€300,034
▲ 38.7%
2025
lowest quarter of the sector
20212025
Debt
€255,054
▲ 35.2%
2025
20212025
Working capital
€57,704
▲ 45.1%
2025
middle half of the sector
20212025
Solvency
15.0%
▲ 2.2pp
2025
lowest quarter of the sector
20212025
Current ratio
1.24
▲ 0.01
2025
middle half of the sector
20212025
Return on assets (ROA)
5.8%
▲ 5.0pp
2025
middle half of the sector
20212025
Staff (FTE)
2.3
▲ 43.8%
2025
lowest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Turnover€255,290-
Operating result€3,384-€9,771▲ 189%€25,187▲ 158%€12,026▼ 52.3%€84,144▲ 600%
Net result€599below the sector's middle half-€4,786within the sector's middle half▲ 699%€15,563within the sector's middle half▲ 225%€1,751below the sector's middle half▼ 88.7%€17,281within the sector's middle half▲ 887%
EBIT margin1.3%-
Equity€5,599below the sector's middle half-€10,384below the sector's middle half▲ 85.5%€25,948within the sector's middle half▲ 150%€27,699below the sector's middle half▲ 6.7%€44,980below the sector's middle half▲ 62.4%
Total assets€86,048within the sector's middle half-€103,951within the sector's middle half▲ 20.8%€125,515within the sector's middle half▲ 20.7%€216,376below the sector's middle half▲ 72.4%€300,034below the sector's middle half▲ 38.7%
Debt€80,449-€93,567▲ 16.3%€99,567▲ 6.4%€188,677▲ 89.5%€255,054▲ 35.2%
Working capital€22,457within the sector's middle half-€19,883within the sector's middle half▼ 11.5%€38,868within the sector's middle half▲ 95.5%€39,759within the sector's middle half▲ 2.3%€57,704within the sector's middle half▲ 45.1%
Solvency6.5%below the sector's middle half-10.0%below the sector's middle half▲ 3.5pp20.7%below the sector's middle half▲ 10.7pp12.8%below the sector's middle half▼ 7.9pp15.0%below the sector's middle half▲ 2.2pp
Current ratio1.41within the sector's middle half-1.26within the sector's middle half▼ 0.151.46within the sector's middle half▲ 0.201.23within the sector's middle half▼ 0.231.24within the sector's middle half▲ 0.01
Return on assets (ROA)0.7%below the sector's middle half-4.6%within the sector's middle half▲ 3.9pp12.4%within the sector's middle half▲ 7.8pp0.8%below the sector's middle half▼ 11.6pp5.8%within the sector's middle half▲ 5.0pp
Staff (FTE)2.3-2▼ 13.0%1.6▼ 20.0%1.6below the sector's middle half=2.3below the sector's middle half▲ 43.8%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 7 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €300,034
Fixed assets
€275 ▼ 70.7%
Current assets
€299,758 ▲ 39.1%
Equity and liabilities €300,034
Equity
€44,980 ▲ 62.4%
Debt
€255,054 ▲ 35.2%
Debt's share of the balance-sheet total falls from 87.2% to 85.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€84,808▲
2024 · €13,564
Cash flow
€17,945▲
2024 · €3,289
Quick ratio
1.22▲
2024 · 1.21
Debt to equity
5.67▼
2024 · 6.81
ROE
38.4%▲
2024 · 6.3%
Interest coverage
1.74▲
2024 · 1.50
Debt ≤ 1 year
€242,054▲
2024 · €175,677
Debt > 1 year
€13,000=
2024 · €13,000
Income taxes
€6,116▲
2024 · €1,280
Supplier credit
148 days▲
2024 · 100 days
Staff costs
€173,806▲
2024 · €117,296
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 | 2 | 3 |
| full-time | 2 | 2 | 1 | 1 | 3 |
| part-time | - | - | 1 | 1 | - |
| in full-time equivalents | 2 | 2 | 1.9 | 1.9 | 3 |
| Average over the year, in full-time equivalents | 2.3 | 2 | 1.6 | 1.6 | 2.3 |
| On a permanent contract | 2 | 2 | 2 | 1 | 3 |
| Joined | 3 | - | - | 1 | 1 |
| Left | 2 | - | - | 1 | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | €3,581 | - | - | - | €11,859 |
| Overdue social security (RSZ) debts | €14,508 | - | - | - | €42,265 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €13,069 | €3,197 | - | €398 | - |
| Depreciation and write-downs of the year | €3,927 | €4,837 | €5,422 | €1,538 | €664 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €255,290 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €155,335 | €270,614 | €205,818 | €432,449 | €340,109 | ▼ 21.4% |
| Remuneration, social security and pensions62 | €103,714 | €111,544 | €120,599 | €117,296 | €173,806 | ▲ 48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,927 | €4,837 | €5,422 | €1,538 | €664 | ▼ 56.8% |
| Other operating charges640/8 | €535 | €1,766 | €1,484 | €2,195 | €850 | ▼ 61.3% |
| Gross operating margin9900 | €111,559 | €127,919 | €152,692 | €133,055 | €259,465 | ▲ 95.0% |
| Operating profit (loss)9901 | €3,384 | €9,771 | €25,187 | €12,026 | €84,144 | ▲ 600% |
| Financial income75/76B | €26 | €26 | €22 | €55 | €8 | ▼ 86.2% |
| Recurring financial income75 | €26 | €26 | €22 | €55 | €8 | ▼ 86.2% |
| Financial charges65/66B | €2,426 | €3,219 | €4,756 | €9,048 | €60,755 | ▲ 571% |
| Recurring financial charges65 | €2,426 | €3,219 | €4,756 | €9,048 | €48,747 | ▲ 439% |
| Non-recurring financial charges66B | - | - | - | - | €12,008 | - |
| Profit (loss) for the period before taxes9903 | €984 | €6,578 | €20,453 | €3,032 | €23,396 | ▲ 672% |
| Income taxes67/77 | €386 | €1,792 | €4,890 | €1,280 | €6,116 | ▲ 378% |
| Profit (loss) for the period9904 | €599 | €4,786 | €15,563 | €1,751 | €17,281 | ▲ 887% |
| Profit (loss) for the period to be appropriated9905 | €599 | €4,786 | €15,563 | €1,751 | €17,281 | ▲ 887% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €86,048 | €103,951 | €125,515 | €216,376 | €300,034 | ▲ 38.7% |
| Fixed assets21/28 | €9,142 | €7,501 | €2,080 | €940 | €275 | ▼ 70.7% |
| Tangible fixed assets22/27 | €9,142 | €7,501 | €2,080 | €940 | €275 | ▼ 70.7% |
| Plant, machinery and equipment23 | €1,822 | €989 | €155 | €355 | €275 | ▼ 22.4% |
| Furniture and vehicles24 | €7,320 | €6,513 | €1,924 | €585 | - | - |
| Current assets29/58 | €76,906 | €96,450 | €123,435 | €215,436 | €299,758 | ▲ 39.1% |
| Stocks and contracts in progress3 | €14,692 | €5,636 | €4,220 | €3,280 | €3,280 | = |
| Stocks30/36 | €5,428 | €5,636 | €4,220 | €3,280 | €3,280 | = |
| Contracts in progress37 | €9,264 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €58,015 | €68,677 | €119,026 | €208,267 | €293,828 | ▲ 41.1% |
| Trade receivables40 | €53,897 | €54,298 | €114,655 | €207,767 | €226,647 | ▲ 9.1% |
| Other amounts receivable41 | €4,118 | €14,378 | €4,372 | €500 | €67,182 | ▲ 134× |
| Cash at bank and in hand54/58 | €4,017 | €21,429 | - | €3,171 | €2,650 | ▼ 16.4% |
| Deferred charges and accrued income490/1 | €182 | €708 | €189 | €718 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €86,048 | €103,951 | €125,515 | €216,376 | €300,034 | ▲ 38.7% |
| Equity10/15 | €5,599 | €10,384 | €25,948 | €27,699 | €44,980 | ▲ 62.4% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Contributions outside capital11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Other1109/19 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €599 | €5,384 | €20,948 | €22,699 | €39,980 | ▲ 76.1% |
| Amounts payable17/49 | €80,449 | €93,567 | €99,567 | €188,677 | €255,054 | ▲ 35.2% |
| Amounts payable after more than one year17 | €26,000 | €17,000 | €15,000 | €13,000 | €13,000 | = |
| Financial debts170/4 | €26,000 | €17,000 | €15,000 | €13,000 | €13,000 | = |
| Amounts payable within one year42/48 | €54,449 | €76,567 | €84,567 | €175,677 | €242,054 | ▲ 37.8% |
| Financial debts43 | - | - | €13,395 | €24,877 | €27,054 | ▲ 8.8% |
| Credit institutions430/8 | - | - | €13,395 | €24,877 | €27,054 | ▲ 8.8% |
| Trade debts44 | €8,802 | €54,832 | €34,138 | €119,036 | €137,446 | ▲ 15.5% |
| Suppliers440/4 | €8,802 | €54,832 | €34,138 | €119,036 | €137,446 | ▲ 15.5% |
| Taxes, remuneration and social security45 | €23,255 | €21,735 | €32,096 | €30,665 | €77,554 | ▲ 153% |
| Taxes450/3 | €3,967 | €4,328 | €10,950 | €668 | €11,859 | ▲ 18× |
| Remuneration and social security454/9 | €19,288 | €17,407 | €21,146 | €29,996 | €65,694 | ▲ 119% |
| Other amounts payable47/48 | €22,392 | - | €4,939 | €1,100 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €599 | €4,786 | €15,563 | €1,751 | €17,281 | ▲ 887% |
| + Depreciation and write-downs630 | €3,927 | €4,837 | €5,422 | €1,538 | €664 | ▼ 56.8% |
| Operating cash flow (approximation) | €4,526 | €9,623 | €20,985 | €3,289 | €17,945 | ▲ 446% |
| Investment in fixed assets (approximation) | - | -€3,197 | €0 | -€398 | €0 | - |
| Change in cash | - | €17,412 | - | - | -€521 | - |
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, 6,713 companies had the same profile as JBE Technics has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.2%
stopped otherwise
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of JBE Technics itself is higher: ≥ 25% within 12 months. It rests on far more data about JBE Technics than the profile alone.
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 6,713 companies, not a prediction for JBE Technics. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 12-10-2026 | 2026-00553813 | |
| 31-12-2024 | abbreviated format | 19-09-2025 | 2025-00496601 | |
| 31-12-2023 | micro format | 03-08-2024 | 2024-00330539 | |
| 31-12-2022 | micro format | 28-08-2023 | 2023-00383188 | |
| 31-12-2021 | micro format | 27-09-2022 | 2022-20438871 |