JEB
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 21 days after the deadline Filed on 21 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00419885.
Annual accounts 2025 filed on 21-08-2026 at the NBB all 6 filings
Amounts without an identifiable currency are taken as euros.
Turnover
≈ €100,000
Estimated: probably between €66,000 and €140,000
Total assets
€61,718▲ 5.7%
2024 · €58,410
Net result
€13,630▼ 57.0%
2024 · €31,727
Working capital
€18,262
2024 · -€7,124
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€24,052
▼ 51.8%
2025
20202025
Net result
€13,630
▼ 57.0%
2025
middle half of the sector
20202025
Equity
€40,358
▲ 51.0%
2025
middle half of the sector
20202025
Total assets
€61,718
▲ 5.7%
2025
middle half of the sector
20202025
Debt
€21,360
▼ 32.6%
2025
20202025
Working capital
€18,262
2025
middle half of the sector
20202025
Solvency
65.4%
▲ 19.6pp
2025
middle half of the sector
20202025
Current ratio
1.85
▲ 1.08
2025
middle half of the sector
20202025
Return on assets (ROA)
22.1%
▼ 32.2pp
2025
middle half of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€161,179-€40,607▼ 74.8%€40,128▼ 1.2%€49,597▲ 23.6%€49,904▲ 0.6%€24,052▼ 51.8%
Net result€120,014above the sector's middle half-€30,532within the sector's middle half▼ 74.6%€29,955within the sector's middle half▼ 1.9%€36,459within the sector's middle half▲ 21.7%€31,727within the sector's middle half▼ 13.0%€13,630within the sector's middle half▼ 57.0%
Equity€130,014within the sector's middle half-€160,545within the sector's middle half▲ 23.5%€190,500above the sector's middle half▲ 18.7%€106,960within the sector's middle half▼ 43.9%€26,728within the sector's middle half▼ 75.0%€40,358within the sector's middle half▲ 51.0%
Total assets€158,878within the sector's middle half-€194,544within the sector's middle half▲ 22.4%€210,387within the sector's middle half▲ 8.1%€116,840within the sector's middle half▼ 44.5%€58,410within the sector's middle half▼ 50.0%€61,718within the sector's middle half▲ 5.7%
Debt€28,864-€33,999▲ 17.8%€19,886▼ 41.5%€9,880▼ 50.3%€31,682▲ 221%€21,360▼ 32.6%
Working capital€114,324above the sector's middle half-€109,477above the sector's middle half▼ 4.2%€150,524above the sector's middle half▲ 37.5%€58,326within the sector's middle half▼ 61.3%-€7,124below the sector's middle half€18,262within the sector's middle half
Solvency81.8%above the sector's middle half-82.5%above the sector's middle half▲ 0.7pp90.5%above the sector's middle half▲ 8.0pp91.5%above the sector's middle half▲ 1.0pp45.8%within the sector's middle half▼ 45.8pp65.4%within the sector's middle half▲ 19.6pp
Current ratio4.96above the sector's middle half-4.22above the sector's middle half▼ 0.748.57above the sector's middle half▲ 4.356.90above the sector's middle half▼ 1.670.78below the sector's middle half▼ 6.131.85within the sector's middle half▲ 1.08
Return on assets (ROA)75.5%above the sector's middle half-15.7%within the sector's middle half▼ 59.8pp14.2%within the sector's middle half▼ 1.5pp31.2%above the sector's middle half▲ 17.0pp54.3%above the sector's middle half▲ 23.1pp22.1%within the sector's middle half▼ 32.2pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). 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 52% lower than in 2024 and the lowest since 2021.
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 €61,718
Fixed assets
€22,096 ▼ 34.7%
Current assets
€39,622 ▲ 61.3%
Equity and liabilities €61,718
Equity
€40,358 ▲ 51.0%
Debt
€21,360 ▼ 32.6%
Debt's share of the balance-sheet total falls from 54.2% to 34.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€41,379▼
2024 · €65,951
Cash flow
€30,957▼
2024 · €47,774
Debt to equity
0.53▼
2024 · 1.19
ROE
33.8%▼
2024 · 118.7%
Interest coverage
24.76▼
2024 · 48.39
Debt ≤ 1 year
€21,360▼
2024 · €31,682
Income taxes
€8,760▼
2024 · €16,814
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 | €51,502 | - | €22,539 | €1,265 | €5,570 |
| Depreciation and write-downs of the year | €4,204 | €11,092 | €13,882 | €16,046 | €17,327 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,108 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,318 | €4,204 | €11,092 | €13,882 | €16,046 | €17,327 | ▲ 8.0% |
| Other operating charges640/8 | - | €470 | €1,084 | €1,011 | €881 | €903 | ▲ 2.5% |
| Gross operating margin9900 | €170,012 | €45,281 | €52,304 | €64,490 | €66,832 | €42,282 | ▼ 36.7% |
| Operating profit (loss)9901 | €161,179 | €40,607 | €40,128 | €49,597 | €49,904 | €24,052 | ▼ 51.8% |
| Financial income75/76B | - | - | €5 | €0 | - | €9 | - |
| Recurring financial income75 | €0 | - | €5 | €0 | - | €9 | - |
| Financial charges65/66B | - | €129 | €145 | €864 | €1,363 | €1,671 | ▲ 22.6% |
| Recurring financial charges65 | €174 | €129 | €145 | €864 | €1,363 | €1,671 | ▲ 22.6% |
| Profit (loss) for the period before taxes9903 | €161,006 | €40,478 | €39,988 | €48,733 | €48,541 | €22,390 | ▼ 53.9% |
| Income taxes67/77 | €40,992 | €9,947 | €10,033 | €12,274 | €16,814 | €8,760 | ▼ 47.9% |
| Profit (loss) for the period9904 | €120,014 | €30,532 | €29,955 | €36,459 | €31,727 | €13,630 | ▼ 57.0% |
| Profit (loss) for the period to be appropriated9905 | €120,014 | €30,532 | €29,955 | €36,459 | €31,727 | €13,630 | ▼ 57.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €158,878 | €194,544 | €210,387 | €116,840 | €58,410 | €61,718 | ▲ 5.7% |
| Formation expenses20 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €15,690 | €51,069 | €39,977 | €48,634 | €33,853 | €22,096 | ▼ 34.7% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €15,690 | €51,069 | €39,977 | €48,634 | €33,853 | €22,096 | ▼ 34.7% |
| Plant, machinery and equipment23 | - | €2,979 | €2,187 | €1,395 | €604 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | €48,090 | €37,790 | €47,238 | €33,249 | €22,096 | ▼ 33.5% |
| Financial fixed assets28 | €0 | - | - | - | - | - | - |
| Current assets29/58 | €143,188 | €143,475 | €170,410 | €68,206 | €24,558 | €39,622 | ▲ 61.3% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €19,873 | €26,643 | €16,141 | €11,062 | €9,134 | €6,961 | ▼ 23.8% |
| Trade receivables40 | - | €26,643 | €16,141 | €9,421 | €7,487 | €6,961 | ▼ 7.0% |
| Other amounts receivable41 | - | - | - | €1,641 | €1,647 | €0 | ▼ 100% |
| Current investments50/53 | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €122,110 | €115,768 | €153,123 | €55,706 | €13,825 | €31,040 | ▲ 125% |
| Deferred charges and accrued income490/1 | - | €1,064 | €1,146 | €1,437 | €1,598 | €1,621 | ▲ 1.4% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €158,878 | €194,544 | €210,387 | €116,840 | €58,410 | €61,718 | ▲ 5.7% |
| Equity10/15 | €130,014 | €160,545 | €190,500 | €106,960 | €26,728 | €40,358 | ▲ 51.0% |
| Contributions10/11 | - | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €120,014 | €150,545 | €180,500 | €96,960 | €16,728 | €30,358 | ▲ 81.5% |
| Distributable reserves133 | - | €150,545 | €180,500 | €96,960 | €16,728 | €30,358 | ▲ 81.5% |
| Profit (loss) carried forward14 | €0 | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €28,864 | €33,999 | €19,886 | €9,880 | €31,682 | €21,360 | ▼ 32.6% |
| Amounts payable within one year42/48 | €28,864 | €33,999 | €19,886 | €9,880 | €31,682 | €21,360 | ▼ 32.6% |
| Trade debts44 | €2,546 | €1,631 | €658 | €1,210 | €1,049 | €1,831 | ▲ 74.5% |
| Suppliers440/4 | - | €1,631 | €658 | €1,210 | €1,049 | €1,831 | ▲ 74.5% |
| Taxes, remuneration and social security45 | - | €24,671 | €13,737 | €7,441 | €9,447 | €5,528 | ▼ 41.5% |
| Taxes450/3 | - | €24,671 | €13,737 | €7,441 | €9,447 | €5,528 | ▼ 41.5% |
| Other amounts payable47/48 | - | €7,697 | €5,491 | €1,228 | €21,185 | €14,001 | ▼ 33.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €120,014 | €30,532 | €29,955 | €36,459 | €31,727 | €13,630 | ▼ 57.0% |
| + Depreciation and write-downs630 | €7,318 | €4,204 | €11,092 | €13,882 | €16,046 | €17,327 | ▲ 8.0% |
| Operating cash flow (approximation) | €127,332 | €34,735 | €41,047 | €50,342 | €47,774 | €30,957 | ▼ 35.2% |
| Investment in fixed assets (approximation) | - | -€39,583 | €0 | -€22,539 | -€1,265 | -€5,570 | ▼ 340% |
| Change in cash | - | -€6,342 | €37,355 | -€97,416 | -€41,881 | €17,215 | - |
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, 26,972 companies had the same profile as JEB has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of JEB itself is lower: 0.1% within 12 months. It rests on far more data about JEB 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 26,972 companies, not a prediction for JEB. 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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 21-08-2026 | 2026-00419885 | |
| 31-12-2024 | micro format | 04-07-2025 | 2025-00239360 | |
| 31-12-2023 | micro format | 29-07-2024 | 2024-00329128 | |
| 31-12-2022 | micro format | 26-07-2023 | 2023-00289046 | |
| 31-12-2021 | micro format | 12-07-2022 | 2022-20182273 | |
| 31-12-2020 | micro format | 13-07-2021 | 2021-35000221 |