JEBRI
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 17 filings
Turnover
≈ €120,000
Estimated: probably between €86,000 and €150,000
Total assets
€266,040▲ 16.9%
2024 · €227,676
Net result
€31,947▼ 11.1%
2024 · €35,916
Working capital
€257,685▲ 22.4%
2024 · €210,523
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€43,935
▼ 14.1%
2025
20182025
Net result
€31,947
▼ 11.1%
2025
middle half of the sector
20182025
Equity
€254,312
▲ 14.4%
2025
highest quarter of the sector
20182025
Total assets
€266,040
▲ 16.9%
2025
middle half of the sector
20182025
Debt
€11,728
▲ 121%
2025
20182025
Working capital
€257,685
▲ 22.4%
2025
highest quarter of the sector
20182025
Solvency
95.6%
▼ 2.1pp
2025
highest quarter of the sector
20182025
Current ratio
34.53
▼ 6.11
2025
highest quarter of the sector
20182025
Return on assets (ROA)
12.0%
▼ 3.8pp
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€23,665-€42,493▲ 79.6%€36,933▼ 13.1%€40,581▲ 9.9%€8,804▼ 78.3%-€5,954€51,170€43,935▼ 14.1%
Net result€16,274-€29,156▲ 79.2%€27,009within the sector's middle half▼ 7.4%€28,292within the sector's middle half▲ 4.8%€6,463within the sector's middle half▼ 77.2%-€5,477below the sector's middle half€35,916within the sector's middle half€31,947within the sector's middle half▼ 11.1%
Equity€147,706-€176,862▲ 19.7%€173,871within the sector's middle half▼ 1.7%€202,164within the sector's middle half▲ 16.3%€208,627within the sector's middle half▲ 3.2%€203,149within the sector's middle half▼ 2.6%€222,366within the sector's middle half▲ 9.5%€254,312above the sector's middle half▲ 14.4%
Total assets€151,846-€178,076▲ 17.3%€177,061within the sector's middle half▼ 0.6%€206,897within the sector's middle half▲ 16.9%€211,961within the sector's middle half▲ 2.4%€206,209within the sector's middle half▼ 2.7%€227,676within the sector's middle half▲ 10.4%€266,040within the sector's middle half▲ 16.9%
Debt€4,140-€1,214▼ 70.7%€3,190▲ 163%€4,733▲ 48.4%€3,334▼ 29.6%€3,059▼ 8.2%€5,311▲ 73.6%€11,728▲ 121%
Working capital€147,467-€177,307▲ 20.2%€174,139above the sector's middle half▼ 1.8%€158,339above the sector's middle half▼ 9.1%€175,758above the sector's middle half▲ 11.0%€180,125above the sector's middle half▲ 2.5%€210,523above the sector's middle half▲ 16.9%€257,685above the sector's middle half▲ 22.4%
Solvency97.3%-99.3%▲ 2.0pp98.2%above the sector's middle half▼ 1.1pp97.7%above the sector's middle half▼ 0.5pp98.4%above the sector's middle half▲ 0.7pp98.5%above the sector's middle half▲ 0.1pp97.7%above the sector's middle half▼ 0.8pp95.6%above the sector's middle half▼ 2.1pp
Current ratio39.78-60.59above the sector's middle half34.45above the sector's middle half▼ 26.1453.72above the sector's middle half▲ 19.2659.88above the sector's middle half▲ 6.1640.64above the sector's middle half▼ 19.2434.53above the sector's middle half▼ 6.11
Return on assets (ROA)10.7%-16.4%▲ 5.7pp15.3%within the sector's middle half▼ 1.1pp13.7%within the sector's middle half▼ 1.6pp3.0%within the sector's middle half▼ 10.6pp-2.7%below the sector's middle half▼ 5.7pp15.8%within the sector's middle half▲ 18.4pp12.0%within the sector's middle half▼ 3.8pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 14% 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 €266,040
Fixed assets
€671 ▼ 94.3%
Current assets
€265,369 ▲ 23.0%
Equity and liabilities €266,040
Equity
€254,312 ▲ 14.4%
Debt
€11,728 ▲ 121%
Debt's share of the balance-sheet total rises from 2.3% to 4.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€55,117▼
2024 · €62,352
Cash flow
€43,129▼
2024 · €47,098
Debt to equity
0.05▲
2024 · 0.02
ROE
12.6%▼
2024 · 16.2%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€7,684▲
2024 · €5,311
Income taxes
€13,747▼
2024 · €15,368
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 | €54,781 | - | €1,127 | - | - |
| Depreciation and write-downs of the year | €10,956 | €10,956 | €10,974 | €11,182 | €11,182 |
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 | - | - | - | €2,262 | - | - | - | €11 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,761 | €342 | €235 | €10,956 | €10,956 | €10,974 | €11,182 | €11,182 | = |
| Other operating charges640/8 | - | - | - | €1,194 | €838 | €1,237 | €1,039 | €894 | ▼ 14.0% |
| Gross operating margin9900 | €32,292 | €43,709 | €38,122 | €52,731 | €20,598 | €6,257 | €63,391 | €56,010 | ▼ 11.6% |
| Operating profit (loss)9901 | €23,665 | €42,493 | €36,933 | €40,581 | €8,804 | -€5,954 | €51,170 | €43,935 | ▼ 14.1% |
| Financial income75/76B | - | - | - | €6 | €38 | €530 | €184 | €1,825 | ▲ 894% |
| Recurring financial income75 | €127 | €132 | €94 | €6 | €38 | €530 | €184 | €1,825 | ▲ 894% |
| Financial charges65/66B | - | - | - | €69 | €66 | €54 | €69 | €66 | ▼ 4.3% |
| Recurring financial charges65 | €52 | €48 | €48 | €69 | €66 | €54 | €69 | €66 | ▼ 4.3% |
| Profit (loss) for the period before taxes9903 | €23,741 | €42,576 | €36,979 | €40,517 | €8,776 | -€5,477 | €51,284 | €45,694 | ▼ 10.9% |
| Income taxes67/77 | €7,466 | €13,420 | €9,970 | €12,225 | €2,313 | - | €15,368 | €13,747 | ▼ 10.6% |
| Profit (loss) for the period9904 | €16,274 | €29,156 | €27,009 | €28,292 | €6,463 | -€5,477 | €35,916 | €31,947 | ▼ 11.1% |
| Profit (loss) for the period to be appropriated9905 | €16,274 | €29,156 | €27,009 | €28,292 | €6,463 | -€5,477 | €35,916 | €31,947 | ▼ 11.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €151,846 | €178,076 | €177,061 | €206,897 | €211,961 | €206,209 | €227,676 | €266,040 | ▲ 16.9% |
| Fixed assets21/28 | €576 | €235 | - | €43,824 | €32,868 | €23,024 | €11,842 | €671 | ▼ 94.3% |
| Tangible fixed assets22/27 | €576 | €235 | - | €43,824 | €32,868 | €23,024 | €11,842 | €671 | ▼ 94.3% |
| Furniture and vehicles24 | - | - | - | €43,824 | €32,868 | €23,024 | €11,842 | €671 | ▼ 94.3% |
| Current assets29/58 | €151,270 | €177,841 | €177,061 | €163,072 | €179,092 | €183,184 | €215,834 | €265,369 | ▲ 23.0% |
| Amounts receivable within one year40/41 | €7,530 | €13,995 | €15,325 | €12,059 | €12,812 | €14,829 | €5,360 | €10,612 | ▲ 98.0% |
| Trade receivables40 | - | - | - | €12,059 | €10,526 | €9,543 | €2,360 | €9,262 | ▲ 293% |
| Other amounts receivable41 | - | - | - | - | €2,286 | €5,286 | €3,000 | €1,350 | ▼ 55.0% |
| Cash at bank and in hand54/58 | €143,739 | €162,662 | €161,214 | €150,478 | €164,720 | €167,475 | €209,759 | €253,861 | ▲ 21.0% |
| Deferred charges and accrued income490/1 | - | - | - | €535 | €1,561 | €881 | €716 | €897 | ▲ 25.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €151,846 | €178,076 | €177,061 | €206,897 | €211,961 | €206,209 | €227,676 | €266,040 | ▲ 16.9% |
| Equity10/15 | €147,706 | €176,862 | €173,871 | €202,164 | €208,627 | €203,149 | €222,366 | €254,312 | ▲ 14.4% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €72,110 | €170,662 | €167,662 | €195,662 | €202,062 | €196,585 | €215,885 | €247,825 | ▲ 14.8% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €193,802 | €200,202 | €196,585 | €215,885 | €247,825 | ▲ 14.8% |
| Profit (loss) carried forward14 | €69,396 | - | €9 | €302 | €365 | €365 | €281 | €288 | ▲ 2.5% |
| Amounts payable17/49 | €4,140 | €1,214 | €3,190 | €4,733 | €3,334 | €3,059 | €5,311 | €11,728 | ▲ 121% |
| Amounts payable within one year42/48 | €3,803 | €534 | €2,922 | €4,733 | €3,334 | €3,059 | €5,311 | €7,684 | ▲ 44.7% |
| Trade debts44 | €233 | €332 | €222 | €318 | €903 | €935 | €385 | €2,789 | ▲ 624% |
| Suppliers440/4 | - | - | - | €318 | €903 | €935 | €385 | €2,789 | ▲ 624% |
| Taxes, remuneration and social security45 | - | - | - | €4,415 | €2,431 | €2,124 | €4,926 | €4,895 | ▼ 0.6% |
| Taxes450/3 | - | - | - | €4,415 | €2,431 | €2,124 | €4,926 | €4,895 | ▼ 0.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €4,043 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,274 | €29,156 | €27,009 | €28,292 | €6,463 | -€5,477 | €35,916 | €31,947 | ▼ 11.1% |
| + Depreciation and write-downs630 | €7,761 | €342 | €235 | €10,956 | €10,956 | €10,974 | €11,182 | €11,182 | = |
| Operating cash flow (approximation) | €24,036 | €29,497 | €27,244 | €39,249 | €17,419 | €5,497 | €47,098 | €43,129 | ▼ 8.4% |
| Investment in fixed assets (approximation) | - | €0 | - | - | €0 | -€1,130 | €0 | -€11 | - |
| Change in cash | - | €18,923 | -€1,449 | -€10,736 | €14,242 | €2,755 | €42,284 | €44,102 | ▲ 4.3% |
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, 34,693 companies had the same profile as JEBRI has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of JEBRI itself: < 0.1% 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 34,693 companies, not a prediction for JEBRI. 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 | micro format | 29-07-2026 | 2026-00349805 | |
| 31-12-2024 | micro format | 23-07-2025 | 2025-00305764 | |
| 31-12-2023 | micro format | 26-07-2024 | 2024-00299805 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00170317 | |
| 31-12-2021 | micro format | 07-07-2022 | 2022-20156597 | |
| 31-12-2020 | micro format | 08-06-2021 | 2021-18300301 | |
| 31-12-2019 | micro format | 25-06-2020 | 2020-21700118 | |
| 31-12-2018 | micro format | 02-07-2019 | 2019-27600347 | |
| 31-12-2017 | micro format | 28-06-2018 | 2018-25800100 | |
| 31-12-2016 | micro format | 12-07-2017 | 2017-30600564 |