JF COURTOIS

Active

Private limited companyfounded 20214 yrs activeVoie de l'Ardenne 19, 4053 Chaudfontaine, BelgiumKBO/BCE: BE 0777.360.770

JF COURTOIS has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €11k and a net result of €58k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 12642 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

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Checked score

Score 2025

68 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100=

Solvency35▼-47

Growth58▼-20

Track record94

Bankruptcy probability, 12 months

0.3% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €500 at 30 days acceptable

Liquidity tight (current ratio 1.1 against 2.32 in 2024; short-term debt: 89.7% and cash: 29.7% of total assets), and 89.7% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 69

Relative position

BE, all sectors

reference

Sector 69

lower

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

10.3%

Return on assets

55.3%

Age of the figures

9 mo

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 12642 sector peers (2025).

NBB · sector comparison

Position among 12642 sector peers

Solvency

better than 14%

← weakest strongest →

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 4 filings

Deviation from the deadline

2025

31 d late

2024

29 d late

2023

26 d early

2022

21 d late

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

17-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€11k▼ 77.6%

2024 · €48k

2022: €14k 2023: €19k 2024: €48k

2022 → 2025

Total assets

€104k▲ 25.2%

2024 · €83k

2022: €27k 2023: €41k 2024: €83k

2022 → 2025

Net result

€58k▲ 98.6%

2024 · €29k

2022: €11k 2023: €5k 2024: €29k

2022 → 2025

Working capital

€9k▼ 80.2%

2024 · €47k

2022: €14k 2023: €20k 2024: €47k

2022 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2022202320242025Trend

Equity€14k-€19k▲ 38.4%€48k▲ 154%€11k▼ 77.6%

Operating result€15k-€9k▼ 38.7%€39k▲ 316%€74k▲ 91.9%

Net result€11k-€5k▼ 50.8%€29k▲ 456%€58k▲ 98.6%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

After the dip in 2023 the operating result has climbed two years in a row; 2025 is 92% above 2024 and is the highest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €104k

98.6%

Fixed assets €1k▲ 49.5%

Current assets €103k▲ 24.9%

Equity and liabilities €104k

10%

89.7%

Equity €11k▼ 77.6%

Debt €94k▲ 164%

The debt ratio rises from 42.6% to 89.7%. Equity is lower and debt is higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€75k▲

2024 · €39k

Cash flow

€58k▲

2024 · €29k

Solvency

10.3%▼

2024 · 57.4%

Current ratio

1.10▼

2024 · 2.32

Quick ratio

1.10▼

2024 · 2.32

Debt / equity

8.71▲

2024 · 0.74

ROE

536.8%▲

2024 · 60.7%

ROA

55.3%▲

2024 · 34.8%

Interest coverage

50.16▲

2024 · 36.78

Debt

€94k▲

2024 · €35k

Debt ≤ 1 year

€94k▲

2024 · €35k

Income taxes

€17k▲

2024 · €9k

Staff costs

€34k▲

2024 · €31k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€83k€104k▲

Fixed assets21/28€987€1k▲

Tangible fixed assets22/27€782€1k▲

Furniture and vehicles24€782€1k▲

Financial fixed assets28€205€205=

Current assets29/58€82k€103k▲

Amounts receivable within one year40/41€31k€69k▲

Trade receivables40€27k€69k▲

Other amounts receivable41€4k€81▼

Cash at bank and in hand54/58€48k€31k▼

Deferred charges and accrued income490/1€3k€3k▼

Equity and liabilities

Total equity and liabilities10/49€83k€104k▲

Equity10/15€48k€11k▼

Contributions10/11€3k€3k=

Profit (loss) carried forward14€45k€8k▼

Amounts payable17/49€35k€94k▲

Amounts payable within one year42/48€35k€94k▲

Trade debts44€6k€3k▼

Suppliers440/4€403€1k▲

Bills of exchange payable441€5k€2k▼

Taxes, remuneration and social security45€30k€39k▲

Taxes450/3€23k€30k▲

Remuneration and social security454/9€7k€8k▲

Other amounts payable47/48€0€52k▲

Accrued charges and deferred income492/3€0-

Income statement Code20242025

Remuneration, social security and pensions62€31k€34k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€87€392▲

Other operating charges640/8€503€774▲

Gross operating margin9900€70k€109k▲

Operating profit (loss)9901€39k€74k▲

Financial income75/76B€242€2k▲

Recurring financial income75€242€2k▲

Financial charges65/66B€1k€1k▲

Recurring financial charges65€1k€1k▲

Profit (loss) for the period before taxes9903€38k€75k▲

Income taxes67/77€9k€17k▲

Profit (loss) for the period9904€29k€58k▲

Profit (loss) for the period to be appropriated9905€29k€58k▲

Appropriation of the result

Profit (loss) to be appropriated9906€45k€103k▲

Profit (loss) brought forward from the previous period14P€16k€45k▲

Profit to be distributed694/7-€95k

Return on contributions (dividend)694-€95k

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 6Financial 2Filings 4

Next filing, fiscal year 2026, expected by 31-07-2027

2026

31-08

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 31 days late

2025

31-12

Financial Highest result since 2022net €58k ▲98.6%

Operating result €74k, net result €58k, both a record.

29-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 29 days late

2024

05-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Weakest financial yearnet €5k ▼50.8%

Net result drops to €5k, the lowest in the series; recovery starts the following year.

21-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 21 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.

Location & real-estate footprint

Registered office, Chaudfontaine · 1 establishment unit since 2021

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Voie de l'Ardenne 194053 Chaudfontaine

Ground area

649 m²

Building footprint

166 m²

Volume, LiDAR

1,980 m³

2 parcels, Wallonia · tallest building 16.5 m, ±4 floors. Linked by address, not a title deed.

1 establishment unit

JF COURTOIS

Rue Saint-Pierre 17, 4000 LiègeActivities of lawyers

since 20212.324.997.849

2 parcels

Wallonia 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
62063B0639/00A000 ProtectedMonument · Site or landscape	Wallonia	397 m²	1 · 110 m²	16.5 m · 4 fl.
62030A0056/00K011	Wallonia	253 m²	1 · 56 m²	11.6 m · 3 fl.