JG
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 26-06-2026 at the NBB all 12 filings
Turnover
≈ €540,000
Estimated: probably between €450,000 and €590,000
Total assets
€180,109▲ 6.7%
2024 · €168,827
Net result
€133▼ 99.6%
2024 · €33,934
Working capital
€121,383▲ 5.6%
2024 · €114,920
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€7,675
▼ 79.3%
2025
20182025
Net result
€133
▼ 99.6%
2025
middle half of the sector
20182025
Equity
€143,720
▲ 0.1%
2025
middle half of the sector
20182025
Total assets
€180,109
▲ 6.7%
2025
middle half of the sector
20182025
Debt
€36,389
▲ 44.2%
2025
20182025
Working capital
€121,383
▲ 5.6%
2025
highest quarter of the sector
20182025
Solvency
79.8%
▼ 5.3pp
2025
highest quarter of the sector
20182025
Current ratio
4.34
▼ 1.22
2025
highest quarter of the sector
20182025
Return on assets (ROA)
0.1%
▼ 20.0pp
2025
middle half of the sector
20182025
Staff (FTE)
8
▲ 19.4%
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€14,416-€35,646▲ 147%€17,915▼ 49.7%€11,522▼ 35.7%€6,995▼ 39.3%€26,837▲ 284%€37,061▲ 38.1%€7,675▼ 79.3%
Net result€11,964-€30,677▲ 156%€16,658above the sector's middle half▼ 45.7%€1,888within the sector's middle half▼ 88.7%€5,115within the sector's middle half▲ 171%€23,662above the sector's middle half▲ 363%€33,934above the sector's middle half▲ 43.4%€133within the sector's middle half▼ 99.6%
Equity€31,654-€62,330▲ 96.9%€78,988above the sector's middle half▲ 26.7%€80,877above the sector's middle half▲ 2.4%€85,991above the sector's middle half▲ 6.3%€109,653above the sector's middle half▲ 27.5%€143,588above the sector's middle half▲ 30.9%€143,720within the sector's middle half▲ 0.1%
Total assets€60,063-€80,217▲ 33.6%€95,423within the sector's middle half▲ 19.0%€101,441within the sector's middle half▲ 6.3%€108,224within the sector's middle half▲ 6.7%€134,021within the sector's middle half▲ 23.8%€168,827within the sector's middle half▲ 26.0%€180,109within the sector's middle half▲ 6.7%
Debt€28,410-€17,887▼ 37.0%€16,435▼ 8.1%€20,564▲ 25.1%€22,232▲ 8.1%€24,368▲ 9.6%€25,239▲ 3.6%€36,389▲ 44.2%
Working capital-€3,509-€34,182€61,270above the sector's middle half▲ 79.2%€57,650above the sector's middle half▼ 5.9%€71,113above the sector's middle half▲ 23.4%€87,746above the sector's middle half▲ 23.4%€114,920above the sector's middle half▲ 31.0%€121,383above the sector's middle half▲ 5.6%
Solvency52.7%-77.7%▲ 25.0pp82.8%above the sector's middle half▲ 5.1pp79.7%above the sector's middle half▼ 3.0pp79.5%above the sector's middle half▼ 0.3pp81.8%above the sector's middle half▲ 2.4pp85.1%above the sector's middle half▲ 3.2pp79.8%above the sector's middle half▼ 5.3pp
Current ratio0.88-2.91▲ 2.034.73above the sector's middle half▲ 1.823.80above the sector's middle half▼ 0.924.20above the sector's middle half▲ 0.404.60above the sector's middle half▲ 0.405.55above the sector's middle half▲ 0.954.34above the sector's middle half▼ 1.22
Return on assets (ROA)19.9%-38.2%▲ 18.3pp17.5%above the sector's middle half▼ 20.8pp1.9%within the sector's middle half▼ 15.6pp4.7%within the sector's middle half▲ 2.9pp17.7%above the sector's middle half▲ 12.9pp20.1%above the sector's middle half▲ 2.4pp0.1%within the sector's middle half▼ 20.0pp
Staff (FTE)3.8-3.9▲ 2.6%3.1within the sector's middle half▼ 20.5%6.1▲ 96.8%5.6▼ 8.2%7.6▲ 35.7%6.7▼ 11.8%8within the sector's middle half▲ 19.4%
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). 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 79% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated or 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 €180,109
Fixed assets
€22,338 ▼ 22.1%
Current assets
€157,771 ▲ 12.6%
Equity and liabilities €180,109
Equity
€143,720 ▲ 0.1%
Debt
€36,389 ▲ 44.2%
Debt's share of the balance-sheet total rises from 14.9% to 20.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€19,670▼
2024 · €47,923
Cash flow
€12,127▼
2024 · €44,796
Quick ratio
4.09▼
2024 · 5.29
Debt to equity
0.25▲
2024 · 0.18
ROE
0.1%▼
2024 · 23.6%
Interest coverage
5.97▼
2024 · 16.79
Debt ≤ 1 year
€36,389▲
2024 · €25,239
Income taxes
€5,147▲
2024 · €1,241
Staff costs
€153,981▲
2024 · €150,242
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 | 6 | 7 | 7 | 9 | 9 |
| full-time | - | - | 1 | 1 | 1 |
| part-time | 6 | 7 | 6 | 8 | 8 |
| in full-time equivalents | 3.4 | 3.3 | 4.3 | 4.3 | 5 |
| Average over the year, in full-time equivalents | 3.3 | 3.4 | 3.7 | 3.6 | 4.2 |
| On a permanent contract | 5 | 5 | 5 | 7 | 6 |
| Joined | 3 | 3 | - | 6 | 5 |
| Left | 4 | 2 | - | 3 | 5 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €18,777 | €2,565 | €15,397 | €17,622 | €5,665 |
| Depreciation and write-downs of the year | €13,269 | €10,913 | €8,368 | €10,862 | €11,995 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €111,074 | €124,289 | €138,231 | €150,242 | €153,981 | ▲ 2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,815 | €13,015 | €14,640 | €13,269 | €10,913 | €8,368 | €10,862 | €11,995 | ▲ 10.4% |
| Other operating charges640/8 | - | - | - | €1,305 | €2,330 | €1,524 | €1,773 | €2,605 | ▲ 47.0% |
| Gross operating margin9900 | €140,141 | €168,490 | €99,203 | €137,170 | €144,528 | €174,960 | €199,938 | €176,256 | ▼ 11.8% |
| Operating profit (loss)9901 | €14,416 | €35,646 | €17,915 | €11,522 | €6,995 | €26,837 | €37,061 | €7,675 | ▼ 79.3% |
| Financial income75/76B | - | - | - | €480 | €773 | €367 | €969 | €901 | ▼ 7.0% |
| Recurring financial income75 | €551 | €1,477 | €389 | €480 | €773 | €367 | €969 | €901 | ▼ 7.0% |
| Financial charges65/66B | - | - | - | €2,233 | €2,654 | €2,383 | €2,854 | €3,297 | ▲ 15.5% |
| Recurring financial charges65 | €3,004 | €2,177 | €1,646 | €2,233 | €2,654 | €2,383 | €2,854 | €3,297 | ▲ 15.5% |
| Profit (loss) for the period before taxes9903 | €11,964 | €34,946 | €16,658 | €9,769 | €5,115 | €24,820 | €35,176 | €5,280 | ▼ 85.0% |
| Income taxes67/77 | - | €4,269 | - | €7,881 | - | €1,158 | €1,241 | €5,147 | ▲ 315% |
| Profit (loss) for the period9904 | €11,964 | €30,677 | €16,658 | €1,888 | €5,115 | €23,662 | €33,934 | €133 | ▼ 99.6% |
| Profit (loss) for the period to be appropriated9905 | €11,964 | €30,677 | €16,658 | €1,888 | €5,115 | €23,662 | €33,934 | €133 | ▼ 99.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €60,063 | €80,217 | €95,423 | €101,441 | €108,224 | €134,021 | €168,827 | €180,109 | ▲ 6.7% |
| Fixed assets21/28 | €35,163 | €28,148 | €17,718 | €23,227 | €14,878 | €21,907 | €28,668 | €22,338 | ▼ 22.1% |
| Intangible fixed assets21 | €22,500 | €16,875 | €11,250 | €5,625 | - | - | - | - | - |
| Tangible fixed assets22/27 | €12,663 | €11,273 | €6,468 | €17,602 | €14,878 | €21,907 | €28,668 | €22,338 | ▼ 22.1% |
| Plant, machinery and equipment23 | - | - | - | €17,602 | €14,878 | €21,907 | €15,588 | €12,528 | ▼ 19.6% |
| Furniture and vehicles24 | - | - | - | - | - | - | €13,080 | €9,810 | ▼ 25.0% |
| Current assets29/58 | €24,901 | €52,069 | €77,705 | €78,214 | €93,346 | €112,114 | €140,159 | €157,771 | ▲ 12.6% |
| Stocks and contracts in progress3 | €5,227 | €3,414 | €2,212 | €2,414 | €7,727 | €6,414 | €6,727 | €8,814 | ▲ 31.0% |
| Stocks30/36 | - | - | - | €2,414 | €7,727 | €6,414 | €6,727 | €8,814 | ▲ 31.0% |
| Amounts receivable within one year40/41 | €1,318 | €1,371 | €11,420 | €5,763 | €15,813 | €7,075 | €36,059 | €30,344 | ▼ 15.9% |
| Trade receivables40 | - | - | - | €2,392 | €15,813 | €7,075 | €35,573 | €28,203 | ▼ 20.7% |
| Other amounts receivable41 | - | - | - | €3,371 | - | - | €486 | €2,141 | ▲ 340% |
| Cash at bank and in hand54/58 | €18,355 | €47,284 | €64,073 | €70,037 | €69,805 | €98,625 | €97,373 | €118,614 | ▲ 21.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €60,063 | €80,217 | €95,423 | €101,441 | €108,224 | €134,021 | €168,827 | €180,109 | ▲ 6.7% |
| Equity10/15 | €31,654 | €62,330 | €78,988 | €80,877 | €85,991 | €109,653 | €143,588 | €143,720 | ▲ 0.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Issued capital100 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €13,054 | €43,730 | €60,388 | €62,277 | €67,391 | €91,053 | €124,988 | €125,120 | ▲ 0.1% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €60,417 | €65,531 | €89,193 | €123,128 | €123,260 | ▲ 0.1% |
| Amounts payable17/49 | €28,410 | €17,887 | €16,435 | €20,564 | €22,232 | €24,368 | €25,239 | €36,389 | ▲ 44.2% |
| Amounts payable within one year42/48 | €28,410 | €17,887 | €16,435 | €20,564 | €22,232 | €24,368 | €25,239 | €36,389 | ▲ 44.2% |
| Trade debts44 | €7,184 | €7,569 | €7,097 | €8,752 | €7,385 | €6,747 | €10,961 | €15,406 | ▲ 40.5% |
| Suppliers440/4 | - | - | - | €8,752 | €7,385 | €6,747 | €10,961 | €15,406 | ▲ 40.5% |
| Taxes, remuneration and social security45 | - | - | - | €11,812 | €14,848 | €16,162 | €14,278 | €20,983 | ▲ 47.0% |
| Taxes450/3 | - | - | - | €437 | €2,614 | €2,056 | €632 | €5,458 | ▲ 764% |
| Remuneration and social security454/9 | - | - | - | €11,375 | €12,234 | €14,106 | €13,646 | €15,525 | ▲ 13.8% |
| Other amounts payable47/48 | - | - | - | - | - | €1,459 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,964 | €30,677 | €16,658 | €1,888 | €5,115 | €23,662 | €33,934 | €133 | ▼ 99.6% |
| + Depreciation and write-downs630 | €11,815 | €13,015 | €14,640 | €13,269 | €10,913 | €8,368 | €10,862 | €11,995 | ▲ 10.4% |
| Operating cash flow (approximation) | €23,778 | €43,691 | €31,298 | €15,157 | €16,028 | €32,030 | €44,796 | €12,127 | ▼ 72.9% |
| Investment in fixed assets (approximation) | - | -€6,000 | -€4,210 | -€18,777 | -€2,565 | -€15,397 | -€17,622 | -€5,665 | ▲ 67.9% |
| Change in cash | - | €28,929 | €16,790 | €5,964 | -€232 | €28,819 | -€1,252 | €21,241 | - |
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, 10,904 companies had the same profile as JG has now. Two years later, 95.1% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.1%
was still going
4.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of JG 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 10,904 companies, not a prediction for JG. 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 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 26-06-2026 | 2026-00205143 | |
| 31-12-2024 | micro format | 27-06-2025 | 2025-00201334 | |
| 31-12-2023 | micro format | 30-06-2024 | 2024-00215532 | |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00183774 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20100949 | |
| 31-12-2020 | micro format | 28-06-2021 | 2021-25700244 | |
| 31-12-2019 | micro format | 29-06-2020 | 2020-22000467 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-25400501 | |
| 31-12-2017 | micro format | 28-06-2018 | 2018-25200188 | |
| 31-12-2016 | micro format | 26-06-2017 | 2017-21600239 |