JOELCO
ActiveSummary
JOELCO has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €495k and a net result of €-3k. Equity remains stable across the filed fiscal years (±0.1% per year). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability55▼-15
Solvency91▲+47
Growth52▼-6
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 7.06 against 0.26 in 2024; short-term debt: 4.7% and cash: 30.7% of total assets), and 34.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €495k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
4 d early
2023
18 d late
2022
19 d early
2021
102 d early
2020
103 d early
2019
103 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · 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 monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-3k
2024 · €6k
2018: €286
2019: €144▼ -49.6% vs 2018
2020: €122▼ -15.4% vs 2019
2021: €55▼ -54.8% vs 2020
2022: €-49k▼ -88932% vs 2021lowest in 8 years
2023: €9k▲ +119% vs 2022highest in 8 years
2024: €6k▼ -37.9% vs 2023
2025: €-3k▼ -146% vs 2024
2018 → 2025
Working capital
€215k
2024 · €-107k
2018: €-150k
2019: €-147k▲ +1.8% vs 2018
2020: €-136k▲ +8.0% vs 2019
2021: €-251k▼ -85.1% vs 2020lowest in 8 years
2022: €-15k▲ +94.2% vs 2021
2023: €-26k▼ -76.6% vs 2022
2024: €-107k▼ -318% vs 2023
2025: €215k▲ +300% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€123k-€74k▼ 39.7%€83k▲ 12.5%€89k▲ 6.9%€495k▲ 455%
2021: €123k
2022: €74k▼ -39.7% vs 2021lowest in 5 years
2023: €83k▲ +12.5% vs 2022
2024: €89k▲ +6.9% vs 2023
2025: €495k▲ +455% vs 2024highest in 5 years
Operating result€316-€-46k€14k€19k▲ 38.2%€-300
2021: €316
2022: €-46k▼ -14648% vs 2021lowest in 5 years
2023: €14k▲ +131% vs 2022
2024: €19k▲ +38.2% vs 2023highest in 5 years
2025: €-300▼ -102% vs 2024
Net result€55-€-49k€9k€6k▼ 37.9%€-3k
2021: €55
2022: €-49k▼ -88932% vs 2021lowest in 5 years
2023: €9k▲ +119% vs 2022highest in 5 years
2024: €6k▼ -37.9% vs 2023
2025: €-3k▼ -146% vs 2024
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €300 after €19k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €751k
Fixed assets
€501k ▲ 16.2%
Current assets
€250k ▲ 579%
Equity and liabilities €751k
Equity
€495k ▲ 455%
Debt
€256k ▼ 32.3%
Debt's share of the balance-sheet total falls from 80.9% to 34.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€15k▼
2024 · €34k
Cash flow
€13k▼
2024 · €20k
Current ratio
7.06▲
2024 · 0.26
Debt to equity
0.52▼
2024 · 4.24
ROE
-0.5%▼
2024 · 6.5%
ROA
-0.4%▼
2024 · 1.2%
Interest coverage
4.36▼
2024 · 8.03
Debt ≤ 1 year
€35k▼
2024 · €144k
Debt > 1 year
€221k▼
2024 · €233k
Income taxes
€0▼
2024 · €9k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€468k€751k▲
Fixed assets21/28€431k€501k▲
Tangible fixed assets22/27€431k€501k▲
Land and buildings22€283k€500k▲
Plant, machinery and equipment23-€1k
Other tangible fixed assets26€148k€0▼
Current assets29/58€37k€250k▲
Amounts receivable within one year40/41€34k€19k▼
Trade receivables40€31k€9k▼
Other amounts receivable41€3k€10k▲
Cash at bank and in hand54/58€2k€230k▲
Deferred charges and accrued income490/1€848€875▲
Equity and liabilities
Total equity and liabilities10/49€468k€751k▲
Equity10/15€89k€495k▲
Contributions10/11€62k€437k▲
Capital10€62k€437k▲
Issued capital100€62k€437k▲
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€21k€18k▼
Investment grants15-€33k
Amounts payable17/49€379k€256k▼
Amounts payable after more than one year17€233k€221k▼
Financial debts170/4€233k€221k▼
Amounts payable within one year42/48€144k€35k▼
Current portion of amounts payable after more than one year42€12k€13k▲
Trade debts44€16k€22k▲
Suppliers440/4€16k€22k▲
Other amounts payable47/48€116k€0▼
Accrued charges and deferred income492/3€2k€322▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€15k▲
Other operating charges640/8€3k€3k▼
Gross operating margin9900€37k€18k▼
Operating profit (loss)9901€19k€-300▼
Financial income75/76B-€1k
Recurring financial income75-€1k
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€15k€-3k▼
Income taxes67/77€9k€0▼
Profit (loss) for the period9904€6k€-3k▼
Profit (loss) for the period to be appropriated9905€6k€-3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€21k€18k▼
Profit (loss) brought forward from the previous period14P€15k€21k▲
Social balance
Average headcount (FTE)9087-0.0
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17k | €45k | €18k | €15k | €15k | ▲ 4.9% |
| Other operating charges640/8 | €3k | €3k | €3k | €3k | €3k | ▼ 4.2% |
| Gross operating margin9900 | €21k | €2k | €35k | €37k | €18k | ▼ 51.6% |
| Operating profit (loss)9901 | €316 | €-46k | €14k | €19k | €-300 | ▼ 102% |
| Financial income75/76B | - | - | - | - | €1k | - |
| Recurring financial income75 | - | - | - | - | €1k | - |
| Financial charges65/66B | €241 | €3k | €5k | €4k | €3k | ▼ 18.5% |
| Recurring financial charges65 | €241 | €3k | €5k | €4k | €3k | ▼ 18.5% |
| Profit (loss) for the period before taxes9903 | €75 | €-49k | €9k | €15k | €-3k | ▼ 117% |
| Income taxes67/77 | €20 | €0 | - | €9k | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €55 | €-49k | €9k | €6k | €-3k | ▼ 146% |
| Profit (loss) for the period to be appropriated9905 | €55 | €-49k | €9k | €6k | €-3k | ▼ 146% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €403k | €388k | €369k | €468k | €751k | ▲ 60.5% |
| Fixed assets21/28 | €399k | €372k | €356k | €431k | €501k | ▲ 16.2% |
| Tangible fixed assets22/27 | €399k | €372k | €356k | €431k | €501k | ▲ 16.2% |
| Land and buildings22 | €234k | €221k | €207k | €283k | €500k | ▲ 76.4% |
| Plant, machinery and equipment23 | - | - | - | - | €1k | - |
| Other tangible fixed assets26 | €166k | €151k | €149k | €148k | €0 | ▼ 100% |
| Current assets29/58 | €3k | €17k | €13k | €37k | €250k | ▲ 579% |
| Amounts receivable within one year40/41 | - | €10k | €11k | €34k | €19k | ▼ 44.2% |
| Trade receivables40 | - | €10k | €11k | €31k | €9k | ▼ 70.5% |
| Other amounts receivable41 | - | - | - | €3k | €10k | ▲ 283% |
| Cash at bank and in hand54/58 | €3k | €6k | €2k | €2k | €230k | ▲ 9,685% |
| Deferred charges and accrued income490/1 | - | €756 | €799 | €848 | €875 | ▲ 3.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €403k | €388k | €369k | €468k | €751k | ▲ 60.5% |
| Equity10/15 | €123k | €74k | €83k | €89k | €495k | ▲ 455% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €437k | ▲ 605% |
| Capital10 | €62k | €62k | €62k | €62k | €437k | ▲ 605% |
| Issued capital100 | €62k | €62k | €62k | €62k | €437k | ▲ 605% |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | = |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Profit (loss) carried forward14 | €55k | €6k | €15k | €21k | €18k | ▼ 12.6% |
| Investment grants15 | - | - | - | - | €33k | - |
| Amounts payable17/49 | €280k | €314k | €286k | €379k | €256k | ▼ 32.3% |
| Amounts payable after more than one year17 | €26k | €283k | €245k | €233k | €221k | ▼ 5.3% |
| Financial debts170/4 | - | €257k | €245k | €233k | €221k | ▼ 5.3% |
| Other amounts payable178/9 | €26k | €26k | €0 | - | - | - |
| Amounts payable within one year42/48 | €254k | €31k | €39k | €144k | €35k | ▼ 75.4% |
| Current portion of amounts payable after more than one year42 | - | - | €12k | €12k | €13k | ▲ 10.0% |
| Financial debts43 | - | €13k | €0 | - | - | - |
| Credit institutions430/8 | - | €13k | €0 | - | - | - |
| Trade debts44 | - | €363 | €2k | €16k | €22k | ▲ 38.3% |
| Suppliers440/4 | - | €363 | €2k | €16k | €22k | ▲ 38.3% |
| Taxes, remuneration and social security45 | €64 | €20 | €0 | - | - | - |
| Taxes450/3 | €64 | €20 | €0 | - | - | - |
| Other amounts payable47/48 | €254k | €18k | €25k | €116k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | €1k | €2k | €322 | ▼ 81.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €55 | €-49k | €9k | €6k | €-3k | ▼ 146% |
| + Depreciation and write-downs630 | €17k | €45k | €18k | €15k | €15k | ▲ 4.9% |
| Operating cash flow (approximation) | €17k | €-4k | €27k | €20k | €13k | ▼ 37.6% |
| Investment in fixed assets (approximation) | - | €-17k | €-2k | €-90k | €-85k | ▲ 5.3% |
| Change in cash | - | €3k | €-4k | €843 | €228k | ▲ 26,944% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Liquidity times 28current ratio 7.06
Current ratio from 0.26 to 7.06; short-term debt falls from €144k to €35k.
31-12
Financial
Equity above €200kEq €495k ▲455%
Equity rises from €89k to €495k.
27-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
18-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 18 days late
2023
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-49k
Net result drops to €-49k, the lowest in the series; recovery starts the following year.
20-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
19-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
19-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
19-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
16-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-04
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
5 acts for this company are 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, Aalst · 1 establishment unit since 2009
Ground area
934 m²
Building footprint
339 m²
Volume, LiDAR
3,386 m³
Parcel 41002A1948/00B000, Flanders · tallest building 17.4 m, ±3 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
JOELCO
since 20092.346.910.545
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41002A1948/00B000 | Flanders | 934 m² | 1 · 339 m² | 17.4 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 4 entries · 43,069 EUR awarded · 37,994 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 1,029 EUR | 35,330 EUR |
| 2024 | 2 | 42,040 EUR | 2,664 EUR |
Schemes
Erfgoedpremie voor beschermde monumenten en landschappen - standaardprocedure
Onderzoekspremie voor beschermde monumenten en landschappen
Retroactieve investeringspremie voor eigenaars van zonnepanelen na afschaffing van terugdraaiende teller
Identification & contact
Identification
Legal formPublic limited company
Founded22-06-1992
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.