Joinop
ActiveSummary
Joinop has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €200,882 and a net result of €34,165. Equity is growing by ~14.1% per year across the filed fiscal years. Its solvency ranks better than 37% of 9294 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+1
Solvency43▼-2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity short (current ratio 0.1 against 0.03 in 2024; short-term debt: 16.7% and cash: 1.6% of total assets), and 82% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
18%
Return on assets
3.1%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 28-05-2026, 64 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
64 d early
2024
8 d early
2023
15 d early
2022
11 d early
2021
25 d late
2020
25 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 2 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€200,882▼ 15.1%
2024 · €236,717
Total assets
€1.1m▼ 3.5%
2024 · €1.2m
Net result
€34,165▲ 5.5%
2024 · €32,388
Working capital
-€166,959▼ 53.4%
2024 · -€108,829
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€50,200▲ 6.4%€55,009▲ 9.6%€58,204▲ 5.8%€60,217▲ 3.5%€62,205▲ 3.3%
Net result€31,095▲ 14.1%€36,741▲ 18.2%€32,646▼ 11.1%€32,388▼ 0.8%€34,165▲ 5.5%
Equity€154,941▲ 25.1%€191,683▲ 23.7%€204,329▲ 6.6%€236,717▲ 15.9%€200,882▼ 15.1%
Total assets€1.3m▼ 3.2%€1.3m▼ 0.2%€1.2m▼ 2.5%€1.2m▼ 5.5%€1.1m▼ 3.5%
Debt€1.1m▼ 6.2%€1.1m▼ 3.6%€1.0m▼ 4.2%€918,072▼ 9.8%€913,128▼ 0.5%
Working capital-€10,266▲ 38.8%-€46,312▼ 351%-€125,708▼ 171%-€108,829▲ 13.4%-€166,959▼ 53.4%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 3% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€1.1m ▼ 4.8%
Current assets
€18,918 ▲ 385%
Equity and liabilities €1.1m
Equity
€200,882 ▼ 15.1%
Debt
€913,128 ▼ 0.5%
Debt's share of the balance-sheet total rises from 79.5% to 82.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€118,003▲
2024 · €115,734
Cash flow
€89,963▲
2024 · €87,905
Current ratio
0.10▲
2024 · 0.03
Debt to equity
4.55▲
2024 · 3.88
ROE
17.0%▲
2024 · 13.7%
ROA
3.1%▲
2024 · 2.8%
Interest coverage
7.09▲
2024 · 6.70
Debt ≤ 1 year
€185,878▲
2024 · €112,729
Debt > 1 year
€716,515▼
2024 · €805,344
Income taxes
€11,388▲
2024 · €10,556
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,365 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.7%
went bankrupt
1.4%
stopped otherwise
97%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,365 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €49,556 | €49,756 | €52,839 | €55,517 | €55,798 | ▲ 0.5% |
| Other operating charges640/8 | €12,110 | €12,379 | €13,560 | €14,075 | €14,512 | ▲ 3.1% |
| Gross operating margin9900 | €111,867 | €117,145 | €124,603 | €129,809 | €132,515 | ▲ 2.1% |
| Operating profit (loss)9901 | €50,200 | €55,009 | €58,204 | €60,217 | €62,205 | ▲ 3.3% |
| Financial charges65/66B | €19,105 | €18,268 | €17,448 | €17,273 | €16,652 | ▼ 3.6% |
| Recurring financial charges65 | €19,105 | €18,268 | €17,448 | €17,273 | €16,652 | ▼ 3.6% |
| Profit (loss) for the period before taxes9903 | €31,095 | €36,741 | €40,756 | €42,944 | €45,553 | ▲ 6.1% |
| Income taxes67/77 | - | - | €8,110 | €10,556 | €11,388 | ▲ 7.9% |
| Profit (loss) for the period9904 | €31,095 | €36,741 | €32,646 | €32,388 | €34,165 | ▲ 5.5% |
| Profit (loss) for the period to be appropriated9905 | €31,095 | €36,741 | €32,646 | €32,388 | €34,165 | ▲ 5.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.3m | €1.2m | €1.2m | €1.1m | ▼ 3.5% |
| Fixed assets21/28 | €1.2m | €1.2m | €1.2m | €1.2m | €1.1m | ▼ 4.8% |
| Tangible fixed assets22/27 | €1.2m | €1.2m | €1.2m | €1.2m | €1.1m | ▼ 4.8% |
| Land and buildings22 | €1.2m | €1.2m | €1.2m | €1.2m | €1.1m | ▼ 4.8% |
| Current assets29/58 | €72,270 | €72,050 | €24,733 | €3,900 | €18,918 | ▲ 385% |
| Amounts receivable within one year40/41 | - | €82 | €1,939 | €1,523 | €112 | ▼ 92.6% |
| Other amounts receivable41 | - | €82 | €1,939 | €1,523 | €112 | ▼ 92.6% |
| Cash at bank and in hand54/58 | €71,840 | €64,490 | €15,245 | €1,833 | €18,228 | ▲ 894% |
| Deferred charges and accrued income490/1 | €430 | €7,478 | €7,549 | €544 | €578 | ▲ 6.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.3m | €1.2m | €1.2m | €1.1m | ▼ 3.5% |
| Equity10/15 | €154,941 | €191,683 | €204,329 | €236,717 | €200,882 | ▼ 15.1% |
| Contributions10/11 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Reserves13 | - | - | - | €30,000 | - | - |
| Distributable reserves133 | - | - | - | €30,000 | - | - |
| Profit (loss) carried forward14 | -€45,059 | -€8,317 | €4,329 | €6,717 | €882 | ▼ 86.9% |
| Amounts payable17/49 | €1.1m | €1.1m | €1.0m | €918,072 | €913,128 | ▼ 0.5% |
| Amounts payable after more than one year17 | €1.0m | €943,719 | €867,368 | €805,344 | €716,515 | ▼ 11.0% |
| Financial debts170/4 | €818,957 | €743,719 | €667,368 | €605,344 | €516,515 | ▼ 14.7% |
| Other amounts payable178/9 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Amounts payable within one year42/48 | €82,536 | €118,362 | €150,441 | €112,729 | €185,878 | ▲ 64.9% |
| Current portion of amounts payable after more than one year42 | €74,141 | €75,238 | €76,352 | €87,275 | €88,828 | ▲ 1.8% |
| Trade debts44 | €395 | €35,124 | €46,089 | €454 | €661 | ▲ 45.7% |
| Suppliers440/4 | €395 | €35,124 | €46,089 | €454 | €661 | ▲ 45.7% |
| Taxes, remuneration and social security45 | - | - | - | - | €1,388 | - |
| Taxes450/3 | - | - | - | - | €1,388 | - |
| Other amounts payable47/48 | €8,000 | €8,000 | €28,000 | €25,000 | €95,000 | ▲ 280% |
| Accrued charges and deferred income492/3 | - | - | - | - | €10,735 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,095 | €36,741 | €32,646 | €32,388 | €34,165 | ▲ 5.5% |
| + Depreciation and write-downs630 | €49,556 | €49,756 | €52,839 | €55,517 | €55,798 | ▲ 0.5% |
| Operating cash flow (approximation) | €80,651 | €86,498 | €85,485 | €87,905 | €89,963 | ▲ 2.3% |
| Investment in fixed assets (approximation) | - | -€47,306 | -€68,529 | -€9,002 | €0 | ▲ 100% |
| Change in cash | - | -€7,350 | -€49,245 | -€13,412 | €16,395 | ▲ 222% |
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
28-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €200,000Eq €204,329 ▲6.6%
4 profitable years in a row build equity to €204,329.
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2019net €36,741 ▲18.2%
Net result €36,741, the highest in the series.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 25 days late
2021
31-12
Financial
Equity above €150,000Eq €154,941 ▲25.1%
2 profitable years in a row build equity to €154,941.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 25 days late
2020
31-12
Financial
Back to profitnet €27,255
Net result €27,255 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €123,846 ▲28.2%
Equity rises from €96,591 to €123,846.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Destelbergen · 1 establishment unit since 2018
Ground area
2,473 m²
Building footprint
874 m²
Volume, LiDAR
7,993 m³
Parcel 44013A0315/00Y003, Flanders · tallest building 14.5 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
JOINOP
since 20182.275.060.764
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44013A0315/00Y003 | Flanders | 2,473 m² | 1 · 874 m² | 14.5 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.
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,770. 4,790 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-03-2018
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0692777859
Registered
12-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.