JOLAN
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 08-10-2025 PDF all 5 filings
Turnover
≈ €8.3m
Estimated: probably between €5.1m and €10.0m
Total assets
€2.6m▼ 0.2%
2024 · €2.6m
Net result
€260,132▲ 193%
2024 · €88,694
Working capital
€1.1m▲ 88.8%
2024 · €584,635
In the rankings
#6 employer in Landen, Wholesale and retail trade sector#7 company by total assets in Landen, Wholesale and retail trade sector#9 company by equity in Landen, Wholesale and retail trade sector
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€409,373
▲ 122%
2025
20212025
Net result
€260,132
▲ 193%
2025
highest quarter of the sector
20212025
Equity
€605,225
▲ 73.1%
2025
highest quarter of the sector
20212025
Total assets
€2.6m
▼ 0.2%
2025
highest quarter of the sector
20212025
Debt
€2.0m
▼ 11.4%
2025
20212025
Working capital
€1.1m
▲ 88.8%
2025
highest quarter of the sector
20212025
Solvency
23.0%
▲ 9.7pp
2025
middle half of the sector
20212025
Current ratio
4.05
▲ 2.02
2025
highest quarter of the sector
20212025
Return on assets (ROA)
9.9%
▲ 6.5pp
2025
middle half of the sector
20212025
Staff (FTE)
9.5
▼ 5.9%
2025
highest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result-€0.4m-€0.04m€0.1m▲ 207%€0.2m▲ 70.3%€0.4m▲ 122%
Net result€0.1mabove the sector's middle half-€0.01mwithin the sector's middle half▼ 89.5%€0.03mwithin the sector's middle half▲ 167%€0.09mwithin the sector's middle half▲ 173%€0.3mabove the sector's middle half▲ 193%
Equity€0.2mwithin the sector's middle half-€0.2mwithin the sector's middle half▲ 5.6%€0.3mwithin the sector's middle half▲ 14.2%€0.3mwithin the sector's middle half▲ 34.0%€0.6mabove the sector's middle half▲ 73.1%
Total assets€3.6mabove the sector's middle half-€2.9mabove the sector's middle half▼ 19.0%€2.9mabove the sector's middle half▼ 1.6%€2.6mabove the sector's middle half▼ 8.9%€2.6mabove the sector's middle half▼ 0.2%
Debt€3.4m-€2.7m▼ 20.5%€2.6m▼ 2.9%€2.3m▼ 13.1%€2.0m▼ 11.4%
Working capital€0.6mabove the sector's middle half-€0.5mwithin the sector's middle half▼ 25.5%€0.5mabove the sector's middle half▲ 10.6%€0.6mabove the sector's middle half▲ 15.0%€1.1mabove the sector's middle half▲ 88.8%
Solvency6.0%below the sector's middle half-7.8%below the sector's middle half▲ 1.8pp9.0%below the sector's middle half▲ 1.2pp13.2%below the sector's middle half▲ 4.2pp23.0%within the sector's middle half▲ 9.7pp
Current ratio2.17within the sector's middle half-2.36within the sector's middle half▲ 0.182.00within the sector's middle half▼ 0.362.03within the sector's middle half▲ 0.034.05above the sector's middle half▲ 2.02
Return on assets (ROA)3.2%within the sector's middle half-0.4%below the sector's middle half▼ 2.8pp1.1%within the sector's middle half▲ 0.7pp3.4%within the sector's middle half▲ 2.2pp9.9%within the sector's middle half▲ 6.5pp
Staff (FTE)3.4within the sector's middle half-9.1above the sector's middle half▲ 168%10above the sector's middle half▲ 9.9%10.1above the sector's middle half▲ 1.0%9.5above the sector's middle half▼ 5.9%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 122% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Turnover and EBIT margin are not published. The abbreviated 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 €2.6m
Fixed assets
€1.2m ▼ 21.5%
Current assets
€1.5m ▲ 27.4%
Equity and liabilities €2.6m
Equity
€605,225 ▲ 73.1%
Debt
€2.0m ▼ 11.4%
Debt's share of the balance-sheet total falls from 86.8% to 77.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€822,186▲
2024 · €586,283
Cash flow
€672,946▲
2024 · €490,349
Quick ratio
2.66▲
2024 · 1.21
Debt to equity
3.35▼
2024 · 6.55
ROE
43.0%▲
2024 · 25.4%
Interest coverage
13.35▲
2024 · 8.86
Debt ≤ 1 year
€361,830▼
2024 · €565,538
Debt > 1 year
€1.6m▼
2024 · €1.7m
Income taxes
€88,974▲
2024 · €32,329
Staff costs
€404,202▼
2024 · €413,936
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 12 | 12 | 11 | 10 |
| full-time | 8 | 5 | 5 | 6 |
| part-time | 4 | 7 | 6 | 4 |
| in full-time equivalents | 10.9 | 10.6 | 9.7 | 9.3 |
| Average over the year, in full-time equivalents | 9.1 | 10 | 10.1 | 9.5 |
| On a permanent contract | 6 | 9 | 10 | 9 |
| Joined | 7 | 1 | 0 | 2 |
| Left | 3 | 1 | 1 | 3 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €562,317 | €1.5m | €1.2m | €892,578 |
| Pledge on the business | €1.7m | €1.7m | €1.7m | €1.7m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €40,319 | €129,977 | €10,330 | €93,395 |
| Depreciation and write-downs of the year | €385,017 | €396,034 | €401,656 | €412,814 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 3 entries · €14,138 awarded · €14,138 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 2 | €1,272 | €14,138 |
| 2022 | 1 | €12,866 | €0 |
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €0.3m | €0.4m | €0.4m | €0.4m | ▼ 2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 2.8% |
| Other operating charges640/8 | - | €0.001m | €0.001m | €0.001m | €0.002m | ▲ 3.2% |
| Gross operating margin9900 | €0.1m | €0.7m | €0.9m | €1.0m | €1.2m | ▲ 22.6% |
| Operating profit (loss)9901 | -€0.4m | €0.04m | €0.1m | €0.2m | €0.4m | ▲ 122% |
| Financial income75/76B | - | €0.05m | €0.001m | €0.003m | €0.001m | ▼ 48.6% |
| Recurring financial income75 | €0.03m | €0.05m | €0.001m | €0.003m | €0.001m | ▼ 48.6% |
| Financial charges65/66B | - | €0.07m | €0.07m | €0.07m | €0.06m | ▼ 6.9% |
| Recurring financial charges65 | €0.09m | €0.07m | €0.07m | €0.07m | €0.06m | ▼ 6.9% |
| Profit (loss) for the period before taxes9903 | €0.1m | €0.01m | €0.04m | €0.1m | €0.3m | ▲ 188% |
| Income taxes67/77 | €0.02m | €0.002m | €0.005m | €0.03m | €0.09m | ▲ 175% |
| Profit (loss) for the period9904 | €0.1m | €0.01m | €0.03m | €0.09m | €0.3m | ▲ 193% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.01m | €0.03m | €0.09m | €0.3m | ▲ 193% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.6m | €2.9m | €2.9m | €2.6m | €2.6m | ▼ 0.2% |
| Fixed assets21/28 | €2.5m | €2.1m | €1.9m | €1.5m | €1.2m | ▼ 21.5% |
| Tangible fixed assets22/27 | €2.5m | €2.1m | €1.9m | €1.5m | €1.2m | ▼ 21.5% |
| Plant, machinery and equipment23 | - | €0.4m | €0.3m | €0.2m | €0.06m | ▼ 58.4% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.04m | ▲ 257% |
| Other tangible fixed assets26 | - | €1.7m | €1.6m | €1.3m | €1.1m | ▼ 19.3% |
| Current assets29/58 | €1.1m | €0.8m | €1.0m | €1.2m | €1.5m | ▲ 27.4% |
| Stocks and contracts in progress3 | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | ▲ 8.0% |
| Stocks30/36 | - | €0.4m | €0.5m | €0.5m | €0.5m | ▲ 8.0% |
| Amounts receivable within one year40/41 | €0.2m | €0.08m | €0.1m | €0.2m | €0.09m | ▼ 62.6% |
| Trade receivables40 | - | €0.07m | €0.1m | €0.2m | €0.09m | ▼ 61.9% |
| Other amounts receivable41 | - | €0.01m | €0.02m | €0.004m | - | - |
| Cash at bank and in hand54/58 | €0.5m | €0.3m | €0.4m | €0.4m | €0.9m | ▲ 94.4% |
| Deferred charges and accrued income490/1 | - | €0.005m | €0.004m | €0.008m | €0.004m | ▼ 49.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.6m | €2.9m | €2.9m | €2.6m | €2.6m | ▼ 0.2% |
| Equity10/15 | €0.2m | €0.2m | €0.3m | €0.3m | €0.6m | ▲ 73.1% |
| Contributions10/11 | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.1m | €0.1m | €0.2m | €0.2m | €0.5m | ▲ 102% |
| Distributable reserves133 | - | €0.1m | €0.2m | €0.2m | €0.5m | ▲ 102% |
| Amounts payable17/49 | €3.4m | €2.7m | €2.6m | €2.3m | €2.0m | ▼ 11.4% |
| Amounts payable after more than one year17 | €2.9m | €2.3m | €2.1m | €1.7m | €1.6m | ▼ 4.4% |
| Financial debts170/4 | - | €1.0m | €0.7m | €0.4m | €0.3m | ▼ 28.3% |
| Trade debts175 | - | €0.7m | €0.8m | €0.7m | €0.8m | ▲ 5.0% |
| Other amounts payable178/9 | - | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Amounts payable within one year42/48 | €0.5m | €0.3m | €0.5m | €0.6m | €0.4m | ▼ 36.0% |
| Current portion of amounts payable after more than one year42 | - | €0.2m | €0.2m | €0.2m | €0.01m | ▼ 93.7% |
| Trade debts44 | €0.1m | €0.09m | €0.09m | €0.2m | €0.1m | ▼ 24.7% |
| Suppliers440/4 | - | €0.09m | €0.09m | €0.2m | €0.1m | ▼ 24.7% |
| Taxes, remuneration and social security45 | - | €0.06m | €0.06m | €0.08m | €0.07m | ▼ 11.7% |
| Taxes450/3 | - | €0.002m | €0.008m | €0.008m | €0.03m | ▲ 203% |
| Remuneration and social security454/9 | - | €0.05m | €0.05m | €0.07m | €0.04m | ▼ 36.9% |
| Other amounts payable47/48 | - | - | €0.2m | €0.2m | €0.2m | ▲ 6.7% |
| Accrued charges and deferred income492/3 | - | €0.08m | €0.06m | €0.01m | €0.03m | ▲ 139% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €116,201 | €12,182 | €32,516 | €88,694 | €260,132 | ▲ 193% |
| + Depreciation and write-downs630 | €391,683 | €385,017 | €396,034 | €401,656 | €412,814 | ▲ 2.8% |
| Operating cash flow (approximation) | €507,884 | €397,199 | €428,550 | €490,349 | €672,946 | ▲ 37.2% |
| Investment in fixed assets (approximation) | - | -€40,319 | -€129,977 | -€10,330 | -€93,395 | ▼ 804% |
| Change in cash | - | -€234,517 | €92,343 | €73,364 | €424,634 | ▲ 479% |
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, 6,713 companies had the same profile as JOLAN has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.2%
stopped otherwise
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of JOLAN itself: 0.9% 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 6,713 companies, not a prediction for JOLAN. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | abbreviated format | 08-10-2025 | 2025-00535559 | |
| 31-03-2024 | abbreviated format | 10-10-2024 | 2024-00502957 | |
| 31-03-2023 | abbreviated format | 25-10-2023 | 2023-00491856 | |
| 31-03-2022 | abbreviated format | 25-11-2022 | 2022-20525193 | |
| 31-03-2021 | abbreviated format | 22-09-2021 | 2021-68300576 |