Summary
JOLY SA has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €16.8m and a net result of €958,028. Equity is growing by ~3.3% per year across the filed fiscal years. Its solvency ranks better than 67% of 300 sector peers (fiscal year 2025). The company has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Holding: general score not applicable
The company has a registered holding activity and financial fixed assets account for more than half of its assets. The general operating-company model is unsuitable for this profile, so we show no financial axes either. Filed figures remain available.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 02-07-2026, 29 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
29 d early
2024
43 d early
2023
44 d early
2022
33 d early
2021
29 d late
2020
6 d late
2019
25 d early
← 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 20 days before the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 41% 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. Usually files around 28 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema, statutory accounts
In the rankings
#1 company by equity in Liège, Construction sector#3 company by total assets in Liège, Construction sector
Turnover
€2.2m▲ 2.8%
2024 · €2.1m
EBIT margin
-7.5%▼ 13.6pp
2024 · 6.2%
Net result
€958,028▼ 29.5%
2024 · €1.4m
Working capital
-€3.3m▼ 5.5%
2024 · -€3.1m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€1.2m▲ 37.4%€2.0m▲ 64.6%€2.2m▲ 10.5%€2.1m▼ 2.9%€2.2m▲ 2.8%
Operating result€220,485▼ 33.1%€2,013▼ 99.1%€155,168▲ 7,610%€131,965▼ 15.0%-€163,708
Net result€2.6mabove the sector's middle half▲ 160%€2.3mabove the sector's middle half▼ 11.4%€1.1mabove the sector's middle half▼ 50.0%€1.4mabove the sector's middle half▲ 18.9%€958,028within the sector's middle half▼ 29.5%
EBIT margin18.2%▼ 19.2pp0.1%▼ 18.1pp7.0%▲ 6.9pp6.2%▼ 0.9pp-7.5%▼ 13.6pp
Equity€16.3mabove the sector's middle half▲ 8.5%€17.4mabove the sector's middle half▲ 6.3%€17.2mabove the sector's middle half▼ 1.0%€17.3mabove the sector's middle half▲ 0.5%€16.8mabove the sector's middle half▼ 2.7%
Total assets€25.1mabove the sector's middle half▼ 1.5%€25.9mabove the sector's middle half▲ 3.1%€25.5mabove the sector's middle half▼ 1.4%€34.7mabove the sector's middle half▲ 36.0%€32.2mabove the sector's middle half▼ 7.2%
Debt€8.8m▼ 15.9%€8.5m▼ 2.8%€8.4m▼ 2.3%€17.4m▲ 109%€15.4m▼ 11.5%
Working capital-€2.0mbelow the sector's middle half▼ 73.5%-€2.1mbelow the sector's middle half▼ 8.0%-€2.8mbelow the sector's middle half▼ 33.5%-€3.1mbelow the sector's middle half▼ 11.3%-€3.3mbelow the sector's middle half▼ 5.5%
Solvency65.0%above the sector's middle half▲ 6.0pp67.0%above the sector's middle half▲ 2.0pp67.3%above the sector's middle half▲ 0.3pp49.8%within the sector's middle half▼ 17.6pp52.1%within the sector's middle half▲ 2.4pp
Current ratio0.65below the sector's middle half▼ 0.140.62below the sector's middle half▼ 0.030.53below the sector's middle half▼ 0.090.80below the sector's middle half▲ 0.270.76below the sector's middle half▼ 0.04
Return on assets (ROA)10.3%above the sector's middle half▲ 6.4pp8.8%within the sector's middle half▼ 1.4pp4.5%within the sector's middle half▼ 4.3pp3.9%within the sector's middle half▼ 0.6pp3.0%within the sector's middle half▼ 0.9pp
Staff (FTE)4.6below the sector's middle half=5.5below the sector's middle half▲ 19.6%5.3below the sector's middle half▼ 3.6%5below the sector's middle half▼ 5.7%5below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €163,708 after €131,965 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €32.2m
Fixed assets
€21.6m ▼ 2.8%
Current assets
€10.7m ▼ 14.9%
Equity and liabilities €32.2m
Equity
€16.8m ▼ 2.7%
Debt
€15.4m ▼ 11.5%
Debt's share of the balance-sheet total falls from 50.2% to 47.9%. Equity and debt are lower.
Key figures and ratios
ROE
5.7%▼
2024 · 7.9%
Debt ≤ 1 year
€14.0m▼
2024 · €15.7m
Debt > 1 year
€1.5m▼
2024 · €1.8m
Income taxes
€1,019▼
2024 · €1,194
Staff costs
€489,324▲
2024 · €472,118
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €2.0m | €2.4m | €2.7m | €2.7m | €2.8m | ▲ 4.3% |
| Turnover70 | €1.2m | €2.0m | €2.2m | €2.1m | €2.2m | ▲ 2.8% |
| Other operating income74 | €436,143 | €408,757 | €475,982 | €536,139 | €592,240 | ▲ 10.5% |
| Non-recurring operating income76A | €377,039 | - | - | - | - | - |
| Operating charges60/66A | €1.8m | €2.4m | €2.5m | €2.5m | €3.0m | ▲ 16.2% |
| Services and other goods61 | €1.2m | €1.8m | €1.8m | €1.8m | €2.2m | ▲ 19.6% |
| Remuneration, social security and pensions62 | €350,965 | €410,928 | €452,460 | €472,118 | €489,324 | ▲ 3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €202,895 | €203,672 | €197,798 | €212,924 | €203,900 | ▼ 4.2% |
| Other operating charges640/8 | €19,498 | €24,179 | €28,666 | €29,795 | €74,224 | ▲ 149% |
| Operating profit (loss)9901 | €220,485 | €2,013 | €155,168 | €131,965 | -€163,708 | ▼ 224% |
| Financial income75/76B | €2.5m | €2.4m | €1.2m | €1.8m | €1.8m | ▲ 0.6% |
| Recurring financial income75 | €2.4m | €2.3m | €1.2m | €1.8m | €1.8m | ▼ 1.5% |
| Income from financial fixed assets750 | €2.3m | €2.3m | €1.2m | €1.5m | €1.6m | ▲ 5.1% |
| Income from current assets751 | €16,072 | €17,844 | €9,939 | €342,317 | €219,230 | ▼ 36.0% |
| Other financial income752/9 | €58 | €49,917 | €8,252 | €8,188 | €28,991 | ▲ 254% |
| Non-recurring financial income76B | €145,500 | €66,805 | - | - | €37,769 | - |
| Financial charges65/66B | €142,288 | €127,773 | €213,553 | €596,694 | €713,800 | ▲ 19.6% |
| Recurring financial charges65 | €142,288 | €127,773 | €213,553 | €596,694 | €425,431 | ▼ 28.7% |
| Debt charges650 | €142,244 | €127,641 | €213,358 | €596,649 | €425,431 | ▼ 28.7% |
| Other financial charges652/9 | €44 | €131 | €195 | €45 | - | - |
| Non-recurring financial charges66B | - | - | - | - | €288,370 | - |
| Profit (loss) for the period before taxes9903 | €2.6m | €2.3m | €1.1m | €1.4m | €959,046 | ▼ 29.5% |
| Income taxes67/77 | €1,337 | €1,620 | €1,522 | €1,194 | €1,019 | ▼ 14.7% |
| Taxes670/3 | €1,337 | €1,620 | €1,522 | €1,194 | €1,019 | ▼ 14.7% |
| Profit (loss) for the period9904 | €2.6m | €2.3m | €1.1m | €1.4m | €958,028 | ▼ 29.5% |
| Profit (loss) for the period to be appropriated9905 | €2.6m | €2.3m | €1.1m | €1.4m | €958,028 | ▼ 29.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €25.1m | €25.9m | €25.5m | €34.7m | €32.2m | ▼ 7.2% |
| Fixed assets21/28 | €21.4m | €22.4m | €22.4m | €22.2m | €21.6m | ▼ 2.8% |
| Intangible fixed assets21 | €12,712 | €7,892 | €3,767 | - | - | - |
| Tangible fixed assets22/27 | €1.8m | €1.6m | €1.5m | €1.4m | €1.2m | ▼ 12.6% |
| Land and buildings22 | €1.6m | €1.5m | €1.4m | €1.3m | €1.2m | ▼ 10.1% |
| Plant, machinery and equipment23 | - | - | - | €3,581 | €2,791 | ▼ 22.1% |
| Furniture and vehicles24 | €129,612 | €94,938 | €65,882 | €34,686 | €6,932 | ▼ 80.0% |
| Leasing and similar rights25 | €3,561 | - | - | €74,137 | €55,816 | ▼ 24.7% |
| Financial fixed assets28 | €19.6m | €20.8m | €20.8m | €20.8m | €20.3m | ▼ 2.1% |
| Affiliated companies280/1 | €19.4m | €20.5m | €20.6m | €20.5m | €20.3m | ▼ 0.9% |
| Participating interests280 | €18.3m | €19.0m | €19.0m | €19.0m | €18.8m | ▼ 1.0% |
| Amounts receivable281 | €1.1m | €1.6m | €1.6m | €1.5m | €1.5m | = |
| Companies linked by participating interests282/3 | €250,000 | €250,000 | €250,000 | €250,000 | - | - |
| Participating interests282 | €250,000 | €250,000 | €250,000 | €250,000 | - | - |
| Other financial fixed assets284/8 | €38,008 | €33,204 | €34,772 | €34,870 | €36,634 | ▲ 5.1% |
| Shares284 | €22,900 | €17,900 | €17,900 | €17,900 | €17,900 | = |
| Amounts receivable and cash guarantees285/8 | €15,107 | €15,303 | €16,871 | €16,969 | €18,733 | ▲ 10.4% |
| Current assets29/58 | €3.7m | €3.5m | €3.2m | €12.5m | €10.7m | ▼ 14.9% |
| Amounts receivable within one year40/41 | €705,577 | €612,629 | €401,064 | €8.4m | €6.4m | ▼ 23.4% |
| Trade receivables40 | €165,113 | €45,363 | €43,791 | €26,809 | €31,949 | ▲ 19.2% |
| Other amounts receivable41 | €540,464 | €567,266 | €357,273 | €8.4m | €6.4m | ▼ 23.6% |
| Current investments50/53 | €2.8m | €2.7m | €2.7m | €2.7m | €2.7m | ▲ 1.4% |
| Own shares50 | €2.8m | €2.7m | €2.7m | €2.7m | €2.7m | ▲ 1.4% |
| Cash at bank and in hand54/58 | €105,806 | €114,665 | €84,967 | €1.4m | €1.5m | ▲ 4.6% |
| Deferred charges and accrued income490/1 | €56,779 | €52,309 | €23,194 | €18,582 | €17,430 | ▼ 6.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €25.1m | €25.9m | €25.5m | €34.7m | €32.2m | ▼ 7.2% |
| Equity10/15 | €16.3m | €17.4m | €17.2m | €17.3m | €16.8m | ▼ 2.7% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Capital10 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Issued capital100 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €5.3m | €5.3m | €5.3m | €5.3m | €5.3m | ▲ 0.7% |
| Non-distributable reserves130/1 | €3.1m | €3.0m | €3.0m | €3.0m | €3.0m | ▲ 1.3% |
| Legal reserve130 | €291,775 | €291,775 | €291,775 | €291,775 | €291,775 | = |
| Own shares acquired1312 | €2.8m | €2.7m | €2.7m | €2.7m | €2.7m | ▲ 1.4% |
| Tax-exempt reserves132 | €7,854 | €7,854 | €7,854 | €7,854 | €7,854 | = |
| Distributable reserves133 | €2.2m | €2.3m | €2.3m | €2.3m | €2.3m | = |
| Profit (loss) carried forward14 | €10.1m | €11.0m | €10.8m | €10.9m | €10.4m | ▼ 4.4% |
| Investment grants15 | - | €83,089 | €74,842 | €102,753 | €73,764 | ▼ 28.2% |
| Amounts payable17/49 | €8.8m | €8.5m | €8.4m | €17.4m | €15.4m | ▼ 11.5% |
| Amounts payable after more than one year17 | €3.2m | €3.0m | €2.3m | €1.8m | €1.5m | ▼ 17.9% |
| Financial debts170/4 | €2.1m | €2.3m | €2.0m | €1.8m | €1.5m | ▼ 17.9% |
| Subordinated loans170 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Leasing and similar obligations172 | - | - | - | €53,956 | €36,868 | ▼ 31.7% |
| Credit institutions173 | €1.1m | €1.2m | €979,445 | €673,868 | €374,400 | ▼ 44.4% |
| Other amounts payable178/9 | €1.0m | €699,945 | €318,978 | - | - | - |
| Amounts payable within one year42/48 | €5.6m | €5.6m | €6.0m | €15.7m | €14.0m | ▼ 10.8% |
| Current portion of amounts payable after more than one year42 | €644,081 | €693,563 | €656,776 | €642,849 | €312,997 | ▼ 51.3% |
| Financial debts43 | €3.5m | €3.3m | €3.2m | €12.2m | €8.8m | ▼ 28.3% |
| Credit institutions430/8 | €2.6m | €2.6m | €2.6m | €12.2m | €8.7m | ▼ 28.4% |
| Other loans439 | €915,198 | €666,437 | €638,424 | €57,751 | €53,168 | ▼ 7.9% |
| Trade debts44 | €131,502 | €148,095 | €111,762 | €171,636 | €199,310 | ▲ 16.1% |
| Suppliers440/4 | €131,502 | €148,095 | €111,762 | €171,636 | €199,310 | ▲ 16.1% |
| Taxes, remuneration and social security45 | €45,185 | €81,483 | €101,567 | €72,443 | €54,245 | ▼ 25.1% |
| Taxes450/3 | €14,024 | €30,564 | €43,199 | €16,680 | €16,327 | ▼ 2.1% |
| Remuneration and social security454/9 | €31,161 | €50,918 | €58,368 | €55,763 | €37,918 | ▼ 32.0% |
| Other amounts payable47/48 | €1.3m | €1.4m | €1.9m | €2.6m | €4.7m | ▲ 80.5% |
| Accrued charges and deferred income492/3 | €1,648 | €2,869 | €6,099 | €4,711 | €6,137 | ▲ 30.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.6m | €2.3m | €1.1m | €1.4m | €958,028 | ▼ 29.5% |
| + Depreciation and write-downs630 | €202,895 | €203,672 | €197,798 | €212,924 | €203,900 | ▼ 4.2% |
| Operating cash flow (approximation) | €2.8m | €2.5m | €1.3m | €1.6m | €1.2m | ▼ 26.1% |
| Investment in fixed assets (approximation) | - | -€1.2m | -€108,068 | -€47,660 | €409,958 | ▲ 960% |
| Change in cash | - | €8,860 | -€29,698 | €1.3m | €65,350 | ▼ 95.1% |
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
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
25-12
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated · 29 days late
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 29 days late
2021
31-12
Financial
Highest result since 2018net €2.6m ▲160%
Net result €2.6m, the highest in the series.
27-09
NBB filing
Annual accounts filed
fiscal year 2020 · consolidated · 6 days late
06-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 6 days late
2020
04-11
NBB filing
Annual accounts filed
fiscal year 2019 · consolidated
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €101,284 ▼95.8%
Net result drops to €101,284, the lowest in the series; recovery starts the following year.
2016
23-11
State Gazette act
General meeting · Statutes amendment
Director resignation · Director discharge
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 19 acts read
About the unread acts
We know of 19 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
19 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, Liège · 1 establishment unit since 1999
Ground area
2.2 ha
Building footprint
603 m²
Volume, LiDAR
4,638 m³
Parcel 62113B0782/00E003, Wallonia · tallest building 8.3 m, ±3 floors. Linked by address, not a title deed.
13
companies at this address
See who is registered here
1 establishment unit
Avenue de l'Indépendance 83, 4020 Liège
since 19992.090.925.367
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62113B0782/00E003 | Wallonia | 2.2 ha | 1 · 603 m² | 8.3 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.
Structure & network
Part of the group
JOLY
12 companies
Group, risk and exposure
Owners and holdings
1 owner · 10 holdings · 10 subsidiaries in the treeChain of control
- JOLY
- JOLY SA
Highest known parent: JOLY. The sources do not say who stands above it.
Owners 1
- JOLYparentSourceaccounts JOLY 202580%
Holdings 10
-
100%
-
100%
-
100%
-
100%
- TRANSPORT GROUPE JOLYsubsidiarySourceown accounts 2025100%
-
99.99%
-
99.99%
-
98%
-
90%
-
50%
All subsidiaries, including indirect ones 10
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- AB Tech 100%
- BALAES 100%
- BLOCQUAY S.A. 100%
- TERRANOVA 100%
- TRANSPORT GROUPE JOLY 100%
- DEUMER SA 99.99%
- LECOMTE SA 99.99%
- CARRIERE D'OTTRE S.A. 98%
Gravaubel 90%1 subsidiary
- GAMA - ASPHALT 100%
According to the 2025 annual accounts of JOLY SA and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
2 connected companiesThe connected companies are in the list below.
This company
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Shareholding
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Société Générale de Cautionnement - Algemene Borgstellingen
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
Recognitions · licences · registrations
Legal Entity Identifier
549300MF86XCTWZV3H59
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Identification & contact
Identification
Legal formPublic limited company
Founded15-12-1998
Fiscal year end31-12
Activities, NACEBEL 2025
42110Construction of roads and motorways
64210Activities of holding companies
42130Civil engineering
42220Construction of utility projects for electricity and telecommunications
42919Civil engineering
E-invoicing
Reachable via Peppol
Peppol ID
0208:0464849536
Registered
13-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.