JORE
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 31-03-2026 PDF all 37 filings
Turnover
≈ €2.8m
Estimated: probably between €1.9m and €4.2m
Total assets
€1.5m▲ 21.5%
2024 · €1.3m
Net result
€206,895
2024 · -€48,162
Working capital
€3,633
2024 · -€14,134
In the rankings
#10 oldest company in Riemst, Wholesale and retail trade sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€204,458
2025
20182025
Net result
€206,895
2025
highest quarter of the sector
20182025
Equity
€274,455
▲ 306%
2025
middle half of the sector
20182025
Total assets
€1.5m
▲ 21.5%
2025
highest quarter of the sector
20182025
Debt
€1.3m
▲ 5.5%
2025
20182025
Working capital
€3,633
2025
middle half of the sector
20182025
Solvency
17.8%
▲ 12.5pp
2025
middle half of the sector
20182025
Current ratio
1.00
▲ 0.02
2025
middle half of the sector
20182025
Return on assets (ROA)
13.4%
▲ 17.2pp
2025
highest quarter of the sector
20182025
Staff (FTE)
5.7
▲ 5.6%
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€0.7m-€0.5m▼ 20.3%€0.5m▲ 0.5%€0.7m▲ 34.9%€0.6m▼ 10.2%€0.1m▼ 80.4%-€0.09m€0.2m
Net result€0.7m-€0.6m▼ 17.8%€0.6mabove the sector's middle half▼ 0.1%€0.8mabove the sector's middle half▲ 27.3%€0.7mabove the sector's middle half▼ 6.8%€0.2mabove the sector's middle half▼ 77.2%-€0.05mbelow the sector's middle half€0.2mabove the sector's middle half
Equity€0.4m-€0.4m▲ 0.1%€0.4mwithin the sector's middle half▲ 0.1%€0.4mwithin the sector's middle half=€0.4mwithin the sector's middle half▲ 3.3%€0.1mwithin the sector's middle half▼ 72.1%€0.07mbelow the sector's middle half▼ 41.6%€0.3mwithin the sector's middle half▲ 306%
Total assets€2.0m-€1.9m▼ 4.8%€1.2mwithin the sector's middle half▼ 35.8%€1.5mwithin the sector's middle half▲ 22.0%€1.8mabove the sector's middle half▲ 19.3%€1.2mwithin the sector's middle half▼ 30.2%€1.3mwithin the sector's middle half▲ 2.5%€1.5mabove the sector's middle half▲ 21.5%
Debt€1.6m-€1.5m▼ 6.0%€0.8m▼ 45.4%€1.1m▲ 32.7%€1.4m▲ 25.2%€1.1m▼ 17.5%€1.2m▲ 7.0%€1.3m▲ 5.5%
Working capital€0.2m-€0.2m▲ 36.7%€0.3mwithin the sector's middle half▲ 21.3%€0.3mwithin the sector's middle half▲ 11.1%€0.3mwithin the sector's middle half▼ 3.2%-€0.03mbelow the sector's middle half-€0.01mbelow the sector's middle half▲ 50.4%€0.004mwithin the sector's middle half
Solvency20.1%-21.1%▲ 1.0pp32.9%within the sector's middle half▲ 11.8pp27.0%within the sector's middle half▼ 5.9pp23.4%within the sector's middle half▼ 3.6pp9.3%below the sector's middle half▼ 14.0pp5.3%below the sector's middle half▼ 4.0pp17.8%within the sector's middle half▲ 12.5pp
Current ratio1.11-1.16▲ 0.051.36within the sector's middle half▲ 0.201.30within the sector's middle half▼ 0.061.24within the sector's middle half▼ 0.070.97below the sector's middle half▼ 0.260.99below the sector's middle half▲ 0.011.00within the sector's middle half▲ 0.02
Return on assets (ROA)36.3%-31.3%▼ 5.0pp48.7%above the sector's middle half▲ 17.4pp50.9%above the sector's middle half▲ 2.1pp39.7%above the sector's middle half▼ 11.1pp13.0%above the sector's middle half▼ 26.7pp-3.8%below the sector's middle half▼ 16.8pp13.4%above the sector's middle half▲ 17.2pp
Staff (FTE)6.6-6.8▲ 3.0%7.2within the sector's middle half▲ 5.9%7.4within the sector's middle half▲ 2.8%6.2within the sector's middle half▼ 16.2%5.3within the sector's middle half▼ 14.5%5.4within the sector's middle half▲ 1.9%5.7within the sector's middle half▲ 5.6%
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 a profit of €204,458, after a loss of €90,796 in 2024.
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 €1.5m
Fixed assets
€276,044 ▲ 116%
Current assets
€1.3m ▲ 10.9%
Equity and liabilities €1.5m
Equity
€274,455 ▲ 306%
Debt
€1.3m ▲ 5.5%
Debt's share of the balance-sheet total falls from 94.7% to 82.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€229,369▲
2024 · -€70,182
Cash flow
€231,806▲
2024 · -€27,548
Quick ratio
0.28▲
2024 · 0.20
Debt to equity
4.63▼
2024 · 17.81
ROE
75.4%▲
2024 · -71.3%
Interest coverage
34.66▲
2024 · -13.92
Debt ≤ 1 year
€1.3m▲
2024 · €1.2m
Income taxes
€36,721▲
2024 · €573
Staff costs
€276,160▲
2024 · €235,729
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 | 8 | 7 | 6 | 7 | 7 |
| full-time | 6 | 5 | 4 | 6 | 6 |
| part-time | 2 | 2 | 2 | 1 | 1 |
| in full-time equivalents | 7.2 | 5.6 | 4.6 | 6.3 | 6.3 |
| Average over the year, in full-time equivalents | 7.4 | 6.2 | 5.3 | 5.4 | 5.7 |
| On a permanent contract | 6 | 5 | 5 | 5 | 5 |
| Joined | 6 | 3 | 1 | 3 | 4 |
| Left | 6 | 4 | 2 | 2 | 4 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €40,450 | €78,183 | €35,450 | €4,200 | €173,124 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €63,233 | €33,150 | €20,907 | €20,614 | €24,911 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2024 · 5 entries · €11,718 awarded · €11,718 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €750 | €750 |
| 2023 | 1 | -€8,000 | €0 |
| 2022 | 3 | €18,968 | €10,968 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.003m | €0.006m | - | €0 | €0.006m | - |
| Remuneration, social security and pensions62 | - | - | - | €0.3m | €0.3m | €0.3m | €0.2m | €0.3m | ▲ 17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.07m | €0.06m | €0.06m | €0.06m | €0.03m | €0.02m | €0.02m | €0.02m | ▲ 20.8% |
| Other operating charges640/8 | - | - | - | €0.03m | €0.03m | €0.02m | €0.03m | €0.03m | = |
| Non-recurring operating charges66A | - | - | - | - | - | - | €248 | €0.001m | ▲ 191% |
| Gross operating margin9900 | €1.0m | €0.8m | €0.8m | €1.1m | €1.0m | €0.4m | €0.2m | €0.5m | ▲ 175% |
| Operating profit (loss)9901 | €0.7m | €0.5m | €0.5m | €0.7m | €0.6m | €0.1m | -€0.09m | €0.2m | - |
| Financial income75/76B | - | - | - | €0.08m | €0.07m | €0.06m | €0.05m | €0.05m | ▼ 5.1% |
| Recurring financial income75 | €0.07m | €0.08m | €0.07m | €0.08m | €0.07m | €0.06m | €0.05m | €0.05m | ▼ 5.1% |
| Non-recurring financial income76B | - | - | - | - | - | €242 | - | - | - |
| Financial charges65/66B | - | - | - | €0.03m | €0.003m | €0.02m | €0.005m | €0.007m | ▲ 31.2% |
| Recurring financial charges65 | €0.001m | €0.001m | €0.003m | €0.001m | €0.003m | €0.005m | €0.005m | €0.007m | ▲ 31.2% |
| Non-recurring financial charges66B | - | - | - | €0.03m | - | €0.01m | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.7m | €0.6m | €0.6m | €0.8m | €0.7m | €0.2m | -€0.05m | €0.2m | - |
| Income taxes67/77 | €0.001m | €0.002m | €52 | €0.001m | €0.001m | €0.003m | €0.001m | €0.04m | ▲ 64× |
| Profit (loss) for the period9904 | €0.7m | €0.6m | €0.6m | €0.8m | €0.7m | €0.2m | -€0.05m | €0.2m | - |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | €0.3m | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.7m | €0.6m | €0.6m | €0.8m | €0.7m | €0.5m | -€0.05m | €0.2m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.0m | €1.9m | €1.2m | €1.5m | €1.8m | €1.2m | €1.3m | €1.5m | ▲ 21.5% |
| Fixed assets21/28 | €0.2m | €0.2m | €0.1m | €0.08m | €0.1m | €0.1m | €0.1m | €0.3m | ▲ 116% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.1m | €0.08m | €0.1m | €0.1m | €0.1m | €0.3m | ▲ 116% |
| Land and buildings22 | - | - | - | €0.04m | €0.02m | €0.05m | €0.05m | €0.04m | ▼ 12.3% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.07m | €0.06m | €0.05m | €0.2m | ▲ 230% |
| Furniture and vehicles24 | - | - | - | €0.04m | €0.03m | €0.03m | €0.03m | €0.05m | ▲ 109% |
| Financial fixed assets28 | €350 | €215 | €215 | €215 | €215 | €215 | €215 | €215 | = |
| Current assets29/58 | €1.8m | €1.7m | €1.1m | €1.4m | €1.6m | €1.1m | €1.1m | €1.3m | ▲ 10.9% |
| Stocks and contracts in progress3 | €0.7m | €0.8m | €0.8m | €0.8m | €0.9m | €0.9m | €0.9m | €0.9m | ▲ 0.3% |
| Stocks30/36 | - | - | - | €0.8m | €0.9m | €0.9m | €0.9m | €0.9m | ▲ 0.3% |
| Amounts receivable within one year40/41 | €0.04m | €0.07m | €0.07m | €0.08m | €0.07m | €0.06m | €0.2m | €0.1m | ▼ 38.1% |
| Trade receivables40 | - | - | - | €0.04m | €0.02m | €0.01m | €0.1m | €0.05m | ▼ 67.9% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.05m | €0.04m | €0.03m | €0.06m | ▲ 87.7% |
| Cash at bank and in hand54/58 | €1.0m | €0.9m | €0.2m | €0.4m | €0.6m | €0.1m | €0.06m | €0.2m | ▲ 322% |
| Deferred charges and accrued income490/1 | - | - | - | €0.06m | €0.04m | - | €0.001m | €0.007m | ▲ 543% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.0m | €1.9m | €1.2m | €1.5m | €1.8m | €1.2m | €1.3m | €1.5m | ▲ 21.5% |
| Equity10/15 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.1m | €0.07m | €0.3m | ▲ 306% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.05m | €0.05m | €0.2m | ▲ 295% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.03m | €0.03m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves not available under the articles1311 | - | - | - | - | - | - | €0 | - | - |
| Other1319 | - | - | - | - | - | - | €0.001m | €0.001m | = |
| Tax-exempt reserves132 | - | - | - | €0.001m | €0.001m | €0.001m | - | - | - |
| Distributable reserves133 | - | - | - | €0.3m | €0.3m | €0.03m | €0.03m | €0.2m | ▲ 568% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | -€0.05m | €0 | - |
| Amounts payable17/49 | €1.6m | €1.5m | €0.8m | €1.1m | €1.4m | €1.1m | €1.2m | €1.3m | ▲ 5.5% |
| Amounts payable within one year42/48 | €1.6m | €1.5m | €0.8m | €1.1m | €1.3m | €1.1m | €1.2m | €1.3m | ▲ 9.2% |
| Trade debts44 | €0.06m | €0.06m | €0.09m | €0.2m | €0.09m | €0.07m | €0.05m | €0.1m | ▲ 92.8% |
| Suppliers440/4 | - | - | - | €0.2m | €0.09m | €0.07m | €0.05m | €0.1m | ▲ 92.8% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €0.03m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 13.8% |
| Taxes450/3 | - | - | - | €0.1m | €0.1m | €0.09m | €0.1m | €0.09m | ▼ 7.4% |
| Remuneration and social security454/9 | - | - | - | €0.03m | €0.03m | €0.02m | €0.04m | €0.03m | ▼ 31.2% |
| Other amounts payable47/48 | - | - | - | €0.8m | €1.1m | €0.9m | €0.9m | €1.1m | ▲ 11.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.03m | - | €0.05m | €0.005m | ▼ 88.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €725,040 | €595,780 | €595,201 | €757,693 | €706,306 | €161,348 | -€48,162 | €206,895 | - |
| + Depreciation and write-downs630 | €72,776 | €64,170 | €60,389 | €63,233 | €33,150 | €20,907 | €20,614 | €24,911 | ▲ 20.8% |
| Operating cash flow (approximation) | €797,815 | €659,950 | €655,590 | €820,926 | €739,455 | €182,255 | -€27,548 | €231,806 | - |
| Investment in fixed assets (approximation) | - | -€2,175 | -€6,276 | -€40,450 | -€78,183 | -€35,450 | -€4,199 | -€173,124 | ▼ 4,023% |
| Change in cash | - | -€106,638 | -€695,339 | €248,915 | €200,187 | -€498,744 | -€73,132 | €183,102 | - |
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, 3,818 companies had the same profile as JORE has now. Two years later, 95.1% were still going and 1.0% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.1%
was still going
3.7%
stopped otherwise
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of JORE itself: 0.3% 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 3,818 companies, not a prediction for JORE. 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 37 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-03-2026 | 2026-00068847 | |
| 31-12-2024 | abbreviated format | 10-06-2025 | 2025-00129800 | |
| 31-12-2023 | abbreviated format | 03-06-2024 | 2024-00106603 | |
| 31-12-2022 | abbreviated format | 10-07-2023 | 2023-00220387 | |
| 31-12-2021 | abbreviated format | 26-07-2022 | 2022-20222623 | |
| 31-12-2020 | abbreviated format | 25-06-2021 | 2021-24700033 | |
| 31-12-2019 | abbreviated format | 18-08-2020 | 2020-42500338 | |
| 31-12-2018 | abbreviated format | 23-07-2019 | 2019-37000465 | |
| 31-12-2017 | abbreviated format | 30-08-2018 | 2018-60400023 | |
| 31-12-2016 | abbreviated format | 27-06-2017 | 2017-23200007 |