JOSAL
ActiveFrom the official registers: KBO 4 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
The computed 12-month bankruptcy probability of JOSAL is 3.0% (moderate). The 2025 annual accounts show equity of €92,781 and a net result of €108,319. Equity has been growing by about 32% per year since 2022. Its solvency ranks better than 28% of 9,380 sector peers (NACE 41, financial year 2025). The company has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
2025 annual accounts filed 53 days after the deadline Filed on 22 June 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00196584.
Annual accounts 2025
- Financial year ended
- 30-09-2025
- Filed on
- 22-06-2026
- Format
- micro format
- Reference
- 2026-00196584
2022 to 2025, 4 financial years
The operating result for 2025 is 42% higher than in 2024 and the highest since 2022. It is the third rise in a row.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Companies with the same profile, two years later
Historical observationIn July 2024, 6,713 companies had the same profile as JOSAL has now. Two years later, 1.8% had gone bankrupt and 95.8% were still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of JOSAL itself is higher: 3.0% within 12 months. It rests on far more data about JOSAL than the profile alone.
Test of the method
The method was tested on the 497,445 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 JOSAL. 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.
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €6,246 | €11,660 | ▲ 86.7% |
| Remuneration, social security and pensions62 | - | €37,696 | €55,496 | €79,852 | ▲ 43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,023 | €17,836 | €43,732 | €45,637 | ▲ 4.4% |
| Other operating charges640/8 | €2,905 | €25,991 | €1,275 | €3,691 | ▲ 190% |
| Gross operating margin9900 | €47,053 | €142,256 | €211,108 | €286,545 | ▲ 35.7% |
| Operating profit (loss)9901 | €41,125 | €60,733 | €110,605 | €157,364 | ▲ 42.3% |
| Financial income75/76B | €10 | €1 | €3 | €9 | ▲ 198% |
| Recurring financial income75 | €10 | €1 | €3 | €9 | ▲ 198% |
| Financial charges65/66B | €4,728 | €7,965 | €9,123 | €3,229 | ▼ 64.6% |
| Recurring financial charges65 | €4,728 | €7,965 | €9,123 | €3,229 | ▼ 64.6% |
| Profit (loss) for the period before taxes9903 | €36,406 | €52,768 | €101,485 | €154,144 | ▲ 51.9% |
| Income taxes67/77 | €10,192 | €18,809 | €27,372 | €45,825 | ▲ 67.4% |
| Profit (loss) for the period9904 | €26,214 | €33,959 | €74,113 | €108,319 | ▲ 46.2% |
| Profit (loss) for the period to be appropriated9905 | €26,214 | €33,959 | €74,113 | €108,319 | ▲ 46.2% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €181,213 | €273,397 | €315,718 | €432,321 | ▲ 36.9% |
| Fixed assets21/28 | €13,744 | €212,288 | €154,968 | €132,227 | ▼ 14.7% |
| Tangible fixed assets22/27 | €12,644 | €211,188 | €153,868 | €131,127 | ▼ 14.8% |
| Plant, machinery and equipment23 | €525 | €12,405 | €12,185 | €15,304 | ▲ 25.6% |
| Furniture and vehicles24 | €12,119 | €198,783 | €141,682 | €115,823 | ▼ 18.3% |
| Financial fixed assets28 | €1,100 | €1,100 | €1,100 | €1,100 | = |
| Current assets29/58 | €167,468 | €61,109 | €160,751 | €300,094 | ▲ 86.7% |
| Stocks and contracts in progress3 | - | - | €70,685 | €70,685 | = |
| Stocks30/36 | - | - | €70,685 | €70,685 | = |
| Amounts receivable within one year40/41 | €103,531 | €53,133 | €33,921 | €188,803 | ▲ 457% |
| Trade receivables40 | €97,416 | €24,832 | €3,164 | €98,096 | ▲ 31× |
| Other amounts receivable41 | €6,115 | €28,301 | €30,757 | €90,707 | ▲ 195% |
| Cash at bank and in hand54/58 | €63,937 | €5,061 | €53,353 | €39,911 | ▼ 25.2% |
| Deferred charges and accrued income490/1 | - | €2,915 | €2,792 | €694 | ▼ 75.1% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €181,213 | €273,397 | €315,718 | €432,321 | ▲ 36.9% |
| Equity10/15 | €31,214 | €65,173 | €43,286 | €92,781 | ▲ 114% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €26,214 | €60,173 | €38,286 | €87,781 | ▲ 129% |
| Amounts payable17/49 | €149,998 | €208,224 | €272,432 | €339,540 | ▲ 24.6% |
| Amounts payable after more than one year17 | - | €73,262 | €56,074 | €38,155 | ▼ 32.0% |
| Financial debts170/4 | - | €73,262 | €56,074 | €38,155 | ▼ 32.0% |
| Amounts payable within one year42/48 | €149,998 | €134,962 | €216,359 | €301,385 | ▲ 39.3% |
| Current portion of amounts payable after more than one year42 | - | €16,488 | €17,189 | €17,919 | ▲ 4.2% |
| Trade debts44 | €118,089 | €75,515 | €124,323 | €111,006 | ▼ 10.7% |
| Suppliers440/4 | €118,089 | €75,515 | €124,323 | €111,006 | ▼ 10.7% |
| Taxes, remuneration and social security45 | €11,982 | €42,959 | €74,847 | €172,460 | ▲ 130% |
| Taxes450/3 | €10,192 | €30,143 | €65,339 | €112,059 | ▲ 71.5% |
| Remuneration and social security454/9 | €1,790 | €12,817 | €9,508 | €60,400 | ▲ 535% |
| Other amounts payable47/48 | €19,928 | - | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,214 | €33,959 | €74,113 | €108,319 | ▲ 46.2% |
| + Depreciation and write-downs630 | €3,023 | €17,836 | €43,732 | €45,637 | ▲ 4.4% |
| Operating cash flow (approximation) | €29,237 | €51,796 | €117,845 | €153,956 | ▲ 30.6% |
| Investment in fixed assets (approximation) | - | -€216,380 | €13,588 | -€22,896 | - |
| Change in cash | - | -€58,877 | €48,292 | -€13,441 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Comparable companies
These companies have the same main activity as JOSAL: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €355,000 and €487,000, founded between 2020 and 2021.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| JOSAL Drogenbos | 2021 | €0.4m | €0.09m | €0.3m | - | €0.1m | - | 2025 |
| F&F Company Vilvoorde | 2021 | €0.5m | €0.2m | €0.2m | €2.2m | €0.2m | - | 2024 |
| LAC CONSTRUCT Sint-Pieters-Leeuw | 2020 | €0.4m | €0.1m | €0.3m | - | -€0.07m | 4.8 | 2025 |
| Renov'Art Lubbeek | 2021 | €0.5m | €0.2m | €0.4m | - | €0.2m | - | 2025 |
| CASA IMMO-CONSTRUCT Jemeppe-sur-Sambre | 2021 | €0.4m | €0.09m | €0.3m | - | €0.08m | - | 2025 |
| Bella 4 Work Antwerpen | 2020 | €0.4m | €0.2m | €0.3m | €0.4m | -€0.04m | - | 2024 |
| AT.construction Harelbeke | 2020 | €0.4m | €0.1m | €0.3m | - | €0.09m | - | 2026 |
They were chosen from the 15,546 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.