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JPBT

Active
Private limited company (pre-2019)founded 2016active for 10 yearsRue de Nazareth(Sil) 21, 5630 Cerfontaine, BelgiumKBO/BCE: BE 0662.542.365

Financials · financial year 2025, abbreviated format

Annual accounts 2025 filed on 25-06-2026 at the NBB all 9 filings

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€3,620▼ 492%
2024 · -€612
Working capital
-€380,218▼ 1.0%
2024 · -€376,598
Multi-year overview
2018 to 2025, 8 financial years
Operating result
-€3,439
▼ 644% 2025
20182025
Net result
-€3,620
▼ 492% 2025
20182025
Equity
-€380,218
▼ 1.0% 2025
20182025
Total assets
€93
▼ 96.6% 2025
20182025
Debt
€380,311
▲ 0.3% 2025
20182025
Working capital
-€380,218
▼ 1.0% 2025
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result-€98,029--€61,964▲ 36.8%-€597▲ 99.0%-€1,231▼ 106%-€3,081▼ 150%-€817▲ 73.5%-€462▲ 43.4%-€3,439▼ 644%
Net result-€106,964--€88,624▲ 17.1%-€905▲ 99.0%-€1,430▼ 58.0%-€3,253▼ 127%-€1,095▲ 66.3%-€612▲ 44.1%-€3,620▼ 492%
Equity-€280,679--€369,303▼ 31.6%-€370,208▼ 0.2%-€371,638▼ 0.4%-€374,891▼ 0.9%-€375,986▼ 0.3%-€376,598▼ 0.2%-€380,218▼ 1.0%
Total assets€137,211-€3,374▼ 97.5%€92▼ 97.3%€2,762▲ 30×€3,509▲ 27.0%€2,914▼ 16.9%€2,701▼ 7.3%€93▼ 96.6%
Debt€417,890-€372,678▼ 10.8%€370,300▼ 0.6%€374,400▲ 1.1%€378,400▲ 1.1%€378,900▲ 0.1%€379,298▲ 0.1%€380,311▲ 0.3%
Working capital-€309,882--€369,303▼ 19.2%-€370,208▼ 0.2%-€371,638▼ 0.4%-€374,891▼ 0.9%-€375,986▼ 0.3%-€376,598▼ 0.2%-€380,218▼ 1.0%
Staff (FTE)4.3-0.6▼ 86.0%

The operating result for 2025 is a loss of €3,439, larger than the loss of €462 in 2024. It is the lowest result since 2021.

Key figures and ratios
2025 value · change against 2024
Debt ≤ 1 year
€380,311▲
2024 · €379,298
The ratios are withheld because a balance sheet total of €93 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 26 lines
Balance sheet Code20242025
Assets
Total assets20/58€2,701€93▼
Current assets29/58€2,701€93▼
Amounts receivable within one year40/41€2,500-
Trade receivables40€2,500-
Cash at bank and in hand54/58€201€93▼
Equity and liabilities
Total equity and liabilities10/49€2,701€93▼
Equity10/15-€376,598-€380,218▼
Contributions10/11€18,600€18,600=
Capital10€18,600€18,600=
Issued capital100€18,600€18,600=
Profit (loss) carried forward14-€395,198-€398,818▼
Amounts payable17/49€379,298€380,311▲
Amounts payable within one year42/48€379,298€380,311▲
Trade debts44€398€411▲
Suppliers440/4€398€411▲
Other amounts payable47/48€378,900€379,900▲
Income statement Code20242025
Other operating charges640/8€398€670▲
Gross operating margin9900-€64-€2,769▼
Operating profit (loss)9901-€462-€3,439▼
Financial charges65/66B€150€181▲
Recurring financial charges65€150€181▲
Profit (loss) for the period before taxes9903-€612-€3,620▼
Profit (loss) for the period9904-€612-€3,620▼
Profit (loss) for the period to be appropriated9905-€612-€3,620▼
Appropriation of the result
Profit (loss) to be appropriated9906-€395,198-€398,818▼
Profit (loss) brought forward from the previous period14P-€394,586-€395,198▼

Source: Annual accounts 2025 at the NBB, filed on 25-06-2026.

Line20182019202020212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9,635--------
Other operating charges640/8----€431€732€398€670▲ 68.1%
Gross operating margin9900€23,845-€42,063-€128-€1,231-€2,650-€85-€64-€2,769▼ 4,241%
Operating profit (loss)9901-€98,029-€61,964-€597-€1,231-€3,081-€817-€462-€3,439▼ 644%
Recurring financial income75€0--------
Financial charges65/66B---€199€172€278€150€181▲ 20.7%
Recurring financial charges65€8,935€316€308€199€172€278€150€181▲ 20.7%
Profit (loss) for the period before taxes9903-€106,964-€88,624-€905-€1,430-€3,253-€1,095-€612-€3,620▼ 492%
Income taxes67/77€0--------
Profit (loss) for the period9904-€106,964-€88,624-€905-€1,430-€3,253-€1,095-€612-€3,620▼ 492%
Profit (loss) for the period to be appropriated9905-€106,964-€88,624-€905-€1,430-€3,253-€1,095-€612-€3,620▼ 492%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€137,211€3,374€92€2,762€3,509€2,914€2,701€93▼ 96.6%
Fixed assets21/28€29,203--------
Tangible fixed assets22/27€26,344--------
Financial fixed assets28€2,859--------
Current assets29/58€108,009€3,374€92€2,762€3,509€2,914€2,701€93▼ 96.6%
Stocks and contracts in progress3€42,386--------
Amounts receivable within one year40/41€42,521€1,976€12€2,755€3,232€2,500€2,500--
Trade receivables40---€2,500€2,500€2,500€2,500--
Other amounts receivable41---€255€732----
Cash at bank and in hand54/58€23,101€1,399€80€7€277€414€201€93▼ 53.6%
Equity and liabilities
Total equity and liabilities10/49€137,211€3,374€92€2,762€3,509€2,914€2,701€93▼ 96.6%
Equity10/15-€280,679-€369,303-€370,208-€371,638-€374,891-€375,986-€376,598-€380,218▼ 1.0%
Contributions10/11€18,600€18,600€18,600€18,600€18,600€18,600€18,600€18,600=
Capital10-----€18,600€18,600€18,600=
Issued capital100-----€18,600€18,600€18,600=
Profit (loss) carried forward14-€299,279-€387,903-€388,808-€390,238-€393,491-€394,586-€395,198-€398,818▼ 0.9%
Amounts payable17/49€417,890€372,678€370,300€374,400€378,400€378,900€379,298€380,311▲ 0.3%
Amounts payable within one year42/48€417,890€372,678€370,300€374,400€378,400€378,900€379,298€380,311▲ 0.3%
Trade debts44€246,523€2,678----€398€411▲ 3.1%
Suppliers440/4------€398€411▲ 3.1%
Other amounts payable47/48---€374,400€378,400€378,900€378,900€379,900▲ 0.3%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904-€106,964-€88,624-€905-€1,430-€3,253-€1,095-€612-€3,620▼ 492%
+ Depreciation and write-downs630€9,635--------
Operating cash flow (approximation)-€97,328-€88,624-€905-€1,430-€3,253-€1,095-€612-€3,620▼ 492%
Change in cash--€21,703-€1,318-€73€270€137-€214-€108▲ 49.7%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 6,907 companies had the same profile as JPBT has now. Two years later, 85.4% were still going and 5.8% had gone bankrupt.

  • Micro
  • 10 to 20 years old
  • negative equity
  • a loss of 10% of the balance sheet or more
85.4% was still going
8.1% stopped otherwise
5.8% went bankrupt

Another 0.6% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of JPBT itself: 3.2% 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 6,907 companies, not a prediction for JPBT. 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 (9)
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 25-06-2026 2026-00239159 PDF
31-12-2024 micro format 27-08-2025 2025-00425501 PDF
31-12-2023 micro format 10-07-2024 2024-00236000 PDF
31-12-2022 full format 12-06-2023 2023-00123100 PDF
31-12-2021 full format 30-06-2022 2022-20119060 PDF
31-12-2020 full format 23-06-2021 2021-23200112 PDF
31-12-2019 full format 14-07-2020 2020-30100098 PDF
31-12-2018 full format 11-06-2019 2019-17100508 PDF
31-12-2017 full format 18-06-2018 2018-19400128 PDF

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