JPEG
ActiveSummary
JPEG has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2,036 and a net result of €87,436. Equity is shrinking by ~27.4% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 15% of 3507 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency27▲+1
Growth58=
Track record94
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
2.2%
Return on assets
92.5%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 3507 sector peers (2025).
NBB · sector comparisonPosition among 3507 sector peers
Solvency
better than 15%
← weakest
strongest →
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 01-07-2026, 30 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
30 d early
2024
55 d early
2023
139 d early
2022
167 d early
2021
34 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 85 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% 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 6 June (4 of the last 5 filed years within 83 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€2,036▲ 1.8%
2024 · €2,000
Total assets
€94,500▼ 33.2%
2024 · €141,453
Net result
€87,436▼ 23.2%
2024 · €113,833
Working capital
-€19,058▼ 106%
2024 · -€9,252
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, 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
Operating result€42,531-€68,754▲ 61.7%€119,000▲ 73.1%€153,302▲ 28.8%€116,710▼ 23.9%
Net result€31,788above the sector's middle half-€51,401above the sector's middle half▲ 61.7%€88,499above the sector's middle half▲ 72.2%€113,833above the sector's middle half▲ 28.6%€87,436above the sector's middle half▼ 23.2%
Equity€33,788within the sector's middle half-€85,189within the sector's middle half▲ 152%€173,688above the sector's middle half▲ 104%€2,000below the sector's middle half▼ 98.8%€2,036below the sector's middle half▲ 1.8%
Total assets€50,240within the sector's middle half-€114,570within the sector's middle half▲ 128%€223,159within the sector's middle half▲ 94.8%€141,453within the sector's middle half▼ 36.6%€94,500within the sector's middle half▼ 33.2%
Debt€16,452-€29,381▲ 78.6%€49,471▲ 68.4%€139,453▲ 182%€92,464▼ 33.7%
Working capital€14,085within the sector's middle half-€67,126within the sector's middle half▲ 377%€157,292above the sector's middle half▲ 134%-€9,252below the sector's middle half-€19,058below the sector's middle half▼ 106%
Solvency67.3%within the sector's middle half-74.4%above the sector's middle half▲ 7.1pp77.8%above the sector's middle half▲ 3.5pp1.4%below the sector's middle half▼ 76.4pp2.2%below the sector's middle half▲ 0.7pp
Current ratio1.86within the sector's middle half-3.30within the sector's middle half▲ 1.454.20above the sector's middle half▲ 0.890.93below the sector's middle half▼ 3.260.79below the sector's middle half▼ 0.14
Return on assets (ROA)63.3%above the sector's middle half-44.9%above the sector's middle half▼ 18.4pp39.7%above the sector's middle half▼ 5.2pp80.5%above the sector's middle half▲ 40.8pp92.5%above the sector's middle half▲ 12.1pp
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 24% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €94,500
Fixed assets
€21,284 ▲ 79.0%
Current assets
€73,216 ▼ 43.5%
Equity and liabilities €94,500
Equity
€2,036 ▲ 1.8%
Debt
€92,464 ▼ 33.7%
Debt's share of the balance-sheet total falls from 98.6% to 97.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€124,048▼
2024 · €163,677
Cash flow
€94,775▼
2024 · €124,209
Debt to equity
45.41▼
2024 · 69.73
Interest coverage
961.09▲
2024 · 263.74
Debt ≤ 1 year
€92,274▼
2024 · €138,813
Income taxes
€29,222▼
2024 · €38,856
A ratio outside any meaningful range has been withheld (balance sheet total €94,500, equity €2,036).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,155 companies that looked in July 2024 the way this one looks now, 2.6% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
2.6%
went bankrupt
2.6%
stopped otherwise
94%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,155 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7 | €7,290 | €8,488 | €10,376 | €7,338 | ▼ 29.3% |
| Other operating charges640/8 | €531 | €1,012 | €974 | €570 | €586 | ▲ 2.8% |
| Non-recurring operating charges66A | - | €697 | €0 | - | €1,397 | - |
| Gross operating margin9900 | €43,069 | €77,753 | €128,463 | €164,247 | €126,032 | ▼ 23.3% |
| Operating profit (loss)9901 | €42,531 | €68,754 | €119,000 | €153,302 | €116,710 | ▼ 23.9% |
| Financial income75/76B | - | €23 | €0 | €8 | €78 | ▲ 822% |
| Recurring financial income75 | - | €23 | €0 | €8 | €78 | ▲ 822% |
| Financial charges65/66B | - | €178 | €192 | €621 | €129 | ▼ 79.2% |
| Recurring financial charges65 | - | €178 | €192 | €621 | €129 | ▼ 79.2% |
| Profit (loss) for the period before taxes9903 | €42,531 | €68,599 | €118,808 | €152,689 | €116,659 | ▼ 23.6% |
| Income taxes67/77 | €10,743 | €17,198 | €30,309 | €38,856 | €29,222 | ▼ 24.8% |
| Profit (loss) for the period9904 | €31,788 | €51,401 | €88,499 | €113,833 | €87,436 | ▼ 23.2% |
| Profit (loss) for the period to be appropriated9905 | €31,788 | €51,401 | €88,499 | €113,833 | €87,436 | ▼ 23.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €50,240 | €114,570 | €223,159 | €141,453 | €94,500 | ▼ 33.2% |
| Fixed assets21/28 | €19,702 | €18,284 | €16,639 | €11,892 | €21,284 | ▲ 79.0% |
| Tangible fixed assets22/27 | €19,702 | €18,284 | €16,639 | €11,892 | €21,284 | ▲ 79.0% |
| Plant, machinery and equipment23 | €15,703 | €15,085 | €9,731 | €1,854 | €13,085 | ▲ 606% |
| Furniture and vehicles24 | €3,999 | €3,199 | €2,399 | €4,121 | €2,701 | ▼ 34.5% |
| Other tangible fixed assets26 | - | - | €4,508 | €5,916 | €5,497 | ▼ 7.1% |
| Current assets29/58 | €30,538 | €96,286 | €206,520 | €129,561 | €73,216 | ▼ 43.5% |
| Amounts receivable within one year40/41 | €23,524 | €4,377 | €14,693 | €15,586 | €22,880 | ▲ 46.8% |
| Trade receivables40 | €23,524 | €3,964 | €11,764 | €6,804 | €18,054 | ▲ 165% |
| Other amounts receivable41 | - | €413 | €2,929 | €8,781 | €4,826 | ▼ 45.0% |
| Cash at bank and in hand54/58 | €7,014 | €91,909 | €191,827 | €113,976 | €49,997 | ▼ 56.1% |
| Deferred charges and accrued income490/1 | - | - | - | - | €339 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €50,240 | €114,570 | €223,159 | €141,453 | €94,500 | ▼ 33.2% |
| Equity10/15 | €33,788 | €85,189 | €173,688 | €2,000 | €2,036 | ▲ 1.8% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €31,788 | €83,189 | €171,688 | €0 | - | - |
| Distributable reserves133 | €31,788 | €83,189 | €171,688 | €0 | - | - |
| Profit (loss) carried forward14 | - | - | - | €0 | €36 | - |
| Amounts payable17/49 | €16,452 | €29,381 | €49,471 | €139,453 | €92,464 | ▼ 33.7% |
| Amounts payable within one year42/48 | €16,452 | €29,160 | €49,228 | €138,813 | €92,274 | ▼ 33.5% |
| Trade debts44 | €142 | €876 | €1,280 | €1,093 | €3,327 | ▲ 204% |
| Suppliers440/4 | €142 | €876 | €1,280 | €1,093 | €3,327 | ▲ 204% |
| Advances received on contracts in progress46 | - | - | €400 | €0 | - | - |
| Taxes, remuneration and social security45 | €15,690 | €27,364 | €46,634 | €17,606 | €11,971 | ▼ 32.0% |
| Taxes450/3 | €15,690 | €26,364 | €45,409 | €16,381 | €10,746 | ▼ 34.4% |
| Remuneration and social security454/9 | - | €1,000 | €1,225 | €1,225 | €1,225 | = |
| Other amounts payable47/48 | €620 | €920 | €914 | €120,114 | €76,976 | ▼ 35.9% |
| Accrued charges and deferred income492/3 | - | €221 | €242 | €640 | €190 | ▼ 70.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,788 | €51,401 | €88,499 | €113,833 | €87,436 | ▼ 23.2% |
| + Depreciation and write-downs630 | €7 | €7,290 | €8,488 | €10,376 | €7,338 | ▼ 29.3% |
| Operating cash flow (approximation) | €31,795 | €58,691 | €96,988 | €124,209 | €94,775 | ▼ 23.7% |
| Investment in fixed assets (approximation) | - | -€5,872 | -€6,843 | -€5,629 | -€16,731 | ▼ 197% |
| Change in cash | - | €84,895 | €99,918 | -€77,851 | -€63,979 | ▲ 17.8% |
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
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
06-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2021net €113,833 ▲28.6%
Operating result €153,302, net result €113,833, both a record.
14-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150,000Eq €173,688 ▲104%
3 profitable years in a row build equity to €173,688.
14-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Jette · 1 establishment unit since 2021
Ground area
499 m²
Building footprint
80 m²
Volume, LiDAR
790 m³
Parcel 21010B0137/00V003, Brussels · tallest building 13.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
JPEG
since 20212.325.066.541
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21010B0137/00V003 | Brussels | 499 m² | 1 · 80 m² | 13.8 m · 4 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.
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Of 14,138 companies in sector 74201 we hold annual accounts for 2,616. 411 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-12-2021
Fiscal year end31-12
Activities, NACEBEL 2025
74201Photography, excluding press photography
E-invoicing
Reachable via Peppol
Peppol ID
0208:0778582178
Also
9925:BE0778582178
Registered
31-10-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.