JU
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-03-2026 PDF all 5 filings
Turnover
≈ €210,000
Estimated: probably between €150,000 and €270,000
Total assets
€94,509▼ 21.6%
2024 · €120,500
Net result
€54,790▼ 18.6%
2024 · €67,344
Working capital
-€14,438▲ 5.7%
2024 · -€15,314
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€74,759
▲ 10.9%
2025
20212025
Net result
€54,790
▼ 18.6%
2025
middle half of the sector
20212025
Equity
€103
▼ 89.3%
2025
lowest quarter of the sector
20212025
Total assets
€94,509
▼ 21.6%
2025
middle half of the sector
20212025
Debt
€94,406
▼ 21.0%
2025
20212025
Working capital
-€14,438
▲ 5.7%
2025
lowest quarter of the sector
20212025
Solvency
0.1%
▼ 0.7pp
2025
lowest quarter of the sector
20212025
Current ratio
0.84
▼ 0.02
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
58.0%
▲ 2.1pp
2025
highest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€41,746-€69,233▲ 65.8%€44,259▼ 36.1%€67,434▲ 52.4%€74,759▲ 10.9%
Net result€16,235within the sector's middle half-€66,471within the sector's middle half▲ 309%€35,813within the sector's middle half▼ 46.1%€67,344within the sector's middle half▲ 88.0%€54,790within the sector's middle half▼ 18.6%
Equity€16,335below the sector's middle half-€82,806within the sector's middle half▲ 407%€118,619within the sector's middle half▲ 43.2%€963below the sector's middle half▼ 99.2%€103below the sector's middle half▼ 89.3%
Total assets€65,935below the sector's middle half-€181,957within the sector's middle half▲ 176%€199,585within the sector's middle half▲ 9.7%€120,500within the sector's middle half▼ 39.6%€94,509within the sector's middle half▼ 21.6%
Debt€49,600-€99,151▲ 99.9%€80,966▼ 18.3%€119,537▲ 47.6%€94,406▼ 21.0%
Working capital€10,483below the sector's middle half-€59,936within the sector's middle half▲ 472%€98,984within the sector's middle half▲ 65.1%-€15,314below the sector's middle half-€14,438below the sector's middle half▲ 5.7%
Solvency24.8%below the sector's middle half-45.5%within the sector's middle half▲ 20.7pp59.4%within the sector's middle half▲ 13.9pp0.8%below the sector's middle half▼ 58.6pp0.1%below the sector's middle half▼ 0.7pp
Current ratio1.21below the sector's middle half-1.85within the sector's middle half▲ 0.642.65within the sector's middle half▲ 0.800.86below the sector's middle half▼ 1.800.84below the sector's middle half▼ 0.02
Return on assets (ROA)24.6%within the sector's middle half-36.5%above the sector's middle half▲ 11.9pp17.9%within the sector's middle half▼ 18.6pp55.9%above the sector's middle half▲ 37.9pp58.0%above the sector's middle half▲ 2.1pp
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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 11% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro 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 €94,509
Fixed assets
€19,855 ▼ 32.7%
Current assets
€74,655 ▼ 18.0%
Equity and liabilities €94,509
Equity
€103 ▼ 89.3%
Debt
€94,406 ▼ 21.0%
Debt's share of the balance-sheet total rises from 99.2% to 99.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€86,737▲
2024 · €79,860
Cash flow
€66,768▼
2024 · €79,769
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€89,093▼
2024 · €106,318
Debt > 1 year
€5,314▼
2024 · €13,219
Income taxes
€19,833▲
2024 · €18,835
The equity ratios are withheld because equity of €103 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.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,580 | €52,864 | €2,451 | €1,239 | €2,337 |
| Depreciation and write-downs of the year | €1,728 | €7,049 | €13,436 | €12,425 | €11,978 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,728 | €7,049 | €13,436 | €12,425 | €11,978 | ▼ 3.6% |
| Other operating charges640/8 | €469 | €524 | €2,019 | €815 | €842 | ▲ 3.2% |
| Gross operating margin9900 | €43,943 | €76,805 | €59,715 | €80,675 | €87,578 | ▲ 8.6% |
| Operating profit (loss)9901 | €41,746 | €69,233 | €44,259 | €67,434 | €74,759 | ▲ 10.9% |
| Financial income75/76B | €1 | - | €0 | €19,184 | €394 | ▼ 97.9% |
| Recurring financial income75 | €1 | - | €0 | €19,184 | €394 | ▼ 97.9% |
| Financial charges65/66B | €32 | €3,680 | -€2,956 | €439 | €530 | ▲ 20.7% |
| Recurring financial charges65 | €32 | €3,680 | -€2,956 | €439 | €530 | ▲ 20.7% |
| Profit (loss) for the period before taxes9903 | €41,716 | €65,553 | €47,215 | €86,179 | €74,622 | ▼ 13.4% |
| Income taxes67/77 | €25,481 | -€918 | €11,402 | €18,835 | €19,833 | ▲ 5.3% |
| Profit (loss) for the period9904 | €16,235 | €66,471 | €35,813 | €67,344 | €54,790 | ▼ 18.6% |
| Profit (loss) for the period to be appropriated9905 | €16,235 | €66,471 | €35,813 | €67,344 | €54,790 | ▼ 18.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €65,935 | €181,957 | €199,585 | €120,500 | €94,509 | ▼ 21.6% |
| Fixed assets21/28 | €5,852 | €51,668 | €40,682 | €29,496 | €19,855 | ▼ 32.7% |
| Tangible fixed assets22/27 | €5,852 | €51,668 | €40,682 | €29,496 | €19,855 | ▼ 32.7% |
| Plant, machinery and equipment23 | - | €1,806 | - | - | - | - |
| Furniture and vehicles24 | €5,852 | €49,862 | €39,303 | €28,542 | €19,327 | ▼ 32.3% |
| Other tangible fixed assets26 | - | - | €1,380 | €954 | €528 | ▼ 44.7% |
| Current assets29/58 | €60,083 | €130,289 | €158,902 | €91,004 | €74,655 | ▼ 18.0% |
| Amounts receivable within one year40/41 | €16,379 | €10,120 | €9,971 | €10,722 | €4,633 | ▼ 56.8% |
| Trade receivables40 | €16,073 | €10,039 | €9,434 | €10,722 | €810 | ▼ 92.4% |
| Other amounts receivable41 | €306 | €81 | €537 | - | €3,823 | - |
| Current investments50/53 | €20,000 | €36,473 | €95,000 | - | - | - |
| Cash at bank and in hand54/58 | €23,166 | €82,006 | €52,634 | €77,984 | €67,194 | ▼ 13.8% |
| Deferred charges and accrued income490/1 | €537 | €1,690 | €1,297 | €2,298 | €2,829 | ▲ 23.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €65,935 | €181,957 | €199,585 | €120,500 | €94,509 | ▼ 21.6% |
| Equity10/15 | €16,335 | €82,806 | €118,619 | €963 | €103 | ▼ 89.3% |
| Contributions10/11 | €100 | €100 | €100 | €100 | €100 | = |
| Reserves13 | - | - | €118,000 | - | - | - |
| Distributable reserves133 | - | - | €118,000 | - | - | - |
| Profit (loss) carried forward14 | €16,235 | €82,706 | €519 | €863 | €3 | ▼ 99.7% |
| Amounts payable17/49 | €49,600 | €99,151 | €80,966 | €119,537 | €94,406 | ▼ 21.0% |
| Amounts payable after more than one year17 | - | €28,798 | €21,047 | €13,219 | €5,314 | ▼ 59.8% |
| Financial debts170/4 | - | €28,798 | €21,047 | €13,219 | €5,314 | ▼ 59.8% |
| Amounts payable within one year42/48 | €49,600 | €70,353 | €59,919 | €106,318 | €89,093 | ▼ 16.2% |
| Current portion of amounts payable after more than one year42 | - | €7,675 | €7,751 | €7,828 | €7,905 | ▲ 1.0% |
| Trade debts44 | €487 | €8,640 | €2,876 | €1,116 | €1,777 | ▲ 59.3% |
| Suppliers440/4 | €487 | €8,640 | €2,876 | €1,116 | €1,777 | ▲ 59.3% |
| Advances received on contracts in progress46 | €2,000 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €15,812 | €19,829 | €20,845 | €21,586 | €17,690 | ▼ 18.0% |
| Taxes450/3 | €15,812 | €19,829 | €20,845 | €21,586 | €17,690 | ▼ 18.0% |
| Other amounts payable47/48 | €31,301 | €34,208 | €28,447 | €75,789 | €61,720 | ▼ 18.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,235 | €66,471 | €35,813 | €67,344 | €54,790 | ▼ 18.6% |
| + Depreciation and write-downs630 | €1,728 | €7,049 | €13,436 | €12,425 | €11,978 | ▼ 3.6% |
| Operating cash flow (approximation) | €17,963 | €73,519 | €49,250 | €79,769 | €66,768 | ▼ 16.3% |
| Investment in fixed assets (approximation) | - | -€52,864 | -€2,451 | -€1,239 | -€2,337 | ▼ 88.6% |
| Change in cash | - | €58,840 | -€29,372 | €25,350 | -€10,791 | - |
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, 2,153 companies had the same profile as JU has now. Two years later, 96.1% were still going and 1.7% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
96.1%
was still going
2.2%
stopped otherwise
1.7%
went bankrupt
The bankruptcy probability of JU itself is lower: < 0.1% within 12 months. It rests on far more data about JU than the profile alone.
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 2,153 companies, not a prediction for JU. 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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-03-2026 | 2026-00067268 | |
| 31-12-2024 | micro format | 04-06-2025 | 2025-00118037 | |
| 31-12-2023 | micro format | 24-05-2024 | 2024-00095167 | |
| 31-12-2022 | micro format | 26-06-2023 | 2023-00155766 | |
| 31-12-2021 | micro format | 23-08-2022 | 2022-20305440 |