N.J. Explore
ActiveSummary
N.J. Explore has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €102,760 and a net result of €20,898. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 79% of 2067 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability89▲+12
Solvency100▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 4.09 against 3.58 in 2024; short-term debt: 21.1% and cash: 22.3% of total assets), and 22% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 85
Relative position
BE, all sectors
reference
Education (NACE 85)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
78%
Return on assets
15.9%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-08-2026, 4 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
4 d late
2024
49 d early
2023
2 d late
2022
18 d early
2021
45 d early
2020
31 d early
2019
28 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 24 days before the deadline; the sector median for financial year 2024 is 16 days before the deadline, and 32% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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
€102,760▲ 25.5%
2024 · €81,862
Total assets
€131,819▲ 19.7%
2024 · €110,136
Net result
€20,898▲ 182%
2024 · €7,402
Working capital
€86,139▲ 39.3%
2024 · €61,854
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 85, Education, 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-€2,571-€548▲ 78.7%€1,386€10,423▲ 652%€29,179▲ 180%
Net result-€2,020within the sector's middle half€64within the sector's middle half€1,757within the sector's middle half▲ 2,650%€7,402within the sector's middle half▲ 321%€20,898within the sector's middle half▲ 182%
Equity€72,638within the sector's middle half▼ 2.7%€72,702within the sector's middle half▲ 0.1%€74,460within the sector's middle half▲ 2.4%€81,862within the sector's middle half▲ 9.9%€102,760above the sector's middle half▲ 25.5%
Total assets€76,686within the sector's middle half▼ 7.4%€80,133within the sector's middle half▲ 4.5%€91,383within the sector's middle half▲ 14.0%€110,136within the sector's middle half▲ 20.5%€131,819within the sector's middle half▲ 19.7%
Debt€4,048▼ 50.2%€7,431▲ 83.6%€16,923▲ 128%€28,274▲ 67.1%€29,059▲ 2.8%
Working capital€69,500▼ 6.3%€70,402▲ 1.3%€60,994▼ 13.4%€61,854▲ 1.4%€86,139▲ 39.3%
Solvency94.7%above the sector's middle half▲ 4.5pp90.7%above the sector's middle half▼ 4.0pp81.5%above the sector's middle half▼ 9.2pp74.3%above the sector's middle half▼ 7.2pp78.0%above the sector's middle half▲ 3.6pp
above
within
below
the middle half (P25 to P75) of NACE 85, Education, 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 has risen four years in a row; 2025 is 180% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €131,819
Fixed assets
€17,824 ▼ 26.8%
Current assets
€113,995 ▲ 32.9%
Equity and liabilities €131,819
Equity
€102,760 ▲ 25.5%
Debt
€29,059 ▲ 2.8%
Debt's share of the balance-sheet total falls from 25.7% to 22.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€35,700▲
2024 · €16,037
Cash flow
€27,419▲
2024 · €13,016
Current ratio
4.09▲
2024 · 3.58
Quick ratio
2.37▲
2024 · 1.86
Debt to equity
0.28▼
2024 · 0.35
ROE
20.3%▲
2024 · 9.0%
ROA
15.9%▲
2024 · 6.7%
Interest coverage
52.08▲
2024 · 27.13
Debt ≤ 1 year
€27,856▲
2024 · €23,937
Debt > 1 year
€1,079▼
2024 · €4,275
Income taxes
€9,242▲
2024 · €3,773
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 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% | 1.6% |
| 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 74% 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 31,324 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 | €891 | €785 | €3,186 | €5,614 | €6,521 | ▲ 16.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €1,204 | €0 | - | - | €501 | - |
| Other operating charges640/8 | €1,020 | €759 | €697 | €594 | €775 | ▲ 30.6% |
| Gross operating margin9900 | €543 | €996 | €5,269 | €16,631 | €36,976 | ▲ 122% |
| Operating profit (loss)9901 | -€2,571 | -€548 | €1,386 | €10,423 | €29,179 | ▲ 180% |
| Financial income75/76B | €779 | €1,062 | €1,118 | €1,344 | €1,647 | ▲ 22.5% |
| Recurring financial income75 | €779 | €1,062 | €1,118 | €1,344 | €1,647 | ▲ 22.5% |
| Financial charges65/66B | €228 | €451 | €625 | €591 | €685 | ▲ 16.0% |
| Recurring financial charges65 | €228 | €451 | €625 | €591 | €685 | ▲ 16.0% |
| Profit (loss) for the period before taxes9903 | -€2,020 | €64 | €1,878 | €11,175 | €30,140 | ▲ 170% |
| Income taxes67/77 | - | - | €121 | €3,773 | €9,242 | ▲ 145% |
| Profit (loss) for the period9904 | -€2,020 | €64 | €1,757 | €7,402 | €20,898 | ▲ 182% |
| Profit (loss) for the period to be appropriated9905 | -€2,020 | €64 | €1,757 | €7,402 | €20,898 | ▲ 182% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €76,686 | €80,133 | €91,383 | €110,136 | €131,819 | ▲ 19.7% |
| Fixed assets21/28 | €3,308 | €2,522 | €20,951 | €24,345 | €17,824 | ▼ 26.8% |
| Tangible fixed assets22/27 | €3,308 | €2,522 | €20,951 | €24,345 | €17,824 | ▼ 26.8% |
| Plant, machinery and equipment23 | €3,308 | €2,522 | €2,149 | €2,752 | €1,654 | ▼ 39.9% |
| Furniture and vehicles24 | - | - | €18,802 | €21,593 | €16,170 | ▼ 25.1% |
| Current assets29/58 | €73,378 | €77,611 | €70,432 | €85,791 | €113,995 | ▲ 32.9% |
| Stocks and contracts in progress3 | €44,838 | €44,201 | €38,406 | €41,161 | €47,920 | ▲ 16.4% |
| Stocks30/36 | €44,838 | €44,201 | €38,406 | €41,161 | €47,920 | ▲ 16.4% |
| Amounts receivable within one year40/41 | €17,628 | €20,587 | €24,084 | €25,991 | €36,723 | ▲ 41.3% |
| Trade receivables40 | €3,685 | €3,503 | €4,789 | €3,581 | €7,892 | ▲ 120% |
| Other amounts receivable41 | €13,943 | €17,084 | €19,295 | €22,410 | €28,831 | ▲ 28.7% |
| Cash at bank and in hand54/58 | €10,708 | €12,734 | €7,581 | €18,639 | €29,352 | ▲ 57.5% |
| Deferred charges and accrued income490/1 | €205 | €89 | €361 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €76,686 | €80,133 | €91,383 | €110,136 | €131,819 | ▲ 19.7% |
| Equity10/15 | €72,638 | €72,702 | €74,460 | €81,862 | €102,760 | ▲ 25.5% |
| Contributions10/11 | €55,000 | €55,000 | €55,000 | €55,000 | €55,000 | = |
| Reserves13 | €8,331 | €8,331 | €8,331 | €15,331 | €25,331 | ▲ 65.2% |
| Non-distributable reserves130/1 | €1,331 | €1,331 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,331 | €1,331 | €0 | - | - | - |
| Distributable reserves133 | €7,000 | €7,000 | €8,331 | €15,331 | €25,331 | ▲ 65.2% |
| Profit (loss) carried forward14 | €9,308 | €9,371 | €11,129 | €11,531 | €22,429 | ▲ 94.5% |
| Amounts payable17/49 | €4,048 | €7,431 | €16,923 | €28,274 | €29,059 | ▲ 2.8% |
| Amounts payable after more than one year17 | - | - | €7,410 | €4,275 | €1,079 | ▼ 74.8% |
| Financial debts170/4 | - | - | €7,410 | €4,275 | €1,079 | ▼ 74.8% |
| Amounts payable within one year42/48 | €3,878 | €7,208 | €9,438 | €23,937 | €27,856 | ▲ 16.4% |
| Current portion of amounts payable after more than one year42 | - | - | €3,074 | €3,134 | €3,196 | ▲ 2.0% |
| Trade debts44 | €2,522 | €6,047 | €5,537 | €11,682 | €7,768 | ▼ 33.5% |
| Suppliers440/4 | €2,522 | €6,047 | €5,537 | €11,682 | €7,768 | ▼ 33.5% |
| Advances received on contracts in progress46 | - | - | - | €5,000 | €1,000 | ▼ 80.0% |
| Taxes, remuneration and social security45 | €1,356 | €1,161 | €828 | €4,121 | €15,892 | ▲ 286% |
| Taxes450/3 | €1,356 | €1,161 | €828 | €4,121 | €15,892 | ▲ 286% |
| Accrued charges and deferred income492/3 | €169 | €222 | €75 | €62 | €124 | ▲ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,020 | €64 | €1,757 | €7,402 | €20,898 | ▲ 182% |
| + Depreciation and write-downs630 | €891 | €785 | €3,186 | €5,614 | €6,521 | ▲ 16.2% |
| Operating cash flow (approximation) | -€1,129 | €849 | €4,944 | €13,016 | €27,419 | ▲ 111% |
| Investment in fixed assets (approximation) | - | €0 | -€21,615 | -€9,009 | €0 | ▲ 100% |
| Change in cash | - | €2,025 | -€5,153 | €11,058 | €10,713 | ▼ 3.1% |
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
04-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 4 days late
2025
31-12
Financial
Highest result since 2018net €20,898 ▲182%
Operating result €29,179, net result €20,898, both a record.
31-12
Financial
Equity above €100,000Eq €102,760 ▲25.5%
4 profitable years in a row build equity to €102,760.
12-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 2 days late
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €64
Net result €64 after one loss-making year.
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€2,020
Net result drops to -€2,020, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · 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, Tienen · 1 establishment unit since 2006
Ground area
1,656 m²
Building footprint
573 m²
Volume, LiDAR
2,400 m³
Parcel 24594C0277/00V002, Flanders · tallest building 6.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
N.J. EXPLORE
since 20062.153.519.665
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24594C0277/00V002 | Flanders | 1,656 m² | 1 · 573 m² | 6.1 m · 1 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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COACH TO COMPETENCE
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Of 13,507 companies in sector 85510 we hold annual accounts for 720. 511 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
Founded21-04-2006
Fiscal year end31-12
Activities, NACEBEL 2025
85510Sports and recreation education
47639Retail sale of other sporting goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0880853535
Also
9925:BE0880853535
Registered
09-10-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.