Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 0 % of short-term debt in 2025; threshold 65 %.
-
Busy address KBO
13 other companies have their registered office at the same address; threshold 10.
-
Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
Justice & Courage from Brussel, company number BE0563635227, closed financial year 2025 with a result of € -437 after tax. For that financial year Justice & Courage recorded a gross margin of € -229 and equity of € -2,335. Compared with financial year 2024, the result moved from € -272 to € -437. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 22, 2026.
€ -2,335
▼ € 437 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -437
▼ 61 % more loss than in 2024
Profit after tax over the fiscal year.
€ 7
▼ 94% vs 2024
Cash and bank balances on the last day of the fiscal year.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -57 | € -64 | € -64 | € -229 | ▼ € 165 |
| Profit after taxes | € -247 | € -271 | € -272 | € -437 | ▼ € 165 |
| Equity | € -1,355 | € -1,627 | € -1,898 | € -2,335 | ▼ € 437 |
| Total debts | € 1,522 | € 1,872 | € 2,022 | € 2,342 | ▲ 16% |
| Cash | € 167 | € 245 | € 124 | € 7 | ▼ 94% |
| Retained profit | € -1,355 | € -1,627 | € -1,898 | € -2,335 | ▼ € 437 |
| Balance sheet total | € 167 | € 245 | € 124 | € 7 | ▼ 94% |
Key figures of Justice & Courage, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Justice & Courage?
What happened at Justice & Courage in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 437. Source: NBB ↗
- JUSTINE TIXHON became a director. NBB
- MORGAN BONNEURE became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 247 loss in 2022 to € 437 loss in 2025.
Management
Behind Justice & Courage are JUSTINE TIXHON, MICHELE HIRSCH and MORGAN BONNEURE. MICHELE HIRSCH is also behind GESTION D'IMMEUBLES DE FRE, MICHELE HIRSCH AVOCAT- ADVOCAAT and MICHELE HIRSCH ET CIE,AVOCATS. MORGAN BONNEURE is also behind HB Lawyers.
Directors
According to the 2025 annual accounts
JUSTINE TIXHON
Director
since 2025
MICHELE HIRSCH
Director
Also active at: GESTION D'IMMEUBLES DE FRE, MICHELE HIRSCH AVOCAT- ADVOCAAT, MICHELE HIRSCH ET CIE,AVOCATS
since 2024
Establishments
Establishment units
Physical locations of this company
Dageraadstraat 44
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 13 companies are registered at this address.
All companies at this address →BROADBAND AND BROADCAST SYSTEMS INTEGRATORS
€ 2,492 gross margin · 2025
Le Roi des Moules
LES HELLENES
Video Advice and Application Center
FINALEASE
€ 446,969 gross margin · 2025
+8 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0563.635.227
- VAT number
- BE 0563.635.227
- Registered office
- Dageraadstraat 44, 1000 Brussel
- Names & denominations
- Justice & Courage
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 3 October 2014
- Peppol
- Not registered