Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 2 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 3.4 to 3.
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Busy address KBO
49 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
HJO Real Estate from Brussel, company number BE0727904331, closed financial year 2025 with a result of € -375,387 after tax. For that financial year HJO Real Estate recorded a gross margin of € 433,418 and equity of € -655,662. Compared with financial year 2024, the result moved from € -428,284 to € -375,387. 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 July 28, 2026.
€ -655,662
▼ € 375,387 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -375,387
▲ 12 % less loss than in 2024
Profit after tax over the fiscal year.
€ 44,019
▼ 97% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.8 million.
People and assets in 2025
3
▼ 0.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 359,363
▼ 2% vs 2024
€ 119,800 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 84,887
▲ € 65,596 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 11.2 million
▼ 28% vs 2024
€ 97,169 is repaid this year. At this pace the long-term loan is gone in ≈ 48 years.
€ 689,401
▼ 58% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 117,133
▼ 58% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 217,851 | € 510,044 | € 235,755 | € 433,418 | ▲ 84% |
| Profit after taxes | € -227,476 | € -142,569 | € -428,284 | € -375,387 | ▲ € 52,896 |
| Equity | € -209,422 | € -351,991 | € -280,275 | € -655,662 | ▼ € 375,387 |
| Total debts | € 15,628,930 | € 17,941,424 | € 21,631,566 | € 17,614,527 | ▼ 19% |
| Cash | € 908,118 | € 483,913 | € 1,316,177 | € 44,019 | ▼ 97% |
| Retained profit | € -871,422 | € -1,013,991 | € -1,442,275 | € -1,817,662 | ▼ € 375,387 |
| Bank debt | € 12,827,148 | € 14,476,196 | € 15,615,890 | € 11,245,105 | ▼ 28% |
| Balance sheet total | € 15,419,508 | € 17,589,433 | € 21,351,292 | € 16,958,865 | ▼ 21% |
| Employees (FTE) | 2.3 | 3.4 | 3.1 | 3 | ▼ 0.1 |
Key figures of HJO Real Estate, 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 HJO Real Estate?
What happened at HJO Real Estate in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Héloïse Bontoux stepped down as director. NBB
- Olivier Moncelet stepped down as director. NBB
- Michel Grignard stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 375,387. Source: NBB ↗
- THREE STONES IMMO stepped down as director. NBB
- Héloïse Bontoux became a director. NBB
- New establishment in Esneux. KBO
- Olivier Moncelet became a director. NBB
In short
From € 227,476 loss in 2022 to € 375,387 loss in 2025.
Paid € 2,798 in corporate taxes since 2022.
On average € 144,500 of value added per employee in 2025.
Management
Directors
According to the 2025 annual accounts
Olivier Moncelet
Managing director
Also active at: Cobevri, A.I.M., MARNIX 21-22, MARNIX 20, ADVANCE BUILDING, SunsetClaus, Ruwet Immobilier
since 2019 · until 2030
Director · represented by Julien Bonnivert
since 2019 · until 2026
Michel Grignard
Director
Also active at: Cobevri, EDICOVER, VEDIA, A.I.M., Belgomania, SOGINVEST, ORLANDIA, LUCIMO +9 more
since 2019 · until 2030
Héloïse Bontoux
Director
Also active at: LUCIMO, MARNIX 21-22, MARNIX 20, SunsetClaus, Ruwet Immobilier
since 2026 · until 2032
Establishments
Establishment units
Physical locations of this company
Louizalaan 222 box 11
1050 Brussel
Chemin des Cloutiers 3 box 11
4130 Esneux
Active since 11 June 2019
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 49 companies are registered at this address.
All companies at this address →SPHERE BELGIUM
€ 207,431 gross margin · 2025
WIMBO GESTION
€ 13,021 gross margin · 2024
ULTIMMO
€ -10,739 gross margin · 2024
B & S Associates
JEAN - PAUL HORDIES
+44 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
- 0727.904.331
- VAT number
- BE 0727.904.331
- Registered office
- Louizalaan 222 bus 11, 1050 Brussel
- Names & denominations
- HJO Real Estate
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 11 June 2019
- Peppol
- Active · Active since 28 Oct 2025
- Activities · NACE
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