Financials
Financial year 2025
JUST RUSSEL from Gent, company number BE0735411735, closed financial year 2025 with a result of € 1.6 million after tax. For that financial year JUST RUSSEL recorded a gross margin of € 7.9 million and equity of € 13.3 million. Compared with financial year 2024, the result moved from € 28,233 to € 1.6 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 1, 2026.
€ 13.3 million
▲ € 11.6 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.6 million
▲ € 1.6 million vs 2024
Profit after tax over the fiscal year.
€ 3.9 million
▲ € 3.8 million vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 2.7 million.
People and assets in 2025
72.4
▲ 25 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3.6 million
▲ 71% vs 2024
€ 49,600 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.
€ 118,650
▲ 94% vs 2024
Of which on lease € 3,568.
Debts at end 2025
€ 364,945
▼ 48% vs 2024
€ 207,740 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 3.6 million
▲ 54% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 1.5 million
▲ 35% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 599,108 | € 2,169,931 | € 3,710,035 | € 7,876,107 | ▲ 112% |
| Profit after taxes | € 131,820 | € 971,653 | € 28,233 | € 1,581,473 | ▲ € 1.6 million |
| Equity | € 706,216 | € 1,677,869 | € 1,706,101 | € 13,287,699 | ▲ € 11.6 million |
| Total debts | € 1,143,223 | € 2,993,893 | € 4,239,913 | € 5,560,486 | ▲ 31% |
| Cash | € 561,748 | € 829,829 | € 87,530 | € 3,850,251 | ▲ € 3.8 million |
| Retained profit | € 136,216 | € 1,107,869 | € 1,136,101 | € 2,717,574 | ▲ 139% |
| Bank debt | € 478,658 | € 878,192 | € 706,689 | € 364,945 | ▼ 48% |
| Balance sheet total | € 1,849,439 | € 4,671,762 | € 5,946,014 | € 18,848,185 | ▲ 217% |
| Employees (FTE) | - | 19.4 | 47.4 | 72.4 | ▲ 25 |
Key figures of JUST RUSSEL, 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 JUST RUSSEL?
What happened at JUST RUSSEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 1.6 million (▲ € 1.6 million vs 2024). Source: NBB ↗
- Vito Magnus Karnehm became a director. NBB
- Jason Fiedler stepped down as director. NBB
- Starship 01 BV became a director. NBB
- Jason Fiedler became a director. NBB
- HV Capital Management BV became a director. NBB
- VM Management Consulting BV became a director. NBB
- RW Solutions BV became a director. NBB
In short
From € 131,820 profit in 2022 to € 1.6 million profit in 2025.
Paid € 243,102 in corporate taxes since 2022.
Best year ever: 2025, with € 1.6 million profit.
On average € 108,800 of value added per employee in 2025.
Management
Behind JUST RUSSEL are VM Management Consulting BV, Vito Magnus Karnehm, HV Capital Management BV, Starship 01 BV, Molinarius GMBH and RW Solutions BV. HV Capital Management BV is also behind DAMIER, Vision HC, DAMIER CARE SPV, CARE INVESTCO and TOCG.
Directors
According to the 2025 annual accounts
Director · represented by Victor Mortreu
since 2024
Vito Magnus Karnehm
Director
since 2026
Director · represented by Henri Vindevogel
Also active at: DAMIER, Vision HC, DAMIER CARE SPV, CARE INVESTCO, TOCG, CU BRANDS, Brands Partners SPV, Damier Brands +3 more
since 2024
Statutory director · represented by Louis Mortreu
since 2025
since 2022
Director · represented by Renaat Waeles
since 2024
Jason Fiedler
Director
since 2025 · until 2026
Establishments
Establishment units
Physical locations of this company
Baarledorpstraat 95
9031 Gent
Baarledorpstraat 95 box .
9031 Gent
Active since 30 September 2019
Damstraat 46
9850 Deinze
Active since 1 January 2024
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Google Workspace
Hosting
GOOGLE-CLOUD-PLATFORM - Google LLC, US
DNS
Google Cloud DNS
Domain
Domain
justrussel.com
Registered
2019-09-02
Registrar
GoDaddy.com, LLC
Expires
2029-09-02
Website info
Features
Security
Details
- Company number
- 0735.411.735
- VAT number
- BE 0735.411.735
- Registered office
- Baarledorpstraat 95, 9031 Gent
- Names & denominations
- JUST RUSSEL
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 September 2019
- Peppol
- Active · Active since 13 May 2026
- Contact
- justrussel.com
- Activities · NACE
Detailhandel in huisdieren, voer voor huisdieren en benodigdheden daarvoor