J-Tech services
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 03-07-2026 at the NBB all 9 filings
Turnover
≈ €87,000
Estimated: probably between €57,000 and €180,000
Total assets
€64,937▲ 13.5%
2024 · €57,194
Net result
€3,989
2024 · -€8,127
Working capital
€18,944▲ 21.0%
2024 · €15,656
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€5,720
2025
20182025
Net result
€3,989
2025
middle half of the sector
20182025
Equity
€28,935
▲ 16.0%
2025
middle half of the sector
20182025
Total assets
€64,937
▲ 13.5%
2025
lowest quarter of the sector
20182025
Debt
€36,002
▲ 11.6%
2025
20182025
Working capital
€18,944
▲ 21.0%
2025
middle half of the sector
20182025
Solvency
44.6%
▲ 0.9pp
2025
middle half of the sector
20182025
Current ratio
1.53
▲ 0.01
2025
middle half of the sector
20182025
Return on assets (ROA)
6.1%
▲ 20.4pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€1,923--€10,417-€3,626▲ 65.2%-€5,550▼ 53.1%€19,192€22,882▲ 19.2%-€7,326€5,720
Net result-€315--€11,696▼ 3,612%-€5,560below the sector's middle half▲ 52.5%-€6,573below the sector's middle half▼ 18.2%€15,609within the sector's middle half€16,391within the sector's middle half▲ 5.0%-€8,127below the sector's middle half€3,989within the sector's middle half
Equity€12,501-€805▼ 93.6%-€4,755below the sector's middle half-€11,327below the sector's middle half▼ 138%€16,682below the sector's middle half€33,074within the sector's middle half▲ 98.3%€24,947within the sector's middle half▼ 24.6%€28,935within the sector's middle half▲ 16.0%
Total assets€63,429-€37,411▼ 41.0%€48,494below the sector's middle half▲ 29.6%€12,348below the sector's middle half▼ 74.5%€42,185below the sector's middle half▲ 242%€53,197below the sector's middle half▲ 26.1%€57,194below the sector's middle half▲ 7.5%€64,937below the sector's middle half▲ 13.5%
Debt€50,928-€36,606▼ 28.1%€53,249▲ 45.5%€23,675▼ 55.5%€25,502▲ 7.7%€20,124▼ 21.1%€32,247▲ 60.2%€36,002▲ 11.6%
Working capital€3,643--€6,986€289below the sector's middle half-€17,025below the sector's middle half€13,674within the sector's middle half€17,191within the sector's middle half▲ 25.7%€15,656within the sector's middle half▼ 8.9%€18,944within the sector's middle half▲ 21.0%
Solvency19.7%-2.2%▼ 17.6pp-9.8%below the sector's middle half▼ 12.0pp-91.7%below the sector's middle half▼ 81.9pp39.5%within the sector's middle half▲ 131.3pp62.2%within the sector's middle half▲ 22.6pp43.6%within the sector's middle half▼ 18.6pp44.6%within the sector's middle half▲ 0.9pp
Current ratio1.16-0.66▼ 0.511.01below the sector's middle half▲ 0.350.28below the sector's middle half▼ 0.731.83within the sector's middle half▲ 1.552.06within the sector's middle half▲ 0.241.52within the sector's middle half▼ 0.551.53within the sector's middle half▲ 0.01
Return on assets (ROA)-0.5%--31.3%▼ 30.8pp-11.5%below the sector's middle half▲ 19.8pp-53.2%below the sector's middle half▼ 41.8pp37.0%above the sector's middle half▲ 90.2pp30.8%above the sector's middle half▼ 6.2pp-14.2%below the sector's middle half▼ 45.0pp6.1%within the sector's middle half▲ 20.4pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 a profit of €5,720, after a loss of €7,326 in 2024.
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 €64,937
Fixed assets
€9,991 ▼ 11.8%
Current assets
€54,946 ▲ 19.8%
Equity and liabilities €64,937
Equity
€28,935 ▲ 16.0%
Debt
€36,002 ▲ 11.6%
Debt's share of the balance-sheet total falls from 56.4% to 55.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€9,809▲
2024 · -€2,817
Cash flow
€8,077▲
2024 · -€3,618
Debt to equity
1.24▼
2024 · 1.29
ROE
13.8%▲
2024 · -32.6%
Interest coverage
14.07▲
2024 · -4.00
Debt ≤ 1 year
€36,002▲
2024 · €30,215
Income taxes
€1,074▲
2024 · €143
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 | €4,081 | €9,089 | €19,010 | €424 | €2,757 |
| Financial fixed assets | - | - | €300 | €300 | - |
| Depreciation and write-downs of the year | €4,321 | €2,780 | €6,016 | €4,509 | €4,089 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,210 | €13,210 | €3,722 | €4,321 | €2,780 | €6,016 | €4,509 | €4,089 | ▼ 9.3% |
| Other operating charges640/8 | - | - | - | €530 | €560 | €703 | €3,877 | €771 | ▼ 80.1% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €538 | - | - |
| Gross operating margin9900 | €16,094 | €3,760 | €406 | -€699 | €22,533 | €29,602 | €1,598 | €10,580 | ▲ 562% |
| Operating profit (loss)9901 | €1,923 | -€10,417 | -€3,626 | -€5,550 | €19,192 | €22,882 | -€7,326 | €5,720 | - |
| Financial income75/76B | - | - | - | €32 | €1 | €24 | €46 | €40 | ▼ 13.4% |
| Recurring financial income75 | €105 | €0 | €15 | €32 | €1 | €24 | €46 | €40 | ▼ 13.4% |
| Financial charges65/66B | - | - | - | €936 | €1,378 | €840 | €704 | €697 | ▼ 1.0% |
| Recurring financial charges65 | €794 | €1,032 | €1,712 | €936 | €1,378 | €840 | €704 | €697 | ▼ 1.0% |
| Profit (loss) for the period before taxes9903 | €1,235 | -€11,449 | -€5,324 | -€6,454 | €17,815 | €22,066 | -€7,984 | €5,062 | - |
| Income taxes67/77 | €1,550 | €247 | €236 | €119 | €2,206 | €5,675 | €143 | €1,074 | ▲ 653% |
| Profit (loss) for the period9904 | -€315 | -€11,696 | -€5,560 | -€6,573 | €15,609 | €16,391 | -€8,127 | €3,989 | - |
| Profit (loss) for the period to be appropriated9905 | -€315 | -€11,696 | -€5,560 | -€6,573 | €15,609 | €16,391 | -€8,127 | €3,989 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €63,429 | €37,411 | €48,494 | €12,348 | €42,185 | €53,197 | €57,194 | €64,937 | ▲ 13.5% |
| Fixed assets21/28 | €37,277 | €24,066 | €5,938 | €5,698 | €12,006 | €19,861 | €11,323 | €9,991 | ▼ 11.8% |
| Tangible fixed assets22/27 | €37,277 | €24,066 | €5,938 | €5,698 | €12,006 | €19,561 | €10,723 | €9,391 | ▼ 12.4% |
| Plant, machinery and equipment23 | - | - | - | €2,383 | €2,957 | €4,911 | €3,884 | €5,025 | ▲ 29.4% |
| Furniture and vehicles24 | - | - | - | €3,315 | €9,049 | €14,650 | €6,839 | €4,366 | ▼ 36.2% |
| Financial fixed assets28 | - | - | - | - | - | €300 | €600 | €600 | = |
| Current assets29/58 | €26,153 | €13,345 | €42,556 | €6,650 | €30,179 | €33,337 | €45,871 | €54,946 | ▲ 19.8% |
| Amounts receivable within one year40/41 | €18,509 | €11,326 | €27,017 | €6,490 | €10,187 | €22,135 | €43,209 | €52,212 | ▲ 20.8% |
| Trade receivables40 | - | - | - | €3,734 | €7,386 | €3,686 | €25,408 | €24,952 | ▼ 1.8% |
| Other amounts receivable41 | - | - | - | €2,756 | €2,801 | €18,449 | €17,801 | €27,260 | ▲ 53.1% |
| Cash at bank and in hand54/58 | €5,020 | €1,970 | €10,173 | €111 | €19,942 | €9,546 | - | €2,477 | - |
| Deferred charges and accrued income490/1 | - | - | - | €48 | €50 | €1,655 | €2,662 | €257 | ▼ 90.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €63,429 | €37,411 | €48,494 | €12,348 | €42,185 | €53,197 | €57,194 | €64,937 | ▲ 13.5% |
| Equity10/15 | €12,501 | €805 | -€4,755 | -€11,327 | €16,682 | €33,074 | €24,947 | €28,935 | ▲ 16.0% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €18,931 | €18,931 | €18,931 | €18,931 | = |
| Capital10 | - | - | - | €6,200 | - | - | - | - | - |
| Issued capital100 | - | - | - | €18,550 | - | - | - | - | - |
| Uncalled capital101 | - | - | - | €12,350 | - | - | - | - | - |
| Reserves13 | €331 | €331 | €331 | €331 | - | - | - | - | - |
| Non-distributable reserves130/1 | - | - | - | €331 | - | - | - | - | - |
| Legal reserve130 | - | - | - | €331 | - | - | - | - | - |
| Profit (loss) carried forward14 | €5,971 | -€5,725 | -€11,285 | -€17,858 | -€2,249 | €14,143 | €6,016 | €10,004 | ▲ 66.3% |
| Amounts payable17/49 | €50,928 | €36,606 | €53,249 | €23,675 | €25,502 | €20,124 | €32,247 | €36,002 | ▲ 11.6% |
| Amounts payable after more than one year17 | €28,418 | €16,275 | €10,981 | - | €8,998 | €3,978 | €2,032 | - | - |
| Financial debts170/4 | - | - | - | - | €8,998 | €3,978 | €2,032 | - | - |
| Amounts payable within one year42/48 | €22,510 | €20,331 | €42,268 | €23,675 | €16,505 | €16,146 | €30,215 | €36,002 | ▲ 19.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €10,981 | €5,088 | €5,020 | €1,946 | €2,032 | ▲ 4.4% |
| Financial debts43 | - | - | - | €4,235 | - | - | €5,306 | - | - |
| Credit institutions430/8 | - | - | - | €4,235 | - | - | €5,306 | - | - |
| Trade debts44 | €3,614 | €6,378 | €22,979 | €2,465 | €6,135 | €6,458 | €16,207 | €23,750 | ▲ 46.5% |
| Suppliers440/4 | - | - | - | €2,465 | €6,135 | €6,458 | €16,207 | €23,750 | ▲ 46.5% |
| Taxes, remuneration and social security45 | - | - | - | €1,767 | €2,324 | €4,668 | €6,756 | €10,219 | ▲ 51.3% |
| Taxes450/3 | - | - | - | €362 | €2,324 | €4,383 | €3,992 | €1,219 | ▼ 69.5% |
| Remuneration and social security454/9 | - | - | - | €1,405 | - | €285 | €2,764 | €9,001 | ▲ 226% |
| Other amounts payable47/48 | - | - | - | €4,226 | €2,956 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€315 | -€11,696 | -€5,560 | -€6,573 | €15,609 | €16,391 | -€8,127 | €3,989 | - |
| + Depreciation and write-downs630 | €13,210 | €13,210 | €3,722 | €4,321 | €2,780 | €6,016 | €4,509 | €4,089 | ▼ 9.3% |
| Operating cash flow (approximation) | €12,895 | €1,514 | -€1,838 | -€2,252 | €18,390 | €22,408 | -€3,618 | €8,077 | - |
| Investment in fixed assets (approximation) | - | €0 | €14,407 | -€4,081 | -€9,089 | -€13,871 | €4,029 | -€2,757 | - |
| Change in cash | - | -€3,050 | €8,203 | -€10,061 | €19,831 | -€10,396 | - | - | - |
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, 26,972 companies had the same profile as J-Tech services has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of J-Tech services itself: 0.8% within 12 months.
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 26,972 companies, not a prediction for J-Tech services. 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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 03-07-2026 | 2026-00245974 | |
| 31-12-2024 | micro format | 08-08-2025 | 2025-00376010 | |
| 31-12-2023 | micro format | 01-08-2024 | 2024-00336604 | |
| 31-12-2022 | micro format | 27-07-2023 | 2023-00278461 | |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20119011 | |
| 31-12-2020 | micro format | 16-08-2021 | 2021-48800142 | |
| 31-12-2019 | micro format | 11-10-2020 | 2020-61200588 | |
| 31-12-2018 | micro format | 28-08-2019 | 2019-58500512 | |
| 31-12-2017 | micro format | 10-08-2018 | 2018-46100519 |