JAECQUES
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 43 filings
Turnover
≈ €640,000
Estimated: probably between €450,000 and €990,000
Total assets
€219,952▲ 16.2%
2024 · €189,287
Net result
€38,343▼ 10.5%
2024 · €42,846
Working capital
€129,722▼ 12.5%
2024 · €148,324
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€51,255
▼ 12.6%
2025
20182025
Net result
€38,343
▼ 10.5%
2025
highest quarter of the sector
20182025
Equity
€194,066
▲ 24.6%
2025
highest quarter of the sector
20182025
Total assets
€219,952
▲ 16.2%
2025
middle half of the sector
20182025
Debt
€23,840
▼ 29.0%
2025
20182025
Working capital
€129,722
▼ 12.5%
2025
highest quarter of the sector
20182025
Solvency
88.2%
▲ 6.0pp
2025
highest quarter of the sector
20182025
Current ratio
6.44
▲ 1.02
2025
highest quarter of the sector
20182025
Return on assets (ROA)
17.4%
▼ 5.2pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€15,263-€7,771▼ 49.1%€41,617▲ 436%€36,069▼ 13.3%€25,212▼ 30.1%€45,137▲ 79.0%€58,637▲ 29.9%€51,255▼ 12.6%
Net result€10,870-€5,427▼ 50.1%€29,167above the sector's middle half▲ 437%€26,033above the sector's middle half▼ 10.7%€18,586within the sector's middle half▼ 28.6%€32,710above the sector's middle half▲ 76.0%€42,846above the sector's middle half▲ 31.0%€38,343above the sector's middle half▼ 10.5%
Equity€64,705-€70,133▲ 8.4%€74,421within the sector's middle half▲ 6.1%€97,330within the sector's middle half▲ 30.8%€97,524within the sector's middle half▲ 0.2%€118,834above the sector's middle half▲ 21.9%€155,724above the sector's middle half▲ 31.0%€194,066above the sector's middle half▲ 24.6%
Total assets€126,220-€85,665▼ 32.1%€132,525within the sector's middle half▲ 54.7%€134,100within the sector's middle half▲ 1.2%€138,995within the sector's middle half▲ 3.7%€150,248within the sector's middle half▲ 8.1%€189,287within the sector's middle half▲ 26.0%€219,952within the sector's middle half▲ 16.2%
Debt€61,118-€15,268▼ 75.0%€57,972▲ 280%€36,770▼ 36.6%€41,472▲ 12.8%€31,414▼ 24.3%€33,563▲ 6.8%€23,840▼ 29.0%
Working capital€34,317-€49,076▲ 43.0%€57,484within the sector's middle half▲ 17.1%€90,536above the sector's middle half▲ 57.5%€90,174above the sector's middle half▼ 0.4%€108,885above the sector's middle half▲ 20.8%€148,324above the sector's middle half▲ 36.2%€129,722above the sector's middle half▼ 12.5%
Solvency51.3%-81.9%▲ 30.6pp56.2%within the sector's middle half▼ 25.7pp72.6%above the sector's middle half▲ 16.4pp70.2%above the sector's middle half▼ 2.4pp79.1%above the sector's middle half▲ 8.9pp82.3%above the sector's middle half▲ 3.2pp88.2%above the sector's middle half▲ 6.0pp
Current ratio1.56-4.21▲ 2.651.99within the sector's middle half▼ 2.223.46above the sector's middle half▲ 1.473.17above the sector's middle half▼ 0.294.47above the sector's middle half▲ 1.295.42above the sector's middle half▲ 0.956.44above the sector's middle half▲ 1.02
Return on assets (ROA)8.6%-6.3%▼ 2.3pp22.0%above the sector's middle half▲ 15.7pp19.4%above the sector's middle half▼ 2.6pp13.4%above the sector's middle half▼ 6.0pp21.8%above the sector's middle half▲ 8.4pp22.6%above the sector's middle half▲ 0.9pp17.4%above the sector's middle half▼ 5.2pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 13% lower than 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 €219,952
Fixed assets
€66,390 ▲ 797%
Current assets
€153,562 ▼ 15.6%
Equity and liabilities €219,952
Equity
€194,066 ▲ 24.6%
Provisions
€2,046
Debt
€23,840 ▼ 29.0%
Debt's share of the balance-sheet total falls from 17.7% to 10.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€58,856▼
2024 · €61,187
Cash flow
€45,944▲
2024 · €45,395
Quick ratio
6.24▲
2024 · 5.29
Debt to equity
0.12▼
2024 · 0.22
ROE
19.8%▼
2024 · 27.5%
Interest coverage
97.79▼
2024 · over 100
Debt ≤ 1 year
€23,840▼
2024 · €33,563
Income taxes
€13,242▼
2024 · €16,546
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 | - | €5,047 | €4,883 | - | €66,627 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €10,275 | €4,492 | €2,283 | €2,550 | €7,601 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €11,000 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,715 | €9,464 | €9,512 | €10,275 | €4,492 | €2,283 | €2,550 | €7,601 | ▲ 198% |
| Other operating charges640/8 | - | - | - | €668 | €609 | €709 | €696 | €1,326 | ▲ 90.6% |
| Gross operating margin9900 | €25,603 | €17,821 | €51,725 | €47,012 | €30,313 | €48,130 | €61,883 | €60,181 | ▼ 2.7% |
| Operating profit (loss)9901 | €15,263 | €7,771 | €41,617 | €36,069 | €25,212 | €45,137 | €58,637 | €51,255 | ▼ 12.6% |
| Financial income75/76B | - | - | - | €803 | €708 | €550 | €1,311 | €2,978 | ▲ 127% |
| Recurring financial income75 | €81 | €1,098 | €2,779 | €803 | €708 | €550 | €1,311 | €2,978 | ▲ 127% |
| Financial charges65/66B | - | - | - | €215 | €224 | €274 | €556 | €602 | ▲ 8.2% |
| Recurring financial charges65 | €140 | €101 | €114 | €215 | €224 | €274 | €556 | €602 | ▲ 8.2% |
| Profit (loss) for the period before taxes9903 | €15,204 | €8,768 | €44,282 | €36,658 | €25,696 | €45,414 | €59,392 | €53,630 | ▼ 9.7% |
| Transfer from deferred taxes780 | - | - | - | €132 | - | - | - | €154 | - |
| Transfer to deferred taxes680 | - | - | - | - | - | - | - | €2,200 | - |
| Income taxes67/77 | €4,466 | €3,473 | €15,247 | €10,758 | €7,110 | €12,704 | €16,546 | €13,242 | ▼ 20.0% |
| Profit (loss) for the period9904 | €10,870 | €5,427 | €29,167 | €26,033 | €18,586 | €32,710 | €42,846 | €38,343 | ▼ 10.5% |
| Transfer from tax-exempt reserves789 | - | - | - | €529 | - | - | - | €617 | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | - | €8,800 | - |
| Profit (loss) for the period to be appropriated9905 | €11,399 | €5,956 | €29,696 | €26,561 | €18,586 | €32,710 | €42,846 | €30,160 | ▼ 29.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €126,220 | €85,665 | €132,525 | €134,100 | €138,995 | €150,248 | €189,287 | €219,952 | ▲ 16.2% |
| Fixed assets21/28 | €30,785 | €21,321 | €17,070 | €6,795 | €7,350 | €9,949 | €7,399 | €66,390 | ▲ 797% |
| Tangible fixed assets22/27 | €30,750 | €21,286 | €17,035 | €6,760 | €7,315 | €9,915 | €7,365 | €66,390 | ▲ 801% |
| Plant, machinery and equipment23 | - | - | - | €6,423 | €7,223 | €9,915 | €7,365 | €5,104 | ▼ 30.7% |
| Furniture and vehicles24 | - | - | - | €337 | €92 | - | - | €61,286 | - |
| Financial fixed assets28 | €35 | €35 | €35 | €35 | €35 | €35 | €35 | €0 | ▼ 100% |
| Current assets29/58 | €95,435 | €64,344 | €115,456 | €127,305 | €131,645 | €140,299 | €181,887 | €153,562 | ▼ 15.6% |
| Amounts receivable after more than one year29 | - | - | - | €22,000 | €12,500 | €12,500 | €12,500 | €0 | ▼ 100% |
| Other amounts receivable291 | - | - | - | €22,000 | €12,500 | €12,500 | €12,500 | €0 | ▼ 100% |
| Stocks and contracts in progress3 | €2,852 | €2,855 | €2,733 | €2,520 | €3,947 | €3,221 | €4,443 | €4,711 | ▲ 6.0% |
| Stocks30/36 | - | - | - | €2,520 | €3,947 | €3,221 | €4,443 | €4,711 | ▲ 6.0% |
| Amounts receivable within one year40/41 | €611 | €9,920 | €4,042 | €1,497 | €728 | €6,139 | €8,484 | €22,441 | ▲ 165% |
| Trade receivables40 | - | - | - | - | - | €822 | €2,276 | €310 | ▼ 86.4% |
| Other amounts receivable41 | - | - | - | €1,497 | €728 | €5,317 | €6,208 | €22,131 | ▲ 256% |
| Current investments50/53 | - | - | - | - | - | - | €50,000 | €50,000 | = |
| Cash at bank and in hand54/58 | €91,867 | €28,570 | €48,840 | €94,339 | €104,472 | €107,971 | €96,917 | €68,545 | ▼ 29.3% |
| Deferred charges and accrued income490/1 | - | - | - | €6,950 | €9,997 | €10,468 | €9,544 | €7,864 | ▼ 17.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €126,220 | €85,665 | €132,525 | €134,100 | €138,995 | €150,248 | €189,287 | €219,952 | ▲ 16.2% |
| Equity10/15 | €64,705 | €70,133 | €74,421 | €97,330 | €97,524 | €118,834 | €155,724 | €194,066 | ▲ 24.6% |
| Contributions10/11 | €9,668 | €9,668 | - | €9,668 | €100 | €100 | €100 | €100 | = |
| Reserves13 | €55,037 | €60,465 | €64,753 | €87,662 | €97,424 | €118,734 | €155,624 | €193,966 | ▲ 24.6% |
| Non-distributable reserves130/1 | - | - | - | €2,206 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,206 | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €5,225 | €5,225 | €5,225 | €5,225 | €13,408 | ▲ 157% |
| Distributable reserves133 | - | - | - | €80,232 | €92,199 | €113,510 | €150,399 | €180,559 | ▲ 20.1% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | - | €0 | - |
| Provisions and deferred taxes16 | €397 | €264 | €132 | - | - | - | - | €2,046 | - |
| Deferred taxes168 | - | - | - | - | - | - | - | €2,046 | - |
| Amounts payable17/49 | €61,118 | €15,268 | €57,972 | €36,770 | €41,472 | €31,414 | €33,563 | €23,840 | ▼ 29.0% |
| Amounts payable within one year42/48 | €61,118 | €15,268 | €57,972 | €36,770 | €41,472 | €31,414 | €33,563 | €23,840 | ▼ 29.0% |
| Trade debts44 | €15,511 | €14,570 | €22,028 | €19,384 | €25,183 | €16,662 | €21,981 | €19,159 | ▼ 12.8% |
| Suppliers440/4 | - | - | - | €19,384 | €25,183 | €16,662 | €21,981 | €19,159 | ▼ 12.8% |
| Taxes, remuneration and social security45 | - | - | - | €14,262 | €6,999 | €3,353 | €5,626 | €4,682 | ▼ 16.8% |
| Taxes450/3 | - | - | - | €14,262 | €6,999 | €3,353 | €5,626 | €4,682 | ▼ 16.8% |
| Other amounts payable47/48 | - | - | - | €3,123 | €9,290 | €11,399 | €5,956 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,870 | €5,427 | €29,167 | €26,033 | €18,586 | €32,710 | €42,846 | €38,343 | ▼ 10.5% |
| + Depreciation and write-downs630 | €9,715 | €9,464 | €9,512 | €10,275 | €4,492 | €2,283 | €2,550 | €7,601 | ▲ 198% |
| Operating cash flow (approximation) | €20,586 | €14,892 | €38,679 | €36,308 | €23,078 | €34,993 | €45,395 | €45,944 | ▲ 1.2% |
| Investment in fixed assets (approximation) | - | €0 | -€5,261 | €0 | -€5,047 | -€4,883 | €0 | -€66,592 | - |
| Change in cash | - | -€63,297 | €20,270 | €45,499 | €10,134 | €3,498 | -€11,054 | -€28,371 | ▼ 157% |
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, 31,368 companies had the same profile as JAECQUES has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of JAECQUES itself: < 0.1% 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 31,368 companies, not a prediction for JAECQUES. 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.
Latest 10 of 43 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00266591 | |
| 31-12-2024 | micro format | 22-07-2025 | 2025-00292785 | |
| 31-12-2023 | micro format | 01-07-2024 | 2024-00187588 | |
| 31-12-2022 | micro format | 25-07-2023 | 2023-00265019 | |
| 31-12-2021 | micro format | 21-06-2022 | 2022-20075650 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-62300213 | |
| 31-12-2019 | micro format | 28-08-2020 | 2020-48300569 | |
| 31-12-2018 | micro format | 02-09-2019 | 2019-62500029 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-58500312 | |
| 31-12-2016 | micro format | 17-07-2017 | 2017-32200031 |