Checked.be
Active
BE 0442.165.194Private limited company
JAFA
Rue du Héaume 11 ·7180 Seneffe, Belgium· 35 yrs active
Sector: Wholesale trade
(46214)
Conclusion
JAFA has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.38M and a net result of €-248k. Equity is growing by ~36.3% per year across the filed fiscal years. Its solvency ranks better than 41% of 10963 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Based on the State Gazette, CBE and 6 annual accounts.
Key figures
| Equity | €1.38M |
| Net result | €-248k |
| Better than sector | 41% |
| Active | 35 yrs |
Financial profile
56
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
60
Profitability
0
Solvency
70
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1990, 35 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
60
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€85k
estimate, not credit advice
Score history
73
2020
68
2021
86
2022
91
2023
94
2024
60
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 3.35 (≥ 1.5)
+10
Quick ratio
Quick ratio 3.27 (≥ 1.0)
+5
Profitability
Negatieve ROE -18%
-10
Interest coverage
Interest coverage 8.0× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 05-01-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~36.3%/year over 6 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 46, Wholesale trade · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 30.1% | 42.5% | |
| Net result | €-248k | €6k | |
| Equity | €1.38M | €60k | |
| Gross operating margin | €91k | €29k | |
| Staff costs | €115 | €37k |
€86k
-93.1%
20-25
€-248k
-
20-25
€94k
-90.2%
20-25
€4.60M
-0.7%
20-25
€1.38M
-15.4%
20-25
€1.17M
+74.3%
20-25
€115
-
20-25
€202k
+2120.9%
20-25
€3.07M
+8.4%
20-25
€497k
-61.0%
20-25
€2.57M
+65.2%
20-25
3.35
+119.5%
20-25
3.27
+119.9%
20-25
30.1%
-14.8%
20-25
2.22
+28.1%
20-25
-17.9%
-
20-25
-5.4%
-
20-25
7.99
-93.1%
20-25
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
| Fiscal year | 2025 Δ | 2024 Δ | 2023 Δ | 2022 Δ | 2021 Δ |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | full schema |
| Revenue | - | - | - | - | - |
| EBITDA | -93.1% | +229.2% | +42.1% | +325.2% | - |
| Net profit | - | +179.0% | +44.3% | +46.8% | - |
| Cash flow | -90.2% | +165.1% | +49.6% | +28.3% | - |
| Staff costs | - | - | - | - | - |
| Income taxes | - | +2120.9% | -72.0% | - | - |
| Dividends | - | - | - | - | - |
| Total assets | -0.7% | +38.1% | +78.6% | +39.7% | - |
| Equity | -15.4% | +74.4% | +88.1% | +46.3% | - |
| Debt | +8.4% | +24.8% | +77.1% | +42.7% | - |
| of which ≤ 1y | -61.0% | +85.2% | -8.4% | +86.1% | - |
| of which > 1y | +65.2% | -1.6% | +197.8% | +8.2% | - |
| Working capital | +74.3% | -1.6% | +137.7% | +889.3% | - |
| Employees (FTE) | - | - | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (micro schema, full schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 3.35 | 1.53 | 1.99 | 1.38 | 1.07 |
| Quick ratio | 3.27 | 1.49 | 1.98 | 1.38 | 0.32 |
| Working capital ratio | 25.4% | 14.5% | 20.4% | 15.3% | 2.2% |
| Solvency | 30.1% | 35.3% | 28.0% | 26.6% | 25.4% |
| Debt / equity | 2.22 | 1.73 | 2.42 | 2.57 | 1.44 |
| Long-term debt ratio | 1.86 | 0.95 | 1.69 | 1.06 | 1.44 |
| Interest coverage | 7.99 | 115.36 | 55.12 | 78.93 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -5.4% | 13.7% | 6.8% | 8.4% | 8.0% |
| ROE | -17.9% | 38.9% | 24.3% | 31.7% | 31.6% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €4.60M | €4.63M | €3.35M | €1.87M | €1.34M |
| Fixed assets | 21/28 | €2.93M | €2.68M | €1.98M | €837k | €910k |
| Tangible fixed assets | 22/27 | €2.93M | €2.68M | €1.98M | €837k | €910k |
| Current assets | 29/58 | €1.67M | €1.94M | €1.37M | €1.04M | €432k |
| Stocks & contracts in progress | 3 | €41k | €51k | €8k | - | €301k |
| Amounts receivable within one year | 40/41 | €1.35M | €1.44M | €313k | €967k | €37k |
| Cash & bank | 54/58 | €258k | €446k | €1.04M | €70k | €94k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €4.60M | €4.63M | €3.35M | €1.87M | €1.34M |
| Equity | 10/15 | €1.38M | €1.63M | €937k | €498k | €340k |
| Contributions / capital | 10/11 | €14k | €14k | €14k | €6k | €6k |
| Reserves | 13 | €376k | €421k | €361k | €210k | €227k |
| Accumulated profits (losses) | 14 | €982k | €1.18M | €542k | €282k | €107k |
| Provisions & deferred taxes | 16 | €140k | €158k | €141k | €94k | €103k |
| Amounts payable | 17/49 | €3.07M | €2.83M | €2.27M | €1.28M | €899k |
| Amounts payable after one year | 17 | €2.57M | €1.55M | €1.58M | €530k | €490k |
| Amounts payable within one year | 42/48 | €497k | €1.27M | €688k | €750k | €403k |
| Trade debts payable within one year | 44 | €311k | €945k | €558k | €665k | €364k |
| Income statement | ||||||
| Gross operating margin | 9900 | €91k | €1.26M | €404k | €273k | €65k |
| Operating result | 9901 | €-255k | €932k | €248k | €185k | €-17k |
| Financial income | 75 | - | €0 | €2k | - | - |
| Financial charges | 65 | €11k | €11k | €7k | €3k | €3k |
| Result before taxes | 9903 | €-266k | €921k | €242k | €181k | €-21k |
| Income taxes | 67/77 | - | €202k | €9k | €33k | - |
| Net result for the period | 9904 | €-248k | €635k | €228k | €158k | €-12k |
| Result to be appropriated | 9905 | €-202k | €642k | €245k | €175k | €5k |
Legal Structure
| NACE primary | Wholesale trade(46214) |
| Legal form | Private limited company(610) |
| Incorporation | 08-10-1990 |
| Status | Active |
| Postal code | 7180 |
Establishment units
JAFA
since 19902.049.819.440
Real-estate footprint
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52063C0376/00C000 | Wallonia | 2.4 ha | - | - |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
05-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Weakest financial yearnet €-248k ▼139%
Net result drops to €-248k, the lowest in the series.
30-06
Financial
Liquidity doublescurrent ratio 3.35
Current ratio from 1.53 to 3.35; short-term debt falls from €1.27M to €497k.
23-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Highest result since 2020net €635k ▲179%
Operating result €932k, net result €635k, both a record.
30-06
Financial
Equity above €1MEq €1.63M ▲74.4%
5 profitable years in a row build equity to €1.63M.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Equity above €500kEq €937k ▲88.1%
4 profitable years in a row build equity to €937k.
27-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
16-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
21-12
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
07-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Wholesale trade46214Support activities for crop production01610Manufacture of food products10311Repair and maintenance of machinery33120Warehousing and storage52100
Names & trade names
| Legal nameFR | JAFA |
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