JAM & RY
ActiveSummary
JAM & RY has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60k and a net result of €9k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 60% of 39 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▼-22
Solvency77▲+13
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity tight (current ratio 1.38 against 1.06 in 2024; short-term debt: 47.7% and cash: 4% of total assets), and 47.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 17
Relative position
BE, all sectors
reference
Manufacture of paper and paper products (NACE 17)
about 49% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
52.3%
Return on assets
7.7%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €60k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
28 d late
2023
33 d early
2022
4 d early
2021
26 d late
2020
116 d late
2019
98 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€60k▲ 17.3%
2024 · €51k
Total assets
€114k▼ 13.3%
2024 · €132k
Net result
€9k▼ 76.8%
2024 · €38k
Working capital
€21k▲ 346%
2024 · €5k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€-4k▲ 91.4%€-3k▲ 24.3%€6k€43k▲ 607%€11k▼ 73.8%
Net result€-7k▲ 85.5%€-5k▲ 25.4%€4k€38k▲ 916%€9k▼ 76.8%
Equity€14k▼ 31.9%€9k▼ 35.0%€13k▲ 41.0%€51k▲ 295%€60k▲ 17.3%
Total assets€188k▼ 3.1%€145k▼ 22.5%€128k▼ 12.0%€132k▲ 2.8%€114k▼ 13.3%
Debt€174k▲ 0.3%€136k▼ 21.5%€115k▼ 15.5%€81k▼ 29.9%€54k▼ 32.6%
Working capital€-36k▲ 5.5%€-38k▼ 7.3%€-38k▲ 0.8%€5k€21k▲ 346%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 74% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €114k
Fixed assets
€39k ▼ 15.5%
Current assets
€75k ▼ 12.2%
Equity and liabilities €114k
Equity
€60k ▲ 17.3%
Debt
€54k ▼ 32.6%
Debt's share of the balance-sheet total falls from 61.4% to 47.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€18k▼
2024 · €51k
Cash flow
€16k▼
2024 · €45k
Current ratio
1.38▲
2024 · 1.06
Quick ratio
0.78▲
2024 · 0.62
Debt to equity
0.91▼
2024 · 1.59
ROE
14.8%▼
2024 · 74.7%
ROA
7.7%▼
2024 · 28.8%
Interest coverage
7.38▼
2024 · 24.43
Debt ≤ 1 year
€54k▼
2024 · €81k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30k | €24k | €17k | €7k | €7k | ▼ 4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €70 | €-70 | ▼ 200% |
| Other operating charges640/8 | €2k | €1k | €2k | €2k | €5k | ▲ 236% |
| Gross operating margin9900 | €28k | €22k | €25k | €52k | €24k | ▼ 54.9% |
| Operating profit (loss)9901 | €-4k | €-3k | €6k | €43k | €11k | ▼ 73.8% |
| Financial income75/76B | €1 | €1 | - | €0 | €0 | ▼ 73.3% |
| Recurring financial income75 | €1 | €1 | - | €0 | €0 | ▼ 73.3% |
| Financial charges65/66B | €3k | €2k | €2k | €2k | €3k | ▲ 20.8% |
| Recurring financial charges65 | €3k | €2k | €2k | €2k | €3k | ▲ 20.8% |
| Profit (loss) for the period before taxes9903 | €-7k | €-5k | €4k | €41k | €9k | ▼ 78.6% |
| Income taxes67/77 | - | - | - | €3k | - | - |
| Profit (loss) for the period9904 | €-7k | €-5k | €4k | €38k | €9k | ▼ 76.8% |
| Profit (loss) for the period to be appropriated9905 | €-7k | €-5k | €4k | €38k | €9k | ▼ 76.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €188k | €145k | €128k | €132k | €114k | ▼ 13.3% |
| Fixed assets21/28 | €89k | €65k | €54k | €46k | €39k | ▼ 15.5% |
| Intangible fixed assets21 | €25k | €9k | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €64k | €56k | €54k | €46k | €39k | ▼ 15.5% |
| Land and buildings22 | €53k | €48k | €43k | €38k | €33k | ▼ 12.8% |
| Plant, machinery and equipment23 | €10k | €8k | €11k | €8k | €6k | ▼ 27.7% |
| Furniture and vehicles24 | €0 | €0 | €0 | €0 | €0 | - |
| Current assets29/58 | €99k | €80k | €74k | €85k | €75k | ▼ 12.2% |
| Stocks and contracts in progress3 | €39k | €31k | €31k | €35k | €32k | ▼ 8.3% |
| Stocks30/36 | €39k | €31k | €31k | €35k | €32k | ▼ 8.3% |
| Amounts receivable within one year40/41 | €60k | €47k | €43k | €50k | €38k | ▼ 23.9% |
| Trade receivables40 | €60k | €47k | €41k | €38k | €38k | ▼ 0.9% |
| Other amounts receivable41 | €0 | €0 | €2k | €12k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0 | €0 | €0 | €89 | €5k | ▲ 5,050% |
| Deferred charges and accrued income490/1 | - | €2k | €0 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €188k | €145k | €128k | €132k | €114k | ▼ 13.3% |
| Equity10/15 | €14k | €9k | €13k | €51k | €60k | ▲ 17.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €0 | €31k | €31k | = |
| Non-distributable reserves130/1 | €2k | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €0 | - | - | - |
| Distributable reserves133 | - | - | €0 | €31k | €31k | = |
| Profit (loss) carried forward14 | €-6k | €-11k | €-6k | €1k | €10k | ▲ 747% |
| Amounts payable17/49 | €174k | €136k | €115k | €81k | €54k | ▼ 32.6% |
| Amounts payable after more than one year17 | €39k | €18k | €3k | €0 | - | - |
| Financial debts170/4 | €39k | €18k | €3k | €0 | - | - |
| Amounts payable within one year42/48 | €134k | €118k | €112k | €81k | €54k | ▼ 32.6% |
| Current portion of amounts payable after more than one year42 | €21k | €21k | €15k | €3k | €0 | ▼ 100% |
| Financial debts43 | €18k | €20k | €11k | €6k | €2k | ▼ 64.7% |
| Credit institutions430/8 | €18k | €20k | €11k | €6k | €2k | ▼ 64.7% |
| Trade debts44 | €31k | €13k | €33k | €31k | €19k | ▼ 38.8% |
| Suppliers440/4 | €31k | €13k | €33k | €31k | €19k | ▼ 38.8% |
| Taxes, remuneration and social security45 | €4k | €6k | €7k | €4k | €7k | ▲ 61.4% |
| Taxes450/3 | €4k | €6k | €7k | €4k | €7k | ▲ 61.4% |
| Remuneration and social security454/9 | - | €0 | - | - | - | - |
| Other amounts payable47/48 | €61k | €58k | €46k | €37k | €27k | ▼ 28.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-7k | €-5k | €4k | €38k | €9k | ▼ 76.8% |
| + Depreciation and write-downs630 | €30k | €24k | €17k | €7k | €7k | ▼ 4.3% |
| Operating cash flow (approximation) | €23k | €19k | €20k | €45k | €16k | ▼ 64.9% |
| Investment in fixed assets (approximation) | - | €0 | €-5k | €0 | €0 | - |
| Change in cash | - | €0 | €0 | €89 | €4k | ▲ 4,950% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Highest result since 2018net €38k ▲916%
Net result €38k, the highest in the series.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €4k
Net result €4k after 4 loss-making years.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
24-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 116 days late
2020
31-12
Financial
Weakest financial yearnet €-45k
Net result drops to €-45k, the lowest in the series; recovery starts the following year.
06-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 98 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 2013
Ground area
414 m²
Building footprint
121 m²
Volume, LiDAR
1,423 m³
2 parcels, Wallonia · tallest building 15.1 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Rue Lamarck 129, 4000 Liège
since 20132.257.599.081
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62810B1001/00M000 | Wallonia | 302 m² | 1 · 88 m² | 11.9 m · 4 fl. |
| 62810C0380/00B000 | Wallonia | 113 m² | 1 · 33 m² | 15.1 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 125 companies in sector 17120 we hold annual accounts for 92. 32 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-05-2013
Fiscal year end31-12
Activities, NACEBEL 2025
17120Manufacture of paper and paper products
17210Manufacture of paper and paper products
Scores and ratios are computed by Checked and are not a credit decision.