JAM-S
ActiveSummary
JAM-S has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €31,491 and a net result of €1,300. Equity is growing by ~7.8% per year across the filed fiscal years. Its solvency ranks better than 66% of 3521 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37▼-2
Solvency92▲+13
Growth52=
Track record94
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 1.83 against 1.26 in 2024; short-term debt: 21.2% and cash: 13.4% of total assets), and 33.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer 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
66.7%
Return on assets
2.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
31 d late
2024
50 d early
2023
40 d late
2022
9 d late
2021
35 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 1 day before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
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. Usually files around 9 August (4 of the last 5 filed years within 44 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€31,491▲ 4.5%
2024 · €30,126
Total assets
€47,240▼ 14.7%
2024 · €55,364
Net result
€1,300▼ 46.2%
2024 · €2,419
Working capital
€8,277▲ 120%
2024 · €3,770
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€29,699-€62,445▲ 110%€24,023▼ 61.5%€22,613▼ 5.9%€24,372▲ 7.8%
Net result€3,144within the sector's middle half-€18,268within the sector's middle half▲ 481%€295within the sector's middle half▼ 98.4%€2,419within the sector's middle half▲ 719%€1,300within the sector's middle half▼ 46.2%
Equity€9,144below the sector's middle half-€27,411within the sector's middle half▲ 200%€27,707within the sector's middle half▲ 1.1%€30,126within the sector's middle half▲ 8.7%€31,491within the sector's middle half▲ 4.5%
Total assets€28,926below the sector's middle half-€54,529within the sector's middle half▲ 88.5%€61,131within the sector's middle half▲ 12.1%€55,364within the sector's middle half▼ 9.4%€47,240within the sector's middle half▼ 14.7%
Debt€19,783-€27,117▲ 37.1%€33,424▲ 23.3%€25,238▼ 24.5%€15,749▼ 37.6%
Working capital€2,059within the sector's middle half-€579within the sector's middle half▼ 71.9%€3,503within the sector's middle half▲ 505%€3,770within the sector's middle half▲ 7.6%€8,277within the sector's middle half▲ 120%
Solvency31.6%within the sector's middle half-50.3%within the sector's middle half▲ 18.7pp45.3%within the sector's middle half▼ 4.9pp54.4%within the sector's middle half▲ 9.1pp66.7%within the sector's middle half▲ 12.2pp
Current ratio1.13within the sector's middle half-1.03within the sector's middle half▼ 0.101.19within the sector's middle half▲ 0.171.26within the sector's middle half▲ 0.061.83within the sector's middle half▲ 0.57
Return on assets (ROA)10.9%within the sector's middle half-33.5%above the sector's middle half▲ 22.6pp0.5%within the sector's middle half▼ 33.0pp4.4%within the sector's middle half▲ 3.9pp2.8%within the sector's middle half▼ 1.6pp
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 8% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €47,240
Fixed assets
€28,943 ▼ 21.5%
Current assets
€18,297 ▼ 1.2%
Equity and liabilities €47,240
Equity
€31,491 ▲ 4.5%
Debt
€15,749 ▼ 37.6%
Debt's share of the balance-sheet total falls from 45.6% to 33.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€38,315▲
2024 · €34,189
Cash flow
€15,243▲
2024 · €13,995
Debt to equity
0.50▼
2024 · 0.84
ROE
4.1%▼
2024 · 8.0%
Interest coverage
1.72▼
2024 · 1.79
Debt ≤ 1 year
€10,021▼
2024 · €14,745
Debt > 1 year
€5,728▼
2024 · €10,493
Income taxes
€832▼
2024 · €1,142
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,048 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.2%
went bankrupt
3.8%
stopped otherwise
94%
still going
For this company itself Checked computes a bankruptcy probability of 1.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 5,048 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,977 | €6,615 | €9,646 | €11,575 | €13,943 | ▲ 20.5% |
| Other operating charges640/8 | €3,164 | €821 | €1,991 | €1,422 | €2,078 | ▲ 46.1% |
| Gross operating margin9900 | €34,841 | €69,881 | €35,660 | €35,611 | €40,393 | ▲ 13.4% |
| Operating profit (loss)9901 | €29,699 | €62,445 | €24,023 | €22,613 | €24,372 | ▲ 7.8% |
| Financial income75/76B | €0 | €10 | €9 | €1 | €0 | ▼ 74.7% |
| Recurring financial income75 | €0 | €10 | €9 | €1 | €0 | ▼ 74.7% |
| Financial charges65/66B | €25,518 | €38,409 | €23,542 | €19,053 | €22,240 | ▲ 16.7% |
| Recurring financial charges65 | €25,518 | €38,409 | €23,542 | €19,053 | €22,240 | ▲ 16.7% |
| Profit (loss) for the period before taxes9903 | €4,182 | €24,046 | €490 | €3,562 | €2,132 | ▼ 40.1% |
| Income taxes67/77 | €1,038 | €5,779 | €194 | €1,142 | €832 | ▼ 27.2% |
| Profit (loss) for the period9904 | €3,144 | €18,268 | €295 | €2,419 | €1,300 | ▼ 46.2% |
| Profit (loss) for the period to be appropriated9905 | €3,144 | €18,268 | €295 | €2,419 | €1,300 | ▼ 46.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €28,926 | €54,529 | €61,131 | €55,364 | €47,240 | ▼ 14.7% |
| Formation expenses20 | €185 | - | - | - | - | - |
| Fixed assets21/28 | €10,631 | €33,246 | €39,492 | €36,848 | €28,943 | ▼ 21.5% |
| Tangible fixed assets22/27 | €10,631 | €33,246 | €39,492 | €36,848 | €28,943 | ▼ 21.5% |
| Furniture and vehicles24 | €10,631 | €33,246 | €39,492 | €36,848 | €28,943 | ▼ 21.5% |
| Current assets29/58 | €18,110 | €21,283 | €21,640 | €18,516 | €18,297 | ▼ 1.2% |
| Amounts receivable within one year40/41 | €6,482 | €8,068 | €11,258 | €7,958 | €11,986 | ▲ 50.6% |
| Trade receivables40 | €5,521 | €5,836 | €4,212 | €5,472 | €7,787 | ▲ 42.3% |
| Other amounts receivable41 | €962 | €2,231 | €7,047 | €2,487 | €4,198 | ▲ 68.8% |
| Cash at bank and in hand54/58 | €11,528 | €13,215 | €10,110 | €7,397 | €6,311 | ▼ 14.7% |
| Deferred charges and accrued income490/1 | €100 | - | €272 | €3,160 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €28,926 | €54,529 | €61,131 | €55,364 | €47,240 | ▼ 14.7% |
| Equity10/15 | €9,144 | €27,411 | €27,707 | €30,126 | €31,491 | ▲ 4.5% |
| Contributions10/11 | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Reserves13 | - | €18,200 | €18,200 | €20,600 | €21,900 | ▲ 6.3% |
| Distributable reserves133 | - | €18,200 | €18,200 | €20,600 | €21,900 | ▲ 6.3% |
| Profit (loss) carried forward14 | €3,144 | €3,211 | €3,507 | €3,526 | €3,591 | ▲ 1.9% |
| Amounts payable17/49 | €19,783 | €27,117 | €33,424 | €25,238 | €15,749 | ▼ 37.6% |
| Amounts payable after more than one year17 | €3,731 | €6,414 | €15,287 | €10,493 | €5,728 | ▼ 45.4% |
| Financial debts170/4 | €3,731 | €6,414 | €15,287 | €10,493 | €5,728 | ▼ 45.4% |
| Amounts payable within one year42/48 | €16,051 | €20,703 | €18,137 | €14,745 | €10,021 | ▼ 32.0% |
| Current portion of amounts payable after more than one year42 | €2,397 | €7,197 | €8,186 | €7,860 | €5,302 | ▼ 32.6% |
| Financial debts43 | - | - | €122 | - | - | - |
| Credit institutions430/8 | - | - | €122 | - | - | - |
| Trade debts44 | €1,159 | €1,985 | €2,930 | €3,444 | €377 | ▼ 89.0% |
| Suppliers440/4 | €1,159 | €1,985 | €2,930 | €3,444 | €377 | ▼ 89.0% |
| Taxes, remuneration and social security45 | €3,227 | €4,201 | €1,269 | €2,922 | €3,481 | ▲ 19.1% |
| Taxes450/3 | €3,227 | €4,201 | €1,269 | €2,922 | €3,481 | ▲ 19.1% |
| Other amounts payable47/48 | €9,269 | €7,319 | €5,630 | €519 | €861 | ▲ 65.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,144 | €18,268 | €295 | €2,419 | €1,300 | ▼ 46.2% |
| + Depreciation and write-downs630 | €1,977 | €6,615 | €9,646 | €11,575 | €13,943 | ▲ 20.5% |
| Operating cash flow (approximation) | €5,121 | €24,882 | €9,942 | €13,995 | €15,243 | ▲ 8.9% |
| Investment in fixed assets (approximation) | - | -€29,229 | -€15,892 | -€8,932 | -€6,038 | ▲ 32.4% |
| Change in cash | - | €1,687 | -€3,105 | -€2,712 | -€1,086 | ▲ 60.0% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
09-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 40 days late
2023
31-12
Financial
Weakest financial yearnet €295 ▼98.4%
Net result drops to €295, the lowest in the series; recovery starts the following year.
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 9 days late
2022
31-12
Financial
Highest result since 2021net €18,268 ▲481%
Operating result €62,445, net result €18,268, both a record.
26-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Elsene · 1 establishment unit since 2021
Ground area
7,406 m²
Building footprint
1,655 m²
Volume, LiDAR
29,823 m³
Parcel 21446F0030/00A000, Brussels · tallest building 28.5 m, ±6 floors. Linked by address, not a title deed.
227
companies at this address
See who is registered here
1 establishment unit
Arnaud Fraiteurlaan 15, 1050 Elsene
since 20212.313.939.948
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21446F0030/00A000 | Brussels | 7,406 m² | 1 · 1,655 m² | 28.5 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 14,138 companies in sector 74201 we hold annual accounts for 2,616. 1,826 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
Founded01-03-2021
Fiscal year end31-12
Activities, NACEBEL 2025
74201Photography, excluding press photography
74209Other photographic activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0764489662
Also
9925:BE0764489662
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.