JAMAR
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 19-07-2026 at the NBB all 39 filings
Turnover
≈ €410,000
Estimated: probably between €310,000 and €810,000
Total assets
€4.3m▲ 6.2%
2024 · €4.0m
Net result
€237,985▼ 60.6%
2024 · €604,046
Working capital
€4.2m▲ 6.1%
2024 · €3.9m
In the rankings
#7 company by equity in Molenbeek-Saint-Jean, Professional and technical services sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€219,381
▲ 10.5%
2025
20182025
Net result
€237,985
▼ 60.6%
2025
highest quarter of the sector
20182025
Equity
€4.2m
▲ 6.1%
2025
highest quarter of the sector
20182025
Total assets
€4.3m
▲ 6.2%
2025
highest quarter of the sector
20182025
Debt
€118,777
▲ 11.1%
2025
20182025
Working capital
€4.2m
▲ 6.1%
2025
highest quarter of the sector
20182025
Solvency
97.2%
▼ 0.1pp
2025
highest quarter of the sector
20182025
Current ratio
36.01
▼ 1.65
2025
highest quarter of the sector
20182025
Return on assets (ROA)
5.6%
▼ 9.4pp
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€0.3m-€0.2m▼ 32.1%€0.2m▼ 8.3%€0.1m▼ 32.8%€0.2m▲ 50.4%€0.2m▼ 0.7%€0.2m▼ 6.9%€0.2m▲ 10.5%
Net result€0.2m-€0.3m▲ 43.6%€0.1mabove the sector's middle half▼ 57.6%€0.09mabove the sector's middle half▼ 33.6%€0.2mabove the sector's middle half▲ 82.8%€0.2mabove the sector's middle half▲ 6.4%€0.6mabove the sector's middle half▲ 232%€0.2mabove the sector's middle half▼ 60.6%
Equity€2.4m-€2.7m▲ 13.8%€2.9mabove the sector's middle half▲ 5.2%€3.0mabove the sector's middle half▲ 3.3%€3.1mabove the sector's middle half▲ 5.8%€3.3mabove the sector's middle half▲ 5.8%€3.9mabove the sector's middle half▲ 18.2%€4.2mabove the sector's middle half▲ 6.1%
Total assets€2.5m-€2.8m▲ 10.7%€2.9mabove the sector's middle half▲ 5.2%€3.0mabove the sector's middle half▲ 2.4%€3.2mabove the sector's middle half▲ 6.2%€3.3mabove the sector's middle half▲ 5.4%€4.0mabove the sector's middle half▲ 20.6%€4.3mabove the sector's middle half▲ 6.2%
Debt€0.1m-€0.04m▼ 62.5%€0.04m▲ 5.5%€0.02m▼ 59.5%€0.03m▲ 93.9%€0.02m▼ 31.7%€0.1m▲ 390%€0.1m▲ 11.1%
Working capital€2.0m-€2.4m▲ 20.8%€2.6mabove the sector's middle half▲ 9.0%€2.8mabove the sector's middle half▲ 6.5%€3.0mabove the sector's middle half▲ 6.3%€3.2mabove the sector's middle half▲ 6.3%€3.9mabove the sector's middle half▲ 23.3%€4.2mabove the sector's middle half▲ 6.1%
Solvency95.9%-98.6%▲ 2.7pp98.6%above the sector's middle half=99.4%above the sector's middle half▲ 0.8pp99.0%above the sector's middle half▼ 0.5pp99.3%above the sector's middle half▲ 0.4pp97.3%above the sector's middle half▼ 2.0pp97.2%above the sector's middle half▼ 0.1pp
Current ratio20.51-63.86▲ 43.3465.95above the sector's middle half▲ 2.1094.67above the sector's middle half37.66above the sector's middle half36.01above the sector's middle half▼ 1.65
Return on assets (ROA)9.2%-12.0%▲ 2.8pp4.8%within the sector's middle half▼ 7.2pp3.1%within the sector's middle half▼ 1.7pp5.4%within the sector's middle half▲ 2.3pp5.4%within the sector's middle half▲ 0.1pp15.0%within the sector's middle half▲ 9.5pp5.6%within the sector's middle half▼ 9.4pp
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 10% higher than in 2024 and the highest since 2019. It is a recovery after the fall in 2024.
Large changes and their cause
- 2025 Net result -61% on 2024. The 2024 profit included a one-off income of €607,474.
- 2024 Net result +232% on 2023. The 2024 profit included a one-off income of €607,474.
Turnover and EBIT margin are not published. The abbreviated or 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 €4.3m
Fixed assets
€2,727 =
Current assets
€4.3m ▲ 6.2%
Equity and liabilities €4.3m
Equity
€4.2m ▲ 6.1%
Debt
€118,777 ▲ 11.1%
Debt's share of the balance-sheet total rises from 2.7% to 2.8%. Equity and debt are higher.
Key figures and ratios
Debt to equity
0.03▲
2024 · 0.03
ROE
5.7%▼
2024 · 15.4%
Debt ≤ 1 year
€118,777▲
2024 · €106,928
Income taxes
€94,015▼
2024 · €279,761
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
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 | €78,636 | €78,100 | €78,100 | €78,100 | €5,931 | €5,931 | - | - | - |
| Other operating charges640/8 | - | - | - | €771 | €790 | €2,737 | €2,855 | €1,756 | ▼ 38.5% |
| Gross operating margin9900 | €421,321 | €311,327 | €291,244 | €221,674 | €221,511 | €221,969 | €201,465 | €221,137 | ▲ 9.8% |
| Operating profit (loss)9901 | €341,112 | €231,621 | €212,379 | €142,803 | €214,790 | €213,301 | €198,610 | €219,381 | ▲ 10.5% |
| Financial income75/76B | - | - | - | - | €27,844 | €51,111 | €685,475 | €113,144 | ▼ 83.5% |
| Recurring financial income75 | €6,682 | €6,753 | - | - | €27,844 | €51,111 | €78,000 | €113,144 | ▲ 45.1% |
| Non-recurring financial income76B | - | - | - | - | - | - | €607,474 | - | - |
| Financial charges65/66B | - | - | - | €5,632 | €646 | €198 | €277 | €525 | ▲ 89.1% |
| Recurring financial charges65 | €984 | €1,035 | €4,662 | €5,632 | €646 | €198 | €277 | €525 | ▲ 89.1% |
| Profit (loss) for the period before taxes9903 | €346,810 | €504,783 | €207,716 | €137,171 | €241,989 | €264,214 | €883,808 | €332,000 | ▼ 62.4% |
| Income taxes67/77 | €115,497 | €172,512 | €66,928 | €43,660 | €71,065 | €82,279 | €279,761 | €94,015 | ▼ 66.4% |
| Profit (loss) for the period9904 | €231,314 | €332,271 | €140,788 | €93,511 | €170,923 | €181,935 | €604,046 | €237,985 | ▼ 60.6% |
| Profit (loss) for the period to be appropriated9905 | €231,314 | €332,271 | €140,788 | €93,511 | €170,923 | €181,935 | €604,046 | €237,985 | ▼ 60.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.5m | €2.8m | €2.9m | €3.0m | €3.2m | €3.3m | €4.0m | €4.3m | ▲ 6.2% |
| Fixed assets21/28 | €0.4m | €0.3m | €0.2m | €0.2m | €0.1m | €0.1m | €0.003m | €0.003m | = |
| Tangible fixed assets22/27 | €0.4m | €0.3m | €0.2m | €0.2m | €0.1m | €0.1m | €0.003m | €0.003m | = |
| Land and buildings22 | - | - | - | €0.1m | €0.1m | €0.1m | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Current assets29/58 | €2.1m | €2.5m | €2.7m | €2.8m | €3.0m | €3.2m | €4.0m | €4.3m | ▲ 6.2% |
| Amounts receivable within one year40/41 | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 1.7% |
| Trade receivables40 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | ▼ 12.3% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Current investments50/53 | €0.4m | €0.4m | €0.5m | €1.0m | €2.7m | €2.9m | €3.7m | €3.9m | ▲ 6.9% |
| Cash at bank and in hand54/58 | €1.4m | €1.8m | €1.9m | €1.6m | €0.07m | €0.04m | €0.1m | €0.1m | ▼ 0.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | ▲ 2.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.5m | €2.8m | €2.9m | €3.0m | €3.2m | €3.3m | €4.0m | €4.3m | ▲ 6.2% |
| Equity10/15 | €2.4m | €2.7m | €2.9m | €3.0m | €3.1m | €3.3m | €3.9m | €4.2m | ▲ 6.1% |
| Contributions10/11 | €0.2m | €0.2m | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €2.2m | €2.6m | €2.7m | €2.8m | €3.0m | €3.2m | €3.8m | €4.0m | ▲ 6.3% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves not available under the articles1311 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €2.8m | €3.0m | €3.1m | €3.7m | €4.0m | ▲ 6.4% |
| Profit (loss) carried forward14 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Amounts payable17/49 | €0.1m | €0.04m | €0.04m | €0.02m | €0.03m | €0.02m | €0.1m | €0.1m | ▲ 11.1% |
| Amounts payable within one year42/48 | €0.1m | €0.04m | €0.04m | €0.02m | €0.03m | €0.02m | €0.1m | €0.1m | ▲ 11.1% |
| Trade debts44 | €0.02m | €0.005m | €0.001m | €0.001m | €0.003m | €0.004m | €0.002m | €493 | ▼ 69.6% |
| Suppliers440/4 | - | - | - | €0.001m | €0.003m | €0.004m | €0.002m | €493 | ▼ 69.6% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.03m | €0.02m | €0.1m | €0.1m | ▲ 12.6% |
| Taxes450/3 | - | - | - | €0.01m | €0.03m | €0.02m | €0.1m | €0.1m | ▲ 12.6% |
| Other amounts payable47/48 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.3m | €0.1m | €0.09m | €0.2m | €0.2m | €0.6m | €0.2m | ▼ 60.6% |
| + Depreciation and write-downs630 | €0.08m | €0.08m | €0.08m | €0.08m | €0.006m | €0.006m | - | - | - |
| Operating cash flow (approximation) | €0.3m | €0.4m | €0.2m | €0.2m | €0.2m | €0.2m | €0.6m | €0.2m | ▼ 60.6% |
| Investment in fixed assets (approximation) | - | €0.008m | €0 | €0 | €0 | €0 | €0.1m | €0 | ▼ 100% |
| Change in cash | - | €0.4m | €0.1m | -€0.3m | -€1.5m | -€0.03m | €0.09m | -€392 | - |
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, 20,136 companies had the same profile as JAMAR has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of JAMAR 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 20,136 companies, not a prediction for JAMAR. 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 39 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 19-07-2026 | 2026-00309141 | |
| 31-12-2024 | micro format | 08-07-2025 | 2025-00243559 | |
| 31-12-2023 | micro format | 26-07-2024 | 2024-00288719 | |
| 31-12-2022 | micro format | 11-07-2023 | 2023-00227705 | |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20118936 | |
| 31-12-2020 | micro format | 29-06-2021 | 2021-25800577 | |
| 31-12-2019 | micro format | 31-07-2020 | 2020-36800489 | |
| 31-12-2018 | abbreviated format | 31-07-2019 | 2019-40700297 | |
| 31-12-2017 | abbreviated format | 27-07-2018 | 2018-38400090 | |
| 31-12-2016 | abbreviated format | 28-07-2017 | 2017-36800126 |