JAMESSON OPERATIONS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-07-2026 at the NBB all 29 filings
Turnover
≈ €190,000
Estimated: probably between €70,000 and €410,000
Total assets
€140,574▲ 7.1%
2024 · €131,280
Net result
€13,026▼ 44.7%
2024 · €23,548
Working capital
€109,178▼ 5.2%
2024 · €115,195
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€17,769
▼ 47.6%
2025
20182025
Net result
€13,026
▼ 44.7%
2025
middle half of the sector
20182025
Equity
€119,353
▼ 1.2%
2025
middle half of the sector
20182025
Total assets
€140,574
▲ 7.1%
2025
middle half of the sector
20182025
Debt
€21,221
▲ 103%
2025
20182025
Working capital
€109,178
▼ 5.2%
2025
highest quarter of the sector
20182025
Solvency
84.9%
▼ 7.1pp
2025
highest quarter of the sector
20182025
Current ratio
6.14
▼ 5.88
2025
highest quarter of the sector
20182025
Return on assets (ROA)
9.3%
▼ 8.7pp
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€38,006-€12,393▼ 67.4%-€4,350€4,799€14,695▲ 206%€34,900▲ 137%€33,929▼ 2.8%€17,769▼ 47.6%
Net result€23,023-€7,984▼ 65.3%-€4,130below the sector's middle half€4,010within the sector's middle half€10,490within the sector's middle half▲ 162%€23,943above the sector's middle half▲ 128%€23,548above the sector's middle half▼ 1.6%€13,026within the sector's middle half▼ 44.7%
Equity€54,982-€62,967▲ 14.5%€58,836within the sector's middle half▼ 6.6%€62,847within the sector's middle half▲ 6.8%€73,337within the sector's middle half▲ 16.7%€97,279within the sector's middle half▲ 32.6%€120,828within the sector's middle half▲ 24.2%€119,353within the sector's middle half▼ 1.2%
Total assets€58,219-€64,222▲ 10.3%€59,792below the sector's middle half▼ 6.9%€65,991within the sector's middle half▲ 10.4%€80,213within the sector's middle half▲ 21.6%€105,074within the sector's middle half▲ 31.0%€131,280within the sector's middle half▲ 24.9%€140,574within the sector's middle half▲ 7.1%
Debt€3,237-€1,255▼ 61.2%€956▼ 23.8%€3,144▲ 229%€6,876▲ 119%€7,795▲ 13.4%€10,453▲ 34.1%€21,221▲ 103%
Working capital€45,270-€56,492▲ 24.8%€55,599within the sector's middle half▼ 1.6%€62,847within the sector's middle half▲ 13.0%€63,772within the sector's middle half▲ 1.5%€89,684above the sector's middle half▲ 40.6%€115,195above the sector's middle half▲ 28.4%€109,178above the sector's middle half▼ 5.2%
Solvency94.4%-98.0%▲ 3.6pp98.4%above the sector's middle half▲ 0.4pp95.2%above the sector's middle half▼ 3.2pp91.4%above the sector's middle half▼ 3.8pp92.6%above the sector's middle half▲ 1.2pp92.0%above the sector's middle half▼ 0.5pp84.9%above the sector's middle half▼ 7.1pp
Current ratio14.99-46.02▲ 31.0359.18above the sector's middle half▲ 13.1620.99above the sector's middle half▼ 38.1910.27above the sector's middle half▼ 10.7112.51above the sector's middle half▲ 2.2312.02above the sector's middle half▼ 0.496.14above the sector's middle half▼ 5.88
Return on assets (ROA)39.5%-12.4%▼ 27.1pp-6.9%below the sector's middle half▼ 19.3pp6.1%within the sector's middle half▲ 13.0pp13.1%above the sector's middle half▲ 7.0pp22.8%above the sector's middle half▲ 9.7pp17.9%above the sector's middle half▼ 4.8pp9.3%within the sector's middle half▼ 8.7pp
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 48% lower than in 2024. It is the second fall in a row.
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 €140,574
Fixed assets
€10,175 ▲ 80.7%
Current assets
€130,399 ▲ 3.8%
Equity and liabilities €140,574
Equity
€119,353 ▼ 1.2%
Debt
€21,221 ▲ 103%
Debt's share of the balance-sheet total rises from 8.0% to 15.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€18,311▼
2024 · €35,893
Cash flow
€13,567▼
2024 · €25,512
Debt to equity
0.18▲
2024 · 0.09
ROE
10.9%▼
2024 · 19.5%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€21,221▲
2024 · €10,453
Income taxes
€6,424▼
2024 · €11,542
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 | - | €9,845 | - | - | €10,716 |
| Depreciation and write-downs of the year | €3,238 | €281 | €1,969 | €1,964 | €541 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,491 | €3,238 | €3,238 | €3,238 | €281 | €1,969 | €1,964 | €541 | ▼ 72.4% |
| Other operating charges640/8 | - | - | - | - | - | - | €2,002 | - | - |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €108 | - |
| Gross operating margin9900 | €41,640 | €15,689 | -€1,053 | €8,037 | €14,976 | €36,869 | €37,895 | €18,418 | ▼ 51.4% |
| Operating profit (loss)9901 | €38,006 | €12,393 | -€4,350 | €4,799 | €14,695 | €34,900 | €33,929 | €17,769 | ▼ 47.6% |
| Financial income75/76B | - | - | - | €377 | €563 | €408 | €1,235 | €2,007 | ▲ 62.5% |
| Recurring financial income75 | €1 | €6 | €280 | €377 | €563 | €408 | €479 | €2,007 | ▲ 319% |
| Non-recurring financial income76B | - | - | - | - | - | - | €756 | - | - |
| Financial charges65/66B | - | - | - | €170 | €277 | €65 | €74 | €327 | ▲ 342% |
| Recurring financial charges65 | €4,540 | €246 | €60 | €62 | €259 | €65 | €74 | €121 | ▲ 63.6% |
| Non-recurring financial charges66B | - | - | - | €108 | €18 | - | - | €206 | - |
| Profit (loss) for the period before taxes9903 | €33,468 | €12,153 | -€4,130 | €5,007 | €14,981 | €35,242 | €35,091 | €19,450 | ▼ 44.6% |
| Income taxes67/77 | €10,444 | €4,168 | - | €996 | €4,491 | €11,300 | €11,542 | €6,424 | ▼ 44.3% |
| Profit (loss) for the period9904 | €23,023 | €7,984 | -€4,130 | €4,010 | €10,490 | €23,943 | €23,548 | €13,026 | ▼ 44.7% |
| Profit (loss) for the period to be appropriated9905 | €23,023 | €7,984 | -€4,130 | €4,010 | €10,490 | €23,943 | €23,548 | €13,026 | ▼ 44.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €58,219 | €64,222 | €59,792 | €65,991 | €80,213 | €105,074 | €131,280 | €140,574 | ▲ 7.1% |
| Fixed assets21/28 | €9,713 | €6,475 | €3,238 | - | €9,565 | €7,596 | €5,632 | €10,175 | ▲ 80.7% |
| Tangible fixed assets22/27 | €9,713 | €6,475 | €3,238 | €0 | €9,565 | €7,596 | €5,632 | €10,175 | ▲ 80.7% |
| Furniture and vehicles24 | - | - | - | - | €9,565 | €7,596 | €5,632 | €8,674 | ▲ 54.0% |
| Other tangible fixed assets26 | - | - | - | - | - | - | - | €1,501 | - |
| Current assets29/58 | €48,507 | €57,747 | €56,555 | €65,991 | €70,648 | €97,478 | €125,648 | €130,399 | ▲ 3.8% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | - | €40,798 | - |
| Trade receivables290 | - | - | - | - | - | - | - | €40,798 | - |
| Amounts receivable within one year40/41 | €10,742 | €16,307 | €13,868 | €14,953 | €17,455 | €27,366 | €47,757 | €34,375 | ▼ 28.0% |
| Trade receivables40 | - | - | - | €5,151 | €4,904 | €14,746 | €32,960 | €16,533 | ▼ 49.8% |
| Other amounts receivable41 | - | - | - | €9,802 | €12,550 | €12,620 | €14,797 | €17,842 | ▲ 20.6% |
| Cash at bank and in hand54/58 | €37,765 | €41,440 | €42,686 | €50,716 | €52,888 | €69,913 | €77,620 | €54,774 | ▼ 29.4% |
| Deferred charges and accrued income490/1 | - | - | - | €322 | €305 | €199 | €271 | €452 | ▲ 66.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €58,219 | €64,222 | €59,792 | €65,991 | €80,213 | €105,074 | €131,280 | €140,574 | ▲ 7.1% |
| Equity10/15 | €54,982 | €62,967 | €58,836 | €62,847 | €73,337 | €97,279 | €120,828 | €119,353 | ▼ 1.2% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €54,745 | €78,687 | €102,236 | €100,761 | ▼ 1.4% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €52,886 | €78,687 | €102,236 | €100,761 | ▼ 1.4% |
| Profit (loss) carried forward14 | €34,531 | €42,516 | €38,385 | €42,395 | - | - | - | - | - |
| Amounts payable17/49 | €3,237 | €1,255 | €956 | €3,144 | €6,876 | €7,795 | €10,453 | €21,221 | ▲ 103% |
| Amounts payable within one year42/48 | €3,237 | €1,255 | €956 | €3,144 | €6,876 | €7,795 | €10,453 | €21,221 | ▲ 103% |
| Trade debts44 | €387 | €1,255 | €401 | €1,567 | €2,200 | €5,366 | €7,058 | €5,418 | ▼ 23.2% |
| Suppliers440/4 | - | - | - | €1,567 | €2,200 | €5,366 | €7,058 | €5,418 | ▼ 23.2% |
| Taxes, remuneration and social security45 | - | - | - | €1,577 | €4,676 | €2,428 | €3,395 | €2,245 | ▼ 33.9% |
| Taxes450/3 | - | - | - | €1,577 | €4,676 | €2,428 | €3,395 | €2,245 | ▼ 33.9% |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €13,558 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,023 | €7,984 | -€4,130 | €4,010 | €10,490 | €23,943 | €23,548 | €13,026 | ▼ 44.7% |
| + Depreciation and write-downs630 | €3,491 | €3,238 | €3,238 | €3,238 | €281 | €1,969 | €1,964 | €541 | ▼ 72.4% |
| Operating cash flow (approximation) | €26,514 | €11,222 | -€893 | €7,248 | €10,771 | €25,912 | €25,512 | €13,567 | ▼ 46.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | €0 | €0 | -€5,084 | - |
| Change in cash | - | €3,675 | €1,247 | €8,030 | €2,172 | €17,025 | €7,706 | -€22,845 | - |
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 JAMESSON OPERATIONS 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 JAMESSON OPERATIONS 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 JAMESSON OPERATIONS. 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 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 16-07-2026 | 2026-00300324 | |
| 31-12-2024 | micro format | 27-08-2025 | 2025-00414827 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00421049 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00303305 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20404369 | |
| 31-12-2020 | micro format | 25-06-2021 | 2021-24800132 | |
| 31-12-2019 | micro format | 19-06-2020 | 2020-18400238 | |
| 31-12-2018 | micro format | 26-06-2019 | 2019-23800344 | |
| 31-12-2017 | micro format | 21-06-2018 | 2018-23500063 | |
| 31-12-2016 | micro format | 12-07-2017 | 2017-30200250 |