JANDRIX
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-07-2026 at the NBB all 8 filings
Turnover
≈ €390,000
Estimated: probably between €290,000 and €660,000
Total assets
€399,653▲ 57.8%
2024 · €253,279
Net result
€39,432
2024 · -€4,392
Working capital
€10,707▲ 200%
2024 · €3,564
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€52,662
2025
20182025
Net result
€39,432
2025
highest quarter of the sector
20182025
Equity
€122,352
▲ 47.6%
2025
middle half of the sector
20182025
Total assets
€399,653
▲ 57.8%
2025
highest quarter of the sector
20182025
Debt
€277,301
▲ 62.8%
2025
20182025
Working capital
€10,707
▲ 200%
2025
middle half of the sector
20182025
Solvency
30.6%
▼ 2.1pp
2025
middle half of the sector
20182025
Current ratio
1.08
▲ 0.04
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
9.9%
▲ 11.6pp
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€7,344-€54,733▲ 645%€24,128▼ 55.9%€19,360▼ 19.8%€8,348▼ 56.9%-€1,867-€1,435▲ 23.1%€52,662
Net result€4,911-€36,361▲ 640%€15,865within the sector's middle half▼ 56.4%€16,187within the sector's middle half▲ 2.0%€6,226within the sector's middle half▼ 61.5%-€4,640below the sector's middle half-€4,392below the sector's middle half▲ 5.3%€39,432above the sector's middle half
Equity€17,311-€53,672▲ 210%€69,538within the sector's middle half▲ 29.6%€85,725within the sector's middle half▲ 23.3%€91,951within the sector's middle half▲ 7.3%€87,311within the sector's middle half▼ 5.0%€82,919within the sector's middle half▼ 5.0%€122,352within the sector's middle half▲ 47.6%
Total assets€153,672-€206,860▲ 34.6%€229,265within the sector's middle half▲ 10.8%€287,937within the sector's middle half▲ 25.6%€290,579within the sector's middle half▲ 0.9%€273,347within the sector's middle half▼ 5.9%€253,279within the sector's middle half▼ 7.3%€399,653above the sector's middle half▲ 57.8%
Debt€136,361-€153,188▲ 12.3%€159,728▲ 4.3%€202,213▲ 26.6%€198,628▼ 1.8%€186,036▼ 6.3%€170,359▼ 8.4%€277,301▲ 62.8%
Working capital-€47,232--€40,212▲ 14.9%-€7,653below the sector's middle half▲ 81.0%-€3,011below the sector's middle half▲ 60.7%€5,292within the sector's middle half-€5,774below the sector's middle half€3,564below the sector's middle half€10,707within the sector's middle half▲ 200%
Solvency11.3%-25.9%▲ 14.7pp30.3%within the sector's middle half▲ 4.4pp29.8%within the sector's middle half▼ 0.6pp31.6%within the sector's middle half▲ 1.9pp31.9%within the sector's middle half▲ 0.3pp32.7%within the sector's middle half▲ 0.8pp30.6%within the sector's middle half▼ 2.1pp
Current ratio0.44-0.65▲ 0.210.94below the sector's middle half▲ 0.290.97below the sector's middle half▲ 0.031.05below the sector's middle half▲ 0.070.94below the sector's middle half▼ 0.111.03below the sector's middle half▲ 0.091.08below the sector's middle half▲ 0.04
Return on assets (ROA)3.2%-17.6%▲ 14.4pp6.9%within the sector's middle half▼ 10.7pp5.6%within the sector's middle half▼ 1.3pp2.1%within the sector's middle half▼ 3.5pp-1.7%below the sector's middle half▼ 3.8pp-1.7%below the sector's middle half=9.9%within the sector's middle half▲ 11.6pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 a profit of €52,662, after a loss of €1,435 in 2024. It is the highest result since 2021.
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 €399,653
Fixed assets
€248,256 ▲ 76.4%
Current assets
€151,397 ▲ 34.5%
Equity and liabilities €399,653
Equity
€122,352 ▲ 47.6%
Debt
€277,301 ▲ 62.8%
Debt's share of the balance-sheet total rises from 67.3% to 69.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€98,764▲
2024 · €40,838
Cash flow
€85,534▲
2024 · €37,881
Debt to equity
2.27▲
2024 · 2.05
ROE
32.2%▲
2024 · -5.3%
Interest coverage
29.64▲
2024 · 13.81
Debt ≤ 1 year
€140,690▲
2024 · €108,978
Debt > 1 year
€136,612▲
2024 · €59,426
Income taxes
€9,899
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 | €114,646 | €42,764 | €50,555 | €1,745 | €153,621 |
| Depreciation and write-downs of the year | €44,537 | €45,906 | €43,756 | €42,274 | €46,102 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €951 | - | - | - | €18,250 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,457 | €32,629 | €33,220 | €44,537 | €45,906 | €43,756 | €42,274 | €46,102 | ▲ 9.1% |
| Other operating charges640/8 | - | - | - | €542 | €451 | €611 | €431 | €509 | ▲ 18.1% |
| Gross operating margin9900 | €35,863 | €88,730 | €57,888 | €64,438 | €54,704 | €42,500 | €41,270 | €99,274 | ▲ 141% |
| Operating profit (loss)9901 | €7,344 | €54,733 | €24,128 | €19,360 | €8,348 | -€1,867 | -€1,435 | €52,662 | - |
| Financial income75/76B | - | - | - | €0 | €2 | €3 | €1 | €1 | ▲ 76.1% |
| Recurring financial income75 | €0 | €15 | €0 | €0 | €2 | €3 | €1 | €1 | ▲ 76.1% |
| Financial charges65/66B | - | - | - | €1,554 | €1,501 | €2,776 | €2,958 | €3,332 | ▲ 12.7% |
| Recurring financial charges65 | €1,942 | €1,692 | €1,117 | €1,554 | €1,501 | €2,776 | €2,958 | €3,332 | ▲ 12.7% |
| Profit (loss) for the period before taxes9903 | €5,402 | €53,056 | €23,012 | €17,805 | €6,849 | -€4,640 | -€4,392 | €49,332 | - |
| Income taxes67/77 | €491 | €16,695 | €7,146 | €1,619 | €623 | - | - | €9,899 | - |
| Profit (loss) for the period9904 | €4,911 | €36,361 | €15,865 | €16,187 | €6,226 | -€4,640 | -€4,392 | €39,432 | - |
| Profit (loss) for the period to be appropriated9905 | €4,911 | €36,361 | €15,865 | €16,187 | €6,226 | -€4,640 | -€4,392 | €39,432 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €153,672 | €206,860 | €229,265 | €287,937 | €290,579 | €273,347 | €253,279 | €399,653 | ▲ 57.8% |
| Fixed assets21/28 | €116,511 | €131,863 | €108,711 | €178,821 | €174,466 | €181,265 | €140,737 | €248,256 | ▲ 76.4% |
| Tangible fixed assets22/27 | €116,511 | €131,863 | €108,711 | €178,821 | €174,466 | €181,265 | €140,737 | €248,256 | ▲ 76.4% |
| Plant, machinery and equipment23 | - | - | - | €67,134 | €85,459 | €77,021 | €60,367 | €51,805 | ▼ 14.2% |
| Furniture and vehicles24 | - | - | - | €15,662 | €8,410 | €611 | €165 | €353 | ▲ 114% |
| Other tangible fixed assets26 | - | - | - | €96,025 | €80,596 | €103,634 | €80,205 | €196,097 | ▲ 144% |
| Current assets29/58 | €37,161 | €74,997 | €120,554 | €109,117 | €116,113 | €92,082 | €112,542 | €151,397 | ▲ 34.5% |
| Amounts receivable within one year40/41 | €3,302 | €20,475 | €27,995 | €14,528 | €17,245 | €23,150 | €20,715 | €16,843 | ▼ 18.7% |
| Trade receivables40 | - | - | - | €5,501 | €9,505 | €14,510 | €3,004 | €1,190 | ▼ 60.4% |
| Other amounts receivable41 | - | - | - | €9,027 | €7,740 | €8,640 | €17,711 | €15,653 | ▼ 11.6% |
| Cash at bank and in hand54/58 | €33,859 | €54,523 | €91,503 | €93,119 | €97,180 | €67,130 | €89,910 | €129,554 | ▲ 44.1% |
| Deferred charges and accrued income490/1 | - | - | - | €1,469 | €1,689 | €1,803 | €1,917 | €5,000 | ▲ 161% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €153,672 | €206,860 | €229,265 | €287,937 | €290,579 | €273,347 | €253,279 | €399,653 | ▲ 57.8% |
| Equity10/15 | €17,311 | €53,672 | €69,538 | €85,725 | €91,951 | €87,311 | €82,919 | €122,352 | ▲ 47.6% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €4,911 | €41,272 | €57,138 | €73,325 | €79,551 | €79,551 | €79,551 | €109,952 | ▲ 38.2% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €71,465 | €77,691 | €77,691 | €77,691 | €108,092 | ▲ 39.1% |
| Profit (loss) carried forward14 | - | - | - | - | - | -€4,640 | -€9,032 | - | - |
| Amounts payable17/49 | €136,361 | €153,188 | €159,728 | €202,213 | €198,628 | €186,036 | €170,359 | €277,301 | ▲ 62.8% |
| Amounts payable after more than one year17 | €51,968 | €37,979 | €28,571 | €88,941 | €87,806 | €88,180 | €59,426 | €136,612 | ▲ 130% |
| Financial debts170/4 | - | - | - | €88,941 | €87,806 | €88,180 | €59,426 | €136,612 | ▲ 130% |
| Amounts payable within one year42/48 | €84,393 | €115,209 | €128,208 | €112,128 | €110,822 | €97,856 | €108,978 | €140,690 | ▲ 29.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €20,694 | €26,918 | €33,766 | €28,754 | €40,550 | ▲ 41.0% |
| Trade debts44 | €9,978 | €17,346 | €29,733 | €13,581 | €9,007 | €12,503 | €15,335 | €26,844 | ▲ 75.1% |
| Suppliers440/4 | - | - | - | €13,581 | €9,007 | €12,503 | €15,335 | €26,844 | ▲ 75.1% |
| Taxes, remuneration and social security45 | - | - | - | €10,015 | €3,491 | €1,887 | €1,250 | €11,149 | ▲ 792% |
| Taxes450/3 | - | - | - | €8,765 | €2,241 | €637 | - | €9,899 | - |
| Remuneration and social security454/9 | - | - | - | €1,250 | €1,250 | €1,250 | €1,250 | €1,250 | = |
| Other amounts payable47/48 | - | - | - | €67,838 | €71,406 | €49,701 | €63,639 | €62,146 | ▼ 2.3% |
| Accrued charges and deferred income492/3 | - | - | - | €1,144 | - | - | €1,956 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,911 | €36,361 | €15,865 | €16,187 | €6,226 | -€4,640 | -€4,392 | €39,432 | - |
| + Depreciation and write-downs630 | €28,457 | €32,629 | €33,220 | €44,537 | €45,906 | €43,756 | €42,274 | €46,102 | ▲ 9.1% |
| Operating cash flow (approximation) | €33,368 | €68,991 | €49,086 | €60,724 | €52,132 | €39,116 | €37,881 | €85,534 | ▲ 126% |
| Investment in fixed assets (approximation) | - | -€47,981 | -€10,069 | -€114,646 | -€41,551 | -€50,555 | -€1,745 | -€153,621 | ▼ 8,701% |
| Change in cash | - | €20,664 | €36,980 | €1,617 | €4,060 | -€30,050 | €22,780 | €39,644 | ▲ 74.0% |
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, 26,972 companies had the same profile as JANDRIX has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of JANDRIX itself is lower: 0.3% within 12 months. It rests on far more data about JANDRIX than the profile alone.
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 26,972 companies, not a prediction for JANDRIX. 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.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-07-2026 | 2026-00266196 | |
| 31-12-2024 | micro format | 08-07-2025 | 2025-00241826 | |
| 31-12-2023 | micro format | 10-07-2024 | 2024-00229701 | |
| 31-12-2022 | micro format | 09-07-2023 | 2023-00217519 | |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20203108 | |
| 31-12-2020 | micro format | 14-07-2021 | 2021-35100556 | |
| 31-12-2019 | micro format | 20-07-2020 | 2020-33800117 | |
| 31-12-2018 | micro format | 22-07-2019 | 2019-37000194 |