JANSCO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 13-07-2026 at the NBB all 34 filings
Equity
€163,529▼ 6.8%
2024 · €175,416
Total assets
€167,847▼ 8.1%
2024 · €182,696
Net result
-€11,887
2024 · €14,618
Working capital
€68,559▼ 11.7%
2024 · €77,666
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€11,835
2025
20182025
Net result
-€11,887
2025
lowest quarter of the sector
20182025
Equity
€163,529
▼ 6.8%
2025
highest quarter of the sector
20182025
Total assets
€167,847
▼ 8.1%
2025
middle half of the sector
20182025
Debt
€4,318
▼ 40.7%
2025
20182025
Working capital
€68,559
▼ 11.7%
2025
highest quarter of the sector
20182025
Solvency
97.4%
▲ 1.4pp
2025
highest quarter of the sector
20182025
Current ratio
16.88
▲ 5.21
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-7.1%
▼ 15.1pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€2,577-€20,343▲ 689%€3,276▼ 83.9%€18,660▲ 470%-€95€13,542€22,085▲ 63.1%-€11,835
Net result€1,551-€12,733▲ 721%€2,109within the sector's middle half▼ 83.4%€12,654within the sector's middle half▲ 500%-€267below the sector's middle half€9,119within the sector's middle half€14,618within the sector's middle half▲ 60.3%-€11,887below the sector's middle half
Equity€124,450-€137,184▲ 10.2%€139,293above the sector's middle half▲ 1.5%€151,946above the sector's middle half▲ 9.1%€151,679above the sector's middle half▼ 0.2%€160,798above the sector's middle half▲ 6.0%€175,416above the sector's middle half▲ 9.1%€163,529above the sector's middle half▼ 6.8%
Total assets€167,305-€182,318▲ 9.0%€174,034within the sector's middle half▼ 4.5%€169,051within the sector's middle half▼ 2.9%€165,763within the sector's middle half▼ 1.9%€175,914within the sector's middle half▲ 6.1%€182,696within the sector's middle half▲ 3.9%€167,847within the sector's middle half▼ 8.1%
Debt€16,663-€18,942▲ 13.7%€11,642▼ 38.5%€10,455▼ 10.2%€11,084▲ 6.0%€12,616▲ 13.8%€7,280▼ 42.3%€4,318▼ 40.7%
Working capital€33,234-€47,590▲ 43.2%€49,480within the sector's middle half▲ 4.0%€48,731within the sector's middle half▼ 1.5%€49,092within the sector's middle half▲ 0.7%€61,827within the sector's middle half▲ 25.9%€77,666above the sector's middle half▲ 25.6%€68,559above the sector's middle half▼ 11.7%
Solvency74.4%-75.2%▲ 0.9pp80.0%above the sector's middle half▲ 4.8pp89.9%above the sector's middle half▲ 9.8pp91.5%above the sector's middle half▲ 1.6pp91.4%above the sector's middle half▼ 0.1pp96.0%above the sector's middle half▲ 4.6pp97.4%above the sector's middle half▲ 1.4pp
Current ratio3.72-3.70▼ 0.025.25above the sector's middle half▲ 1.555.66above the sector's middle half▲ 0.415.43above the sector's middle half▼ 0.235.90above the sector's middle half▲ 0.4711.67above the sector's middle half▲ 5.7716.88above the sector's middle half▲ 5.21
Return on assets (ROA)0.9%-7.0%▲ 6.1pp1.2%within the sector's middle half▼ 5.8pp7.5%within the sector's middle half▲ 6.3pp-0.2%below the sector's middle half▼ 7.6pp5.2%within the sector's middle half▲ 5.3pp8.0%within the sector's middle half▲ 2.8pp-7.1%below the sector's middle half▼ 15.1pp
above
within
below
The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). 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 loss of €11,835, after a profit of €22,085 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €167,847
Fixed assets
€94,969 ▼ 2.8%
Current assets
€72,877 ▼ 14.2%
Equity and liabilities €167,847
Equity
€163,529 ▼ 6.8%
Debt
€4,318 ▼ 40.7%
Debt's share of the balance-sheet total falls from 4.0% to 2.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€9,054▼
2024 · €25,805
Cash flow
-€9,106▼
2024 · €18,339
Debt to equity
0.03▼
2024 · 0.04
ROE
-7.3%▼
2024 · 8.3%
Interest coverage
-161.68▼
2024 · 78.96
Debt ≤ 1 year
€4,318▼
2024 · €7,280
Income taxes
€0▼
2024 · €7,173
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 | €1,023 | - | - | - | - |
| Financial fixed assets | €160 | €232 | - | - | €0 |
| Depreciation and write-downs of the year | €4,231 | €4,349 | €4,117 | €3,721 | €2,781 |
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 | - | - | - | - | - | €1,210 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,246 | €4,974 | €4,353 | €4,231 | €4,349 | €4,117 | €3,721 | €2,781 | ▼ 25.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€16,450 | - | - | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | -€3,650 | -€500 | -€2,500 | €0 | - |
| Other operating charges640/8 | - | - | - | €1,957 | €2,001 | €2,089 | €2,128 | €2,229 | ▲ 4.7% |
| Gross operating margin9900 | €7,269 | €27,143 | €6,737 | €8,397 | €2,605 | €19,248 | €25,434 | -€6,825 | - |
| Operating profit (loss)9901 | €2,577 | €20,343 | €3,276 | €18,660 | -€95 | €13,542 | €22,085 | -€11,835 | - |
| Financial income75/76B | - | - | - | €269 | €80 | €103 | €33 | €4 | ▼ 88.1% |
| Recurring financial income75 | €229 | €343 | €137 | €269 | €80 | €103 | €33 | €4 | ▼ 88.1% |
| Financial charges65/66B | - | - | - | €250 | €252 | €252 | €327 | €56 | ▼ 82.9% |
| Recurring financial charges65 | €457 | €533 | €266 | €250 | €252 | €252 | €327 | €56 | ▼ 82.9% |
| Profit (loss) for the period before taxes9903 | €2,349 | €20,154 | €3,147 | €18,679 | -€267 | €13,393 | €21,790 | -€11,887 | - |
| Income taxes67/77 | €799 | €7,420 | €1,038 | €6,025 | - | €4,274 | €7,173 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €1,551 | €12,733 | €2,109 | €12,654 | -€267 | €9,119 | €14,618 | -€11,887 | - |
| Profit (loss) for the period to be appropriated9905 | €1,551 | €12,733 | €2,109 | €12,654 | -€267 | €9,119 | €14,618 | -€11,887 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €167,305 | €182,318 | €174,034 | €169,051 | €165,763 | €175,914 | €182,696 | €167,847 | ▼ 8.1% |
| Fixed assets21/28 | €121,839 | €117,089 | €112,912 | €109,865 | €105,588 | €101,471 | €97,750 | €94,969 | ▼ 2.8% |
| Tangible fixed assets22/27 | €121,839 | €117,089 | €112,912 | €109,705 | €105,356 | €101,239 | €97,518 | €94,737 | ▼ 2.9% |
| Land and buildings22 | - | - | - | €108,326 | €104,724 | €101,121 | €97,518 | €94,737 | ▼ 2.9% |
| Plant, machinery and equipment23 | - | - | - | €1,379 | €632 | €118 | - | - | - |
| Financial fixed assets28 | - | - | - | €160 | €232 | €232 | €232 | €232 | = |
| Current assets29/58 | €45,466 | €65,228 | €61,122 | €59,186 | €60,175 | €74,443 | €84,946 | €72,877 | ▼ 14.2% |
| Stocks and contracts in progress3 | - | - | - | - | - | €1,770 | - | - | - |
| Stocks30/36 | - | - | - | - | - | €1,770 | - | - | - |
| Amounts receivable within one year40/41 | €12,043 | €5,677 | €4,914 | €227 | €368 | €10,255 | €2,816 | €4,230 | ▲ 50.2% |
| Trade receivables40 | - | - | - | €80 | €189 | €3,622 | €2,540 | €2,445 | ▼ 3.7% |
| Other amounts receivable41 | - | - | - | €147 | €179 | €6,633 | €276 | €1,785 | ▲ 548% |
| Cash at bank and in hand54/58 | €31,872 | €58,405 | €55,289 | €58,013 | €58,830 | €61,917 | €81,619 | €68,647 | ▼ 15.9% |
| Deferred charges and accrued income490/1 | - | - | - | €947 | €977 | €500 | €510 | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €167,305 | €182,318 | €174,034 | €169,051 | €165,763 | €175,914 | €182,696 | €167,847 | ▼ 8.1% |
| Equity10/15 | €124,450 | €137,184 | €139,293 | €151,946 | €151,679 | €160,798 | €175,416 | €163,529 | ▼ 6.8% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €11,327 | €24,061 | €24,061 | €24,061 | €24,061 | €33,180 | €47,797 | €47,797 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €22,201 | €22,201 | €33,180 | €47,797 | €47,797 | = |
| Profit (loss) carried forward14 | €94,523 | €94,523 | €96,632 | €109,285 | €109,019 | €109,019 | €109,019 | €97,131 | ▼ 10.9% |
| Provisions and deferred taxes16 | €26,192 | €26,192 | €23,100 | €6,650 | €3,000 | €2,500 | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €6,650 | €3,000 | €2,500 | - | - | - |
| Major repairs and maintenance162 | - | - | - | €6,650 | €3,000 | €2,500 | - | - | - |
| Amounts payable17/49 | €16,663 | €18,942 | €11,642 | €10,455 | €11,084 | €12,616 | €7,280 | €4,318 | ▼ 40.7% |
| Amounts payable after more than one year17 | €4,431 | €1,303 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €12,232 | €17,638 | €11,642 | €10,455 | €11,084 | €12,616 | €7,280 | €4,318 | ▼ 40.7% |
| Trade debts44 | €922 | €5,658 | €996 | €772 | €1,385 | €3,739 | €3,106 | €2,212 | ▼ 28.8% |
| Suppliers440/4 | - | - | - | €772 | €1,385 | €3,739 | €3,106 | €2,212 | ▼ 28.8% |
| Taxes, remuneration and social security45 | - | - | - | €25 | €25 | - | €673 | €673 | = |
| Taxes450/3 | - | - | - | €25 | €25 | - | €673 | €673 | = |
| Other amounts payable47/48 | - | - | - | €9,658 | €9,673 | €8,877 | €3,502 | €1,433 | ▼ 59.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,551 | €12,733 | €2,109 | €12,654 | -€267 | €9,119 | €14,618 | -€11,887 | - |
| + Depreciation and write-downs630 | €5,246 | €4,974 | €4,353 | €4,231 | €4,349 | €4,117 | €3,721 | €2,781 | ▼ 25.3% |
| Operating cash flow (approximation) | €6,797 | €17,707 | €6,462 | €16,884 | €4,083 | €13,235 | €18,339 | -€9,106 | - |
| Investment in fixed assets (approximation) | - | -€224 | -€176 | -€1,183 | -€72 | €0 | €0 | €0 | - |
| Change in cash | - | €26,533 | -€3,117 | €2,724 | €817 | €3,087 | €19,702 | -€12,972 | - |
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, 12,322 companies had the same profile as JANSCO has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of JANSCO 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 12,322 companies, not a prediction for JANSCO. 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 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 13-07-2026 | 2026-00297775 | |
| 31-12-2024 | micro format | 23-06-2025 | 2025-00182321 | |
| 31-12-2023 | micro format | 24-06-2024 | 2024-00165845 | |
| 31-12-2022 | micro format | 03-08-2023 | 2023-00310731 | |
| 31-12-2021 | micro format | 02-06-2022 | 2022-20046153 | |
| 31-12-2020 | micro format | 28-06-2021 | 2021-26200016 | |
| 31-12-2019 | micro format | 16-07-2020 | 2020-31000255 | |
| 31-12-2018 | micro format | 09-07-2019 | 2019-31200188 | |
| 31-12-2017 | micro format | 26-07-2018 | 2018-38100518 | |
| 31-12-2016 | micro format | 11-07-2017 | 2017-30100122 |