JAY CONSTRUCT
Annual accounts 2025
abbreviated format, filed on 16-07-2026, 15 days before the deadlineGross margin
€384,955
▲ 25.2%
Operating result
€16,571
▲ €48,522
Loss
-€3,655
▲ €54,182
Working capital
€284,045
▼ 5.2%
Solvency
9.3%
▲ 0.1 percentage points
Current ratio
1.49
▼ 0.01
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €680,000. Estimated: probably between €520,000 and €1.1m.
Balance sheet
balance sheet total €930,888 on 31-12-2025What the company ownsHow it is paid for
Change in equityin euro
Change in cashin euro
Position in the sector
Solvency9.3%
Higher than 28% of 11,288 companies in 2025.
Current ratio1.49
Higher than 60% of 10,839 companies in 2025.
Return on assets-0.4%
Higher than 35% of 11,173 companies in 2025.
JAY CONSTRUCT
Middle half of the sector
80% of the sector
Abbreviated accounts in real estate (NACE 68)
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: top quarter
Staff
Staff cost per FTE€47,599
Staff costs divided by the average number of full-time equivalents.
Joined and left-3
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||
Total assets20/58 |
930,888 | 981,148 | 1.1m | 1.1m | 1.0m | 1.1m | 943,473 | 1.0m | 1.1m | 1.1m | 1.3m | |
Formation expenses20 |
- | - | - | - | - | 0 | 4,271 | 29,900 | 55,528 | 81,157 | 106,785 | |
Fixed assets21/28 |
63,208 | 77,528 | 75,752 | 26,842 | 30,198 | 44,780 | 77,185 | 134,286 | 174,711 | 203,707 | 344,577 | |
Intangible fixed assets21 |
5,052 | 6,343 | - | 0 | 5,454 | 16,175 | 30,107 | 47,372 | 39,033 | 28,674 | 20,833 | |
Tangible fixed assets22/27 |
57,996 | 71,025 | 75,592 | 26,682 | 24,584 | 28,445 | 46,918 | 86,754 | 135,518 | 174,873 | 216,959 | |
Plant, machinery and equipment23 |
3,968 | 6,269 | 6,266 | 8,590 | 9,931 | 11,603 | 14,548 | 32,728 | 54,771 | 64,828 | 86,469 | |
Furniture and vehicles24 |
17,345 | 23,397 | 24,980 | 0 | 181 | 3,409 | 9,912 | 19,624 | 34,240 | 49,804 | 57,962 | |
Other tangible fixed assets26 |
36,683 | 41,359 | 44,346 | 18,092 | 14,473 | 13,433 | 22,458 | 34,402 | 46,507 | 60,240 | 72,528 | |
Financial fixed assets28 |
160 | 160 | 160 | 160 | 160 | 160 | 160 | 160 | 160 | 160 | - | |
Current assets29/58 |
867,680 | 903,619 | 982,465 | 1.1m | 992,101 | 1.1m | 862,017 | 855,324 | 862,301 | 863,014 | 919,037 | |
Stocks and contracts in progress3 |
760,949 | 783,683 | 803,815 | 813,834 | 789,082 | 619,342 | 674,638 | 683,309 | 698,512 | 689,874 | 616,955 | |
Stocks30/36 |
760,949 | 783,683 | 803,815 | 813,834 | 789,082 | 619,342 | 674,638 | 683,309 | 698,512 | 689,874 | 616,955 | |
Amounts receivable within one year40/41 |
17,840 | 29,365 | 47,153 | 73,580 | 9,465 | 196,818 | 101,531 | 59,992 | 12,190 | 24,881 | 53,773 | |
Trade receivables40 |
17,840 | 29,361 | 37,150 | 62,877 | 9,465 | 40,656 | 28,524 | 29,860 | 10,396 | 17,267 | 53,773 | |
Other amounts receivable41 |
0 | 4 | 10,004 | 10,703 | 0 | 156,161 | 73,006 | 30,131 | 1,794 | 7,614 | - | |
Cash at bank and in hand54/58 |
82,400 | 79,411 | 126,256 | 171,056 | 187,926 | 228,261 | 75,475 | 104,493 | 147,605 | 131,174 | 136,953 | |
Deferred charges and accrued income490/1 |
6,491 | 11,160 | 5,241 | 5,980 | 5,628 | 6,508 | 10,373 | 7,530 | 3,994 | 17,085 | 111,356 | |
| Balance sheet: equity and liabilities | ||||||||||||
Total equity and liabilities10/49 |
930,888 | 981,148 | 1.1m | 1.1m | 1.0m | 1.1m | 943,473 | 1.0m | 1.1m | 1.1m | 1.3m | |
Equity10/15 |
86,201 | 89,856 | 147,693 | 217,425 | 269,313 | 182,839 | 70,688 | 42,041 | 5,624 | 25,282 | 64,481 | |
Contributions10/11 |
50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | |
Issued capital100 |
- | - | - | - | - | - | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | |
Reserves13 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 14,481 | |
Non-distributable reserves130/1 |
- | - | 0 | 5,000 | 5,000 | 5,000 | - | - | - | - | - | |
Legal reserve130 |
- | - | - | - | - | - | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |
Reserves not available under the articles1311 |
- | - | 0 | 5,000 | 5,000 | 5,000 | - | - | - | - | - | |
Distributable reserves133 |
5,000 | 5,000 | 5,000 | - | - | - | - | - | - | - | 9,481 | |
Profit (loss) carried forward14 |
31,201 | 34,856 | 92,693 | 162,425 | 214,313 | 127,839 | 15,688 | -12,959 | -49,377 | -29,718 | - | |
Amounts payable17/49 |
844,687 | 891,291 | 910,524 | 873,867 | 752,986 | 912,870 | 872,786 | 977,469 | 1.1m | 1.1m | 1.2m | |
Amounts payable after more than one year17 |
251,000 | 275,000 | 295,880 | 290,000 | 290,000 | 440,000 | 480,000 | 550,000 | 560,881 | 587,957 | 666,318 | |
Financial debts170/4 |
251,000 | 275,000 | 295,880 | 290,000 | 290,000 | 440,000 | 480,000 | 550,000 | 560,881 | 587,957 | 666,318 | |
Amounts payable within one year42/48 |
583,635 | 604,032 | 604,987 | 581,175 | 461,046 | 432,811 | 388,937 | 423,369 | 521,622 | 528,645 | 527,241 | |
Current portion of amounts payable after more than one year42 |
0 | 5,880 | 5,620 | - | - | - | - | 13,044 | 29,186 | 30,421 | 29,671 | |
Financial debts43 |
125,000 | 125,000 | 100,000 | 50,000 | 0 | 50,000 | 150,000 | 150,000 | 150,000 | 150,000 | 100,000 | |
Credit institutions430/8 |
125,000 | 125,000 | 100,000 | 50,000 | 0 | 50,000 | 150,000 | 150,000 | 150,000 | 150,000 | 100,000 | |
Trade debts44 |
224,852 | 215,374 | 268,727 | 342,233 | 254,904 | 188,004 | 115,898 | 148,528 | 269,468 | 251,298 | 230,479 | |
Suppliers440/4 |
224,852 | 215,374 | 268,727 | 342,233 | 254,904 | 188,004 | 115,898 | 148,528 | 269,468 | 251,298 | 230,479 | |
Advances received on contracts in progress46 |
21,948 | 24,967 | 17,148 | 15,914 | 7,106 | 9,359 | 6,278 | 4,174 | 1,679 | 6,243 | 494 | |
Taxes, remuneration and social security45 |
60,098 | 57,294 | 64,054 | 49,478 | 73,539 | 90,484 | 68,149 | 58,619 | 22,120 | 48,444 | 54,108 | |
Taxes450/3 |
12,249 | 6,525 | 8,160 | 7,068 | 31,592 | 46,746 | 29,212 | 22,317 | 4,595 | 12,931 | 15,338 | |
Remuneration and social security454/9 |
47,849 | 50,769 | 55,894 | 42,410 | 41,947 | 43,738 | 38,937 | 36,302 | 17,526 | 35,513 | 38,770 | |
Other amounts payable47/48 |
151,736 | 175,517 | 149,438 | 123,550 | 125,498 | 94,964 | 48,612 | 49,004 | 49,168 | 42,238 | 112,489 | |
Accrued charges and deferred income492/3 |
10,052 | 12,259 | 9,657 | 2,692 | 1,940 | 40,060 | 3,849 | 4,101 | 4,414 | 5,994 | 5,574 | |
| Income statement | ||||||||||||
Gross operating margin9900 |
384,955 | 307,466 | 280,045 | 286,081 | 415,187 | 451,596 | 433,854 | 358,324 | 348,466 | 380,587 | 296,000 | |
Remuneration, social security and pensions62 |
337,954 | 317,280 | 314,853 | 312,973 | 281,981 | 265,810 | 286,496 | 206,671 | 241,508 | 308,450 | 201,196 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
22,044 | 19,511 | 13,722 | 16,240 | 26,851 | 43,420 | 105,413 | 105,348 | 99,989 | 90,743 | 72,423 | |
Other operating charges640/8 |
8,385 | 2,626 | 2,292 | 2,552 | 3,011 | 1,319 | 1,910 | 1,934 | 12,739 | 1,718 | 1,814 | |
Operating profit (loss)9901 |
16,571 | -31,951 | -50,822 | -45,684 | 103,344 | 141,048 | 40,035 | 44,371 | -5,770 | -20,325 | 20,567 | |
Financial income75/76B |
1,300 | 704 | 560 | 3,193 | 23,165 | 23,073 | 9,012 | 4,956 | 486 | 1,016 | 6,511 | |
Recurring financial income75 |
1,300 | 704 | 560 | 3,193 | 23,165 | 23,073 | 9,012 | 4,956 | 486 | 1,016 | 6,511 | |
Financial charges65/66B |
21,350 | 26,416 | 19,399 | 9,456 | 10,122 | 13,540 | 12,600 | 12,971 | 13,873 | 20,108 | 12,379 | |
Recurring financial charges65 |
21,350 | 26,416 | 19,399 | 9,456 | 10,122 | 13,540 | 12,600 | 12,971 | 13,873 | 20,108 | 12,379 | |
Profit (loss) for the period before taxes9903 |
-3,479 | -57,663 | -69,661 | -51,946 | 116,387 | 150,581 | 36,447 | 36,355 | -19,158 | -39,417 | 14,699 | |
Income taxes67/77 |
176 | 174 | 71 | -58 | 29,913 | 38,429 | 7,800 | -62 | 501 | -218 | 218 | |
Profit (loss) for the period9904 |
-3,655 | -57,837 | -69,732 | -51,888 | 86,474 | 112,152 | 28,647 | 36,417 | -19,658 | -39,199 | 14,481 | |
Profit (loss) for the period to be appropriated9905 |
-3,655 | -57,837 | -69,732 | -51,888 | 86,474 | 112,152 | 28,647 | 36,417 | -19,658 | -39,199 | 14,481 | |
| Appropriation of the result | ||||||||||||
Profit (loss) to be appropriated9906 |
31,201 | 34,856 | 92,693 | 162,425 | 214,313 | 127,839 | 15,688 | -12,959 | -49,377 | -39,199 | 14,481 | |
Profit (loss) brought forward from the previous period14P |
34,856 | 92,693 | 162,425 | 214,313 | 127,839 | - | - | - | - | - | - | |
Transfer from equity791/2 |
- | - | - | - | - | - | - | - | - | 9,481 | - | |
Transfer to equity691/2 |
- | - | - | - | - | - | - | - | - | - | 14,481 | |
To the legal reserve6920 |
- | - | - | - | - | - | - | - | - | - | 5,000 | |
To other reserves6921 |
- | - | - | - | - | - | - | - | - | - | 9,481 | |
| Social balance sheet | ||||||||||||
Average staff (FTE)9087 |
7.1 | 7.1 | 7.2 | 7.2 | 7.2 | 7.6 | 7.5 | 5.9 | 6.3 | 8 | 4.8 | |
Hours worked1013 |
11,826 | 11,206 | 11,917 | 11,896 | 11,713 | 11,494 | 12,966 | 10,007 | 11,133 | 13,995 | 8,238 | |
| Document | ||||||||||||
The notes to these accounts have 20 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 16-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 16-07-2026 | 2026-00308166 | |
| 31-12-2024 | abbreviated format | 14-07-2025 | 2025-00275566 | |
| 31-12-2023 | abbreviated format | 11-07-2024 | 2024-00240086 | |
| 31-12-2022 | abbreviated format | 26-09-2023 | 2023-00454275 | |
| 31-12-2021 | abbreviated format | 30-06-2022 | 2022-20128905 | |
| 31-12-2020 | abbreviated format | 27-08-2021 | 2021-56600497 | |
| 31-12-2019 | abbreviated format | 16-07-2020 | 2020-31100197 | |
| 31-12-2018 | abbreviated format | 19-07-2019 | 2019-35500405 | |
| 31-12-2017 | abbreviated format | 27-08-2018 | 2018-51200434 | |
| 31-12-2016 | abbreviated format | 31-07-2017 | 2017-39400202 | |
| 31-12-2015 | abbreviated format | 28-07-2016 | 2016-37300575 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 38,615 | -12,440 | -37,101 | -29,444 | 130,196 | 184,468 | 145,448 | 149,719 | 94,219 | 70,418 | 92,990 | |
| Cash flow | 18,388 | -38,326 | -56,010 | -35,648 | 113,325 | 155,571 | 134,060 | 141,765 | 80,331 | 51,545 | 86,904 | |
| Investment in fixed assets | 7,723 | 21,287 | 62,632 | 12,884 | 12,269 | 6,744 | 22,684 | 39,294 | 55,363 | 31,030 | 288,858 | |
| Change in cash | 2,989 | -46,846 | -44,799 | -16,871 | -40,335 | 152,786 | -29,018 | -43,112 | 16,432 | -5,779 | - | |
| Working capital | 284,045 | 299,587 | 377,478 | 483,275 | 531,055 | 618,118 | 473,080 | 431,956 | 340,679 | 334,369 | 391,796 | |
| Solvency | 9.3% | 9.2% | 14.0% | 19.9% | 26.3% | 16.7% | 7.5% | 4.1% | 0.5% | 2.2% | 5.1% | |
| Current ratio | 1.49 | 1.50 | 1.62 | 1.83 | 2.15 | 2.43 | 2.22 | 2.02 | 1.65 | 1.63 | 1.74 | |
| Quick ratio | 0.18 | 0.20 | 0.30 | 0.43 | 0.44 | 1.00 | 0.48 | 0.41 | 0.31 | 0.33 | 0.57 | |
| Debt to equity | 9.80 | 9.92 | 6.16 | 4.02 | 2.80 | 4.99 | 12.35 | 23.25 | - | 44.40 | 18.60 | |
| ROE | -4.2% | -64.4% | -47.2% | -23.9% | 32.1% | 61.3% | 40.5% | 86.6% | -349.6% | -155.0% | 22.5% | |
| ROA | -0.4% | -5.9% | -6.6% | -4.8% | 8.5% | 10.2% | 3.0% | 3.6% | -1.8% | -3.4% | 1.1% | |
| Interest coverage | 1.81 | -0.47 | -1.91 | -3.11 | 12.86 | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 6 | 9 | 8 | 7 | 8 |
| full-time | 6 | 6 | 5 | 6 | 7 |
| part-time | 0 | 3 | 3 | 1 | 1 |
| in full-time equivalents | 6 | 7.8 | 7.2 | 6.8 | 7.2 |
| Average over the year, in full-time equivalents | 7.1 | 7.1 | 7.2 | 7.2 | 7.2 |
| On a permanent contract | 5 | 7 | 6 | 5 | 8 |
| Joined | 4 | 19 | 2 | 6 | 10 |
| Left | 7 | 18 | 1 | 7 | 10 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Pledge on the business | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,723 | €14,830 | €62,632 | €12,884 | €12,269 |
| Intangible fixed assets | - | €6,456 | - | - | - |
| Financial fixed assets | €0 | - | - | - | - |
| Depreciation and write-downs of the year | €22,044 | €19,511 | €13,722 | €16,240 | €26,851 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on JAY CONSTRUCT
The operating result for 2025 is a profit of €16,571, after a loss of €31,951 in 2024. It is the highest result since 2021.
Debt's share of the balance-sheet total falls from 90.8% to 90.7%. Equity and debt are lower.