JDS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 09-07-2026 at the NBB all 25 filings
Turnover
≈ €18,000
Estimated: probably between €12,000 and €28,000
Total assets
€197,771▲ 1.2%
2024 · €195,512
Net result
€2,260▼ 38.4%
2024 · €3,671
Working capital
€169,380
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€3,091
▼ 37.3%
2025
20182025
Net result
€2,260
▼ 38.4%
2025
lowest quarter of the sector
20182025
Equity
€176,201
▲ 1.3%
2025
middle half of the sector
20182025
Total assets
€197,771
▲ 1.2%
2025
middle half of the sector
20182025
Debt
€21,570
=
2025
20182025
Working capital
no figure
2025
20182025
Solvency
89.1%
▲ 0.1pp
2025
highest quarter of the sector
20182025
Return on assets (ROA)
1.1%
▼ 0.7pp
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€10,069-€11,296▲ 12.2%€9,098▼ 19.5%€11,698▲ 28.6%€6,778▼ 42.1%€4,039▼ 40.4%€4,933▲ 22.1%€3,091▼ 37.3%
Net result€7,069-€7,903▲ 11.8%€6,795within the sector's middle half▼ 14.0%€8,745within the sector's middle half▲ 28.7%€5,066below the sector's middle half▼ 42.1%€2,990below the sector's middle half▼ 41.0%€3,671below the sector's middle half▲ 22.8%€2,260below the sector's middle half▼ 38.4%
Equity€161,478-€169,380▲ 4.9%€176,175within the sector's middle half▲ 4.0%€184,921within the sector's middle half▲ 5.0%€189,987within the sector's middle half▲ 2.7%€192,977within the sector's middle half▲ 1.6%€173,941within the sector's middle half▼ 9.9%€176,201within the sector's middle half▲ 1.3%
Total assets€161,478-€169,751▲ 5.1%€176,175within the sector's middle half▲ 3.8%€184,921within the sector's middle half▲ 5.0%€189,987within the sector's middle half▲ 2.7%€192,977within the sector's middle half▲ 1.6%€195,512within the sector's middle half▲ 1.3%€197,771within the sector's middle half▲ 1.2%
Debt€370€21,570€21,570=
Working capital€169,380
Solvency100.0%-99.8%▼ 0.2pp100.0%above the sector's middle half▲ 0.2pp100.0%above the sector's middle half=100.0%above the sector's middle half=100.0%above the sector's middle half=89.0%above the sector's middle half▼ 11.0pp89.1%above the sector's middle half▲ 0.1pp
Return on assets (ROA)4.4%-4.7%▲ 0.3pp3.9%within the sector's middle half▼ 0.8pp4.7%within the sector's middle half▲ 0.9pp2.7%below the sector's middle half▼ 2.1pp1.5%below the sector's middle half▼ 1.1pp1.9%below the sector's middle half▲ 0.3pp1.1%below the sector's middle half▼ 0.7pp
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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 37% lower than in 2024 and the lowest since 2021.
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
Equity and liabilities €197,771
Equity
€176,201 ▲ 1.3%
Debt
€21,570 =
Debt's share of the balance-sheet total falls from 11.0% to 10.9%. Equity is higher.
Key figures and ratios
Debt to equity
0.12▼
2024 · 0.12
ROE
1.3%▼
2024 · 2.1%
Debt > 1 year
€21,570=
2024 · €21,570
Income taxes
€795▼
2024 · €1,227
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €1,158 awarded · €1,158 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €443 | €443 |
| 2024 | 1 | €218 | €218 |
| 2023 | 1 | €252 | €252 |
| 2022 | 1 | €245 | €245 |
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 | €367 | €367 | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €503 | €507 | €557 | €569 | €585 | ▲ 2.9% |
| Gross operating margin9900 | €10,985 | €12,233 | €9,618 | €12,201 | €7,284 | €4,596 | €5,503 | €3,677 | ▼ 33.2% |
| Operating profit (loss)9901 | €10,069 | €11,296 | €9,098 | €11,698 | €6,778 | €4,039 | €4,933 | €3,091 | ▼ 37.3% |
| Financial charges65/66B | - | - | - | €30 | €32 | €39 | €36 | €37 | ▲ 3.4% |
| Recurring financial charges65 | €20 | €23 | €30 | €30 | €32 | €39 | €36 | €37 | ▲ 3.4% |
| Profit (loss) for the period before taxes9903 | €10,049 | €11,273 | €9,068 | €11,667 | €6,745 | €4,000 | €4,898 | €3,054 | ▼ 37.6% |
| Income taxes67/77 | €2,981 | €3,370 | €2,273 | €2,922 | €1,679 | €1,010 | €1,227 | €795 | ▼ 35.2% |
| Profit (loss) for the period9904 | €7,069 | €7,903 | €6,795 | €8,745 | €5,066 | €2,990 | €3,671 | €2,260 | ▼ 38.4% |
| Profit (loss) for the period to be appropriated9905 | €7,069 | €7,903 | €6,795 | €8,745 | €5,066 | €2,990 | €3,671 | €2,260 | ▼ 38.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €161,478 | €169,751 | €176,175 | €184,921 | €189,987 | €192,977 | €195,512 | €197,771 | ▲ 1.2% |
| Fixed assets21/28 | €367 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €367 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €161,110 | €169,751 | €176,175 | €184,921 | €189,987 | €192,977 | €195,512 | €197,771 | ▲ 1.2% |
| Amounts receivable after more than one year29 | - | - | - | €153,000 | €160,000 | €162,000 | €162,000 | €162,000 | = |
| Other amounts receivable291 | - | - | - | €153,000 | €160,000 | €162,000 | €162,000 | €162,000 | = |
| Amounts receivable within one year40/41 | €1,805 | €2,568 | €1,674 | €1,691 | €2,968 | €3,388 | €1,328 | €1,607 | ▲ 21.0% |
| Trade receivables40 | - | - | - | €1,210 | €1,210 | €1,210 | €605 | €484 | ▼ 20.0% |
| Other amounts receivable41 | - | - | - | €481 | €1,758 | €2,178 | €723 | €1,123 | ▲ 55.2% |
| Cash at bank and in hand54/58 | €63,305 | €70,183 | €74,501 | €30,229 | €27,018 | €27,589 | €32,183 | €34,164 | ▲ 6.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €161,478 | €169,751 | €176,175 | €184,921 | €189,987 | €192,977 | €195,512 | €197,771 | ▲ 1.2% |
| Equity10/15 | €161,478 | €169,380 | €176,175 | €184,921 | €189,987 | €192,977 | €173,941 | €176,201 | ▲ 1.3% |
| Contributions10/11 | €112,750 | €112,750 | - | €112,750 | €112,750 | €112,750 | €112,750 | €112,750 | = |
| Reserves13 | €48,728 | €56,630 | €63,425 | €72,171 | €77,237 | €80,227 | €61,191 | €63,451 | ▲ 3.7% |
| Non-distributable reserves130/1 | - | - | - | €11,275 | €11,275 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €11,275 | €11,275 | - | - | - | - |
| Distributable reserves133 | - | - | - | €60,896 | €65,962 | €80,227 | €61,191 | €63,451 | ▲ 3.7% |
| Amounts payable17/49 | - | €370 | - | - | - | - | €21,570 | €21,570 | = |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €21,570 | €21,570 | = |
| Other amounts payable178/9 | - | - | - | - | - | - | €21,570 | €21,570 | = |
| Amounts payable within one year42/48 | - | €370 | - | - | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,069 | €7,903 | €6,795 | €8,745 | €5,066 | €2,990 | €3,671 | €2,260 | ▼ 38.4% |
| + Depreciation and write-downs630 | €367 | €367 | - | - | - | - | - | - | - |
| Operating cash flow (approximation) | €7,436 | €8,270 | €6,795 | €8,745 | €5,066 | €2,990 | €3,671 | €2,260 | ▼ 38.4% |
| Change in cash | - | €6,878 | €4,318 | -€44,272 | -€3,211 | €570 | €4,595 | €1,981 | ▼ 56.9% |
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, 17,041 companies had the same profile as JDS has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of JDS 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 17,041 companies, not a prediction for JDS. 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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-07-2026 | 2026-00274120 | |
| 31-12-2024 | micro format | 01-07-2025 | 2025-00218776 | |
| 31-12-2023 | micro format | 02-07-2024 | 2024-00196265 | |
| 31-12-2022 | micro format | 03-07-2023 | 2023-00197318 | |
| 31-12-2021 | micro format | 05-07-2022 | 2022-20159421 | |
| 31-12-2020 | micro format | 28-06-2021 | 2021-25700362 | |
| 31-12-2019 | abbreviated format | 29-06-2020 | 2020-22000280 | |
| 31-12-2018 | abbreviated format | 08-07-2019 | 2019-29900251 | |
| 31-12-2017 | micro format | 26-06-2018 | 2018-25600584 | |
| 31-12-2016 | micro format | 27-06-2017 | 2017-23000241 |