Equity
Equity rose in 2025 from €108,227 to €223,900.
The dashed line is the sector median: 0.4% across 26,896 companies (NACE 46, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 90% of them on solvency, 60% on liquidity, 95% on profitability and 94% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 34,693 companies had the same profile as JETSTONE has now. Each dot stands for 87 companies, two years later.
That fits the bankruptcy probability of JETSTONE itself: 0.2% within 12 months.
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 34,693 companies, not a prediction for JETSTONE. 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.
Liquidity is ample, with a current ratio of 6.59 (1.83 in 2024), above the usual 1.5. Short-term debt is 10.8% and cash 3.9% of total assets. 10.9% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 13 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| JETSTONE Kalmthout | €251,171 | €184,699 | 89.1% | 0 |
| Vismara Belgio Aalst | €171,800 | €107,445 | 24.8% | 1 |
| Vitrea Hasselt | €250,652 | €185,528 | 66.6% | 1 |
| EXOTT Woluwe-Saint-Lambert | €681,493 | €331,811 | 42.1% | 0.6 |
| GREEN PERFORMANCE Lasne | €249,148 | €156,891 | 9.7% | - |
| VINCENTI Mons | €227,633 | €150,108 | 84.0% | - |
| MICHEL INVEST Hasselt | €341,327 | €133,583 | 61.2% | - |
These companies have the same main activity as JETSTONE: agents in the wholesale of timber and building materials (NACE 46130). They are comparable in size and age: total assets between €172,000 and €681,000, founded between 2010 and 2019.
JETSTONE files the abbreviated format. That format states no turnover. The gross margin rose from -€117,739 in 2015 to €184,699 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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