Losses
Every financial year from 2023 to 2025 closed with a loss. 2023 was the heaviest.
Every financial year from 2023 to 2025 closed with a loss. 2023 was the heaviest.
The last five annual accounts were filed 4 to 44 days before the end of the period.
Lower net result than 80% of companies in architecture and engineering. Sector median €16,709 · 11,795 companies.
The dashed line is the sector median: 0.1% across 14,828 companies (NACE 71, micro).
Fewer than 1 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 71, micro). It does better than 47% of them on solvency, 43% on liquidity, 18% on profitability and 37% on growth.
The bankruptcy probability was computed on 09-11-2026 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 30-06-2025.
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, 6,908 companies had the same profile as JGB MANAGEMENT has now. Each dot stands for 18 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of JGB MANAGEMENT itself is lower: < 0.1% within 12 months. It rests on far more data about JGB MANAGEMENT than the profile alone.
The method was tested on the 497,447 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 6,908 companies, not a prediction for JGB MANAGEMENT. 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 insufficient, with a current ratio of 0.52 (0.52 in 2024), below 1. Short-term debt is 50.2% and cash 26% of total assets. 50.2% 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 21 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| JGB MANAGEMENT Malle | €190,381 | €8,788 | 49.8% | - |
| RESEARCH & DEVELOPMENT Verviers | €223,175 | €7,886 | -20.6% | - |
| LingK Niel | €191,636 | €12,615 | 53.0% | - |
| I-MOSS Bertem | €136,324 | €8,941 | 95.5% | - |
| RESEARCH & GENERAL ENGINEERING Koekelare | €270,580 | €8,153 | 10.7% | - |
| STANNE Thuin | €162,671 | €9,613 | 17.3% | - |
| PATRIOS Ghent | €256,372 | €6,792 | 83.8% | - |
These companies have the same main activity as JGB MANAGEMENT: engineering and related technical consultancy, excluding land surveyors (NACE 71121). They are comparable in size and age: total assets between €136,000 and €271,000, founded between 2010 and 2014.
JGB MANAGEMENT files the micro format. That format states no turnover. The gross margin fell from €19,235 in 2012 to €8,788 in 2025.
The balance sheet grew most from 2013 to 2015 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €39,000. Estimated: probably between €27,000 and €74,000.
Higher than 46% of 11,794 companies in 2025.
Higher than 8% of 11,521 companies in 2025.
Higher than 19% of 11,605 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||
20/58 |
190,381 | 199,159 | 205,669 | 231,298 | 231,954 | 231,221 | 240,232 | 248,736 | 247,266 | 277,114 | 246,812 | 231,766 | 224,897 | 24,537 | |
21/28 |
140,331 | 145,529 | 150,728 | 154,835 | 155,704 | 161,074 | 166,443 | 170,808 | 177,023 | 181,575 | 185,439 | 187,811 | 193,553 | 2,000 | |
22/27 |
140,331 | 145,529 | 150,728 | 154,835 | 155,704 | 161,074 | 166,443 | 170,808 | 177,023 | 181,575 | 185,439 | 187,811 | 193,553 | 2,000 | |
22 |
133,152 | 138,059 | 142,965 | 148,335 | 153,704 | 159,074 | 164,443 | 168,253 | 173,914 | 179,575 | 185,236 | 187,126 | 192,033 | - | |
23 |
0 | 0 | - | - | - | - | - | - | - | - | 203 | 507 | 811 | 1,115 | |
24 |
679 | 971 | 1,262 | - | - | - | - | 554 | 1,109 | - | 0 | 177 | 709 | 885 | |
26 |
6,500 | 6,500 | 6,500 | 6,500 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | - | - | - | - | |
29/58 |
50,050 | 53,630 | 54,942 | 76,463 | 76,250 | 70,147 | 73,789 | 77,928 | 70,243 | 95,538 | 61,373 | 43,955 | 31,344 | 22,537 | |
40/41 |
115 | 165 | 500 | 1,048 | 1,000 | 2,299 | 2,344 | 21,124 | 13,430 | 908 | 758 | 2,606 | 27,969 | 3,131 | |
40 |
115 | 165 | 500 | 1,048 | 1,000 | 2,299 | 932 | 15,308 | 1,755 | 908 | 758 | 2,606 | 27,969 | 1,210 | |
41 |
- | - | - | - | - | - | 1,412 | 5,817 | 11,675 | - | - | - | - | 1,921 | |
54/58 |
49,463 | 52,730 | 53,719 | 75,019 | 74,799 | 67,454 | 70,664 | 56,272 | 56,813 | 94,631 | 59,029 | 39,578 | 1,256 | 19,406 | |
490/1 |
472 | 735 | 723 | 396 | 451 | 394 | 782 | 531 | - | - | 1,587 | 1,771 | 2,119 | - | |
| Balance sheet: equity and liabilities | |||||||||||||||
10/49 |
190,381 | 199,159 | 205,669 | 231,298 | 231,954 | 231,221 | 240,232 | 248,736 | 247,266 | 277,114 | 246,812 | 231,766 | 224,897 | 24,537 | |
10/15 |
94,861 | 95,383 | 100,447 | 107,668 | 98,141 | 90,513 | 93,556 | 95,473 | 90,847 | 95,464 | 67,133 | 47,193 | 33,025 | 17,957 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | - | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
11 |
- | - | - | - | - | 6,200 | - | - | - | - | - | - | - | - | |
1100/10 |
- | - | - | - | - | 6,200 | - | - | - | - | - | - | - | - | |
13 |
71,912 | 71,912 | 71,912 | 71,912 | 62,385 | 54,756 | 54,756 | 54,756 | 50,131 | 50,131 | 21,800 | 1,860 | 1,860 | 1,860 | |
130/1 |
997 | 997 | 997 | 2,857 | 2,857 | 1,860 | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | 997 | 2,857 | 2,857 | 2,857 | 2,857 | 2,857 | 1,860 | 1,860 | 1,860 | |
1311 |
997 | 997 | 997 | 997 | 997 | - | - | - | - | - | - | - | - | - | |
1319 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | |
133 |
70,915 | 70,915 | 70,915 | 69,055 | 59,528 | 51,899 | 51,899 | 51,899 | 47,274 | 47,274 | 18,943 | - | - | - | |
14 |
16,749 | 17,271 | 22,335 | 29,556 | 29,556 | 29,556 | 32,600 | 34,516 | 34,516 | 39,133 | 39,133 | 39,133 | 24,965 | 9,897 | |
17/49 |
95,520 | 103,776 | 105,222 | 123,629 | 133,813 | 140,708 | 146,676 | 153,263 | 156,419 | 181,650 | 179,679 | 184,573 | 191,872 | 6,580 | |
17 |
- | - | - | - | 106,388 | 130,133 | 136,653 | 142,954 | 149,045 | 154,933 | 160,624 | 166,124 | 171,441 | - | |
170/4 |
- | - | - | - | 6,388 | 13,133 | 19,653 | 25,954 | 32,045 | 37,933 | 43,624 | 49,124 | 54,441 | - | |
178/9 |
- | - | - | - | 100,000 | 117,000 | 117,000 | 117,000 | 117,000 | 117,000 | 117,000 | 117,000 | 117,000 | - | |
42/48 |
95,520 | 103,776 | 105,222 | 123,629 | 27,425 | 9,925 | 9,373 | 9,659 | 7,280 | 26,057 | 16,935 | 16,203 | 18,176 | 6,580 | |
42 |
- | - | - | 106,388 | 6,745 | 6,520 | 6,302 | 6,091 | 5,887 | 5,691 | 7,088 | 7,088 | 7,678 | - | |
44 |
1,757 | 2,081 | 1,709 | 1,942 | 1,513 | 1,342 | 1,321 | 1,313 | 374 | 457 | 1,200 | 1,292 | 1,099 | 390 | |
440/4 |
1,757 | 2,081 | 1,709 | 1,942 | 1,513 | 1,342 | 1,321 | 1,313 | 374 | 457 | 1,200 | 1,292 | 1,099 | 390 | |
45 |
881 | 2,092 | 623 | 5,295 | 2,553 | 736 | 368 | 365 | 363 | 18,443 | 8,637 | 7,813 | 9,398 | 6,190 | |
450/3 |
881 | 2,092 | 623 | 5,295 | 2,553 | 736 | 368 | 365 | 363 | 18,443 | 8,637 | 7,813 | 9,398 | 6,190 | |
47/48 |
92,882 | 99,603 | 102,890 | 10,005 | 16,614 | 1,327 | 1,383 | 1,889 | 655 | 1,466 | 10 | 10 | - | - | |
492/3 |
- | - | - | - | - | 650 | 650 | 650 | 94 | 660 | 2,120 | 2,246 | 2,255 | - | |
| Income statement | |||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 28,329 | |
9900 |
8,788 | 8,332 | 4,741 | 25,781 | 21,565 | 9,264 | 11,251 | 18,441 | 8,461 | 58,836 | 46,408 | 34,158 | 34,891 | 19,235 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 9,094 | |
630 |
5,199 | 5,199 | 5,566 | 5,369 | 5,369 | 5,369 | 6,678 | 6,215 | 6,215 | 5,864 | 6,142 | 5,742 | 9,479 | 1,114 | |
640/8 |
1,089 | 1,080 | 1,030 | 946 | 937 | 1,318 | 616 | 1,020 | 816 | 813 | 812 | 440 | 369 | 56 | |
9901 |
2,501 | 2,054 | -1,854 | 19,466 | 15,259 | 2,577 | 3,957 | 11,205 | 1,430 | 52,160 | 39,454 | 27,976 | 25,043 | 18,065 | |
75/76B |
51 | 0 | 4 | - | 23 | 0 | 10 | 111 | 209 | 780 | 21 | 76 | 366 | 53 | |
75 |
51 | 0 | 4 | - | 23 | 0 | 10 | 111 | 209 | 780 | 21 | 76 | 366 | 53 | |
65/66B |
3,074 | 7,118 | 5,371 | 5,123 | 5,464 | 5,621 | 5,884 | 6,078 | 6,256 | 6,344 | 6,722 | 7,012 | 2,674 | 171 | |
65 |
3,074 | 7,118 | 5,371 | 5,123 | 5,464 | 5,621 | 5,884 | 6,078 | 6,256 | 6,344 | 6,722 | 7,012 | 2,674 | 171 | |
9903 |
-522 | -5,064 | -7,221 | 14,342 | 9,818 | -3,044 | -1,916 | 5,238 | -4,617 | 46,595 | 32,754 | 21,040 | 22,734 | 17,947 | |
67/77 |
- | 0 | - | 4,815 | 2,190 | - | 0 | 613 | 0 | 18,265 | 12,813 | 6,872 | 7,666 | 6,191 | |
9904 |
-522 | -5,064 | -7,221 | 9,528 | 7,628 | -3,044 | -1,916 | 4,626 | -4,617 | 28,331 | 19,940 | 14,168 | 15,069 | 11,757 | |
9905 |
-522 | -5,064 | -7,221 | 9,528 | 7,628 | -3,044 | -1,916 | 4,626 | -4,617 | 28,331 | 19,940 | 14,168 | 15,069 | 11,757 | |
| Appropriation of the result | |||||||||||||||
9906 |
16,749 | 17,271 | 22,335 | 39,084 | 37,184 | 29,556 | 32,600 | 39,142 | 34,516 | 67,464 | 59,073 | 39,133 | 24,965 | 11,757 | |
14P |
17,271 | 22,335 | 29,556 | 29,556 | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | 9,528 | 7,628 | - | - | 4,626 | - | 28,331 | 19,940 | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | 997 | - | - | 1,860 | |
6921 |
- | - | - | 9,528 | 7,628 | - | - | 4,626 | - | 28,331 | 18,943 | - | - | - | |
| Document | |||||||||||||||
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 08-01-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 08-01-2026 | 2026-00004226 | |
| 30-06-2024 | micro format | 19-12-2024 | 2024-00625717 | |
| 30-06-2023 | micro format | 18-12-2023 | 2023-00533417 | |
| 30-06-2022 | micro format | 27-01-2023 | 2023-00015263 | |
| 30-06-2021 | micro format | 24-01-2022 | 2022-01800465 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-03100077 | |
| 30-06-2019 | micro format | 06-01-2020 | 2020-00300277 | |
| 30-06-2018 | micro format | 17-12-2018 | 2018-74600557 | |
| 30-06-2017 | micro format | 04-01-2018 | 2018-00300242 | |
| 30-06-2016 | abbreviated format | 20-12-2016 | 2016-70900401 | |
| 30-06-2015 | abbreviated format | 29-01-2016 | 2016-03600064 | |
| 30-06-2014 | abbreviated format | 29-12-2014 | 2014-71000092 | |
| 30-06-2013 | abbreviated format | 14-02-2014 | 2014-03800249 | |
| 30-06-2012 | abbreviated format | 03-01-2013 | 2013-00300046 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7,699 | 7,252 | 3,712 | 24,835 | 20,628 | 7,946 | 10,635 | 17,421 | 7,646 | 58,023 | 45,597 | 33,718 | 34,522 | 19,179 | ||
| 4,676 | 134 | -1,655 | 14,897 | 12,997 | 2,326 | 4,762 | 10,841 | 1,599 | 34,194 | 26,083 | 19,910 | 24,548 | 12,870 | ||
| 0 | 0 | 1,459 | 4,500 | 0 | 0 | 2,313 | 0 | 1,663 | 2,000 | 3,770 | 0 | 201,032 | 3,114 | ||
| -3,266 | -989 | -21,300 | 220 | 7,344 | -3,209 | 14,391 | -541 | -37,818 | 35,602 | 19,450 | 38,323 | -18,150 | - | ||
| -45,470 | -50,146 | -50,281 | -47,166 | 48,825 | 60,222 | 64,416 | 68,269 | 62,963 | 69,482 | 44,439 | 27,753 | 13,168 | 15,956 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 63.8% | ||
| 49.8% | 47.9% | 48.8% | 46.5% | 42.3% | 39.1% | 38.9% | 38.4% | 36.7% | 34.4% | 27.2% | 20.4% | 14.7% | 73.2% | ||
| 0.52 | 0.52 | 0.52 | 0.62 | 2.78 | 7.07 | 7.87 | 8.07 | 9.65 | 3.67 | 3.62 | 2.71 | 1.72 | 3.42 | ||
| 1.01 | 1.09 | 1.05 | 1.15 | 1.36 | 1.55 | 1.57 | 1.61 | 1.72 | 1.90 | 2.68 | 3.91 | 5.81 | 0.37 | ||
| -0.6% | -5.3% | -7.2% | 8.8% | 7.8% | -3.4% | -2.0% | 4.8% | -5.1% | 29.7% | 29.7% | 30.0% | 45.6% | 65.5% | ||
| -0.3% | -2.5% | -3.5% | 4.1% | 3.3% | -1.3% | -0.8% | 1.9% | -1.9% | 10.2% | 8.1% | 6.1% | 6.7% | 47.9% | ||
| 2.50 | 1.02 | 0.69 | 4.85 | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 16 days | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 16 days |
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.
| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €1,459 | €4,500 |
| €5,199 | €5,199 | €5,566 | €5,369 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 22% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 52.1% to 50.2%. Equity and debt are lower.
JGB MANAGEMENT has no parent and no holdings in its annual accounts. JGB MANAGEMENT shares no director with another company.
Deadline for the 2026 accounts: 31-01-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Stekensbergstraat 15 registered office 2390 Malle 4740001 Retail sale of information and communication equipment | 04-03-2011 | 2.197.475.909 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11049B0450/00G002 | 1,515 m² | 1 · 150 m² | 8.7 m · 2 |
If something looks wrong or is missing, please tell us.