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JM CONSTRUCT

Active
Public limited companyfounded 1994active for 32 yearsBroekbergweg 10, 3680 Maaseik, BelgiumKBO/BCE: BE 0452.056.127
Summary

JM CONSTRUCT has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.9m and a net result of -€6,198. Equity is growing by about 23% per year across the filed financial years. Its solvency ranks better than 33% of 826 sector peers (NACE 25, financial year 2025). The computed 12-month bankruptcy probability is 1.0% (low).

Overview

Activity
Manufacture of metal structures and parts of structures
NACE 25110
2nd largest company by total assets in Maaseik, Manufacturing sector1 site
Size
€6.6mturnover 2025
Staff
28 FTE
Equity
€3.9m
Loss
-€6,198
Financial health
66 Healthy Checked score 2025
Bankruptcy probabilitywithin 12 months
1.0%
Structure
Parent
JM HOLDING · 99%
2025 accounts filed 31 days late1 of 9 deeds summarised
Why 66raises riskLiquidity: current ratio 1.41, cash €106,752Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)Last filed accounts filed 31 days late; 1 of the last 3 latelowers riskFounded in 1994Show the evidence

Checked score

Score 2025
66 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 36% of its sector peers (NACE 25, small)
Financial strength · tick = 2024
Average
Solvency 58-1
equity 32.7% of total assets
Liquidity 43-1
short-term debt 23.3% · cash 0.9%
Profitability 68-2
return on assets -0.1%
Bankruptcy probability, 12 months
1.0% Low
0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (749 companies, NACE 25, small)
Last 24 months 11-2024: 1.0% 12-2024: 1.0%● unchanged vs 11-2024 01-2025: 1.0%● unchanged vs 12-2024 02-2025: 1.0%● unchanged vs 01-2025 03-2025: 1.0%● unchanged vs 02-2025 04-2025: 1.0%● unchanged vs 03-2025 05-2025: 1.1%▲ +0.1 percentage points vs 04-2025 06-2025: 1.1%● unchanged vs 05-2025 07-2025: 1.3%▲ +0.2 percentage points vs 06-2025 08-2025: 0.6%▼ -0.7 percentage points vs 07-2025 09-2025: 0.6%● unchanged vs 08-2025 10-2025: 0.6%● unchanged vs 09-2025 11-2025: 0.6%● unchanged vs 10-2025 12-2025: 0.6%● unchanged vs 11-2025 01-2026: 0.6%● unchanged vs 12-2025 02-2026: 0.6%● unchanged vs 01-2026lowest value 03-2026: 0.6%● unchanged vs 02-2026 04-2026: 0.6%● unchanged vs 03-2026 05-2026: 0.7%▲ +0.1 percentage points vs 04-2026 06-2026: 0.7%● unchanged vs 05-2026 07-2026: 0.7%● unchanged vs 06-2026 08-2026: 1.4%▲ +0.7 percentage points vs 07-2026highest value 09-2026: 1.0%▼ -0.4 percentage points vs 08-2026 10-2026: 1.0%● unchanged vs 09-2026
Credit of up to €250,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.41, compared with 1.26 in 2024, below the usual 1.5; short-term debt: 23.3% and cash: 0.9% of total assets), and 67.3% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 25, small): better than 35% on solvency, 45% on liquidity, 41% on profitability and 24% on growth.

The bankruptcy probability was computed on 25-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Show the recommended maximum and see how the verdict changes with amount, term and advance.

Signals

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 1.41, cash €106,752
NBB · annual accounts
raises risk · Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
KBO
lowers risk · Founded in 1994
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
raises risk · Last filed accounts filed 31 days late; 1 of the last 3 late
NBB · filings
neutral · A punctual record breaks
This company filed 7 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filings
Deviation from the deadline
2025
31 days late
2024
7 days early
2023
20 days early
2022
31 days early
2021
31 days early
2020
30 days early
2019
36 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 18 days before the deadline; the sector median (NACE 25) for financial year 2024 is 8 days before the deadline, and 35% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 12 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
26-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Annual accounts filedfinancial year 2024 · full…
  3. Weakest financial yearnet -€34,436

Financials · financial year 2025, full format

2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00461800.

Turnover
€6.6m▼ 13.0%
2024 · €7.6m
EBIT margin
4.8%▲ 1.5pp
2024 · 3.3%
Net result
-€6,198▲ 82.0%
2024 · -€34,436
Working capital
€1.1m▲ 78.9%
2024 · €633,225
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result recovers in 2025; 2025 is 27% above 2024.

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Turnover€6.6m 2025 Operating result€0.3m 2025 Net result-€0.006m 2025

Use the arrow keys on the chart for the figures per year.

Sector: the middle half of NACE 25, Manufacture of fabricated metal products, except machinery and equipment: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€9.6m€7.6m▼ 21.0%€6.6m▼ 13.0%
Operating result€0.4m-€0.5m▲ 30.2%€0.3m▼ 26.7%€0.3m▼ 17.0%€0.2m▼ 32.7%€0.6m▲ 207%€0.2m▼ 57.0%€0.3m▲ 27.2%
Net result€0.3m-€0.3m▲ 11.0%€0.2mabove the sector's middle half▼ 15.7%€0.2mwithin the sector's middle half▼ 36.5%€0.08mwithin the sector's middle half▼ 50.0%€0.3mwithin the sector's middle half▲ 262%-€0.03mbelow the sector's middle half-€0.006mbelow the sector's middle half▲ 82.0%
EBIT margin6.1%3.3%▼ 2.8pp4.8%▲ 1.5pp
Equity€0.8m-€1.1m▲ 34.9%€1.4mabove the sector's middle half▲ 21.8%€1.5mabove the sector's middle half▲ 11.4%€1.6mabove the sector's middle half▲ 5.1%€1.9mwithin the sector's middle half▲ 17.6%€3.9mwithin the sector's middle half▲ 107%€3.9mabove the sector's middle half▼ 0.2%
Total assets€6.8m-€6.3m▼ 7.9%€7.4mabove the sector's middle half▲ 16.8%€8.0mabove the sector's middle half▲ 8.4%€7.0mabove the sector's middle half▼ 11.9%€11.4mabove the sector's middle half▲ 62.4%€11.5mabove the sector's middle half▲ 1.1%€11.8mabove the sector's middle half▲ 2.5%
Debt€6.0m-€5.2m▼ 13.8%€6.0m▲ 15.7%€6.5m▲ 7.7%€5.4m▼ 16.1%€9.5m▲ 75.8%€7.7m▼ 19.7%€7.9m▲ 3.8%
Working capital€0.4m-€0.8m▲ 97.8%€0.8mabove the sector's middle half▲ 7.3%€0.9mabove the sector's middle half▲ 4.8%€1.1mabove the sector's middle half▲ 24.5%-€0.8mbelow the sector's middle half€0.6mwithin the sector's middle half€1.1mwithin the sector's middle half▲ 78.9%
Solvency12.1%-17.7%▲ 5.6pp18.5%below the sector's middle half▲ 0.8pp19.0%below the sector's middle half▲ 0.5pp22.7%below the sector's middle half▲ 3.7pp16.4%below the sector's middle half▼ 6.3pp33.6%within the sector's middle half▲ 17.2pp32.7%within the sector's middle half▼ 0.9pp
Current ratio1.16-1.44▲ 0.281.36within the sector's middle half▼ 0.081.26within the sector's middle half▼ 0.091.40within the sector's middle half▲ 0.140.84below the sector's middle half▼ 0.561.26within the sector's middle half▲ 0.421.41within the sector's middle half▲ 0.15
Return on assets (ROA)3.8%-4.6%▲ 0.8pp3.3%within the sector's middle half▼ 1.3pp1.9%within the sector's middle half▼ 1.4pp1.1%below the sector's middle half▼ 0.8pp2.5%within the sector's middle half▲ 1.4pp-0.3%below the sector's middle half▼ 2.8pp-0.1%within the sector's middle half▲ 0.2pp
Staff (FTE)24.3-26.2▲ 7.8%26.8above the sector's middle half▲ 2.3%26.9above the sector's middle half▲ 0.4%27.5above the sector's middle half▲ 2.2%32within the sector's middle half▲ 16.4%31.8within the sector's middle half▼ 0.6%28within the sector's middle half▼ 11.9%
above within below the middle half of NACE 25, Manufacture of fabricated metal products, except machinery and equipment: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Why a figure moved sharply
  • 2023 Net result +262% on 2022. The accounts now follow the full format, last year the abbreviated format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.8m
Fixed assets €7.9m ▼ 6.1%
Current assets €3.9m ▲ 26.0%
Equity and liabilities €11.8m
Equity €3.9m ▼ 0.2%
Provisions €5,930 ▼ 33.3%
Debt €7.9m ▲ 3.8%
Debt's share of the balance-sheet total rises from 66.3% to 67.2%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€912,500▼
2024 · €1.1m
Cash flow
€589,235▼
2024 · €841,529
Quick ratio
0.93▲
2024 · 0.78
Debt to equity
2.05▲
2024 · 1.97
ROE
-0.2%▲
2024 · -0.9%
Interest coverage
5.44▼
2024 · 5.62
Debt ≤ 1 year
€2.8m▲
2024 · €2.5m
Debt > 1 year
€5.2m▲
2024 · €5.1m
Income taxes
€77,970▲
2024 · -€12,597
Staff costs
€1.8m▼
2024 · €2.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 8,617 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94.2% are still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a small loss
0.4% went bankrupt
5.2% stopped otherwise
94.2% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 1.0% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 8,617 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 83 lines
Balance sheet Code20242025
Assets
Total assets20/58€11.5m€11.8m▲
Fixed assets21/28€8.5m€7.9m▼
Intangible fixed assets21€0.02m€0.01m▼
Tangible fixed assets22/27€8.4m€7.9m▼
Land and buildings22€0.1m€0.1m▼
Plant, machinery and equipment23€0.6m€0.5m▼
Furniture and vehicles24€0.2m€0.09m▼
Leasing and similar rights25€7.6m€7.3m▼
Current assets29/58€3.1m€3.9m▲
Stocks and contracts in progress3€1.2m€1.3m▲
Stocks30/36€0.3m€0.4m▲
Goods purchased for resale34€0.3m€0.4m▲
Contracts in progress37€0.9m€0.9m▲
Amounts receivable within one year40/41€1.8m€2.3m▲
Trade receivables40€1.5m€2.0m▲
Other amounts receivable41€0.2m€0.3m▲
Cash at bank and in hand54/58€0.08m€0.1m▲
Deferred charges and accrued income490/1€0.04m€0.1m▲
Equity and liabilities
Total equity and liabilities10/49€11.5m€11.8m▲
Equity10/15€3.9m€3.9m▼
Contributions10/11€0.3m€0.3m=
Contributions outside capital11€0.3m€0.3m=
Other1109/19€0.3m€0.3m=
Revaluation surpluses12€2.0m€2.0m=
Reserves13€1.5m€1.5m▼
Non-distributable reserves130/1€0.03m€0.03m=
Reserves not available under the articles1311€0.03m€0.03m=
Tax-exempt reserves132€0.03m€0.02m▼
Distributable reserves133€1.5m€1.5m▼
Profit (loss) carried forward14-€0.03m-
Provisions and deferred taxes16€0.009m€0.006m▼
Deferred taxes168€0.009m€0.006m▼
Amounts payable17/49€7.7m€7.9m▲
Amounts payable after more than one year17€5.1m€5.2m▲
Financial debts170/4€5.1m€5.2m▲
Leasing and similar obligations172€1.8m€1.5m▼
Credit institutions173€3.3m€3.6m▲
Amounts payable within one year42/48€2.5m€2.8m▲
Current portion of amounts payable after more than one year42€1.3m€0.6m▼
Trade debts44€0.5m€1.2m▲
Suppliers440/4€0.5m€1.2m▲
Taxes, remuneration and social security45€0.4m€0.3m▼
Taxes450/3€0.1m€0.1m▼
Remuneration and social security454/9€0.3m€0.2m▼
Other amounts payable47/48€0.2m€0.7m▲
Accrued charges and deferred income492/3€0.09m€0.02m▼
Income statement Code20242025
Operating income70/76A€8.3m€6.9m▼
Turnover70€7.6m€6.6m▼
Change in stocks of work in progress, finished goods and contracts in progress71-€0.4m€0.02m▲
Own construction capitalised72€0.2m-
Other operating income74€0.4m€0.3m▼
Non-recurring operating income76A€0.5m-
Operating charges60/66A€8.1m€6.6m▼
Goods for resale, raw materials and consumables60€3.7m€3.1m▼
Purchases600/8€3.6m€3.2m▼
Change in stocks: decrease (increase)609€0.1m-€0.1m▼
Services and other goods61€1.3m€1.1m▼
Remuneration, social security and pensions62€2.1m€1.8m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.9m€0.6m▼
Provisions for liabilities and charges: additions (uses and reversals)635/8-€0.005m-€0.03m▼
Other operating charges640/8€0.06m€0.1m▲
Non-recurring operating charges66A€0.02m€0.02m▼
Operating profit (loss)9901€0.2m€0.3m▲
Financial income75/76B€0.003m€0.005m▲
Recurring financial income75€0.003m€0.005m▲
Other financial income752/9€0.003m€0.005m▲
Financial charges65/66B€0.3m€0.3m▼
Recurring financial charges65€0.3m€0.3m▼
Debt charges650€0.2m€0.2m▼
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651€0.001m€0.001m▲
Other financial charges652/9€0.1m€0.09m▼
Profit (loss) for the period before taxes9903-€0.05m€0.07m▲
Transfer from deferred taxes780€0.003m€0.003m=
Income taxes67/77-€0.01m€0.08m▲
Taxes670/3€0.008m€0.08m▲
Tax adjustments and reversals of tax provisions77€0.02m-
Profit (loss) for the period9904-€0.03m-€0.006m▲
Transfer from tax-exempt reserves789€0.009m€0.009m=
Profit (loss) for the period to be appropriated9905-€0.03m€0.003m▲
Appropriation of the result
Profit (loss) to be appropriated9906-€0.03m€0.003m▲
Transfer to equity691/2-€0.003m
To other reserves6921-€0.003m
Social balance sheet
Average headcount (FTE)908731.828.0▼

The notes to these accounts (55 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20182019202020212022202320242025Change
Operating income70/76A-----€10.1m€8.3m€6.9m▼ 17.0%
Turnover70-----€9.6m€7.6m€6.6m▼ 13.0%
Change in stocks of work in progress, finished goods and contracts in progress71-----€0.1m-€0.4m€0.02m-
Own construction capitalised72------€0.2m--
Other operating income74-----€0.4m€0.4m€0.3m▼ 22.1%
Non-recurring operating income76A---€0.02m€0.005m€0.01m€0.5m--
Operating charges60/66A-----€9.5m€8.1m€6.6m▼ 18.4%
Goods for resale, raw materials and consumables60-----€5.3m€3.7m€3.1m▼ 17.4%
Purchases600/8-----€5.3m€3.6m€3.2m▼ 11.2%
Change in stocks: decrease (increase)609------€0.07m€0.1m-€0.1m-
Services and other goods61-----€1.5m€1.3m€1.1m▼ 17.4%
Remuneration, social security and pensions62---€1.5m€1.6m€1.9m€2.1m€1.8m▼ 16.9%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.6m€0.7m€0.6m€0.7m€0.7m€0.8m€0.9m€0.6m▼ 32.0%
Provisions for liabilities and charges: additions (uses and reversals)635/8----€0.001m€0.02m€0.03m-€0.005m-€0.03m▼ 392%
Other operating charges640/8---€0.07m€0.1m€0.05m€0.06m€0.1m▲ 85.1%
Non-recurring operating charges66A---€234-€0.001m€0.02m€0.02m▼ 19.9%
Gross operating margin9900€2.3m€2.6m€2.4m€2.5m€2.6m----
Operating profit (loss)9901€0.4m€0.5m€0.3m€0.3m€0.2m€0.6m€0.2m€0.3m▲ 27.2%
Financial income75/76B---€0.001m€136€0.001m€0.003m€0.005m▲ 77.3%
Recurring financial income75-€281€0.001m€0.001m€136€0.001m€0.003m€0.005m▲ 77.3%
Other financial income752/9-----€0.001m€0.003m€0.005m▲ 77.3%
Financial charges65/66B---€0.07m€0.07m€0.2m€0.3m€0.3m▼ 16.2%
Recurring financial charges65€0.07m€0.07m€0.07m€0.07m€0.07m€0.2m€0.3m€0.3m▼ 16.2%
Debt charges650-----€0.04m€0.2m€0.2m▼ 16.2%
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651-----€0.001m€0.001m€0.001m▲ 10.2%
Other financial charges652/9-----€0.2m€0.1m€0.09m▼ 16.2%
Profit (loss) for the period before taxes9903€0.3m€0.4m€0.3m€0.2m€0.1m€0.4m-€0.05m€0.07m-
Transfer from deferred taxes780----€0.006m€0.003m€0.003m€0.003m=
Transfer to deferred taxes680----€0.02m----
Income taxes67/77€0.03m€0.1m€0.02m€0.05m€0.02m€0.08m-€0.01m€0.08m-
Taxes670/3-----€0.08m€0.008m€0.08m▲ 830%
Tax adjustments and reversals of tax provisions77------€0.02m--
Profit (loss) for the period9904€0.3m€0.3m€0.2m€0.2m€0.08m€0.3m-€0.03m-€0.006m▲ 82.0%
Transfer from tax-exempt reserves789----€0.02m€0.009m€0.009m€0.009m=
Transfer to tax-exempt reserves689----€0.06m----
Profit (loss) for the period to be appropriated9905€0.3m€0.3m€0.2m€0.2m€0.03m€0.3m-€0.03m€0.003m-
Line20182019202020212022202320242025Change
Assets
Total assets20/58€6.8m€6.3m€7.4m€8.0m€7.0m€11.4m€11.5m€11.8m▲ 2.5%
Fixed assets21/28€3.9m€3.7m€4.2m€3.7m€3.2m€7.0m€8.5m€7.9m▼ 6.1%
Intangible fixed assets21€0.04m€0.03m€0.005m€0.02m€0.04m€0.04m€0.02m€0.01m▼ 43.6%
Tangible fixed assets22/27€3.9m€3.7m€4.2m€3.7m€3.1m€7.0m€8.4m€7.9m▼ 6.0%
Land and buildings22---€0.2m€0.1m€0.2m€0.1m€0.1m▼ 25.1%
Plant, machinery and equipment23---€0.2m€0.3m€0.3m€0.6m€0.5m▼ 15.6%
Furniture and vehicles24---€0.09m€0.08m€0.2m€0.2m€0.09m▼ 38.8%
Leasing and similar rights25---€3.2m€2.7m€6.3m€7.6m€7.3m▼ 4.3%
Current assets29/58€2.9m€2.6m€3.2m€4.2m€3.9m€4.4m€3.1m€3.9m▲ 26.0%
Stocks and contracts in progress3€0.3m€0.3m€0.3m€1.8m€1.5m€1.6m€1.2m€1.3m▲ 12.6%
Stocks30/36---€0.3m€0.4m€0.4m€0.3m€0.4m▲ 43.0%
Goods purchased for resale34-----€0.4m€0.3m€0.4m▲ 43.0%
Contracts in progress37---€1.5m€1.1m€1.2m€0.9m€0.9m▲ 1.9%
Amounts receivable within one year40/41€1.8m€1.8m€1.8m€2.2m€2.0m€2.4m€1.8m€2.3m▲ 31.2%
Trade receivables40---€1.9m€1.7m€1.7m€1.5m€2.0m▲ 31.7%
Other amounts receivable41---€0.3m€0.3m€0.7m€0.2m€0.3m▲ 27.7%
Cash at bank and in hand54/58€0.1m€0.3m€0.3m€0.2m€0.4m€0.3m€0.08m€0.1m▲ 26.0%
Deferred charges and accrued income490/1---€0.01m€0.02m€0.03m€0.04m€0.1m▲ 204%
Equity and liabilities
Total equity and liabilities10/49€6.8m€6.3m€7.4m€8.0m€7.0m€11.4m€11.5m€11.8m▲ 2.5%
Equity10/15€0.8m€1.1m€1.4m€1.5m€1.6m€1.9m€3.9m€3.9m▼ 0.2%
Contributions10/11€0.3m€0.3m-€0.3m€0.3m€0.3m€0.3m€0.3m=
Contributions outside capital11---€0.3m€0.3m€0.3m€0.3m€0.3m=
Other1109/19---€0.3m€0.3m€0.3m€0.3m€0.3m=
Revaluation surpluses12------€2.0m€2.0m=
Reserves13€0.5m€0.8m€1.0m€1.2m€1.3m€1.5m€1.5m€1.5m▼ 2.1%
Non-distributable reserves130/1---€0.03m€0.03m€0.03m€0.03m€0.03m=
Reserves not available under the articles1311---€0.03m€0.03m€0.03m€0.03m€0.03m=
Tax-exempt reserves132----€0.04m€0.04m€0.03m€0.02m▼ 33.3%
Distributable reserves133---€1.2m€1.2m€1.5m€1.5m€1.5m▼ 1.5%
Profit (loss) carried forward14-------€0.03m--
Provisions and deferred taxes16----€0.01m€0.01m€0.009m€0.006m▼ 33.3%
Deferred taxes168----€0.01m€0.01m€0.009m€0.006m▼ 33.3%
Amounts payable17/49€6.0m€5.2m€6.0m€6.5m€5.4m€9.5m€7.7m€7.9m▲ 3.8%
Amounts payable after more than one year17€3.5m€3.4m€3.6m€3.0m€2.6m€4.3m€5.1m€5.2m▲ 1.2%
Financial debts170/4---€3.0m€2.6m€4.3m€5.1m€5.2m▲ 1.2%
Leasing and similar obligations172-----€2.3m€1.8m€1.5m▼ 15.4%
Credit institutions173-----€1.9m€3.3m€3.6m▲ 10.3%
Amounts payable within one year42/48€2.5m€1.8m€2.4m€3.4m€2.8m€5.2m€2.5m€2.8m▲ 12.3%
Current portion of amounts payable after more than one year42---€1.0m€1.2m€3.7m€1.3m€0.6m▼ 56.7%
Trade debts44€0.8m€0.5m€1.0m€1.8m€1.0m€1.0m€0.5m€1.2m▲ 130%
Suppliers440/4---€1.8m€1.0m€1.0m€0.5m€1.2m▲ 130%
Advances received on contracts in progress46---€0.1m-----
Taxes, remuneration and social security45---€0.2m€0.3m€0.4m€0.4m€0.3m▼ 24.3%
Taxes450/3---€0.05m€0.09m€0.1m€0.1m€0.1m▼ 16.3%
Remuneration and social security454/9---€0.2m€0.2m€0.3m€0.3m€0.2m▼ 27.8%
Other amounts payable47/48---€0.2m€0.2m€0.05m€0.2m€0.7m▲ 223%
Accrued charges and deferred income492/3---€0.08m€0.06m€0.06m€0.09m€0.02m▼ 79.4%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€0.3m€0.3m€0.2m€0.2m€0.08m€0.3m-€0.03m-€0.006m▲ 82.0%
+ Depreciation and write-downs630€0.6m€0.7m€0.6m€0.7m€0.7m€0.8m€0.9m€0.6m▼ 32.0%
Operating cash flow (approximation)€0.9m€1.0m€0.9m€0.8m€0.7m€1.1m€0.8m€0.6m▼ 30.0%
Investment in fixed assets (approximation)--€0.5m-€1.1m-€0.3m-€0.1m-€4.6m-€2.3m-€0.08m▲ 96.6%
Change in cash-€0.2m€0.03m-€0.1m€0.2m-€0.02m-€0.3m€0.02m-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 31 filings with the National Bank
Financial year Type Filed Reference
31-12-2025 full format 31-08-2026 2026-00461800
31-12-2024 full format 24-07-2025 2025-00301943
31-12-2023 full format 11-07-2024 2024-00233837
31-12-2022 abbreviated format 30-06-2023 2023-00179176
31-12-2021 abbreviated format 30-06-2022 2022-20109933
31-12-2020 abbreviated format 01-07-2021 2021-28900234
31-12-2019 abbreviated format 25-06-2020 2020-20600251
31-12-2018 abbreviated format 03-07-2019 2019-28500566
31-12-2017 abbreviated format 08-08-2018 2018-44300597
31-12-2016 abbreviated format 29-06-2017 2017-27700596

Show all 31 filings

Similar companies · same sector, comparable size

Of the 3,952 active companies whose main activity is manufacture of metal structures and parts of structures (NACE 25110), figures are known for 2,170. 756 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector

Subsidies and aid

Flemish government

2022 to 2025 · 8 entries · €19,022 awarded · €18,722 paid
Year Entries AwardedPaid
2025 2 €4,481€4,481
2024 2 €8,129€7,829
2023 2 €4,403€4,992
2022 2 €2,009€1,420
Schemes
4 entries · €11,375 · €11,075 paid · Fonds voor Innoveren en Ondernemen
4 entries · €7,647 · €7,647 paid · Departement Werk en Sociale Economie

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.

Directors

Directors
2 directors, 1 in day-to-day management, last change in 2021

Board 2

JANSSEN Magdalena
Director · since 11-06-2021
Current
SCHELFHOUT Guido
Director · since 11-06-2021
Current

Day-to-day management 1

SCHELFHOUT Guido
Managing director · since 11-06-2021
Current
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ. See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
8 of this company's 9 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.

Mandate history

2 people since 2021, 2 in office
Show
  • Board
  • Day-to-day management
Mandates per person, with start and end dates
Name Functions and periods
JANSSEN Magdalena
  • Director, from 11-06-2021 to date
SCHELFHOUT Guido
  • Director, from 11-06-2021 to date
  • Managing director, from 11-06-2021 to date
See the board, name and registered office on a given date →

Owners and capital

Owners

1 owner

Chain of control

  1. JM HOLDING 99%
  2. JM CONSTRUCT

Highest known parent: JM HOLDING. The sources do not say who stands above it.

Owners 1

Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.

Capital and shareholders

Capital over the years
  1. 12-12-2023 Capital stated in the deed · €323,993.99 · 1,307 shares

Group and network

Connections & network

2 current directors
Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.

History

On 31 January 1994, JM CONSTRUCT was incorporated.1 Turnover went from €9.6m in 2023 to €6.6m in 2025 and headcount from 24.3 full-time equivalents in 2018 to 28 in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018, 2023 and 2025

Acts, filings and financial milestones

Next filing, financial year 2026, expected by 31-07-2027
2026
31-08
NBB filing Annual accounts filed
financial year 2025 · full format · 31 days late
2025
24-07
NBB filing Annual accounts filed
financial year 2024 · full format
2024
31-12
Financial Weakest financial yearnet -€34,436
Net result drops to -€34,436, the lowest in the series; recovery starts the following year.
31-12
Financial Equity above €2mequity €3.9m ▲107%
Equity rises from €1.9m to €3.9m.
11-07
NBB filing Annual accounts filed
financial year 2023 · full format
2023
12-12
Gazette deed Appointments: SCHELFHOUT Guido (director) and JANSSEN Magdalena (director)
Amendment of the articles · Capital · Registered office clause8 facts ▸
  • General meeting, 05-12-2023
  • Other provision, “afstand van formaliteiten tot bijeenroeping, Eerste besluit” (deed in Dutch)
  • Amendment of the articles (2 times)
  • Capital, €323,993.99
  • Director appointment, SCHELFHOUT Guido (director)
  • Director appointment, JANSSEN Magdalena (director)
  • Director appointment, SCHELFHOUT Guido (managing director)
  • Registered office clause, “Maaseik, behouden” (deed in Dutch)
30-06
NBB filing Annual accounts filed
financial year 2022 · abbreviated format
2022
30-06
NBB filing Annual accounts filed
financial year 2021 · abbreviated format
2021
01-07
NBB filing Annual accounts filed
financial year 2020 · abbreviated format
2020
25-06
NBB filing Annual accounts filed
financial year 2019 · abbreviated format
2019
31-12
Financial Highest result from 2018 to 2025net €289,082 ▲11%
Net result €289,082, the highest in the series.
31-12
Financial Equity above €1mequity €1.1m ▲34.9%
A profit in every financial year since 2018 builds equity to €1.1m.
Show earlier events
03-07
NBB filing Annual accounts filed
financial year 2018 · abbreviated format
2018
08-08
NBB filing Annual accounts filed
financial year 2017 · abbreviated format · 8 days late
2017
29-06
NBB filing Annual accounts filed
financial year 2016 · abbreviated format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 31 annual accounts filed, the latest 10 are here; all 31 are under Financials.
1 of 9 deeds read
About the unread acts

Of the 9 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Register details

Identification
Legal formPublic limited company
Founded31-01-1994
Financial year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
E-invoicing
Reachable via Peppol
Peppol ID 0208:0452056127
Also 9925:BE0452056127

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 26 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.

Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.

Sites & property

Location & real-estate footprint
Registered office, Maaseik · 1 establishment unit since 1994
registered office establishment The establishment unit on the map
Ground area
5.0 ha
Building footprint
420 m²
Building volume
2,881 m³
Parcel 72021A0332/00E000, Flanders · tallest building 7.9 m. Linked by address, not a title deed.
5 companies at this address See who is registered here
1 establishment unit
JM Construct
Broekbergweg 10, 3680 MaaseikManufacture of metal structures and parts of structures
since 1994unit no. 2.065.875.019
1 parcel
Flanders 1 (100%)
Cadastral parcel Region Area Buildings Height / floors
72021A0332/00E000 Flanders 5.0 ha 1 · 420 m² 7.9 m · 2
How the parcels are linked
Good to know
The parcel matches the address exactly.

Articles of association

What the company does

PurposeThe activities the company may carry out under its articles.
“Vervaardiging van metalen constructies,zoals onder meer de vervaardiging en de montage van metalen constructiewerken en gebinten voor de…” (deed in Dutch)
33 activities (deed in Dutch)
  1. Vervaardiging van metalen constructies,zoals onder meer de vervaardiging en de montage van metalen constructiewerken en gebinten voor de bouw,voor industriële uitrusting,de vervaardiging van gefabriceerde gebouwen,overwegend van staal
  2. Vervaardiging van metaalschrijnwerk:deuren vensters en kozijnen,luiken,verplaatsbare wanden,hekken,garagepoorten
  3. Vervaardiging van metalen silo’s,tanks,reservoirs en dergelijke recipiënten met inhoudcapaciteit van meer dan 300 liter
  4. Het ontwerpen,het maken en het monteren van leidingstelsels inclusief de verdere bewerking van buizen tot leidingen en leidingstelsels onder druk
  5. De vervaardiging van gesmede werkstukken van metaal voor rekening van derden,de vervaardiging en montage van gesmede werkstukken voor de bouw:trapleuningen,borstweringen,enz.
  6. De vervaardiging van een met matrijs geperste werkstukken van non-ferrometaal voor rekening van derden
  7. Het afbramen,zandstralen,trommelpolijsten en reinigen van metaal
  8. Vervaardiging van metalen werkstukken voor rekening van derden door toepassing van diverse technieken:boren,draaien,frezen,vonkerosief bewerken,schaven,lappen,trekfrezen,vlakken,zagen,slijpen,lassen,enz.
  9. Onderhouds-en herstellingswerken van mechanische aard voor rekening van derden
  10. Vervaardiging van metalen deksels,vervaardiging van verwisselbare gereedschappen,voor al dan niet mechanisch handgereedschap of voor gereedschapswerktuigen
  11. Vervaardiging van artikelen van draad
  12. Vervaardiging van nagels pinnen enz.,vervaardiging van bouten,schroeven,moeren,kettingen en veren
  13. Optrekken van gebouwen voor industrieel of commercieel gebruik,voor landbouwdoeleinden,enz.
  14. De montage van hangars,loodsen,schuren,silo’s enz.voor landbouwdoeleinden
  15. Onderneming voor het monteren van niet-zelfvervaardigde metalen constructiewerken
  16. Onderneming voor het uitvoeren van hijs-en hefwerkzaamheden voor rekening van derden
  17. De montage van buiten-en binnenschrijnwerk in metaal:deuren,vensters,kozijnen,trappen enz.
  18. De installatie van al dan niet verplaatsbare tussenwanden,de bekleding van wanden in metaal
  19. De installatie van garagepoorten,luiken,zonneblinden,traliewerk,hekken,enz.in metaal
  20. De installatie van geblindeerde deuren en brandwerende deuren in metaal
  21. De montage van serres,veranda’s enz.in metaal
  22. Het schilderen van metalen constructies
  23. Handelsbemiddeling in machines voor de bouwnijverheid,groothandel in mechanische werktuigen voor de bouwnijverheid
  24. De groothandel in halffabrikaten van ferro en non-ferrometalen,n.e.g.
  25. Het verlenen van advies en hulp aan het bedrijfsleven op het gebied van bedrijfsvoering en beheer,van organisatie,planning en toezicht.
  26. Managementactiviteiten:het tussenkomen in het dagelijkse bestuur,het vertegenwoordigen van bedrijven op grond van het bezit van of controle over het maatschappelijk kapitaal en andere managementactiviteiten.
  27. Voor eigen rekening zowel in België als in het buitenland,A.het aanleggen,het oordeelkundig uitbouwen en het beheren van een onroerend vermogen;alle verrichtingen met betrekking tot onroerende goederen en onroerende zakelijke rechten zoals de huurfinanciering van onroerende goederen aan derden,het aankopen,verkopen,ruilen,bouwen,verbouwen,onderhouden,verhuren,huren,verkavelen,prospecteren en uitbaten van onroerende goederen;de aan en verkoop,huur en verhuur van roerende goederen,evenals alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de opbrengst van de roerende en onroerende goederen te bevorderen,alsmede zich borg te stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze roerende en onroerende goederen.
  28. B.het aanleggen,het oordeelkundig uitbouwen en het beheren van een roerend patrimonium;alle verrichtingen met betrekking tot roerende goederen en rechten,van welke aard ook,zoals het verwerven door inschrijving of aankoop en het beheren van aandelen,obligaties,kasbons of andere roerende waarden,van welke aard ook,van Belgische of buitenlandse,bestaande of nog op te richten rechtspersonen en ondernemingen.
  29. Voor eigen rekening,voor rekening van derden,of in deelneming met derden:Het verwerven van participaties in eerder welke vorm in alle bestaande of op te richten rechtspersonen en vennootschappen,het stimuleren,de planning,de coördinatie van de ontwikkeling en investering in rechtspersonen en ondernemingen waarin zij al of niet een participatie aanhoudt.
  30. Het toestaan van leningen en kredietopeningen aan rechtspersonen en ondernemingen of particulieren,onder om het even welke vorm;in dit kader kan zij zich ook borg stellen of haar aval verlenen,in de meest ruime zin,alle handelsfinanciële operaties verrichten behalve die wettelijk voorbehouden zijn aan depositobanken,houders van deposito op korte termijn,spaarkassen,hypotheekmaatschappijen en kapitalisatieondernemingen.
  31. Het opnemen van bestuursmandaten in,en het optreden als adviseur bij alle mogelijke ondernemingen en vennootschappen en verder alle verrichtingen die behoren tot de activiteit van een zogenaamde houdstermaatschappij en dit alles in binnen-en buitenland
  32. Het ontwikkelen,kopen,verkopen,in licentie nemen of geven van octrooien,knowhow en aanverwante immateriële duurzame activa.
  33. Het onderzoek,de ontwikkeling,de vervaardiging of commercialisering van nieuwe producten,nieuwe vormen van technologie en hun toepassingen.

The full purpose is in the deed

DurationHow long the company exists; usually unlimited, so until it is dissolved.
Unlimited
Name clauseThe name the company operates under according to its articles.
JM CONSTRUCT
Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
“Vlaams Gewest, bij enkel besluit bestuursorgaan administratieve zetels,agentschappen,ateliers,opslagplaatsen en bijhuizen oprichten of…” (deed in Dutch)

deed of 12-12-2023

Who represents it, and how

Board ruleHow the board is made up, meets and takes decisions.
“Bij staking stemmen voorstel verworpen, elke bestuurder kan aan één collega volmacht verlenen voor bepaalde raad om te vertegenwoordigen en…” (deed in Dutch)

deed of 12-12-2023

Meetings and financial year

Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
Second Friday of June at 20:00

deed of 12-12-2023

Oversight and winding up

Dissolution ruleWhen and by whom the company can be dissolved.
“Algemene vergadering, zoals inzake statutenwijziging” (deed in Dutch)

deed of 12-12-2023

Other provisionsOther rules from the articles that fall under none of the themes above.

Other provision: “AANLEG VAN RESERVES-VERDELING VAN DE WINST EN DE VERDELING VAN HET NA VEREFFENING OVERBLIJVENDE SALDO, één tiende van het kapitaal” (deed in Dutch)
Other provision: “Raad bepaalt of zij alleen dan wel gezamenlijk optreden, dagelijks bestuur” (deed in Dutch)
4 more provisions in the deed, see the deed of 12-12-2023

deed of 12-12-2023