JMC
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-01-2026 PDF all 14 filings
Turnover
≈ €34,000
Estimated: probably between €15,000 and €62,000
Total assets
€68,669▼ 3.0%
2024 · €70,771
Net result
€1,014▲ 48.7%
2024 · €682
Working capital
€53,978▲ 2.5%
2024 · €52,666
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€986
▲ 46.7%
2025
20192025
Net result
€1,014
▲ 48.7%
2025
middle half of the sector
20192025
Equity
€65,308
▲ 1.6%
2025
middle half of the sector
20192025
Total assets
€68,669
▼ 3.0%
2025
middle half of the sector
20192025
Debt
€3,361
▼ 48.1%
2025
20192025
Working capital
€53,978
▲ 2.5%
2025
middle half of the sector
20192025
Solvency
95.1%
▲ 4.3pp
2025
highest quarter of the sector
20192025
Current ratio
17.06
▲ 7.93
2025
highest quarter of the sector
20192025
Return on assets (ROA)
1.5%
▲ 0.5pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€10,247--€1,371-€1,179▲ 14.0%€3,128-€8,760€672€986▲ 46.7%
Net result€5,845-€17,610within the sector's middle half▲ 201%-€1,315within the sector's middle half€1,354within the sector's middle half-€8,891below the sector's middle half€682within the sector's middle half€1,014within the sector's middle half▲ 48.7%
Equity€54,853-€72,463within the sector's middle half▲ 32.1%€71,148within the sector's middle half▼ 1.8%€72,502within the sector's middle half▲ 1.9%€63,611within the sector's middle half▼ 12.3%€64,294within the sector's middle half▲ 1.1%€65,308within the sector's middle half▲ 1.6%
Total assets€74,889-€94,399within the sector's middle half▲ 26.1%€84,337within the sector's middle half▼ 10.7%€90,701within the sector's middle half▲ 7.5%€74,736within the sector's middle half▼ 17.6%€70,771within the sector's middle half▼ 5.3%€68,669within the sector's middle half▼ 3.0%
Debt€20,036-€21,936▲ 9.5%€13,189▼ 39.9%€18,199▲ 38.0%€11,124▼ 38.9%€6,478▼ 41.8%€3,361▼ 48.1%
Working capital€48,522-€67,656within the sector's middle half▲ 39.4%€64,748within the sector's middle half▼ 4.3%€67,695within the sector's middle half▲ 4.6%€56,428within the sector's middle half▼ 16.6%€52,666within the sector's middle half▼ 6.7%€53,978within the sector's middle half▲ 2.5%
Solvency73.2%-76.8%above the sector's middle half▲ 3.5pp84.4%above the sector's middle half▲ 7.6pp79.9%above the sector's middle half▼ 4.4pp85.1%above the sector's middle half▲ 5.2pp90.8%above the sector's middle half▲ 5.7pp95.1%above the sector's middle half▲ 4.3pp
Current ratio3.88-4.33above the sector's middle half▲ 0.455.91above the sector's middle half▲ 1.585.08above the sector's middle half▼ 0.837.13above the sector's middle half▲ 2.059.13above the sector's middle half▲ 2.0117.06above the sector's middle half▲ 7.93
Return on assets (ROA)7.8%-18.7%above the sector's middle half▲ 10.9pp-1.6%below the sector's middle half▼ 20.2pp1.5%within the sector's middle half▲ 3.1pp-11.9%below the sector's middle half▼ 13.4pp1.0%within the sector's middle half▲ 12.9pp1.5%within the sector's middle half▲ 0.5pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 47% higher than in 2024. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The 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
Assets €68,669
Fixed assets
€11,330 ▼ 2.6%
Current assets
€57,339 ▼ 3.1%
Equity and liabilities €68,669
Equity
€65,308 ▲ 1.6%
Debt
€3,361 ▼ 48.1%
Debt's share of the balance-sheet total falls from 9.2% to 4.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2,655▲
2024 · €2,183
Cash flow
€2,683▲
2024 · €2,193
Debt to equity
0.05▼
2024 · 0.10
ROE
1.6%▲
2024 · 1.1%
Interest coverage
28.70
Debt ≤ 1 year
€3,361▼
2024 · €6,478
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €2,836 | €4,043 | €2,140 |
| Depreciation and write-downs of the year | - | €141 | €1,511 | €1,669 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,117 | €3,117 | - | - | €141 | €1,511 | €1,669 | ▲ 10.5% |
| Other operating charges640/8 | - | - | - | €823 | €1,152 | €814 | €1,313 | ▲ 61.2% |
| Gross operating margin9900 | €14,230 | €2,558 | -€245 | €3,951 | -€7,467 | €2,997 | €3,967 | ▲ 32.4% |
| Operating profit (loss)9901 | €10,247 | -€1,371 | -€1,179 | €3,128 | -€8,760 | €672 | €986 | ▲ 46.7% |
| Financial income75/76B | - | - | - | €3 | €5 | €119 | €121 | ▲ 1.6% |
| Recurring financial income75 | €4 | €20,922 | €1 | €3 | €5 | €119 | €121 | ▲ 1.6% |
| Financial charges65/66B | - | - | - | - | €6 | - | €93 | - |
| Recurring financial charges65 | €89 | €38 | €17 | - | €6 | - | €93 | - |
| Profit (loss) for the period before taxes9903 | €10,162 | €19,513 | -€1,195 | €3,131 | -€8,761 | €791 | €1,014 | ▲ 28.3% |
| Income taxes67/77 | €4,317 | €1,902 | €120 | €1,777 | €130 | €109 | - | - |
| Profit (loss) for the period9904 | €5,845 | €17,610 | -€1,315 | €1,354 | -€8,891 | €682 | €1,014 | ▲ 48.7% |
| Profit (loss) for the period to be appropriated9905 | €5,845 | €17,610 | -€1,315 | €1,354 | -€8,891 | €682 | €1,014 | ▲ 48.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €74,889 | €94,399 | €84,337 | €90,701 | €74,736 | €70,771 | €68,669 | ▼ 3.0% |
| Fixed assets21/28 | €9,517 | €6,400 | €6,400 | €6,400 | €9,095 | €11,627 | €11,330 | ▼ 2.6% |
| Tangible fixed assets22/27 | €3,117 | - | - | - | €2,695 | €5,227 | €4,930 | ▼ 5.7% |
| Furniture and vehicles24 | - | - | - | - | €2,695 | €5,227 | €4,930 | ▼ 5.7% |
| Financial fixed assets28 | €6,400 | €6,400 | €6,400 | €6,400 | €6,400 | €6,400 | €6,400 | = |
| Current assets29/58 | €65,372 | €87,999 | €77,937 | €84,301 | €65,641 | €59,144 | €57,339 | ▼ 3.1% |
| Amounts receivable within one year40/41 | €5,846 | €11,888 | €4,353 | €8,209 | €6,486 | €11,184 | €10,071 | ▼ 10.0% |
| Trade receivables40 | - | - | - | €8,209 | €6,486 | €11,184 | €10,034 | ▼ 10.3% |
| Other amounts receivable41 | - | - | - | - | €1 | - | €36 | - |
| Cash at bank and in hand54/58 | €59,043 | €75,610 | €73,083 | €62,812 | €58,604 | €47,960 | €47,268 | ▼ 1.4% |
| Deferred charges and accrued income490/1 | - | - | - | €13,281 | €550 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €74,889 | €94,399 | €84,337 | €90,701 | €74,736 | €70,771 | €68,669 | ▼ 3.0% |
| Equity10/15 | €54,853 | €72,463 | €71,148 | €72,502 | €63,611 | €64,294 | €65,308 | ▲ 1.6% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €47,065 | €64,675 | €64,675 | €66,029 | €66,029 | €66,029 | €66,029 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | - | - | - |
| Other1319 | - | - | - | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €64,169 | €64,169 | €66,029 | €66,029 | = |
| Profit (loss) carried forward14 | €1,588 | €1,588 | €273 | €273 | -€8,617 | -€7,935 | -€6,921 | ▲ 12.8% |
| Amounts payable17/49 | €20,036 | €21,936 | €13,189 | €18,199 | €11,124 | €6,478 | €3,361 | ▼ 48.1% |
| Amounts payable within one year42/48 | €16,850 | €20,343 | €13,189 | €16,606 | €9,213 | €6,478 | €3,361 | ▼ 48.1% |
| Trade debts44 | €1,433 | €2,296 | €903 | €3,470 | €1,415 | €515 | €581 | ▲ 12.8% |
| Suppliers440/4 | - | - | - | €3,470 | €1,415 | €515 | €581 | ▲ 12.8% |
| Taxes, remuneration and social security45 | - | - | - | €2,575 | €445 | €2,144 | €594 | ▼ 72.3% |
| Taxes450/3 | - | - | - | €2,575 | €445 | €2,144 | €594 | ▼ 72.3% |
| Other amounts payable47/48 | - | - | - | €10,561 | €7,352 | €3,819 | €2,186 | ▼ 42.8% |
| Accrued charges and deferred income492/3 | - | - | - | €1,593 | €1,912 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,845 | €17,610 | -€1,315 | €1,354 | -€8,891 | €682 | €1,014 | ▲ 48.7% |
| + Depreciation and write-downs630 | €3,117 | €3,117 | - | - | €141 | €1,511 | €1,669 | ▲ 10.5% |
| Operating cash flow (approximation) | €8,962 | €20,728 | -€1,315 | €1,354 | -€8,750 | €2,193 | €2,683 | ▲ 22.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€2,836 | -€4,043 | -€1,372 | ▲ 66.1% |
| Change in cash | - | €16,566 | -€2,527 | -€10,271 | -€4,208 | -€10,644 | -€692 | ▲ 93.5% |
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, 10,904 companies had the same profile as JMC has now. Two years later, 95.1% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.1%
was still going
4.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of JMC 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 10,904 companies, not a prediction for JMC. 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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 15-01-2026 | 2026-00008556 | |
| 30-06-2024 | micro format | 27-01-2025 | 2025-00010681 | |
| 30-06-2023 | micro format | 26-01-2024 | 2024-00008565 | |
| 30-06-2022 | micro format | 30-01-2023 | 2023-00019843 | |
| 30-06-2021 | micro format | 28-01-2022 | 2022-02700088 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-03400367 | |
| 30-06-2019 | micro format | 28-01-2020 | 2020-02400394 | |
| 30-06-2018 | micro format | 23-01-2019 | 2019-02300022 | |
| 30-06-2017 | micro format | 12-01-2018 | 2018-01200390 | |
| 30-06-2016 | abbreviated format | 31-01-2017 | 2017-03300407 |