JMSDR
ActiveSummary
JMSDR has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €129,334 and a net result of -€13,660. Equity is shrinking by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 45% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability16▼-2
Solvency49▼-13
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.97 against 1.58 in 2024; short-term debt: 76.3% and cash: 0.1% of total assets), and 76.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2122232425
2021 to 2025 · latest year -€13,660
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
27 d late
2024
29 d late
2023
31 d late
2022
123 d late
2021
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 48 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 29 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€129,334▼ 9.6%
2024 · €142,994
Total assets
€545,627▲ 40.0%
2024 · €389,743
Net result
-€13,660▼ 313%
2024 · -€3,311
Working capital
-€13,694
2024 · €143,381
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€4,418--€6,392▼ 44.7%-€5,952▲ 6.9%-€2,149▲ 63.9%-€12,581▼ 485%
Net result-€5,140within the sector's middle half--€7,152within the sector's middle half▼ 39.1%-€6,403within the sector's middle half▲ 10.5%-€3,311within the sector's middle half▲ 48.3%-€13,660below the sector's middle half▼ 313%
Equity€159,860within the sector's middle half-€152,708within the sector's middle half▼ 4.5%€146,304within the sector's middle half▼ 4.2%€142,994within the sector's middle half▼ 2.3%€129,334within the sector's middle half▼ 9.6%
Total assets€337,582within the sector's middle half-€338,318within the sector's middle half▲ 0.2%€337,407within the sector's middle half▼ 0.3%€389,743within the sector's middle half▲ 15.5%€545,627within the sector's middle half▲ 40.0%
Debt€177,722-€185,610▲ 4.4%€191,103▲ 3.0%€246,749▲ 29.1%€416,294▲ 68.7%
Working capital€157,989above the sector's middle half-€151,746above the sector's middle half▼ 4.0%€145,934above the sector's middle half▼ 3.8%€143,381above the sector's middle half▼ 1.7%-€13,694within the sector's middle half
Solvency47.4%within the sector's middle half-45.1%within the sector's middle half▼ 2.2pp43.4%within the sector's middle half▼ 1.8pp36.7%within the sector's middle half▼ 6.7pp23.7%within the sector's middle half▼ 13.0pp
Current ratio1.89within the sector's middle half-1.82within the sector's middle half▼ 0.071.76within the sector's middle half▼ 0.051.58within the sector's middle half▼ 0.180.97within the sector's middle half▼ 0.61
Return on assets (ROA)-1.5%within the sector's middle half--2.1%below the sector's middle half▼ 0.6pp-1.9%within the sector's middle half▲ 0.2pp-0.8%within the sector's middle half▲ 1.0pp-2.5%below the sector's middle half▼ 1.7pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €12,581 in 2025 against €2,149 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €545,627
Fixed assets
€143,028
Current assets
€402,599
Equity and liabilities €545,627
Equity
€129,334 ▼ 9.6%
Debt
€416,294 ▲ 68.7%
Debt's share of the balance-sheet total rises from 63.3% to 76.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€10,172▼
2024 · -€1,779
Cash flow
-€11,251▼
2024 · -€2,940
Quick ratio
0.00▼
2024 · 0.05
Debt to equity
3.22▲
2024 · 1.73
ROE
-10.6%▼
2024 · -2.3%
Interest coverage
-9.43▼
2024 · -1.53
Debt ≤ 1 year
€416,294▲
2024 · €246,361
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 747 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a small loss
1.2%
went bankrupt
1.9%
stopped otherwise
97%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 747 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | €5,295 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €380 | €750 | €750 | €370 | €2,410 | ▲ 551% |
| Other operating charges640/8 | €1,585 | €348 | €3,519 | €1,362 | €2,709 | ▲ 98.9% |
| Gross operating margin9900 | -€2,453 | -€5,295 | -€1,683 | -€417 | -€7,463 | ▼ 1,690% |
| Operating profit (loss)9901 | -€4,418 | -€6,392 | -€5,952 | -€2,149 | -€12,581 | ▼ 485% |
| Financial charges65/66B | €722 | €760 | €451 | €1,161 | €1,079 | ▼ 7.1% |
| Recurring financial charges65 | €722 | €760 | €451 | €1,161 | €1,079 | ▼ 7.1% |
| Profit (loss) for the period before taxes9903 | -€5,140 | -€7,152 | -€6,403 | -€3,311 | -€13,660 | ▼ 313% |
| Profit (loss) for the period9904 | -€5,140 | -€7,152 | -€6,403 | -€3,311 | -€13,660 | ▼ 313% |
| Profit (loss) for the period to be appropriated9905 | -€5,140 | -€7,152 | -€6,403 | -€3,311 | -€13,660 | ▼ 313% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €337,582 | €338,318 | €337,407 | €389,743 | €545,627 | ▲ 40.0% |
| Fixed assets21/28 | €1,870 | €1,120 | €370 | €0 | €143,028 | - |
| Tangible fixed assets22/27 | €1,870 | €1,120 | €370 | €0 | €143,028 | - |
| Land and buildings22 | - | - | - | - | €143,028 | - |
| Plant, machinery and equipment23 | €1,870 | €1,120 | €370 | €0 | €0 | - |
| Current assets29/58 | €335,712 | €337,197 | €337,037 | €389,743 | €402,599 | ▲ 3.3% |
| Stocks and contracts in progress3 | €330,338 | €330,338 | €330,338 | €376,923 | €401,673 | ▲ 6.6% |
| Stocks30/36 | €330,338 | €330,338 | €330,338 | €376,923 | €401,673 | ▲ 6.6% |
| Amounts receivable within one year40/41 | €3,867 | €4,964 | €6,432 | €428 | €188 | ▼ 56.0% |
| Trade receivables40 | - | - | €2,860 | €0 | - | - |
| Other amounts receivable41 | €3,867 | €4,964 | €3,572 | €428 | €188 | ▼ 56.0% |
| Cash at bank and in hand54/58 | €1,507 | €1,896 | €267 | €12,392 | €432 | ▼ 96.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | €307 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €337,582 | €338,318 | €337,407 | €389,743 | €545,627 | ▲ 40.0% |
| Equity10/15 | €159,860 | €152,708 | €146,304 | €142,994 | €129,334 | ▼ 9.6% |
| Contributions10/11 | €165,000 | €165,000 | €165,000 | €165,000 | €165,000 | = |
| Profit (loss) carried forward14 | -€5,140 | -€12,292 | -€18,696 | -€22,006 | -€35,666 | ▼ 62.1% |
| Amounts payable17/49 | €177,722 | €185,610 | €191,103 | €246,749 | €416,294 | ▲ 68.7% |
| Amounts payable within one year42/48 | €177,722 | €185,451 | €191,103 | €246,361 | €416,294 | ▲ 69.0% |
| Trade debts44 | €222 | €451 | €2,603 | €1,861 | €260 | ▼ 86.0% |
| Suppliers440/4 | €222 | €451 | €2,603 | €1,861 | €260 | ▼ 86.0% |
| Taxes, remuneration and social security45 | - | - | €0 | €0 | €33 | - |
| Taxes450/3 | - | - | - | - | €33 | - |
| Other amounts payable47/48 | €177,500 | €185,000 | €188,500 | €244,500 | €416,000 | ▲ 70.1% |
| Accrued charges and deferred income492/3 | - | €159 | - | €387 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,140 | -€7,152 | -€6,403 | -€3,311 | -€13,660 | ▼ 313% |
| + Depreciation and write-downs630 | €380 | €750 | €750 | €370 | €2,410 | ▲ 551% |
| Operating cash flow (approximation) | -€4,761 | -€6,402 | -€5,653 | -€2,940 | -€11,251 | ▼ 283% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€145,438 | - |
| Change in cash | - | €389 | -€1,629 | €12,125 | -€11,960 | ▼ 199% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
31-12
Financial
Weakest financial yearnet -€13,660
Net result drops to -€13,660, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
01-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 123 days late
2022
28-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Esneux · 1 establishment unit since 2020
Ground area
493 m²
Building footprint
124 m²
Volume, LiDAR
605 m³
Parcel 62032D0150/00F000, Wallonia · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
JMSDR
since 20202.308.390.558
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62032D0150/00F000 | Wallonia | 493 m² | 1 · 123 m² | 7.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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AMW & Co
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HASSOPRINT WORKWEAR
BE 0878.075.870
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AGRIFRAM D&D
BE 0465.947.319
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Of 588 companies in sector 68204 we hold annual accounts for 318. 213 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-09-2020
Fiscal year end31-12
Activities, NACEBEL 2025
68204Real estate activities
68121Development of residential building projects
68122Development of non-residential building projects
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0753895777
Also
9925:BE0753895777
Registered
21-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.