JMW Projects
ActiveSummary
The computed 12-month bankruptcy probability of JMW Projects is 1.9% (moderate). The 2025 annual accounts show equity of €88k and a net result of €-79k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 38% of 1034 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-73
Solvency61▼-11
Growth35▼-17
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days only on tighter terms
Liquidity short (current ratio 0.98 against 1.38 in 2024; short-term debt: 61.6% and cash: 20% of total assets), and 63.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
36.4%
Return on assets
-33%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-04-2026, 121 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
121 d early
2024
20 d late
2023
29 d late
2022
103 d early
2021
17 d late
2020
30 d late
2019
33 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€845k▼ 34.0%
2022 · €1.28M
2022: €1.28M
2023: €845k▼ -34.0% vs 2022
2022 → 2023
EBIT margin
6.5%▼ 6.6pp
2022 · 13.1%
2022: 13.1%
2023: 6.5%▼ -50.2% vs 2022
2022 → 2023
Net result
€-79k
2024 · €11k
2019: €-2k
2020: €-9k▼ -278% vs 2019
2021: €13k▲ +248% vs 2020
2022: €113k▲ +756% vs 2021highest in 7 years
2023: €35k▼ -69.3% vs 2022
2024: €11k▼ -67.9% vs 2023
2025: €-79k▼ -812% vs 2024lowest in 7 years
2019 → 2025
Working capital
€-4k
2024 · €67k
2019: €991
2020: €-10k▼ -1108% vs 2019lowest in 7 years
2021: €3k▲ +126% vs 2020
2022: €68k▲ +2515% vs 2021
2023: €80k▲ +18.0% vs 2022highest in 7 years
2024: €67k▼ -16.9% vs 2023
2025: €-4k▼ -105% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.28M€845k▼ 34.0%
2022: €1.28M
2023: €845k▼ -34.0% vs 2022
Equity€8k-€121k▲ 1,400%€156k▲ 28.6%€167k▲ 7.2%€88k▼ 47.5%
2021: €8klowest in 5 years
2022: €121k▲ +1400% vs 2021
2023: €156k▲ +28.6% vs 2022
2024: €167k▲ +7.2% vs 2023highest in 5 years
2025: €88k▼ -47.5% vs 2024
Operating result€14k-€167k▲ 1,088%€55k▼ 67.2%€28k▼ 48.5%€-77k
2021: €14k
2022: €167k▲ +1088% vs 2021highest in 5 years
2023: €55k▼ -67.2% vs 2022
2024: €28k▼ -48.5% vs 2023
2025: €-77k▼ -374% vs 2024lowest in 5 years
Net result€13k-€113k▲ 756%€35k▼ 69.3%€11k▼ 67.9%€-79k
2021: €13k
2022: €113k▲ +756% vs 2021highest in 5 years
2023: €35k▼ -69.3% vs 2022
2024: €11k▼ -67.9% vs 2023
2025: €-79k▼ -812% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €77k after €28k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €241k
Fixed assets
€96k ▼ 15.7%
Current assets
€145k ▼ 40.4%
Equity and liabilities €241k
Equity
€88k ▼ 47.5%
Debt
€153k ▼ 19.3%
Debt's share of the balance-sheet total rises from 53.2% to 63.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-44k▼
2024 · €65k
Cash flow
€-47k▼
2024 · €48k
Current ratio
0.98▼
2024 · 1.38
Debt to equity
1.75▲
2024 · 1.14
ROE
-90.6%▼
2024 · 6.7%
ROA
-33.0%▼
2024 · 3.1%
Interest coverage
-19.32▼
2024 · 14.90
Debt ≤ 1 year
€148k▼
2024 · €176k
Debt > 1 year
€5k▼
2024 · €14k
Income taxes
€0▼
2024 · €15k
Staff costs
€375▲
2024 · €321
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€357k€241k▼
Fixed assets21/28€114k€96k▼
Intangible fixed assets21€1k€4k▲
Tangible fixed assets22/27€113k€92k▼
Land and buildings22€8k€7k▼
Plant, machinery and equipment23€59k€52k▼
Furniture and vehicles24€46k€33k▼
Financial fixed assets28€0-
Current assets29/58€243k€145k▼
Stocks and contracts in progress3€51k€0▼
Contracts in progress37€51k€0▼
Amounts receivable within one year40/41€138k€94k▼
Trade receivables40€108k€84k▼
Other amounts receivable41€30k€10k▼
Cash at bank and in hand54/58€52k€48k▼
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€357k€241k▼
Equity10/15€167k€88k▼
Contributions10/11€6k€6k=
Reserves13€161k€161k=
Distributable reserves133€161k€161k=
Profit (loss) carried forward14-€-79k
Amounts payable17/49€190k€153k▼
Amounts payable after more than one year17€14k€5k▼
Financial debts170/4€14k€5k▼
Amounts payable within one year42/48€176k€148k▼
Current portion of amounts payable after more than one year42€19k€9k▼
Financial debts43€5k€2k▼
Credit institutions430/8€5k€2k▼
Trade debts44€105k€122k▲
Suppliers440/4€105k€122k▲
Taxes, remuneration and social security45€18k€10k▼
Taxes450/3€18k€10k▼
Other amounts payable47/48€29k€6k▼
Income statement
Code20242025
Non-recurring operating income76A-€1k
Remuneration, social security and pensions62€321€375▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€36k€33k▼
Other operating charges640/8€3k€2k▼
Non-recurring operating charges66A€29k€2k▼
Gross operating margin9900€97k€-40k▼
Operating profit (loss)9901€28k€-77k▼
Financial income75/76B€2k€191▼
Recurring financial income75€2k€191▼
Financial charges65/66B€4k€2k▼
Recurring financial charges65€4k€2k▼
Profit (loss) for the period before taxes9903€26k€-79k▼
Income taxes67/77€15k€0▼
Profit (loss) for the period9904€11k€-79k▼
Profit (loss) for the period to be appropriated9905€11k€-79k▼
Appropriation of the result
Profit (loss) to be appropriated9906€11k€-79k▼
Transfer to equity691/2€11k€0▼
To other reserves6921€11k€0▼
Social balance
Average headcount (FTE)9087-0.0
The notes to these accounts (26 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €1.28M | €845k | - | - | - |
| Non-recurring operating income76A | - | €3k | €208 | - | €1k | - |
| Goods, raw materials, services and sundry goods60/61 | - | €1.11M | €773k | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €321 | €375 | ▲ 16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €6k | €15k | €36k | €33k | ▼ 9.4% |
| Other operating charges640/8 | €201 | €1k | €2k | €3k | €2k | ▼ 19.9% |
| Non-recurring operating charges66A | - | - | - | €29k | €2k | ▼ 92.5% |
| Gross operating margin9900 | €16k | €175k | €72k | €97k | €-40k | ▼ 141% |
| Operating profit (loss)9901 | €14k | €167k | €55k | €28k | €-77k | ▼ 374% |
| Financial income75/76B | - | €720 | €1k | €2k | €191 | ▼ 91.4% |
| Recurring financial income75 | - | €720 | €1k | €2k | €191 | ▼ 91.4% |
| Financial charges65/66B | €89 | €585 | €2k | €4k | €2k | ▼ 47.0% |
| Recurring financial charges65 | €89 | €585 | €2k | €4k | €2k | ▼ 47.0% |
| Profit (loss) for the period before taxes9903 | €14k | €167k | €54k | €26k | €-79k | ▼ 404% |
| Income taxes67/77 | €750 | €54k | €19k | €15k | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €13k | €113k | €35k | €11k | €-79k | ▼ 812% |
| Profit (loss) for the period to be appropriated9905 | €13k | €113k | €35k | €11k | €-79k | ▼ 812% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €92k | €556k | €370k | €357k | €241k | ▼ 32.5% |
| Formation expenses20 | €1k | €708 | - | - | - | - |
| Fixed assets21/28 | €4k | €52k | €89k | €114k | €96k | ▼ 15.7% |
| Intangible fixed assets21 | - | €2k | €1k | €1k | €4k | ▲ 306% |
| Tangible fixed assets22/27 | €4k | €46k | €83k | €113k | €92k | ▼ 18.7% |
| Land and buildings22 | €2k | €11k | €9k | €8k | €7k | ▼ 13.9% |
| Plant, machinery and equipment23 | - | €15k | €22k | €59k | €52k | ▼ 11.8% |
| Furniture and vehicles24 | €2k | €21k | €51k | €46k | €33k | ▼ 28.4% |
| Financial fixed assets28 | - | €5k | €5k | €0 | - | - |
| Current assets29/58 | €87k | €503k | €282k | €243k | €145k | ▼ 40.4% |
| Stocks and contracts in progress3 | - | - | - | €51k | €0 | ▼ 100% |
| Contracts in progress37 | - | - | - | €51k | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €60k | €387k | €269k | €138k | €94k | ▼ 31.5% |
| Trade receivables40 | €53k | €358k | €237k | €108k | €84k | ▼ 21.5% |
| Other amounts receivable41 | €7k | €28k | €31k | €30k | €10k | ▼ 67.1% |
| Cash at bank and in hand54/58 | €27k | €116k | €13k | €52k | €48k | ▼ 8.0% |
| Deferred charges and accrued income490/1 | - | €1k | - | €2k | €2k | ▲ 17.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €92k | €556k | €370k | €357k | €241k | ▼ 32.5% |
| Equity10/15 | €8k | €121k | €156k | €167k | €88k | ▼ 47.5% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €2k | €115k | €150k | €161k | €161k | = |
| Distributable reserves133 | €2k | €115k | €150k | €161k | €161k | = |
| Profit (loss) carried forward14 | - | - | - | - | €-79k | - |
| Amounts payable17/49 | €84k | €435k | €214k | €190k | €153k | ▼ 19.3% |
| Amounts payable after more than one year17 | - | - | €13k | €14k | €5k | ▼ 65.1% |
| Financial debts170/4 | - | - | €13k | €14k | €5k | ▼ 65.1% |
| Amounts payable within one year42/48 | €84k | €435k | €201k | €176k | €148k | ▼ 15.7% |
| Current portion of amounts payable after more than one year42 | - | €30k | €36k | €19k | €9k | ▼ 52.4% |
| Financial debts43 | - | - | - | €5k | €2k | ▼ 66.2% |
| Credit institutions430/8 | - | - | - | €5k | €2k | ▼ 66.2% |
| Trade debts44 | €41k | €377k | €108k | €105k | €122k | ▲ 16.5% |
| Suppliers440/4 | €41k | €377k | €108k | €105k | €122k | ▲ 16.5% |
| Advances received on contracts in progress46 | €39k | - | - | - | - | - |
| Taxes, remuneration and social security45 | €749 | €25k | €27k | €18k | €10k | ▼ 45.9% |
| Taxes450/3 | €749 | €25k | €27k | €18k | €10k | ▼ 45.9% |
| Other amounts payable47/48 | €3k | €3k | €29k | €29k | €6k | ▼ 80.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13k | €113k | €35k | €11k | €-79k | ▼ 812% |
| + Depreciation and write-downs630 | €2k | €6k | €15k | €36k | €33k | ▼ 9.4% |
| Operating cash flow (approximation) | €15k | €120k | €50k | €48k | €-47k | ▼ 198% |
| Investment in fixed assets (approximation) | - | €-55k | €-52k | €-62k | €-15k | ▲ 75.7% |
| Change in cash | - | €89k | €-102k | €39k | €-4k | ▼ 111% |
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
01-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-79k
Net result drops to €-79k, the lowest in the series.
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 20 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
31-12
Financial
Equity above €150kEq €156k ▲28.6%
3 profitable years in a row build equity to €156k.
19-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2019net €113k ▲756%
Operating result €167k, net result €113k, both a record.
31-12
Financial
Equity above €100kEq €121k ▲1,400%
2 profitable years in a row build equity to €121k.
17-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 17 days late
2021
31-12
Financial
Back to profitnet €13k
Net result €13k after 2 loss-making years.
31-12
Financial
Liquidity times 5current ratio 1.03
Current ratio from 0.21 to 1.03.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
02-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 33 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are 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, Maasmechelen · 1 establishment unit since 2018
Ground area
3.2 ha
Building footprint
2,225 m²
Volume, LiDAR
15 m³
Parcel 73048B1295/00N000, Flanders · tallest building 2.1 m. Linked by address, not a title deed.
1 establishment unit
H & R Assembly
since 20182.283.174.122
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73048B1295/00N000 | Flanders | 3.2 ha | 1 · 2,225 m² | 2.1 m |
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.
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Of 3,984 companies in sector 25110 we hold annual accounts for 2,145. 1,592 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
Founded19-12-2018
Fiscal year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
Scores and ratios are computed by Checked and are not a credit decision.