JS-IT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 05-06-2026 PDF all 18 filings
Turnover
≈ €200,000
Estimated: probably between €120,000 and €360,000
Total assets
€236,580▲ 14.0%
2024 · €207,546
Net result
€28,072▲ 34.9%
2024 · €20,802
Working capital
€159,530▲ 0.7%
2024 · €158,350
In the rankings
#7 oldest company in Tongeren-Borgloon, Telecoms and IT sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€39,608
▲ 32.6%
2025
20182025
Net result
€28,072
▲ 34.9%
2025
middle half of the sector
20182025
Equity
€186,805
▼ 2.3%
2025
highest quarter of the sector
20182025
Total assets
€236,580
▲ 14.0%
2025
middle half of the sector
20182025
Debt
€49,776
▲ 205%
2025
20182025
Working capital
€159,530
▲ 0.7%
2025
highest quarter of the sector
20182025
Solvency
79.0%
▼ 13.2pp
2025
highest quarter of the sector
20182025
Current ratio
4.20
▼ 6.49
2025
highest quarter of the sector
20182025
Return on assets (ROA)
11.9%
▲ 1.8pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€6,069-€10,110▲ 66.6%€21,763▲ 115%€18,648▼ 14.3%€23,733▲ 27.3%€36,414▲ 53.4%€29,869▼ 18.0%€39,608▲ 32.6%
Net result€3,951-€6,717▲ 70.0%€14,900within the sector's middle half▲ 122%€12,546within the sector's middle half▼ 15.8%€15,845within the sector's middle half▲ 26.3%€25,733within the sector's middle half▲ 62.4%€20,802within the sector's middle half▼ 19.2%€28,072within the sector's middle half▲ 34.9%
Equity€105,591-€112,308▲ 6.4%€127,208above the sector's middle half▲ 13.3%€128,840above the sector's middle half▲ 1.3%€144,685above the sector's middle half▲ 12.3%€170,418above the sector's middle half▲ 17.8%€191,220above the sector's middle half▲ 12.2%€186,805above the sector's middle half▼ 2.3%
Total assets€118,151-€122,835▲ 4.0%€133,842within the sector's middle half▲ 9.0%€140,077within the sector's middle half▲ 4.7%€153,166within the sector's middle half▲ 9.3%€178,939within the sector's middle half▲ 16.8%€207,546within the sector's middle half▲ 16.0%€236,580within the sector's middle half▲ 14.0%
Debt€12,560-€10,528▼ 16.2%€6,633▼ 37.0%€11,237▲ 69.4%€8,481▼ 24.5%€8,521▲ 0.5%€16,326▲ 91.6%€49,776▲ 205%
Working capital€102,001-€84,898▼ 16.8%€106,284above the sector's middle half▲ 25.2%€115,337above the sector's middle half▲ 8.5%€138,103above the sector's middle half▲ 19.7%€132,140above the sector's middle half▼ 4.3%€158,350above the sector's middle half▲ 19.8%€159,530above the sector's middle half▲ 0.7%
Solvency89.4%-91.4%▲ 2.1pp95.0%above the sector's middle half▲ 3.6pp92.0%above the sector's middle half▼ 3.1pp94.5%above the sector's middle half▲ 2.5pp95.2%above the sector's middle half▲ 0.8pp92.1%above the sector's middle half▼ 3.1pp79.0%above the sector's middle half▼ 13.2pp
Current ratio9.12-9.06▼ 0.0617.02above the sector's middle half▲ 7.9611.26above the sector's middle half▼ 5.7617.28above the sector's middle half▲ 6.0216.51above the sector's middle half▼ 0.7810.70above the sector's middle half▼ 5.814.20above the sector's middle half▼ 6.49
Return on assets (ROA)3.3%-5.5%▲ 2.1pp11.1%within the sector's middle half▲ 5.7pp9.0%within the sector's middle half▼ 2.2pp10.3%within the sector's middle half▲ 1.4pp14.4%within the sector's middle half▲ 4.0pp10.0%within the sector's middle half▼ 4.4pp11.9%within the sector's middle half▲ 1.8pp
above
within
below
The sector band is the middle half of the companies in Telecommunications (NACE 61). 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 33% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The abbreviated or 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 €236,580
Fixed assets
€27,275 ▼ 17.0%
Current assets
€209,306 ▲ 19.8%
Equity and liabilities €236,580
Equity
€186,805 ▼ 2.3%
Debt
€49,776 ▲ 205%
Debt's share of the balance-sheet total rises from 7.9% to 21.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€48,163▲
2024 · €38,193
Cash flow
€36,628▲
2024 · €29,126
Quick ratio
4.20▼
2024 · 10.69
Debt to equity
0.27▲
2024 · 0.09
ROE
15.0%▲
2024 · 10.9%
Interest coverage
81.77▲
2024 · 55.99
Debt ≤ 1 year
€49,776▲
2024 · €16,326
Income taxes
€11,724▲
2024 · €8,686
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €38,831 | €2,917 | €2,959 |
| Depreciation and write-downs of the year | €7,420 | €6,921 | €7,136 | €8,324 | €8,556 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €313 awarded · €474 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €157 | €157 |
| 2023 | 1 | €0 | €161 |
| 2022 | 1 | €156 | €156 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €9,000 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,308 | €8,363 | €7,939 | €7,420 | €6,921 | €7,136 | €8,324 | €8,556 | ▲ 2.8% |
| Other operating charges640/8 | - | - | - | €972 | €833 | €1,147 | €977 | €1,174 | ▲ 20.2% |
| Gross operating margin9900 | €11,213 | €19,487 | €30,972 | €27,040 | €31,487 | €44,697 | €39,170 | €49,338 | ▲ 26.0% |
| Operating profit (loss)9901 | €6,069 | €10,110 | €21,763 | €18,648 | €23,733 | €36,414 | €29,869 | €39,608 | ▲ 32.6% |
| Financial income75/76B | - | - | - | €46 | €69 | €249 | €301 | €778 | ▲ 158% |
| Recurring financial income75 | €178 | €55 | €42 | €46 | €69 | €249 | €301 | €778 | ▲ 158% |
| Financial charges65/66B | - | - | - | €230 | €320 | €448 | €682 | €589 | ▼ 13.7% |
| Recurring financial charges65 | €162 | €155 | €102 | €230 | €320 | €448 | €682 | €589 | ▼ 13.7% |
| Profit (loss) for the period before taxes9903 | €6,086 | €10,010 | €21,702 | €18,465 | €23,482 | €36,215 | €29,488 | €39,796 | ▲ 35.0% |
| Income taxes67/77 | €2,135 | €3,293 | €6,802 | €5,919 | €7,637 | €10,482 | €8,686 | €11,724 | ▲ 35.0% |
| Profit (loss) for the period9904 | €3,951 | €6,717 | €14,900 | €12,546 | €15,845 | €25,733 | €20,802 | €28,072 | ▲ 34.9% |
| Profit (loss) for the period to be appropriated9905 | €3,951 | €6,717 | €14,900 | €12,546 | €15,845 | €25,733 | €20,802 | €28,072 | ▲ 34.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €118,151 | €122,835 | €133,842 | €140,077 | €153,166 | €178,939 | €207,546 | €236,580 | ▲ 14.0% |
| Formation expenses20 | - | - | - | - | - | €0 | €0 | - | - |
| Fixed assets21/28 | €3,590 | €27,410 | €20,924 | €13,503 | €6,583 | €38,278 | €32,871 | €27,275 | ▼ 17.0% |
| Tangible fixed assets22/27 | €3,590 | €27,410 | €20,924 | €13,503 | €6,583 | €38,278 | €32,871 | €27,275 | ▼ 17.0% |
| Plant, machinery and equipment23 | - | - | - | - | - | €0 | €2,359 | €1,776 | ▼ 24.7% |
| Furniture and vehicles24 | - | - | - | €13,503 | €6,583 | €38,278 | €30,511 | €25,499 | ▼ 16.4% |
| Other tangible fixed assets26 | - | - | - | - | - | €0 | €0 | €0 | - |
| Current assets29/58 | €114,562 | €95,425 | €112,918 | €126,574 | €146,583 | €140,661 | €174,675 | €209,306 | ▲ 19.8% |
| Stocks and contracts in progress3 | €96 | €175 | €175 | €24 | €33 | €33 | €104 | €216 | ▲ 107% |
| Stocks30/36 | - | - | - | €24 | €33 | €33 | €104 | €216 | ▲ 107% |
| Amounts receivable within one year40/41 | €11,580 | €10,685 | €11,014 | €11,344 | €21,308 | €15,513 | €25,156 | €13,059 | ▼ 48.1% |
| Trade receivables40 | - | - | - | €10,463 | €21,308 | €11,831 | €25,120 | €13,022 | ▼ 48.2% |
| Other amounts receivable41 | - | - | - | €881 | - | €3,682 | €37 | €37 | = |
| Current investments50/53 | €2,422 | €2,422 | €2,422 | €2,422 | €2,422 | €2,422 | €2,422 | €5,922 | ▲ 145% |
| Cash at bank and in hand54/58 | €99,719 | €81,357 | €98,908 | €112,387 | €121,698 | €122,621 | €145,560 | €187,456 | ▲ 28.8% |
| Deferred charges and accrued income490/1 | - | - | - | €396 | €1,122 | €73 | €1,434 | €2,653 | ▲ 85.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €118,151 | €122,835 | €133,842 | €140,077 | €153,166 | €178,939 | €207,546 | €236,580 | ▲ 14.0% |
| Equity10/15 | €105,591 | €112,308 | €127,208 | €128,840 | €144,685 | €170,418 | €191,220 | €186,805 | ▼ 2.3% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €23,644 | €93,708 | €108,608 | €110,240 | €126,085 | €151,818 | €172,620 | €168,205 | ▼ 2.6% |
| Distributable reserves133 | - | - | - | €110,240 | €126,085 | €151,818 | €172,620 | €168,205 | ▼ 2.6% |
| Profit (loss) carried forward14 | €63,347 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €12,560 | €10,528 | €6,633 | €11,237 | €8,481 | €8,521 | €16,326 | €49,776 | ▲ 205% |
| Amounts payable within one year42/48 | €12,560 | €10,528 | €6,633 | €11,237 | €8,481 | €8,521 | €16,326 | €49,776 | ▲ 205% |
| Trade debts44 | €287 | €232 | - | - | €926 | €0 | €879 | €1,342 | ▲ 52.7% |
| Suppliers440/4 | - | - | - | - | €926 | €0 | €879 | €1,342 | ▲ 52.7% |
| Taxes, remuneration and social security45 | - | - | - | €6,081 | €2,670 | €3,158 | €8,552 | €11,326 | ▲ 32.4% |
| Taxes450/3 | - | - | - | €1,857 | €2,670 | €3,158 | €6,283 | €11,326 | ▲ 80.2% |
| Remuneration and social security454/9 | - | - | - | €4,225 | - | - | €2,268 | - | - |
| Other amounts payable47/48 | - | - | - | €5,156 | €4,884 | €5,363 | €6,895 | €37,107 | ▲ 438% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,951 | €6,717 | €14,900 | €12,546 | €15,845 | €25,733 | €20,802 | €28,072 | ▲ 34.9% |
| + Depreciation and write-downs630 | €4,308 | €8,363 | €7,939 | €7,420 | €6,921 | €7,136 | €8,324 | €8,556 | ▲ 2.8% |
| Operating cash flow (approximation) | €8,259 | €15,080 | €22,839 | €19,967 | €22,766 | €32,869 | €29,126 | €36,628 | ▲ 25.8% |
| Investment in fixed assets (approximation) | - | -€32,183 | -€1,452 | €0 | €0 | -€38,831 | -€2,917 | -€2,959 | ▼ 1.4% |
| Change in cash | - | -€18,363 | €17,551 | €13,480 | €9,311 | €923 | €22,938 | €41,897 | ▲ 82.6% |
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, 34,693 companies had the same profile as JS-IT has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of JS-IT 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 34,693 companies, not a prediction for JS-IT. 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 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 05-06-2026 | 2026-00139780 | |
| 31-12-2024 | micro format | 20-06-2025 | 2025-00164283 | |
| 31-12-2023 | micro format | 30-05-2024 | 2024-00100999 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00162483 | |
| 31-12-2021 | micro format | 24-06-2022 | 2022-20088987 | |
| 31-12-2020 | micro format | 28-06-2021 | 2021-25500282 | |
| 31-12-2019 | abbreviated format | 25-06-2020 | 2020-20900585 | |
| 31-12-2018 | abbreviated format | 28-06-2019 | 2019-24800516 | |
| 31-12-2017 | abbreviated format | 29-06-2018 | 2018-26100025 | |
| 31-12-2016 | abbreviated format | 17-07-2017 | 2017-32600430 |