JSA
ActiveSummary
JSA has been active since 1987 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €124.0m and a net result of €3.0m. Equity is growing by about 5.8% per year across the filed financial years. Its solvency ranks better than 83% of 3,858 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Equity
- €124.0m
- Profit
- €3.0m
- Parent
- JSA TOP · 51%
- Holdings
- 1
- Eric JacquetDirector
- Ernest JacquetDirector
- Thierry PhilippeDirector
Why 91raises riskLiquidity: current ratio 3.87, cash €97,4121 of the last 3 latelowers riskFounded in 1987Size: total assets €138.1mShow the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 70, large): better than 75% on solvency, 49% on liquidity, 57% on profitability and 49% on growth.
The bankruptcy probability was computed on 30-10-2026 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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Signals
This company filed its last 7 accounts on average 14 days before the deadline; the sector median (NACE 70) for financial year 2024 is 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Annual accounts filedfinancial year 2024 · full…
- Reappointments: Eric Jacquet, Ernest Jacquet and…Power of attorney
Financials · financial year 2025, full format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €10,215 in 2025 against €18,970 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: 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).
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €0.01m | - | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 3.2% |
| Gross operating margin9900 | - | -€0.03m | -€0.006m | -€0.002m | -€0.009m | -€0.01m | -€0.02m | -€0.009m | ▲ 48.8% |
| Operating profit (loss)9901 | €0.002m | -€0.03m | -€0.006m | -€0.003m | -€0.01m | -€0.01m | -€0.02m | -€0.01m | ▲ 46.1% |
| Financial income75/76B | - | - | - | €3.9m | €9.7m | €10.7m | €3.7m | €3.2m | ▼ 13.7% |
| Recurring financial income75 | €6.8m | €6.8m | €2.2m | €3.9m | €9.7m | €10.7m | €3.7m | €3.2m | ▼ 13.7% |
| Financial charges65/66B | - | - | - | -€0.3m | €0.1m | €0.09m | €0.07m | €0.07m | ▼ 7.5% |
| Recurring financial charges65 | €0.3m | €0.2m | €0.7m | -€0.3m | €0.1m | €0.09m | €0.07m | €0.07m | ▼ 7.5% |
| Debt charges650 | €0.3m | - | - | - | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €6.5m | €6.5m | €1.6m | €4.2m | €9.5m | €10.6m | €3.6m | €3.1m | ▼ 13.7% |
| Income taxes67/77 | - | - | - | - | - | - | -€0.008m | €0.07m | - |
| Profit (loss) for the period9904 | €6.5m | €6.5m | €1.6m | €4.2m | €9.5m | €10.6m | €3.6m | €3.0m | ▼ 15.8% |
| Profit (loss) for the period to be appropriated9905 | €6.5m | €6.5m | €1.6m | €4.2m | €9.5m | €10.6m | €3.6m | €3.0m | ▼ 15.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €98.5m | €103.0m | €108.7m | €110.0m | €122.2m | €131.5m | €137.1m | €138.1m | ▲ 0.7% |
| Fixed assets21/28 | €91.3m | €91.3m | €91.4m | €91.4m | €91.4m | €91.4m | €91.4m | €91.4m | = |
| Tangible fixed assets22/27 | - | - | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Furniture and vehicles24 | - | - | - | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Financial fixed assets28 | €91.3m | €91.3m | €91.3m | €91.3m | €91.3m | €91.3m | €91.3m | €91.3m | = |
| Current assets29/58 | €7.2m | €11.7m | €17.2m | €18.6m | €30.7m | €40.1m | €45.7m | €46.7m | ▲ 2.2% |
| Amounts receivable within one year40/41 | - | €0.006m | €0.03m | €0.04m | €0.05m | €0.06m | €0.06m | €0.07m | ▲ 23.1% |
| Other amounts receivable41 | - | - | - | €0.04m | €0.05m | €0.06m | €0.06m | €0.07m | ▲ 23.1% |
| Current investments50/53 | €0.3m | €0.3m | €2.7m | €13.2m | €30.2m | €39.7m | €45.5m | €46.5m | ▲ 2.2% |
| Cash at bank and in hand54/58 | €6.9m | €11.4m | €14.5m | €5.4m | €0.5m | €0.4m | €0.07m | €0.1m | ▲ 32.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | - | - | €0.03m | €0.02m | ▼ 29.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €98.5m | €103.0m | €108.7m | €110.0m | €122.2m | €131.5m | €137.1m | €138.1m | ▲ 0.7% |
| Equity10/15 | €85.0m | €91.5m | €93.1m | €97.3m | €106.8m | €117.4m | €121.0m | €124.0m | ▲ 2.5% |
| Contributions10/11 | €22.3m | €22.3m | €22.3m | €22.3m | €22.3m | €22.3m | €22.3m | €22.3m | = |
| Capital10 | - | - | - | €22.3m | €22.3m | €22.3m | €22.3m | €22.3m | = |
| Issued capital100 | - | - | - | €22.3m | €22.3m | €22.3m | €22.3m | €22.3m | = |
| Reserves13 | €62.7m | €69.2m | €70.8m | €75.0m | €84.5m | €95.1m | €98.7m | €101.7m | ▲ 3.1% |
| Non-distributable reserves130/1 | - | - | - | €2.2m | €2.2m | €2.2m | €2.2m | €2.2m | = |
| Legal reserve130 | - | - | - | €2.2m | €2.2m | €2.2m | €2.2m | €2.2m | = |
| Tax-exempt reserves132 | - | - | - | €221 | €221 | €221 | €221 | €221 | = |
| Distributable reserves133 | - | - | - | €72.7m | €82.3m | €92.8m | €96.4m | €99.5m | ▲ 3.1% |
| Amounts payable17/49 | €13.5m | €11.5m | €15.6m | €12.8m | €15.3m | €14.1m | €16.1m | €14.1m | ▼ 12.6% |
| Amounts payable after more than one year17 | €11.4m | €9.4m | €7.4m | - | €8.0m | €6.0m | €4.0m | €2.0m | ▼ 50.0% |
| Financial debts170/4 | - | - | - | - | €8.0m | €6.0m | €4.0m | €2.0m | ▼ 50.0% |
| Amounts payable within one year42/48 | €2.0m | €2.0m | €8.1m | €12.7m | €7.3m | €8.1m | €12.1m | €12.1m | ▼ 0.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7.4m | €2.0m | €2.0m | €2.0m | €2.0m | = |
| Trade debts44 | €0.005m | €0.004m | €0.004m | - | - | €0.001m | €0.005m | €0.004m | ▼ 10.8% |
| Suppliers440/4 | - | - | - | - | - | €0.001m | €0.005m | €0.004m | ▼ 10.8% |
| Taxes, remuneration and social security45 | - | - | - | - | - | - | - | €0.07m | - |
| Taxes450/3 | - | - | - | - | - | - | - | €0.07m | - |
| Other amounts payable47/48 | - | - | - | €5.3m | €5.3m | €6.1m | €10.1m | €10.0m | ▼ 1.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.06m | €0.04m | €0.04m | €0.03m | €0.03m | ▲ 22.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6.5m | €6.5m | €1.6m | €4.2m | €9.5m | €10.6m | €3.6m | €3.0m | ▼ 15.8% |
| Operating cash flow (approximation) | €6.5m | €6.5m | €1.6m | €4.2m | €9.5m | €10.6m | €3.6m | €3.0m | ▼ 15.8% |
| Investment in fixed assets (approximation) | - | €0 | -€0.09m | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €4.5m | €3.1m | -€9.1m | -€4.9m | -€0.1m | -€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.
Latest 10 of 38 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 17-07-2026 | 2026-00305039 |
| 31-12-2024 | full format | 20-06-2025 | 2025-00158229 |
| 31-12-2023 | full format | 16-12-2024 | 2024-00616203 |
| 31-12-2022 | full format | 20-06-2023 | 2023-00137783 |
| 31-12-2021 | full format | 30-06-2022 | 2022-20117615 |
| 31-12-2020 | full format | 06-05-2021 | 2021-13400500 |
| 31-12-2019 | full format | 10-07-2020 | 2020-29100443 |
| 31-12-2018 | full format | 24-06-2019 | 2019-22500462 |
| 31-12-2017 | full format | 31-05-2018 | 2018-15200435 |
| 31-12-2016 | full format | 29-05-2017 | 2017-13500487 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 3
Statutory auditor 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| Eric Jacquet |
|
| Ernest Jacquet |
|
| Thierry Philippe |
|
| EY Réviseurs d'Entreprises SRL |
|
Owners and capital
Owners
1 ownerChain of control
- JSA TOP
- JSA
Highest known parent: JSA TOP. The sources do not say who stands above it.
Owners 1
- JSA TOPparentSourceaccounts JSA TOP 202551%
According to the 2025 annual accounts of JSA and those of the other companies, 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.
Group and network
Holdings and subsidiaries
1 holdingHoldings 1
-
40.16%
According to the 2025 annual accounts of JSA and those of the other companies, 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.
Connections & network
3 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
11-06
Gazette deed
Reappointments: Eric Jacquet, Ernest Jacquet and 2 othersPower of attorney7 facts ▸
- General meeting, 12-05-2025
- Director reappointment, Eric Jacquet (director)
- Director reappointment, Ernest Jacquet (director)
- Director reappointment, Thierry Philippe (director)
- Auditor reappointment, SRL EY Réviseurs d'Entreprises (statutory auditor)
- Power of attorney, Virginie Frémat
- Power of attorney, Frederik Verstreken
03-01
Gazette deed
Amendment of the articles1 fact ▸
- Amendment of the articles (2 times)
28-09
Gazette deed
Permanent representatives: Emilie Van Callemont and Marie-Laure Moreau3 facts ▸
- General meeting, 15-06-2023
- Permanent representative, Emilie Van Callemont (représentant permanent du commissaire)
- Permanent representative, Marie-Laure Moreau (représentant permanent du commissaire)
02-06
Gazette deed
Reappointments: Eric Jacquet, Ernest Jacquet and 2 othersRegistered office clause6 facts ▸
- Registered office clause, “Rue de l'Abbaye, 4040 Herstal, Belgique” (deed in French)
- General meeting, 25-05-2022
- Director reappointment, Eric Jacquet (director)
- Director reappointment, Ernest Jacquet (director)
- Director reappointment, Thierry Philippe (director)
- Auditor reappointment, EY Réviseurs d'Entreprises (statutory auditor)
Show earlier events
About the unread acts
Of the 19 Belgian Official Gazette deeds we know for this company, 4 have been read. The other 15 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
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Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Legal Entity Identifier
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62312B0024/00S005 | Wallonia | 4,492 m² | 1 · 1,056 m² | 8.8 m · 2 |
How the parcels are linked
Articles of association
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 21. Pouvoir de représentation externe Sans préjudice (i) du pouvoir de représentation dans le cadre de la gestion journalière visée…”
- Board ruleHow the board is made up, meets and takes decisions.
- “1, administrateur unique” (deed in French)“Article 18, DISPOSITIONS EN VIGUEUR EN CAS DE NOMINATION D’UN ADMINISTRATEUR UNIQUE” (deed in French)“Administrateur unique, totalité” (deed in French)
- Power of attorneyA special mandate allowing someone to perform one or more acts on the company's behalf.
- One provision in the deed