JSMS Construct
ActiveSummary
JSMS Construct has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €283,040 and a net result of -€166,486. Equity is shrinking by ~12% per year across the filed fiscal years. Its solvency ranks better than 22% of 9268 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability27=
Solvency29▼-4
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity short (current ratio 0.02 against 0.02 in 2024; short-term debt: 13.6% and cash: 0.2% of total assets), and 96% of the assets are financed with debt.
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Signals
Seven 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 →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
4%
Return on assets
-2.4%
Age of the figures
9 mo
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
202122232425
2020 to 2025 · latest year -€166,486
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 9268 sector peers (2025).
NBB · sector comparisonPosition among 9268 sector peers
Solvency
better than 22%
← weakest
strongest →
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 31-07-2026, 0 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
on the day
2022
on the day
2021
31 d early
2020
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average on the deadline day; 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#2 company by total assets in Enghien, Real estate sector#9 company by equity in Enghien, Real estate sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€166,486▼ 59.4%
2024 · -€104,429
Working capital
-€931,926▼ 109%
2024 · -€446,561
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€6,170▼ 82.5%-€16,810-€2,597▲ 84.5%-€40,610▼ 1,463%-€88,542▼ 118%
Net result-€11,615-€38,779▼ 234%-€67,592▼ 74.3%-€104,429▼ 54.5%-€166,486▼ 59.4%
Equity€660,326▼ 1.7%€621,546▼ 5.9%€553,955▼ 10.9%€449,526▼ 18.9%€283,040▼ 37.0%
Total assets€2.7m▲ 87.8%€2.8m▲ 6.7%€2.8m▼ 1.6%€5.5m▲ 95.2%€7.0m▲ 28.2%
Debt€2.0m▲ 168%€2.2m▲ 10.8%€2.2m▲ 1.0%€5.0m▲ 123%€6.7m▲ 34.1%
Working capital-€567,616▼ 92.3%-€772,884▼ 36.2%-€213,882▲ 72.3%-€446,561▼ 109%-€931,926▼ 109%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €88,542 in 2025 against €40,610 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 €7.0m
Fixed assets
€7.0m ▲ 28.1%
Current assets
€18,497 ▲ 109%
Equity and liabilities €7.0m
Equity
€283,040 ▼ 37.0%
Debt
€6.7m ▲ 34.1%
Debt's share of the balance-sheet total rises from 91.8% to 96.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€101,242▲
2024 · €79,458
Cash flow
€23,298▲
2024 · €15,639
Current ratio
0.02=
2024 · 0.02
Debt to equity
23.78▲
2024 · 11.17
ROE
-58.8%▼
2024 · -23.2%
ROA
-2.4%▼
2024 · -1.9%
Interest coverage
1.30▲
2024 · 1.24
Debt ≤ 1 year
€950,423▲
2024 · €455,425
Debt > 1 year
€5.8m▲
2024 · €4.6m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €40,988 | €52,463 | €62,484 | €120,068 | €189,784 | ▲ 58.1% |
| Other operating charges640/8 | €13,144 | €11,567 | €13,625 | €14,247 | €14,356 | ▲ 0.8% |
| Gross operating margin9900 | €60,302 | €47,221 | €73,511 | €93,704 | €115,598 | ▲ 23.4% |
| Operating profit (loss)9901 | €6,170 | -€16,810 | -€2,597 | -€40,610 | -€88,542 | ▼ 118% |
| Financial income75/76B | €0 | €1 | - | €106 | €13 | ▼ 87.6% |
| Recurring financial income75 | €0 | €1 | - | €106 | €13 | ▼ 87.6% |
| Financial charges65/66B | €12,214 | €21,970 | €64,994 | €63,924 | €77,957 | ▲ 22.0% |
| Recurring financial charges65 | €12,214 | €21,970 | €64,994 | €63,924 | €77,957 | ▲ 22.0% |
| Profit (loss) for the period before taxes9903 | -€6,044 | -€38,779 | -€67,592 | -€104,429 | -€166,486 | ▼ 59.4% |
| Income taxes67/77 | €5,571 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€11,615 | -€38,779 | -€67,592 | -€104,429 | -€166,486 | ▼ 59.4% |
| Profit (loss) for the period to be appropriated9905 | -€11,615 | -€38,779 | -€67,592 | -€104,429 | -€166,486 | ▼ 59.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.7m | €2.8m | €2.8m | €5.5m | €7.0m | ▲ 28.2% |
| Fixed assets21/28 | €2.6m | €2.8m | €2.8m | €5.5m | €7.0m | ▲ 28.1% |
| Tangible fixed assets22/27 | €2.6m | €2.8m | €2.8m | €5.5m | €7.0m | ▲ 28.1% |
| Land and buildings22 | €2.6m | €2.8m | €2.8m | €5.5m | €7.0m | ▲ 28.1% |
| Current assets29/58 | €21,862 | €3,987 | €10,040 | €8,864 | €18,497 | ▲ 109% |
| Amounts receivable within one year40/41 | €4,000 | €506 | €0 | - | €1,114 | - |
| Trade receivables40 | €4,000 | €506 | €0 | - | €1,114 | - |
| Cash at bank and in hand54/58 | €13,909 | €1,418 | €3,335 | €5,687 | €11,087 | ▲ 95.0% |
| Deferred charges and accrued income490/1 | €3,953 | €2,063 | €6,705 | €3,177 | €6,296 | ▲ 98.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.7m | €2.8m | €2.8m | €5.5m | €7.0m | ▲ 28.2% |
| Equity10/15 | €660,326 | €621,546 | €553,955 | €449,526 | €283,040 | ▼ 37.0% |
| Contributions10/11 | €644,000 | €644,000 | €644,000 | €644,000 | €644,000 | = |
| Profit (loss) carried forward14 | €16,326 | -€22,454 | -€90,045 | -€194,474 | -€360,960 | ▼ 85.6% |
| Amounts payable17/49 | €2.0m | €2.2m | €2.2m | €5.0m | €6.7m | ▲ 34.1% |
| Amounts payable after more than one year17 | €1.4m | €1.4m | €2.0m | €4.6m | €5.8m | ▲ 26.3% |
| Financial debts170/4 | €1.4m | €1.4m | €2.0m | €4.6m | €5.8m | ▲ 26.3% |
| Amounts payable within one year42/48 | €589,478 | €776,871 | €223,922 | €455,425 | €950,423 | ▲ 109% |
| Current portion of amounts payable after more than one year42 | €84,309 | €85,462 | €86,632 | €194,283 | €197,334 | ▲ 1.6% |
| Trade debts44 | €4,212 | €18,172 | €10,663 | €114,320 | €41,661 | ▼ 63.6% |
| Suppliers440/4 | €4,212 | €18,172 | €10,663 | €114,320 | €41,661 | ▼ 63.6% |
| Taxes, remuneration and social security45 | €5,571 | €0 | - | - | €6,552 | - |
| Taxes450/3 | €5,571 | €0 | - | - | €6,552 | - |
| Other amounts payable47/48 | €495,387 | €673,238 | €126,628 | €146,822 | €704,875 | ▲ 380% |
| Accrued charges and deferred income492/3 | €1,220 | €1,220 | €18,169 | €8,611 | €26,470 | ▲ 207% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,615 | -€38,779 | -€67,592 | -€104,429 | -€166,486 | ▼ 59.4% |
| + Depreciation and write-downs630 | €40,988 | €52,463 | €62,484 | €120,068 | €189,784 | ▲ 58.1% |
| Operating cash flow (approximation) | €29,373 | €13,684 | -€5,108 | €15,639 | €23,298 | ▲ 49.0% |
| Investment in fixed assets (approximation) | - | -€247,907 | -€11,497 | -€2.8m | -€1.7m | ▲ 38.2% |
| Change in cash | - | -€12,491 | €1,917 | €2,352 | €5,400 | ▲ 130% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€166,486
Net result drops to -€166,486, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 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, Enghien · 1 establishment unit since 2019
Ground area
378 m²
Building footprint
306 m²
Volume, LiDAR
2,312 m³
2 parcels, Wallonia · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
JSMS Construct
since 20192.294.478.778
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55033B0386/00H000 | Wallonia | 228 m² | 1 · 240 m² | 10.3 m · 2 fl. |
| 55010D0174/00B000 | Wallonia | 150 m² | 1 · 66 m² | 11.5 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,770. 4,940 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
Founded13-09-2019
Fiscal year end31-12
Activities, NACEBEL 2025
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
Scores and ratios are computed by Checked and are not a credit decision.