Equity
€6.2m ▲ 70.6%
Equity rose in 2025 from €3.6m to €6.2m.
JAGA
Lifetime
19 annual accounts with figures on one time axis, 48 filings since 1977peak €70.3m (2016)
€58.0m▲ 1.4%
lowest -€1.9m (2011)
-€1.6m▲ €33,048
peak €7.5m (2007)
€6.2m▲ 70.6%
€25.8m▲ 29.0%
peak 472.8 FTE (2008)
282.3 FTE▼ 5.4%
Board10 names since 2017
3 directorsJan Joseph Kriekels and 2 others
Owners2 names in the annual accounts
Documentsfilings and deeds
19-06-202642 days before the deadline
2025financial year
Loss of €1.6mPermanent representative: JAN BATTHEU 16-102 directors appointed, 2 resignations 28-05Equity from €3.6m to €6.2mDebts from €20.0m to €25.8mInvestments €6.8m
Key points
from the 2025 annual accountsLosses
-€3.2m in two years
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
Debts
€25.8m 78% of the balance sheet
Financial debts 45%Suppliers 31%Taxes and wages 16%Other 8%
€11.9m of the debts are secured on the company's own assets. In 2021 that was €3.3m.
Staff
282.3 FTE from 472.8 in 2008
Between 2008 and 2025, 40% of the full-time equivalents disappeared.
Filings
48 annual accounts since 1977
Two of the last ten came late. The 2024 accounts came latest: 305 days after the end of the period.
Position in the sector
-€1.6m
Lower net result than 95% of companies in fabricated metal products. Sector median €79,515 · 834 companies.
Checked score
62
Healthy
Financially stronger than 31% of all companies
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.6% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 22 companies (NACE 25, large).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.6%
01-2025: 0.6%● unchanged vs 12-2024
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.6%● unchanged vs 03-2025lowest value
05-2025: 0.6%● unchanged vs 04-2025
06-2025: 0.6%● unchanged vs 05-2025
07-2025: 0.8%▲ +0.2 percentage points vs 06-2025
08-2025: 4.5%▲ +3.7 percentage points vs 07-2025
09-2025: 4.5%● unchanged vs 08-2025
10-2025: 4.5%● unchanged vs 09-2025
11-2025: 4.5%● unchanged vs 10-2025
12-2025: 4.5%● unchanged vs 11-2025
01-2026: 4.5%● unchanged vs 12-2025
02-2026: 4.5%● unchanged vs 01-2026
03-2026: 4.4%▼ -0.1 percentage points vs 02-2026
04-2026: 4.4%● unchanged vs 03-2026
05-2026: 4.4%● unchanged vs 04-2026
06-2026: 4.5%▲ +0.1 percentage points vs 05-2026highest value
07-2026: 1.6%▼ -2.9 percentage points vs 06-2026
08-2026: 1.6%● unchanged vs 07-2026
09-2026: 1.6%● unchanged vs 08-2026
10-2026: 1.6%● unchanged vs 09-2026
11-2026: 1.6%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 0.87, cash €1.0m
Equity €6.2m (18.7% of total assets)
Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
Loss of €1.6m, the second in a row (financial year 2025)
Calculation
The band follows from the bankruptcy probability. 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 (all companies). It does better than 30% of them on solvency, 12% on liquidity, 14% on profitability and 70% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 137 companies had the same profile as JAGA has now. Each dot is one company, two years later.
95.6%
were still trading
2.2%
stopped another way
2.2%
went bankrupt
That fits the bankruptcy probability of JAGA itself: 1.6% within 12 months.
Test of the method
The method was tested on the 497,447 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 137 companies, not a prediction for JAGA. 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.
Credit verdict
Credit of up to €380,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.87 (1.07 in 2024), below 1. Short-term debt is 71.1% and cash 3% of total assets. 81.3% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 834 sector peers (2025).
NBB · sector comparisonPosition among 834 sector peers
Solvency
better than 16%
← 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 19-06-2026, 42 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
42 days early
2024
305 days late
2023
7 days early
2022
33 days early
2021
24 days early
2020
25 days early
2019
28 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 21 days after the deadline. In the sector (NACE 25), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 7 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- CLIMATE DESIGNERS FOR NET ZERO 100%equity €3.9m (2025) · annual accounts 2025
Shares in 2 companies, Jaga Deutschland and Jagaros LLC
Board & ownershipRecent changes
Capital increase of €2,250,000 to €5,450,000
Capital from €3,200,000 to €5,450,000 · General meeting of 30-09-2026 · Gazette deed
1 director appointed, 2 resignations, 1 reappointment
Appointment: CDNZ RE (managing director) · Permanent representatives: Guy Vande Vyvere and Jan Battheu · Resignations: Vybros Capital Partners and CLIMATE DESIGNERS FOR NET ZERO (managing director) · General meeting of 04-09-2026 · Gazette deed
Permanent representative: JAN BATTHEU
Appointment: Callens, Vandelanotte & Theunissen BV (statutory auditor) · General meeting of 27 06 2025 · Gazette deed
2 directors appointed, 2 resignations
Resignations: Jan Kriekels (managing director) and Licoma NV · Permanent representatives: François Vermer, Jan Battheu and Guy Vande Vyvere · Appointments: Climate Designers for Net Zero BV (managing director) and Vybros Capital Partners BV · General meeting of 14-05-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| JAGA Diepenbeek | €58.0m | -2.3% | 18.7% | 282.3 |
| Groupe Atlantic Manufacturing Belgium Seneffe | €35.4m | -55.9% | -56.6% | 129.2 |
| Constructiebedrijf Ivens Antwerp | €64.4m | -0.4% | 22.2% | 115.3 |
| VERDON Courcelles | €116.5m | 13.1% | 31.0% | 146 |
| HENCO INDUSTRIES Herentals | €116.9m | 14.0% | 66.5% | 254.8 |
| Purmo Group Belgium Zonhoven | €56.6m | 3.8% | 55.7% | 72.1 |
| METUBEL La Louvière | €21.6m | 14.5% | 39.6% | 155.9 |
Grey: the largest companies of the sector (fabricated metal products (NACE 25)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as JAGA: manufacture of fabricated metal products, except machinery and equipment (NACE 25210). They are comparable in size and age: total assets between €13m and €94m, founded between 1965 and 1991.
Official details
Source: KBO- Status
- Active since 01-01-1973Normal situation
- Activity
- Manufacture of fabricated metal products, except machinery and equipmentNACE 25210
- Joint committees
- 111Metal, mechanical and electrical engineering
- 209White-collar workers in metal manufacturing · annual accounts 2025
- Establishment units
- 2.008.491.7973590 Diepenbeek, since 01-08-1973
- 2.272.458.0959031 Ghent, since 01-12-2017
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- €33.3m▲ 39.7%
- Employeeson 31-12-2025
- 273▼ 15.7%
- Filing
- Filed on 19-06-2026, 42 days before the end of the filing period
Companies linked to JAGA
Parent and group
Insights on JAGA
Turnover has grown every year since 2020.
CLIMATE DESIGNERS FOR NET ZERO holds all the shares. In September 2026, the Official Gazette published the appointment of CDNZ RE as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about JAGA
- What is the company number of JAGA?
- The company number of JAGA is 0413.382.425. The VAT number is the same number with BE in front: BE 0413.382.425.
- Where is JAGA based?
- The registered office is at Verbindingslaan 16, 3590 Diepenbeek.Company details
- What does JAGA do?
- According to the KBO register, the main activity is manufacture of fabricated metal products, except machinery and equipment (NACE 25210).
- What is the legal form of JAGA?
- JAGA is a public limited company (NV).
- When was JAGA founded?
- JAGA was founded on 01-01-1973.
- Is JAGA still active?
- Yes, JAGA is an active enterprise in the KBO register.
- How many employees does JAGA have?
- JAGA had an average of 282.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does JAGA fall under?
- In its 2025 annual accounts, JAGA states joint committees 111 (Metal, mechanical and electrical engineering) and 209 (White-collar workers in metal manufacturing).
- What is the turnover of JAGA?
- The turnover of JAGA was €58.0m in financial year 2025, according to the filed annual accounts.
- Is JAGA profitable?
- In financial year 2025, JAGA made a loss of €1.6m.
- Where can I find the annual accounts of JAGA?
- JAGA filed 48 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of JAGA due?
- JAGA must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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