JE Cleantech Holdings Limited (JCSE) Balance Sheet
JCSE balance sheet, 2025
December 31, 2025 · Singapore dollarsS$33.0M assets = S$13.2M liabilities + S$19.8M equity
Both columns are drawn to the same scale: what JCSE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
JCSE financial health
Descriptive bands, not a rating. Fiscal 2025.
JCSE balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | S$36.6M2018 | S$33.0M2025 | −1.5%/yr | |
| Total liabilities | S$19.5M2018 | S$13.2M2025 | −5.4%/yr | |
| Shareholders’ equity | S$17.1M2018 | S$19.8M2025 | +2.1%/yr | |
| Cash & short-term investments | S$1.5M2018 | S$9.9M2025 | +31.2%/yr | |
| Total debt | S$13.5M2018 | S$4.4M2025 | −14.7%/yr | |
| Net cash (debt) | −S$12.0M2018 | S$5.5M2025 | +S$17.5M | |
| Working capital | S$2.5M2018 | S$17.4M2025 | +S$14.8M | |
| Current ratio | 1.252018 | 2.732025 | +1.48 | |
| Debt / equity | 0.792018 | 0.222025 | −0.56 | |
| Shares outstanding | 15.0M2019 | 5.3M2025 | −15.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
JCSE assets
JCSE liabilities and equity
JCSE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
JCSE balance sheet in Singapore dollars
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | S$9.9M | S$5.7M | S$5.1M | S$6.6M | S$1.1M | S$550,000 | S$843,000 | S$1.5M |
| Cash & equivalents | S$9.9M | S$5.7M | S$5.1M | S$6.6M | S$1.1M | S$550,000 | S$843,000 | S$1.5M |
| Short-term investments | — | — | S$47,000 | S$39,000 | S$68,000 | S$79,000 | S$79,000 | — |
| Receivables | S$7.6M | S$4.5M | S$4.8M | S$5.6M | S$3.2M | S$9.2M | S$4.8M | S$7.4M |
| Inventory | S$9.2M | S$12.6M | S$14.1M | S$11.9M | S$2.6M | S$1.4M | S$3.1M | S$3.4M |
| Other current assets | S$689,848 | S$2.8M | S$2.7M | S$2.2M | S$847,000 | S$326,000 | S$220,000 | S$324,422 |
| Total current assets | S$27.4M | S$25.7M | S$26.7M | S$26.3M | S$7.7M | S$11.5M | S$9.0M | S$12.7M |
| Property, plant & equipment (net) | S$4.7M | S$5.7M | S$8.5M | S$8.8M | S$9.0M | S$8.9M | S$9.2M | S$23.9M |
| Goodwill & intangible assets | S$0 | S$0 | S$0 | S$0 | S$0 | S$0 | S$0 | S$0 |
| Long-term investments | S$764,000 | S$506,000 | S$245,000 | S$245,000 | S$243,000 | S$240,000 | S$239,000 | S$0 |
| Other non-current assets | S$73,812 | S$3.2M | S$74,000 | S$66,000 | S$1.5M | S$1.1M | S$635,000 | S$1 |
| Total assets | S$33.0M | S$35.1M | S$35.5M | S$35.5M | S$18.4M | S$21.8M | S$19.1M | S$36.6M |
| Liabilities | ||||||||
| Accounts payable | S$1.9M | S$605,000 | S$1.4M | S$1.8M | S$1.9M | S$2.4M | S$1.8M | S$2.2M |
| Short-term debt | S$1.3M | S$1.6M | S$4.5M | S$6.5M | S$7.1M | S$5.8M | S$6.0M | S$6.4M |
| Deferred revenue | S$5.8M | S$6.7M | S$7.0M | S$4.3M | S$364,000 | S$1.4M | S$29,000 | S$314,376 |
| Total current liabilities | S$10.1M | S$10.1M | S$13.8M | S$13.8M | S$9.4M | S$9.6M | S$8.3M | S$10.1M |
| Long-term debt | S$2.9M | S$7.5M | S$3.7M | S$4.0M | S$4.4M | S$4.9M | S$5.3M | S$0 |
| Lease obligations | S$408,000 | S$1.3M | S$1.6M | S$1.7M | S$1.6M | S$1.3M | S$1.3M | — |
| Other long-term liabilities | S$283,288 | S$1.1M | S$1.3M | S$1.4M | S$1.5M | S$1.3M | S$1.3M | S$9.3M |
| Total liabilities | S$13.2M | S$18.6M | S$18.8M | S$19.2M | S$15.4M | S$15.8M | S$14.9M | S$19.5M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | S$20,994 | S$21,000 | S$20,000 | S$20,000 | S$16,000 | S$16,000 | S$16,000 | S$490,145 |
| Retained earnings (deficit) | S$4.4M | S$1.2M | S$1.1M | S$607,000 | −S$585,000 | S$2.3M | S$586,000 | S$1.5M |
| Accumulated other comprehensive income | −S$75,982 | −S$128,000 | −S$101,000 | −S$32,000 | −S$34,000 | −S$10,000 | −S$64,000 | S$15.1M |
| Total shareholders' equity | S$19.8M | S$16.5M | S$16.7M | S$16.3M | S$3.0M | S$5.9M | S$4.2M | S$17.1M |
| Key figures | ||||||||
| Total debt | S$4.4M | S$10.1M | S$9.6M | S$11.9M | S$13.0M | S$11.8M | S$12.5M | S$13.5M |
| Net cash (debt) | S$5.5M | −S$4.3M | −S$4.4M | −S$5.3M | −S$11.8M | −S$11.2M | −S$11.6M | −S$12.0M |
| Working capital | S$17.4M | S$15.6M | S$12.9M | S$12.5M | −S$1.7M | S$1.9M | S$711,000 | S$2.5M |
| Tangible book value | S$19.8M | S$16.5M | S$16.7M | S$16.3M | S$3.0M | S$5.9M | S$4.2M | S$17.1M |
| Shares outstanding | 5.3M | 5.1M | 5.0M | 14.1M | 15.0M | 15.0M | 15.0M | — |
| Current ratio | 2.73 | 2.55 | 1.94 | 1.91 | 0.82 | 1.19 | 1.09 | 1.25 |
| Quick ratio | 1.74 | 1.02 | 0.72 | 0.88 | 0.46 | 1.02 | 0.69 | 0.88 |
| Debt / equity | 0.22 | 0.61 | 0.57 | 0.73 | 4.29 | 1.98 | 2.99 | 0.79 |
| Equity / assets | 59.9% | 47.0% | 47.1% | 45.9% | 16.4% | 27.3% | 21.8% | 46.8% |
| Mar '26 | Dec '25 | Sep '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | S$9.9M | S$9.9M | S$5.0M | S$5.7M | S$5.7M | S$4.9M | S$4.8M | S$5.1M | S$5.1M | S$6.6M | S$4.9M | S$6.6M |
| Cash & equivalents | S$9.9M | S$9.9M | S$5.0M | S$5.7M | S$5.7M | S$4.8M | S$4.8M | S$5.1M | S$5.1M | S$6.6M | S$4.9M | S$6.6M |
| Short-term investments | — | — | — | — | — | S$47,000 | — | S$47,000 | — | S$47,000 | S$39,000 | S$39,000 |
| Receivables | S$7.6M | S$7.4M | S$3.3M | S$4.5M | S$4.5M | S$5.0M | S$5.0M | S$4.8M | S$4.8M | S$5.6M | S$6.1M | S$5.6M |
| Inventory | S$9.2M | S$9.2M | S$13.5M | S$12.6M | S$12.6M | S$12.9M | S$12.9M | S$14.1M | S$14.1M | S$11.9M | S$12.3M | S$11.9M |
| Other current assets | S$689,848 | S$837,000 | S$1.4M | S$2.8M | S$2.8M | S$3.0M | S$3.0M | S$2.7M | S$2.7M | S$2.2M | S$2.5M | S$2.2M |
| Total current assets | S$27.4M | S$27.4M | S$23.2M | S$25.7M | S$25.7M | S$25.7M | S$25.7M | S$26.7M | S$26.7M | S$26.3M | S$25.8M | S$26.3M |
| Property, plant & equipment (net) | S$4.7M | S$4.7M | S$5.4M | S$5.7M | S$5.7M | S$8.2M | S$8.2M | S$8.5M | S$8.5M | S$8.8M | S$8.7M | S$8.8M |
| Goodwill & intangible assets | S$0 | S$0 | S$0 | S$0 | S$0 | S$0 | S$0 | S$0 | S$0 | S$5.6M | S$6.1M | S$5.6M |
| Long-term investments | S$0 | S$764,000 | S$0 | S$0 | S$506,000 | S$0 | S$499,000 | S$0 | S$245,000 | S$0 | S$245,000 | S$0 |
| Other non-current assets | S$837,812 | S$121,000 | S$4.1M | S$3.7M | S$3.2M | S$637,000 | S$138,000 | S$319,000 | S$74,000 | S$0 | S$0 | S$0 |
| Total assets | S$33.0M | S$33.0M | S$32.7M | S$35.1M | S$35.1M | S$34.5M | S$34.5M | S$35.5M | S$35.5M | S$35.5M | S$34.9M | S$35.5M |
| Liabilities | ||||||||||||
| Accounts payable | S$1.9M | S$1.9M | S$517,579 | S$605,000 | S$605,000 | S$1.0M | S$1.0M | S$1.4M | S$1.4M | S$1.8M | S$888,000 | S$1.8M |
| Short-term debt | S$1.3M | — | S$1.6M | S$1.6M | — | S$5.5M | — | S$4.5M | — | S$6.5M | S$4.6M | S$6.5M |
| Deferred revenue | S$5.8M | — | S$6.2M | S$6.7M | — | S$5.1M | — | S$7.0M | — | S$4.3M | S$6.5M | S$4.3M |
| Total current liabilities | S$10.1M | S$10.1M | S$9.2M | S$10.1M | S$10.1M | S$12.5M | S$12.5M | S$13.8M | S$13.8M | S$13.8M | S$13.1M | S$13.8M |
| Long-term debt | S$0 | S$2.9M | S$0 | S$0 | S$7.5M | S$0 | S$3.6M | S$0 | S$3.7M | S$0 | S$3.8M | S$0 |
| Lease obligations | — | S$408,000 | — | — | S$1.3M | — | S$1.4M | — | S$1.6M | — | S$1.7M | — |
| Other long-term liabilities | S$3.2M | S$284,000 | S$7.8M | S$8.6M | S$1.1M | S$4.8M | S$1.1M | S$5.0M | S$1.3M | S$5.4M | S$1.4M | S$5.4M |
| Total liabilities | S$13.2M | S$13.2M | S$17.0M | S$18.6M | S$18.6M | S$17.3M | S$17.3M | S$18.8M | S$18.8M | S$19.2M | S$18.4M | S$19.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | S$20,994 | — | S$21,023 | S$21,000 | — | S$20,000 | — | S$20,000 | — | S$20,000 | S$20,000 | S$20,000 |
| Retained earnings (deficit) | S$4.4M | S$4.4M | S$326,365 | S$1.2M | S$1.2M | S$1.7M | S$1.7M | S$1.1M | S$1.1M | S$607,000 | S$886,000 | S$607,000 |
| Accumulated other comprehensive income | −S$75,982 | — | −S$83,093 | −S$128,000 | — | −S$130,000 | — | −S$101,000 | — | −S$32,000 | −S$84,000 | −S$32,000 |
| Total shareholders' equity | S$19.8M | S$19.8M | S$15.7M | S$16.5M | S$16.5M | S$17.3M | S$17.3M | S$16.7M | S$16.7M | S$16.3M | S$16.5M | S$16.3M |
| Key figures | ||||||||||||
| Total debt | S$4.4M | S$2.9M | S$9.3M | S$10.1M | S$7.5M | S$10.3M | S$3.6M | S$9.6M | S$3.7M | S$11.9M | S$9.8M | S$11.9M |
| Net cash (debt) | S$5.5M | S$7.1M | −S$4.2M | −S$4.3M | −S$1.7M | −S$5.4M | S$1.2M | −S$4.5M | S$1.3M | −S$5.3M | −S$4.9M | −S$5.3M |
| Working capital | S$17.4M | S$17.3M | S$14.1M | S$15.6M | S$15.6M | S$13.2M | S$13.2M | S$12.9M | S$12.9M | S$12.5M | S$12.7M | S$12.5M |
| Tangible book value | S$19.8M | S$19.8M | S$15.7M | S$16.5M | S$16.5M | S$17.3M | S$17.3M | S$16.7M | S$16.7M | S$10.6M | S$10.4M | S$10.6M |
| Shares outstanding | 5.3M | 5.3M | 5.3M | 5.2M | 5.3M | 5.0M | 5.0M | 5.0M | 5.0M | 14.1M | 5.0M | 14.1M |
| Current ratio | 2.73 | 2.72 | 2.54 | 2.55 | 2.55 | 2.06 | 2.06 | 1.94 | 1.94 | 1.91 | 1.97 | 1.91 |
| Quick ratio | 1.74 | 1.72 | 0.91 | 1.02 | 1.02 | 0.79 | 0.78 | 0.72 | 0.72 | 0.88 | 0.84 | 0.88 |
| Debt / equity | 0.22 | 0.15 | 0.59 | 0.61 | 0.45 | 0.59 | 0.21 | 0.57 | 0.22 | 0.73 | 0.59 | 0.73 |
| Equity / assets | 59.9% | 59.9% | 48.1% | 47.0% | 47.0% | 50.0% | 50.0% | 47.1% | 47.1% | 45.9% | 47.3% | 45.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in Singapore dollars as reported (latest annual report filed May 8, 2026); data from EODHD.
JCSE financial position
At the end of fiscal 2025 (December 31, 2025), JE Cleantech had total assets of S$33.0 million (down 6.1% from a year earlier), total liabilities of S$13.2 million and shareholders' equity of S$19.8 million. It held S$9.9 million in cash and short-term investments against S$4.4 million of debt, a net cash position of S$5.5 million. Its current ratio was 2.73. In the latest quarter (ended March 31, 2026) total assets were S$33.0 million and equity S$19.8 million.
Related: JCSE income statement, JCSE cash flow statement, JCSE key metrics. See the JCSE stock overview for the latest quote and news.
JCSE balance sheet FAQ
What are JE Cleantech's total assets?
JE Cleantech reported total assets of S$33.0 million at the end of fiscal 2025 (December 31, 2025), compared with S$35.1 million a year earlier.
How much debt does JE Cleantech have?
JE Cleantech had S$4.4 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.22.
How much cash does JE Cleantech have?
JE Cleantech held S$9.9 million in cash and short-term investments at the end of fiscal 2025; with S$4.4 million of debt that is net cash of S$5.5 million.
What is JE Cleantech's book value?
JE Cleantech's shareholders' equity (book value) was S$19.8 million at the end of fiscal 2025.
What is JE Cleantech's current ratio?
JE Cleantech had current assets of S$27.4 million and current liabilities of S$10.1 million, a current ratio of 2.73 (it can cover its short-term obligations).