JFD forage: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
JFD forage
Largest movements
- Tangible fixed assets +€530,853
up €530,853 (+102%), from €519,623 to €1.1m
of which Plant, machinery and equipment: +€550,317
- Receivables within one year +€81,364
up €81,364 (+143%), from €56,727 to €138,091
of which Trade receivables: +€90,675
- Cash +€58,506
up €58,506 (+67.1%), from €87,251 to €145,758
mainly Debts after one year (+€391,438) and Net result for the year (+€155,569)
- Debts after one year +€391,438
up €391,438 (+92.1%), from €425,225 to €816,663
- Profit (loss) carried forward +€154,736
up €154,736 (+134%), from €115,190 to €269,927
- Current portion of long-term debt +€75,736
up €75,736 (+92.5%), from €81,887 to €157,624
- Tax, wage and social debts +€19,046
up €19,046 (+774%), from €2,462 to €21,508
of which Taxes: +€18,352
- Investment grants +€17,261
new in 2025: €17,261
- Gross operating margin +€101,126
up €101,126 (+34.2%), from €295,929 to €397,056
- Staff costs +€41,242
up €41,242 (+93.7%), from €44,000 to €85,243
- Depreciation +€32,801
up €32,801 (+35.2%), from €93,095 to €125,895
- Financial income +€13,189
new in 2025: €13,189
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €690,624 | €1,350,994 | +€660,370 | +95.6% |
| Fixed assets | 21/28 | €519,828 | €1,050,681 | +€530,853 | +102% |
| Tangible fixed assets | 22/27 | €519,623 | €1,050,476 | +€530,853 | +102% |
| Plant, machinery and equipment | 23 | €453,975 | €1,004,292 | +€550,317 | +121% |
| Furniture and vehicles | 24 | €65,648 | €46,184 | -€19,464 | -29.6% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €170,796 | €300,313 | +€129,517 | +75.8% |
| Stocks and contracts in progress | 3 | €18,910 | €15,944 | -€2,966 | -15.7% |
| Stocks | 30/36 | €18,910 | €15,944 | -€2,966 | -15.7% |
| Amounts receivable within one year | 40/41 | €56,727 | €138,091 | +€81,364 | +143% |
| Trade receivables | 40 | €46,651 | €137,326 | +€90,675 | +194% |
| Other amounts receivable | 41 | €10,076 | €765 | -€9,311 | -92.4% |
| Cash at bank and in hand | 54/58 | €87,251 | €145,758 | +€58,506 | +67.1% |
| Deferred charges and accrued income | 490/1 | €7,907 | €521 | -€7,386 | -93.4% |
| Total equity and liabilities | 10/49 | €690,624 | €1,350,994 | +€660,370 | +95.6% |
| Equity | 10/15 | €139,260 | €311,257 | +€171,997 | +124% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €4,070 | €4,070 | = | 0.0% |
| Distributable reserves | 133 | €4,070 | €4,070 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,190 | €269,927 | +€154,736 | +134% |
| Investment grants | 15 | - | €17,261 | +€17,261 | |
| Amounts payable | 17/49 | €551,363 | €1,039,736 | +€488,373 | +88.6% |
| Amounts payable after more than one year | 17 | €425,225 | €816,663 | +€391,438 | +92.1% |
| Financial debts | 170/4 | €425,225 | €816,663 | +€391,438 | +92.1% |
| Amounts payable within one year | 42/48 | €126,138 | €223,074 | +€96,936 | +76.8% |
| Current portion of amounts payable after more than one year | 42 | €81,887 | €157,624 | +€75,736 | +92.5% |
| Trade debts | 44 | €10,267 | €11,668 | +€1,401 | +13.6% |
| Suppliers | 440/4 | €10,267 | €11,668 | +€1,401 | +13.6% |
| Taxes, remuneration and social security | 45 | €2,462 | €21,508 | +€19,046 | +774% |
| Taxes | 450/3 | €252 | €18,605 | +€18,352 | +7,271% |
| Remuneration and social security | 454/9 | €2,210 | €2,903 | +€693 | +31.4% |
| Other amounts payable | 47/48 | €31,522 | €32,274 | +€752 | +2.4% |
| Remuneration, social security and pensions | 62 | €44,000 | €85,243 | +€41,242 | +93.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,095 | €125,895 | +€32,801 | +35.2% |
| Other operating charges | 640/8 | €948 | €1,603 | +€655 | +69.1% |
| Non-recurring operating charges | 66A | €153 | €1,027 | +€874 | +571% |
| Gross operating margin | 9900 | €295,929 | €397,056 | +€101,126 | +34.2% |
| Operating profit (loss) | 9901 | €157,733 | €183,288 | +€25,555 | +16.2% |
| Financial income | 75/76B | - | €13,189 | +€13,189 | |
| Recurring financial income | 75 | - | €13,189 | +€13,189 | |
| Financial charges | 65/66B | €21,923 | €22,565 | +€643 | +2.9% |
| Recurring financial charges | 65 | €21,923 | €22,565 | +€643 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €135,810 | €173,912 | +€38,102 | +28.1% |
| Income taxes | 67/77 | €19,820 | €18,342 | -€1,478 | -7.5% |
| Profit (loss) for the period | 9904 | €115,990 | €155,569 | +€39,579 | +34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €115,990 | €155,569 | +€39,579 | +34.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.