JST Forward: what changed
Two fiscal 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.
JST Forward
Largest movements
- Cash +€3,025
up €3,025 (+23.5%), from €12,894 to €15,918
mainly Trade debts (+€29,391) and Tax, wage and social debts (+€3,564)
- Receivables within one year -€2,228
down €2,228 (-11.4%), from €19,541 to €17,312
of which Trade receivables: -€3,952
- Tangible fixed assets -€1,060
down €1,060 (-23.8%), from €4,446 to €3,386
- Profit (loss) carried forward -€33,823
down €33,823, from €17,011 to -€16,812
- Trade debts +€29,391
up €29,391 (+197.2%), from €14,904 to €44,295
- Tax, wage and social debts +€3,564
up €3,564 (+221.5%), from €1,609 to €5,172
of which Remuneration and social security: +€3,564
- Other debts +€614
up €614, from €0 to €614
- Staff costs +€43,158
up €43,158 (+283.2%), from €15,238 to €58,396
- Gross operating margin -€10,871
down €10,871 (-29.9%), from €36,331 to €25,460
- Taxes -€5,647
no longer reported in 2025 (was €5,647)
- Financial income +€1,274
up €1,274 (+854.8%), from €149 to €1,424
- Other operating charges -€841
down €841 (-87.5%), from €961 to €120
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.
Cash bridge derived
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 | €36,880 | €36,617 | -€264 | -0.7% |
| Fixed assets | 21/28 | €4,446 | €3,386 | -€1,060 | -23.8% |
| Tangible fixed assets | 22/27 | €4,446 | €3,386 | -€1,060 | -23.8% |
| Plant, machinery and equipment | 23 | €4,446 | €3,386 | -€1,060 | -23.8% |
| Current assets | 29/58 | €32,434 | €33,230 | +€796 | +2.5% |
| Amounts receivable within one year | 40/41 | €19,541 | €17,312 | -€2,228 | -11.4% |
| Trade receivables | 40 | €13,159 | €9,207 | -€3,952 | -30.0% |
| Other amounts receivable | 41 | €6,381 | €8,105 | +€1,724 | +27.0% |
| Cash at bank and in hand | 54/58 | €12,894 | €15,918 | +€3,025 | +23.5% |
| Total equity and liabilities | 10/49 | €36,880 | €36,617 | -€264 | -0.7% |
| Equity | 10/15 | €20,011 | -€13,812 | -€33,823 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,011 | -€16,812 | -€33,823 | |
| Amounts payable | 17/49 | €16,869 | €50,429 | +€33,560 | +198.9% |
| Amounts payable within one year | 42/48 | €16,869 | €50,429 | +€33,560 | +198.9% |
| Financial debts | 43 | €357 | €348 | -€8 | -2.4% |
| Credit institutions | 430/8 | €357 | €348 | -€8 | -2.4% |
| Trade debts | 44 | €14,904 | €44,295 | +€29,391 | +197.2% |
| Suppliers | 440/4 | €14,904 | €44,295 | +€29,391 | +197.2% |
| Taxes, remuneration and social security | 45 | €1,609 | €5,172 | +€3,564 | +221.5% |
| Taxes | 450/3 | €15 | €15 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,594 | €5,157 | +€3,564 | +223.6% |
| Other amounts payable | 47/48 | €0 | €614 | +€614 | |
| Remuneration, social security and pensions | 62 | €15,238 | €58,396 | +€43,158 | +283.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €853 | €1,060 | +€207 | +24.3% |
| Other operating charges | 640/8 | €961 | €120 | -€841 | -87.5% |
| Gross operating margin | 9900 | €36,331 | €25,460 | -€10,871 | -29.9% |
| Operating profit (loss) | 9901 | €19,279 | -€34,115 | -€53,395 | |
| Financial income | 75/76B | €149 | €1,424 | +€1,274 | +854.8% |
| Recurring financial income | 75 | €149 | €1,424 | +€1,274 | +854.8% |
| Financial charges | 65/66B | €555 | €1,132 | +€577 | +104.0% |
| Recurring financial charges | 65 | €555 | €1,132 | +€577 | +104.0% |
| Profit (loss) for the period before taxes | 9903 | €18,874 | -€33,823 | -€52,697 | |
| Income taxes | 67/77 | €5,647 | - | -€5,647 | |
| Profit (loss) for the period | 9904 | €13,227 | -€33,823 | -€47,050 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,227 | -€33,823 | -€47,050 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.