JST Management: 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.
JST Management
Largest movements
- Receivables within one year +€45,576
up €45,576 (+39.8%), from €114,574 to €160,151
of which Trade receivables: +€47,302
- Debts after one year +€205,000
up €205,000 (+8.5%), from €2.4m to €2.6m
- Profit (loss) carried forward -€151,339
down €151,339 (-80.2%), from -€188,819 to -€340,157
- Other debts -€58,424
down €58,424 (-89.9%), from €64,997 to €6,573
- Current portion of long-term debt +€50,000
new in 2025: €50,000
- Depreciation -€153,446
down €153,446 (-69.3%), from €221,577 to €68,131
- Financial charges +€10,108
up €10,108 (+92.4%), from €10,937 to €21,044
- Gross operating margin +€2,277
up €2,277 (+3.5%), from -€64,434 to -€62,156
- Financial income +€807
up €807 (+13.0%), from €6,214 to €7,021
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 | €2,342,115 | €2,401,251 | +€59,135 | +2.5% |
| Fixed assets | 21/28 | €2,213,873 | €2,225,118 | +€11,245 | +0.5% |
| Tangible fixed assets | 22/27 | €2,213,873 | €2,225,118 | +€11,245 | +0.5% |
| Land and buildings | 22 | €2,077,487 | €2,033,438 | -€44,049 | -2.1% |
| Plant, machinery and equipment | 23 | €112,468 | €158,898 | +€46,430 | +41.3% |
| Furniture and vehicles | 24 | €23,918 | €32,782 | +€8,864 | +37.1% |
| Current assets | 29/58 | €128,242 | €176,133 | +€47,891 | +37.3% |
| Stocks and contracts in progress | 3 | €2,390 | €0 | -€2,390 | -100% |
| Stocks | 30/36 | €2,390 | €0 | -€2,390 | -100% |
| Amounts receivable within one year | 40/41 | €114,574 | €160,151 | +€45,576 | +39.8% |
| Trade receivables | 40 | €373 | €47,675 | +€47,302 | +12,682% |
| Other amounts receivable | 41 | €114,201 | €112,475 | -€1,726 | -1.5% |
| Cash at bank and in hand | 54/58 | €508 | €7,175 | +€6,667 | +1,313% |
| Deferred charges and accrued income | 490/1 | €10,770 | €8,807 | -€1,963 | -18.2% |
| Total equity and liabilities | 10/49 | €2,342,115 | €2,401,251 | +€59,135 | +2.5% |
| Equity | 10/15 | -€127,068 | -€278,406 | -€151,339 | -119% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €59,251 | €59,251 | = | 0.0% |
| Distributable reserves | 133 | €59,251 | €59,251 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€188,819 | -€340,157 | -€151,339 | -80.2% |
| Amounts payable | 17/49 | €2,469,183 | €2,679,657 | +€210,474 | +8.5% |
| Amounts payable after more than one year | 17 | €2,400,000 | €2,605,000 | +€205,000 | +8.5% |
| Financial debts | 170/4 | €2,400,000 | €2,605,000 | +€205,000 | +8.5% |
| Amounts payable within one year | 42/48 | €69,183 | €74,657 | +€5,474 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €1,974 | €16,009 | +€14,035 | +711% |
| Suppliers | 440/4 | €1,974 | €16,009 | +€14,035 | +711% |
| Taxes, remuneration and social security | 45 | €2,212 | €2,075 | -€137 | -6.2% |
| Taxes | 450/3 | €2,212 | €2,075 | -€137 | -6.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €64,997 | €6,573 | -€58,424 | -89.9% |
| Non-recurring operating income | 76A | - | €77 | +€77 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €221,577 | €68,131 | -€153,446 | -69.3% |
| Other operating charges | 640/8 | €5,362 | €4,912 | -€450 | -8.4% |
| Gross operating margin | 9900 | -€64,434 | -€62,156 | +€2,277 | +3.5% |
| Operating profit (loss) | 9901 | -€291,373 | -€135,199 | +€156,174 | +53.6% |
| Financial income | 75/76B | €6,214 | €7,021 | +€807 | +13.0% |
| Recurring financial income | 75 | €6,214 | €7,021 | +€807 | +13.0% |
| Financial charges | 65/66B | €10,937 | €21,044 | +€10,108 | +92.4% |
| Recurring financial charges | 65 | €10,937 | €21,044 | +€10,108 | +92.4% |
| Profit (loss) for the period before taxes | 9903 | -€296,095 | -€149,222 | +€146,873 | +49.6% |
| Income taxes | 67/77 | €2,254 | €2,116 | -€138 | -6.1% |
| Profit (loss) for the period | 9904 | -€298,350 | -€151,339 | +€147,011 | +49.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€298,350 | -€151,339 | +€147,011 | +49.3% |
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 27 October 2026 via checked.be.