ALTERNATIVE J.H.: 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.
ALTERNATIVE J.H.
Largest movements
- Financial fixed assets +€150,000
new in 2025: €150,000
- Tangible fixed assets -€14,812
down €14,812 (-5.2%), from €282,816 to €268,004
of which Land and buildings: -€15,137
- Cash -€11,540
down €11,540 (-43.4%), from €26,591 to €15,051
mainly Investment in fixed assets (net) (-€150,749) and Other debts (-€45,890)
- Receivables within one year +€5,160
up €5,160 (+215%), from €2,400 to €7,560
of which Trade receivables: +€3,750
- Debts after one year +€153,572
up €153,572 (+69.0%), from €222,434 to €376,006
- Other debts -€45,890
down €45,890 (-81.2%), from €56,500 to €10,610
- Current portion of long-term debt +€13,887
up €13,887 (+99.5%), from €13,951 to €27,837
- Reserves +€10,712
up €10,712 (+158%), from €6,794 to €17,506
- Financial charges +€3,913
up €3,913 (+87.5%), from €4,473 to €8,386
- Gross operating margin +€1,282
up €1,282 (+3.1%), from €41,006 to €42,288
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 | €311,812 | €440,617 | +€128,805 | +41.3% |
| Fixed assets | 21/28 | €282,816 | €418,004 | +€135,188 | +47.8% |
| Tangible fixed assets | 22/27 | €282,816 | €268,004 | -€14,812 | -5.2% |
| Land and buildings | 22 | €279,594 | €264,456 | -€15,137 | -5.4% |
| Plant, machinery and equipment | 23 | €3,222 | €3,547 | +€325 | +10.1% |
| Financial fixed assets | 28 | - | €150,000 | +€150,000 | |
| Current assets | 29/58 | €28,996 | €22,613 | -€6,383 | -22.0% |
| Amounts receivable within one year | 40/41 | €2,400 | €7,560 | +€5,160 | +215% |
| Trade receivables | 40 | €2,400 | €6,150 | +€3,750 | +156% |
| Other amounts receivable | 41 | - | €1,410 | +€1,410 | |
| Cash at bank and in hand | 54/58 | €26,591 | €15,051 | -€11,540 | -43.4% |
| Deferred charges and accrued income | 490/1 | €5 | €2 | -€3 | -65.1% |
| Total equity and liabilities | 10/49 | €311,812 | €440,617 | +€128,805 | +41.3% |
| Equity | 10/15 | €12,994 | €23,706 | +€10,712 | +82.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €6,794 | €17,506 | +€10,712 | +158% |
| Distributable reserves | 133 | €6,794 | €17,506 | +€10,712 | +158% |
| Amounts payable | 17/49 | €298,818 | €416,911 | +€118,093 | +39.5% |
| Amounts payable after more than one year | 17 | €222,434 | €376,006 | +€153,572 | +69.0% |
| Financial debts | 170/4 | €222,434 | €376,006 | +€153,572 | +69.0% |
| Amounts payable within one year | 42/48 | €75,052 | €39,561 | -€35,491 | -47.3% |
| Current portion of amounts payable after more than one year | 42 | €13,951 | €27,837 | +€13,887 | +99.5% |
| Taxes, remuneration and social security | 45 | €4,601 | €1,114 | -€3,487 | -75.8% |
| Taxes | 450/3 | €4,601 | €1,114 | -€3,487 | -75.8% |
| Other amounts payable | 47/48 | €56,500 | €10,610 | -€45,890 | -81.2% |
| Accrued charges and deferred income | 492/3 | €1,332 | €1,343 | +€11 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,554 | €15,561 | +€8 | +0.1% |
| Other operating charges | 640/8 | €2,643 | €2,682 | +€38 | +1.5% |
| Gross operating margin | 9900 | €41,006 | €42,288 | +€1,282 | +3.1% |
| Operating profit (loss) | 9901 | €22,809 | €24,045 | +€1,236 | +5.4% |
| Financial income | 75/76B | €26 | €23 | -€3 | -10.2% |
| Recurring financial income | 75 | €26 | €23 | -€3 | -10.2% |
| Financial charges | 65/66B | €4,473 | €8,386 | +€3,913 | +87.5% |
| Recurring financial charges | 65 | €4,473 | €8,386 | +€3,913 | +87.5% |
| Profit (loss) for the period before taxes | 9903 | €18,362 | €15,682 | -€2,680 | -14.6% |
| Income taxes | 67/77 | €5,309 | €4,971 | -€338 | -6.4% |
| Profit (loss) for the period | 9904 | €13,053 | €10,712 | -€2,342 | -17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,053 | €10,712 | -€2,342 | -17.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.