H & J: 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.
H & J
Largest movements
- Cash +€17,015
up €17,015 (+31.2%), from €54,509 to €71,524
mainly Net result for the year (+€26,147) and Depreciation (+€10,283)
- Reserves +€26,147
up €26,147 (+4.5%), from €586,292 to €612,439
- Debts after one year -€20,690
down €20,690 (-19.7%), from €105,172 to €84,482
- Gross operating margin +€2,162
up €2,162 (+3.4%), from €62,678 to €64,840
- Taxes +€702
up €702 (+8.8%), from €8,014 to €8,716
- Financial charges -€674
down €674 (-3.5%), from €19,434 to €18,760
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 | €1,419,861 | €1,426,593 | +€6,732 | +0.5% |
| Fixed assets | 21/28 | €1,365,352 | €1,355,069 | -€10,283 | -0.8% |
| Tangible fixed assets | 22/27 | €370,188 | €359,905 | -€10,283 | -2.8% |
| Land and buildings | 22 | €370,188 | €359,905 | -€10,283 | -2.8% |
| Financial fixed assets | 28 | €995,164 | €995,164 | = | 0.0% |
| Current assets | 29/58 | €54,509 | €71,524 | +€17,015 | +31.2% |
| Cash at bank and in hand | 54/58 | €54,509 | €71,524 | +€17,015 | +31.2% |
| Total equity and liabilities | 10/49 | €1,419,861 | €1,426,593 | +€6,732 | +0.5% |
| Equity | 10/15 | €706,387 | €732,534 | +€26,147 | +3.7% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €586,292 | €612,439 | +€26,147 | +4.5% |
| Distributable reserves | 133 | €586,292 | €612,439 | +€26,147 | +4.5% |
| Profit (loss) carried forward | 14 | €95 | €95 | = | 0.0% |
| Amounts payable | 17/49 | €713,474 | €694,059 | -€19,415 | -2.7% |
| Amounts payable after more than one year | 17 | €105,172 | €84,482 | -€20,690 | -19.7% |
| Financial debts | 170/4 | €105,172 | €84,482 | -€20,690 | -19.7% |
| Amounts payable within one year | 42/48 | €599,949 | €601,442 | +€1,493 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €20,690 | €20,690 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,819 | €1,080 | -€739 | -40.6% |
| Taxes | 450/3 | €1,819 | €1,080 | -€739 | -40.6% |
| Other amounts payable | 47/48 | €577,441 | €579,673 | +€2,232 | +0.4% |
| Accrued charges and deferred income | 492/3 | €8,353 | €8,135 | -€219 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,283 | €10,283 | = | 0.0% |
| Other operating charges | 640/8 | €1,155 | €1,185 | +€31 | +2.7% |
| Gross operating margin | 9900 | €62,678 | €64,840 | +€2,162 | +3.4% |
| Operating profit (loss) | 9901 | €51,241 | €53,372 | +€2,131 | +4.2% |
| Financial income | 75/76B | €249 | €250 | +€1 | +0.5% |
| Recurring financial income | 75 | €249 | €250 | +€1 | +0.5% |
| Financial charges | 65/66B | €19,434 | €18,760 | -€674 | -3.5% |
| Recurring financial charges | 65 | €19,434 | €18,760 | -€674 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €32,056 | €34,862 | +€2,807 | +8.8% |
| Income taxes | 67/77 | €8,014 | €8,716 | +€702 | +8.8% |
| Profit (loss) for the period | 9904 | €24,042 | €26,147 | +€2,105 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,042 | €26,147 | +€2,105 | +8.8% |
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 8 October 2026 via checked.be.