HJ: 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.
HJ
Largest movements
- Tangible fixed assets -€25,487
down €25,487 (-14.6%), from €174,749 to €149,262
of which Furniture and vehicles: -€17,098
- Cash -€14,162
down €14,162 (-69.5%), from €20,372 to €6,210
mainly Contributions, distributions and other (-€44,464) and Net result for the year (-€22,569)
- Receivables within one year -€13,575
down €13,575 (-11.9%), from €114,124 to €100,549
of which Other amounts receivable: -€19,034
- Other debts +€44,799
new in 2025: €44,799
- Reserves -€44,464
down €44,464 (-46.5%), from €95,690 to €51,227
of which Distributable reserves: -€44,464
- Profit (loss) carried forward -€22,569
down €22,569 (-19.7%), from €114,509 to €91,940
- Tax, wage and social debts -€17,557
down €17,557 (-79.6%), from €22,063 to €4,506
of which Taxes: -€18,952
- Trade debts -€10,048
down €10,048 (-8.5%), from €117,662 to €107,614
- Depreciation +€14,382
up €14,382 (+129.5%), from €11,105 to €25,487
- Staff costs -€11,364
down €11,364 (-17.1%), from €66,285 to €54,922
- Gross operating margin -€9,237
down €9,237 (-12.0%), from €76,729 to €67,492
- Financial charges +€2,359
up €2,359, from -€154 to €2,205
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 | €401,296 | €350,546 | -€50,750 | -12.6% |
| Fixed assets | 21/28 | €174,749 | €149,262 | -€25,487 | -14.6% |
| Tangible fixed assets | 22/27 | €174,749 | €149,262 | -€25,487 | -14.6% |
| Land and buildings | 22 | €89,503 | €81,837 | -€7,666 | -8.6% |
| Plant, machinery and equipment | 23 | €3,087 | €2,364 | -€723 | -23.4% |
| Furniture and vehicles | 24 | €82,158 | €65,061 | -€17,098 | -20.8% |
| Current assets | 29/58 | €226,547 | €201,284 | -€25,263 | -11.2% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €17,050 | €17,050 | = | 0.0% |
| Stocks | 30/36 | €17,050 | €17,050 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €114,124 | €100,549 | -€13,575 | -11.9% |
| Trade receivables | 40 | €77,085 | €82,543 | +€5,459 | +7.1% |
| Other amounts receivable | 41 | €37,039 | €18,006 | -€19,034 | -51.4% |
| Cash at bank and in hand | 54/58 | €20,372 | €6,210 | -€14,162 | -69.5% |
| Deferred charges and accrued income | 490/1 | - | €2,474 | +€2,474 | |
| Total equity and liabilities | 10/49 | €401,296 | €350,546 | -€50,750 | -12.6% |
| Equity | 10/15 | €228,799 | €161,767 | -€67,033 | -29.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €95,690 | €51,227 | -€44,464 | -46.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €93,830 | €49,367 | -€44,464 | -47.4% |
| Profit (loss) carried forward | 14 | €114,509 | €91,940 | -€22,569 | -19.7% |
| Amounts payable | 17/49 | €172,496 | €188,779 | +€16,283 | +9.4% |
| Amounts payable after more than one year | 17 | €18,958 | €11,699 | -€7,259 | -38.3% |
| Financial debts | 170/4 | €18,958 | €11,699 | -€7,259 | -38.3% |
| Amounts payable within one year | 42/48 | €153,538 | €177,079 | +€23,542 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €13,813 | €17,875 | +€4,062 | +29.4% |
| Trade debts | 44 | €117,662 | €107,614 | -€10,048 | -8.5% |
| Suppliers | 440/4 | €117,662 | €107,614 | -€10,048 | -8.5% |
| Advances received on contracts in progress | 46 | - | €2,286 | +€2,286 | |
| Taxes, remuneration and social security | 45 | €22,063 | €4,506 | -€17,557 | -79.6% |
| Taxes | 450/3 | €18,952 | - | -€18,952 | |
| Remuneration and social security | 454/9 | €3,111 | €4,506 | +€1,395 | +44.8% |
| Other amounts payable | 47/48 | - | €44,799 | +€44,799 | |
| Non-recurring operating income | 76A | €9,088 | - | -€9,088 | |
| Remuneration, social security and pensions | 62 | €66,285 | €54,922 | -€11,364 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,105 | €25,487 | +€14,382 | +129.5% |
| Other operating charges | 640/8 | €7,354 | €7,519 | +€165 | +2.2% |
| Gross operating margin | 9900 | €76,729 | €67,492 | -€9,237 | -12.0% |
| Operating profit (loss) | 9901 | -€8,015 | -€20,435 | -€12,421 | -155.0% |
| Financial income | 75/76B | - | €71 | +€71 | |
| Recurring financial income | 75 | - | €71 | +€71 | |
| Financial charges | 65/66B | -€154 | €2,205 | +€2,359 | |
| Recurring financial charges | 65 | -€154 | €2,205 | +€2,359 | |
| Profit (loss) for the period before taxes | 9903 | -€7,861 | -€22,569 | -€14,708 | -187.1% |
| Profit (loss) for the period | 9904 | -€7,861 | -€22,569 | -€14,708 | -187.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,861 | -€22,569 | -€14,708 | -187.1% |
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 6 October 2026 via checked.be.