HJR: 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.
HJR
Largest movements
- Cash +€33,727
up €33,727 (+99.8%), from €33,792 to €67,519
mainly Net result for the year (+€36,484) and Tax, wage and social debts (+€5,431)
- Receivables within one year +€3,019
up €3,019 (+36.2%), from €8,331 to €11,350
of which Trade receivables: +€2,922
- Reserves +€36,484
up €36,484 (+153.8%), from €23,714 to €60,198
- Other debts -€5,555
down €5,555 (-49.2%), from €11,289 to €5,735
- Tax, wage and social debts +€5,431
up €5,431 (+46.6%), from €11,662 to €17,093
- Gross operating margin +€17,664
up €17,664 (+52.7%), from €33,546 to €51,209
- Taxes +€3,753
up €3,753 (+56.2%), from €6,678 to €10,431
- Financial charges +€1,087
up €1,087 (+151.9%), from €716 to €1,803
- Depreciation +€635
up €635 (+58.9%), from €1,078 to €1,713
- Other operating charges -€581
down €581 (-42.7%), from €1,360 to €778
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 | €48,611 | €85,269 | +€36,657 | +75.4% |
| Fixed assets | 21/28 | €5,584 | €5,198 | -€387 | -6.9% |
| Tangible fixed assets | 22/27 | €5,544 | €5,158 | -€387 | -7.0% |
| Plant, machinery and equipment | 23 | - | €938 | +€938 | |
| Other tangible fixed assets | 26 | €5,544 | €4,220 | -€1,325 | -23.9% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €43,027 | €80,071 | +€37,044 | +86.1% |
| Amounts receivable within one year | 40/41 | €8,331 | €11,350 | +€3,019 | +36.2% |
| Trade receivables | 40 | €8,331 | €11,253 | +€2,922 | +35.1% |
| Other amounts receivable | 41 | - | €97 | +€97 | |
| Cash at bank and in hand | 54/58 | €33,792 | €67,519 | +€33,727 | +99.8% |
| Deferred charges and accrued income | 490/1 | €904 | €1,202 | +€298 | +33.0% |
| Total equity and liabilities | 10/49 | €48,611 | €85,269 | +€36,657 | +75.4% |
| Equity | 10/15 | €24,714 | €61,198 | +€36,484 | +147.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €23,714 | €60,198 | +€36,484 | +153.8% |
| Distributable reserves | 133 | €23,714 | €60,198 | +€36,484 | +153.8% |
| Amounts payable | 17/49 | €23,897 | €24,071 | +€174 | +0.7% |
| Amounts payable within one year | 42/48 | €23,897 | €23,596 | -€301 | -1.3% |
| Trade debts | 44 | €946 | €769 | -€177 | -18.7% |
| Suppliers | 440/4 | €946 | €769 | -€177 | -18.7% |
| Taxes, remuneration and social security | 45 | €11,662 | €17,093 | +€5,431 | +46.6% |
| Taxes | 450/3 | €11,662 | €17,093 | +€5,431 | +46.6% |
| Other amounts payable | 47/48 | €11,289 | €5,735 | -€5,555 | -49.2% |
| Accrued charges and deferred income | 492/3 | - | €475 | +€475 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,078 | €1,713 | +€635 | +58.9% |
| Other operating charges | 640/8 | €1,360 | €778 | -€581 | -42.7% |
| Gross operating margin | 9900 | €33,546 | €51,209 | +€17,664 | +52.7% |
| Operating profit (loss) | 9901 | €31,107 | €48,717 | +€17,610 | +56.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €716 | €1,803 | +€1,087 | +151.9% |
| Recurring financial charges | 65 | €716 | €1,803 | +€1,087 | +151.9% |
| Profit (loss) for the period before taxes | 9903 | €30,392 | €46,915 | +€16,523 | +54.4% |
| Income taxes | 67/77 | €6,678 | €10,431 | +€3,753 | +56.2% |
| Profit (loss) for the period | 9904 | €23,714 | €36,484 | +€12,770 | +53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,714 | €36,484 | +€12,770 | +53.8% |
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 11 October 2026 via checked.be.