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.
J&H
Largest movements
- Receivables within one year -€58,821
down €58,821 (-60.9%), from €96,644 to €37,823
of which Trade receivables: -€74,674
- Cash +€57,898
up €57,898 (+391%), from €14,815 to €72,713
mainly Receivables within one year (+€58,821) and Net result for the year (+€52,209)
- Deferred charges and accrued income +€13,924
up €13,924 (+963%), from €1,446 to €15,370
- Reserves +€52,209
up €52,209 (+102%), from €51,182 to €103,391
of which Distributable reserves: +€52,209
- Other debts -€36,951
no longer reported in 2025 (was €36,951)
- Tax, wage and social debts -€4,469
down €4,469 (-46.1%), from €9,690 to €5,221
- Gross operating margin -€28,758
down €28,758 (-25.8%), from €111,256 to €82,498
- Taxes +€3,598
up €3,598 (+14.6%), from €24,646 to €28,243
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 | €117,482 | €129,296 | +€11,814 | +10.1% |
| Fixed assets | 21/28 | €4,577 | €3,389 | -€1,187 | -25.9% |
| Tangible fixed assets | 22/27 | €4,577 | €3,389 | -€1,187 | -25.9% |
| Plant, machinery and equipment | 23 | €4,577 | €3,389 | -€1,187 | -25.9% |
| Current assets | 29/58 | €112,905 | €125,907 | +€13,001 | +11.5% |
| Amounts receivable within one year | 40/41 | €96,644 | €37,823 | -€58,821 | -60.9% |
| Trade receivables | 40 | €81,644 | €6,970 | -€74,674 | -91.5% |
| Other amounts receivable | 41 | €15,000 | €30,853 | +€15,853 | +106% |
| Cash at bank and in hand | 54/58 | €14,815 | €72,713 | +€57,898 | +391% |
| Deferred charges and accrued income | 490/1 | €1,446 | €15,370 | +€13,924 | +963% |
| Total equity and liabilities | 10/49 | €117,482 | €129,296 | +€11,814 | +10.1% |
| Equity | 10/15 | €69,883 | €122,092 | +€52,209 | +74.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51,182 | €103,391 | +€52,209 | +102% |
| Tax-exempt reserves | 132 | €3,282 | €3,282 | = | 0.0% |
| Distributable reserves | 133 | €47,900 | €100,109 | +€52,209 | +109% |
| Profit (loss) carried forward | 14 | €100 | €100 | = | 0.0% |
| Amounts payable | 17/49 | €47,599 | €7,204 | -€40,395 | -84.9% |
| Amounts payable within one year | 42/48 | €47,599 | €7,204 | -€40,395 | -84.9% |
| Trade debts | 44 | €958 | €1,983 | +€1,025 | +107% |
| Suppliers | 440/4 | €958 | €1,983 | +€1,025 | +107% |
| Taxes, remuneration and social security | 45 | €9,690 | €5,221 | -€4,469 | -46.1% |
| Taxes | 450/3 | €9,690 | €5,221 | -€4,469 | -46.1% |
| Other amounts payable | 47/48 | €36,951 | - | -€36,951 | |
| Non-recurring operating income | 76A | - | €3,500 | +€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €770 | €1,187 | +€417 | +54.2% |
| Other operating charges | 640/8 | €592 | €610 | +€18 | +3.0% |
| Gross operating margin | 9900 | €111,256 | €82,498 | -€28,758 | -25.8% |
| Operating profit (loss) | 9901 | €109,894 | €80,701 | -€29,193 | -26.6% |
| Financial income | 75/76B | €55 | €0 | -€54 | -99.9% |
| Recurring financial income | 75 | €55 | €0 | -€54 | -99.9% |
| Financial charges | 65/66B | €241 | €249 | +€8 | +3.2% |
| Recurring financial charges | 65 | €241 | €249 | +€8 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €109,708 | €80,452 | -€29,255 | -26.7% |
| Income taxes | 67/77 | €24,646 | €28,243 | +€3,598 | +14.6% |
| Profit (loss) for the period | 9904 | €85,062 | €52,209 | -€32,853 | -38.6% |
| Profit (loss) for the period to be appropriated | 9905 | €85,062 | €52,209 | -€32,853 | -38.6% |
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 20 October 2026 via checked.be.