J.H. Barnato: 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. Barnato
Largest movements
- Receivables within one year +€88,641
up €88,641 (+85.8%), from €103,295 to €191,936
of which Other amounts receivable: +€70,262
- Cash -€76,044
down €76,044 (-72.1%), from €105,469 to €29,424
mainly Receivables within one year (-€88,641) and Trade debts (-€2,034)
- Tax, wage and social debts +€11,804
up €11,804 (+294%), from €4,019 to €15,824
- Gross operating margin -€12,123
down €12,123 (-69.8%), from €17,372 to €5,249
- Taxes -€2,752
down €2,752 (-68.5%), from €4,019 to €1,267
- Depreciation -€1,284
down €1,284 (-91.8%), from €1,399 to €115
- Other operating charges +€394
up €394 (+35.7%), from €1,103 to €1,497
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 | €216,323 | €228,342 | +€12,019 | +5.6% |
| Fixed assets | 21/28 | €115 | €0 | -€115 | -100% |
| Tangible fixed assets | 22/27 | €115 | €0 | -€115 | -100% |
| Furniture and vehicles | 24 | €115 | €0 | -€115 | -100% |
| Current assets | 29/58 | €216,208 | €228,342 | +€12,134 | +5.6% |
| Amounts receivable within one year | 40/41 | €103,295 | €191,936 | +€88,641 | +85.8% |
| Trade receivables | 40 | €100,786 | €119,164 | +€18,379 | +18.2% |
| Other amounts receivable | 41 | €2,509 | €72,772 | +€70,262 | +2,800% |
| Current investments | 50/53 | €1,350 | €1,350 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €105,469 | €29,424 | -€76,044 | -72.1% |
| Deferred charges and accrued income | 490/1 | €6,094 | €5,632 | -€462 | -7.6% |
| Total equity and liabilities | 10/49 | €216,323 | €228,342 | +€12,019 | +5.6% |
| Equity | 10/15 | €206,218 | €208,420 | +€2,202 | +1.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €196,218 | €198,420 | +€2,202 | +1.1% |
| Distributable reserves | 133 | €196,218 | €198,420 | +€2,202 | +1.1% |
| Amounts payable | 17/49 | €10,105 | €19,922 | +€9,817 | +97.1% |
| Amounts payable within one year | 42/48 | €10,105 | €19,876 | +€9,771 | +96.7% |
| Trade debts | 44 | €6,086 | €4,052 | -€2,034 | -33.4% |
| Suppliers | 440/4 | €6,086 | €4,052 | -€2,034 | -33.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €4,019 | €15,824 | +€11,804 | +294% |
| Taxes | 450/3 | €4,019 | €15,824 | +€11,804 | +294% |
| Accrued charges and deferred income | 492/3 | €0 | €46 | +€46 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,399 | €115 | -€1,284 | -91.8% |
| Other operating charges | 640/8 | €1,103 | €1,497 | +€394 | +35.7% |
| Gross operating margin | 9900 | €17,372 | €5,249 | -€12,123 | -69.8% |
| Operating profit (loss) | 9901 | €14,870 | €3,637 | -€11,233 | -75.5% |
| Financial charges | 65/66B | €167 | €167 | -€0 | 0.0% |
| Recurring financial charges | 65 | €167 | €167 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €14,703 | €3,470 | -€11,233 | -76.4% |
| Income taxes | 67/77 | €4,019 | €1,267 | -€2,752 | -68.5% |
| Profit (loss) for the period | 9904 | €10,684 | €2,202 | -€8,481 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,684 | €2,202 | -€8,481 | -79.4% |
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 23 October 2026 via checked.be.