J.N.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.N.H.
Largest movements
- Tangible fixed assets +€627,451
up €627,451 (+314%), from €199,899 to €827,350
- Cash -€459,036
down €459,036 (-80.0%), from €573,459 to €114,422
mainly Investment in fixed assets (net) (-€740,744) and Tax, wage and social debts (-€10,164)
- Receivables within one year -€21,981
down €21,981 (-32.0%), from €68,687 to €46,707
of which Trade receivables: -€45,356
- Debts after one year +€100,000
up €100,000 (+38.8%), from €257,823 to €357,823
- Reserves +€45,341
up €45,341 (+17.8%), from €254,431 to €299,772
- Tax, wage and social debts -€10,164
down €10,164 (-28.4%), from €35,783 to €25,619
- Depreciation +€102,187
up €102,187 (+920%), from €11,106 to €113,293
- Taxes -€54,057
down €54,057 (-71.9%), from €75,216 to €21,159
- Gross operating margin -€43,615
down €43,615 (-17.1%), from €254,990 to €211,376
- Financial income -€14,311
no longer reported in 2025 (was €14,311)
- Other operating charges +€5,219
up €5,219 (+24.0%), from €21,746 to €26,965
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 | €846,197 | €992,861 | +€146,665 | +17.3% |
| Fixed assets | 21/28 | €199,899 | €827,350 | +€627,451 | +314% |
| Tangible fixed assets | 22/27 | €199,899 | €827,350 | +€627,451 | +314% |
| Land and buildings | 22 | €199,899 | €827,350 | +€627,451 | +314% |
| Current assets | 29/58 | €646,298 | €165,511 | -€480,787 | -74.4% |
| Amounts receivable within one year | 40/41 | €68,687 | €46,707 | -€21,981 | -32.0% |
| Trade receivables | 40 | €68,529 | €23,173 | -€45,356 | -66.2% |
| Other amounts receivable | 41 | €159 | €23,534 | +€23,375 | +14,711% |
| Cash at bank and in hand | 54/58 | €573,459 | €114,422 | -€459,036 | -80.0% |
| Deferred charges and accrued income | 490/1 | €4,151 | €4,382 | +€231 | +5.6% |
| Total equity and liabilities | 10/49 | €846,197 | €992,861 | +€146,665 | +17.3% |
| Equity | 10/15 | €304,431 | €349,772 | +€45,341 | +14.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €254,431 | €299,772 | +€45,341 | +17.8% |
| Distributable reserves | 133 | €254,431 | €299,772 | +€45,341 | +17.8% |
| Amounts payable | 17/49 | €541,765 | €643,089 | +€101,324 | +18.7% |
| Amounts payable after more than one year | 17 | €257,823 | €357,823 | +€100,000 | +38.8% |
| Financial debts | 170/4 | €257,823 | €357,823 | +€100,000 | +38.8% |
| Amounts payable within one year | 42/48 | €283,942 | €281,753 | -€2,188 | -0.8% |
| Trade debts | 44 | €22,549 | €29,971 | +€7,422 | +32.9% |
| Suppliers | 440/4 | €22,549 | €29,971 | +€7,422 | +32.9% |
| Taxes, remuneration and social security | 45 | €35,783 | €25,619 | -€10,164 | -28.4% |
| Taxes | 450/3 | €35,783 | €25,619 | -€10,164 | -28.4% |
| Other amounts payable | 47/48 | €225,610 | €226,164 | +€554 | +0.2% |
| Accrued charges and deferred income | 492/3 | - | €3,512 | +€3,512 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,106 | €113,293 | +€102,187 | +920% |
| Other operating charges | 640/8 | €21,746 | €26,965 | +€5,219 | +24.0% |
| Gross operating margin | 9900 | €254,990 | €211,376 | -€43,615 | -17.1% |
| Operating profit (loss) | 9901 | €222,139 | €71,118 | -€151,021 | -68.0% |
| Financial income | 75/76B | €14,311 | - | -€14,311 | |
| Recurring financial income | 75 | €14,311 | - | -€14,311 | |
| Financial charges | 65/66B | €57 | €4,618 | +€4,561 | +7,952% |
| Recurring financial charges | 65 | €57 | €4,618 | +€4,561 | +7,952% |
| Profit (loss) for the period before taxes | 9903 | €236,393 | €66,500 | -€169,893 | -71.9% |
| Income taxes | 67/77 | €75,216 | €21,159 | -€54,057 | -71.9% |
| Profit (loss) for the period | 9904 | €161,177 | €45,341 | -€115,836 | -71.9% |
| Profit (loss) for the period to be appropriated | 9905 | €161,177 | €45,341 | -€115,836 | -71.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.