JAH!: 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.
JAH!
Largest movements
- Tangible fixed assets +€261,058
up €261,058 (+39.5%), from €661,103 to €922,160
of which Land and buildings: +€214,284
- Receivables within one year -€253,796
down €253,796 (-89.6%), from €283,276 to €29,481
of which Other amounts receivable: -€206,250
- Current investments +€116,557
up €116,557 (+121.4%), from €95,976 to €212,533
- Cash -€87,613
down €87,613 (-63.6%), from €137,797 to €50,185
mainly Investment in fixed assets (net) (-€366,459) and Contributions, distributions and other (-€148,298)
- Other debts +€218,950
up €218,950 (+120.2%), from €182,121 to €401,071
- Reserves -€141,518
down €141,518 (-7.8%), from €1.8m to €1.7m
- Debts after one year -€35,000
down €35,000 (-23.9%), from €146,313 to €111,313
of which Financial debts: -€35,000
- Other operating income -€386,926
down €386,926 (-86.9%), from €445,400 to €58,474
- Taxes -€110,394
down €110,394 (-93.2%), from €118,504 to €8,109
- Depreciation +€26,840
up €26,840 (+34.2%), from €78,561 to €105,401
- Services and other goods +€23,929
up €23,929 (+21.8%), from €109,708 to €133,637
- Financial charges +€10,935
up €10,935 (+70.4%), from €15,522 to €26,458
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 | €2,231,604 | €2,269,543 | +€37,939 | +1.7% |
| Fixed assets | 21/28 | €1,672,546 | €1,933,603 | +€261,058 | +15.6% |
| Tangible fixed assets | 22/27 | €661,103 | €922,160 | +€261,058 | +39.5% |
| Land and buildings | 22 | €452,561 | €666,845 | +€214,284 | +47.3% |
| Plant, machinery and equipment | 23 | €709 | €509 | -€200 | -28.3% |
| Furniture and vehicles | 24 | €114,855 | €175,288 | +€60,434 | +52.6% |
| Leasing and similar rights | 25 | €92,979 | €79,519 | -€13,460 | -14.5% |
| Financial fixed assets | 28 | €1,011,443 | €1,011,443 | = | 0.0% |
| Affiliated companies | 280/1 | €1,011,443 | €1,011,443 | = | 0.0% |
| Participating interests | 280 | €1,011,443 | €1,011,443 | = | 0.0% |
| Current assets | 29/58 | €559,058 | €335,940 | -€223,118 | -39.9% |
| Stocks and contracts in progress | 3 | €36,773 | €36,773 | = | 0.0% |
| Stocks | 30/36 | €36,773 | €36,773 | = | 0.0% |
| Property held for sale | 35 | €36,773 | €36,773 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €283,276 | €29,481 | -€253,796 | -89.6% |
| Trade receivables | 40 | €58,067 | €10,522 | -€47,545 | -81.9% |
| Other amounts receivable | 41 | €225,209 | €18,959 | -€206,250 | -91.6% |
| Current investments | 50/53 | €95,976 | €212,533 | +€116,557 | +121.4% |
| Other investments | 51/53 | €95,976 | €212,533 | +€116,557 | +121.4% |
| Cash at bank and in hand | 54/58 | €137,797 | €50,185 | -€87,613 | -63.6% |
| Deferred charges and accrued income | 490/1 | €5,236 | €6,968 | +€1,733 | +33.1% |
| Total equity and liabilities | 10/49 | €2,231,604 | €2,269,543 | +€37,939 | +1.7% |
| Equity | 10/15 | €1,828,476 | €1,686,957 | -€141,518 | -7.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,822,276 | €1,680,757 | -€141,518 | -7.8% |
| Distributable reserves | 133 | €1,822,276 | €1,680,757 | -€141,518 | -7.8% |
| Amounts payable | 17/49 | €403,128 | €582,586 | +€179,458 | +44.5% |
| Amounts payable after more than one year | 17 | €146,313 | €111,313 | -€35,000 | -23.9% |
| Financial debts | 170/4 | €145,833 | €110,833 | -€35,000 | -24.0% |
| Credit institutions | 173 | €145,833 | €110,833 | -€35,000 | -24.0% |
| Other amounts payable | 178/9 | €480 | €480 | = | 0.0% |
| Amounts payable within one year | 42/48 | €251,065 | €461,362 | +€210,297 | +83.8% |
| Current portion of amounts payable after more than one year | 42 | €45,535 | €35,104 | -€10,431 | -22.9% |
| Trade debts | 44 | €5,265 | €1,217 | -€4,048 | -76.9% |
| Suppliers | 440/4 | €5,265 | €1,217 | -€4,048 | -76.9% |
| Taxes, remuneration and social security | 45 | €18,144 | €23,970 | +€5,826 | +32.1% |
| Taxes | 450/3 | €17,239 | €20,780 | +€3,541 | +20.5% |
| Remuneration and social security | 454/9 | €906 | €3,190 | +€2,284 | +252.3% |
| Other amounts payable | 47/48 | €182,121 | €401,071 | +€218,950 | +120.2% |
| Accrued charges and deferred income | 492/3 | €5,750 | €9,911 | +€4,161 | +72.4% |
| Operating income | 70/76A | €675,722 | €286,971 | -€388,751 | -57.5% |
| Turnover | 70 | €230,322 | €228,400 | -€1,922 | -0.8% |
| Other operating income | 74 | €445,400 | €58,474 | -€386,926 | -86.9% |
| Non-recurring operating income | 76A | - | €97 | +€97 | |
| Operating charges | 60/66A | €193,331 | €246,091 | +€52,760 | +27.3% |
| Goods for resale, raw materials and consumables | 60 | €666 | €296 | -€371 | -55.6% |
| Purchases | 600/8 | €666 | €296 | -€371 | -55.6% |
| Services and other goods | 61 | €109,708 | €133,637 | +€23,929 | +21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,561 | €105,401 | +€26,840 | +34.2% |
| Other operating charges | 640/8 | €4,395 | €6,757 | +€2,361 | +53.7% |
| Operating profit (loss) | 9901 | €482,391 | €40,880 | -€441,511 | -91.5% |
| Financial income | 75/76B | €345 | €466 | +€122 | +35.3% |
| Recurring financial income | 75 | €345 | €466 | +€122 | +35.3% |
| Income from current assets | 751 | €154 | €454 | +€299 | +193.9% |
| Other financial income | 752/9 | €191 | €13 | -€178 | -93.3% |
| Financial charges | 65/66B | €15,522 | €26,458 | +€10,935 | +70.4% |
| Recurring financial charges | 65 | €15,522 | €26,458 | +€10,935 | +70.4% |
| Debt charges | 650 | €11,178 | €15,799 | +€4,621 | +41.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €6,533 | +€6,533 | |
| Other financial charges | 652/9 | €4,344 | €4,126 | -€218 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €467,213 | €14,888 | -€452,325 | -96.8% |
| Income taxes | 67/77 | €118,504 | €8,109 | -€110,394 | -93.2% |
| Taxes | 670/3 | €118,504 | €8,109 | -€110,394 | -93.2% |
| Profit (loss) for the period | 9904 | €348,709 | €6,779 | -€341,930 | -98.1% |
| Profit (loss) for the period to be appropriated | 9905 | €348,709 | €6,779 | -€341,930 | -98.1% |
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 8 October 2026 via checked.be.