JERTHO: 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.
JERTHO
Largest movements
- Cash +€41,864
up €41,864 (+44.4%), from €94,375 to €136,239
mainly Net result for the year (+€48,621) and Other debts (+€24,961)
- Tangible fixed assets -€5,321
down €5,321 (-54.4%), from €9,776 to €4,454
- Other debts +€24,961
up €24,961 (+132%), from €18,966 to €43,927
- Reserves +€6,279
up €6,279 (+7.0%), from €89,827 to €96,106
- Tax, wage and social debts +€4,245
up €4,245 (+205%), from €2,071 to €6,316
- Current portion of long-term debt +€2,518
up €2,518 (+295%), from €852 to €3,370
- Gross operating margin +€21,662
up €21,662 (+45.3%), from €47,771 to €69,432
- Taxes +€4,665
up €4,665 (+33.8%), from €13,800 to €18,465
- Depreciation -€952
down €952 (-41.6%), from €2,288 to €1,336
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 | €121,100 | €158,560 | +€37,461 | +30.9% |
| Fixed assets | 21/28 | €9,951 | €4,629 | -€5,321 | -53.5% |
| Tangible fixed assets | 22/27 | €9,776 | €4,454 | -€5,321 | -54.4% |
| Furniture and vehicles | 24 | €9,776 | €4,454 | -€5,321 | -54.4% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €111,149 | €153,931 | +€42,782 | +38.5% |
| Amounts receivable within one year | 40/41 | €15,193 | €15,797 | +€603 | +4.0% |
| Trade receivables | 40 | €11,580 | €15,797 | +€4,217 | +36.4% |
| Other amounts receivable | 41 | €3,614 | - | -€3,614 | |
| Cash at bank and in hand | 54/58 | €94,375 | €136,239 | +€41,864 | +44.4% |
| Deferred charges and accrued income | 490/1 | €1,580 | €1,895 | +€315 | +19.9% |
| Total equity and liabilities | 10/49 | €121,100 | €158,560 | +€37,461 | +30.9% |
| Equity | 10/15 | €97,754 | €104,033 | +€6,279 | +6.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €89,827 | €96,106 | +€6,279 | +7.0% |
| Distributable reserves | 133 | €89,827 | €96,106 | +€6,279 | +7.0% |
| Profit (loss) carried forward | 14 | €1,727 | €1,727 | = | 0.0% |
| Amounts payable | 17/49 | €23,346 | €54,528 | +€31,182 | +134% |
| Amounts payable within one year | 42/48 | €23,346 | €54,528 | +€31,182 | +134% |
| Current portion of amounts payable after more than one year | 42 | €852 | €3,370 | +€2,518 | +295% |
| Trade debts | 44 | €1,457 | €914 | -€542 | -37.2% |
| Suppliers | 440/4 | €1,457 | €914 | -€542 | -37.2% |
| Taxes, remuneration and social security | 45 | €2,071 | €6,316 | +€4,245 | +205% |
| Taxes | 450/3 | €2,071 | €6,316 | +€4,245 | +205% |
| Other amounts payable | 47/48 | €18,966 | €43,927 | +€24,961 | +132% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,288 | €1,336 | -€952 | -41.6% |
| Other operating charges | 640/8 | €1,238 | €1,050 | -€187 | -15.1% |
| Gross operating margin | 9900 | €47,771 | €69,432 | +€21,662 | +45.3% |
| Operating profit (loss) | 9901 | €44,245 | €67,046 | +€22,801 | +51.5% |
| Financial income | 75/76B | €393 | €435 | +€42 | +10.6% |
| Recurring financial income | 75 | €393 | €435 | +€42 | +10.6% |
| Financial charges | 65/66B | €632 | €395 | -€237 | -37.5% |
| Recurring financial charges | 65 | €632 | €395 | -€237 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | €44,006 | €67,085 | +€23,079 | +52.4% |
| Income taxes | 67/77 | €13,800 | €18,465 | +€4,665 | +33.8% |
| Profit (loss) for the period | 9904 | €30,207 | €48,621 | +€18,414 | +61.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,207 | €48,621 | +€18,414 | +61.0% |
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 14 October 2026 via checked.be.