JETHRO HAES: 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.
JETHRO HAES
Largest movements
- Tangible fixed assets +€344,258
up €344,258 (+125.0%), from €275,441 to €619,698
of which Leasing and similar rights: +€296,995
- Receivables within one year +€267,371
up €267,371 (+135.8%), from €196,814 to €464,185
of which Trade receivables: +€258,377
- Deferred charges and accrued income +€48,378
up €48,378 (+492.2%), from €9,830 to €58,208
- Cash -€14,781
down €14,781 (-81.2%), from €18,195 to €3,414
mainly Investment in fixed assets (net) (-€458,250) and Receivables within one year (-€267,371)
- Trade debts +€294,737
up €294,737 (+131.1%), from €224,885 to €519,622
- Debts after one year +€230,901
up €230,901 (+164.0%), from €140,756 to €371,657
- Other debts +€68,002
up €68,002 (+529.5%), from €12,843 to €80,845
- Current portion of long-term debt +€62,897
up €62,897 (+199.1%), from €31,591 to €94,488
- Tax, wage and social debts -€38,215
down €38,215 (-38.7%), from €98,814 to €60,599
of which Taxes: -€19,788
- Gross operating margin +€209,842
up €209,842 (+31.7%), from €662,787 to €872,629
- Staff costs +€137,248
up €137,248 (+25.0%), from €549,718 to €686,966
- Depreciation +€66,144
up €66,144 (+142.7%), from €46,349 to €112,492
- Other operating charges +€10,078
up €10,078 (+53.2%), from €18,959 to €29,037
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 | €509,780 | €1,156,505 | +€646,725 | +126.9% |
| Fixed assets | 21/28 | €284,941 | €630,698 | +€345,758 | +121.3% |
| Tangible fixed assets | 22/27 | €275,441 | €619,698 | +€344,258 | +125.0% |
| Land and buildings | 22 | €3,129 | €2,080 | -€1,049 | -33.5% |
| Plant, machinery and equipment | 23 | €7,794 | €10,104 | +€2,310 | +29.6% |
| Furniture and vehicles | 24 | €225,549 | €271,551 | +€46,001 | +20.4% |
| Leasing and similar rights | 25 | €38,968 | €335,963 | +€296,995 | +762.2% |
| Financial fixed assets | 28 | €9,500 | €11,000 | +€1,500 | +15.8% |
| Current assets | 29/58 | €224,839 | €525,807 | +€300,968 | +133.9% |
| Amounts receivable within one year | 40/41 | €196,814 | €464,185 | +€267,371 | +135.8% |
| Trade receivables | 40 | €184,802 | €443,179 | +€258,377 | +139.8% |
| Other amounts receivable | 41 | €12,013 | €21,006 | +€8,993 | +74.9% |
| Cash at bank and in hand | 54/58 | €18,195 | €3,414 | -€14,781 | -81.2% |
| Deferred charges and accrued income | 490/1 | €9,830 | €58,208 | +€48,378 | +492.2% |
| Total equity and liabilities | 10/49 | €509,780 | €1,156,505 | +€646,725 | +126.9% |
| Equity | 10/15 | €891 | €29,294 | +€28,403 | +3188.3% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €87,578 | €87,578 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €87,578 | €87,578 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,687 | -€71,284 | +€28,403 | +28.5% |
| Amounts payable | 17/49 | €508,889 | €1,127,211 | +€618,322 | +121.5% |
| Amounts payable after more than one year | 17 | €140,756 | €371,657 | +€230,901 | +164.0% |
| Financial debts | 170/4 | €140,756 | €371,657 | +€230,901 | +164.0% |
| Amounts payable within one year | 42/48 | €368,133 | €755,554 | +€387,421 | +105.2% |
| Current portion of amounts payable after more than one year | 42 | €31,591 | €94,488 | +€62,897 | +199.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €224,885 | €519,622 | +€294,737 | +131.1% |
| Suppliers | 440/4 | €224,885 | €519,622 | +€294,737 | +131.1% |
| Taxes, remuneration and social security | 45 | €98,814 | €60,599 | -€38,215 | -38.7% |
| Taxes | 450/3 | €20,205 | €417 | -€19,788 | -97.9% |
| Remuneration and social security | 454/9 | €78,609 | €60,182 | -€18,427 | -23.4% |
| Other amounts payable | 47/48 | €12,843 | €80,845 | +€68,002 | +529.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €549,718 | €686,966 | +€137,248 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,349 | €112,492 | +€66,144 | +142.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €730 | €0 | -€730 | -100.0% |
| Other operating charges | 640/8 | €18,959 | €29,037 | +€10,078 | +53.2% |
| Non-recurring operating charges | 66A | €13,771 | €0 | -€13,771 | -100.0% |
| Gross operating margin | 9900 | €662,787 | €872,629 | +€209,842 | +31.7% |
| Operating profit (loss) | 9901 | €33,260 | €44,133 | +€10,873 | +32.7% |
| Financial income | 75/76B | €514 | €33 | -€481 | -93.6% |
| Recurring financial income | 75 | €514 | €33 | -€481 | -93.6% |
| Financial charges | 65/66B | €7,698 | €15,346 | +€7,649 | +99.4% |
| Recurring financial charges | 65 | €7,698 | €15,346 | +€7,649 | +99.4% |
| Profit (loss) for the period before taxes | 9903 | €26,077 | €28,820 | +€2,743 | +10.5% |
| Income taxes | 67/77 | - | €417 | +€417 | |
| Profit (loss) for the period | 9904 | €26,077 | €28,403 | +€2,326 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,077 | €28,403 | +€2,326 | +8.9% |
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.