JFG D'HONDT: what changed
What changed
JFG D'HONDT
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €3.1m-€995,033
Equity
€20.3m
2024 · €18.2m+€2.1m
Cash
€3.1m
2024 · €5.1m-€2.0m
Balance sheet total
€23.1m
2024 · €21.5m+€1.6m
Largest movements
Assets
- Receivables within one year +€4.1m
up €4.1m (+35.0%), from €11.6m to €15.7m
of which Other amounts receivable: +€4.0m
- Cash -€2.0m
down €2.0m (-39.5%), from €5.1m to €3.1m
mainly Receivables within one year (-€4.1m) and Tax, wage and social debts (-€264,086)
- Current investments -€500,000
down €500,000 (-100%), from €500,000 to €0
Equity and liabilities
- Reserves +€2.1m
up €2.1m (+11.7%), from €18.2m to €20.3m
of which Distributable reserves: +€2.3m
- Tax, wage and social debts -€264,086
down €264,086 (-69.4%), from €380,646 to €116,560
of which Taxes: -€277,525
Income statement
- Turnover -€1.3m
down €1.3m (-26.5%), from €4.9m to €3.6m
- Taxes -€283,915
down €283,915 (-28.8%), from €985,866 to €701,951
- Staff costs +€88,848
up €88,848 (+40.7%), from €218,040 to €306,887
- Financial income +€52,914
up €52,914 (+10.0%), from €527,428 to €580,342
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€3.1m
Turnover
-€1.3m
Other operating income
+€3,175
Services and other goods
+€28,737
Staff costs
-€88,848
Other operating charges
+€236
Other operating items
-€2,688
Financial income
+€52,914
Financial charges
+€26,930
Taxes
+€283,915
Result 2025
€2.1m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€2.5m
Investment
+€500,000
Financing
-€50,717
Cash 2024
€5.1m
From operations (derived)
-€2.5m
Net result for the year
+€2.1m
Depreciation
+€10,966
Receivables within one year
-€4.1m
Deferred charges and accrued income
-€55,211
Trade debts
-€6,053
Tax, wage and social debts
-€264,086
Other debts
-€202,386
Accrued charges and deferred income
-€16,761
Investment (derived)
+€500,000
Current investments
+€500,000
Financing
-€50,717
Debts after one year
+€75,506
Current portion of long-term debt
+€397
Short-term financial debts
-€126,619
Cash 2025
€3.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,503,817 | €23,089,140 | +€1.6m | +7.4% |
| Fixed assets | 21/28 | €3,825,323 | €3,814,357 | -€10,966 | -0.3% |
| Tangible fixed assets | 22/27 | €236,422 | €225,456 | -€10,966 | -4.6% |
| Land and buildings | 22 | €236,422 | €225,456 | -€10,966 | -4.6% |
| Financial fixed assets | 28 | €3,588,901 | €3,588,901 | = | 0.0% |
| Affiliated companies | 280/1 | €3,588,901 | €3,588,901 | = | 0.0% |
| Participating interests | 280 | €3,588,901 | €3,588,901 | = | 0.0% |
| Current assets | 29/58 | €17,678,494 | €19,274,783 | +€1.6m | +9.0% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €11,597,570 | €15,651,661 | +€4.1m | +35.0% |
| Trade receivables | 40 | €1,256 | €91,288 | +€90,032 | +7,171% |
| Other amounts receivable | 41 | €11,596,314 | €15,560,373 | +€4.0m | +34.2% |
| Current investments | 50/53 | €500,000 | €0 | -€500,000 | -100% |
| Other investments | 51/53 | €500,000 | €0 | -€500,000 | -100% |
| Cash at bank and in hand | 54/58 | €5,094,203 | €3,081,190 | -€2.0m | -39.5% |
| Deferred charges and accrued income | 490/1 | €486,721 | €541,932 | +€55,211 | +11.3% |
| Total equity and liabilities | 10/49 | €21,503,817 | €23,089,140 | +€1.6m | +7.4% |
| Equity | 10/15 | €18,185,957 | €20,311,283 | +€2.1m | +11.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,167,357 | €20,292,683 | +€2.1m | +11.7% |
| Tax-exempt reserves | 132 | €1,684,000 | €1,473,500 | -€210,500 | -12.5% |
| Distributable reserves | 133 | €16,483,357 | €18,819,183 | +€2.3m | +14.2% |
| Amounts payable | 17/49 | €3,317,860 | €2,777,857 | -€540,003 | -16.3% |
| Amounts payable after more than one year | 17 | €2,221,574 | €2,297,080 | +€75,506 | +3.4% |
| Financial debts | 170/4 | €2,221,574 | €2,297,080 | +€75,506 | +3.4% |
| Credit institutions | 173 | €41,305 | €8,311 | -€32,994 | -79.9% |
| Other loans | 174 | €2,180,269 | €2,288,769 | +€108,500 | +5.0% |
| Amounts payable within one year | 42/48 | €765,265 | €166,518 | -€598,747 | -78.2% |
| Current portion of amounts payable after more than one year | 42 | €32,598 | €32,994 | +€397 | +1.2% |
| Financial debts | 43 | €126,619 | €0 | -€126,619 | -100% |
| Credit institutions | 430/8 | €126,619 | €0 | -€126,619 | -100% |
| Trade debts | 44 | €11,266 | €5,214 | -€6,053 | -53.7% |
| Suppliers | 440/4 | €11,266 | €5,214 | -€6,053 | -53.7% |
| Taxes, remuneration and social security | 45 | €380,646 | €116,560 | -€264,086 | -69.4% |
| Taxes | 450/3 | €335,543 | €58,018 | -€277,525 | -82.7% |
| Remuneration and social security | 454/9 | €45,103 | €58,542 | +€13,439 | +29.8% |
| Other amounts payable | 47/48 | €214,136 | €11,750 | -€202,386 | -94.5% |
| Accrued charges and deferred income | 492/3 | €331,020 | €314,259 | -€16,761 | -5.1% |
| Operating income | 70/76A | €4,902,418 | €3,603,500 | -€1.3m | -26.5% |
| Turnover | 70 | €4,894,538 | €3,595,133 | -€1.3m | -26.5% |
| Other operating income | 74 | €5,192 | €8,367 | +€3,175 | +61.2% |
| Non-recurring operating income | 76A | €2,688 | €0 | -€2,688 | -100% |
| Operating charges | 60/66A | €1,138,679 | €1,198,553 | +€59,874 | +5.3% |
| Services and other goods | 61 | €907,158 | €878,420 | -€28,737 | -3.2% |
| Remuneration, social security and pensions | 62 | €218,040 | €306,887 | +€88,848 | +40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,966 | €10,966 | = | 0.0% |
| Other operating charges | 640/8 | €2,515 | €2,279 | -€236 | -9.4% |
| Operating profit (loss) | 9901 | €3,763,739 | €2,404,947 | -€1.4m | -36.1% |
| Financial income | 75/76B | €527,428 | €580,342 | +€52,914 | +10.0% |
| Recurring financial income | 75 | €527,428 | €580,342 | +€52,914 | +10.0% |
| Income from current assets | 751 | €527,428 | €555,882 | +€28,454 | +5.4% |
| Other financial income | 752/9 | - | €24,460 | +€24,460 | |
| Financial charges | 65/66B | €184,943 | €158,012 | -€26,930 | -14.6% |
| Recurring financial charges | 65 | €184,943 | €158,012 | -€26,930 | -14.6% |
| Debt charges | 650 | €183,588 | €156,752 | -€26,836 | -14.6% |
| Other financial charges | 652/9 | €1,355 | €1,260 | -€95 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €4,106,225 | €2,827,276 | -€1.3m | -31.1% |
| Income taxes | 67/77 | €985,866 | €701,951 | -€283,915 | -28.8% |
| Taxes | 670/3 | €985,866 | €701,951 | -€283,915 | -28.8% |
| Profit (loss) for the period | 9904 | €3,120,358 | €2,125,325 | -€995,033 | -31.9% |
| Transfer from tax-exempt reserves | 789 | - | €842,000 | +€842,000 | |
| Transfer to tax-exempt reserves | 689 | €421,000 | €631,500 | +€210,500 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,699,358 | €2,335,825 | -€363,533 | -13.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.