JH MANAGEMENT: 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.
JH MANAGEMENT
Largest movements
- Receivables within one year +€42,248
up €42,248 (+319.3%), from €13,233 to €55,481
of which Other amounts receivable: +€27,851
- Tangible fixed assets -€12,189
down €12,189 (-3.1%), from €389,093 to €376,904
of which Land and buildings: -€9,725
- Cash +€9,751
up €9,751 (+20.9%), from €46,608 to €56,358
mainly Net result for the year (+€48,881) and Tax, wage and social debts (+€18,754)
- Profit (loss) carried forward +€48,881
up €48,881 (+41389.8%), from €118 to €48,999
- Tax, wage and social debts +€18,754
up €18,754 (+80.1%), from €23,400 to €42,154
- Debts after one year -€14,039
down €14,039 (-3.9%), from €361,537 to €347,498
- Other debts -€6,206
down €6,206 (-100.0%), from €6,206 to €0
- Trade debts -€5,961
down €5,961 (-88.5%), from €6,736 to €775
- Depreciation -€57,598
down €57,598 (-82.5%), from €69,787 to €12,189
- Gross operating margin -€52,269
down €52,269 (-34.6%), from €150,974 to €98,705
- Financial charges -€3,228
down €3,228 (-17.2%), from €18,736 to €15,507
- Taxes -€2,200
down €2,200 (-10.2%), from €21,600 to €19,400
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 | €449,979 | €491,965 | +€41,986 | +9.3% |
| Fixed assets | 21/28 | €389,093 | €376,904 | -€12,189 | -3.1% |
| Tangible fixed assets | 22/27 | €389,093 | €376,904 | -€12,189 | -3.1% |
| Land and buildings | 22 | €377,916 | €368,191 | -€9,725 | -2.6% |
| Plant, machinery and equipment | 23 | €7,965 | €6,291 | -€1,674 | -21.0% |
| Furniture and vehicles | 24 | €3,212 | €2,422 | -€790 | -24.6% |
| Current assets | 29/58 | €60,886 | €115,061 | +€54,175 | +89.0% |
| Stocks and contracts in progress | 3 | €983 | €3,222 | +€2,239 | +227.8% |
| Stocks | 30/36 | €983 | €3,222 | +€2,239 | +227.8% |
| Amounts receivable within one year | 40/41 | €13,233 | €55,481 | +€42,248 | +319.3% |
| Trade receivables | 40 | €12,847 | €27,244 | +€14,397 | +112.1% |
| Other amounts receivable | 41 | €386 | €28,237 | +€27,851 | +7222.4% |
| Cash at bank and in hand | 54/58 | €46,608 | €56,358 | +€9,751 | +20.9% |
| Deferred charges and accrued income | 490/1 | €62 | €0 | -€62 | -100.0% |
| Total equity and liabilities | 10/49 | €449,979 | €491,965 | +€41,986 | +9.3% |
| Equity | 10/15 | €38,618 | €87,499 | +€48,881 | +126.6% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €37,000 | €37,000 | = | 0.0% |
| Distributable reserves | 133 | €37,000 | €37,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118 | €48,999 | +€48,881 | +41389.8% |
| Amounts payable | 17/49 | €411,361 | €404,466 | -€6,896 | -1.7% |
| Amounts payable after more than one year | 17 | €361,537 | €347,498 | -€14,039 | -3.9% |
| Financial debts | 170/4 | €361,537 | €347,498 | -€14,039 | -3.9% |
| Amounts payable within one year | 42/48 | €49,825 | €56,968 | +€7,143 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €13,483 | €14,039 | +€556 | +4.1% |
| Trade debts | 44 | €6,736 | €775 | -€5,961 | -88.5% |
| Suppliers | 440/4 | €6,736 | €775 | -€5,961 | -88.5% |
| Taxes, remuneration and social security | 45 | €23,400 | €42,154 | +€18,754 | +80.1% |
| Taxes | 450/3 | €23,400 | €42,154 | +€18,754 | +80.1% |
| Other amounts payable | 47/48 | €6,206 | €0 | -€6,206 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,787 | €12,189 | -€57,598 | -82.5% |
| Other operating charges | 640/8 | €3,795 | €2,727 | -€1,068 | -28.1% |
| Gross operating margin | 9900 | €150,974 | €98,705 | -€52,269 | -34.6% |
| Operating profit (loss) | 9901 | €77,391 | €83,789 | +€6,398 | +8.3% |
| Financial income | 75/76B | €62 | - | -€62 | |
| Recurring financial income | 75 | €62 | - | -€62 | |
| Financial charges | 65/66B | €18,736 | €15,507 | -€3,228 | -17.2% |
| Recurring financial charges | 65 | €18,736 | €15,507 | -€3,228 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €58,718 | €68,281 | +€9,563 | +16.3% |
| Income taxes | 67/77 | €21,600 | €19,400 | -€2,200 | -10.2% |
| Profit (loss) for the period | 9904 | €37,118 | €48,881 | +€11,763 | +31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,118 | €48,881 | +€11,763 | +31.7% |
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 30 September 2026 via checked.be.