JH Partners: 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.
JH Partners
Largest movements
- Current investments +€678,500
up €678,500 (+152%), from €445,500 to €1.1m
- Cash -€106,495
down €106,495 (-91.0%), from €117,066 to €10,571
mainly Current investments (-€678,500) and Trade debts (-€7,333)
- Reserves +€419,108
up €419,108 (+95.8%), from €437,404 to €856,513
- Tax, wage and social debts +€150,903
up €150,903 (+101%), from €149,758 to €300,661
- Gross operating margin +€261,050
up €261,050 (+73.5%), from €355,014 to €616,064
- Taxes +€109,878
up €109,878 (+122%), from €90,063 to €199,941
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 | €643,061 | €1,206,259 | +€563,198 | +87.6% |
| Fixed assets | 21/28 | €36,950 | €27,669 | -€9,281 | -25.1% |
| Tangible fixed assets | 22/27 | €36,950 | €27,669 | -€9,281 | -25.1% |
| Furniture and vehicles | 24 | €33,826 | €24,892 | -€8,933 | -26.4% |
| Other tangible fixed assets | 26 | €3,124 | €2,777 | -€347 | -11.1% |
| Current assets | 29/58 | €606,111 | €1,178,589 | +€572,478 | +94.5% |
| Amounts receivable within one year | 40/41 | €38,204 | €36,399 | -€1,805 | -4.7% |
| Trade receivables | 40 | €37,578 | €36,302 | -€1,277 | -3.4% |
| Other amounts receivable | 41 | €626 | €97 | -€529 | -84.5% |
| Current investments | 50/53 | €445,500 | €1,124,000 | +€678,500 | +152% |
| Cash at bank and in hand | 54/58 | €117,066 | €10,571 | -€106,495 | -91.0% |
| Deferred charges and accrued income | 490/1 | €5,341 | €7,620 | +€2,279 | +42.7% |
| Total equity and liabilities | 10/49 | €643,061 | €1,206,259 | +€563,198 | +87.6% |
| Equity | 10/15 | €439,904 | €859,013 | +€419,108 | +95.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €437,404 | €856,513 | +€419,108 | +95.8% |
| Distributable reserves | 133 | €437,404 | €856,513 | +€419,108 | +95.8% |
| Amounts payable | 17/49 | €203,156 | €347,246 | +€144,089 | +70.9% |
| Amounts payable within one year | 42/48 | €203,156 | €347,246 | +€144,089 | +70.9% |
| Trade debts | 44 | €8,798 | €1,465 | -€7,333 | -83.3% |
| Suppliers | 440/4 | €8,798 | €1,465 | -€7,333 | -83.3% |
| Taxes, remuneration and social security | 45 | €149,758 | €300,661 | +€150,903 | +101% |
| Taxes | 450/3 | €149,758 | €300,661 | +€150,903 | +101% |
| Other amounts payable | 47/48 | €44,600 | €45,119 | +€519 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,881 | €9,281 | +€399 | +4.5% |
| Other operating charges | 640/8 | €387 | €1,054 | +€667 | +172% |
| Gross operating margin | 9900 | €355,014 | €616,064 | +€261,050 | +73.5% |
| Operating profit (loss) | 9901 | €345,746 | €605,729 | +€259,983 | +75.2% |
| Financial income | 75/76B | €13,605 | €13,673 | +€68 | +0.5% |
| Recurring financial income | 75 | €13,605 | €13,673 | +€68 | +0.5% |
| Financial charges | 65/66B | €90 | €353 | +€264 | +294% |
| Recurring financial charges | 65 | €90 | €353 | +€264 | +294% |
| Profit (loss) for the period before taxes | 9903 | €359,261 | €619,049 | +€259,788 | +72.3% |
| Income taxes | 67/77 | €90,063 | €199,941 | +€109,878 | +122% |
| Profit (loss) for the period | 9904 | €269,198 | €419,108 | +€149,910 | +55.7% |
| Profit (loss) for the period to be appropriated | 9905 | €269,198 | €419,108 | +€149,910 | +55.7% |
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 28 October 2026 via checked.be.