JHES: 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.
JHES
Largest movements
- Receivables within one year -€105,225
down €105,225 (-14.4%), from €729,668 to €624,443
of which Other amounts receivable: -€131,475
- Reserves -€109,198
down €109,198 (-5.3%), from €2.1m to €2.0m
- Gross operating margin +€19,388
up €19,388 (+232.1%), from €8,352 to €27,740
- Financial income -€7,525
down €7,525 (-14.8%), from €50,688 to €43,163
- Taxes +€4,473
up €4,473 (+141.1%), from €3,169 to €7,642
- Other operating charges -€1,286
down €1,286 (-27.9%), from €4,601 to €3,315
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 | €2,130,580 | €2,023,587 | -€106,993 | -5.0% |
| Fixed assets | 21/28 | €542,766 | €525,040 | -€17,726 | -3.3% |
| Tangible fixed assets | 22/27 | €460,639 | €442,913 | -€17,726 | -3.8% |
| Land and buildings | 22 | €440,988 | €425,088 | -€15,900 | -3.6% |
| Furniture and vehicles | 24 | €517 | €0 | -€517 | -100.0% |
| Other tangible fixed assets | 26 | €19,133 | €17,825 | -€1,308 | -6.8% |
| Financial fixed assets | 28 | €82,128 | €82,128 | = | 0.0% |
| Current assets | 29/58 | €1,587,814 | €1,498,547 | -€89,267 | -5.6% |
| Amounts receivable within one year | 40/41 | €729,668 | €624,443 | -€105,225 | -14.4% |
| Trade receivables | 40 | - | €26,250 | +€26,250 | |
| Other amounts receivable | 41 | €729,668 | €598,193 | -€131,475 | -18.0% |
| Current investments | 50/53 | €304,781 | €304,781 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €529,982 | €528,100 | -€1,883 | -0.4% |
| Deferred charges and accrued income | 490/1 | €23,383 | €41,223 | +€17,841 | +76.3% |
| Total equity and liabilities | 10/49 | €2,130,580 | €2,023,587 | -€106,993 | -5.0% |
| Equity | 10/15 | €2,097,987 | €1,988,789 | -€109,198 | -5.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,079,387 | €1,970,189 | -€109,198 | -5.3% |
| Distributable reserves | 133 | €2,079,387 | €1,970,189 | -€109,198 | -5.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €32,594 | €34,798 | +€2,204 | +6.8% |
| Amounts payable after more than one year | 17 | €24,565 | €19,636 | -€4,929 | -20.1% |
| Financial debts | 170/4 | €24,565 | €19,636 | -€4,929 | -20.1% |
| Amounts payable within one year | 42/48 | €8,029 | €15,162 | +€7,133 | +88.8% |
| Current portion of amounts payable after more than one year | 42 | €4,708 | €4,929 | +€221 | +4.7% |
| Trade debts | 44 | €651 | €132 | -€519 | -79.8% |
| Suppliers | 440/4 | €651 | €132 | -€519 | -79.8% |
| Taxes, remuneration and social security | 45 | €2,670 | €9,023 | +€6,353 | +238.0% |
| Taxes | 450/3 | €2,670 | €9,023 | +€6,353 | +238.0% |
| Other amounts payable | 47/48 | - | €1,079 | +€1,079 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,934 | €17,726 | -€208 | -1.2% |
| Other operating charges | 640/8 | €4,601 | €3,315 | -€1,286 | -27.9% |
| Gross operating margin | 9900 | €8,352 | €27,740 | +€19,388 | +232.1% |
| Operating profit (loss) | 9901 | -€14,183 | €6,699 | +€20,882 | |
| Financial income | 75/76B | €50,688 | €43,163 | -€7,525 | -14.8% |
| Recurring financial income | 75 | €50,688 | €43,163 | -€7,525 | -14.8% |
| Financial charges | 65/66B | €1,569 | €1,417 | -€152 | -9.7% |
| Recurring financial charges | 65 | €1,569 | €1,417 | -€152 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €34,935 | €48,444 | +€13,509 | +38.7% |
| Income taxes | 67/77 | €3,169 | €7,642 | +€4,473 | +141.1% |
| Profit (loss) for the period | 9904 | €31,766 | €40,802 | +€9,036 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €31,766 | €40,802 | +€9,036 | +28.4% |
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 10 October 2026 via checked.be.