JHQ: 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.
JHQ
Largest movements
- Receivables within one year +€107,079
up €107,079 (+4308.6%), from €2,485 to €109,564
of which Trade receivables: +€107,079
- Cash +€10,090
up €10,090 (+60.4%), from €16,705 to €26,794
mainly Trade debts (+€109,667) and Tax, wage and social debts (+€3,467)
- Formation expenses -€2,200
down €2,200 (-14.3%), from €15,400 to €13,200
- Tangible fixed assets +€1,620
new in 2025: €1,620
- Trade debts +€109,667
up €109,667 (+2970.0%), from €3,693 to €113,359
- Tax, wage and social debts +€3,467
up €3,467 (+8.5%), from €40,585 to €44,052
of which Remuneration and social security: +€5,447
- Profit (loss) carried forward +€2,861
up €2,861 (+7.9%), from -€36,396 to -€33,536
- Turnover +€453,381
up €453,381 (+114.9%), from €394,502 to €847,883
- Purchases and services +€443,817
up €443,817 (+152.6%), from €290,923 to €734,739
- Gross operating margin +€11,716
up €11,716 (+11.3%), from €103,579 to €115,295
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 | €45,586 | €161,876 | +€116,290 | +255.1% |
| Formation expenses | 20 | €15,400 | €13,200 | -€2,200 | -14.3% |
| Fixed assets | 21/28 | €3,000 | €4,620 | +€1,620 | +54.0% |
| Tangible fixed assets | 22/27 | - | €1,620 | +€1,620 | |
| Plant, machinery and equipment | 23 | - | €1,620 | +€1,620 | |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €27,186 | €144,056 | +€116,870 | +429.9% |
| Stocks and contracts in progress | 3 | €7,996 | €7,450 | -€546 | -6.8% |
| Stocks | 30/36 | €7,996 | €7,450 | -€546 | -6.8% |
| Amounts receivable within one year | 40/41 | €2,485 | €109,564 | +€107,079 | +4308.6% |
| Trade receivables | 40 | €2,485 | €109,564 | +€107,079 | +4308.6% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €16,705 | €26,794 | +€10,090 | +60.4% |
| Deferred charges and accrued income | 490/1 | - | €247 | +€247 | |
| Total equity and liabilities | 10/49 | €45,586 | €161,876 | +€116,290 | +255.1% |
| Equity | 10/15 | -€30,196 | -€27,336 | +€2,861 | +9.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,396 | -€33,536 | +€2,861 | +7.9% |
| Amounts payable | 17/49 | €75,782 | €189,211 | +€113,429 | +149.7% |
| Amounts payable within one year | 42/48 | €74,592 | €187,726 | +€113,134 | +151.7% |
| Trade debts | 44 | €3,693 | €113,359 | +€109,667 | +2970.0% |
| Suppliers | 440/4 | €3,693 | €113,359 | +€109,667 | +2970.0% |
| Taxes, remuneration and social security | 45 | €40,585 | €44,052 | +€3,467 | +8.5% |
| Taxes | 450/3 | €7,737 | €5,757 | -€1,980 | -25.6% |
| Remuneration and social security | 454/9 | €32,848 | €38,295 | +€5,447 | +16.6% |
| Other amounts payable | 47/48 | €30,314 | €30,314 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,190 | €1,486 | +€295 | +24.8% |
| Turnover | 70 | €394,502 | €847,883 | +€453,381 | +114.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €290,923 | €734,739 | +€443,817 | +152.6% |
| Remuneration, social security and pensions | 62 | €113,276 | €108,191 | -€5,085 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,200 | €2,230 | +€30 | +1.4% |
| Other operating charges | 640/8 | €1,748 | €606 | -€1,142 | -65.3% |
| Non-recurring operating charges | 66A | - | €300 | +€300 | |
| Gross operating margin | 9900 | €103,579 | €115,295 | +€11,716 | +11.3% |
| Operating profit (loss) | 9901 | -€13,646 | €3,968 | +€17,614 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,303 | €1,044 | -€259 | -19.9% |
| Recurring financial charges | 65 | €1,303 | €1,044 | -€259 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | -€14,949 | €2,925 | +€17,874 | |
| Income taxes | 67/77 | - | €64 | +€64 | |
| Profit (loss) for the period | 9904 | -€14,949 | €2,861 | +€17,810 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,949 | €2,861 | +€17,810 |
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 6 October 2026 via checked.be.