JHT21: 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.
What changed
JHT21
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€623,484
2024 · €4.2m-€3.5m
Equity
€28.4m
2024 · €27.7m+€623,484
Cash
€1.2m
2024 · €4.5m-€3.3m
Balance sheet total
€40.0m
2024 · €58.3m-€18.3m
Largest movements
Assets
- Financial fixed assets -€15.1m
down €15.1m (-29.1%), from €52.0m to €36.9m
- Cash -€3.3m
down €3.3m (-73.6%), from €4.5m to €1.2m
mainly Debts after one year (-€20.0m) and Smaller working-capital items (-€91,007)
Equity and liabilities
- Debts after one year -€20.0m
down €20.0m (-67.6%), from €29.5m to €9.6m
- Current portion of long-term debt +€991,061
up €991,061 (+99.1%), from €1.0m to €2.0m
- Profit (loss) carried forward +€623,484
up €623,484 (+7.2%), from €8.7m to €9.3m
Income statement
- Financial income -€2.5m
down €2.5m (-59.0%), from €4.2m to €1.7m
of which Financial income: -€2.5m
- Turnover +€372,656
up €372,656 (+30.7%), from €1.2m to €1.6m
- Services and other goods +€320,319
up €320,319 (+35.2%), from €910,930 to €1.2m
- Financial charges +€30,570
up €30,570 (+10.8%), from €282,061 to €312,631
of which Financial charges: +€30,570
- Taxes +€16,781
up €16,781 (+115%), from €14,638 to €31,419
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.
Result 2024
€4.2m
Turnover
+€372,656
Services and other goods
-€320,319
Other operating charges
+€5,593
Other operating items
-€1.1m
Financial income
-€2.5m
Financial charges
-€30,570
Taxes
-€16,781
Result 2025
€623,484
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€530,140
Investment
+€15.1m
Financing
-€19.0m
Cash 2024
€4.5m
From operations (derived)
+€530,140
Net result for the year
+€623,484
Depreciation
+€29,217
Smaller working-capital items
-€91,007
Receivables within one year
-€90,544
Tax, wage and social debts
+€58,990
Investment (derived)
+€15.1m
Investment in fixed assets (net)
+€15.1m
Financing
-€19.0m
Debts after one year
-€20.0m
Current portion of long-term debt
+€991,061
Contributions, distributions and other
-€0
Cash 2025
€1.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,329,481 | €40,012,209 | -€18.3m | -31.4% |
| Fixed assets | 21/28 | €52,104,330 | €36,962,123 | -€15.1m | -29.1% |
| Tangible fixed assets | 22/27 | €104,330 | €75,113 | -€29,217 | -28.0% |
| Furniture and vehicles | 24 | €104,330 | €75,113 | -€29,217 | -28.0% |
| Financial fixed assets | 28 | €52,000,000 | €36,887,010 | -€15.1m | -29.1% |
| Affiliated companies | 280/1 | €52,000,000 | €36,887,010 | -€15.1m | -29.1% |
| Participating interests | 280 | €52,000,000 | €36,887,010 | -€15.1m | -29.1% |
| Current assets | 29/58 | €6,225,151 | €3,050,085 | -€3.2m | -51.0% |
| Amounts receivable after more than one year | 29 | €1,438,261 | €1,481,963 | +€43,701 | +3.0% |
| Other amounts receivable | 291 | €1,438,261 | €1,481,963 | +€43,701 | +3.0% |
| Amounts receivable within one year | 40/41 | €265,478 | €356,023 | +€90,544 | +34.1% |
| Trade receivables | 40 | €217,876 | €265,216 | +€47,340 | +21.7% |
| Other amounts receivable | 41 | €47,602 | €90,807 | +€43,205 | +90.8% |
| Cash at bank and in hand | 54/58 | €4,515,711 | €1,190,372 | -€3.3m | -73.6% |
| Deferred charges and accrued income | 490/1 | €5,700 | €21,728 | +€16,029 | +281% |
| Total equity and liabilities | 10/49 | €58,329,481 | €40,012,209 | -€18.3m | -31.4% |
| Equity | 10/15 | €27,736,185 | €28,359,669 | +€623,484 | +2.2% |
| Contributions | 10/11 | €19,000,000 | €19,000,000 | = | 0.0% |
| Reserves | 13 | €75,961 | €75,961 | = | 0.0% |
| Non-distributable reserves | 130/1 | €75,961 | €75,961 | = | 0.0% |
| Reserves not available under the articles | 1311 | €75,961 | €75,961 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,660,224 | €9,283,708 | +€623,484 | +7.2% |
| Amounts payable | 17/49 | €30,593,296 | €11,652,539 | -€18.9m | -61.9% |
| Amounts payable after more than one year | 17 | €29,546,835 | €9,587,304 | -€20.0m | -67.6% |
| Financial debts | 170/4 | €29,546,835 | €9,587,304 | -€20.0m | -67.6% |
| Subordinated loans | 170 | €15,042,778 | - | -€15.0m | |
| Credit institutions | 173 | €14,000,000 | €5,000,000 | -€9.0m | -64.3% |
| Other loans | 174 | €504,056 | €4,587,304 | +€4.1m | +810% |
| Amounts payable within one year | 42/48 | €1,046,461 | €2,064,121 | +€1.0m | +97.2% |
| Current portion of amounts payable after more than one year | 42 | €1,000,000 | €1,991,061 | +€991,061 | +99.1% |
| Trade debts | 44 | €37,010 | €4,618 | -€32,392 | -87.5% |
| Suppliers | 440/4 | €37,010 | €4,618 | -€32,392 | -87.5% |
| Taxes, remuneration and social security | 45 | €9,451 | €68,441 | +€58,990 | +624% |
| Taxes | 450/3 | €9,451 | €68,441 | +€58,990 | +624% |
| Accrued charges and deferred income | 492/3 | - | €1,115 | +€1,115 | |
| Operating income | 70/76A | €1,212,626 | €1,585,281 | +€372,656 | +30.7% |
| Turnover | 70 | €1,212,626 | €1,585,281 | +€372,656 | +30.7% |
| Operating charges | 60/66A | €949,528 | €2,339,998 | +€1.4m | +146% |
| Services and other goods | 61 | €910,930 | €1,231,249 | +€320,319 | +35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,217 | €29,217 | = | 0.0% |
| Other operating charges | 640/8 | €8,125 | €2,532 | -€5,593 | -68.8% |
| Non-recurring operating charges | 66A | €1,257 | €1,077,000 | +€1.1m | +85,599% |
| Operating profit (loss) | 9901 | €263,097 | -€754,717 | -€1.0m | |
| Financial income | 75/76B | €4,196,370 | €1,722,251 | -€2.5m | -59.0% |
| Recurring financial income | 75 | €4,196,370 | €1,722,250 | -€2.5m | -59.0% |
| Income from financial fixed assets | 750 | €4,140,000 | €1,722,250 | -€2.4m | -58.4% |
| Income from current assets | 751 | €56,370 | - | -€56,370 | |
| Non-recurring financial income | 76B | - | €0 | +€0 | |
| Financial charges | 65/66B | €282,061 | €312,631 | +€30,570 | +10.8% |
| Recurring financial charges | 65 | €282,061 | €312,631 | +€30,570 | +10.8% |
| Debt charges | 650 | €986 | €306,385 | +€305,399 | +30,974% |
| Other financial charges | 652/9 | €281,075 | €6,246 | -€274,829 | -97.8% |
| Non-recurring financial charges | 66B | - | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | €4,177,406 | €654,903 | -€3.5m | -84.3% |
| Income taxes | 67/77 | €14,638 | €31,419 | +€16,781 | +115% |
| Taxes | 670/3 | €14,638 | €31,419 | +€16,781 | +115% |
| Profit (loss) for the period | 9904 | €4,162,768 | €623,484 | -€3.5m | -85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,162,768 | €623,484 | -€3.5m | -85.0% |
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 27 October 2026 via checked.be.