JP HURKMANS: 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.
JP HURKMANS
Largest movements
- Cash +€16,690
up €16,690 (+303%), from €5,507 to €22,197
mainly Net result for the year (+€28,592) and Other debts (+€26,484)
- Receivables within one year -€9,088
down €9,088 (-55.3%), from €16,425 to €7,336
of which Other amounts receivable: -€5,017
- Tangible fixed assets -€3,744
down €3,744 (-24.1%), from €15,519 to €11,775
- Other debts +€26,484
new in 2025: €26,484
- Reserves -€13,596
down €13,596 (-8.2%), from €165,575 to €151,979
of which Distributable reserves: -€13,596
- Debts after one year -€10,160
down €10,160 (-63.6%), from €15,973 to €5,814
- Tax, wage and social debts +€4,713
up €4,713 (+757%), from €622 to €5,336
- Current portion of long-term debt -€3,489
down €3,489 (-25.6%), from €13,649 to €10,160
- Gross operating margin -€16,402
down €16,402 (-27.6%), from €59,523 to €43,121
- Taxes -€4,206
down €4,206 (-21.9%), from €19,228 to €15,022
- Financial charges -€829
down €829 (-40.7%), from €2,036 to €1,207
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 | €209,050 | €212,908 | +€3,858 | +1.8% |
| Fixed assets | 21/28 | €15,519 | €11,775 | -€3,744 | -24.1% |
| Tangible fixed assets | 22/27 | €15,519 | €11,775 | -€3,744 | -24.1% |
| Furniture and vehicles | 24 | €15,519 | €11,775 | -€3,744 | -24.1% |
| Current assets | 29/58 | €193,532 | €201,133 | +€7,602 | +3.9% |
| Amounts receivable after more than one year | 29 | €165,000 | €165,000 | = | 0.0% |
| Other amounts receivable | 291 | €165,000 | €165,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,425 | €7,336 | -€9,088 | -55.3% |
| Trade receivables | 40 | €10,636 | €6,564 | -€4,072 | -38.3% |
| Other amounts receivable | 41 | €5,789 | €772 | -€5,017 | -86.7% |
| Cash at bank and in hand | 54/58 | €5,507 | €22,197 | +€16,690 | +303% |
| Deferred charges and accrued income | 490/1 | €6,600 | €6,600 | = | 0.0% |
| Total equity and liabilities | 10/49 | €209,050 | €212,908 | +€3,858 | +1.8% |
| Equity | 10/15 | €177,975 | €164,379 | -€13,596 | -7.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €165,575 | €151,979 | -€13,596 | -8.2% |
| Non-distributable reserves | 130/1 | €8,874 | €8,874 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,874 | €8,874 | = | 0.0% |
| Distributable reserves | 133 | €156,701 | €143,105 | -€13,596 | -8.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €31,075 | €48,529 | +€17,454 | +56.2% |
| Amounts payable after more than one year | 17 | €15,973 | €5,814 | -€10,160 | -63.6% |
| Financial debts | 170/4 | €15,973 | €5,814 | -€10,160 | -63.6% |
| Amounts payable within one year | 42/48 | €15,102 | €42,715 | +€27,614 | +183% |
| Current portion of amounts payable after more than one year | 42 | €13,649 | €10,160 | -€3,489 | -25.6% |
| Trade debts | 44 | €831 | €736 | -€94 | -11.4% |
| Suppliers | 440/4 | €831 | €736 | -€94 | -11.4% |
| Taxes, remuneration and social security | 45 | €622 | €5,336 | +€4,713 | +757% |
| Taxes | 450/3 | €622 | €5,336 | +€4,713 | +757% |
| Other amounts payable | 47/48 | - | €26,484 | +€26,484 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,202 | €3,744 | +€542 | +16.9% |
| Other operating charges | 640/8 | €1,520 | €1,156 | -€364 | -24.0% |
| Gross operating margin | 9900 | €59,523 | €43,121 | -€16,402 | -27.6% |
| Operating profit (loss) | 9901 | €54,802 | €38,221 | -€16,581 | -30.3% |
| Financial income | 75/76B | €7,100 | €6,600 | -€500 | -7.0% |
| Recurring financial income | 75 | €6,600 | €6,600 | = | 0.0% |
| Non-recurring financial income | 76B | €500 | €0 | -€500 | -100% |
| Financial charges | 65/66B | €2,036 | €1,207 | -€829 | -40.7% |
| Recurring financial charges | 65 | €2,036 | €1,207 | -€829 | -40.7% |
| Profit (loss) for the period before taxes | 9903 | €59,865 | €43,614 | -€16,251 | -27.1% |
| Income taxes | 67/77 | €19,228 | €15,022 | -€4,206 | -21.9% |
| Profit (loss) for the period | 9904 | €40,637 | €28,592 | -€12,045 | -29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,637 | €28,592 | -€12,045 | -29.6% |
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 22 October 2026 via checked.be.