JPHA: 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.
JPHA
Largest movements
- Cash -€9,010
down €9,010 (-86.8%), from €10,375 to €1,365
mainly Net result for the year (-€55,972) and Investment in fixed assets (net) (-€3,774)
- Tangible fixed assets -€2,384
down €2,384 (-11.6%), from €20,542 to €18,157
of which Furniture and vehicles: -€3,830
- Profit (loss) carried forward -€55,972
down €55,972 (-50.0%), from -€111,997 to -€167,969
- Other debts +€48,492
up €48,492 (+17.6%), from €275,185 to €323,677
- Gross operating margin -€107,633
down €107,633, from €58,640 to -€48,993
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 | €186,419 | €178,142 | -€8,277 | -4.4% |
| Fixed assets | 21/28 | €25,542 | €24,507 | -€1,034 | -4.0% |
| Tangible fixed assets | 22/27 | €20,542 | €18,157 | -€2,384 | -11.6% |
| Furniture and vehicles | 24 | €10,846 | €7,016 | -€3,830 | -35.3% |
| Other tangible fixed assets | 26 | €9,696 | €11,142 | +€1,446 | +14.9% |
| Financial fixed assets | 28 | €5,000 | €6,350 | +€1,350 | +27.0% |
| Current assets | 29/58 | €160,877 | €153,635 | -€7,242 | -4.5% |
| Amounts receivable within one year | 40/41 | €25,430 | €27,131 | +€1,701 | +6.7% |
| Trade receivables | 40 | €5,601 | €352 | -€5,249 | -93.7% |
| Other amounts receivable | 41 | €19,829 | €26,779 | +€6,950 | +35.1% |
| Cash at bank and in hand | 54/58 | €10,375 | €1,365 | -€9,010 | -86.8% |
| Deferred charges and accrued income | 490/1 | €125,072 | €125,139 | +€67 | +0.1% |
| Total equity and liabilities | 10/49 | €186,419 | €178,142 | -€8,277 | -4.4% |
| Equity | 10/15 | -€97,737 | -€153,709 | -€55,972 | -57.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,997 | -€167,969 | -€55,972 | -50.0% |
| Amounts payable | 17/49 | €284,156 | €331,852 | +€47,695 | +16.8% |
| Amounts payable within one year | 42/48 | €284,156 | €331,852 | +€47,695 | +16.8% |
| Financial debts | 43 | €72 | €111 | +€40 | +55.1% |
| Credit institutions | 430/8 | €72 | €111 | +€40 | +55.1% |
| Trade debts | 44 | €8,242 | €7,185 | -€1,057 | -12.8% |
| Suppliers | 440/4 | €8,242 | €7,185 | -€1,057 | -12.8% |
| Taxes, remuneration and social security | 45 | €657 | €878 | +€222 | +33.7% |
| Taxes | 450/3 | €657 | €878 | +€222 | +33.7% |
| Other amounts payable | 47/48 | €275,185 | €323,677 | +€48,492 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,467 | €4,808 | +€341 | +7.6% |
| Other operating charges | 640/8 | €1,483 | €1,290 | -€193 | -13.0% |
| Non-recurring operating charges | 66A | -€8 | €40 | +€48 | |
| Gross operating margin | 9900 | €58,640 | -€48,993 | -€107,633 | |
| Operating profit (loss) | 9901 | €52,698 | -€55,132 | -€107,830 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €311 | €345 | +€34 | +11.1% |
| Recurring financial charges | 65 | €311 | €345 | +€34 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €52,387 | -€55,477 | -€107,864 | |
| Income taxes | 67/77 | €383 | €495 | +€112 | +29.1% |
| Profit (loss) for the period | 9904 | €52,004 | -€55,972 | -€107,976 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,004 | -€55,972 | -€107,976 |
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 1 October 2026 via checked.be.