JTH: 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.
JTH
Largest movements
- Receivables within one year +€295,650
up €295,650 (+300%), from €98,648 to €394,298
of which Other amounts receivable: +€207,530
- Debts after one year +€161,560
up €161,560 (+234%), from €69,085 to €230,644
- Reserves +€66,692
up €66,692 (+28.8%), from €231,587 to €298,279
of which Distributable reserves: +€116,692
- Current portion of long-term debt +€49,455
up €49,455 (+263%), from €18,825 to €68,280
- Tax, wage and social debts +€44,774
up €44,774 (+315%), from €14,192 to €58,966
- Accrued charges and deferred income -€22,060
no longer reported in 2025 (was €22,060)
- Gross operating margin +€132,562
up €132,562 (+552%), from €24,027 to €156,588
- Taxes +€40,457
up €40,457 (+825%), from €4,902 to €45,360
- Financial income +€7,218
up €7,218 (+357%), from €2,023 to €9,241
- Financial charges +€6,765
up €6,765 (+214%), from €3,160 to €9,925
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 | €1,304,586 | €1,595,328 | +€290,741 | +22.3% |
| Fixed assets | 21/28 | €1,203,606 | €1,199,500 | -€4,106 | -0.3% |
| Tangible fixed assets | 22/27 | €4,106 | - | -€4,106 | |
| Furniture and vehicles | 24 | €4,106 | - | -€4,106 | |
| Financial fixed assets | 28 | €1,199,500 | €1,199,500 | = | 0.0% |
| Current assets | 29/58 | €100,980 | €395,828 | +€294,847 | +292% |
| Amounts receivable within one year | 40/41 | €98,648 | €394,298 | +€295,650 | +300% |
| Trade receivables | 40 | €31,880 | €120,000 | +€88,120 | +276% |
| Other amounts receivable | 41 | €66,768 | €274,298 | +€207,530 | +311% |
| Cash at bank and in hand | 54/58 | €900 | €34 | -€865 | -96.2% |
| Deferred charges and accrued income | 490/1 | €1,433 | €1,496 | +€63 | +4.4% |
| Total equity and liabilities | 10/49 | €1,304,586 | €1,595,328 | +€290,741 | +22.3% |
| Equity | 10/15 | €731,587 | €798,279 | +€66,692 | +9.1% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €231,587 | €298,279 | +€66,692 | +28.8% |
| Non-distributable reserves | 130/1 | €50,000 | - | -€50,000 | |
| Reserves not available under the articles | 1311 | €50,000 | - | -€50,000 | |
| Distributable reserves | 133 | €181,587 | €298,279 | +€116,692 | +64.3% |
| Amounts payable | 17/49 | €572,999 | €797,049 | +€224,050 | +39.1% |
| Amounts payable after more than one year | 17 | €69,085 | €230,644 | +€161,560 | +234% |
| Financial debts | 170/4 | €69,085 | €230,644 | +€161,560 | +234% |
| Amounts payable within one year | 42/48 | €481,855 | €566,404 | +€84,550 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €18,825 | €68,280 | +€49,455 | +263% |
| Trade debts | 44 | €10,287 | €5,473 | -€4,814 | -46.8% |
| Suppliers | 440/4 | €10,287 | €5,473 | -€4,814 | -46.8% |
| Taxes, remuneration and social security | 45 | €14,192 | €58,966 | +€44,774 | +315% |
| Taxes | 450/3 | €14,192 | €58,966 | +€44,774 | +315% |
| Other amounts payable | 47/48 | €438,550 | €433,685 | -€4,865 | -1.1% |
| Accrued charges and deferred income | 492/3 | €22,060 | - | -€22,060 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,537 | €4,106 | -€431 | -9.5% |
| Other operating charges | 640/8 | €1,998 | €1,177 | -€821 | -41.1% |
| Gross operating margin | 9900 | €24,027 | €156,588 | +€132,562 | +552% |
| Operating profit (loss) | 9901 | €17,492 | €151,305 | +€133,814 | +765% |
| Financial income | 75/76B | €2,023 | €9,241 | +€7,218 | +357% |
| Recurring financial income | 75 | €2,023 | €9,241 | +€7,218 | +357% |
| Financial charges | 65/66B | €3,160 | €9,925 | +€6,765 | +214% |
| Recurring financial charges | 65 | €3,160 | €9,925 | +€6,765 | +214% |
| Profit (loss) for the period before taxes | 9903 | €16,355 | €150,621 | +€134,267 | +821% |
| Income taxes | 67/77 | €4,902 | €45,360 | +€40,457 | +825% |
| Profit (loss) for the period | 9904 | €11,452 | €105,262 | +€93,810 | +819% |
| Profit (loss) for the period to be appropriated | 9905 | €11,452 | €105,262 | +€93,810 | +819% |
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 19 October 2026 via checked.be.