JUTHO: 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.
What changed
JUTHO
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€45,850
2024 · €20,639+€25,211
Equity
€611,161
2024 · €565,311+€45,850
Cash
€32,132
2024 · €30,555+€1,577
Balance sheet total
€1.5m
2024 · €1.6m-€103,944
Largest movements
Assets
- Tangible fixed assets -€89,484
down €89,484 (-6.0%), from €1.5m to €1.4m
of which Land and buildings: -€44,903
Equity and liabilities
- Debts after one year -€117,947
down €117,947 (-19.0%), from €619,488 to €501,541
- Other debts +€81,059
up €81,059 (+78.5%), from €103,209 to €184,268
- Trade debts -€56,711
down €56,711 (-92.4%), from €61,369 to €4,658
- Reserves +€45,850
up €45,850 (+13.3%), from €343,550 to €389,400
of which Distributable reserves: +€49,211
- Tax, wage and social debts -€39,882
down €39,882 (-47.5%), from €83,929 to €44,047
Income statement
- Gross operating margin -€72,995
down €72,995 (-22.3%), from €326,836 to €253,841
- Financial charges -€18,162
down €18,162 (-40.2%), from €45,231 to €27,069
- Other operating charges -€12,779
down €12,779 (-55.0%), from €23,239 to €10,460
- Taxes -€5,073
down €5,073 (-15.3%), from €33,064 to €27,991
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
€20,639
Gross operating margin
-€72,995
Depreciation
+€177
Other operating charges
+€12,779
Other operating items
+€62,539
Financial income
-€522
Financial charges
+€18,162
Taxes
+€5,073
Result 2025
€45,850
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.
From operations
+€180,717
Investment
-€55,103
Financing
-€124,037
Cash 2024
€30,555
From operations (derived)
+€180,717
Net result for the year
+€45,850
Depreciation
+€144,587
Receivables within one year
+€15,518
Deferred charges and accrued income
+€520
Provisions
-€1,731
Trade debts
-€56,711
Tax, wage and social debts
-€39,882
Other debts
+€81,059
Accrued charges and deferred income
-€8,492
Investment (derived)
-€55,103
Investment in fixed assets (net)
-€55,103
Financing
-€124,037
Debts after one year
-€117,947
Current portion of long-term debt
+€2,360
Short-term financial debts
-€8,450
Cash 2025
€32,132
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,594,613 | €1,490,670 | -€103,944 | -6.5% |
| Fixed assets | 21/28 | €1,499,951 | €1,410,467 | -€89,484 | -6.0% |
| Tangible fixed assets | 22/27 | €1,497,451 | €1,407,967 | -€89,484 | -6.0% |
| Land and buildings | 22 | €1,397,965 | €1,353,063 | -€44,903 | -3.2% |
| Plant, machinery and equipment | 23 | €72,209 | €40,405 | -€31,805 | -44.0% |
| Furniture and vehicles | 24 | €24,503 | €11,726 | -€12,777 | -52.1% |
| Other tangible fixed assets | 26 | €2,773 | €2,773 | = | 0.0% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €94,663 | €80,203 | -€14,460 | -15.3% |
| Amounts receivable within one year | 40/41 | €57,498 | €41,980 | -€15,518 | -27.0% |
| Trade receivables | 40 | €45,167 | €33,880 | -€11,287 | -25.0% |
| Other amounts receivable | 41 | €12,331 | €8,100 | -€4,231 | -34.3% |
| Cash at bank and in hand | 54/58 | €30,555 | €32,132 | +€1,577 | +5.2% |
| Deferred charges and accrued income | 490/1 | €6,610 | €6,090 | -€520 | -7.9% |
| Total equity and liabilities | 10/49 | €1,594,613 | €1,490,670 | -€103,944 | -6.5% |
| Equity | 10/15 | €565,311 | €611,161 | +€45,850 | +8.1% |
| Contributions | 10/11 | €221,500 | €221,500 | = | 0.0% |
| Capital | 10 | €221,500 | €221,500 | = | 0.0% |
| Issued capital | 100 | €221,500 | €221,500 | = | 0.0% |
| Reserves | 13 | €343,550 | €389,400 | +€45,850 | +13.3% |
| Non-distributable reserves | 130/1 | €22,150 | €22,150 | = | 0.0% |
| Legal reserve | 130 | €22,150 | €22,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €80,752 | €77,391 | -€3,361 | -4.2% |
| Distributable reserves | 133 | €240,647 | €289,858 | +€49,211 | +20.4% |
| Profit (loss) carried forward | 14 | €261 | €261 | +€0 | +0.1% |
| Provisions and deferred taxes | 16 | €19,903 | €18,172 | -€1,731 | -8.7% |
| Deferred taxes | 168 | €19,903 | €18,172 | -€1,731 | -8.7% |
| Amounts payable | 17/49 | €1,009,400 | €861,336 | -€148,063 | -14.7% |
| Amounts payable after more than one year | 17 | €619,488 | €501,541 | -€117,947 | -19.0% |
| Financial debts | 170/4 | €619,488 | €501,541 | -€117,947 | -19.0% |
| Amounts payable within one year | 42/48 | €370,223 | €348,599 | -€21,624 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €113,266 | €115,627 | +€2,360 | +2.1% |
| Financial debts | 43 | €8,450 | €0 | -€8,450 | -100.0% |
| Credit institutions | 430/8 | €8,450 | €0 | -€8,450 | -100.0% |
| Trade debts | 44 | €61,369 | €4,658 | -€56,711 | -92.4% |
| Suppliers | 440/4 | €61,369 | €4,658 | -€56,711 | -92.4% |
| Taxes, remuneration and social security | 45 | €83,929 | €44,047 | -€39,882 | -47.5% |
| Taxes | 450/3 | €83,929 | €44,047 | -€39,882 | -47.5% |
| Other amounts payable | 47/48 | €103,209 | €184,268 | +€81,059 | +78.5% |
| Accrued charges and deferred income | 492/3 | €19,689 | €11,197 | -€8,492 | -43.1% |
| Non-recurring operating income | 76A | €62,664 | €5,498 | -€57,167 | -91.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,763 | €144,587 | -€177 | -0.1% |
| Other operating charges | 640/8 | €23,239 | €10,460 | -€12,779 | -55.0% |
| Non-recurring operating charges | 66A | €62,539 | €0 | -€62,539 | -100.0% |
| Gross operating margin | 9900 | €326,836 | €253,841 | -€72,995 | -22.3% |
| Operating profit (loss) | 9901 | €96,295 | €98,794 | +€2,499 | +2.6% |
| Financial income | 75/76B | €909 | €387 | -€522 | -57.5% |
| Recurring financial income | 75 | €909 | €387 | -€522 | -57.5% |
| Financial charges | 65/66B | €45,231 | €27,069 | -€18,162 | -40.2% |
| Recurring financial charges | 65 | €45,231 | €27,069 | -€18,162 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €51,972 | €72,111 | +€20,139 | +38.7% |
| Transfer from deferred taxes | 780 | €1,731 | €1,731 | = | 0.0% |
| Income taxes | 67/77 | €33,064 | €27,991 | -€5,073 | -15.3% |
| Profit (loss) for the period | 9904 | €20,639 | €45,850 | +€25,211 | +122.2% |
| Transfer from tax-exempt reserves | 789 | €3,361 | €3,361 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €24,000 | €49,211 | +€25,211 | +105.0% |
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.