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.
JuTho
Largest movements
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Cash +€127,404
up €127,404 (+53.2%), from €239,671 to €367,075
mainly Current investments (+€150,000) and Net result for the year (+€42,526)
- Stocks and contracts +€65,065
up €65,065 (+33.0%), from €197,155 to €262,220
- Receivables within one year -€33,487
down €33,487 (-68.6%), from €48,807 to €15,320
of which Trade receivables: -€33,143
- Tangible fixed assets -€20,419
down €20,419 (-9.2%), from €222,356 to €201,936
of which Furniture and vehicles: -€14,104
- Debts after one year -€12,054
down €12,054 (-8.2%), from €146,860 to €134,806
- Trade debts +€8,769
up €8,769 (+11.5%), from €76,332 to €85,101
- Gross operating margin +€53,031
up €53,031 (+81.2%), from €65,305 to €118,337
- Staff costs +€20,537
new in 2025: €20,537
- Taxes +€10,638
up €10,638 (+96.3%), from €11,047 to €21,685
- Depreciation +€9,364
up €9,364 (+55.6%), from €16,852 to €26,216
- Financial income +€1,336
up €1,336 (+21.1%), from €6,335 to €7,671
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 | €857,989 | €846,552 | -€11,438 | -1.3% |
| Fixed assets | 21/28 | €222,356 | €201,936 | -€20,419 | -9.2% |
| Tangible fixed assets | 22/27 | €222,356 | €201,936 | -€20,419 | -9.2% |
| Land and buildings | 22 | €177,364 | €166,431 | -€10,933 | -6.2% |
| Plant, machinery and equipment | 23 | €752 | €5,371 | +€4,618 | +613.7% |
| Furniture and vehicles | 24 | €44,239 | €30,135 | -€14,104 | -31.9% |
| Current assets | 29/58 | €635,633 | €644,615 | +€8,982 | +1.4% |
| Stocks and contracts in progress | 3 | €197,155 | €262,220 | +€65,065 | +33.0% |
| Stocks | 30/36 | €197,155 | €262,220 | +€65,065 | +33.0% |
| Amounts receivable within one year | 40/41 | €48,807 | €15,320 | -€33,487 | -68.6% |
| Trade receivables | 40 | €43,648 | €10,505 | -€33,143 | -75.9% |
| Other amounts receivable | 41 | €5,159 | €4,815 | -€344 | -6.7% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €239,671 | €367,075 | +€127,404 | +53.2% |
| Total equity and liabilities | 10/49 | €857,989 | €846,552 | -€11,438 | -1.3% |
| Equity | 10/15 | €476,834 | €483,360 | +€6,526 | +1.4% |
| Contributions | 10/11 | €20,100 | €20,100 | = | 0.0% |
| Outside capital | 11 | €20,100 | €20,100 | = | 0.0% |
| Other | 1109/19 | €20,100 | €20,100 | = | 0.0% |
| Reserves | 13 | €448,897 | €455,423 | +€6,526 | +1.5% |
| Distributable reserves | 133 | €448,897 | €455,423 | +€6,526 | +1.5% |
| Profit (loss) carried forward | 14 | €7,837 | €7,837 | = | 0.0% |
| Amounts payable | 17/49 | €381,155 | €363,192 | -€17,963 | -4.7% |
| Amounts payable after more than one year | 17 | €146,860 | €134,806 | -€12,054 | -8.2% |
| Financial debts | 170/4 | €146,860 | €134,806 | -€12,054 | -8.2% |
| Amounts payable within one year | 42/48 | €209,429 | €205,053 | -€4,375 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €11,734 | €12,054 | +€319 | +2.7% |
| Trade debts | 44 | €76,332 | €85,101 | +€8,769 | +11.5% |
| Suppliers | 440/4 | €76,332 | €85,101 | +€8,769 | +11.5% |
| Advances received on contracts in progress | 46 | €8,814 | €2,280 | -€6,534 | -74.1% |
| Taxes, remuneration and social security | 45 | €14,017 | €7,061 | -€6,956 | -49.6% |
| Taxes | 450/3 | €9,869 | €1,229 | -€8,640 | -87.6% |
| Remuneration and social security | 454/9 | €4,148 | €5,832 | +€1,685 | +40.6% |
| Other amounts payable | 47/48 | €98,531 | €98,558 | +€27 | 0.0% |
| Accrued charges and deferred income | 492/3 | €24,867 | €23,332 | -€1,535 | -6.2% |
| Non-recurring operating income | 76A | €525 | - | -€525 | |
| Remuneration, social security and pensions | 62 | - | €20,537 | +€20,537 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,852 | €26,216 | +€9,364 | +55.6% |
| Other operating charges | 640/8 | €2,560 | €3,021 | +€461 | +18.0% |
| Gross operating margin | 9900 | €65,305 | €118,337 | +€53,031 | +81.2% |
| Operating profit (loss) | 9901 | €45,893 | €68,563 | +€22,670 | +49.4% |
| Financial income | 75/76B | €6,335 | €7,671 | +€1,336 | +21.1% |
| Recurring financial income | 75 | €6,335 | €7,671 | +€1,336 | +21.1% |
| Financial charges | 65/66B | €12,678 | €12,023 | -€655 | -5.2% |
| Recurring financial charges | 65 | €12,678 | €12,023 | -€655 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €39,551 | €64,211 | +€24,660 | +62.4% |
| Income taxes | 67/77 | €11,047 | €21,685 | +€10,638 | +96.3% |
| Profit (loss) for the period | 9904 | €28,503 | €42,526 | +€14,022 | +49.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,503 | €42,526 | +€14,022 | +49.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.