@valterj ,
For Major, Minor or JHF's (Same for that matter), the entity we release is called "Take"
So, when we released R80.40 for general Availability it was "Take 294" for example,
When we just announced R81 as default it was with "Take 392" ( and recent R81.10 take 335)
Each version like that, has a corresponding JHF.
For example, R80.40 has a matching JHF, R81 as well, and R81.10 will have one released soon.
the corresponding JHF's are released after we release a version as General Availability
As said, the entity of the JHF is also called a take ( in your case "Take 118")
You also have a bundle that installs both Main Version and it's corresponding JHF all together. This is called "Gaia fast deployment" (AKA blink) and can be found on each version JHF SK (like the one you mentioned)
Are those version accumulative: Yes
So your current version of Gaia is R80.40 take 294 ( to see this run "show version all" in clish, or "clish -c ver" in expert mode) - that version of Gaia will not change as long as you are on R80.40
and the Corresponding JHF is take 118 - (to see that run "cpinfo -y all" in export mode) - that version will change if you will install a later JHF take,
See more information in Jumbo Hotfix Accumulator FAQ SK
Hope that helps.
Shlomi