G.J.L.: 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.
G.J.L.
Largest movements
- Receivables within one year +€79,884
up €79,884 (+12.4%), from €645,742 to €725,626
of which Trade receivables: +€79,878
- Deferred charges and accrued income -€25,335
down €25,335 (-51.2%), from €49,493 to €24,157
- Trade debts -€101,323
down €101,323 (-26.8%), from €378,700 to €277,377
- Reserves +€58,000
up €58,000 (+18.7%), from €310,860 to €368,860
of which Distributable reserves: +€58,000
- Accrued charges and deferred income +€38,082
new in 2025: €38,082
- Tax, wage and social debts +€34,855
up €34,855 (+145.4%), from €23,969 to €58,824
of which Taxes: +€31,756
- Other debts +€33,105
up €33,105 (+61.5%), from €53,799 to €86,904
- Gross operating margin -€58,334
down €58,334 (-14.0%), from €417,371 to €359,037
- Staff costs -€49,826
down €49,826 (-33.1%), from €150,677 to €100,851
- Financial charges +€36,832
up €36,832 (+628.2%), from €5,863 to €42,695
- Taxes +€30,916
up €30,916 (+245.9%), from €12,571 to €43,487
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 | €858,813 | €922,480 | +€63,668 | +7.4% |
| Fixed assets | 21/28 | €105,012 | €114,223 | +€9,211 | +8.8% |
| Tangible fixed assets | 22/27 | €70,012 | €79,223 | +€9,211 | +13.2% |
| Furniture and vehicles | 24 | €70,012 | €79,223 | +€9,211 | +13.2% |
| Financial fixed assets | 28 | €35,000 | €35,000 | = | 0.0% |
| Current assets | 29/58 | €753,801 | €808,257 | +€54,457 | +7.2% |
| Amounts receivable within one year | 40/41 | €645,742 | €725,626 | +€79,884 | +12.4% |
| Trade receivables | 40 | €644,484 | €724,362 | +€79,878 | +12.4% |
| Other amounts receivable | 41 | €1,258 | €1,264 | +€5 | +0.4% |
| Cash at bank and in hand | 54/58 | €58,566 | €58,474 | -€92 | -0.2% |
| Deferred charges and accrued income | 490/1 | €49,493 | €24,157 | -€25,335 | -51.2% |
| Total equity and liabilities | 10/49 | €858,813 | €922,480 | +€63,668 | +7.4% |
| Equity | 10/15 | €402,345 | €461,294 | +€58,949 | +14.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €310,860 | €368,860 | +€58,000 | +18.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €309,000 | €367,000 | +€58,000 | +18.8% |
| Profit (loss) carried forward | 14 | €72,885 | €73,834 | +€949 | +1.3% |
| Amounts payable | 17/49 | €456,468 | €461,186 | +€4,719 | +1.0% |
| Amounts payable within one year | 42/48 | €456,468 | €423,105 | -€33,363 | -7.3% |
| Trade debts | 44 | €378,700 | €277,377 | -€101,323 | -26.8% |
| Suppliers | 440/4 | €378,700 | €277,377 | -€101,323 | -26.8% |
| Taxes, remuneration and social security | 45 | €23,969 | €58,824 | +€34,855 | +145.4% |
| Taxes | 450/3 | €18,293 | €50,049 | +€31,756 | +173.6% |
| Remuneration and social security | 454/9 | €5,675 | €8,774 | +€3,099 | +54.6% |
| Other amounts payable | 47/48 | €53,799 | €86,904 | +€33,105 | +61.5% |
| Accrued charges and deferred income | 492/3 | - | €38,082 | +€38,082 | |
| Non-recurring operating income | 76A | - | €3,285 | +€3,285 | |
| Remuneration, social security and pensions | 62 | €150,677 | €100,851 | -€49,826 | -33.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,000 | €30,582 | +€582 | +1.9% |
| Other operating charges | 640/8 | €5,382 | €5,273 | -€109 | -2.0% |
| Non-recurring operating charges | 66A | €183,214 | €37,200 | -€146,014 | -79.7% |
| Gross operating margin | 9900 | €417,371 | €359,037 | -€58,334 | -14.0% |
| Operating profit (loss) | 9901 | €48,099 | €185,131 | +€137,032 | +284.9% |
| Financial charges | 65/66B | €5,863 | €42,695 | +€36,832 | +628.2% |
| Recurring financial charges | 65 | €5,863 | €42,695 | +€36,832 | +628.2% |
| Profit (loss) for the period before taxes | 9903 | €42,236 | €142,436 | +€100,200 | +237.2% |
| Income taxes | 67/77 | €12,571 | €43,487 | +€30,916 | +245.9% |
| Profit (loss) for the period | 9904 | €29,665 | €98,949 | +€69,284 | +233.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,665 | €98,949 | +€69,284 | +233.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.