G.N.J.: 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.N.J.
Largest movements
- Receivables after one year -€18,497
no longer reported in 2025 (was €18,497)
- Stocks and contracts +€12,563
up €12,563 (+133%), from €9,457 to €22,021
- Cash +€7,220
up €7,220 (+5.6%), from €128,827 to €136,047
mainly Other debts (+€31,014) and Net result for the year (+€27,554)
- Receivables within one year +€6,648
up €6,648 (+48.8%), from €13,629 to €20,278
- Other debts +€31,014
up €31,014 (+40.4%), from €76,752 to €107,767
- Trade debts -€26,985
down €26,985 (-49.4%), from €54,603 to €27,618
of which Bills of exchange payable: -€44,768
- Debts after one year -€7,942
down €7,942 (-52.5%), from €15,138 to €7,196
- Profit (loss) carried forward +€7,554
up €7,554 (+69.7%), from -€10,832 to -€3,278
- Tax, wage and social debts +€3,932
up €3,932 (+35.5%), from €11,074 to €15,006
of which Taxes: +€2,162
- Gross operating margin +€51,616
up €51,616 (+103%), from €50,018 to €101,634
- Staff costs +€22,258
up €22,258 (+47.6%), from €46,772 to €69,030
- Financial income +€4,134
up €4,134 (+458%), from €902 to €5,036
- Taxes +€2,716
new in 2025: €2,716
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 | €173,201 | €180,889 | +€7,688 | +4.4% |
| Fixed assets | 21/28 | €2,791 | €2,544 | -€247 | -8.8% |
| Tangible fixed assets | 22/27 | €1,983 | €1,737 | -€247 | -12.4% |
| Plant, machinery and equipment | 23 | €1,983 | €740 | -€1,243 | -62.7% |
| Furniture and vehicles | 24 | - | €997 | +€997 | |
| Financial fixed assets | 28 | €807 | €807 | = | 0.0% |
| Current assets | 29/58 | €170,410 | €178,345 | +€7,935 | +4.7% |
| Amounts receivable after more than one year | 29 | €18,497 | - | -€18,497 | |
| Other amounts receivable | 291 | €18,497 | - | -€18,497 | |
| Stocks and contracts in progress | 3 | €9,457 | €22,021 | +€12,563 | +133% |
| Stocks | 30/36 | €9,457 | €22,021 | +€12,563 | +133% |
| Amounts receivable within one year | 40/41 | €13,629 | €20,278 | +€6,648 | +48.8% |
| Trade receivables | 40 | €13,629 | €20,278 | +€6,648 | +48.8% |
| Cash at bank and in hand | 54/58 | €128,827 | €136,047 | +€7,220 | +5.6% |
| Total equity and liabilities | 10/49 | €173,201 | €180,889 | +€7,688 | +4.4% |
| Equity | 10/15 | €7,768 | €15,322 | +€7,554 | +97.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,832 | -€3,278 | +€7,554 | +69.7% |
| Amounts payable | 17/49 | €165,433 | €165,567 | +€134 | +0.1% |
| Amounts payable after more than one year | 17 | €15,138 | €7,196 | -€7,942 | -52.5% |
| Financial debts | 170/4 | €15,138 | €7,196 | -€7,942 | -52.5% |
| Amounts payable within one year | 42/48 | €150,295 | €158,372 | +€8,076 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €7,866 | €7,981 | +€115 | +1.5% |
| Trade debts | 44 | €54,603 | €27,618 | -€26,985 | -49.4% |
| Suppliers | 440/4 | €9,835 | €27,618 | +€17,784 | +181% |
| Bills of exchange payable | 441 | €44,768 | - | -€44,768 | |
| Taxes, remuneration and social security | 45 | €11,074 | €15,006 | +€3,932 | +35.5% |
| Taxes | 450/3 | €4,887 | €7,050 | +€2,162 | +44.2% |
| Remuneration and social security | 454/9 | €6,186 | €7,956 | +€1,770 | +28.6% |
| Other amounts payable | 47/48 | €76,752 | €107,767 | +€31,014 | +40.4% |
| Remuneration, social security and pensions | 62 | €46,772 | €69,030 | +€22,258 | +47.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,684 | €2,684 | = | 0.0% |
| Other operating charges | 640/8 | €1,443 | €1,515 | +€72 | +5.0% |
| Gross operating margin | 9900 | €50,018 | €101,634 | +€51,616 | +103% |
| Operating profit (loss) | 9901 | -€881 | €28,405 | +€29,287 | |
| Financial income | 75/76B | €902 | €5,036 | +€4,134 | +458% |
| Recurring financial income | 75 | €902 | €5,036 | +€4,134 | +458% |
| Financial charges | 65/66B | €3,227 | €3,171 | -€56 | -1.7% |
| Recurring financial charges | 65 | €3,227 | €3,171 | -€56 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,207 | €30,270 | +€33,477 | |
| Income taxes | 67/77 | - | €2,716 | +€2,716 | |
| Profit (loss) for the period | 9904 | -€3,207 | €27,554 | +€30,760 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,207 | €27,554 | +€30,760 |
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 24 October 2026 via checked.be.