GC-JD: 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.
GC-JD
Largest movements
- Receivables within one year -€49,965
down €49,965 (-16.9%), from €294,995 to €245,031
of which Trade receivables: -€36,015
- Cash -€47,596
down €47,596 (-81.1%), from €58,698 to €11,102
mainly Trade debts (-€161,193) and Debts after one year (-€103,422)
- Deferred charges and accrued income -€30,054
down €30,054 (-86.7%), from €34,677 to €4,623
- Other debts +€212,092
up €212,092 (+35.9%), from €590,461 to €802,554
- Trade debts -€161,193
down €161,193 (-82.5%), from €195,322 to €34,128
- Debts after one year -€103,422
down €103,422 (-11.4%), from €906,834 to €803,412
- Reserves -€39,779
down €39,779 (-50.8%), from €78,292 to €38,512
- Tax, wage and social debts -€27,143
down €27,143 (-68.9%), from €39,371 to €12,228
- Gross operating margin -€332,878
down €332,878 (-66.5%), from €500,665 to €167,786
- Other operating charges -€173,267
down €173,267 (-59.5%), from €291,428 to €118,161
- Taxes +€11,478
up €11,478 (+160%), from €7,191 to €18,669
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 | €1,932,306 | €1,814,419 | -€117,888 | -6.1% |
| Fixed assets | 21/28 | €1,543,936 | €1,553,663 | +€9,727 | +0.6% |
| Tangible fixed assets | 22/27 | €1,543,936 | €1,553,663 | +€9,727 | +0.6% |
| Land and buildings | 22 | €1,490,313 | €1,510,584 | +€20,272 | +1.4% |
| Plant, machinery and equipment | 23 | €0 | €2,156 | +€2,156 | |
| Furniture and vehicles | 24 | €53,623 | €40,923 | -€12,700 | -23.7% |
| Current assets | 29/58 | €388,370 | €260,756 | -€127,615 | -32.9% |
| Amounts receivable within one year | 40/41 | €294,995 | €245,031 | -€49,965 | -16.9% |
| Trade receivables | 40 | €128,072 | €92,057 | -€36,015 | -28.1% |
| Other amounts receivable | 41 | €166,924 | €152,974 | -€13,950 | -8.4% |
| Cash at bank and in hand | 54/58 | €58,698 | €11,102 | -€47,596 | -81.1% |
| Deferred charges and accrued income | 490/1 | €34,677 | €4,623 | -€30,054 | -86.7% |
| Total equity and liabilities | 10/49 | €1,932,306 | €1,814,419 | -€117,888 | -6.1% |
| Equity | 10/15 | €98,292 | €58,512 | -€39,779 | -40.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €78,292 | €38,512 | -€39,779 | -50.8% |
| Distributable reserves | 133 | €78,292 | €38,512 | -€39,779 | -50.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,834,015 | €1,755,906 | -€78,109 | -4.3% |
| Amounts payable after more than one year | 17 | €906,834 | €803,412 | -€103,422 | -11.4% |
| Financial debts | 170/4 | €906,834 | €803,412 | -€103,422 | -11.4% |
| Amounts payable within one year | 42/48 | €927,181 | €952,495 | +€25,313 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €102,028 | €103,422 | +€1,394 | +1.4% |
| Financial debts | 43 | - | €163 | +€163 | |
| Credit institutions | 430/8 | - | €163 | +€163 | |
| Trade debts | 44 | €195,322 | €34,128 | -€161,193 | -82.5% |
| Suppliers | 440/4 | €195,322 | €34,128 | -€161,193 | -82.5% |
| Taxes, remuneration and social security | 45 | €39,371 | €12,228 | -€27,143 | -68.9% |
| Taxes | 450/3 | €39,371 | €12,228 | -€27,143 | -68.9% |
| Other amounts payable | 47/48 | €590,461 | €802,554 | +€212,092 | +35.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €95 | +€95 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,339 | €57,585 | +€4,245 | +8.0% |
| Other operating charges | 640/8 | €291,428 | €118,161 | -€173,267 | -59.5% |
| Non-recurring operating charges | 66A | €114,521 | €0 | -€114,521 | -100% |
| Gross operating margin | 9900 | €500,665 | €167,786 | -€332,878 | -66.5% |
| Operating profit (loss) | 9901 | €41,376 | -€7,959 | -€49,335 | |
| Financial income | 75/76B | €0 | €58 | +€58 | +584,000% |
| Recurring financial income | 75 | €0 | €58 | +€58 | +584,000% |
| Financial charges | 65/66B | €13,104 | €13,210 | +€106 | +0.8% |
| Recurring financial charges | 65 | €13,104 | €13,210 | +€106 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €28,272 | -€21,110 | -€49,383 | |
| Income taxes | 67/77 | €7,191 | €18,669 | +€11,478 | +160% |
| Profit (loss) for the period | 9904 | €21,082 | -€39,779 | -€60,861 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,082 | -€39,779 | -€60,861 |
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 15 October 2026 via checked.be.