GJ-SAN-CV: what changed
GJ-SAN-CV
Largest movements
- Cash +€26,078
up €26,078 (+45.2%), from €57,678 to €83,756
mainly Other debts (+€131,860) and Net result for the year (+€27,414)
- Receivables within one year -€13,186
down €13,186 (-4.2%), from €316,926 to €303,740
of which Trade receivables: -€30,678
- Other debts +€131,860
new in 2025: €131,860
- Reserves -€111,386
down €111,386 (-29.8%), from €373,975 to €262,589
of which Distributable reserves: -€111,386
- Short-term financial debts -€7,671
no longer reported in 2025 (was €7,671)
- Trade debts -€6,596
down €6,596 (-17.2%), from €38,457 to €31,861
- Tax, wage and social debts +€5,237
up €5,237 (+96.2%), from €5,443 to €10,680
of which Taxes: +€6,940
- Gross operating margin +€43,080
up €43,080 (+73.7%), from €58,448 to €101,528
- Taxes +€10,944
up €10,944 (+395%), from €2,772 to €13,716
- Other operating charges +€7,006
up €7,006 (+488%), from €1,436 to €8,442
- Depreciation -€3,612
down €3,612 (-49.2%), from €7,335 to €3,723
- Staff costs +€1,866
up €1,866 (+3.9%), from €47,621 to €49,487
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €431,746 | €443,190 | +€11,444 | +2.7% |
| Fixed assets | 21/28 | €9,329 | €7,506 | -€1,823 | -19.5% |
| Tangible fixed assets | 22/27 | €9,329 | €7,506 | -€1,823 | -19.5% |
| Plant, machinery and equipment | 23 | €2,980 | €2,390 | -€590 | -19.8% |
| Furniture and vehicles | 24 | €2,461 | €1,753 | -€708 | -28.8% |
| Other tangible fixed assets | 26 | €3,888 | €3,363 | -€525 | -13.5% |
| Current assets | 29/58 | €422,417 | €435,684 | +€13,267 | +3.1% |
| Amounts receivable after more than one year | 29 | €47,000 | €47,000 | = | 0.0% |
| Other amounts receivable | 291 | €47,000 | €47,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €316,926 | €303,740 | -€13,186 | -4.2% |
| Trade receivables | 40 | €71,604 | €40,926 | -€30,678 | -42.8% |
| Other amounts receivable | 41 | €245,322 | €262,814 | +€17,492 | +7.1% |
| Cash at bank and in hand | 54/58 | €57,678 | €83,756 | +€26,078 | +45.2% |
| Deferred charges and accrued income | 490/1 | €813 | €1,188 | +€375 | +46.1% |
| Total equity and liabilities | 10/49 | €431,746 | €443,190 | +€11,444 | +2.7% |
| Equity | 10/15 | €380,175 | €268,789 | -€111,386 | -29.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €373,975 | €262,589 | -€111,386 | -29.8% |
| Tax-exempt reserves | 132 | €268 | €268 | = | 0.0% |
| Distributable reserves | 133 | €373,707 | €262,321 | -€111,386 | -29.8% |
| Amounts payable | 17/49 | €51,571 | €174,401 | +€122,830 | +238% |
| Amounts payable within one year | 42/48 | €51,571 | €174,401 | +€122,830 | +238% |
| Financial debts | 43 | €7,671 | - | -€7,671 | |
| Credit institutions | 430/8 | €7,671 | - | -€7,671 | |
| Trade debts | 44 | €38,457 | €31,861 | -€6,596 | -17.2% |
| Suppliers | 440/4 | €38,457 | €31,861 | -€6,596 | -17.2% |
| Taxes, remuneration and social security | 45 | €5,443 | €10,680 | +€5,237 | +96.2% |
| Taxes | 450/3 | - | €6,940 | +€6,940 | |
| Remuneration and social security | 454/9 | €5,443 | €3,740 | -€1,703 | -31.3% |
| Other amounts payable | 47/48 | - | €131,860 | +€131,860 | |
| Remuneration, social security and pensions | 62 | €47,621 | €49,487 | +€1,866 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,335 | €3,723 | -€3,612 | -49.2% |
| Other operating charges | 640/8 | €1,436 | €8,442 | +€7,006 | +488% |
| Gross operating margin | 9900 | €58,448 | €101,528 | +€43,080 | +73.7% |
| Operating profit (loss) | 9901 | €2,056 | €39,876 | +€37,820 | +1,839% |
| Financial income | 75/76B | €2,152 | €2,141 | -€11 | -0.5% |
| Recurring financial income | 75 | €2,152 | €2,141 | -€11 | -0.5% |
| Financial charges | 65/66B | €1,729 | €887 | -€842 | -48.7% |
| Recurring financial charges | 65 | €1,729 | €887 | -€842 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | €2,479 | €41,130 | +€38,651 | +1,559% |
| Income taxes | 67/77 | €2,772 | €13,716 | +€10,944 | +395% |
| Profit (loss) for the period | 9904 | -€293 | €27,414 | +€27,707 | |
| Profit (loss) for the period to be appropriated | 9905 | -€293 | €27,414 | +€27,707 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.