GJC: what changed
Two fiscal 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.
GJC
Largest movements
- Cash -€545,216
down €545,216 (-97.1%), from €561,295 to €16,079
mainly Current investments (-€485,000) and Investment in fixed assets (net) (-€272,623)
- Current investments +€485,000
new in 2025: €485,000
- Tangible fixed assets +€236,931
up €236,931 (+43.0%), from €550,375 to €787,306
of which Land and buildings: +€239,004
- Receivables within one year +€56,203
up €56,203 (+24.4%), from €230,581 to €286,784
of which Trade receivables: +€57,878
- Debts after one year +€87,486
up €87,486 (+45.0%), from €194,214 to €281,700
- Other debts +€86,677
up €86,677 (+1413.7%), from €6,131 to €92,808
- Reserves +€31,532
up €31,532 (+3.0%), from €1.1m to €1.1m
of which Distributable reserves: +€33,707
- Depreciation +€17,040
up €17,040 (+50.5%), from €33,728 to €50,768
- Gross operating margin +€11,392
up €11,392 (+3.9%), from €291,536 to €302,928
- Other operating charges -€6,666
down €6,666 (-41.3%), from €16,130 to €9,464
- Financial charges +€4,060
up €4,060 (+71.8%), from €5,651 to €9,711
- Taxes -€3,331
down €3,331 (-4.2%), from €79,303 to €75,972
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 | €1,360,543 | €1,580,247 | +€219,705 | +16.1% |
| Fixed assets | 21/28 | €567,650 | €789,506 | +€221,855 | +39.1% |
| Tangible fixed assets | 22/27 | €550,375 | €787,306 | +€236,931 | +43.0% |
| Land and buildings | 22 | €531,495 | €770,499 | +€239,004 | +45.0% |
| Plant, machinery and equipment | 23 | - | €922 | +€922 | |
| Furniture and vehicles | 24 | €18,880 | €15,885 | -€2,995 | -15.9% |
| Financial fixed assets | 28 | €17,276 | €2,200 | -€15,076 | -87.3% |
| Current assets | 29/58 | €792,892 | €790,742 | -€2,151 | -0.3% |
| Amounts receivable within one year | 40/41 | €230,581 | €286,784 | +€56,203 | +24.4% |
| Trade receivables | 40 | €226,430 | €284,308 | +€57,878 | +25.6% |
| Other amounts receivable | 41 | €4,150 | €2,475 | -€1,675 | -40.4% |
| Current investments | 50/53 | - | €485,000 | +€485,000 | |
| Cash at bank and in hand | 54/58 | €561,295 | €16,079 | -€545,216 | -97.1% |
| Deferred charges and accrued income | 490/1 | €1,017 | €2,880 | +€1,863 | +183.2% |
| Total equity and liabilities | 10/49 | €1,360,543 | €1,580,247 | +€219,705 | +16.1% |
| Equity | 10/15 | €1,083,265 | €1,114,798 | +€31,532 | +2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,064,665 | €1,096,198 | +€31,532 | +3.0% |
| Tax-exempt reserves | 132 | €35,102 | €32,928 | -€2,175 | -6.2% |
| Distributable reserves | 133 | €1,029,563 | €1,063,270 | +€33,707 | +3.3% |
| Provisions and deferred taxes | 16 | €8,776 | €8,232 | -€544 | -6.2% |
| Deferred taxes | 168 | €8,776 | €8,232 | -€544 | -6.2% |
| Amounts payable | 17/49 | €268,502 | €457,218 | +€188,716 | +70.3% |
| Amounts payable after more than one year | 17 | €194,214 | €281,700 | +€87,486 | +45.0% |
| Financial debts | 170/4 | €194,214 | €281,700 | +€87,486 | +45.0% |
| Amounts payable within one year | 42/48 | €73,470 | €170,824 | +€97,353 | +132.5% |
| Current portion of amounts payable after more than one year | 42 | €51,475 | €61,175 | +€9,700 | +18.8% |
| Financial debts | 43 | - | €8 | +€8 | |
| Credit institutions | 430/8 | - | €8 | +€8 | |
| Trade debts | 44 | €2,316 | €2,089 | -€226 | -9.8% |
| Suppliers | 440/4 | €2,316 | €2,089 | -€226 | -9.8% |
| Advances received on contracts in progress | 46 | €1,150 | - | -€1,150 | |
| Taxes, remuneration and social security | 45 | €12,399 | €14,743 | +€2,345 | +18.9% |
| Taxes | 450/3 | €12,399 | €14,743 | +€2,345 | +18.9% |
| Other amounts payable | 47/48 | €6,131 | €92,808 | +€86,677 | +1413.7% |
| Accrued charges and deferred income | 492/3 | €817 | €4,694 | +€3,877 | +474.3% |
| Non-recurring operating income | 76A | - | €27,772 | +€27,772 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,728 | €50,768 | +€17,040 | +50.5% |
| Other operating charges | 640/8 | €16,130 | €9,464 | -€6,666 | -41.3% |
| Gross operating margin | 9900 | €291,536 | €302,928 | +€11,392 | +3.9% |
| Operating profit (loss) | 9901 | €241,678 | €242,696 | +€1,018 | +0.4% |
| Financial income | 75/76B | €12,305 | €11,788 | -€517 | -4.2% |
| Recurring financial income | 75 | €12,305 | €11,788 | -€517 | -4.2% |
| Financial charges | 65/66B | €5,651 | €9,711 | +€4,060 | +71.8% |
| Recurring financial charges | 65 | €5,651 | €9,711 | +€4,060 | +71.8% |
| Profit (loss) for the period before taxes | 9903 | €248,332 | €244,773 | -€3,558 | -1.4% |
| Transfer from deferred taxes | 780 | €466 | €544 | +€77 | +16.6% |
| Income taxes | 67/77 | €79,303 | €75,972 | -€3,331 | -4.2% |
| Profit (loss) for the period | 9904 | €169,495 | €169,345 | -€150 | -0.1% |
| Transfer from tax-exempt reserves | 789 | €1,865 | €2,175 | +€310 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €171,360 | €171,520 | +€160 | +0.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.