GJK: 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.
GJK
Largest movements
- Cash +€7,127
up €7,127 (+23.5%), from €30,346 to €37,474
mainly Depreciation (+€47,631) and Net result for the year (+€9,056)
- Tangible fixed assets -€3,594
down €3,594 (-2.6%), from €136,842 to €133,249
of which Plant, machinery and equipment: -€22,043
- Deferred charges and accrued income +€2,786
up €2,786 (+148.7%), from €1,873 to €4,659
- Receivables within one year +€2,455
up €2,455 (+12.8%), from €19,239 to €21,694
of which Trade receivables: +€3,629
- Debts after one year -€16,424
down €16,424 (-24.4%), from €67,372 to €50,948
- Current portion of long-term debt +€8,802
up €8,802 (+26.5%), from €33,194 to €41,996
- Reserves +€8,223
up €8,223 (+24.5%), from €33,565 to €41,788
- Trade debts +€6,713
up €6,713 (+64.5%), from €10,410 to €17,123
- Gross operating margin +€10,197
up €10,197 (+17.2%), from €59,192 to €69,389
- Depreciation +€9,237
up €9,237 (+24.1%), from €38,394 to €47,631
- Other operating charges +€1,832
up €1,832 (+117.7%), from €1,556 to €3,387
- Financial charges -€863
down €863 (-10.6%), from €8,165 to €7,302
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 | €188,300 | €197,075 | +€8,775 | +4.7% |
| Fixed assets | 21/28 | €136,842 | €133,249 | -€3,594 | -2.6% |
| Tangible fixed assets | 22/27 | €136,842 | €133,249 | -€3,594 | -2.6% |
| Plant, machinery and equipment | 23 | €83,815 | €61,772 | -€22,043 | -26.3% |
| Furniture and vehicles | 24 | €53,027 | €71,477 | +€18,450 | +34.8% |
| Current assets | 29/58 | €51,458 | €63,826 | +€12,368 | +24.0% |
| Amounts receivable within one year | 40/41 | €19,239 | €21,694 | +€2,455 | +12.8% |
| Trade receivables | 40 | €17,702 | €21,331 | +€3,629 | +20.5% |
| Other amounts receivable | 41 | €1,537 | €363 | -€1,174 | -76.4% |
| Cash at bank and in hand | 54/58 | €30,346 | €37,474 | +€7,127 | +23.5% |
| Deferred charges and accrued income | 490/1 | €1,873 | €4,659 | +€2,786 | +148.7% |
| Total equity and liabilities | 10/49 | €188,300 | €197,075 | +€8,775 | +4.7% |
| Equity | 10/15 | €38,565 | €46,788 | +€8,223 | +21.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €33,565 | €41,788 | +€8,223 | +24.5% |
| Distributable reserves | 133 | €33,565 | €41,788 | +€8,223 | +24.5% |
| Amounts payable | 17/49 | €149,735 | €150,287 | +€552 | +0.4% |
| Amounts payable after more than one year | 17 | €67,372 | €50,948 | -€16,424 | -24.4% |
| Financial debts | 170/4 | €67,372 | €50,948 | -€16,424 | -24.4% |
| Amounts payable within one year | 42/48 | €82,364 | €99,340 | +€16,976 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €33,194 | €41,996 | +€8,802 | +26.5% |
| Trade debts | 44 | €10,410 | €17,123 | +€6,713 | +64.5% |
| Suppliers | 440/4 | €10,410 | €17,123 | +€6,713 | +64.5% |
| Taxes, remuneration and social security | 45 | €5,210 | €6,221 | +€1,011 | +19.4% |
| Taxes | 450/3 | €3,210 | €6,221 | +€3,011 | +93.8% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €33,550 | €34,000 | +€450 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,394 | €47,631 | +€9,237 | +24.1% |
| Other operating charges | 640/8 | €1,556 | €3,387 | +€1,832 | +117.7% |
| Gross operating margin | 9900 | €59,192 | €69,389 | +€10,197 | +17.2% |
| Operating profit (loss) | 9901 | €19,243 | €18,371 | -€872 | -4.5% |
| Financial income | 75/76B | €371 | €634 | +€263 | +70.9% |
| Recurring financial income | 75 | €371 | €634 | +€263 | +70.9% |
| Financial charges | 65/66B | €8,165 | €7,302 | -€863 | -10.6% |
| Recurring financial charges | 65 | €8,165 | €7,302 | -€863 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €11,449 | €11,703 | +€254 | +2.2% |
| Income taxes | 67/77 | €2,224 | €2,648 | +€424 | +19.0% |
| Profit (loss) for the period | 9904 | €9,225 | €9,056 | -€170 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,225 | €9,056 | -€170 | -1.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.