GJK Connexion: 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.
GJK Connexion
Largest movements
- Stocks and contracts +€131,000
new in 2025: €131,000
- Receivables within one year +€96,789
up €96,789 (+685%), from €14,129 to €110,918
of which Trade receivables: +€54,117
- Receivables after one year +€34,500
up €34,500 (+17.8%), from €193,500 to €228,000
- Tangible fixed assets -€18,310
down €18,310 (-26.8%), from €68,350 to €50,039
of which Other tangible fixed assets: -€17,103
- Debts after one year +€235,107
up €235,107 (+1,423%), from €16,525 to €251,632
of which Other amounts payable: +€246,645
- Reserves +€23,657
up €23,657 (+37.9%), from €62,423 to €86,080
- Tax, wage and social debts -€11,568
down €11,568 (-28.7%), from €40,284 to €28,716
- Current portion of long-term debt -€5,843
down €5,843 (-33.6%), from €17,380 to €11,538
- Gross operating margin -€8,548
down €8,548 (-13.2%), from €64,603 to €56,055
- Depreciation -€3,855
down €3,855 (-17.4%), from €22,165 to €18,310
- Taxes -€1,657
down €1,657 (-12.0%), from €13,844 to €12,188
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 | €285,528 | €527,517 | +€241,989 | +84.8% |
| Fixed assets | 21/28 | €68,350 | €50,039 | -€18,310 | -26.8% |
| Tangible fixed assets | 22/27 | €68,350 | €50,039 | -€18,310 | -26.8% |
| Plant, machinery and equipment | 23 | €2,654 | €1,854 | -€800 | -30.1% |
| Furniture and vehicles | 24 | €2,734 | €2,327 | -€407 | -14.9% |
| Other tangible fixed assets | 26 | €62,961 | €45,858 | -€17,103 | -27.2% |
| Current assets | 29/58 | €217,179 | €477,478 | +€260,299 | +120% |
| Amounts receivable after more than one year | 29 | €193,500 | €228,000 | +€34,500 | +17.8% |
| Other amounts receivable | 291 | €193,500 | €228,000 | +€34,500 | +17.8% |
| Stocks and contracts in progress | 3 | - | €131,000 | +€131,000 | |
| Stocks | 30/36 | - | €131,000 | +€131,000 | |
| Amounts receivable within one year | 40/41 | €14,129 | €110,918 | +€96,789 | +685% |
| Trade receivables | 40 | €9,130 | €63,247 | +€54,117 | +593% |
| Other amounts receivable | 41 | €4,999 | €47,671 | +€42,671 | +854% |
| Cash at bank and in hand | 54/58 | €9,127 | €6,708 | -€2,420 | -26.5% |
| Deferred charges and accrued income | 490/1 | €422 | €852 | +€430 | +102% |
| Total equity and liabilities | 10/49 | €285,528 | €527,517 | +€241,989 | +84.8% |
| Equity | 10/15 | €207,179 | €230,836 | +€23,657 | +11.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €62,423 | €86,080 | +€23,657 | +37.9% |
| Distributable reserves | 133 | €62,423 | €86,080 | +€23,657 | +37.9% |
| Profit (loss) carried forward | 14 | €126,156 | €126,156 | = | 0.0% |
| Amounts payable | 17/49 | €78,350 | €296,681 | +€218,332 | +279% |
| Amounts payable after more than one year | 17 | €16,525 | €251,632 | +€235,107 | +1,423% |
| Financial debts | 170/4 | €14,735 | €3,197 | -€11,538 | -78.3% |
| Other amounts payable | 178/9 | €1,790 | €248,435 | +€246,645 | +13,779% |
| Amounts payable within one year | 42/48 | €61,825 | €45,049 | -€16,776 | -27.1% |
| Current portion of amounts payable after more than one year | 42 | €17,380 | €11,538 | -€5,843 | -33.6% |
| Trade debts | 44 | €4,160 | €4,795 | +€635 | +15.3% |
| Suppliers | 440/4 | €4,160 | €4,795 | +€635 | +15.3% |
| Taxes, remuneration and social security | 45 | €40,284 | €28,716 | -€11,568 | -28.7% |
| Taxes | 450/3 | €40,284 | €28,716 | -€11,568 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,165 | €18,310 | -€3,855 | -17.4% |
| Other operating charges | 640/8 | €988 | €1,016 | +€27 | +2.8% |
| Gross operating margin | 9900 | €64,603 | €56,055 | -€8,548 | -13.2% |
| Operating profit (loss) | 9901 | €41,449 | €36,729 | -€4,720 | -11.4% |
| Financial income | 75/76B | €257 | - | -€257 | |
| Recurring financial income | 75 | €257 | - | -€257 | |
| Financial charges | 65/66B | €1,310 | €884 | -€426 | -32.5% |
| Recurring financial charges | 65 | €1,310 | €884 | -€426 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €40,397 | €35,845 | -€4,552 | -11.3% |
| Income taxes | 67/77 | €13,844 | €12,188 | -€1,657 | -12.0% |
| Profit (loss) for the period | 9904 | €26,552 | €23,657 | -€2,895 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,552 | €23,657 | -€2,895 | -10.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.