GJR Group: 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.
GJR Group
Largest movements
- Receivables within one year -€153,280
down €153,280 (-24.7%), from €620,937 to €467,657
of which Trade receivables: -€148,395
- Deferred charges and accrued income -€11,312
no longer reported in 2025 (was €11,312)
- Trade debts -€226,237
down €226,237 (-66.9%), from €338,237 to €112,000
- Short-term financial debts +€78,468
up €78,468 (+45.3%), from €173,388 to €251,856
- Reserves +€40,763
up €40,763 (+66.0%), from €61,782 to €102,545
- Other debts -€28,777
no longer reported in 2025 (was €28,777)
- Tax, wage and social debts -€22,275
down €22,275 (-68.6%), from €32,466 to €10,191
of which Taxes: -€21,049
- Turnover +€529,336
up €529,336 (+32.2%), from €1.6m to €2.2m
- Purchases and services +€476,737
up €476,737 (+30.2%), from €1.6m to €2.1m
- Gross operating margin +€48,008
up €48,008 (+70.7%), from €67,897 to €115,905
- Staff costs +€33,283
up €33,283 (+401%), from €8,292 to €41,575
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 | €640,751 | €481,972 | -€158,779 | -24.8% |
| Fixed assets | 21/28 | €2,702 | €2,301 | -€401 | -14.9% |
| Tangible fixed assets | 22/27 | €648 | €247 | -€401 | -61.9% |
| Furniture and vehicles | 24 | €648 | €247 | -€401 | -61.9% |
| Financial fixed assets | 28 | €2,054 | €2,054 | -€0 | 0.0% |
| Current assets | 29/58 | €638,048 | €479,671 | -€158,377 | -24.8% |
| Amounts receivable within one year | 40/41 | €620,937 | €467,657 | -€153,280 | -24.7% |
| Trade receivables | 40 | €542,223 | €393,828 | -€148,395 | -27.4% |
| Other amounts receivable | 41 | €78,714 | €73,829 | -€4,885 | -6.2% |
| Cash at bank and in hand | 54/58 | €5,800 | €12,014 | +€6,214 | +107% |
| Deferred charges and accrued income | 490/1 | €11,312 | - | -€11,312 | |
| Total equity and liabilities | 10/49 | €640,751 | €481,972 | -€158,779 | -24.8% |
| Equity | 10/15 | €62,282 | €103,045 | +€40,763 | +65.4% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Capital | 10 | - | €500 | +€500 | |
| Issued capital | 100 | - | €500 | +€500 | |
| Reserves | 13 | €61,782 | €102,545 | +€40,763 | +66.0% |
| Distributable reserves | 133 | €61,782 | €102,545 | +€40,763 | +66.0% |
| Amounts payable | 17/49 | €578,469 | €378,927 | -€199,542 | -34.5% |
| Amounts payable within one year | 42/48 | €572,868 | €374,047 | -€198,821 | -34.7% |
| Financial debts | 43 | €173,388 | €251,856 | +€78,468 | +45.3% |
| Credit institutions | 430/8 | €173,388 | €251,856 | +€78,468 | +45.3% |
| Trade debts | 44 | €338,237 | €112,000 | -€226,237 | -66.9% |
| Suppliers | 440/4 | €338,237 | €112,000 | -€226,237 | -66.9% |
| Taxes, remuneration and social security | 45 | €32,466 | €10,191 | -€22,275 | -68.6% |
| Taxes | 450/3 | €31,240 | €10,191 | -€21,049 | -67.4% |
| Remuneration and social security | 454/9 | €1,226 | - | -€1,226 | |
| Other amounts payable | 47/48 | €28,777 | - | -€28,777 | |
| Accrued charges and deferred income | 492/3 | €5,601 | €4,880 | -€721 | -12.9% |
| Turnover | 70 | €1,643,890 | €2,173,226 | +€529,336 | +32.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,580,584 | €2,057,321 | +€476,737 | +30.2% |
| Remuneration, social security and pensions | 62 | €8,292 | €41,575 | +€33,283 | +401% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €526 | €402 | -€124 | -23.6% |
| Other operating charges | 640/8 | €1,352 | - | -€1,352 | |
| Gross operating margin | 9900 | €67,897 | €115,905 | +€48,008 | +70.7% |
| Operating profit (loss) | 9901 | €57,728 | €73,928 | +€16,200 | +28.1% |
| Financial income | 75/76B | €5,032 | €3,376 | -€1,656 | -32.9% |
| Recurring financial income | 75 | €5,032 | €3,376 | -€1,656 | -32.9% |
| Financial charges | 65/66B | €23,534 | €26,350 | +€2,816 | +12.0% |
| Recurring financial charges | 65 | €23,534 | €26,350 | +€2,816 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €39,227 | €50,954 | +€11,727 | +29.9% |
| Income taxes | 67/77 | €12,620 | €10,191 | -€2,429 | -19.3% |
| Profit (loss) for the period | 9904 | €26,606 | €40,763 | +€14,157 | +53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,606 | €40,763 | +€14,157 | +53.2% |
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 30 October 2026 via checked.be.