Gregory Joos: 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.
Gregory Joos
Largest movements
- Cash -€158,755
down €158,755 (-46.0%), from €345,039 to €186,284
mainly Contributions, distributions and other (-€1.1m) and Receivables within one year (-€65,464)
- Receivables within one year +€65,464
up €65,464 (+16.5%), from €396,372 to €461,837
of which Trade receivables: +€72,311
- Tangible fixed assets -€11,835
down €11,835 (-3.3%), from €360,021 to €348,185
of which Furniture and vehicles: -€10,807
- Profit (loss) carried forward -€354,549
no longer reported in 2025 (was €354,549)
- Other debts +€351,509
up €351,509 (+82.7%), from €425,000 to €776,509
- Reserves -€97,211
down €97,211 (-45.8%), from €212,447 to €115,236
- Gross operating margin +€163,511
up €163,511 (+24.9%), from €657,203 to €820,715
- Taxes +€42,404
up €42,404 (+27.5%), from €154,465 to €196,869
- Depreciation -€11,798
down €11,798 (-34.2%), from €34,460 to €22,662
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 | €1,104,666 | €999,578 | -€105,088 | -9.5% |
| Fixed assets | 21/28 | €360,021 | €348,185 | -€11,835 | -3.3% |
| Tangible fixed assets | 22/27 | €360,021 | €348,185 | -€11,835 | -3.3% |
| Land and buildings | 22 | €333,307 | €324,399 | -€8,908 | -2.7% |
| Plant, machinery and equipment | 23 | €9,207 | €17,088 | +€7,880 | +85.6% |
| Furniture and vehicles | 24 | €10,807 | - | -€10,807 | |
| Other tangible fixed assets | 26 | €6,699 | €6,699 | = | 0.0% |
| Current assets | 29/58 | €744,645 | €651,392 | -€93,252 | -12.5% |
| Amounts receivable within one year | 40/41 | €396,372 | €461,837 | +€65,464 | +16.5% |
| Trade receivables | 40 | €189,705 | €262,016 | +€72,311 | +38.1% |
| Other amounts receivable | 41 | €206,667 | €199,820 | -€6,847 | -3.3% |
| Cash at bank and in hand | 54/58 | €345,039 | €186,284 | -€158,755 | -46.0% |
| Deferred charges and accrued income | 490/1 | €3,233 | €3,272 | +€38 | +1.2% |
| Total equity and liabilities | 10/49 | €1,104,666 | €999,578 | -€105,088 | -9.5% |
| Equity | 10/15 | €585,545 | €133,786 | -€451,759 | -77.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €212,447 | €115,236 | -€97,211 | -45.8% |
| Distributable reserves | 133 | €212,447 | €115,236 | -€97,211 | -45.8% |
| Profit (loss) carried forward | 14 | €354,549 | - | -€354,549 | |
| Amounts payable | 17/49 | €519,120 | €865,792 | +€346,671 | +66.8% |
| Amounts payable within one year | 42/48 | €519,120 | €865,792 | +€346,671 | +66.8% |
| Trade debts | 44 | €3,674 | €9,650 | +€5,976 | +163% |
| Suppliers | 440/4 | €3,674 | €9,650 | +€5,976 | +163% |
| Taxes, remuneration and social security | 45 | €90,446 | €79,633 | -€10,814 | -12.0% |
| Taxes | 450/3 | €90,446 | €77,285 | -€13,161 | -14.6% |
| Remuneration and social security | 454/9 | - | €2,348 | +€2,348 | |
| Other amounts payable | 47/48 | €425,000 | €776,509 | +€351,509 | +82.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,460 | €22,662 | -€11,798 | -34.2% |
| Other operating charges | 640/8 | €3,620 | €3,862 | +€242 | +6.7% |
| Gross operating margin | 9900 | €657,203 | €820,715 | +€163,511 | +24.9% |
| Operating profit (loss) | 9901 | €619,123 | €794,190 | +€175,067 | +28.3% |
| Financial income | 75/76B | €12,387 | €7,968 | -€4,419 | -35.7% |
| Recurring financial income | 75 | €12,387 | €7,968 | -€4,419 | -35.7% |
| Financial charges | 65/66B | €272 | €273 | +€1 | +0.3% |
| Recurring financial charges | 65 | €272 | €273 | +€1 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €631,238 | €801,885 | +€170,647 | +27.0% |
| Income taxes | 67/77 | €154,465 | €196,869 | +€42,404 | +27.5% |
| Profit (loss) for the period | 9904 | €476,773 | €605,016 | +€128,243 | +26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €476,773 | €605,016 | +€128,243 | +26.9% |
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 16 October 2026 via checked.be.