GREGORY JURION: 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.
GREGORY JURION
Largest movements
- Receivables within one year +€117,080
up €117,080 (+67.6%), from €173,218 to €290,298
of which Trade receivables: +€116,994
- Reserves +€373,378
up €373,378 (+31.5%), from €1.2m to €1.6m
- Debts after one year -€279,069
down €279,069 (-36.0%), from €774,722 to €495,653
of which Other amounts payable: -€275,192
- Tax, wage and social debts +€71,054
up €71,054 (+81.7%), from €86,984 to €158,038
- Current portion of long-term debt -€42,073
down €42,073 (-19.4%), from €216,949 to €174,877
- Gross operating margin +€200,062
up €200,062 (+56.0%), from €357,178 to €557,240
- Taxes +€69,012
up €69,012 (+59.4%), from €116,116 to €185,128
- Financial income +€10,355
up €10,355 (+150.1%), from €6,901 to €17,255
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 | €2,284,306 | €2,405,172 | +€120,866 | +5.3% |
| Fixed assets | 21/28 | €1,681,674 | €1,683,543 | +€1,869 | +0.1% |
| Tangible fixed assets | 22/27 | €16,589 | €18,543 | +€1,955 | +11.8% |
| Plant, machinery and equipment | 23 | €1,769 | €1,609 | -€161 | -9.1% |
| Furniture and vehicles | 24 | €9,458 | €11,806 | +€2,348 | +24.8% |
| Other tangible fixed assets | 26 | €5,362 | €5,129 | -€233 | -4.3% |
| Financial fixed assets | 28 | €1,665,085 | €1,665,000 | -€85 | 0.0% |
| Current assets | 29/58 | €602,632 | €721,629 | +€118,997 | +19.7% |
| Amounts receivable after more than one year | 29 | €190,000 | €190,000 | = | 0.0% |
| Other amounts receivable | 291 | €190,000 | €190,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €173,218 | €290,298 | +€117,080 | +67.6% |
| Trade receivables | 40 | €172,854 | €289,848 | +€116,994 | +67.7% |
| Other amounts receivable | 41 | €364 | €449 | +€85 | +23.5% |
| Cash at bank and in hand | 54/58 | €205,054 | €199,024 | -€6,030 | -2.9% |
| Deferred charges and accrued income | 490/1 | €34,360 | €42,307 | +€7,947 | +23.1% |
| Total equity and liabilities | 10/49 | €2,284,306 | €2,405,172 | +€120,866 | +5.3% |
| Equity | 10/15 | €1,196,969 | €1,570,068 | +€373,099 | +31.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,184,290 | €1,557,668 | +€373,378 | +31.5% |
| Distributable reserves | 133 | €1,184,290 | €1,557,668 | +€373,378 | +31.5% |
| Profit (loss) carried forward | 14 | €279 | - | -€279 | |
| Amounts payable | 17/49 | €1,087,337 | €835,104 | -€252,233 | -23.2% |
| Amounts payable after more than one year | 17 | €774,722 | €495,653 | -€279,069 | -36.0% |
| Financial debts | 170/4 | €3,877 | - | -€3,877 | |
| Other amounts payable | 178/9 | €770,845 | €495,653 | -€275,192 | -35.7% |
| Amounts payable within one year | 42/48 | €312,614 | €339,451 | +€26,836 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €216,949 | €174,877 | -€42,073 | -19.4% |
| Trade debts | 44 | €7,822 | €5,703 | -€2,119 | -27.1% |
| Suppliers | 440/4 | €7,822 | €5,703 | -€2,119 | -27.1% |
| Taxes, remuneration and social security | 45 | €86,984 | €158,038 | +€71,054 | +81.7% |
| Taxes | 450/3 | €86,984 | €158,038 | +€71,054 | +81.7% |
| Other amounts payable | 47/48 | €859 | €833 | -€26 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,519 | €3,045 | +€526 | +20.9% |
| Other operating charges | 640/8 | €7,180 | €2,300 | -€4,880 | -68.0% |
| Non-recurring operating charges | 66A | €1,080 | €796 | -€283 | -26.2% |
| Gross operating margin | 9900 | €357,178 | €557,240 | +€200,062 | +56.0% |
| Operating profit (loss) | 9901 | €346,399 | €551,098 | +€204,699 | +59.1% |
| Financial income | 75/76B | €6,901 | €17,255 | +€10,355 | +150.1% |
| Recurring financial income | 75 | €6,901 | €17,255 | +€10,355 | +150.1% |
| Financial charges | 65/66B | €10,456 | €9,294 | -€1,163 | -11.1% |
| Recurring financial charges | 65 | €10,456 | €9,294 | -€1,163 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €342,843 | €559,060 | +€216,217 | +63.1% |
| Income taxes | 67/77 | €116,116 | €185,128 | +€69,012 | +59.4% |
| Profit (loss) for the period | 9904 | €226,727 | €373,932 | +€147,205 | +64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €226,727 | €373,932 | +€147,205 | +64.9% |
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 7 October 2026 via checked.be.