J & G PROJECTS: 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.
What changed
J & G PROJECTS
NACE 47.554, Retail trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€37,978
2024 · €26,488+€11,490
Equity
€392,627
2024 · €356,315+€36,312
Cash
€138,204
2024 · €133,823+€4,381
Balance sheet total
€735,483
2024 · €739,965-€4,482
Largest movements
Assets
- Deferred charges and accrued income -€13,535
down €13,535 (-86.8%), from €15,588 to €2,053
Equity and liabilities
- Debts after one year -€22,306
down €22,306 (-8.4%), from €264,069 to €241,763
of which Financial debts: -€22,306
- Profit (loss) carried forward +€21,312
up €21,312 (+12.4%), from €171,252 to €192,564
- Advances received -€16,940
down €16,940 (-100.0%), from €16,940 to €0
- Reserves +€15,000
up €15,000 (+9.0%), from €166,513 to €181,513
of which Distributable reserves: +€15,000
- Other debts -€11,759
down €11,759 (-41.0%), from €28,668 to €16,909
Income statement
- Gross operating margin +€22,189
up €22,189 (+23.5%), from €94,443 to €116,632
- Other operating charges +€4,127
up €4,127 (+140.7%), from €2,934 to €7,062
- Taxes +€3,896
up €3,896 (+29.3%), from €13,314 to €17,210
- Depreciation +€3,585
up €3,585 (+19.5%), from €18,357 to €21,942
- Financial charges -€2,734
down €2,734 (-19.0%), from €14,391 to €11,658
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.
Result 2024
€26,488
Gross operating margin
+€22,189
Staff costs
-€1,855
Depreciation
-€3,585
Other operating charges
-€4,127
Financial income
+€31
Financial charges
+€2,734
Taxes
-€3,896
Result 2025
€37,978
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.
From operations
+€46,460
Investment
-€25,765
Financing
-€16,315
Cash 2024
€133,823
From operations (derived)
+€46,460
Net result for the year
+€37,978
Depreciation
+€21,942
Receivables after one year
+€2,919
Stocks and contracts
-€5,982
Receivables within one year
+€2,214
Deferred charges and accrued income
+€13,535
Trade debts
-€859
Tax, wage and social debts
+€3,464
Advances received
-€16,940
Other debts
-€11,759
Accrued charges and deferred income
-€52
Investment (derived)
-€25,765
Investment in fixed assets (net)
-€25,765
Financing
-€16,315
Debts after one year
-€22,306
Current portion of long-term debt
+€7,657
Contributions, distributions and other
-€1,666
Cash 2025
€138,204
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €739,965 | €735,483 | -€4,482 | -0.6% |
| Fixed assets | 21/28 | €502,535 | €506,359 | +€3,823 | +0.8% |
| Tangible fixed assets | 22/27 | €431,725 | €435,548 | +€3,823 | +0.9% |
| Land and buildings | 22 | €414,048 | €402,565 | -€11,483 | -2.8% |
| Plant, machinery and equipment | 23 | €10,027 | €6,247 | -€3,780 | -37.7% |
| Furniture and vehicles | 24 | €7,650 | €26,736 | +€19,086 | +249.5% |
| Financial fixed assets | 28 | €70,811 | €70,811 | = | 0.0% |
| Current assets | 29/58 | €237,430 | €229,125 | -€8,305 | -3.5% |
| Amounts receivable after more than one year | 29 | €2,919 | €0 | -€2,919 | -100.0% |
| Trade receivables | 290 | €2,919 | - | -€2,919 | |
| Other amounts receivable | 291 | - | €0 | = | |
| Stocks and contracts in progress | 3 | €76,028 | €82,009 | +€5,982 | +7.9% |
| Stocks | 30/36 | €76,028 | €82,009 | +€5,982 | +7.9% |
| Amounts receivable within one year | 40/41 | €9,072 | €6,858 | -€2,214 | -24.4% |
| Trade receivables | 40 | €1,210 | €1,210 | = | 0.0% |
| Other amounts receivable | 41 | €7,862 | €5,648 | -€2,214 | -28.2% |
| Cash at bank and in hand | 54/58 | €133,823 | €138,204 | +€4,381 | +3.3% |
| Deferred charges and accrued income | 490/1 | €15,588 | €2,053 | -€13,535 | -86.8% |
| Total equity and liabilities | 10/49 | €739,965 | €735,483 | -€4,482 | -0.6% |
| Equity | 10/15 | €356,315 | €392,627 | +€36,312 | +10.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €166,513 | €181,513 | +€15,000 | +9.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €147,763 | €162,763 | +€15,000 | +10.2% |
| Profit (loss) carried forward | 14 | €171,252 | €192,564 | +€21,312 | +12.4% |
| Amounts payable | 17/49 | €383,650 | €342,856 | -€40,794 | -10.6% |
| Amounts payable after more than one year | 17 | €264,069 | €241,763 | -€22,306 | -8.4% |
| Financial debts | 170/4 | €244,069 | €221,763 | -€22,306 | -9.1% |
| Other amounts payable | 178/9 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €119,529 | €101,093 | -€18,436 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €45,617 | €53,275 | +€7,657 | +16.8% |
| Trade debts | 44 | €11,644 | €10,785 | -€859 | -7.4% |
| Suppliers | 440/4 | €11,644 | €10,785 | -€859 | -7.4% |
| Advances received on contracts in progress | 46 | €16,940 | €0 | -€16,940 | -100.0% |
| Taxes, remuneration and social security | 45 | €16,660 | €20,124 | +€3,464 | +20.8% |
| Taxes | 450/3 | €9,459 | €12,785 | +€3,326 | +35.2% |
| Remuneration and social security | 454/9 | €7,201 | €7,339 | +€138 | +1.9% |
| Other amounts payable | 47/48 | €28,668 | €16,909 | -€11,759 | -41.0% |
| Accrued charges and deferred income | 492/3 | €52 | €0 | -€52 | -100.0% |
| Non-recurring operating income | 76A | €2,763 | €0 | -€2,763 | -100.0% |
| Remuneration, social security and pensions | 62 | €20,476 | €22,331 | +€1,855 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,357 | €21,942 | +€3,585 | +19.5% |
| Other operating charges | 640/8 | €2,934 | €7,062 | +€4,127 | +140.7% |
| Gross operating margin | 9900 | €94,443 | €116,632 | +€22,189 | +23.5% |
| Operating profit (loss) | 9901 | €52,676 | €65,297 | +€12,622 | +24.0% |
| Financial income | 75/76B | €1,517 | €1,549 | +€31 | +2.1% |
| Recurring financial income | 75 | €1,517 | €1,549 | +€31 | +2.1% |
| Financial charges | 65/66B | €14,391 | €11,658 | -€2,734 | -19.0% |
| Recurring financial charges | 65 | €14,391 | €11,658 | -€2,734 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €39,802 | €55,189 | +€15,387 | +38.7% |
| Income taxes | 67/77 | €13,314 | €17,210 | +€3,896 | +29.3% |
| Profit (loss) for the period | 9904 | €26,488 | €37,978 | +€11,490 | +43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,488 | €37,978 | +€11,490 | +43.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.