J&TGL: 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.
J&TGL
Largest movements
- Current investments +€250,000
up €250,000 (+16.7%), from €1.5m to €1.8m
- Cash -€70,140
down €70,140 (-78.1%), from €89,807 to €19,667
mainly Current investments (-€250,000) and Investment in fixed assets (net) (-€25,564)
- Receivables within one year -€34,337
no longer reported in 2025 (was €34,337)
- Tangible fixed assets +€21,541
up €21,541 (+13.7%), from €156,832 to €178,373
of which Land and buildings: +€22,404
- Reserves +€155,709
up €155,709 (+8.8%), from €1.8m to €1.9m
- Gross operating margin -€282,862
down €282,862 (-59.0%), from €479,496 to €196,634
- Taxes -€88,629
down €88,629 (-56.8%), from €156,012 to €67,384
- Depreciation -€4,795
down €4,795 (-54.4%), from €8,818 to €4,022
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 | €1,801,674 | €1,954,926 | +€153,252 | +8.5% |
| Fixed assets | 21/28 | €156,832 | €178,373 | +€21,541 | +13.7% |
| Tangible fixed assets | 22/27 | €156,832 | €178,373 | +€21,541 | +13.7% |
| Land and buildings | 22 | €152,661 | €175,064 | +€22,404 | +14.7% |
| Plant, machinery and equipment | 23 | €1,820 | €1,423 | -€397 | -21.8% |
| Furniture and vehicles | 24 | €2,351 | €1,886 | -€465 | -19.8% |
| Current assets | 29/58 | €1,644,842 | €1,776,553 | +€131,711 | +8.0% |
| Amounts receivable within one year | 40/41 | €34,337 | - | -€34,337 | |
| Trade receivables | 40 | €34,337 | - | -€34,337 | |
| Current investments | 50/53 | €1,500,000 | €1,750,000 | +€250,000 | +16.7% |
| Cash at bank and in hand | 54/58 | €89,807 | €19,667 | -€70,140 | -78.1% |
| Deferred charges and accrued income | 490/1 | €20,698 | €6,887 | -€13,812 | -66.7% |
| Total equity and liabilities | 10/49 | €1,801,674 | €1,954,926 | +€153,252 | +8.5% |
| Equity | 10/15 | €1,770,407 | €1,926,116 | +€155,709 | +8.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,764,207 | €1,919,916 | +€155,709 | +8.8% |
| Distributable reserves | 133 | €1,764,207 | €1,919,916 | +€155,709 | +8.8% |
| Amounts payable | 17/49 | €31,266 | €28,810 | -€2,457 | -7.9% |
| Amounts payable within one year | 42/48 | €31,266 | €28,788 | -€2,478 | -7.9% |
| Trade debts | 44 | €2,606 | €2,236 | -€369 | -14.2% |
| Suppliers | 440/4 | €2,606 | €2,236 | -€369 | -14.2% |
| Taxes, remuneration and social security | 45 | €27,464 | €25,252 | -€2,212 | -8.1% |
| Taxes | 450/3 | €27,464 | €25,252 | -€2,212 | -8.1% |
| Other amounts payable | 47/48 | €1,197 | €1,300 | +€104 | +8.7% |
| Accrued charges and deferred income | 492/3 | - | €21 | +€21 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,818 | €4,022 | -€4,795 | -54.4% |
| Other operating charges | 640/8 | €1,977 | €2,625 | +€648 | +32.8% |
| Gross operating margin | 9900 | €479,496 | €196,634 | -€282,862 | -59.0% |
| Operating profit (loss) | 9901 | €468,701 | €189,986 | -€278,715 | -59.5% |
| Financial income | 75/76B | €32,217 | €33,354 | +€1,137 | +3.5% |
| Recurring financial income | 75 | €32,217 | €33,354 | +€1,137 | +3.5% |
| Financial charges | 65/66B | €163 | €247 | +€83 | +51.0% |
| Recurring financial charges | 65 | €163 | €247 | +€83 | +51.0% |
| Profit (loss) for the period before taxes | 9903 | €500,754 | €223,093 | -€277,661 | -55.4% |
| Income taxes | 67/77 | €156,012 | €67,384 | -€88,629 | -56.8% |
| Profit (loss) for the period | 9904 | €344,741 | €155,709 | -€189,032 | -54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €344,741 | €155,709 | -€189,032 | -54.8% |
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.