JG PERFORMANCE HORSES: 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.
JG PERFORMANCE HORSES
Largest movements
- Stocks and contracts -€8,000
down €8,000 (-40.0%), from €20,000 to €12,000
- Cash +€5,854
up €5,854 (+24.3%), from €24,069 to €29,924
mainly Depreciation (+€20,814) and Stocks and contracts (+€8,000)
- Receivables within one year +€5,342
up €5,342 (+72.9%), from €7,333 to €12,675
of which Trade receivables: +€4,470
- Intangible fixed assets -€2,000
down €2,000 (-50.0%), from €4,000 to €2,000
- Trade debts -€5,117
down €5,117 (-18.9%), from €27,130 to €22,014
- Tax, wage and social debts +€2,566
up €2,566 (+23.4%), from €10,991 to €13,558
of which Taxes: +€3,966
- Debts after one year +€2,233
up €2,233 (+10.1%), from €22,217 to €24,450
- Accrued charges and deferred income +€2,093
up €2,093 (+103%), from €2,038 to €4,131
- Depreciation +€3,355
up €3,355 (+19.2%), from €17,459 to €20,814
- Gross operating margin -€2,926
down €2,926 (-9.0%), from €32,420 to €29,494
- Taxes -€1,948
down €1,948 (-77.8%), from €2,504 to €556
- Financial charges +€452
up €452 (+10.0%), from €4,512 to €4,964
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 | €179,029 | €181,161 | +€2,133 | +1.2% |
| Fixed assets | 21/28 | €124,606 | €123,042 | -€1,564 | -1.3% |
| Intangible fixed assets | 21 | €4,000 | €2,000 | -€2,000 | -50.0% |
| Tangible fixed assets | 22/27 | €120,606 | €121,042 | +€436 | +0.4% |
| Plant, machinery and equipment | 23 | €11,014 | €22,727 | +€11,713 | +106% |
| Furniture and vehicles | 24 | €40,473 | €29,196 | -€11,277 | -27.9% |
| Other tangible fixed assets | 26 | €69,120 | €69,120 | = | 0.0% |
| Current assets | 29/58 | €54,422 | €58,119 | +€3,697 | +6.8% |
| Stocks and contracts in progress | 3 | €20,000 | €12,000 | -€8,000 | -40.0% |
| Stocks | 30/36 | €20,000 | €12,000 | -€8,000 | -40.0% |
| Amounts receivable within one year | 40/41 | €7,333 | €12,675 | +€5,342 | +72.9% |
| Trade receivables | 40 | €7,261 | €11,731 | +€4,470 | +61.6% |
| Other amounts receivable | 41 | €72 | €944 | +€872 | +1,211% |
| Cash at bank and in hand | 54/58 | €24,069 | €29,924 | +€5,854 | +24.3% |
| Deferred charges and accrued income | 490/1 | €3,020 | €3,520 | +€500 | +16.6% |
| Total equity and liabilities | 10/49 | €179,029 | €181,161 | +€2,133 | +1.2% |
| Equity | 10/15 | €42,222 | €43,503 | +€1,281 | +3.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €27,222 | €28,503 | +€1,281 | +4.7% |
| Distributable reserves | 133 | €27,222 | €28,503 | +€1,281 | +4.7% |
| Amounts payable | 17/49 | €136,806 | €137,658 | +€852 | +0.6% |
| Amounts payable after more than one year | 17 | €22,217 | €24,450 | +€2,233 | +10.1% |
| Financial debts | 170/4 | €22,217 | €24,450 | +€2,233 | +10.1% |
| Amounts payable within one year | 42/48 | €112,551 | €109,077 | -€3,474 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €8,600 | €8,600 | = | 0.0% |
| Trade debts | 44 | €27,130 | €22,014 | -€5,117 | -18.9% |
| Suppliers | 440/4 | €27,130 | €22,014 | -€5,117 | -18.9% |
| Taxes, remuneration and social security | 45 | €10,991 | €13,558 | +€2,566 | +23.4% |
| Taxes | 450/3 | €7,491 | €11,458 | +€3,966 | +52.9% |
| Remuneration and social security | 454/9 | €3,500 | €2,100 | -€1,400 | -40.0% |
| Other amounts payable | 47/48 | €65,830 | €64,906 | -€924 | -1.4% |
| Accrued charges and deferred income | 492/3 | €2,038 | €4,131 | +€2,093 | +103% |
| Non-recurring operating income | 76A | €8,174 | - | -€8,174 | |
| Remuneration, social security and pensions | 62 | €154 | - | -€154 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,459 | €20,814 | +€3,355 | +19.2% |
| Other operating charges | 640/8 | €1,890 | €1,878 | -€12 | -0.6% |
| Gross operating margin | 9900 | €32,420 | €29,494 | -€2,926 | -9.0% |
| Operating profit (loss) | 9901 | €12,916 | €6,801 | -€6,115 | -47.3% |
| Financial income | 75/76B | €17 | €0 | -€17 | -98.9% |
| Recurring financial income | 75 | €17 | €0 | -€17 | -98.9% |
| Financial charges | 65/66B | €4,512 | €4,964 | +€452 | +10.0% |
| Recurring financial charges | 65 | €4,512 | €4,964 | +€452 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €8,421 | €1,837 | -€6,584 | -78.2% |
| Income taxes | 67/77 | €2,504 | €556 | -€1,948 | -77.8% |
| Profit (loss) for the period | 9904 | €5,917 | €1,281 | -€4,636 | -78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,917 | €1,281 | -€4,636 | -78.4% |
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 23 October 2026 via checked.be.