JG SQUARE: 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 SQUARE
Largest movements
- Tangible fixed assets +€131,011
up €131,011 (+1,274%), from €10,284 to €141,295
of which Land and buildings: +€77,078
- Cash -€12,003
down €12,003 (-20.9%), from €57,406 to €45,403
mainly Investment in fixed assets (net) (-€140,587) and Other debts (-€132,000)
- Receivables within one year +€6,487
up €6,487 (+5.5%), from €117,955 to €124,442
of which Trade receivables: +€29,214
- Deferred charges and accrued income +€3,983
new in 2025: €3,983
- Other debts -€132,000
down €132,000 (-100%), from €132,000 to €0
- Profit (loss) carried forward +€123,343
up €123,343 (+56,106%), from €220 to €123,563
- Debts after one year +€112,713
new in 2025: €112,713
- Trade debts +€18,068
up €18,068 (+172%), from €10,498 to €28,566
- Current portion of long-term debt +€4,095
up €4,095 (+40.3%), from €10,154 to €14,249
- Other operating charges +€11,081
up €11,081 (+812%), from €1,365 to €12,445
- Gross operating margin +€11,048
up €11,048 (+6.2%), from €176,785 to €187,834
- Depreciation +€6,335
up €6,335 (+195%), from €3,241 to €9,576
- Financial charges +€5,910
up €5,910 (+163%), from €3,629 to €9,539
- Taxes -€4,894
down €4,894 (-12.1%), from €40,300 to €35,406
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 | €185,644 | €315,122 | +€129,478 | +69.7% |
| Fixed assets | 21/28 | €10,284 | €141,295 | +€131,011 | +1,274% |
| Tangible fixed assets | 22/27 | €10,284 | €141,295 | +€131,011 | +1,274% |
| Land and buildings | 22 | - | €77,078 | +€77,078 | |
| Plant, machinery and equipment | 23 | €462 | €3,458 | +€2,995 | +648% |
| Furniture and vehicles | 24 | €9,821 | €15,478 | +€5,656 | +57.6% |
| Other tangible fixed assets | 26 | - | €45,281 | +€45,281 | |
| Current assets | 29/58 | €175,361 | €173,828 | -€1,533 | -0.9% |
| Amounts receivable within one year | 40/41 | €117,955 | €124,442 | +€6,487 | +5.5% |
| Trade receivables | 40 | €61,034 | €90,249 | +€29,214 | +47.9% |
| Other amounts receivable | 41 | €56,921 | €34,193 | -€22,728 | -39.9% |
| Cash at bank and in hand | 54/58 | €57,406 | €45,403 | -€12,003 | -20.9% |
| Deferred charges and accrued income | 490/1 | - | €3,983 | +€3,983 | |
| Total equity and liabilities | 10/49 | €185,644 | €315,122 | +€129,478 | +69.7% |
| Equity | 10/15 | €19,306 | €142,650 | +€123,343 | +639% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €487 | €487 | = | 0.0% |
| Non-distributable reserves | 130/1 | €487 | €487 | = | 0.0% |
| Reserves not available under the articles | 1311 | €487 | €487 | = | 0.0% |
| Profit (loss) carried forward | 14 | €220 | €123,563 | +€123,343 | +56,106% |
| Amounts payable | 17/49 | €166,338 | €172,473 | +€6,135 | +3.7% |
| Amounts payable after more than one year | 17 | - | €112,713 | +€112,713 | |
| Financial debts | 170/4 | - | €112,713 | +€112,713 | |
| Amounts payable within one year | 42/48 | €166,258 | €57,617 | -€108,641 | -65.3% |
| Current portion of amounts payable after more than one year | 42 | €10,154 | €14,249 | +€4,095 | +40.3% |
| Trade debts | 44 | €10,498 | €28,566 | +€18,068 | +172% |
| Suppliers | 440/4 | €10,498 | €28,566 | +€18,068 | +172% |
| Taxes, remuneration and social security | 45 | €13,606 | €14,802 | +€1,196 | +8.8% |
| Taxes | 450/3 | €13,606 | €14,802 | +€1,196 | +8.8% |
| Other amounts payable | 47/48 | €132,000 | €0 | -€132,000 | -100% |
| Accrued charges and deferred income | 492/3 | €80 | €2,143 | +€2,063 | +2,589% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,241 | €9,576 | +€6,335 | +195% |
| Other operating charges | 640/8 | €1,365 | €12,445 | +€11,081 | +812% |
| Gross operating margin | 9900 | €176,785 | €187,834 | +€11,048 | +6.2% |
| Operating profit (loss) | 9901 | €172,180 | €165,813 | -€6,367 | -3.7% |
| Financial income | 75/76B | €3,793 | €2,475 | -€1,319 | -34.8% |
| Recurring financial income | 75 | €3,793 | €2,475 | -€1,319 | -34.8% |
| Financial charges | 65/66B | €3,629 | €9,539 | +€5,910 | +163% |
| Recurring financial charges | 65 | €3,629 | €9,539 | +€5,910 | +163% |
| Profit (loss) for the period before taxes | 9903 | €172,344 | €158,749 | -€13,595 | -7.9% |
| Income taxes | 67/77 | €40,300 | €35,406 | -€4,894 | -12.1% |
| Profit (loss) for the period | 9904 | €132,044 | €123,343 | -€8,701 | -6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €132,044 | €123,343 | -€8,701 | -6.6% |
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 15 October 2026 via checked.be.