JGD: 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.
JGD
Largest movements
- Receivables within one year +€202,127
up €202,127 (+1,258%), from €16,073 to €218,200
of which Other amounts receivable: +€189,607
- Cash -€68,003
down €68,003 (-90.6%), from €75,056 to €7,053
mainly Receivables within one year (-€202,127) and Contributions, distributions and other (-€120,000)
- Tangible fixed assets -€50,050
down €50,050 (-88.1%), from €56,793 to €6,742
of which Other tangible fixed assets: -€51,441
- Profit (loss) carried forward +€172,367
up €172,367 (+88.5%), from -€194,696 to -€22,330
- Reserves -€120,000
down €120,000 (-45.5%), from €263,503 to €143,503
of which Distributable reserves: -€120,000
- Other debts +€40,676
up €40,676 (+51.2%), from €79,449 to €120,125
- Debts after one year -€10,657
down €10,657 (-5.2%), from €205,557 to €194,900
- Accrued charges and deferred income -€5,886
down €5,886 (-89.8%), from €6,554 to €668
- Gross operating margin +€177,336
up €177,336 (+603%), from €29,390 to €206,726
- Financial charges -€54,542
down €54,542 (-85.5%), from €63,762 to €9,220
- Taxes +€17,018
up €17,018 (+8,578%), from €198 to €17,216
- Financial income -€14,818
down €14,818 (-98.8%), from €14,999 to €181
- Depreciation -€2,580
down €2,580 (-29.1%), from €8,852 to €6,272
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 | €393,007 | €474,769 | +€81,762 | +20.8% |
| Fixed assets | 21/28 | €298,793 | €248,742 | -€50,050 | -16.8% |
| Tangible fixed assets | 22/27 | €56,793 | €6,742 | -€50,050 | -88.1% |
| Plant, machinery and equipment | 23 | €377 | €0 | -€377 | -100% |
| Furniture and vehicles | 24 | €4,975 | €6,742 | +€1,767 | +35.5% |
| Other tangible fixed assets | 26 | €51,441 | €0 | -€51,441 | -100% |
| Financial fixed assets | 28 | €242,000 | €242,000 | = | 0.0% |
| Current assets | 29/58 | €94,214 | €226,027 | +€131,813 | +140% |
| Amounts receivable within one year | 40/41 | €16,073 | €218,200 | +€202,127 | +1,258% |
| Trade receivables | 40 | €12,000 | €24,520 | +€12,520 | +104% |
| Other amounts receivable | 41 | €4,073 | €193,680 | +€189,607 | +4,655% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €75,056 | €7,053 | -€68,003 | -90.6% |
| Deferred charges and accrued income | 490/1 | €3,085 | €774 | -€2,311 | -74.9% |
| Total equity and liabilities | 10/49 | €393,007 | €474,769 | +€81,762 | +20.8% |
| Equity | 10/15 | €87,357 | €139,723 | +€52,367 | +59.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €263,503 | €143,503 | -€120,000 | -45.5% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €261,648 | €141,648 | -€120,000 | -45.9% |
| Profit (loss) carried forward | 14 | -€194,696 | -€22,330 | +€172,367 | +88.5% |
| Amounts payable | 17/49 | €305,650 | €335,046 | +€29,395 | +9.6% |
| Amounts payable after more than one year | 17 | €205,557 | €194,900 | -€10,657 | -5.2% |
| Financial debts | 170/4 | €205,557 | €194,900 | -€10,657 | -5.2% |
| Amounts payable within one year | 42/48 | €93,540 | €139,478 | +€45,938 | +49.1% |
| Current portion of amounts payable after more than one year | 42 | €10,273 | €10,657 | +€384 | +3.7% |
| Trade debts | 44 | €801 | €758 | -€42 | -5.3% |
| Suppliers | 440/4 | €801 | €758 | -€42 | -5.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,017 | €7,938 | +€4,921 | +163% |
| Taxes | 450/3 | €3,017 | €7,938 | +€4,921 | +163% |
| Other amounts payable | 47/48 | €79,449 | €120,125 | +€40,676 | +51.2% |
| Accrued charges and deferred income | 492/3 | €6,554 | €668 | -€5,886 | -89.8% |
| Non-recurring operating income | 76A | - | €100,392 | +€100,392 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,852 | €6,272 | -€2,580 | -29.1% |
| Other operating charges | 640/8 | €3,331 | €1,832 | -€1,499 | -45.0% |
| Gross operating margin | 9900 | €29,390 | €206,726 | +€177,336 | +603% |
| Operating profit (loss) | 9901 | €17,207 | €198,622 | +€181,415 | +1,054% |
| Financial income | 75/76B | €14,999 | €181 | -€14,818 | -98.8% |
| Recurring financial income | 75 | €14,999 | €181 | -€14,818 | -98.8% |
| Financial charges | 65/66B | €63,762 | €9,220 | -€54,542 | -85.5% |
| Recurring financial charges | 65 | €63,762 | €9,220 | -€54,542 | -85.5% |
| Profit (loss) for the period before taxes | 9903 | -€31,556 | €189,583 | +€221,139 | |
| Income taxes | 67/77 | €198 | €17,216 | +€17,018 | +8,578% |
| Profit (loss) for the period | 9904 | -€31,754 | €172,367 | +€204,121 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,754 | €172,367 | +€204,121 |
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 25 October 2026 via checked.be.