JOE & GILLES: what changed
What changed
JOE & GILLES
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€93,201
2024 · -€36,953+€130,154
Equity
€46,975
2024 · -€46,226+€93,201
Cash
€252,994
2024 · €608+€252,386
Balance sheet total
€1.9m
2024 · €1.6m+€248,107
Largest movements
Assets
- Cash +€252,386
up €252,386 (+41,499%), from €608 to €252,994
mainly Other debts (+€227,475) and Net result for the year (+€93,201)
- Current investments +€70,368
new in 2025: €70,368
- Tangible fixed assets -€65,432
down €65,432 (-4.0%), from €1.6m to €1.6m
of which Land and buildings: -€48,499
Equity and liabilities
- Other debts +€227,475
up €227,475 (+24.9%), from €911,748 to €1.1m
- Profit (loss) carried forward +€93,201
up €93,201 (+76.9%), from -€121,226 to -€28,025
- Debts after one year -€60,865
down €60,865 (-8.7%), from €700,149 to €639,284
Income statement
- Gross operating margin +€131,992
up €131,992 (+251%), from €52,514 to €184,505
- Depreciation +€5,145
up €5,145 (+8.3%), from €61,778 to €66,923
- Financial charges -€3,984
down €3,984 (-17.2%), from €23,177 to €19,194
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€36,953
Gross operating margin
+€131,992
Depreciation
-€5,145
Other operating charges
-€338
Financial income
-€322
Financial charges
+€3,984
Taxes
-€17
Result 2025
€93,201
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€384,389
Investment
-€71,859
Financing
-€60,145
Cash 2024
€608
From operations (derived)
+€384,389
Net result for the year
+€93,201
Depreciation
+€66,923
Receivables within one year
+€9,263
Smaller working-capital items
-€31
Trade debts
-€12,442
Other debts
+€227,475
Investment (derived)
-€71,859
Investment in fixed assets (net)
-€1,491
Current investments
-€70,368
Financing
-€60,145
Debts after one year
-€60,865
Current portion of long-term debt
+€720
Cash 2025
€252,994
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,638,810 | €1,886,917 | +€248,107 | +15.1% |
| Fixed assets | 21/28 | €1,616,886 | €1,551,454 | -€65,432 | -4.0% |
| Tangible fixed assets | 22/27 | €1,616,886 | €1,551,454 | -€65,432 | -4.0% |
| Land and buildings | 22 | €1,430,622 | €1,382,123 | -€48,499 | -3.4% |
| Plant, machinery and equipment | 23 | €186,264 | €169,331 | -€16,933 | -9.1% |
| Current assets | 29/58 | €21,924 | €335,463 | +€313,539 | +1,430% |
| Amounts receivable within one year | 40/41 | €20,479 | €11,216 | -€9,263 | -45.2% |
| Trade receivables | 40 | €363 | €1,748 | +€1,385 | +382% |
| Other amounts receivable | 41 | €20,116 | €9,468 | -€10,649 | -52.9% |
| Current investments | 50/53 | - | €70,368 | +€70,368 | |
| Cash at bank and in hand | 54/58 | €608 | €252,994 | +€252,386 | +41,499% |
| Deferred charges and accrued income | 490/1 | €836 | €885 | +€49 | +5.8% |
| Total equity and liabilities | 10/49 | €1,638,810 | €1,886,917 | +€248,107 | +15.1% |
| Equity | 10/15 | -€46,226 | €46,975 | +€93,201 | |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€121,226 | -€28,025 | +€93,201 | +76.9% |
| Amounts payable | 17/49 | €1,685,036 | €1,839,942 | +€154,906 | +9.2% |
| Amounts payable after more than one year | 17 | €700,149 | €639,284 | -€60,865 | -8.7% |
| Financial debts | 170/4 | €700,149 | €639,284 | -€60,865 | -8.7% |
| Amounts payable within one year | 42/48 | €984,887 | €1,200,658 | +€215,771 | +21.9% |
| Current portion of amounts payable after more than one year | 42 | €60,212 | €60,933 | +€720 | +1.2% |
| Trade debts | 44 | €12,872 | €430 | -€12,442 | -96.7% |
| Suppliers | 440/4 | €12,872 | €430 | -€12,442 | -96.7% |
| Taxes, remuneration and social security | 45 | €54 | €72 | +€18 | +32.6% |
| Taxes | 450/3 | €54 | €72 | +€18 | +32.6% |
| Other amounts payable | 47/48 | €911,748 | €1,139,223 | +€227,475 | +24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,778 | €66,923 | +€5,145 | +8.3% |
| Other operating charges | 640/8 | €4,957 | €5,295 | +€338 | +6.8% |
| Gross operating margin | 9900 | €52,514 | €184,505 | +€131,992 | +251% |
| Operating profit (loss) | 9901 | -€14,222 | €112,287 | +€126,509 | |
| Financial income | 75/76B | €500 | €178 | -€322 | -64.3% |
| Recurring financial income | 75 | €500 | €178 | -€322 | -64.3% |
| Financial charges | 65/66B | €23,177 | €19,194 | -€3,984 | -17.2% |
| Recurring financial charges | 65 | €23,177 | €19,194 | -€3,984 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | -€36,899 | €93,272 | +€130,171 | |
| Income taxes | 67/77 | €54 | €71 | +€17 | +31.1% |
| Profit (loss) for the period | 9904 | -€36,953 | €93,201 | +€130,154 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,953 | €93,201 | +€130,154 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.