A.E.M.J.: 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.
A.E.M.J.
Largest movements
- Tangible fixed assets +€103,723
up €103,723 (+111.9%), from €92,662 to €196,385
of which Land and buildings: +€110,000
- Cash -€13,025
down €13,025 (-13.5%), from €96,717 to €83,692
mainly Investment in fixed assets (net) (-€128,113) and Receivables within one year (-€3,470)
- Receivables within one year +€3,470
up €3,470 (+10.2%), from €34,049 to €37,519
of which Other amounts receivable: +€3,729
- Debts after one year +€81,559
up €81,559 (+217.1%), from €37,565 to €119,124
- Current portion of long-term debt +€6,957
up €6,957 (+74.1%), from €9,384 to €16,341
- Reserves +€6,300
up €6,300 (+6.1%), from €103,340 to €109,640
- Other debts +€5,150
up €5,150 (+122.9%), from €4,189 to €9,339
- Gross operating margin +€62,968
up €62,968 (+52.0%), from €121,019 to €183,987
- Staff costs +€57,154
up €57,154 (+83.0%), from €68,821 to €125,975
- Other operating charges +€19,289
up €19,289 (+1191.5%), from €1,619 to €20,908
- Depreciation +€11,854
up €11,854 (+94.6%), from €12,536 to €24,390
- Taxes -€6,729
down €6,729 (-74.2%), from €9,071 to €2,342
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 | €242,565 | €342,097 | +€99,532 | +41.0% |
| Fixed assets | 21/28 | €92,662 | €196,385 | +€103,723 | +111.9% |
| Tangible fixed assets | 22/27 | €92,662 | €196,385 | +€103,723 | +111.9% |
| Land and buildings | 22 | - | €110,000 | +€110,000 | |
| Plant, machinery and equipment | 23 | €83,265 | €72,760 | -€10,505 | -12.6% |
| Furniture and vehicles | 24 | €3,227 | €2,152 | -€1,074 | -33.3% |
| Other tangible fixed assets | 26 | €6,170 | €11,472 | +€5,302 | +85.9% |
| Current assets | 29/58 | €149,903 | €145,712 | -€4,191 | -2.8% |
| Stocks and contracts in progress | 3 | €10,700 | €13,250 | +€2,550 | +23.8% |
| Stocks | 30/36 | €10,700 | €13,250 | +€2,550 | +23.8% |
| Amounts receivable within one year | 40/41 | €34,049 | €37,519 | +€3,470 | +10.2% |
| Trade receivables | 40 | €31,120 | €30,862 | -€259 | -0.8% |
| Other amounts receivable | 41 | €2,929 | €6,658 | +€3,729 | +127.3% |
| Cash at bank and in hand | 54/58 | €96,717 | €83,692 | -€13,025 | -13.5% |
| Deferred charges and accrued income | 490/1 | €8,437 | €11,251 | +€2,814 | +33.3% |
| Total equity and liabilities | 10/49 | €242,565 | €342,097 | +€99,532 | +41.0% |
| Equity | 10/15 | €151,077 | €157,448 | +€6,370 | +4.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €103,340 | €109,640 | +€6,300 | +6.1% |
| Distributable reserves | 133 | €103,340 | €109,640 | +€6,300 | +6.1% |
| Profit (loss) carried forward | 14 | €41,537 | €41,608 | +€70 | +0.2% |
| Amounts payable | 17/49 | €91,488 | €184,649 | +€93,161 | +101.8% |
| Amounts payable after more than one year | 17 | €37,565 | €119,124 | +€81,559 | +217.1% |
| Financial debts | 170/4 | €37,565 | €119,124 | +€81,559 | +217.1% |
| Amounts payable within one year | 42/48 | €53,924 | €65,526 | +€11,602 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €9,384 | €16,341 | +€6,957 | +74.1% |
| Trade debts | 44 | €29,414 | €28,633 | -€781 | -2.7% |
| Suppliers | 440/4 | €29,414 | €28,633 | -€781 | -2.7% |
| Taxes, remuneration and social security | 45 | €10,936 | €11,213 | +€277 | +2.5% |
| Taxes | 450/3 | €6,578 | €2,666 | -€3,912 | -59.5% |
| Remuneration and social security | 454/9 | €4,358 | €8,547 | +€4,189 | +96.1% |
| Other amounts payable | 47/48 | €4,189 | €9,339 | +€5,150 | +122.9% |
| Remuneration, social security and pensions | 62 | €68,821 | €125,975 | +€57,154 | +83.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,536 | €24,390 | +€11,854 | +94.6% |
| Other operating charges | 640/8 | €1,619 | €20,908 | +€19,289 | +1191.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €121,019 | €183,987 | +€62,968 | +52.0% |
| Operating profit (loss) | 9901 | €38,044 | €12,714 | -€25,330 | -66.6% |
| Financial income | 75/76B | €44 | €640 | +€596 | +1352.9% |
| Recurring financial income | 75 | €44 | €640 | +€596 | +1352.9% |
| Financial charges | 65/66B | €1,691 | €4,641 | +€2,950 | +174.4% |
| Recurring financial charges | 65 | €1,691 | €4,641 | +€2,950 | +174.4% |
| Profit (loss) for the period before taxes | 9903 | €36,397 | €8,713 | -€27,684 | -76.1% |
| Income taxes | 67/77 | €9,071 | €2,342 | -€6,729 | -74.2% |
| Profit (loss) for the period | 9904 | €27,326 | €6,370 | -€20,955 | -76.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,326 | €6,370 | -€20,955 | -76.7% |
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 30 September 2026 via checked.be.