A.J.E.C.: 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.J.E.C.
Largest movements
- Cash +€30,107
up €30,107 (+41.0%), from €73,350 to €103,457
mainly Receivables within one year (+€24,147) and Depreciation (+€10,544)
- Receivables within one year -€24,147
down €24,147 (-85.1%), from €28,360 to €4,213
of which Trade receivables: -€22,890
- Tangible fixed assets -€10,544
down €10,544 (-4.1%), from €257,357 to €246,812
of which Land and buildings: -€9,165
- Debts after one year -€16,526
down €16,526 (-14.0%), from €118,202 to €101,675
of which Financial debts: -€16,878
- Profit (loss) carried forward +€7,542
new in 2025: €7,542
- Other operating charges -€17,018
down €17,018 (-99.0%), from €17,186 to €168
- Write-downs +€15,345
no longer reported in 2025 (was -€15,345)
- Gross operating margin +€5,842
up €5,842 (+32.1%), from €18,187 to €24,029
- Financial income -€2,901
down €2,901 (-90.5%), from €3,207 to €306
of which Non-recurring financial income: -€1,684
- Financial charges -€611
down €611 (-13.3%), from €4,590 to €3,979
of which Financial charges: -€492
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 | €360,727 | €354,483 | -€6,244 | -1.7% |
| Fixed assets | 21/28 | €257,357 | €246,812 | -€10,544 | -4.1% |
| Tangible fixed assets | 22/27 | €257,357 | €246,812 | -€10,544 | -4.1% |
| Land and buildings | 22 | €255,978 | €246,812 | -€9,165 | -3.6% |
| Plant, machinery and equipment | 23 | €1,379 | - | -€1,379 | |
| Current assets | 29/58 | €103,370 | €107,671 | +€4,301 | +4.2% |
| Amounts receivable within one year | 40/41 | €28,360 | €4,213 | -€24,147 | -85.1% |
| Trade receivables | 40 | €27,103 | €4,213 | -€22,890 | -84.5% |
| Other amounts receivable | 41 | €1,257 | - | -€1,257 | |
| Cash at bank and in hand | 54/58 | €73,350 | €103,457 | +€30,107 | +41.0% |
| Deferred charges and accrued income | 490/1 | €1,660 | - | -€1,660 | |
| Total equity and liabilities | 10/49 | €360,727 | €354,483 | -€6,244 | -1.7% |
| Equity | 10/15 | €197,213 | €204,755 | +€7,542 | +3.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €126,498 | €126,498 | = | 0.0% |
| Reserves | 13 | €64,515 | €64,515 | = | 0.0% |
| Distributable reserves | 133 | €64,515 | €64,515 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €7,542 | +€7,542 | |
| Amounts payable | 17/49 | €163,514 | €149,728 | -€13,785 | -8.4% |
| Amounts payable after more than one year | 17 | €118,202 | €101,675 | -€16,526 | -14.0% |
| Financial debts | 170/4 | €115,634 | €98,756 | -€16,878 | -14.6% |
| Other amounts payable | 178/9 | €2,568 | €2,919 | +€351 | +13.7% |
| Amounts payable within one year | 42/48 | €45,312 | €48,053 | +€2,741 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €16,396 | €16,878 | +€482 | +2.9% |
| Trade debts | 44 | €23,952 | €20,679 | -€3,273 | -13.7% |
| Suppliers | 440/4 | €23,952 | €20,679 | -€3,273 | -13.7% |
| Taxes, remuneration and social security | 45 | €2,000 | €5,540 | +€3,540 | +177.0% |
| Taxes | 450/3 | €2,000 | €5,540 | +€3,540 | +177.0% |
| Other amounts payable | 47/48 | €2,965 | €4,957 | +€1,992 | +67.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,236 | €10,544 | +€308 | +3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€15,345 | - | +€15,345 | |
| Other operating charges | 640/8 | €17,186 | €168 | -€17,018 | -99.0% |
| Gross operating margin | 9900 | €18,187 | €24,029 | +€5,842 | +32.1% |
| Operating profit (loss) | 9901 | €6,109 | €13,317 | +€7,207 | +118.0% |
| Financial income | 75/76B | €3,207 | €306 | -€2,901 | -90.5% |
| Recurring financial income | 75 | €1,522 | €306 | -€1,217 | -79.9% |
| Non-recurring financial income | 76B | €1,684 | - | -€1,684 | |
| Financial charges | 65/66B | €4,590 | €3,979 | -€611 | -13.3% |
| Recurring financial charges | 65 | €4,471 | €3,979 | -€492 | -11.0% |
| Non-recurring financial charges | 66B | €119 | - | -€119 | |
| Profit (loss) for the period before taxes | 9903 | €4,726 | €9,644 | +€4,917 | +104.0% |
| Income taxes | 67/77 | €2,019 | €2,102 | +€83 | +4.1% |
| Profit (loss) for the period | 9904 | €2,707 | €7,542 | +€4,835 | +178.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,707 | €7,542 | +€4,835 | +178.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.