A.J.G.: 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.
What changed
A.J.G.
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€776,733
2024 · €979,875-€203,142
Equity
€4.4m
2024 · €3.6m+€776,733
Cash
€128,064
2024 · €232,759-€104,694
Balance sheet total
€8.6m
2024 · €8.3m+€271,829
Largest movements
Assets
- Receivables within one year +€242,627
up €242,627 (+29.9%), from €810,430 to €1.1m
of which Trade receivables: +€205,238
- Tangible fixed assets +€190,432
up €190,432 (+7.9%), from €2.4m to €2.6m
of which Furniture and vehicles: +€236,127
- Cash -€104,694
down €104,694 (-45.0%), from €232,759 to €128,064
mainly Investment in fixed assets (net) (-€537,980) and Tax, wage and social debts (-€422,897)
Equity and liabilities
- Reserves +€776,733
up €776,733 (+21.9%), from €3.5m to €4.3m
of which Distributable reserves: +€776,733
- Tax, wage and social debts -€422,897
down €422,897 (-100%), from €422,897 to €0
Income statement
- Services and other goods +€132,991
up €132,991 (+42.3%), from €314,382 to €447,373
- Depreciation +€54,964
up €54,964 (+18.8%), from €292,584 to €347,548
- Taxes -€24,910
down €24,910 (-6.2%), from €399,181 to €374,271
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.
Result 2024
€979,875
Turnover
-€8,728
Other operating income
-€4,088
Goods and materials
+€12,928
Services and other goods
-€132,991
Depreciation
-€54,964
Other operating charges
+€1,616
Other operating items
-€48,625
Financial income
+€114
Financial charges
+€6,686
Taxes
+€24,910
Result 2025
€776,733
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€501,028
Investment
-€537,980
Financing
-€67,743
Cash 2024
€232,759
From operations (derived)
+€501,028
Net result for the year
+€776,733
Depreciation
+€347,548
Stocks and contracts
+€60,450
Receivables within one year
-€242,627
Deferred charges and accrued income
-€3,914
Trade debts
-€5,194
Tax, wage and social debts
-€422,897
Other debts
+€115
Accrued charges and deferred income
-€9,186
Investment (derived)
-€537,980
Investment in fixed assets (net)
-€537,980
Financing
-€67,743
Current portion of long-term debt
-€67,743
Cash 2025
€128,064
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,314,123 | €8,585,951 | +€271,829 | +3.3% |
| Fixed assets | 21/28 | €6,795,613 | €6,986,045 | +€190,432 | +2.8% |
| Tangible fixed assets | 22/27 | €2,423,683 | €2,614,115 | +€190,432 | +7.9% |
| Land and buildings | 22 | €948,523 | €1,097,430 | +€148,907 | +15.7% |
| Plant, machinery and equipment | 23 | €1,054,354 | €859,752 | -€194,603 | -18.5% |
| Furniture and vehicles | 24 | €420,806 | €656,933 | +€236,127 | +56.1% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €4,371,930 | €4,371,930 | = | 0.0% |
| Affiliated companies | 280/1 | €4,363,590 | €4,363,590 | = | 0.0% |
| Participating interests | 280 | €4,363,590 | €4,363,590 | = | 0.0% |
| Other financial fixed assets | 284/8 | €8,340 | €8,340 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €8,340 | €8,340 | = | 0.0% |
| Current assets | 29/58 | €1,518,509 | €1,599,906 | +€81,397 | +5.4% |
| Amounts receivable after more than one year | 29 | €80,000 | €80,000 | = | 0.0% |
| Other amounts receivable | 291 | €80,000 | €80,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €382,800 | €322,350 | -€60,450 | -15.8% |
| Stocks | 30/36 | €382,800 | €322,350 | -€60,450 | -15.8% |
| Goods purchased for resale | 34 | €382,800 | €322,350 | -€60,450 | -15.8% |
| Amounts receivable within one year | 40/41 | €810,430 | €1,053,057 | +€242,627 | +29.9% |
| Trade receivables | 40 | €332,756 | €537,994 | +€205,238 | +61.7% |
| Other amounts receivable | 41 | €477,674 | €515,063 | +€37,389 | +7.8% |
| Cash at bank and in hand | 54/58 | €232,759 | €128,064 | -€104,694 | -45.0% |
| Deferred charges and accrued income | 490/1 | €12,521 | €16,435 | +€3,914 | +31.3% |
| Total equity and liabilities | 10/49 | €8,314,123 | €8,585,951 | +€271,829 | +3.3% |
| Equity | 10/15 | €3,610,782 | €4,387,515 | +€776,733 | +21.5% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €3,548,809 | €4,325,542 | +€776,733 | +21.9% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €3,542,612 | €4,319,345 | +€776,733 | +21.9% |
| Amounts payable | 17/49 | €4,703,340 | €4,198,436 | -€504,904 | -10.7% |
| Amounts payable after more than one year | 17 | €900,000 | €900,000 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other loans | 174 | €0 | - | = | |
| Other amounts payable | 178/9 | €900,000 | €900,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,513,011 | €3,017,292 | -€495,719 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €101,321 | €33,578 | -€67,743 | -66.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €56,048 | €50,854 | -€5,194 | -9.3% |
| Suppliers | 440/4 | €56,048 | €50,854 | -€5,194 | -9.3% |
| Taxes, remuneration and social security | 45 | €422,897 | €0 | -€422,897 | -100% |
| Taxes | 450/3 | €422,897 | €0 | -€422,897 | -100% |
| Other amounts payable | 47/48 | €2,932,745 | €2,932,860 | +€115 | 0.0% |
| Accrued charges and deferred income | 492/3 | €290,329 | €281,144 | -€9,186 | -3.2% |
| Operating income | 70/76A | €2,091,229 | €2,029,788 | -€61,441 | -2.9% |
| Turnover | 70 | €1,972,612 | €1,963,884 | -€8,728 | -0.4% |
| Other operating income | 74 | €53,617 | €49,529 | -€4,088 | -7.6% |
| Non-recurring operating income | 76A | €65,000 | €16,375 | -€48,625 | -74.8% |
| Operating charges | 60/66A | €701,694 | €875,105 | +€173,410 | +24.7% |
| Goods for resale, raw materials and consumables | 60 | €83,204 | €70,276 | -€12,928 | -15.5% |
| Purchases | 600/8 | €162,684 | €9,826 | -€152,858 | -94.0% |
| Change in stocks: decrease (increase) | 609 | -€79,480 | €60,450 | +€139,930 | |
| Services and other goods | 61 | €314,382 | €447,373 | +€132,991 | +42.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €292,584 | €347,548 | +€54,964 | +18.8% |
| Other operating charges | 640/8 | €11,523 | €9,907 | -€1,616 | -14.0% |
| Operating profit (loss) | 9901 | €1,389,535 | €1,154,684 | -€234,852 | -16.9% |
| Financial income | 75/76B | €953 | €1,066 | +€114 | +11.9% |
| Recurring financial income | 75 | €953 | €1,066 | +€114 | +11.9% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €952 | €952 | = | 0.0% |
| Other financial income | 752/9 | €1 | €114 | +€114 | +18,342% |
| Financial charges | 65/66B | €11,432 | €4,746 | -€6,686 | -58.5% |
| Recurring financial charges | 65 | €11,432 | €4,746 | -€6,686 | -58.5% |
| Debt charges | 650 | €11,098 | €4,312 | -€6,786 | -61.1% |
| Other financial charges | 652/9 | €333 | €434 | +€101 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | €1,379,056 | €1,151,004 | -€228,052 | -16.5% |
| Income taxes | 67/77 | €399,181 | €374,271 | -€24,910 | -6.2% |
| Taxes | 670/3 | €399,181 | €374,271 | -€24,910 | -6.2% |
| Profit (loss) for the period | 9904 | €979,875 | €776,733 | -€203,142 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €979,875 | €776,733 | -€203,142 | -20.7% |
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 21 October 2026 via checked.be.