A.J.M.D.: 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.
A.J.M.D.
Largest movements
- Cash +€213,538
up €213,538 (+152%), from €140,089 to €353,627
mainly Trade debts (+€218,772) and Net result for the year (+€70,039)
- Tangible fixed assets +€34,698
up €34,698 (+20.3%), from €170,594 to €205,292
of which Furniture and vehicles: +€38,362
- Receivables within one year -€30,111
down €30,111 (-9.5%), from €317,314 to €287,203
of which Trade receivables: -€60,195
- Trade debts +€218,772
up €218,772 (+34.3%), from €637,582 to €856,354
- Profit (loss) carried forward +€70,039
up €70,039 (+24.4%), from €287,154 to €357,192
- Other debts -€56,864
down €56,864 (-98.7%), from €57,613 to €749
- Debts after one year -€44,881
down €44,881 (-13.3%), from €337,619 to €292,739
- Current portion of long-term debt +€25,930
up €25,930 (+30.1%), from €86,026 to €111,956
- Staff costs +€93,833
up €93,833 (+36.9%), from €254,267 to €348,100
- Taxes -€18,030
down €18,030 (-40.7%), from €44,255 to €26,225
- Financial charges -€11,663
down €11,663 (-41.4%), from €28,151 to €16,488
- Other operating charges -€11,586
down €11,586 (-34.2%), from €33,910 to €22,324
- Gross operating margin +€9,667
up €9,667 (+1.8%), from €529,644 to €539,311
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 | €1,652,486 | €1,856,551 | +€204,065 | +12.3% |
| Formation expenses | 20 | €444 | €236 | -€209 | -47.0% |
| Fixed assets | 21/28 | €947,318 | €981,520 | +€34,202 | +3.6% |
| Intangible fixed assets | 21 | €1,488 | €992 | -€496 | -33.3% |
| Tangible fixed assets | 22/27 | €170,594 | €205,292 | +€34,698 | +20.3% |
| Plant, machinery and equipment | 23 | €164,233 | €160,569 | -€3,664 | -2.2% |
| Furniture and vehicles | 24 | €6,361 | €44,724 | +€38,362 | +603% |
| Financial fixed assets | 28 | €775,235 | €775,235 | = | 0.0% |
| Current assets | 29/58 | €704,724 | €874,796 | +€170,072 | +24.1% |
| Stocks and contracts in progress | 3 | €234,321 | €220,966 | -€13,355 | -5.7% |
| Stocks | 30/36 | €234,321 | €220,966 | -€13,355 | -5.7% |
| Amounts receivable within one year | 40/41 | €317,314 | €287,203 | -€30,111 | -9.5% |
| Trade receivables | 40 | €294,549 | €234,355 | -€60,195 | -20.4% |
| Other amounts receivable | 41 | €22,765 | €52,848 | +€30,083 | +132% |
| Cash at bank and in hand | 54/58 | €140,089 | €353,627 | +€213,538 | +152% |
| Deferred charges and accrued income | 490/1 | €13,000 | €13,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,652,486 | €1,856,551 | +€204,065 | +12.3% |
| Equity | 10/15 | €427,154 | €497,192 | +€70,039 | +16.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €90,000 | €90,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €85,000 | €85,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €287,154 | €357,192 | +€70,039 | +24.4% |
| Amounts payable | 17/49 | €1,225,333 | €1,359,359 | +€134,026 | +10.9% |
| Amounts payable after more than one year | 17 | €337,619 | €292,739 | -€44,881 | -13.3% |
| Financial debts | 170/4 | €337,619 | €292,739 | -€44,881 | -13.3% |
| Amounts payable within one year | 42/48 | €887,714 | €1,066,620 | +€178,907 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €86,026 | €111,956 | +€25,930 | +30.1% |
| Trade debts | 44 | €637,582 | €856,354 | +€218,772 | +34.3% |
| Suppliers | 440/4 | €637,582 | €856,354 | +€218,772 | +34.3% |
| Taxes, remuneration and social security | 45 | €106,493 | €97,562 | -€8,931 | -8.4% |
| Taxes | 450/3 | €66,785 | €37,000 | -€29,785 | -44.6% |
| Remuneration and social security | 454/9 | €39,708 | €60,562 | +€20,854 | +52.5% |
| Other amounts payable | 47/48 | €57,613 | €749 | -€56,864 | -98.7% |
| Remuneration, social security and pensions | 62 | €254,267 | €348,100 | +€93,833 | +36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,700 | €56,140 | +€440 | +0.8% |
| Other operating charges | 640/8 | €33,910 | €22,324 | -€11,586 | -34.2% |
| Non-recurring operating charges | 66A | €147 | - | -€147 | |
| Gross operating margin | 9900 | €529,644 | €539,311 | +€9,667 | +1.8% |
| Operating profit (loss) | 9901 | €185,621 | €112,747 | -€72,873 | -39.3% |
| Financial income | 75/76B | €445 | €5 | -€441 | -98.9% |
| Recurring financial income | 75 | €445 | €5 | -€441 | -98.9% |
| Financial charges | 65/66B | €28,151 | €16,488 | -€11,663 | -41.4% |
| Recurring financial charges | 65 | €28,151 | €16,488 | -€11,663 | -41.4% |
| Profit (loss) for the period before taxes | 9903 | €157,915 | €96,264 | -€61,651 | -39.0% |
| Income taxes | 67/77 | €44,255 | €26,225 | -€18,030 | -40.7% |
| Profit (loss) for the period | 9904 | €113,660 | €70,039 | -€43,621 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €113,660 | €70,039 | -€43,621 | -38.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.