AJ-A: 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.
AJ-A
Largest movements
- Cash +€21,729
up €21,729 (+51.0%), from €42,610 to €64,339
mainly Depreciation (+€25,417) and Net result for the year (+€16,687)
- Intangible fixed assets -€19,818
no longer reported in 2025 (was €19,818)
- Tangible fixed assets -€5,599
down €5,599 (-45.2%), from €12,393 to €6,794
of which Furniture and vehicles: -€5,186
- Receivables within one year -€2,988
down €2,988 (-78.0%), from €3,829 to €842
of which Other amounts receivable: -€2,963
- Deferred charges and accrued income +€2,208
up €2,208 (+1124.3%), from €196 to €2,405
- Current portion of long-term debt -€16,966
down €16,966 (-83.2%), from €20,384 to €3,418
- Profit (loss) carried forward +€16,687
up €16,687 (+89.8%), from -€18,589 to -€1,902
- Debts after one year -€12,350
down €12,350 (-25.3%), from €48,881 to €36,531
of which Other amounts payable: -€8,932
- Tax, wage and social debts +€6,725
up €6,725 (+101.3%), from €6,640 to €13,366
of which Taxes: +€6,475
- Trade debts +€1,437
up €1,437 (+191.9%), from €749 to €2,186
- Depreciation -€20,257
down €20,257 (-44.4%), from €45,674 to €25,417
- Gross operating margin +€11,387
up €11,387 (+28.5%), from €39,904 to €51,292
- Taxes +€6,944
up €6,944 (+724.8%), from €958 to €7,902
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 | €78,947 | €74,480 | -€4,467 | -5.7% |
| Fixed assets | 21/28 | €32,311 | €6,894 | -€25,417 | -78.7% |
| Intangible fixed assets | 21 | €19,818 | - | -€19,818 | |
| Tangible fixed assets | 22/27 | €12,393 | €6,794 | -€5,599 | -45.2% |
| Furniture and vehicles | 24 | €11,915 | €6,729 | -€5,186 | -43.5% |
| Other tangible fixed assets | 26 | €478 | €65 | -€412 | -86.3% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €46,636 | €67,586 | +€20,950 | +44.9% |
| Amounts receivable within one year | 40/41 | €3,829 | €842 | -€2,988 | -78.0% |
| Trade receivables | 40 | €25 | - | -€25 | |
| Other amounts receivable | 41 | €3,804 | €842 | -€2,963 | -77.9% |
| Cash at bank and in hand | 54/58 | €42,610 | €64,339 | +€21,729 | +51.0% |
| Deferred charges and accrued income | 490/1 | €196 | €2,405 | +€2,208 | +1124.3% |
| Total equity and liabilities | 10/49 | €78,947 | €74,480 | -€4,467 | -5.7% |
| Equity | 10/15 | €2,292 | €18,979 | +€16,687 | +728.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €19,382 | €19,382 | = | 0.0% |
| Distributable reserves | 133 | €19,382 | €19,382 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,589 | -€1,902 | +€16,687 | +89.8% |
| Amounts payable | 17/49 | €76,654 | €55,501 | -€21,154 | -27.6% |
| Amounts payable after more than one year | 17 | €48,881 | €36,531 | -€12,350 | -25.3% |
| Financial debts | 170/4 | €3,418 | - | -€3,418 | |
| Other amounts payable | 178/9 | €45,463 | €36,531 | -€8,932 | -19.6% |
| Amounts payable within one year | 42/48 | €27,774 | €18,970 | -€8,804 | -31.7% |
| Current portion of amounts payable after more than one year | 42 | €20,384 | €3,418 | -€16,966 | -83.2% |
| Trade debts | 44 | €749 | €2,186 | +€1,437 | +191.9% |
| Suppliers | 440/4 | €749 | €2,186 | +€1,437 | +191.9% |
| Taxes, remuneration and social security | 45 | €6,640 | €13,366 | +€6,725 | +101.3% |
| Taxes | 450/3 | €6,640 | €13,116 | +€6,475 | +97.5% |
| Remuneration and social security | 454/9 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,674 | €25,417 | -€20,257 | -44.4% |
| Other operating charges | 640/8 | €1,421 | €917 | -€505 | -35.5% |
| Gross operating margin | 9900 | €39,904 | €51,292 | +€11,387 | +28.5% |
| Operating profit (loss) | 9901 | -€7,191 | €24,958 | +€32,149 | |
| Financial charges | 65/66B | €619 | €369 | -€250 | -40.4% |
| Recurring financial charges | 65 | €619 | €369 | -€250 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,810 | €24,589 | +€32,399 | |
| Income taxes | 67/77 | €958 | €7,902 | +€6,944 | +724.8% |
| Profit (loss) for the period | 9904 | -€8,768 | €16,687 | +€25,455 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,768 | €16,687 | +€25,455 |
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 5 October 2026 via checked.be.