AJ Capital: 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.
AJ Capital
Largest movements
- Cash +€904,325
up €904,325 (+8,235%), from €10,982 to €915,307
mainly Receivables within one year (+€834,220) and Net result for the year (+€70,768)
- Receivables within one year -€834,220
down €834,220 (-16.0%), from €5.2m to €4.4m
of which Other amounts receivable: -€834,220
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€934,999
down €934,999 (-88.6%), from €1.1m to €120,751
of which Non-recurring financial income: -€1.0m
- Financial charges +€567,552
up €567,552, from -€567,552 to €0
of which Non-recurring financial charges: +€626,432
- Gross operating margin -€9,073
down €9,073 (-22.2%), from -€40,909 to -€49,983
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 | €10,717,226 | €10,787,331 | +€70,105 | +0.7% |
| Fixed assets | 21/28 | €5,500,000 | €5,500,000 | = | 0.0% |
| Financial fixed assets | 28 | €5,500,000 | €5,500,000 | = | 0.0% |
| Current assets | 29/58 | €5,217,226 | €5,287,331 | +€70,105 | +1.3% |
| Amounts receivable within one year | 40/41 | €5,206,244 | €4,372,024 | -€834,220 | -16.0% |
| Trade receivables | 40 | €184 | €184 | = | 0.0% |
| Other amounts receivable | 41 | €5,206,060 | €4,371,840 | -€834,220 | -16.0% |
| Cash at bank and in hand | 54/58 | €10,982 | €915,307 | +€904,325 | +8,235% |
| Total equity and liabilities | 10/49 | €10,717,226 | €10,787,331 | +€70,105 | +0.7% |
| Equity | 10/15 | €10,716,563 | €10,787,331 | +€70,768 | +0.7% |
| Contributions | 10/11 | €9,563,000 | €9,563,000 | = | 0.0% |
| Capital | 10 | €9,563,000 | €9,563,000 | = | 0.0% |
| Issued capital | 100 | €9,752,000 | €9,752,000 | = | 0.0% |
| Uncalled capital | 101 | €189,000 | €189,000 | = | 0.0% |
| Reserves | 13 | €57,678 | €61,217 | +€3,538 | +6.1% |
| Non-distributable reserves | 130/1 | €57,678 | €61,217 | +€3,538 | +6.1% |
| Legal reserve | 130 | €57,678 | €61,217 | +€3,538 | +6.1% |
| Profit (loss) carried forward | 14 | €1,095,885 | €1,163,114 | +€67,229 | +6.1% |
| Amounts payable | 17/49 | €663 | - | -€663 | |
| Accrued charges and deferred income | 492/3 | €663 | - | -€663 | |
| Gross operating margin | 9900 | -€40,909 | -€49,983 | -€9,073 | -22.2% |
| Operating profit (loss) | 9901 | -€40,909 | -€49,983 | -€9,073 | -22.2% |
| Financial income | 75/76B | €1,055,750 | €120,751 | -€934,999 | -88.6% |
| Recurring financial income | 75 | €8,270 | €120,751 | +€112,481 | +1,360% |
| Non-recurring financial income | 76B | €1,047,480 | - | -€1.0m | |
| Financial charges | 65/66B | -€567,552 | €0 | +€567,552 | |
| Recurring financial charges | 65 | €58,881 | €0 | -€58,880 | -100.0% |
| Non-recurring financial charges | 66B | -€626,432 | - | +€626,432 | |
| Profit (loss) for the period before taxes | 9903 | €1,582,393 | €70,768 | -€1.5m | -95.5% |
| Profit (loss) for the period | 9904 | €1,582,393 | €70,768 | -€1.5m | -95.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,582,393 | €70,768 | -€1.5m | -95.5% |
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 17 October 2026 via checked.be.