AJ INDUSTRIES: 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 INDUSTRIES
Largest movements
- Receivables within one year +€43,623
up €43,623 (+24.8%), from €175,908 to €219,531
of which Trade receivables: +€25,667
- Tangible fixed assets -€20,684
down €20,684 (-29.7%), from €69,755 to €49,071
of which Furniture and vehicles: -€21,126
- Cash -€4,303
down €4,303 (-5.0%), from €85,457 to €81,154
mainly Receivables within one year (-€43,623) and Tax, wage and social debts (-€41,821)
- Trade debts +€54,055
up €54,055 (+661%), from €8,173 to €62,228
- Tax, wage and social debts -€41,821
down €41,821 (-59.6%), from €70,183 to €28,362
of which Taxes: -€36,805
- Reserves +€26,729
up €26,729 (+14.2%), from €188,165 to €214,894
of which Distributable reserves: +€26,729
- Debts after one year -€14,459
down €14,459 (-56.6%), from €25,557 to €11,097
- Current portion of long-term debt -€7,413
down €7,413 (-33.9%), from €21,872 to €14,459
- Depreciation +€11,516
up €11,516 (+36.8%), from €31,271 to €42,786
- Staff costs -€7,271
down €7,271 (-4.5%), from €159,822 to €152,551
- Gross operating margin +€4,311
up €4,311 (+1.8%), from €233,675 to €237,986
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 | €338,432 | €355,471 | +€17,038 | +5.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €70,755 | €50,071 | -€20,684 | -29.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €69,755 | €49,071 | -€20,684 | -29.7% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €946 | €1,388 | +€442 | +46.8% |
| Furniture and vehicles | 24 | €68,809 | €47,683 | -€21,126 | -30.7% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €267,677 | €305,399 | +€37,722 | +14.1% |
| Amounts receivable within one year | 40/41 | €175,908 | €219,531 | +€43,623 | +24.8% |
| Trade receivables | 40 | €172,807 | €198,474 | +€25,667 | +14.9% |
| Other amounts receivable | 41 | €3,101 | €21,057 | +€17,956 | +579% |
| Cash at bank and in hand | 54/58 | €85,457 | €81,154 | -€4,303 | -5.0% |
| Deferred charges and accrued income | 490/1 | €6,312 | €4,714 | -€1,599 | -25.3% |
| Total equity and liabilities | 10/49 | €338,432 | €355,471 | +€17,038 | +5.0% |
| Equity | 10/15 | €206,765 | €233,494 | +€26,729 | +12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €188,165 | €214,894 | +€26,729 | +14.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €186,305 | €213,034 | +€26,729 | +14.3% |
| Amounts payable | 17/49 | €131,667 | €121,976 | -€9,691 | -7.4% |
| Amounts payable after more than one year | 17 | €25,557 | €11,097 | -€14,459 | -56.6% |
| Financial debts | 170/4 | €25,557 | €11,097 | -€14,459 | -56.6% |
| Amounts payable within one year | 42/48 | €104,370 | €110,451 | +€6,081 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €21,872 | €14,459 | -€7,413 | -33.9% |
| Trade debts | 44 | €8,173 | €62,228 | +€54,055 | +661% |
| Suppliers | 440/4 | €8,173 | €62,228 | +€54,055 | +661% |
| Taxes, remuneration and social security | 45 | €70,183 | €28,362 | -€41,821 | -59.6% |
| Taxes | 450/3 | €45,873 | €9,068 | -€36,805 | -80.2% |
| Remuneration and social security | 454/9 | €24,310 | €19,294 | -€5,016 | -20.6% |
| Other amounts payable | 47/48 | €4,142 | €5,402 | +€1,259 | +30.4% |
| Accrued charges and deferred income | 492/3 | €1,740 | €428 | -€1,312 | -75.4% |
| Non-recurring operating income | 76A | €0 | €248 | +€248 | |
| Remuneration, social security and pensions | 62 | €159,822 | €152,551 | -€7,271 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,271 | €42,786 | +€11,516 | +36.8% |
| Other operating charges | 640/8 | €2,784 | €2,739 | -€45 | -1.6% |
| Non-recurring operating charges | 66A | €117 | €0 | -€117 | -100% |
| Gross operating margin | 9900 | €233,675 | €237,986 | +€4,311 | +1.8% |
| Operating profit (loss) | 9901 | €39,682 | €39,910 | +€228 | +0.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,985 | €1,109 | -€876 | -44.1% |
| Recurring financial charges | 65 | €1,985 | €1,109 | -€876 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | €37,697 | €38,802 | +€1,105 | +2.9% |
| Income taxes | 67/77 | €11,916 | €12,073 | +€157 | +1.3% |
| Profit (loss) for the period | 9904 | €25,781 | €26,729 | +€948 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,781 | €26,729 | +€948 | +3.7% |
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 20 October 2026 via checked.be.