AJ MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash +€25,001
up €25,001 (+306.5%), from €8,158 to €33,158
mainly Net result for the year (+€21,683) and Depreciation (+€9,163)
- Tangible fixed assets -€9,163
down €9,163 (-34.1%), from €26,881 to €17,718
- Receivables within one year +€3,244
up €3,244 (+159.4%), from €2,035 to €5,279
of which Trade receivables: +€5,200
- Deferred charges and accrued income +€2,405
up €2,405 (+89.2%), from €2,695 to €5,100
- Reserves +€21,683
up €21,683 (+265.6%), from €8,164 to €29,846
of which Tax-exempt reserves: +€21,683
- Debts after one year -€7,080
down €7,080 (-49.7%), from €14,254 to €7,174
- Tax, wage and social debts +€5,850
up €5,850 (+79.8%), from €7,329 to €13,178
- Trade debts +€1,734
up €1,734 (+159.3%), from €1,089 to €2,823
- Gross operating margin +€29,914
up €29,914 (+263.6%), from €11,349 to €41,263
- Taxes +€8,471
up €8,471 (+878.0%), from €965 to €9,436
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 | €39,769 | €61,255 | +€21,487 | +54.0% |
| Fixed assets | 21/28 | €26,881 | €17,718 | -€9,163 | -34.1% |
| Tangible fixed assets | 22/27 | €26,881 | €17,718 | -€9,163 | -34.1% |
| Furniture and vehicles | 24 | €26,881 | €17,718 | -€9,163 | -34.1% |
| Current assets | 29/58 | €12,888 | €43,537 | +€30,649 | +237.8% |
| Amounts receivable within one year | 40/41 | €2,035 | €5,279 | +€3,244 | +159.4% |
| Trade receivables | 40 | - | €5,200 | +€5,200 | |
| Other amounts receivable | 41 | €2,035 | €79 | -€1,956 | -96.1% |
| Cash at bank and in hand | 54/58 | €8,158 | €33,158 | +€25,001 | +306.5% |
| Deferred charges and accrued income | 490/1 | €2,695 | €5,100 | +€2,405 | +89.2% |
| Total equity and liabilities | 10/49 | €39,769 | €61,255 | +€21,487 | +54.0% |
| Equity | 10/15 | €9,317 | €31,000 | +€21,683 | +232.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €8,164 | €29,846 | +€21,683 | +265.6% |
| Tax-exempt reserves | 132 | €8,164 | €29,846 | +€21,683 | +265.6% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €153 | €153 | = | 0.0% |
| Amounts payable | 17/49 | €30,452 | €30,256 | -€196 | -0.6% |
| Amounts payable after more than one year | 17 | €14,254 | €7,174 | -€7,080 | -49.7% |
| Financial debts | 170/4 | €14,254 | €7,174 | -€7,080 | -49.7% |
| Amounts payable within one year | 42/48 | €16,198 | €23,081 | +€6,884 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €7,617 | €7,080 | -€537 | -7.1% |
| Trade debts | 44 | €1,089 | €2,823 | +€1,734 | +159.3% |
| Suppliers | 440/4 | €1,089 | €2,823 | +€1,734 | +159.3% |
| Taxes, remuneration and social security | 45 | €7,329 | €13,178 | +€5,850 | +79.8% |
| Taxes | 450/3 | €7,329 | €13,178 | +€5,850 | +79.8% |
| Other amounts payable | 47/48 | €163 | €0 | -€163 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,163 | €9,163 | = | 0.0% |
| Other operating charges | 640/8 | €578 | €593 | +€15 | +2.7% |
| Gross operating margin | 9900 | €11,349 | €41,263 | +€29,914 | +263.6% |
| Operating profit (loss) | 9901 | €1,608 | €31,507 | +€29,898 | +1858.9% |
| Financial charges | 65/66B | €490 | €388 | -€103 | -20.9% |
| Recurring financial charges | 65 | €490 | €388 | -€103 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €1,118 | €31,119 | +€30,001 | +2683.1% |
| Income taxes | 67/77 | €965 | €9,436 | +€8,471 | +878.0% |
| Profit (loss) for the period | 9904 | €153 | €21,683 | +€21,530 | +14050.5% |
| Profit (loss) for the period to be appropriated | 9905 | €153 | €21,683 | +€21,530 | +14050.5% |
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 10 October 2026 via checked.be.