AJ PROJECT SUPPORT: 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 PROJECT SUPPORT
Largest movements
- Cash +€25,800
up €25,800 (+99.1%), from €26,025 to €51,825
mainly Net result for the year (+€21,946) and Receivables within one year (+€11,597)
- Receivables within one year -€11,597
down €11,597 (-45.2%), from €25,670 to €14,073
of which Trade receivables: -€11,597
- Reserves +€15,993
up €15,993 (+42.1%), from €37,971 to €53,963
of which Distributable reserves: +€15,993
- Debts after one year -€4,976
down €4,976 (-3.7%), from €132,894 to €127,917
- Trade debts +€2,962
up €2,962 (+22.7%), from €13,060 to €16,022
- Depreciation -€18,367
down €18,367 (-76.2%), from €24,102 to €5,735
- Taxes +€3,469
up €3,469 (+46.3%), from €7,497 to €10,966
- Gross operating margin -€2,522
down €2,522 (-5.3%), from €47,470 to €44,948
- Financial charges +€1,825
up €1,825 (+48.1%), from €3,797 to €5,622
- Other operating charges -€1,523
down €1,523 (-69.0%), from €2,206 to €683
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 | €222,914 | €236,440 | +€13,526 | +6.1% |
| Fixed assets | 21/28 | €170,194 | €169,445 | -€748 | -0.4% |
| Tangible fixed assets | 22/27 | €169,758 | €169,009 | -€748 | -0.4% |
| Land and buildings | 22 | €158,131 | €157,599 | -€532 | -0.3% |
| Plant, machinery and equipment | 23 | €9,168 | €7,791 | -€1,377 | -15.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €2,459 | €3,620 | +€1,160 | +47.2% |
| Financial fixed assets | 28 | €436 | €436 | = | 0.0% |
| Current assets | 29/58 | €52,721 | €66,995 | +€14,274 | +27.1% |
| Amounts receivable within one year | 40/41 | €25,670 | €14,073 | -€11,597 | -45.2% |
| Trade receivables | 40 | €25,670 | €14,073 | -€11,597 | -45.2% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €26,025 | €51,825 | +€25,800 | +99.1% |
| Deferred charges and accrued income | 490/1 | €1,026 | €1,096 | +€70 | +6.9% |
| Total equity and liabilities | 10/49 | €222,914 | €236,440 | +€13,526 | +6.1% |
| Equity | 10/15 | €54,571 | €70,563 | +€15,993 | +29.3% |
| Contributions | 10/11 | €16,600 | €16,600 | = | 0.0% |
| Reserves | 13 | €37,971 | €53,963 | +€15,993 | +42.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €37,971 | €53,963 | +€15,993 | +42.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €168,344 | €165,877 | -€2,467 | -1.5% |
| Amounts payable after more than one year | 17 | €132,894 | €127,917 | -€4,976 | -3.7% |
| Financial debts | 170/4 | €132,894 | €127,917 | -€4,976 | -3.7% |
| Amounts payable within one year | 42/48 | €35,450 | €37,960 | +€2,510 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €4,784 | €4,976 | +€192 | +4.0% |
| Financial debts | 43 | €767 | €21 | -€746 | -97.3% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €767 | €21 | -€746 | -97.3% |
| Trade debts | 44 | €13,060 | €16,022 | +€2,962 | +22.7% |
| Suppliers | 440/4 | €13,060 | €16,022 | +€2,962 | +22.7% |
| Taxes, remuneration and social security | 45 | €15,957 | €15,957 | +€0 | 0.0% |
| Taxes | 450/3 | €15,957 | €14,957 | -€1,000 | -6.3% |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €882 | €983 | +€101 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,102 | €5,735 | -€18,367 | -76.2% |
| Other operating charges | 640/8 | €2,206 | €683 | -€1,523 | -69.0% |
| Gross operating margin | 9900 | €47,470 | €44,948 | -€2,522 | -5.3% |
| Operating profit (loss) | 9901 | €21,162 | €38,530 | +€17,368 | +82.1% |
| Financial income | 75/76B | €0 | €4 | +€4 | |
| Recurring financial income | 75 | €0 | €4 | +€4 | |
| Financial charges | 65/66B | €3,797 | €5,622 | +€1,825 | +48.1% |
| Recurring financial charges | 65 | €3,797 | €5,622 | +€1,825 | +48.1% |
| Profit (loss) for the period before taxes | 9903 | €17,365 | €32,912 | +€15,547 | +89.5% |
| Income taxes | 67/77 | €7,497 | €10,966 | +€3,469 | +46.3% |
| Profit (loss) for the period | 9904 | €9,868 | €21,946 | +€12,078 | +122% |
| Profit (loss) for the period to be appropriated | 9905 | €9,868 | €21,946 | +€12,078 | +122% |
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 14 October 2026 via checked.be.