AJ Smile: 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 Smile
Largest movements
- Tangible fixed assets +€395,889
up €395,889 (+40.8%), from €969,683 to €1.4m
of which Land and buildings: +€251,210
- Cash +€41,027
up €41,027 (+396%), from €10,350 to €51,377
mainly Debts after one year (+€370,366) and Depreciation (+€80,393)
- Debts after one year +€370,366
up €370,366 (+39.6%), from €935,268 to €1.3m
- Current portion of long-term debt +€66,582
up €66,582 (+605%), from €11,012 to €77,594
- Trade debts -€28,492
down €28,492 (-75.6%), from €37,706 to €9,214
- Other debts +€25,592
up €25,592 (+19.7%), from €129,988 to €155,580
- Gross operating margin +€204,912
up €204,912, from -€11,785 to €193,127
- Staff costs +€60,532
new in 2025: €60,532
- Depreciation +€45,119
up €45,119 (+128%), from €35,275 to €80,393
- Financial charges +€15,098
up €15,098 (+43.0%), from €35,082 to €50,180
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 | €980,310 | €1,433,216 | +€452,906 | +46.2% |
| Fixed assets | 21/28 | €969,683 | €1,365,935 | +€396,252 | +40.9% |
| Tangible fixed assets | 22/27 | €969,683 | €1,365,572 | +€395,889 | +40.8% |
| Land and buildings | 22 | €876,046 | €1,127,256 | +€251,210 | +28.7% |
| Plant, machinery and equipment | 23 | €93,637 | €236,089 | +€142,453 | +152% |
| Furniture and vehicles | 24 | - | €2,227 | +€2,227 | |
| Financial fixed assets | 28 | - | €363 | +€363 | |
| Current assets | 29/58 | €10,627 | €67,282 | +€56,654 | +533% |
| Stocks and contracts in progress | 3 | - | €6,422 | +€6,422 | |
| Stocks | 30/36 | - | €6,422 | +€6,422 | |
| Amounts receivable within one year | 40/41 | - | €2,762 | +€2,762 | |
| Trade receivables | 40 | - | €2,762 | +€2,762 | |
| Cash at bank and in hand | 54/58 | €10,350 | €51,377 | +€41,027 | +396% |
| Deferred charges and accrued income | 490/1 | €278 | €6,721 | +€6,443 | +2,319% |
| Total equity and liabilities | 10/49 | €980,310 | €1,433,216 | +€452,906 | +46.2% |
| Equity | 10/15 | -€133,665 | -€132,523 | +€1,142 | +0.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€183,665 | -€182,523 | +€1,142 | +0.6% |
| Amounts payable | 17/49 | €1,113,975 | €1,565,739 | +€451,765 | +40.6% |
| Amounts payable after more than one year | 17 | €935,268 | €1,305,634 | +€370,366 | +39.6% |
| Financial debts | 170/4 | €935,268 | €1,305,634 | +€370,366 | +39.6% |
| Amounts payable within one year | 42/48 | €178,706 | €250,529 | +€71,823 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | €11,012 | €77,594 | +€66,582 | +605% |
| Trade debts | 44 | €37,706 | €9,214 | -€28,492 | -75.6% |
| Suppliers | 440/4 | €37,706 | €9,214 | -€28,492 | -75.6% |
| Taxes, remuneration and social security | 45 | - | €8,140 | +€8,140 | |
| Remuneration and social security | 454/9 | - | €8,140 | +€8,140 | |
| Other amounts payable | 47/48 | €129,988 | €155,580 | +€25,592 | +19.7% |
| Accrued charges and deferred income | 492/3 | - | €9,576 | +€9,576 | |
| Remuneration, social security and pensions | 62 | - | €60,532 | +€60,532 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,275 | €80,393 | +€45,119 | +128% |
| Other operating charges | 640/8 | €854 | €881 | +€27 | +3.2% |
| Gross operating margin | 9900 | -€11,785 | €193,127 | +€204,912 | |
| Operating profit (loss) | 9901 | -€47,913 | €51,320 | +€99,234 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €35,082 | €50,180 | +€15,098 | +43.0% |
| Recurring financial charges | 65 | €35,082 | €50,180 | +€15,098 | +43.0% |
| Profit (loss) for the period before taxes | 9903 | -€82,996 | €1,142 | +€84,137 | |
| Profit (loss) for the period | 9904 | -€82,996 | €1,142 | +€84,137 | |
| Profit (loss) for the period to be appropriated | 9905 | -€82,996 | €1,142 | +€84,137 |
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 23 October 2026 via checked.be.