AJCO 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.
AJCO MANAGEMENT
Largest movements
- Receivables within one year +€61,170
up €61,170 (+942%), from €6,492 to €67,662
of which Other amounts receivable: +€49,854
- Cash +€25,635
up €25,635 (+209%), from €12,262 to €37,896
mainly Net result for the year (+€132,510) and Trade debts (+€15,152)
- Profit (loss) carried forward +€125,884
up €125,884 (+183%), from €68,960 to €194,845
- Debts after one year -€63,651
down €63,651 (-19.0%), from €335,337 to €271,686
- Trade debts +€15,152
up €15,152 (+31,075%), from €49 to €15,201
- Financial income +€41,554
new in 2025: €41,554
- Gross operating margin +€32,543
up €32,543 (+32.0%), from €101,734 to €134,277
- Taxes +€9,370
up €9,370 (+59.5%), from €15,735 to €25,105
- Financial charges -€5,311
down €5,311 (-23.8%), from €22,356 to €17,045
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 | €612,424 | €701,090 | +€88,666 | +14.5% |
| Fixed assets | 21/28 | €593,671 | €593,978 | +€307 | +0.1% |
| Tangible fixed assets | 22/27 | €1,004 | €1,311 | +€307 | +30.6% |
| Furniture and vehicles | 24 | €1,004 | €1,311 | +€307 | +30.6% |
| Financial fixed assets | 28 | €592,667 | €592,667 | = | 0.0% |
| Current assets | 29/58 | €18,753 | €107,112 | +€88,358 | +471% |
| Amounts receivable within one year | 40/41 | €6,492 | €67,662 | +€61,170 | +942% |
| Trade receivables | 40 | €6,492 | €17,808 | +€11,316 | +174% |
| Other amounts receivable | 41 | - | €49,854 | +€49,854 | |
| Cash at bank and in hand | 54/58 | €12,262 | €37,896 | +€25,635 | +209% |
| Deferred charges and accrued income | 490/1 | - | €1,553 | +€1,553 | |
| Total equity and liabilities | 10/49 | €612,424 | €701,090 | +€88,666 | +14.5% |
| Equity | 10/15 | €205,113 | €337,623 | +€132,510 | +64.6% |
| Contributions | 10/11 | €132,000 | €132,000 | = | 0.0% |
| Capital | 10 | €132,000 | €132,000 | = | 0.0% |
| Issued capital | 100 | €132,000 | €132,000 | = | 0.0% |
| Reserves | 13 | €4,153 | €10,779 | +€6,626 | +160% |
| Non-distributable reserves | 130/1 | €4,153 | €10,779 | +€6,626 | +160% |
| Legal reserve | 130 | €4,153 | €10,779 | +€6,626 | +160% |
| Profit (loss) carried forward | 14 | €68,960 | €194,845 | +€125,884 | +183% |
| Amounts payable | 17/49 | €407,311 | €363,466 | -€43,844 | -10.8% |
| Amounts payable after more than one year | 17 | €335,337 | €271,686 | -€63,651 | -19.0% |
| Financial debts | 170/4 | €335,337 | €271,686 | -€63,651 | -19.0% |
| Amounts payable within one year | 42/48 | €68,755 | €88,213 | +€19,458 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €60,910 | €63,651 | +€2,741 | +4.5% |
| Trade debts | 44 | €49 | €15,201 | +€15,152 | +31,075% |
| Suppliers | 440/4 | €49 | €15,201 | +€15,152 | +31,075% |
| Taxes, remuneration and social security | 45 | €7,651 | €9,361 | +€1,710 | +22.4% |
| Taxes | 450/3 | €7,651 | €9,361 | +€1,710 | +22.4% |
| Other amounts payable | 47/48 | €146 | - | -€146 | |
| Accrued charges and deferred income | 492/3 | €3,219 | €3,568 | +€349 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165 | €725 | +€560 | +341% |
| Other operating charges | 640/8 | €839 | €446 | -€394 | -46.9% |
| Gross operating margin | 9900 | €101,734 | €134,277 | +€32,543 | +32.0% |
| Operating profit (loss) | 9901 | €100,730 | €133,106 | +€32,376 | +32.1% |
| Financial income | 75/76B | - | €41,554 | +€41,554 | |
| Recurring financial income | 75 | - | €41,554 | +€41,554 | |
| Financial charges | 65/66B | €22,356 | €17,045 | -€5,311 | -23.8% |
| Recurring financial charges | 65 | €22,356 | €17,045 | -€5,311 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €78,373 | €157,615 | +€79,242 | +101% |
| Income taxes | 67/77 | €15,735 | €25,105 | +€9,370 | +59.5% |
| Profit (loss) for the period | 9904 | €62,638 | €132,510 | +€69,872 | +112% |
| Profit (loss) for the period to be appropriated | 9905 | €62,638 | €132,510 | +€69,872 | +112% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.