AJD33: what changed
Two fiscal 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.
AJD33
Largest movements
- Receivables within one year +€25,932
up €25,932 (+44.4%), from €58,461 to €84,393
of which Trade receivables: +€24,047
- Cash -€4,585
down €4,585 (-19.8%), from €23,116 to €18,531
mainly Receivables within one year (-€25,932) and Investment in fixed assets (net) (-€2,767)
- Stocks and contracts -€3,641
down €3,641 (-25.1%), from €14,486 to €10,845
- Tangible fixed assets +€1,713
up €1,713 (+98.9%), from €1,733 to €3,446
of which Furniture and vehicles: +€1,973
- Trade debts +€12,420
up €12,420 (+19.2%), from €64,776 to €77,197
- Profit (loss) carried forward +€6,663
up €6,663 (+75.0%), from -€8,890 to -€2,227
- Tax, wage and social debts +€3,129
up €3,129 (+26.2%), from €11,940 to €15,069
of which Remuneration and social security: +€6,295
- Current portion of long-term debt -€2,719
no longer reported in 2025 (was €2,719)
- Gross operating margin -€26,933
down €26,933 (-50.8%), from €52,986 to €26,053
- Staff costs -€23,119
down €23,119 (-55.7%), from €41,477 to €18,358
- Taxes -€6,156
down €6,156, from €3,108 to -€3,048
- Depreciation -€2,516
down €2,516 (-70.5%), from €3,569 to €1,053
- Other operating charges +€1,494
up €1,494 (+93.3%), from €1,602 to €3,096
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 | €100,346 | €119,839 | +€19,493 | +19.4% |
| Fixed assets | 21/28 | €4,283 | €5,996 | +€1,713 | +40.0% |
| Tangible fixed assets | 22/27 | €1,733 | €3,446 | +€1,713 | +98.9% |
| Furniture and vehicles | 24 | €339 | €2,312 | +€1,973 | +582.6% |
| Other tangible fixed assets | 26 | €1,394 | €1,134 | -€260 | -18.6% |
| Financial fixed assets | 28 | €2,550 | €2,550 | = | 0.0% |
| Current assets | 29/58 | €96,063 | €113,843 | +€17,780 | +18.5% |
| Stocks and contracts in progress | 3 | €14,486 | €10,845 | -€3,641 | -25.1% |
| Stocks | 30/36 | €14,486 | €10,845 | -€3,641 | -25.1% |
| Amounts receivable within one year | 40/41 | €58,461 | €84,393 | +€25,932 | +44.4% |
| Trade receivables | 40 | €47,416 | €71,462 | +€24,047 | +50.7% |
| Other amounts receivable | 41 | €11,045 | €12,931 | +€1,886 | +17.1% |
| Cash at bank and in hand | 54/58 | €23,116 | €18,531 | -€4,585 | -19.8% |
| Deferred charges and accrued income | 490/1 | - | €74 | +€74 | |
| Total equity and liabilities | 10/49 | €100,346 | €119,839 | +€19,493 | +19.4% |
| Equity | 10/15 | €1,110 | €7,773 | +€6,663 | +600.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,890 | -€2,227 | +€6,663 | +75.0% |
| Amounts payable | 17/49 | €99,236 | €112,066 | +€12,830 | +12.9% |
| Amounts payable within one year | 42/48 | €99,236 | €112,066 | +€12,830 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €2,719 | - | -€2,719 | |
| Trade debts | 44 | €64,776 | €77,197 | +€12,420 | +19.2% |
| Suppliers | 440/4 | €64,776 | €77,197 | +€12,420 | +19.2% |
| Taxes, remuneration and social security | 45 | €11,940 | €15,069 | +€3,129 | +26.2% |
| Taxes | 450/3 | €6,416 | €3,250 | -€3,166 | -49.3% |
| Remuneration and social security | 454/9 | €5,524 | €11,819 | +€6,295 | +114.0% |
| Other amounts payable | 47/48 | €19,800 | €19,800 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €41,477 | €18,358 | -€23,119 | -55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,569 | €1,053 | -€2,516 | -70.5% |
| Other operating charges | 640/8 | €1,602 | €3,096 | +€1,494 | +93.3% |
| Gross operating margin | 9900 | €52,986 | €26,053 | -€26,933 | -50.8% |
| Operating profit (loss) | 9901 | €6,339 | €3,547 | -€2,792 | -44.1% |
| Financial income | 75/76B | €7 | €757 | +€750 | +10172.7% |
| Recurring financial income | 75 | €7 | €757 | +€750 | +10172.7% |
| Financial charges | 65/66B | €992 | €688 | -€304 | -30.6% |
| Recurring financial charges | 65 | €992 | €688 | -€304 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €5,355 | €3,616 | -€1,739 | -32.5% |
| Income taxes | 67/77 | €3,108 | -€3,048 | -€6,156 | |
| Profit (loss) for the period | 9904 | €2,247 | €6,663 | +€4,417 | +196.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,247 | €6,663 | +€4,417 | +196.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.