AJDO: 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.
AJDO
Largest movements
- Cash +€213,999
up €213,999 (+87.1%), from €245,582 to €459,581
mainly Net result for the year (+€176,703) and Advances received (+€113,901)
- Stocks and contracts +€70,483
up €70,483 (+79.2%), from €89,000 to €159,483
- Tangible fixed assets -€49,213
down €49,213 (-13.5%), from €363,512 to €314,299
of which Other tangible fixed assets: -€35,417
- Receivables within one year +€38,744
up €38,744 (+15.5%), from €249,297 to €288,041
- Intangible fixed assets -€13,788
down €13,788 (-29.1%), from €47,317 to €33,529
- Profit (loss) carried forward +€176,703
up €176,703, from -€57,558 to €119,146
- Advances received +€113,901
up €113,901 (+23.9%), from €477,303 to €591,204
- Debts after one year -€72,537
down €72,537 (-22.0%), from €329,228 to €256,691
- Tax, wage and social debts +€56,752
up €56,752 (+136%), from €41,668 to €98,420
of which Taxes: +€46,801
- Trade debts -€24,856
down €24,856 (-45.3%), from €54,925 to €30,069
- Gross operating margin +€262,798
up €262,798 (+143%), from €184,164 to €446,962
- Taxes +€39,982
up €39,982 (+31,236%), from €128 to €40,110
- Financial income +€26,830
up €26,830 (+110%), from €24,484 to €51,314
- Staff costs +€18,097
up €18,097 (+10.8%), from €166,943 to €185,040
- Financial charges -€9,570
down €9,570 (-34.2%), from €28,007 to €18,438
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 | €1,005,173 | €1,266,845 | +€261,672 | +26.0% |
| Fixed assets | 21/28 | €410,829 | €348,058 | -€62,771 | -15.3% |
| Intangible fixed assets | 21 | €47,317 | €33,529 | -€13,788 | -29.1% |
| Tangible fixed assets | 22/27 | €363,512 | €314,299 | -€49,213 | -13.5% |
| Plant, machinery and equipment | 23 | €25,660 | €15,325 | -€10,335 | -40.3% |
| Furniture and vehicles | 24 | €19,797 | €16,336 | -€3,461 | -17.5% |
| Other tangible fixed assets | 26 | €318,055 | €282,638 | -€35,417 | -11.1% |
| Financial fixed assets | 28 | - | €230 | +€230 | |
| Current assets | 29/58 | €594,345 | €918,787 | +€324,442 | +54.6% |
| Stocks and contracts in progress | 3 | €89,000 | €159,483 | +€70,483 | +79.2% |
| Stocks | 30/36 | €89,000 | €159,483 | +€70,483 | +79.2% |
| Amounts receivable within one year | 40/41 | €249,297 | €288,041 | +€38,744 | +15.5% |
| Trade receivables | 40 | €249,297 | €288,041 | +€38,744 | +15.5% |
| Cash at bank and in hand | 54/58 | €245,582 | €459,581 | +€213,999 | +87.1% |
| Deferred charges and accrued income | 490/1 | €10,466 | €11,683 | +€1,216 | +11.6% |
| Total equity and liabilities | 10/49 | €1,005,173 | €1,266,845 | +€261,672 | +26.0% |
| Equity | 10/15 | €42,442 | €219,146 | +€176,703 | +416% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,558 | €119,146 | +€176,703 | |
| Amounts payable | 17/49 | €962,731 | €1,047,699 | +€84,968 | +8.8% |
| Amounts payable after more than one year | 17 | €329,228 | €256,691 | -€72,537 | -22.0% |
| Financial debts | 170/4 | €329,228 | €256,691 | -€72,537 | -22.0% |
| Amounts payable within one year | 42/48 | €633,503 | €791,009 | +€157,506 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €58,472 | €70,297 | +€11,825 | +20.2% |
| Trade debts | 44 | €54,925 | €30,069 | -€24,856 | -45.3% |
| Suppliers | 440/4 | €54,925 | €30,069 | -€24,856 | -45.3% |
| Advances received on contracts in progress | 46 | €477,303 | €591,204 | +€113,901 | +23.9% |
| Taxes, remuneration and social security | 45 | €41,668 | €98,420 | +€56,752 | +136% |
| Taxes | 450/3 | €28,469 | €75,269 | +€46,801 | +164% |
| Remuneration and social security | 454/9 | €13,199 | €23,150 | +€9,951 | +75.4% |
| Other amounts payable | 47/48 | €1,135 | €1,019 | -€117 | -10.3% |
| Remuneration, social security and pensions | 62 | €166,943 | €185,040 | +€18,097 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,198 | €63,001 | +€3,803 | +6.4% |
| Other operating charges | 640/8 | €11,930 | €14,984 | +€3,054 | +25.6% |
| Gross operating margin | 9900 | €184,164 | €446,962 | +€262,798 | +143% |
| Operating profit (loss) | 9901 | -€53,906 | €183,937 | +€237,843 | |
| Financial income | 75/76B | €24,484 | €51,314 | +€26,830 | +110% |
| Recurring financial income | 75 | €24,484 | €51,314 | +€26,830 | +110% |
| Financial charges | 65/66B | €28,007 | €18,438 | -€9,570 | -34.2% |
| Recurring financial charges | 65 | €28,007 | €18,438 | -€9,570 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | -€57,430 | €216,814 | +€274,244 | |
| Income taxes | 67/77 | €128 | €40,110 | +€39,982 | +31,236% |
| Profit (loss) for the period | 9904 | -€57,558 | €176,703 | +€234,261 | |
| Profit (loss) for the period to be appropriated | 9905 | -€57,558 | €176,703 | +€234,261 |
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 26 October 2026 via checked.be.