AJG 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.
AJG MANAGEMENT
Largest movements
- Cash +€29,089
up €29,089 (+69.6%), from €41,777 to €70,866
mainly Net result for the year (+€68,474) and Depreciation (+€34,072)
- Tangible fixed assets -€28,880
down €28,880 (-6.2%), from €466,501 to €437,621
of which Furniture and vehicles: -€19,952
- Profit (loss) carried forward +€68,474
up €68,474 (+75.8%), from €90,326 to €158,800
- Other debts -€62,007
down €62,007 (-74.9%), from €82,791 to €20,784
- Debts after one year -€35,294
down €35,294 (-8.9%), from €398,096 to €362,802
- Tax, wage and social debts +€27,566
up €27,566 (+83.3%), from €33,094 to €60,660
- Depreciation +€17,288
up €17,288 (+103%), from €16,784 to €34,072
- Financial charges +€8,627
up €8,627 (+164%), from €5,257 to €13,883
- Gross operating margin -€6,919
down €6,919 (-4.6%), from €149,222 to €142,303
- Taxes -€5,866
down €5,866 (-18.2%), from €32,258 to €26,392
- Other operating charges -€3,160
down €3,160 (-52.1%), from €6,068 to €2,908
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 | €641,350 | €641,642 | +€293 | 0.0% |
| Fixed assets | 21/28 | €592,501 | €563,621 | -€28,880 | -4.9% |
| Tangible fixed assets | 22/27 | €466,501 | €437,621 | -€28,880 | -6.2% |
| Land and buildings | 22 | €333,873 | €325,123 | -€8,750 | -2.6% |
| Plant, machinery and equipment | 23 | €24,357 | €24,178 | -€179 | -0.7% |
| Furniture and vehicles | 24 | €102,091 | €82,140 | -€19,952 | -19.5% |
| Other tangible fixed assets | 26 | €6,180 | €6,180 | = | 0.0% |
| Financial fixed assets | 28 | €126,000 | €126,000 | = | 0.0% |
| Current assets | 29/58 | €48,849 | €78,022 | +€29,173 | +59.7% |
| Amounts receivable within one year | 40/41 | €500 | €1,500 | +€1,000 | +200% |
| Other amounts receivable | 41 | €500 | €1,500 | +€1,000 | +200% |
| Cash at bank and in hand | 54/58 | €41,777 | €70,866 | +€29,089 | +69.6% |
| Deferred charges and accrued income | 490/1 | €6,572 | €5,656 | -€916 | -13.9% |
| Total equity and liabilities | 10/49 | €641,350 | €641,642 | +€293 | 0.0% |
| Equity | 10/15 | €92,326 | €160,800 | +€68,474 | +74.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,326 | €158,800 | +€68,474 | +75.8% |
| Amounts payable | 17/49 | €549,024 | €480,842 | -€68,182 | -12.4% |
| Amounts payable after more than one year | 17 | €398,096 | €362,802 | -€35,294 | -8.9% |
| Financial debts | 170/4 | €398,096 | €362,802 | -€35,294 | -8.9% |
| Amounts payable within one year | 42/48 | €150,928 | €118,040 | -€32,887 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €34,206 | €35,294 | +€1,088 | +3.2% |
| Trade debts | 44 | €837 | €1,303 | +€466 | +55.7% |
| Suppliers | 440/4 | €837 | €1,303 | +€466 | +55.7% |
| Taxes, remuneration and social security | 45 | €33,094 | €60,660 | +€27,566 | +83.3% |
| Taxes | 450/3 | €33,094 | €60,660 | +€27,566 | +83.3% |
| Other amounts payable | 47/48 | €82,791 | €20,784 | -€62,007 | -74.9% |
| Non-recurring operating income | 76A | - | €11 | +€11 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,784 | €34,072 | +€17,288 | +103% |
| Other operating charges | 640/8 | €6,068 | €2,908 | -€3,160 | -52.1% |
| Non-recurring operating charges | 66A | €357 | €948 | +€591 | +165% |
| Gross operating margin | 9900 | €149,222 | €142,303 | -€6,919 | -4.6% |
| Operating profit (loss) | 9901 | €126,012 | €104,375 | -€21,637 | -17.2% |
| Financial income | 75/76B | €1,829 | €4,375 | +€2,546 | +139% |
| Recurring financial income | 75 | €1,829 | €4,375 | +€2,546 | +139% |
| Financial charges | 65/66B | €5,257 | €13,883 | +€8,627 | +164% |
| Recurring financial charges | 65 | €5,257 | €13,883 | +€8,627 | +164% |
| Profit (loss) for the period before taxes | 9903 | €122,584 | €94,866 | -€27,718 | -22.6% |
| Income taxes | 67/77 | €32,258 | €26,392 | -€5,866 | -18.2% |
| Profit (loss) for the period | 9904 | €90,326 | €68,474 | -€21,852 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €90,326 | €68,474 | -€21,852 | -24.2% |
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 16 October 2026 via checked.be.