AJK: 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.
AJK
Largest movements
- Cash +€24,085
up €24,085 (+126%), from €19,122 to €43,207
- Receivables within one year +€20,828
up €20,828 (+83.9%), from €24,833 to €45,661
of which Trade receivables: +€29,261
- Tangible fixed assets -€4,760
down €4,760 (-76.6%), from €6,218 to €1,458
of which Furniture and vehicles: -€4,454
- Trade debts +€15,770
up €15,770 (+122%), from €12,943 to €28,713
- Other debts +€13,736
new in 2025: €13,736
- Tax, wage and social debts +€6,809
up €6,809 (+70.3%), from €9,691 to €16,500
of which Taxes: +€4,673
- Profit (loss) carried forward +€3,695
up €3,695 (+15.2%), from €24,291 to €27,985
- Gross operating margin +€4,975
up €4,975 (+7.8%), from €63,886 to €68,861
- Other operating charges +€3,591
up €3,591 (+293%), from €1,224 to €4,814
- Depreciation +€1,037
up €1,037 (+81.5%), from €1,271 to €2,308
- Staff costs -€939
down €939 (-1.6%), from €58,934 to €57,994
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,666 | €93,676 | +€40,010 | +74.6% |
| Fixed assets | 21/28 | €9,568 | €4,808 | -€4,760 | -49.8% |
| Tangible fixed assets | 22/27 | €6,218 | €1,458 | -€4,760 | -76.6% |
| Plant, machinery and equipment | 23 | €449 | €142 | -€306 | -68.3% |
| Furniture and vehicles | 24 | €5,769 | €1,315 | -€4,454 | -77.2% |
| Financial fixed assets | 28 | €3,350 | €3,350 | = | 0.0% |
| Current assets | 29/58 | €44,099 | €88,868 | +€44,770 | +102% |
| Amounts receivable within one year | 40/41 | €24,833 | €45,661 | +€20,828 | +83.9% |
| Trade receivables | 40 | €14,629 | €43,890 | +€29,261 | +200% |
| Other amounts receivable | 41 | €10,204 | €1,771 | -€8,433 | -82.6% |
| Cash at bank and in hand | 54/58 | €19,122 | €43,207 | +€24,085 | +126% |
| Deferred charges and accrued income | 490/1 | €144 | - | -€144 | |
| Total equity and liabilities | 10/49 | €53,666 | €93,676 | +€40,010 | +74.6% |
| Equity | 10/15 | €31,033 | €34,727 | +€3,695 | +11.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €542 | €542 | = | 0.0% |
| Non-distributable reserves | 130/1 | €542 | €542 | = | 0.0% |
| Reserves not available under the articles | 1311 | €542 | €542 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,291 | €27,985 | +€3,695 | +15.2% |
| Amounts payable | 17/49 | €22,634 | €58,949 | +€36,315 | +160% |
| Amounts payable within one year | 42/48 | €22,634 | €58,949 | +€36,315 | +160% |
| Trade debts | 44 | €12,943 | €28,713 | +€15,770 | +122% |
| Suppliers | 440/4 | €12,943 | €28,713 | +€15,770 | +122% |
| Taxes, remuneration and social security | 45 | €9,691 | €16,500 | +€6,809 | +70.3% |
| Taxes | 450/3 | €4,534 | €9,206 | +€4,673 | +103% |
| Remuneration and social security | 454/9 | €5,157 | €7,294 | +€2,136 | +41.4% |
| Other amounts payable | 47/48 | - | €13,736 | +€13,736 | |
| Remuneration, social security and pensions | 62 | €58,934 | €57,994 | -€939 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,271 | €2,308 | +€1,037 | +81.5% |
| Other operating charges | 640/8 | €1,224 | €4,814 | +€3,591 | +293% |
| Gross operating margin | 9900 | €63,886 | €68,861 | +€4,975 | +7.8% |
| Operating profit (loss) | 9901 | €2,457 | €3,745 | +€1,287 | +52.4% |
| Financial income | 75/76B | €103 | - | -€103 | |
| Recurring financial income | 75 | €103 | - | -€103 | |
| Financial charges | 65/66B | €852 | €500 | -€352 | -41.3% |
| Recurring financial charges | 65 | €852 | €500 | -€352 | -41.3% |
| Profit (loss) for the period before taxes | 9903 | €1,709 | €3,245 | +€1,536 | +89.9% |
| Income taxes | 67/77 | €522 | €1,049 | +€528 | +101% |
| Profit (loss) for the period | 9904 | €1,188 | €2,195 | +€1,008 | +84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,188 | €2,195 | +€1,008 | +84.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.