AJLM: 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.
AJLM
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves +€106,671
up €106,671 (+39.3%), from €271,348 to €378,020
of which Distributable reserves: +€106,671
- Debts after one year -€96,794
down €96,794 (-22.6%), from €427,401 to €330,608
- Other debts +€57,224
up €57,224 (+8.7%), from €657,066 to €714,290
- Short-term financial debts -€53,164
down €53,164 (-35.5%), from €149,957 to €96,794
- Accrued charges and deferred income -€36,000
down €36,000 (-80.0%), from €45,000 to €9,000
- Taxes -€92,307
down €92,307 (-80.9%), from €114,046 to €21,739
- Gross operating margin +€73,832
up €73,832 (+9.6%), from €767,106 to €840,938
- Financial charges +€52,587
up €52,587 (+177.1%), from €29,697 to €82,283
- Staff costs +€34,277
up €34,277 (+8.5%), from €403,756 to €438,033
- Depreciation +€21,205
up €21,205 (+14.9%), from €141,842 to €163,047
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 | €3,012,026 | €2,969,233 | -€42,793 | -1.4% |
| Fixed assets | 21/28 | €2,883,547 | €2,864,257 | -€19,290 | -0.7% |
| Tangible fixed assets | 22/27 | €1,078,972 | €1,059,682 | -€19,290 | -1.8% |
| Land and buildings | 22 | €170 | €13,648 | +€13,478 | +7924.2% |
| Plant, machinery and equipment | 23 | €812,764 | €754,247 | -€58,518 | -7.2% |
| Furniture and vehicles | 24 | €9,584 | €7,680 | -€1,905 | -19.9% |
| Other tangible fixed assets | 26 | €256,453 | €284,107 | +€27,654 | +10.8% |
| Financial fixed assets | 28 | €1,804,575 | €1,804,575 | = | 0.0% |
| Current assets | 29/58 | €128,480 | €104,976 | -€23,503 | -18.3% |
| Stocks and contracts in progress | 3 | €17,034 | €16,402 | -€632 | -3.7% |
| Stocks | 30/36 | €17,034 | €16,402 | -€632 | -3.7% |
| Amounts receivable within one year | 40/41 | €86,433 | €62,839 | -€23,594 | -27.3% |
| Trade receivables | 40 | €76,825 | €45,686 | -€31,138 | -40.5% |
| Other amounts receivable | 41 | €9,608 | €17,153 | +€7,544 | +78.5% |
| Cash at bank and in hand | 54/58 | €25,013 | €25,736 | +€723 | +2.9% |
| Total equity and liabilities | 10/49 | €3,012,026 | €2,969,233 | -€42,793 | -1.4% |
| Equity | 10/15 | €1,609,689 | €1,716,360 | +€106,671 | +6.6% |
| Contributions | 10/11 | €679,579 | €679,579 | = | 0.0% |
| Reserves | 13 | €271,348 | €378,020 | +€106,671 | +39.3% |
| Tax-exempt reserves | 132 | €19,824 | €19,824 | = | 0.0% |
| Distributable reserves | 133 | €251,525 | €358,196 | +€106,671 | +42.4% |
| Profit (loss) carried forward | 14 | €658,762 | €658,762 | = | 0.0% |
| Amounts payable | 17/49 | €1,402,338 | €1,252,873 | -€149,465 | -10.7% |
| Amounts payable after more than one year | 17 | €427,401 | €330,608 | -€96,794 | -22.6% |
| Financial debts | 170/4 | €427,401 | €330,608 | -€96,794 | -22.6% |
| Amounts payable within one year | 42/48 | €929,936 | €913,265 | -€16,671 | -1.8% |
| Financial debts | 43 | €149,957 | €96,794 | -€53,164 | -35.5% |
| Credit institutions | 430/8 | €149,957 | €96,794 | -€53,164 | -35.5% |
| Trade debts | 44 | €29,455 | €12,518 | -€16,937 | -57.5% |
| Suppliers | 440/4 | €29,455 | €12,518 | -€16,937 | -57.5% |
| Advances received on contracts in progress | 46 | €7,047 | €10,345 | +€3,299 | +46.8% |
| Taxes, remuneration and social security | 45 | €86,411 | €79,319 | -€7,092 | -8.2% |
| Taxes | 450/3 | €65,440 | €40,493 | -€24,947 | -38.1% |
| Remuneration and social security | 454/9 | €20,971 | €38,826 | +€17,854 | +85.1% |
| Other amounts payable | 47/48 | €657,066 | €714,290 | +€57,224 | +8.7% |
| Accrued charges and deferred income | 492/3 | €45,000 | €9,000 | -€36,000 | -80.0% |
| Remuneration, social security and pensions | 62 | €403,756 | €438,033 | +€34,277 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,842 | €163,047 | +€21,205 | +14.9% |
| Other operating charges | 640/8 | €28,181 | €29,194 | +€1,013 | +3.6% |
| Gross operating margin | 9900 | €767,106 | €840,938 | +€73,832 | +9.6% |
| Operating profit (loss) | 9901 | €193,327 | €210,664 | +€17,337 | +9.0% |
| Financial income | 75/76B | €506 | €30 | -€476 | -94.1% |
| Recurring financial income | 75 | €506 | €30 | -€476 | -94.1% |
| Financial charges | 65/66B | €29,697 | €82,283 | +€52,587 | +177.1% |
| Recurring financial charges | 65 | €29,697 | €82,283 | +€52,587 | +177.1% |
| Profit (loss) for the period before taxes | 9903 | €164,136 | €128,411 | -€35,725 | -21.8% |
| Income taxes | 67/77 | €114,046 | €21,739 | -€92,307 | -80.9% |
| Profit (loss) for the period | 9904 | €50,090 | €106,671 | +€56,581 | +113.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,090 | €106,671 | +€56,581 | +113.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.