AJM CAR: 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.
AJM CAR
Largest movements
- Stocks and contracts -€53,878
down €53,878 (-7.2%), from €751,726 to €697,848
- Receivables within one year +€52,768
up €52,768 (+6.8%), from €779,017 to €831,785
of which Other amounts receivable: +€55,682
- Tangible fixed assets -€21,702
down €21,702 (-20.3%), from €106,764 to €85,062
of which Furniture and vehicles: -€20,545
- Other debts -€59,938
down €59,938 (-6.5%), from €922,189 to €862,251
- Tax, wage and social debts +€29,584
up €29,584 (+88.1%), from €33,580 to €63,164
- Depreciation +€17,757
up €17,757 (+450%), from €3,944 to €21,702
- Financial income +€3,803
up €3,803 (+1,011%), from €376 to €4,179
- Other operating charges -€2,481
down €2,481 (-27.0%), from €9,186 to €6,705
- Taxes -€1,930
down €1,930 (-41.7%), from €4,625 to €2,696
- Gross operating margin -€1,462
down €1,462 (-2.4%), from €61,389 to €59,927
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 | €1,654,750 | €1,629,901 | -€24,848 | -1.5% |
| Fixed assets | 21/28 | €108,386 | €86,685 | -€21,702 | -20.0% |
| Tangible fixed assets | 22/27 | €106,764 | €85,062 | -€21,702 | -20.3% |
| Land and buildings | 22 | €4,176 | €3,376 | -€800 | -19.2% |
| Furniture and vehicles | 24 | €100,086 | €79,541 | -€20,545 | -20.5% |
| Other tangible fixed assets | 26 | €2,501 | €2,145 | -€357 | -14.3% |
| Financial fixed assets | 28 | €1,623 | €1,623 | = | 0.0% |
| Current assets | 29/58 | €1,546,363 | €1,543,217 | -€3,147 | -0.2% |
| Stocks and contracts in progress | 3 | €751,726 | €697,848 | -€53,878 | -7.2% |
| Stocks | 30/36 | €751,726 | €697,848 | -€53,878 | -7.2% |
| Amounts receivable within one year | 40/41 | €779,017 | €831,785 | +€52,768 | +6.8% |
| Trade receivables | 40 | €5,848 | €2,934 | -€2,914 | -49.8% |
| Other amounts receivable | 41 | €773,169 | €828,851 | +€55,682 | +7.2% |
| Cash at bank and in hand | 54/58 | €9,616 | €2,044 | -€7,572 | -78.7% |
| Deferred charges and accrued income | 490/1 | €6,004 | €11,540 | +€5,536 | +92.2% |
| Total equity and liabilities | 10/49 | €1,654,750 | €1,629,901 | -€24,848 | -1.5% |
| Equity | 10/15 | €542,684 | €544,818 | +€2,134 | +0.4% |
| Contributions | 10/11 | €353,248 | €353,248 | = | 0.0% |
| Capital | 10 | €353,248 | €353,248 | = | 0.0% |
| Issued capital | 100 | €353,248 | €353,248 | = | 0.0% |
| Reserves | 13 | €212,914 | €212,914 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €191,065 | €191,065 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,478 | -€21,345 | +€2,134 | +9.1% |
| Amounts payable | 17/49 | €1,112,066 | €1,085,084 | -€26,982 | -2.4% |
| Amounts payable after more than one year | 17 | €72,840 | €61,981 | -€10,859 | -14.9% |
| Financial debts | 170/4 | €72,840 | €61,981 | -€10,859 | -14.9% |
| Amounts payable within one year | 42/48 | €1,039,226 | €1,023,103 | -€16,123 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €15,096 | €13,910 | -€1,186 | -7.9% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €13,761 | €29,178 | +€15,417 | +112% |
| Suppliers | 440/4 | €13,761 | €29,178 | +€15,417 | +112% |
| Advances received on contracts in progress | 46 | €4,600 | €4,600 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €33,580 | €63,164 | +€29,584 | +88.1% |
| Taxes | 450/3 | €33,580 | €63,164 | +€29,584 | +88.1% |
| Other amounts payable | 47/48 | €922,189 | €862,251 | -€59,938 | -6.5% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,944 | €21,702 | +€17,757 | +450% |
| Other operating charges | 640/8 | €9,186 | €6,705 | -€2,481 | -27.0% |
| Gross operating margin | 9900 | €61,389 | €59,927 | -€1,462 | -2.4% |
| Operating profit (loss) | 9901 | €48,259 | €31,520 | -€16,738 | -34.7% |
| Financial income | 75/76B | €376 | €4,179 | +€3,803 | +1,011% |
| Recurring financial income | 75 | €376 | €4,179 | +€3,803 | +1,011% |
| Financial charges | 65/66B | €29,622 | €30,870 | +€1,248 | +4.2% |
| Recurring financial charges | 65 | €29,622 | €30,870 | +€1,248 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €19,013 | €4,829 | -€14,184 | -74.6% |
| Income taxes | 67/77 | €4,625 | €2,696 | -€1,930 | -41.7% |
| Profit (loss) for the period | 9904 | €14,388 | €2,134 | -€12,254 | -85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,388 | €2,134 | -€12,254 | -85.2% |
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.