AJN ManCo: 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.
AJN ManCo
Largest movements
- Cash +€46,926
up €46,926 (+129%), from €36,386 to €83,312
mainly Net result for the year (+€33,019) and Receivables within one year (+€9,174)
- Receivables within one year -€9,174
no longer reported in 2025 (was €9,174)
- Tangible fixed assets -€1,206
down €1,206 (-23.5%), from €5,127 to €3,921
- Reserves +€33,019
up €33,019 (+105%), from €31,501 to €64,520
- Other debts +€1,908
up €1,908 (+77.0%), from €2,477 to €4,385
- Tax, wage and social debts +€1,784
up €1,784 (+14.2%), from €12,544 to €14,328
- Gross operating margin +€2,782
up €2,782 (+6.8%), from €40,708 to €43,489
- Taxes +€706
up €706 (+8.6%), from €8,230 to €8,937
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 | €50,687 | €87,233 | +€36,546 | +72.1% |
| Fixed assets | 21/28 | €5,127 | €3,921 | -€1,206 | -23.5% |
| Tangible fixed assets | 22/27 | €5,127 | €3,921 | -€1,206 | -23.5% |
| Furniture and vehicles | 24 | €5,127 | €3,921 | -€1,206 | -23.5% |
| Current assets | 29/58 | €45,560 | €83,312 | +€37,753 | +82.9% |
| Amounts receivable within one year | 40/41 | €9,174 | - | -€9,174 | |
| Trade receivables | 40 | €9,174 | - | -€9,174 | |
| Cash at bank and in hand | 54/58 | €36,386 | €83,312 | +€46,926 | +129% |
| Total equity and liabilities | 10/49 | €50,687 | €87,233 | +€36,546 | +72.1% |
| Equity | 10/15 | €35,501 | €68,520 | +€33,019 | +93.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Contributions outside capital | 11 | €4,000 | €4,000 | = | 0.0% |
| Other | 1109/19 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €31,501 | €64,520 | +€33,019 | +105% |
| Distributable reserves | 133 | €31,501 | €64,520 | +€33,019 | +105% |
| Amounts payable | 17/49 | €15,185 | €18,713 | +€3,528 | +23.2% |
| Amounts payable within one year | 42/48 | €15,185 | €18,713 | +€3,528 | +23.2% |
| Trade debts | 44 | €164 | - | -€164 | |
| Suppliers | 440/4 | €164 | - | -€164 | |
| Taxes, remuneration and social security | 45 | €12,544 | €14,328 | +€1,784 | +14.2% |
| Taxes | 450/3 | €12,544 | €14,328 | +€1,784 | +14.2% |
| Other amounts payable | 47/48 | €2,477 | €4,385 | +€1,908 | +77.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €905 | €1,206 | +€302 | +33.3% |
| Other operating charges | 640/8 | €63 | - | -€63 | |
| Gross operating margin | 9900 | €40,708 | €43,489 | +€2,782 | +6.8% |
| Operating profit (loss) | 9901 | €39,740 | €42,283 | +€2,543 | +6.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €8 | €328 | +€320 | +4,015% |
| Recurring financial charges | 65 | €8 | €328 | +€320 | +4,015% |
| Profit (loss) for the period before taxes | 9903 | €39,732 | €41,955 | +€2,223 | +5.6% |
| Income taxes | 67/77 | €8,230 | €8,937 | +€706 | +8.6% |
| Profit (loss) for the period | 9904 | €31,501 | €33,019 | +€1,517 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,501 | €33,019 | +€1,517 | +4.8% |
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 15 October 2026 via checked.be.