AJOGEE: 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.
AJOGEE
Largest movements
- Cash +€56,044
up €56,044 (+97.9%), from €57,237 to €113,281
mainly Net result for the year (+€73,697) and Tax, wage and social debts (+€28,946)
- Current investments +€30,000
up €30,000 (+120%), from €25,000 to €55,000
- Receivables within one year +€11,330
up €11,330 (+251%), from €4,510 to €15,840
of which Trade receivables: +€11,220
- Deferred charges and accrued income -€3,785
down €3,785 (-53.7%), from €7,044 to €3,260
- Profit (loss) carried forward +€73,697
up €73,697 (+123%), from €59,739 to €133,436
- Tax, wage and social debts +€28,946
up €28,946 (+146%), from €19,763 to €48,709
- Other debts -€7,183
down €7,183 (-57.9%), from €12,395 to €5,212
- Trade debts -€3,105
down €3,105 (-70.5%), from €4,408 to €1,303
- Gross operating margin +€19,790
up €19,790 (+24.6%), from €80,372 to €100,163
- Taxes +€5,170
up €5,170 (+25.8%), from €20,037 to €25,208
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 | €99,304 | €191,659 | +€92,355 | +93.0% |
| Fixed assets | 21/28 | €5,513 | €4,278 | -€1,235 | -22.4% |
| Tangible fixed assets | 22/27 | €5,513 | €4,278 | -€1,235 | -22.4% |
| Plant, machinery and equipment | 23 | €5,513 | €4,278 | -€1,235 | -22.4% |
| Current assets | 29/58 | €93,791 | €187,381 | +€93,590 | +99.8% |
| Amounts receivable within one year | 40/41 | €4,510 | €15,840 | +€11,330 | +251% |
| Trade receivables | 40 | €4,510 | €15,730 | +€11,220 | +249% |
| Other amounts receivable | 41 | - | €110 | +€110 | |
| Current investments | 50/53 | €25,000 | €55,000 | +€30,000 | +120% |
| Cash at bank and in hand | 54/58 | €57,237 | €113,281 | +€56,044 | +97.9% |
| Deferred charges and accrued income | 490/1 | €7,044 | €3,260 | -€3,785 | -53.7% |
| Total equity and liabilities | 10/49 | €99,304 | €191,659 | +€92,355 | +93.0% |
| Equity | 10/15 | €62,739 | €136,436 | +€73,697 | +117% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,739 | €133,436 | +€73,697 | +123% |
| Amounts payable | 17/49 | €36,566 | €55,223 | +€18,658 | +51.0% |
| Amounts payable within one year | 42/48 | €36,566 | €55,223 | +€18,658 | +51.0% |
| Trade debts | 44 | €4,408 | €1,303 | -€3,105 | -70.5% |
| Suppliers | 440/4 | €4,408 | €1,303 | -€3,105 | -70.5% |
| Taxes, remuneration and social security | 45 | €19,763 | €48,709 | +€28,946 | +146% |
| Taxes | 450/3 | €19,763 | €48,709 | +€28,946 | +146% |
| Other amounts payable | 47/48 | €12,395 | €5,212 | -€7,183 | -57.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €662 | €1,235 | +€573 | +86.5% |
| Other operating charges | 640/8 | €815 | €585 | -€229 | -28.1% |
| Gross operating margin | 9900 | €80,372 | €100,163 | +€19,790 | +24.6% |
| Operating profit (loss) | 9901 | €78,895 | €98,342 | +€19,447 | +24.6% |
| Financial income | 75/76B | €916 | €1,119 | +€204 | +22.3% |
| Recurring financial income | 75 | €916 | €1,119 | +€204 | +22.3% |
| Financial charges | 65/66B | €35 | €557 | +€522 | +1,506% |
| Recurring financial charges | 65 | €35 | €557 | +€522 | +1,506% |
| Profit (loss) for the period before taxes | 9903 | €79,776 | €98,905 | +€19,128 | +24.0% |
| Income taxes | 67/77 | €20,037 | €25,208 | +€5,170 | +25.8% |
| Profit (loss) for the period | 9904 | €59,739 | €73,697 | +€13,958 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €59,739 | €73,697 | +€13,958 | +23.4% |
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 26 October 2026 via checked.be.