AJR Finance: 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.
AJR Finance
Largest movements
- Cash -€176,059
down €176,059 (-99.3%), from €177,258 to €1,199
mainly Contributions, distributions and other (-€200,000) and Other debts (-€189,709)
- Tangible fixed assets +€3,609
up €3,609 (+9.8%), from €36,850 to €40,459
of which Furniture and vehicles: +€10,833
- Receivables within one year +€3,112
up €3,112 (+9.7%), from €32,155 to €35,267
of which Trade receivables: +€2,582
- Other debts -€189,709
down €189,709 (-97.3%), from €195,040 to €5,331
- Reserves +€27,914
up €27,914 (+1,311%), from €2,129 to €30,043
of which Distributable reserves: +€29,774
- Tax, wage and social debts -€7,578
down €7,578 (-29.0%), from €26,095 to €18,517
- Gross operating margin +€57,600
up €57,600 (+21.9%), from €263,217 to €320,817
- Taxes +€12,924
up €12,924 (+21.0%), from €61,546 to €74,470
- Depreciation +€9,167
up €9,167 (+127%), from €7,225 to €16,391
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 | €246,263 | €76,925 | -€169,338 | -68.8% |
| Fixed assets | 21/28 | €36,850 | €40,459 | +€3,609 | +9.8% |
| Tangible fixed assets | 22/27 | €36,850 | €40,459 | +€3,609 | +9.8% |
| Land and buildings | 22 | €36,850 | €29,626 | -€7,225 | -19.6% |
| Furniture and vehicles | 24 | - | €10,833 | +€10,833 | |
| Current assets | 29/58 | €209,413 | €36,466 | -€172,947 | -82.6% |
| Amounts receivable within one year | 40/41 | €32,155 | €35,267 | +€3,112 | +9.7% |
| Trade receivables | 40 | €32,155 | €34,737 | +€2,582 | +8.0% |
| Other amounts receivable | 41 | - | €530 | +€530 | |
| Cash at bank and in hand | 54/58 | €177,258 | €1,199 | -€176,059 | -99.3% |
| Total equity and liabilities | 10/49 | €246,263 | €76,925 | -€169,338 | -68.8% |
| Equity | 10/15 | €20,729 | €48,643 | +€27,914 | +135% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,129 | €30,043 | +€27,914 | +1,311% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €269 | €269 | = | 0.0% |
| Distributable reserves | 133 | - | €29,774 | +€29,774 | |
| Amounts payable | 17/49 | €225,534 | €28,282 | -€197,252 | -87.5% |
| Amounts payable within one year | 42/48 | €225,534 | €28,282 | -€197,252 | -87.5% |
| Trade debts | 44 | €4,400 | €4,434 | +€34 | +0.8% |
| Suppliers | 440/4 | €4,400 | €4,434 | +€34 | +0.8% |
| Taxes, remuneration and social security | 45 | €26,095 | €18,517 | -€7,578 | -29.0% |
| Taxes | 450/3 | €26,095 | €18,517 | -€7,578 | -29.0% |
| Other amounts payable | 47/48 | €195,040 | €5,331 | -€189,709 | -97.3% |
| Non-recurring operating income | 76A | - | €1,900 | +€1,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,225 | €16,391 | +€9,167 | +127% |
| Other operating charges | 640/8 | €1,248 | €1,945 | +€697 | +55.8% |
| Gross operating margin | 9900 | €263,217 | €320,817 | +€57,600 | +21.9% |
| Operating profit (loss) | 9901 | €254,745 | €302,481 | +€47,737 | +18.7% |
| Financial income | 75/76B | €911 | €1 | -€910 | -99.9% |
| Recurring financial income | 75 | €911 | €1 | -€910 | -99.9% |
| Financial charges | 65/66B | €217 | €97 | -€120 | -55.2% |
| Recurring financial charges | 65 | €217 | €97 | -€120 | -55.2% |
| Profit (loss) for the period before taxes | 9903 | €255,438 | €302,385 | +€46,946 | +18.4% |
| Income taxes | 67/77 | €61,546 | €74,470 | +€12,924 | +21.0% |
| Profit (loss) for the period | 9904 | €193,892 | €227,914 | +€34,022 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €193,892 | €227,914 | +€34,022 | +17.5% |
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 27 October 2026 via checked.be.