AJT run: 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.
AJT run
Largest movements
- Cash -€52,865
down €52,865 (-30.6%), from €172,817 to €119,952
mainly Contributions, distributions and other (-€147,785) and Stocks and contracts (-€38,528)
- Stocks and contracts +€38,528
up €38,528 (+18.2%), from €211,862 to €250,390
- Receivables after one year -€21,000
down €21,000 (-58.3%), from €36,000 to €15,000
- Receivables within one year +€10,877
up €10,877 (+45.8%), from €23,750 to €34,627
of which Trade receivables: +€13,485
- Profit (loss) carried forward -€51,899
down €51,899 (-20.6%), from €251,336 to €199,437
- Accrued charges and deferred income +€14,584
up €14,584 (+33.1%), from €44,050 to €58,634
- Debts after one year -€10,208
down €10,208 (-38.6%), from €26,415 to €16,206
- Short-term financial debts +€10,074
up €10,074 (+199%), from €5,074 to €15,149
- Trade debts +€8,312
up €8,312 (+11.0%), from €75,781 to €84,093
- Gross operating margin +€30,836
up €30,836 (+10.9%), from €283,943 to €314,778
- Taxes +€4,804
up €4,804 (+20.7%), from €23,167 to €27,971
- Write-downs +€4,075
up €4,075 (+8.5%), from €48,025 to €52,100
- Other operating charges +€3,548
up €3,548 (+424%), from €837 to €4,385
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 | €470,502 | €447,661 | -€22,841 | -4.9% |
| Fixed assets | 21/28 | €24,828 | €25,978 | +€1,151 | +4.6% |
| Intangible fixed assets | 21 | €803 | €5,413 | +€4,610 | +574% |
| Tangible fixed assets | 22/27 | €20,025 | €16,565 | -€3,460 | -17.3% |
| Furniture and vehicles | 24 | €10,555 | €9,422 | -€1,133 | -10.7% |
| Other tangible fixed assets | 26 | €9,470 | €7,143 | -€2,327 | -24.6% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €445,675 | €421,683 | -€23,992 | -5.4% |
| Amounts receivable after more than one year | 29 | €36,000 | €15,000 | -€21,000 | -58.3% |
| Other amounts receivable | 291 | €36,000 | €15,000 | -€21,000 | -58.3% |
| Stocks and contracts in progress | 3 | €211,862 | €250,390 | +€38,528 | +18.2% |
| Stocks | 30/36 | €211,862 | €250,390 | +€38,528 | +18.2% |
| Amounts receivable within one year | 40/41 | €23,750 | €34,627 | +€10,877 | +45.8% |
| Trade receivables | 40 | €20,370 | €33,855 | +€13,485 | +66.2% |
| Other amounts receivable | 41 | €3,380 | €772 | -€2,608 | -77.2% |
| Cash at bank and in hand | 54/58 | €172,817 | €119,952 | -€52,865 | -30.6% |
| Deferred charges and accrued income | 490/1 | €1,246 | €1,714 | +€468 | +37.5% |
| Total equity and liabilities | 10/49 | €470,502 | €447,661 | -€22,841 | -4.9% |
| Equity | 10/15 | €273,336 | €221,437 | -€51,899 | -19.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €251,336 | €199,437 | -€51,899 | -20.6% |
| Amounts payable | 17/49 | €197,166 | €226,224 | +€29,058 | +14.7% |
| Amounts payable after more than one year | 17 | €26,415 | €16,206 | -€10,208 | -38.6% |
| Financial debts | 170/4 | €26,415 | €16,206 | -€10,208 | -38.6% |
| Amounts payable within one year | 42/48 | €126,701 | €151,384 | +€24,682 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €9,756 | €10,208 | +€452 | +4.6% |
| Financial debts | 43 | €5,074 | €15,149 | +€10,074 | +199% |
| Credit institutions | 430/8 | €5,074 | €15,149 | +€10,074 | +199% |
| Trade debts | 44 | €75,781 | €84,093 | +€8,312 | +11.0% |
| Suppliers | 440/4 | €75,781 | €84,093 | +€8,312 | +11.0% |
| Taxes, remuneration and social security | 45 | €36,090 | €41,934 | +€5,844 | +16.2% |
| Taxes | 450/3 | €10,894 | €17,410 | +€6,516 | +59.8% |
| Remuneration and social security | 454/9 | €25,196 | €24,525 | -€671 | -2.7% |
| Accrued charges and deferred income | 492/3 | €44,050 | €58,634 | +€14,584 | +33.1% |
| Remuneration, social security and pensions | 62 | €118,997 | €119,735 | +€738 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,384 | €7,200 | -€1,184 | -14.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €48,025 | €52,100 | +€4,075 | +8.5% |
| Other operating charges | 640/8 | €837 | €4,385 | +€3,548 | +424% |
| Gross operating margin | 9900 | €283,943 | €314,778 | +€30,836 | +10.9% |
| Operating profit (loss) | 9901 | €107,700 | €131,359 | +€23,659 | +22.0% |
| Financial income | 75/76B | €1,839 | €1,790 | -€49 | -2.7% |
| Recurring financial income | 75 | €1,839 | €1,790 | -€49 | -2.7% |
| Financial charges | 65/66B | €9,451 | €9,292 | -€159 | -1.7% |
| Recurring financial charges | 65 | €9,451 | €9,292 | -€159 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €100,088 | €123,856 | +€23,769 | +23.7% |
| Income taxes | 67/77 | €23,167 | €27,971 | +€4,804 | +20.7% |
| Profit (loss) for the period | 9904 | €76,921 | €95,886 | +€18,965 | +24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €76,921 | €95,886 | +€18,965 | +24.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.