AJV: 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.
AJV
Largest movements
- Receivables within one year -€21,944
down €21,944 (-60.6%), from €36,193 to €14,249
of which Trade receivables: -€19,468
- Stocks and contracts +€10,590
up €10,590 (+106%), from €10,000 to €20,590
- Cash -€8,059
down €8,059 (-78.9%), from €10,208 to €2,150
mainly Net result for the year (-€38,733) and Trade debts (-€14,606)
- Other debts +€47,346
up €47,346 (+34.3%), from €137,909 to €185,256
- Profit (loss) carried forward -€36,873
down €36,873 (-28.2%), from -€130,699 to -€167,572
- Trade debts -€14,606
down €14,606 (-51.4%), from €28,415 to €13,810
- Accrued charges and deferred income -€13,260
down €13,260 (-97.1%), from €13,659 to €400
- Reserves -€1,860
down €1,860 (-22.0%), from €8,462 to €6,602
- Gross operating margin -€41,642
down €41,642, from €8,483 to -€33,158
- Depreciation +€1,413
up €1,413 (+94.9%), from €1,488 to €2,901
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 | €71,860 | €51,688 | -€20,172 | -28.1% |
| Fixed assets | 21/28 | €14,000 | €13,529 | -€471 | -3.4% |
| Tangible fixed assets | 22/27 | €14,000 | €13,529 | -€471 | -3.4% |
| Furniture and vehicles | 24 | €2,829 | €2,216 | -€613 | -21.7% |
| Other tangible fixed assets | 26 | €11,171 | €11,313 | +€142 | +1.3% |
| Current assets | 29/58 | €57,860 | €38,159 | -€19,701 | -34.0% |
| Stocks and contracts in progress | 3 | €10,000 | €20,590 | +€10,590 | +106% |
| Stocks | 30/36 | €10,000 | €20,590 | +€10,590 | +106% |
| Amounts receivable within one year | 40/41 | €36,193 | €14,249 | -€21,944 | -60.6% |
| Trade receivables | 40 | €33,649 | €14,180 | -€19,468 | -57.9% |
| Other amounts receivable | 41 | €2,544 | €68 | -€2,476 | -97.3% |
| Cash at bank and in hand | 54/58 | €10,208 | €2,150 | -€8,059 | -78.9% |
| Deferred charges and accrued income | 490/1 | €1,459 | €1,171 | -€288 | -19.7% |
| Total equity and liabilities | 10/49 | €71,860 | €51,688 | -€20,172 | -28.1% |
| Equity | 10/15 | -€109,837 | -€148,570 | -€38,733 | -35.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €8,462 | €6,602 | -€1,860 | -22.0% |
| Distributable reserves | 133 | €8,462 | €6,602 | -€1,860 | -22.0% |
| Profit (loss) carried forward | 14 | -€130,699 | -€167,572 | -€36,873 | -28.2% |
| Amounts payable | 17/49 | €181,697 | €200,258 | +€18,561 | +10.2% |
| Amounts payable within one year | 42/48 | €168,037 | €199,858 | +€31,821 | +18.9% |
| Financial debts | 43 | €120 | €252 | +€132 | +110% |
| Other loans | 439 | €120 | €252 | +€132 | +110% |
| Trade debts | 44 | €28,415 | €13,810 | -€14,606 | -51.4% |
| Suppliers | 440/4 | €28,415 | €13,810 | -€14,606 | -51.4% |
| Taxes, remuneration and social security | 45 | €1,593 | €541 | -€1,052 | -66.0% |
| Taxes | 450/3 | €1,593 | €541 | -€1,052 | -66.0% |
| Other amounts payable | 47/48 | €137,909 | €185,256 | +€47,346 | +34.3% |
| Accrued charges and deferred income | 492/3 | €13,659 | €400 | -€13,260 | -97.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,488 | €2,901 | +€1,413 | +94.9% |
| Other operating charges | 640/8 | €772 | €747 | -€25 | -3.2% |
| Gross operating margin | 9900 | €8,483 | -€33,158 | -€41,642 | |
| Operating profit (loss) | 9901 | €6,222 | -€36,807 | -€43,029 | |
| Financial income | 75/76B | €18 | €1 | -€18 | -97.2% |
| Recurring financial income | 75 | €18 | €1 | -€18 | -97.2% |
| Financial charges | 65/66B | €1,461 | €1,662 | +€200 | +13.7% |
| Recurring financial charges | 65 | €1,461 | €1,662 | +€200 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €4,779 | -€38,468 | -€43,247 | |
| Income taxes | 67/77 | €277 | €265 | -€12 | -4.4% |
| Profit (loss) for the period | 9904 | €4,502 | -€38,733 | -€43,235 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,502 | -€38,733 | -€43,235 |
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.