AJVO: what changed
Two fiscal 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.
AJVO
Largest movements
- Receivables within one year +€18,151
up €18,151 (+32.7%), from €55,546 to €73,697
of which Trade receivables: +€15,446
- Cash +€10,502
up €10,502 (+85.6%), from €12,272 to €22,774
mainly Net result for the year (+€27,578) and Tax, wage and social debts (+€2,622)
- Tangible fixed assets -€2,263
down €2,263 (-22.3%), from €10,158 to €7,894
of which Furniture and vehicles: -€1,412
- Deferred charges and accrued income -€1,614
down €1,614 (-19.4%), from €8,310 to €6,696
- Reserves +€27,578
up €27,578 (+59.6%), from €46,251 to €73,828
of which Distributable reserves: +€27,578
- Trade debts -€4,464
down €4,464 (-53.5%), from €8,338 to €3,874
- Tax, wage and social debts +€2,622
up €2,622 (+21.5%), from €12,215 to €14,836
- Gross operating margin +€20,879
up €20,879 (+102.9%), from €20,290 to €41,169
- Taxes +€4,163
up €4,163 (+57.8%), from €7,200 to €11,363
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.
Cash bridge derived
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 | €86,363 | €111,139 | +€24,776 | +28.7% |
| Fixed assets | 21/28 | €10,158 | €7,894 | -€2,263 | -22.3% |
| Tangible fixed assets | 22/27 | €10,158 | €7,894 | -€2,263 | -22.3% |
| Plant, machinery and equipment | 23 | €6,354 | €5,502 | -€852 | -13.4% |
| Furniture and vehicles | 24 | €3,804 | €2,392 | -€1,412 | -37.1% |
| Current assets | 29/58 | €76,206 | €103,245 | +€27,039 | +35.5% |
| Amounts receivable within one year | 40/41 | €55,546 | €73,697 | +€18,151 | +32.7% |
| Trade receivables | 40 | €23,076 | €38,522 | +€15,446 | +66.9% |
| Other amounts receivable | 41 | €32,470 | €35,176 | +€2,705 | +8.3% |
| Current investments | 50/53 | €77 | €77 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,272 | €22,774 | +€10,502 | +85.6% |
| Deferred charges and accrued income | 490/1 | €8,310 | €6,696 | -€1,614 | -19.4% |
| Total equity and liabilities | 10/49 | €86,363 | €111,139 | +€24,776 | +28.7% |
| Equity | 10/15 | €64,851 | €92,428 | +€27,578 | +42.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €46,251 | €73,828 | +€27,578 | +59.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €44,391 | €71,968 | +€27,578 | +62.1% |
| Amounts payable | 17/49 | €21,513 | €18,711 | -€2,802 | -13.0% |
| Amounts payable within one year | 42/48 | €20,553 | €18,711 | -€1,842 | -9.0% |
| Trade debts | 44 | €8,338 | €3,874 | -€4,464 | -53.5% |
| Suppliers | 440/4 | €8,338 | €3,874 | -€4,464 | -53.5% |
| Taxes, remuneration and social security | 45 | €12,215 | €14,836 | +€2,622 | +21.5% |
| Taxes | 450/3 | €12,215 | €14,836 | +€2,622 | +21.5% |
| Accrued charges and deferred income | 492/3 | €960 | €0 | -€960 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,501 | €2,263 | -€238 | -9.5% |
| Other operating charges | 640/8 | €1,370 | €1,706 | +€336 | +24.5% |
| Gross operating margin | 9900 | €20,290 | €41,169 | +€20,879 | +102.9% |
| Operating profit (loss) | 9901 | €16,419 | €37,199 | +€20,780 | +126.6% |
| Financial income | 75/76B | €1,723 | €1,870 | +€147 | +8.5% |
| Recurring financial income | 75 | €1,723 | €1,870 | +€147 | +8.5% |
| Financial charges | 65/66B | €257 | €128 | -€129 | -50.3% |
| Recurring financial charges | 65 | €257 | €128 | -€129 | -50.3% |
| Profit (loss) for the period before taxes | 9903 | €17,885 | €38,941 | +€21,056 | +117.7% |
| Income taxes | 67/77 | €7,200 | €11,363 | +€4,163 | +57.8% |
| Profit (loss) for the period | 9904 | €10,685 | €27,578 | +€16,893 | +158.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,685 | €27,578 | +€16,893 | +158.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.