CAJM MANAGEMENT: 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.
CAJM MANAGEMENT
Largest movements
- Current investments +€797,888
up €797,888 (+36.4%), from €2.2m to €3.0m
- Receivables within one year -€236,318
down €236,318 (-97.5%), from €242,413 to €6,095
of which Other amounts receivable: -€197,413
- Cash -€177,643
down €177,643 (-75.1%), from €236,477 to €58,834
mainly Debts after one year (-€845,970) and Current investments (-€797,888)
- Tangible fixed assets -€153,136
down €153,136 (-6.1%), from €2.5m to €2.4m
of which Land and buildings: -€155,327
- Receivables after one year -€81,797
down €81,797 (-59.0%), from €138,656 to €56,859
- Other debts +€1.5m
new in 2025: €1.5m
- Debts after one year -€845,970
down €845,970 (-41.0%), from €2.1m to €1.2m
- Profit (loss) carried forward -€286,409
down €286,409 (-10.5%), from €2.7m to €2.4m
- Trade debts -€205,428
down €205,428 (-50.9%), from €403,242 to €197,813
- Gross operating margin -€908,102
down €908,102 (-67.3%), from €1.3m to €441,102
- Taxes -€194,278
down €194,278 (-62.4%), from €311,188 to €116,909
- Financial income +€167,261
up €167,261 (+370%), from €45,202 to €212,463
- Financial charges +€115,405
up €115,405 (+151%), from €76,198 to €191,603
- Other operating charges +€30,891
up €30,891 (+992%), from €3,115 to €34,006
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 | €5,475,866 | €5,611,516 | +€135,650 | +2.5% |
| Fixed assets | 21/28 | €2,661,294 | €2,495,657 | -€165,636 | -6.2% |
| Tangible fixed assets | 22/27 | €2,510,780 | €2,357,643 | -€153,136 | -6.1% |
| Land and buildings | 22 | €2,228,140 | €2,072,813 | -€155,327 | -7.0% |
| Plant, machinery and equipment | 23 | €192,060 | €207,895 | +€15,834 | +8.2% |
| Furniture and vehicles | 24 | €90,579 | €76,935 | -€13,644 | -15.1% |
| Financial fixed assets | 28 | €150,514 | €138,014 | -€12,500 | -8.3% |
| Current assets | 29/58 | €2,814,572 | €3,115,859 | +€301,287 | +10.7% |
| Amounts receivable after more than one year | 29 | €138,656 | €56,859 | -€81,797 | -59.0% |
| Other amounts receivable | 291 | €138,656 | €56,859 | -€81,797 | -59.0% |
| Amounts receivable within one year | 40/41 | €242,413 | €6,095 | -€236,318 | -97.5% |
| Trade receivables | 40 | €45,000 | €6,095 | -€38,905 | -86.5% |
| Other amounts receivable | 41 | €197,413 | - | -€197,413 | |
| Current investments | 50/53 | €2,193,770 | €2,991,658 | +€797,888 | +36.4% |
| Cash at bank and in hand | 54/58 | €236,477 | €58,834 | -€177,643 | -75.1% |
| Deferred charges and accrued income | 490/1 | €3,256 | €2,413 | -€843 | -25.9% |
| Total equity and liabilities | 10/49 | €5,475,866 | €5,611,516 | +€135,650 | +2.5% |
| Equity | 10/15 | €2,751,341 | €2,464,932 | -€286,409 | -10.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,730,881 | €2,444,472 | -€286,409 | -10.5% |
| Amounts payable | 17/49 | €2,724,525 | €3,146,584 | +€422,059 | +15.5% |
| Amounts payable after more than one year | 17 | €2,064,268 | €1,218,299 | -€845,970 | -41.0% |
| Financial debts | 170/4 | €2,064,268 | €1,218,299 | -€845,970 | -41.0% |
| Amounts payable within one year | 42/48 | €655,193 | €1,928,286 | +€1.3m | +194% |
| Current portion of amounts payable after more than one year | 42 | €130,218 | €105,329 | -€24,889 | -19.1% |
| Financial debts | 43 | €103,180 | €72,896 | -€30,284 | -29.4% |
| Credit institutions | 430/8 | €103,180 | €72,896 | -€30,284 | -29.4% |
| Trade debts | 44 | €403,242 | €197,813 | -€205,428 | -50.9% |
| Suppliers | 440/4 | €403,242 | €197,813 | -€205,428 | -50.9% |
| Taxes, remuneration and social security | 45 | €18,553 | €49,153 | +€30,600 | +165% |
| Taxes | 450/3 | €18,553 | €49,153 | +€30,600 | +165% |
| Other amounts payable | 47/48 | - | €1,503,095 | +€1.5m | |
| Accrued charges and deferred income | 492/3 | €5,064 | - | -€5,064 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,293 | €97,456 | -€8,838 | -8.3% |
| Other operating charges | 640/8 | €3,115 | €34,006 | +€30,891 | +992% |
| Gross operating margin | 9900 | €1,349,204 | €441,102 | -€908,102 | -67.3% |
| Operating profit (loss) | 9901 | €1,239,795 | €309,640 | -€930,155 | -75.0% |
| Financial income | 75/76B | €45,202 | €212,463 | +€167,261 | +370% |
| Recurring financial income | 75 | €45,202 | €212,463 | +€167,261 | +370% |
| Financial charges | 65/66B | €76,198 | €191,603 | +€115,405 | +151% |
| Recurring financial charges | 65 | €76,198 | €191,603 | +€115,405 | +151% |
| Profit (loss) for the period before taxes | 9903 | €1,208,799 | €330,501 | -€878,299 | -72.7% |
| Income taxes | 67/77 | €311,188 | €116,909 | -€194,278 | -62.4% |
| Profit (loss) for the period | 9904 | €897,611 | €213,591 | -€684,020 | -76.2% |
| Profit (loss) for the period to be appropriated | 9905 | €897,611 | €213,591 | -€684,020 | -76.2% |
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 24 October 2026 via checked.be.