GROUP AJMS: 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.
GROUP AJMS
Largest movements
- Receivables within one year +€110,311
up €110,311 (+280%), from €39,373 to €149,684
of which Trade receivables: +€110,372
- Cash +€69,206
up €69,206 (+333%), from €20,759 to €89,965
mainly Other debts (+€175,538) and Net result for the year (+€137,148)
- Reserves +€876,746
up €876,746 (+278%), from €315,465 to €1.2m
- Profit (loss) carried forward -€739,599
no longer reported in 2025 (was €739,599)
- Other debts +€175,538
up €175,538 (+50.6%), from €347,223 to €522,761
- Debts after one year -€141,898
down €141,898 (-49.4%), from €287,290 to €145,392
- Gross operating margin -€3,952
down €3,952 (-2.1%), from €191,833 to €187,880
- Financial charges -€2,410
down €2,410 (-26.6%), from €9,058 to €6,648
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 | €2,346,132 | €2,528,125 | +€181,993 | +7.8% |
| Fixed assets | 21/28 | €2,286,000 | €2,286,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,286,000 | €2,286,000 | = | 0.0% |
| Current assets | 29/58 | €60,132 | €242,125 | +€181,993 | +303% |
| Amounts receivable within one year | 40/41 | €39,373 | €149,684 | +€110,311 | +280% |
| Trade receivables | 40 | €36,555 | €146,926 | +€110,372 | +302% |
| Other amounts receivable | 41 | €2,819 | €2,758 | -€61 | -2.1% |
| Cash at bank and in hand | 54/58 | €20,759 | €89,965 | +€69,206 | +333% |
| Deferred charges and accrued income | 490/1 | - | €2,475 | +€2,475 | |
| Total equity and liabilities | 10/49 | €2,346,132 | €2,528,125 | +€181,993 | +7.8% |
| Equity | 10/15 | €1,505,063 | €1,642,211 | +€137,148 | +9.1% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Reserves | 13 | €315,465 | €1,192,211 | +€876,746 | +278% |
| Distributable reserves | 133 | €315,465 | €1,192,211 | +€876,746 | +278% |
| Profit (loss) carried forward | 14 | €739,599 | - | -€739,599 | |
| Amounts payable | 17/49 | €841,069 | €885,914 | +€44,845 | +5.3% |
| Amounts payable after more than one year | 17 | €287,290 | €145,392 | -€141,898 | -49.4% |
| Financial debts | 170/4 | €287,290 | €145,392 | -€141,898 | -49.4% |
| Amounts payable within one year | 42/48 | €541,283 | €725,423 | +€184,140 | +34.0% |
| Current portion of amounts payable after more than one year | 42 | €139,825 | €141,898 | +€2,073 | +1.5% |
| Financial debts | 43 | €45,000 | €44,808 | -€192 | -0.4% |
| Other loans | 439 | €45,000 | €44,808 | -€192 | -0.4% |
| Trade debts | 44 | €1,910 | €1,426 | -€484 | -25.3% |
| Suppliers | 440/4 | €1,910 | €1,426 | -€484 | -25.3% |
| Taxes, remuneration and social security | 45 | €7,325 | €14,530 | +€7,205 | +98.4% |
| Taxes | 450/3 | €3,240 | €9,720 | +€6,480 | +200% |
| Remuneration and social security | 454/9 | €4,085 | €4,810 | +€725 | +17.7% |
| Other amounts payable | 47/48 | €347,223 | €522,761 | +€175,538 | +50.6% |
| Accrued charges and deferred income | 492/3 | €12,496 | €15,099 | +€2,603 | +20.8% |
| Remuneration, social security and pensions | 62 | €960 | €968 | +€7 | +0.8% |
| Other operating charges | 640/8 | €791 | €875 | +€84 | +10.6% |
| Gross operating margin | 9900 | €191,833 | €187,880 | -€3,952 | -2.1% |
| Operating profit (loss) | 9901 | €190,082 | €186,038 | -€4,044 | -2.1% |
| Financial charges | 65/66B | €9,058 | €6,648 | -€2,410 | -26.6% |
| Recurring financial charges | 65 | €9,058 | €6,648 | -€2,410 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €181,024 | €179,390 | -€1,634 | -0.9% |
| Income taxes | 67/77 | €42,181 | €42,242 | +€61 | +0.1% |
| Profit (loss) for the period | 9904 | €138,843 | €137,148 | -€1,695 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €138,843 | €137,148 | -€1,695 | -1.2% |
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 25 October 2026 via checked.be.