TJ First: 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.
TJ First
Largest movements
- Receivables within one year +€32,092
up €32,092 (+73.7%), from €43,559 to €75,652
of which Other amounts receivable: +€21,597
- Cash +€24,703
up €24,703 (+210.6%), from €11,728 to €36,431
mainly Other debts (+€65,000) and Net result for the year (+€48,133)
- Deferred charges and accrued income +€13,013
up €13,013 (+411.1%), from €3,165 to €16,178
- Tangible fixed assets +€6,333
up €6,333 (+520.6%), from €1,216 to €7,549
of which Furniture and vehicles: +€4,428
- Current investments +€2,000
new in 2025: €2,000
- Other debts +€65,000
new in 2025: €65,000
- Reserves -€17,195
down €17,195 (-42.3%), from €40,622 to €23,427
- Tax, wage and social debts +€16,755
up €16,755 (+118.0%), from €14,196 to €30,952
- Trade debts +€14,161
up €14,161 (+433.0%), from €3,271 to €17,431
- Gross operating margin +€72,865
up €72,865 (+4474.6%), from €1,628 to €74,494
- Taxes +€15,998
up €15,998 (+2220.6%), from €720 to €16,719
- Financial charges +€7,458
up €7,458 (+481.2%), from €1,550 to €9,008
- Depreciation +€755
up €755 (+241.1%), from €313 to €1,068
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 | €59,669 | €137,810 | +€78,141 | +131.0% |
| Fixed assets | 21/28 | €1,216 | €7,549 | +€6,333 | +520.6% |
| Tangible fixed assets | 22/27 | €1,216 | €7,549 | +€6,333 | +520.6% |
| Plant, machinery and equipment | 23 | - | €1,904 | +€1,904 | |
| Furniture and vehicles | 24 | €1,216 | €5,645 | +€4,428 | +364.1% |
| Current assets | 29/58 | €58,453 | €130,260 | +€71,808 | +122.8% |
| Amounts receivable within one year | 40/41 | €43,559 | €75,652 | +€32,092 | +73.7% |
| Trade receivables | 40 | €22,337 | €32,832 | +€10,495 | +47.0% |
| Other amounts receivable | 41 | €21,222 | €42,820 | +€21,597 | +101.8% |
| Current investments | 50/53 | - | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €11,728 | €36,431 | +€24,703 | +210.6% |
| Deferred charges and accrued income | 490/1 | €3,165 | €16,178 | +€13,013 | +411.1% |
| Total equity and liabilities | 10/49 | €59,669 | €137,810 | +€78,141 | +131.0% |
| Equity | 10/15 | €41,294 | €24,427 | -€16,867 | -40.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €40,622 | €23,427 | -€17,195 | -42.3% |
| Distributable reserves | 133 | €40,622 | €23,427 | -€17,195 | -42.3% |
| Profit (loss) carried forward | 14 | -€328 | €0 | +€328 | |
| Amounts payable | 17/49 | €18,375 | €113,383 | +€95,008 | +517.1% |
| Amounts payable within one year | 42/48 | €18,007 | €113,383 | +€95,376 | +529.7% |
| Trade debts | 44 | €3,271 | €17,431 | +€14,161 | +433.0% |
| Suppliers | 440/4 | €3,271 | €17,431 | +€14,161 | +433.0% |
| Advances received on contracts in progress | 46 | €540 | €0 | -€540 | -100.0% |
| Taxes, remuneration and social security | 45 | €14,196 | €30,952 | +€16,755 | +118.0% |
| Taxes | 450/3 | €14,196 | €30,952 | +€16,755 | +118.0% |
| Other amounts payable | 47/48 | - | €65,000 | +€65,000 | |
| Accrued charges and deferred income | 492/3 | €368 | €0 | -€368 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €313 | €1,068 | +€755 | +241.1% |
| Other operating charges | 640/8 | €206 | €666 | +€461 | +224.2% |
| Gross operating margin | 9900 | €1,628 | €74,494 | +€72,865 | +4474.6% |
| Operating profit (loss) | 9901 | €1,110 | €72,760 | +€71,650 | +6455.7% |
| Financial income | 75/76B | €833 | €1,099 | +€266 | +32.0% |
| Recurring financial income | 75 | €833 | €1,099 | +€266 | +32.0% |
| Financial charges | 65/66B | €1,550 | €9,008 | +€7,458 | +481.2% |
| Recurring financial charges | 65 | €1,550 | €9,008 | +€7,458 | +481.2% |
| Profit (loss) for the period before taxes | 9903 | €393 | €64,851 | +€64,458 | +16415.9% |
| Income taxes | 67/77 | €720 | €16,719 | +€15,998 | +2220.6% |
| Profit (loss) for the period | 9904 | -€328 | €48,133 | +€48,460 | |
| Profit (loss) for the period to be appropriated | 9905 | -€328 | €48,133 | +€48,460 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.