TJ 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.
TJ Management
Largest movements
- Tangible fixed assets -€27,209
down €27,209 (-13.0%), from €209,564 to €182,355
of which Leasing and similar rights: -€18,576
- Cash -€9,000
down €9,000 (-48.3%), from €18,648 to €9,649
mainly Other debts (-€36,528) and Investment in fixed assets (net) (-€18,137)
- Stocks and contracts +€4,892
new in 2025: €4,892
- Reserves +€128,042
new in 2025: €128,042
- Profit (loss) carried forward -€104,474
down €104,474 (-100%), from €104,474 to €0
- Other debts -€36,528
down €36,528 (-98.2%), from €37,179 to €651
- Debts after one year -€15,610
down €15,610 (-23.3%), from €67,013 to €51,403
- Trade debts -€10,829
down €10,829 (-74.1%), from €14,616 to €3,787
- Gross operating margin +€40,771
up €40,771 (+88.8%), from €45,890 to €86,661
- Depreciation +€20,716
up €20,716 (+84.1%), from €24,630 to €45,346
- Other operating charges -€3,760
down €3,760 (-40.5%), from €9,288 to €5,528
- Taxes +€3,526
up €3,526 (+87.1%), from €4,046 to €7,572
- Financial income -€3,395
down €3,395 (-99.4%), from €3,415 to €20
of which Non-recurring financial income: -€3,415
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 | €252,065 | €223,110 | -€28,954 | -11.5% |
| Fixed assets | 21/28 | €209,564 | €182,355 | -€27,209 | -13.0% |
| Tangible fixed assets | 22/27 | €209,564 | €182,355 | -€27,209 | -13.0% |
| Land and buildings | 22 | €25,159 | €21,849 | -€3,310 | -13.2% |
| Furniture and vehicles | 24 | €105,455 | €100,132 | -€5,323 | -5.0% |
| Leasing and similar rights | 25 | €78,950 | €60,373 | -€18,576 | -23.5% |
| Current assets | 29/58 | €42,500 | €40,755 | -€1,745 | -4.1% |
| Stocks and contracts in progress | 3 | - | €4,892 | +€4,892 | |
| Stocks | 30/36 | - | €4,892 | +€4,892 | |
| Amounts receivable within one year | 40/41 | €22,375 | €22,657 | +€282 | +1.3% |
| Trade receivables | 40 | €22,375 | €22,657 | +€282 | +1.3% |
| Cash at bank and in hand | 54/58 | €18,648 | €9,649 | -€9,000 | -48.3% |
| Deferred charges and accrued income | 490/1 | €1,477 | €3,558 | +€2,081 | +141% |
| Total equity and liabilities | 10/49 | €252,065 | €223,110 | -€28,954 | -11.5% |
| Equity | 10/15 | €114,474 | €138,042 | +€23,569 | +20.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €128,042 | +€128,042 | |
| Distributable reserves | 133 | - | €128,042 | +€128,042 | |
| Profit (loss) carried forward | 14 | €104,474 | €0 | -€104,474 | -100% |
| Amounts payable | 17/49 | €137,591 | €85,068 | -€52,523 | -38.2% |
| Amounts payable after more than one year | 17 | €67,013 | €51,403 | -€15,610 | -23.3% |
| Financial debts | 170/4 | €67,013 | €51,403 | -€15,610 | -23.3% |
| Amounts payable within one year | 42/48 | €70,578 | €33,665 | -€36,913 | -52.3% |
| Current portion of amounts payable after more than one year | 42 | €15,002 | €15,610 | +€607 | +4.0% |
| Trade debts | 44 | €14,616 | €3,787 | -€10,829 | -74.1% |
| Suppliers | 440/4 | €14,616 | €3,787 | -€10,829 | -74.1% |
| Taxes, remuneration and social security | 45 | €3,781 | €13,617 | +€9,837 | +260% |
| Taxes | 450/3 | €1,546 | €11,404 | +€9,858 | +638% |
| Remuneration and social security | 454/9 | €2,235 | €2,213 | -€22 | -1.0% |
| Other amounts payable | 47/48 | €37,179 | €651 | -€36,528 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,630 | €45,346 | +€20,716 | +84.1% |
| Other operating charges | 640/8 | €9,288 | €5,528 | -€3,760 | -40.5% |
| Gross operating margin | 9900 | €45,890 | €86,661 | +€40,771 | +88.8% |
| Operating profit (loss) | 9901 | €11,973 | €35,787 | +€23,814 | +199% |
| Financial income | 75/76B | €3,415 | €20 | -€3,395 | -99.4% |
| Recurring financial income | 75 | €0 | €20 | +€20 | +100,350% |
| Non-recurring financial income | 76B | €3,415 | - | -€3,415 | |
| Financial charges | 65/66B | €3,904 | €4,667 | +€763 | +19.6% |
| Recurring financial charges | 65 | €3,904 | €4,667 | +€763 | +19.6% |
| Profit (loss) for the period before taxes | 9903 | €11,485 | €31,141 | +€19,656 | +171% |
| Income taxes | 67/77 | €4,046 | €7,572 | +€3,526 | +87.1% |
| Profit (loss) for the period | 9904 | €7,439 | €23,569 | +€16,130 | +217% |
| Profit (loss) for the period to be appropriated | 9905 | €7,439 | €23,569 | +€16,130 | +217% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.