TJ Projects: what changed
TJ Projects
Largest movements
- Receivables within one year -€110,119
down €110,119 (-35.2%), from €312,486 to €202,367
of which Trade receivables: -€132,613
- Stocks and contracts +€81,655
up €81,655 (+110%), from €74,208 to €155,864
of which Contracts in progress: +€80,292
- Cash +€62,082
up €62,082 (+122%), from €51,034 to €113,115
mainly Net result for the year (+€133,128) and Receivables within one year (+€110,119)
- Tangible fixed assets +€11,702
up €11,702 (+13.7%), from €85,495 to €97,197
of which Furniture and vehicles: +€19,753
- Other debts +€83,555
up €83,555 (+37.3%), from €223,890 to €307,445
- Reserves -€78,637
down €78,637 (-48.9%), from €160,669 to €82,032
of which Distributable reserves: -€78,637
- Trade debts +€44,796
up €44,796 (+87.1%), from €51,430 to €96,226
- Debts after one year +€12,091
up €12,091 (+40.6%), from €29,754 to €41,845
- Tax, wage and social debts -€9,743
down €9,743 (-37.0%), from €26,364 to €16,622
of which Taxes: -€9,875
- Staff costs +€74,514
up €74,514 (+58.9%), from €126,420 to €200,934
- Gross operating margin +€47,440
up €47,440 (+13.1%), from €361,593 to €409,033
- Depreciation -€8,052
down €8,052 (-20.9%), from €38,599 to €30,547
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €528,051 | €580,649 | +€52,598 | +10.0% |
| Fixed assets | 21/28 | €85,495 | €97,197 | +€11,702 | +13.7% |
| Tangible fixed assets | 22/27 | €85,495 | €97,197 | +€11,702 | +13.7% |
| Land and buildings | 22 | €4,703 | €4,006 | -€697 | -14.8% |
| Plant, machinery and equipment | 23 | €25,126 | €17,773 | -€7,353 | -29.3% |
| Furniture and vehicles | 24 | €55,666 | €75,419 | +€19,753 | +35.5% |
| Current assets | 29/58 | €442,556 | €483,452 | +€40,896 | +9.2% |
| Amounts receivable after more than one year | 29 | - | €4,000 | +€4,000 | |
| Other amounts receivable | 291 | - | €4,000 | +€4,000 | |
| Stocks and contracts in progress | 3 | €74,208 | €155,864 | +€81,655 | +110% |
| Stocks | 30/36 | €39,143 | €40,507 | +€1,363 | +3.5% |
| Contracts in progress | 37 | €35,065 | €115,357 | +€80,292 | +229% |
| Amounts receivable within one year | 40/41 | €312,486 | €202,367 | -€110,119 | -35.2% |
| Trade receivables | 40 | €300,812 | €168,200 | -€132,613 | -44.1% |
| Other amounts receivable | 41 | €11,673 | €34,167 | +€22,494 | +193% |
| Cash at bank and in hand | 54/58 | €51,034 | €113,115 | +€62,082 | +122% |
| Deferred charges and accrued income | 490/1 | €4,829 | €8,106 | +€3,277 | +67.9% |
| Total equity and liabilities | 10/49 | €528,051 | €580,649 | +€52,598 | +10.0% |
| Equity | 10/15 | €179,269 | €100,632 | -€78,637 | -43.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €160,669 | €82,032 | -€78,637 | -48.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €160,669 | €82,032 | -€78,637 | -48.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €348,782 | €480,017 | +€131,235 | +37.6% |
| Amounts payable after more than one year | 17 | €29,754 | €41,845 | +€12,091 | +40.6% |
| Financial debts | 170/4 | €29,754 | €41,845 | +€12,091 | +40.6% |
| Amounts payable within one year | 42/48 | €319,028 | €437,747 | +€118,719 | +37.2% |
| Current portion of amounts payable after more than one year | 42 | €17,344 | €17,454 | +€110 | +0.6% |
| Trade debts | 44 | €51,430 | €96,226 | +€44,796 | +87.1% |
| Suppliers | 440/4 | €51,430 | €96,226 | +€44,796 | +87.1% |
| Taxes, remuneration and social security | 45 | €26,364 | €16,622 | -€9,743 | -37.0% |
| Taxes | 450/3 | €11,531 | €1,656 | -€9,875 | -85.6% |
| Remuneration and social security | 454/9 | €14,834 | €14,966 | +€132 | +0.9% |
| Other amounts payable | 47/48 | €223,890 | €307,445 | +€83,555 | +37.3% |
| Accrued charges and deferred income | 492/3 | - | €425 | +€425 | |
| Remuneration, social security and pensions | 62 | €126,420 | €200,934 | +€74,514 | +58.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,599 | €30,547 | -€8,052 | -20.9% |
| Other operating charges | 640/8 | €1,893 | €1,758 | -€135 | -7.1% |
| Gross operating margin | 9900 | €361,593 | €409,033 | +€47,440 | +13.1% |
| Operating profit (loss) | 9901 | €194,680 | €175,793 | -€18,887 | -9.7% |
| Financial income | 75/76B | €1,263 | €1,077 | -€185 | -14.7% |
| Recurring financial income | 75 | €1,263 | €1,077 | -€185 | -14.7% |
| Financial charges | 65/66B | €3,151 | €3,271 | +€119 | +3.8% |
| Recurring financial charges | 65 | €3,151 | €3,271 | +€119 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €192,792 | €173,600 | -€19,191 | -10.0% |
| Income taxes | 67/77 | €44,317 | €40,472 | -€3,845 | -8.7% |
| Profit (loss) for the period | 9904 | €148,474 | €133,128 | -€15,346 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €148,474 | €133,128 | -€15,346 | -10.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.