AJMAT: what changed
What changed
AJMAT
NACE 22.240, Manufacture of rubber and plastic products
filed annual accounts (NBB)
Net result for the year
€85,489
2024 · €131,242-€45,753
Equity
€771,898
2024 · €869,336-€97,438
Cash
€571,310
2024 · €485,593+€85,717
Balance sheet total
€1.3m
2024 · €1.2m+€20,587
Largest movements
Assets
- Cash +€85,717
up €85,717 (+17.7%), from €485,593 to €571,310
mainly Other debts (+€182,927) and Depreciation (+€97,481)
- Tangible fixed assets -€75,437
down €75,437 (-18.2%), from €415,176 to €339,739
of which Plant, machinery and equipment: -€70,192
- Intangible fixed assets +€28,512
up €28,512 (+190%), from €14,968 to €43,479
- Receivables within one year -€22,531
down €22,531 (-20.1%), from €112,165 to €89,634
of which Trade receivables: -€19,351
- Deferred charges and accrued income +€14,714
up €14,714 (+249%), from €5,903 to €20,616
Equity and liabilities
- Other debts +€182,927
new in 2025: €182,927
- Reserves -€97,438
down €97,438 (-15.3%), from €637,307 to €539,870
of which Distributable reserves: -€94,538
- Debts after one year -€70,046
down €70,046 (-43.9%), from €159,478 to €89,433
Income statement
- Gross operating margin -€23,378
down €23,378 (-3.7%), from €629,099 to €605,720
- Depreciation +€18,071
up €18,071 (+22.8%), from €79,410 to €97,481
- Taxes -€16,820
down €16,820 (-29.5%), from €56,919 to €40,100
- Write-downs +€15,196
up €15,196, from -€15,196 to €0
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.
Result 2024
€131,242
Gross operating margin
-€23,378
Staff costs
-€1,575
Depreciation
-€18,071
Write-downs
-€15,196
Other operating charges
+€208
Other operating items
+€466
Financial income
-€4,881
Financial charges
-€145
Taxes
+€16,820
Result 2025
€85,489
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€387,182
Investment
-€50,555
Financing
-€250,910
Cash 2024
€485,593
From operations (derived)
+€387,182
Net result for the year
+€85,489
Depreciation
+€97,481
Stocks and contracts
+€10,387
Receivables within one year
+€22,531
Deferred charges and accrued income
-€14,714
Trade debts
+€5,076
Tax, wage and social debts
-€1,995
Other debts
+€182,927
Investment (derived)
-€50,555
Investment in fixed assets (net)
-€50,555
Financing
-€250,910
Debts after one year
-€70,046
Current portion of long-term debt
+€2,062
Contributions, distributions and other
-€182,927
Cash 2025
€571,310
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,248,083 | €1,268,669 | +€20,587 | +1.6% |
| Fixed assets | 21/28 | €430,143 | €383,218 | -€46,926 | -10.9% |
| Intangible fixed assets | 21 | €14,968 | €43,479 | +€28,512 | +190% |
| Tangible fixed assets | 22/27 | €415,176 | €339,739 | -€75,437 | -18.2% |
| Land and buildings | 22 | €20,247 | €20,247 | = | 0.0% |
| Plant, machinery and equipment | 23 | €369,407 | €299,214 | -€70,192 | -19.0% |
| Furniture and vehicles | 24 | €25,522 | €20,277 | -€5,245 | -20.6% |
| Current assets | 29/58 | €817,939 | €885,452 | +€67,512 | +8.3% |
| Stocks and contracts in progress | 3 | €214,279 | €203,892 | -€10,387 | -4.8% |
| Stocks | 30/36 | €194,298 | €201,391 | +€7,093 | +3.7% |
| Contracts in progress | 37 | €19,981 | €2,501 | -€17,480 | -87.5% |
| Amounts receivable within one year | 40/41 | €112,165 | €89,634 | -€22,531 | -20.1% |
| Trade receivables | 40 | €98,949 | €79,598 | -€19,351 | -19.6% |
| Other amounts receivable | 41 | €13,216 | €10,035 | -€3,180 | -24.1% |
| Cash at bank and in hand | 54/58 | €485,593 | €571,310 | +€85,717 | +17.7% |
| Deferred charges and accrued income | 490/1 | €5,903 | €20,616 | +€14,714 | +249% |
| Total equity and liabilities | 10/49 | €1,248,083 | €1,268,669 | +€20,587 | +1.6% |
| Equity | 10/15 | €869,336 | €771,898 | -€97,438 | -11.2% |
| Contributions | 10/11 | €232,028 | €232,028 | = | 0.0% |
| Capital | 10 | €232,028 | €232,028 | = | 0.0% |
| Issued capital | 100 | €232,028 | €232,028 | = | 0.0% |
| Reserves | 13 | €637,307 | €539,870 | -€97,438 | -15.3% |
| Non-distributable reserves | 130/1 | €24,924 | €24,924 | = | 0.0% |
| Legal reserve | 130 | €24,924 | €24,924 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,200 | €20,300 | -€2,900 | -12.5% |
| Distributable reserves | 133 | €589,183 | €494,645 | -€94,538 | -16.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €85,991 | €85,991 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €85,991 | €85,991 | = | 0.0% |
| Pensions and similar obligations | 160 | €85,991 | €85,991 | = | 0.0% |
| Amounts payable | 17/49 | €292,756 | €410,780 | +€118,024 | +40.3% |
| Amounts payable after more than one year | 17 | €159,478 | €89,433 | -€70,046 | -43.9% |
| Financial debts | 170/4 | €159,478 | €89,433 | -€70,046 | -43.9% |
| Amounts payable within one year | 42/48 | €133,277 | €321,348 | +€188,070 | +141% |
| Current portion of amounts payable after more than one year | 42 | €67,983 | €70,046 | +€2,062 | +3.0% |
| Trade debts | 44 | €4,013 | €9,089 | +€5,076 | +126% |
| Suppliers | 440/4 | €4,013 | €9,089 | +€5,076 | +126% |
| Taxes, remuneration and social security | 45 | €61,281 | €59,286 | -€1,995 | -3.3% |
| Taxes | 450/3 | €30,515 | €23,596 | -€6,919 | -22.7% |
| Remuneration and social security | 454/9 | €30,766 | €35,690 | +€4,924 | +16.0% |
| Other amounts payable | 47/48 | - | €182,927 | +€182,927 | |
| Remuneration, social security and pensions | 62 | €398,907 | €400,482 | +€1,575 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,410 | €97,481 | +€18,071 | +22.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€15,196 | €0 | +€15,196 | |
| Other operating charges | 640/8 | €7,431 | €7,222 | -€208 | -2.8% |
| Non-recurring operating charges | 66A | €466 | €0 | -€466 | -100% |
| Gross operating margin | 9900 | €629,099 | €605,720 | -€23,378 | -3.7% |
| Operating profit (loss) | 9901 | €158,081 | €100,535 | -€57,547 | -36.4% |
| Financial income | 75/76B | €39,093 | €34,212 | -€4,881 | -12.5% |
| Recurring financial income | 75 | €39,093 | €34,212 | -€4,881 | -12.5% |
| Financial charges | 65/66B | €9,013 | €9,159 | +€145 | +1.6% |
| Recurring financial charges | 65 | €9,013 | €9,159 | +€145 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €188,161 | €125,589 | -€62,573 | -33.3% |
| Income taxes | 67/77 | €56,919 | €40,100 | -€16,820 | -29.5% |
| Profit (loss) for the period | 9904 | €131,242 | €85,489 | -€45,753 | -34.9% |
| Transfer from tax-exempt reserves | 789 | €2,900 | €2,900 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €134,142 | €88,389 | -€45,753 | -34.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.