AJUST: 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.
AJUST
Largest movements
- Receivables within one year +€401,446
up €401,446 (+1,392%), from €28,843 to €430,289
- Stocks and contracts +€388,060
up €388,060 (+35.7%), from €1.1m to €1.5m
- Deferred charges and accrued income -€28,823
down €28,823 (-59.0%), from €48,815 to €19,992
- Other debts +€401,876
up €401,876 (+43.2%), from €929,297 to €1.3m
- Trade debts +€268,788
up €268,788 (+747%), from €35,986 to €304,775
- Profit (loss) carried forward +€126,327
up €126,327 (+99.9%), from -€126,508 to -€181
- Reserves -€33,521
down €33,521 (-100%), from €33,521 to €0
- Debts after one year -€20,596
down €20,596 (-8.2%), from €250,488 to €229,892
- Gross operating margin +€176,257
up €176,257 (+379%), from €46,481 to €222,739
- Financial charges -€23,957
down €23,957 (-28.6%), from €83,871 to €59,914
- Taxes +€12,475
up €12,475 (+1,799%), from €693 to €13,169
- Other operating charges -€4,781
down €4,781 (-60.6%), from €7,889 to €3,108
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 | €1,188,199 | €1,941,305 | +€753,107 | +63.4% |
| Fixed assets | 21/28 | €4,725 | €7,331 | +€2,606 | +55.1% |
| Tangible fixed assets | 22/27 | €4,725 | €7,331 | +€2,606 | +55.1% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €4,477 | €4,704 | +€226 | +5.1% |
| Furniture and vehicles | 24 | €248 | €2,627 | +€2,379 | +961% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,183,474 | €1,933,975 | +€750,501 | +63.4% |
| Stocks and contracts in progress | 3 | €1,087,747 | €1,475,807 | +€388,060 | +35.7% |
| Stocks | 30/36 | €1,087,747 | €1,475,807 | +€388,060 | +35.7% |
| Amounts receivable within one year | 40/41 | €28,843 | €430,289 | +€401,446 | +1,392% |
| Trade receivables | 40 | €28,843 | €430,289 | +€401,446 | +1,392% |
| Cash at bank and in hand | 54/58 | €18,068 | €7,886 | -€10,182 | -56.4% |
| Deferred charges and accrued income | 490/1 | €48,815 | €19,992 | -€28,823 | -59.0% |
| Total equity and liabilities | 10/49 | €1,188,199 | €1,941,305 | +€753,107 | +63.4% |
| Equity | 10/15 | -€74,387 | €18,419 | +€92,806 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,521 | €0 | -€33,521 | -100% |
| Distributable reserves | 133 | €33,521 | €0 | -€33,521 | -100% |
| Profit (loss) carried forward | 14 | -€126,508 | -€181 | +€126,327 | +99.9% |
| Amounts payable | 17/49 | €1,262,586 | €1,922,887 | +€660,301 | +52.3% |
| Amounts payable after more than one year | 17 | €250,488 | €229,892 | -€20,596 | -8.2% |
| Financial debts | 170/4 | €250,488 | €229,892 | -€20,596 | -8.2% |
| Amounts payable within one year | 42/48 | €1,007,098 | €1,687,994 | +€680,896 | +67.6% |
| Current portion of amounts payable after more than one year | 42 | €20,289 | €20,596 | +€307 | +1.5% |
| Trade debts | 44 | €35,986 | €304,775 | +€268,788 | +747% |
| Suppliers | 440/4 | €35,986 | €304,775 | +€268,788 | +747% |
| Taxes, remuneration and social security | 45 | €21,526 | €31,451 | +€9,925 | +46.1% |
| Taxes | 450/3 | €14,721 | €18,469 | +€3,748 | +25.5% |
| Remuneration and social security | 454/9 | €6,805 | €12,982 | +€6,177 | +90.8% |
| Other amounts payable | 47/48 | €929,297 | €1,331,173 | +€401,876 | +43.2% |
| Accrued charges and deferred income | 492/3 | €5,000 | €5,000 | = | 0.0% |
| Non-recurring operating income | 76A | €2,449 | €31 | -€2,418 | -98.7% |
| Remuneration, social security and pensions | 62 | €51,108 | €52,177 | +€1,069 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,116 | €1,681 | +€566 | +50.7% |
| Other operating charges | 640/8 | €7,889 | €3,108 | -€4,781 | -60.6% |
| Non-recurring operating charges | 66A | €28,333 | €0 | -€28,333 | -100% |
| Gross operating margin | 9900 | €46,481 | €222,739 | +€176,257 | +379% |
| Operating profit (loss) | 9901 | -€41,964 | €165,773 | +€207,737 | |
| Financial income | 75/76B | €20 | €116 | +€96 | +478% |
| Recurring financial income | 75 | €20 | €116 | +€96 | +478% |
| Financial charges | 65/66B | €83,871 | €59,914 | -€23,957 | -28.6% |
| Recurring financial charges | 65 | €83,871 | €59,914 | -€23,957 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | -€125,815 | €105,974 | +€231,789 | |
| Income taxes | 67/77 | €693 | €13,169 | +€12,475 | +1,799% |
| Profit (loss) for the period | 9904 | -€126,508 | €92,806 | +€219,314 | |
| Profit (loss) for the period to be appropriated | 9905 | -€126,508 | €92,806 | +€219,314 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.