A.A.P.: 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.
A.A.P.
Largest movements
- Cash -€11,560
down €11,560 (-14.8%), from €78,273 to €66,713
mainly Other debts (-€29,480) and Debts after one year (-€3,915)
- Tangible fixed assets -€10,105
down €10,105 (-6.1%), from €165,016 to €154,911
of which Land and buildings: -€5,224
- Receivables within one year +€3,217
up €3,217 (+34.8%), from €9,253 to €12,470
of which Trade receivables: +€6,809
- Other debts -€29,480
down €29,480 (-78.9%), from €37,382 to €7,902
- Reserves +€18,432
up €18,432 (+76.3%), from €24,168 to €42,600
- Debts after one year -€3,915
no longer reported in 2025 (was €3,915)
- Trade debts -€3,031
down €3,031 (-86.3%), from €3,512 to €481
- Gross operating margin +€17,802
up €17,802 (+63.8%), from €27,908 to €45,710
- Taxes +€6,499
up €6,499 (+115.7%), from €5,617 to €12,116
- Other operating charges -€792
down €792 (-24.1%), from €3,284 to €2,492
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 | €254,515 | €235,881 | -€18,634 | -7.3% |
| Fixed assets | 21/28 | €165,016 | €154,911 | -€10,105 | -6.1% |
| Tangible fixed assets | 22/27 | €165,016 | €154,911 | -€10,105 | -6.1% |
| Land and buildings | 22 | €156,256 | €151,032 | -€5,224 | -3.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €8,760 | €3,879 | -€4,881 | -55.7% |
| Current assets | 29/58 | €89,499 | €80,970 | -€8,529 | -9.5% |
| Amounts receivable within one year | 40/41 | €9,253 | €12,470 | +€3,217 | +34.8% |
| Trade receivables | 40 | €4,719 | €11,528 | +€6,809 | +144.3% |
| Other amounts receivable | 41 | €4,534 | €942 | -€3,592 | -79.2% |
| Cash at bank and in hand | 54/58 | €78,273 | €66,713 | -€11,560 | -14.8% |
| Deferred charges and accrued income | 490/1 | €1,973 | €1,787 | -€186 | -9.4% |
| Total equity and liabilities | 10/49 | €254,515 | €235,881 | -€18,634 | -7.3% |
| Equity | 10/15 | €203,633 | €222,065 | +€18,432 | +9.1% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Revaluation surpluses | 12 | €154,141 | €154,141 | = | 0.0% |
| Reserves | 13 | €24,168 | €42,600 | +€18,432 | +76.3% |
| Distributable reserves | 133 | €24,168 | €42,600 | +€18,432 | +76.3% |
| Profit (loss) carried forward | 14 | €4,873 | €4,873 | = | 0.0% |
| Amounts payable | 17/49 | €50,882 | €13,816 | -€37,066 | -72.8% |
| Amounts payable after more than one year | 17 | €3,915 | - | -€3,915 | |
| Financial debts | 170/4 | €3,915 | - | -€3,915 | |
| Amounts payable within one year | 42/48 | €46,967 | €13,816 | -€33,151 | -70.6% |
| Current portion of amounts payable after more than one year | 42 | €4,552 | €3,914 | -€638 | -14.0% |
| Trade debts | 44 | €3,512 | €481 | -€3,031 | -86.3% |
| Suppliers | 440/4 | €3,512 | €481 | -€3,031 | -86.3% |
| Taxes, remuneration and social security | 45 | €1,521 | €1,519 | -€2 | -0.1% |
| Taxes | 450/3 | €1,521 | €1,519 | -€2 | -0.1% |
| Other amounts payable | 47/48 | €37,382 | €7,902 | -€29,480 | -78.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,491 | €12,374 | -€117 | -0.9% |
| Other operating charges | 640/8 | €3,284 | €2,492 | -€792 | -24.1% |
| Gross operating margin | 9900 | €27,908 | €45,710 | +€17,802 | +63.8% |
| Operating profit (loss) | 9901 | €12,133 | €30,844 | +€18,711 | +154.2% |
| Financial charges | 65/66B | €430 | €296 | -€134 | -31.2% |
| Recurring financial charges | 65 | €430 | €296 | -€134 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €11,703 | €30,548 | +€18,845 | +161.0% |
| Income taxes | 67/77 | €5,617 | €12,116 | +€6,499 | +115.7% |
| Profit (loss) for the period | 9904 | €6,086 | €18,432 | +€12,346 | +202.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,086 | €18,432 | +€12,346 | +202.9% |
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 6 October 2026 via checked.be.