A.P.B.: 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.
A.P.B.
Largest movements
- Tangible fixed assets -€15,796
down €15,796 (-1.8%), from €901,545 to €885,749
of which Land and buildings: -€13,260
- Cash -€11,833
down €11,833 (-49.7%), from €23,812 to €11,979
mainly Debts after one year (-€50,000) and Investment in fixed assets (net) (-€47,896)
- Other debts +€93,800
up €93,800 (+86.4%), from €108,516 to €202,317
- Debts after one year -€50,000
down €50,000 (-20.8%), from €240,138 to €190,138
- Revaluation surpluses -€34,777
down €34,777 (-5.9%), from €589,400 to €554,624
- Tax, wage and social debts -€30,410
down €30,410 (-100%), from €30,410 to €0
- Trade debts -€13,730
down €13,730 (-71.1%), from €19,303 to €5,573
- Gross operating margin +€16,905
up €16,905 (+54.3%), from €31,113 to €48,018
- Depreciation +€1,754
up €1,754 (+2.8%), from €61,937 to €63,692
- Taxes +€1,334
up €1,334, from €0 to €1,334
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 | €936,616 | €907,758 | -€28,858 | -3.1% |
| Fixed assets | 21/28 | €901,545 | €885,749 | -€15,796 | -1.8% |
| Tangible fixed assets | 22/27 | €901,545 | €885,749 | -€15,796 | -1.8% |
| Land and buildings | 22 | €892,114 | €878,853 | -€13,260 | -1.5% |
| Plant, machinery and equipment | 23 | €7,607 | €5,605 | -€2,002 | -26.3% |
| Furniture and vehicles | 24 | €1,824 | €1,290 | -€534 | -29.3% |
| Current assets | 29/58 | €35,071 | €22,010 | -€13,062 | -37.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €10,759 | €9,973 | -€786 | -7.3% |
| Trade receivables | 40 | €8,913 | €8,246 | -€668 | -7.5% |
| Other amounts receivable | 41 | €1,846 | €1,727 | -€119 | -6.4% |
| Cash at bank and in hand | 54/58 | €23,812 | €11,979 | -€11,833 | -49.7% |
| Deferred charges and accrued income | 490/1 | €500 | €57 | -€443 | -88.5% |
| Total equity and liabilities | 10/49 | €936,616 | €907,758 | -€28,858 | -3.1% |
| Equity | 10/15 | €535,521 | €500,927 | -€34,594 | -6.5% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Revaluation surpluses | 12 | €589,400 | €554,624 | -€34,777 | -5.9% |
| Profit (loss) carried forward | 14 | -€103,458 | -€103,275 | +€183 | +0.2% |
| Amounts payable | 17/49 | €401,095 | €406,831 | +€5,737 | +1.4% |
| Amounts payable after more than one year | 17 | €240,138 | €190,138 | -€50,000 | -20.8% |
| Financial debts | 170/4 | €240,138 | €190,138 | -€50,000 | -20.8% |
| Amounts payable within one year | 42/48 | €158,229 | €207,942 | +€49,712 | +31.4% |
| Financial debts | 43 | €0 | €52 | +€52 | |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | - | €52 | +€52 | |
| Trade debts | 44 | €19,303 | €5,573 | -€13,730 | -71.1% |
| Suppliers | 440/4 | €19,303 | €5,573 | -€13,730 | -71.1% |
| Taxes, remuneration and social security | 45 | €30,410 | €0 | -€30,410 | -100% |
| Taxes | 450/3 | €30,410 | €0 | -€30,410 | -100% |
| Other amounts payable | 47/48 | €108,516 | €202,317 | +€93,800 | +86.4% |
| Accrued charges and deferred income | 492/3 | €2,728 | €8,752 | +€6,024 | +221% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,937 | €63,692 | +€1,754 | +2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €7,455 | €7,138 | -€317 | -4.2% |
| Gross operating margin | 9900 | €31,113 | €48,018 | +€16,905 | +54.3% |
| Operating profit (loss) | 9901 | -€38,279 | -€22,812 | +€15,467 | +40.4% |
| Financial income | 75/76B | €0 | €1 | +€1 | +183% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +183% |
| Financial charges | 65/66B | €10,778 | €10,449 | -€329 | -3.0% |
| Recurring financial charges | 65 | €10,778 | €10,449 | -€329 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | -€49,056 | -€33,260 | +€15,796 | +32.2% |
| Income taxes | 67/77 | €0 | €1,334 | +€1,334 | |
| Profit (loss) for the period | 9904 | -€49,056 | -€34,594 | +€14,462 | +29.5% |
| Transfer from tax-exempt reserves | 789 | €34,777 | €34,777 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,280 | €183 | +€14,462 |
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 14 October 2026 via checked.be.