A.P.N.: 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.N.
Largest movements
- Receivables within one year +€25,015
up €25,015 (+41.4%), from €60,366 to €85,381
of which Other amounts receivable: +€46,866
- Cash -€22,169
down €22,169 (-64.6%), from €34,296 to €12,127
mainly Receivables within one year (-€25,015) and Other debts (-€8,984)
- Tangible fixed assets -€7,366
down €7,366 (-100%), from €7,366 to €0
of which Plant, machinery and equipment: -€4,668
- Stocks and contracts -€1,550
down €1,550 (-5.6%), from €27,549 to €25,999
- Other debts -€8,984
no longer reported in 2025 (was €8,984)
- Profit (loss) carried forward +€2,811
up €2,811 (+20.4%), from €13,794 to €16,605
- Turnover -€233,959
no longer reported in 2025 (was €233,959)
- Gross operating margin +€49,811
up €49,811 (+262%), from €18,978 to €68,789
- Other operating charges +€41,490
up €41,490 (+2,829%), from €1,466 to €42,957
- Purchases and services +€20,038
up €20,038 (+7.2%), from €278,663 to €298,701
- Depreciation +€6,994
up €6,994 (+1,876%), from €373 to €7,366
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 | €129,998 | €123,928 | -€6,070 | -4.7% |
| Fixed assets | 21/28 | €7,788 | €421 | -€7,366 | -94.6% |
| Tangible fixed assets | 22/27 | €7,366 | €0 | -€7,366 | -100% |
| Plant, machinery and equipment | 23 | €4,668 | - | -€4,668 | |
| Furniture and vehicles | 24 | €2,698 | €0 | -€2,698 | -100% |
| Financial fixed assets | 28 | €421 | €421 | = | 0.0% |
| Current assets | 29/58 | €122,210 | €123,507 | +€1,297 | +1.1% |
| Stocks and contracts in progress | 3 | €27,549 | €25,999 | -€1,550 | -5.6% |
| Stocks | 30/36 | €27,549 | €25,999 | -€1,550 | -5.6% |
| Amounts receivable within one year | 40/41 | €60,366 | €85,381 | +€25,015 | +41.4% |
| Trade receivables | 40 | €41,501 | €19,650 | -€21,851 | -52.7% |
| Other amounts receivable | 41 | €18,865 | €65,731 | +€46,866 | +248% |
| Cash at bank and in hand | 54/58 | €34,296 | €12,127 | -€22,169 | -64.6% |
| Total equity and liabilities | 10/49 | €129,998 | €123,928 | -€6,070 | -4.7% |
| Equity | 10/15 | €117,958 | €120,769 | +€2,811 | +2.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €85,572 | €85,572 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €83,713 | €83,713 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,794 | €16,605 | +€2,811 | +20.4% |
| Amounts payable | 17/49 | €12,040 | €3,160 | -€8,881 | -73.8% |
| Amounts payable within one year | 42/48 | €12,040 | €3,160 | -€8,881 | -73.8% |
| Financial debts | 43 | - | €381 | +€381 | |
| Credit institutions | 430/8 | - | €381 | +€381 | |
| Taxes, remuneration and social security | 45 | €3,057 | €2,779 | -€278 | -9.1% |
| Taxes | 450/3 | €585 | €2,779 | +€2,194 | +375% |
| Remuneration and social security | 454/9 | €2,472 | - | -€2,472 | |
| Other amounts payable | 47/48 | €8,984 | - | -€8,984 | |
| Turnover | 70 | €233,959 | - | -€233,959 | |
| Goods, raw materials, services and sundry goods | 60/61 | €278,663 | €298,701 | +€20,038 | +7.2% |
| Remuneration, social security and pensions | 62 | €16,976 | €15,270 | -€1,706 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €373 | €7,366 | +€6,994 | +1,876% |
| Other operating charges | 640/8 | €1,466 | €42,957 | +€41,490 | +2,829% |
| Gross operating margin | 9900 | €18,978 | €68,789 | +€49,811 | +262% |
| Operating profit (loss) | 9901 | €163 | €3,197 | +€3,034 | +1,862% |
| Financial charges | 65/66B | €457 | €386 | -€71 | -15.5% |
| Recurring financial charges | 65 | €457 | €386 | -€71 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | -€294 | €2,811 | +€3,104 | |
| Profit (loss) for the period | 9904 | -€294 | €2,811 | +€3,104 | |
| Profit (loss) for the period to be appropriated | 9905 | -€294 | €2,811 | +€3,104 |
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 15 October 2026 via checked.be.