A.P.O.V.: 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.O.V.
Largest movements
- Receivables within one year +€27,336
up €27,336 (+10.8%), from €253,261 to €280,596
of which Other amounts receivable: +€75,319
- Tangible fixed assets -€3,362
down €3,362 (-10.6%), from €31,728 to €28,366
- Profit (loss) carried forward +€26,068
up €26,068 (+18.3%), from €142,626 to €168,694
- Current portion of long-term debt -€5,000
no longer reported in 2025 (was €5,000)
- Tax, wage and social debts +€4,746
up €4,746 (+38.0%), from €12,494 to €17,239
- Gross operating margin +€10,986
up €10,986 (+36.7%), from €29,948 to €40,934
- Taxes +€2,997
up €2,997 (+44.3%), from €6,767 to €9,764
- Financial charges +€579
up €579 (+39.6%), from €1,462 to €2,041
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 | €285,073 | €309,006 | +€23,933 | +8.4% |
| Fixed assets | 21/28 | €31,728 | €28,366 | -€3,362 | -10.6% |
| Tangible fixed assets | 22/27 | €31,728 | €28,366 | -€3,362 | -10.6% |
| Land and buildings | 22 | €31,728 | €28,366 | -€3,362 | -10.6% |
| Current assets | 29/58 | €253,345 | €280,641 | +€27,295 | +10.8% |
| Amounts receivable within one year | 40/41 | €253,261 | €280,596 | +€27,336 | +10.8% |
| Trade receivables | 40 | €70,680 | €22,696 | -€47,984 | -67.9% |
| Other amounts receivable | 41 | €182,580 | €257,900 | +€75,319 | +41.3% |
| Cash at bank and in hand | 54/58 | €85 | €44 | -€41 | -47.7% |
| Total equity and liabilities | 10/49 | €285,073 | €309,006 | +€23,933 | +8.4% |
| Equity | 10/15 | €150,695 | €176,763 | +€26,068 | +17.3% |
| Contributions | 10/11 | €6,209 | €6,209 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €142,626 | €168,694 | +€26,068 | +18.3% |
| Provisions and deferred taxes | 16 | €33,000 | €33,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €33,000 | €33,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €24,000 | €24,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €9,000 | €9,000 | = | 0.0% |
| Amounts payable | 17/49 | €101,378 | €99,244 | -€2,135 | -2.1% |
| Amounts payable after more than one year | 17 | €65,000 | €65,000 | = | 0.0% |
| Financial debts | 170/4 | €65,000 | €65,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,378 | €34,244 | -€2,135 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | - | -€5,000 | |
| Trade debts | 44 | €18,885 | €17,004 | -€1,880 | -10.0% |
| Suppliers | 440/4 | €18,885 | €17,004 | -€1,880 | -10.0% |
| Taxes, remuneration and social security | 45 | €12,494 | €17,239 | +€4,746 | +38.0% |
| Taxes | 450/3 | €12,494 | €17,239 | +€4,746 | +38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,362 | €3,362 | = | 0.0% |
| Other operating charges | 640/8 | €1,279 | €1,318 | +€39 | +3.1% |
| Gross operating margin | 9900 | €29,948 | €40,934 | +€10,986 | +36.7% |
| Operating profit (loss) | 9901 | €25,307 | €36,253 | +€10,947 | +43.3% |
| Financial income | 75/76B | €1,511 | €1,619 | +€108 | +7.2% |
| Recurring financial income | 75 | €1,511 | €1,619 | +€108 | +7.2% |
| Financial charges | 65/66B | €1,462 | €2,041 | +€579 | +39.6% |
| Recurring financial charges | 65 | €1,462 | €2,041 | +€579 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €25,356 | €35,832 | +€10,476 | +41.3% |
| Income taxes | 67/77 | €6,767 | €9,764 | +€2,997 | +44.3% |
| Profit (loss) for the period | 9904 | €18,589 | €26,068 | +€7,479 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,589 | €26,068 | +€7,479 | +40.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.