AAP IMMO: 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.
AAP IMMO
Largest movements
- Cash +€24,475
up €24,475 (+74.6%), from €32,792 to €57,267
mainly Net result for the year (+€36,869) and Depreciation (+€12,799)
- Tangible fixed assets -€12,799
down €12,799 (-2.8%), from €458,479 to €445,679
- Reserves +€36,869
up €36,869 (+43.7%), from €84,463 to €121,332
- Debts after one year -€21,027
down €21,027 (-7.8%), from €270,923 to €249,896
- Gross operating margin -€1,850
down €1,850 (-2.4%), from €77,099 to €75,249
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 | €497,850 | €510,808 | +€12,958 | +2.6% |
| Fixed assets | 21/28 | €458,479 | €445,679 | -€12,799 | -2.8% |
| Tangible fixed assets | 22/27 | €458,479 | €445,679 | -€12,799 | -2.8% |
| Land and buildings | 22 | €458,479 | €445,679 | -€12,799 | -2.8% |
| Current assets | 29/58 | €39,371 | €65,128 | +€25,757 | +65.4% |
| Amounts receivable within one year | 40/41 | €64 | €774 | +€710 | +1113.5% |
| Other amounts receivable | 41 | €64 | €774 | +€710 | +1113.5% |
| Cash at bank and in hand | 54/58 | €32,792 | €57,267 | +€24,475 | +74.6% |
| Deferred charges and accrued income | 490/1 | €6,515 | €7,087 | +€572 | +8.8% |
| Total equity and liabilities | 10/49 | €497,850 | €510,808 | +€12,958 | +2.6% |
| Equity | 10/15 | €195,463 | €232,332 | +€36,869 | +18.9% |
| Contributions | 10/11 | €111,000 | €111,000 | = | 0.0% |
| Reserves | 13 | €84,463 | €121,332 | +€36,869 | +43.7% |
| Distributable reserves | 133 | €84,463 | €121,332 | +€36,869 | +43.7% |
| Amounts payable | 17/49 | €302,387 | €278,476 | -€23,911 | -7.9% |
| Amounts payable after more than one year | 17 | €270,923 | €249,896 | -€21,027 | -7.8% |
| Financial debts | 170/4 | €270,923 | €249,896 | -€21,027 | -7.8% |
| Amounts payable within one year | 42/48 | €30,831 | €28,233 | -€2,597 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €20,668 | €21,027 | +€360 | +1.7% |
| Financial debts | 43 | €856 | €854 | -€1 | -0.2% |
| Credit institutions | 430/8 | €856 | €854 | -€1 | -0.2% |
| Taxes, remuneration and social security | 45 | €3,398 | - | -€3,398 | |
| Taxes | 450/3 | €3,398 | - | -€3,398 | |
| Other amounts payable | 47/48 | €5,909 | €6,352 | +€443 | +7.5% |
| Accrued charges and deferred income | 492/3 | €633 | €346 | -€287 | -45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,799 | €12,799 | = | 0.0% |
| Other operating charges | 640/8 | €6,934 | €7,148 | +€215 | +3.1% |
| Gross operating margin | 9900 | €77,099 | €75,249 | -€1,850 | -2.4% |
| Operating profit (loss) | 9901 | €57,366 | €55,301 | -€2,065 | -3.6% |
| Financial charges | 65/66B | €6,690 | €6,143 | -€547 | -8.2% |
| Recurring financial charges | 65 | €6,690 | €6,143 | -€547 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €50,676 | €49,158 | -€1,518 | -3.0% |
| Income taxes | 67/77 | €12,669 | €12,290 | -€379 | -3.0% |
| Profit (loss) for the period | 9904 | €38,007 | €36,869 | -€1,138 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,007 | €36,869 | -€1,138 | -3.0% |
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 8 October 2026 via checked.be.