AAPF: 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.
AAPF
Largest movements
- Cash -€7,193
down €7,193 (-99.9%), from €7,202 to €9
mainly Contributions, distributions and other (-€14,500) and Investment in fixed assets (net) (-€4,090)
- Receivables within one year -€4,116
down €4,116 (-16.8%), from €24,527 to €20,410
of which Other amounts receivable: -€3,956
- Tangible fixed assets +€3,387
up €3,387 (+574.4%), from €590 to €3,976
of which Leasing and similar rights: +€3,028
- Deferred charges and accrued income -€1,534
down €1,534 (-68.3%), from €2,246 to €711
- Profit (loss) carried forward -€12,177
down €12,177 (-75.0%), from €16,236 to €4,059
- Other debts +€4,252
new in 2025: €4,252
- Trade debts -€2,356
down €2,356 (-60.2%), from €3,911 to €1,556
- Tax, wage and social debts +€824
up €824 (+6.9%), from €11,916 to €12,740
of which Taxes: +€1,569
- Gross operating margin -€4,474
down €4,474 (-38.0%), from €11,783 to €7,310
- Taxes -€1,159
down €1,159 (-49.5%), from €2,339 to €1,180
- Other operating charges +€691
up €691 (+29.1%), from €2,373 to €3,064
- Financial charges -€330
down €330 (-99.7%), from €331 to €1
- Financial income -€235
down €235 (-99.2%), from €237 to €2
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 | €34,564 | €25,107 | -€9,457 | -27.4% |
| Fixed assets | 21/28 | €590 | €3,976 | +€3,387 | +574.4% |
| Tangible fixed assets | 22/27 | €590 | €3,976 | +€3,387 | +574.4% |
| Plant, machinery and equipment | 23 | - | €451 | +€451 | |
| Furniture and vehicles | 24 | €590 | - | -€590 | |
| Leasing and similar rights | 25 | - | €3,028 | +€3,028 | |
| Other tangible fixed assets | 26 | - | €497 | +€497 | |
| Current assets | 29/58 | €33,974 | €21,130 | -€12,844 | -37.8% |
| Amounts receivable within one year | 40/41 | €24,527 | €20,410 | -€4,116 | -16.8% |
| Trade receivables | 40 | €20,570 | €20,410 | -€160 | -0.8% |
| Other amounts receivable | 41 | €3,957 | €0 | -€3,956 | -100.0% |
| Cash at bank and in hand | 54/58 | €7,202 | €9 | -€7,193 | -99.9% |
| Deferred charges and accrued income | 490/1 | €2,246 | €711 | -€1,534 | -68.3% |
| Total equity and liabilities | 10/49 | €34,564 | €25,107 | -€9,457 | -27.4% |
| Equity | 10/15 | €18,736 | €6,559 | -€12,177 | -65.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,236 | €4,059 | -€12,177 | -75.0% |
| Amounts payable | 17/49 | €15,827 | €18,548 | +€2,721 | +17.2% |
| Amounts payable within one year | 42/48 | €15,827 | €18,548 | +€2,721 | +17.2% |
| Trade debts | 44 | €3,911 | €1,556 | -€2,356 | -60.2% |
| Suppliers | 440/4 | €3,911 | €1,556 | -€2,356 | -60.2% |
| Taxes, remuneration and social security | 45 | €11,916 | €12,740 | +€824 | +6.9% |
| Taxes | 450/3 | €9,421 | €10,990 | +€1,569 | +16.7% |
| Remuneration and social security | 454/9 | €2,495 | €1,750 | -€745 | -29.9% |
| Other amounts payable | 47/48 | - | €4,252 | +€4,252 | |
| Remuneration, social security and pensions | 62 | - | €40 | +€40 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €553 | €703 | +€150 | +27.2% |
| Other operating charges | 640/8 | €2,373 | €3,064 | +€691 | +29.1% |
| Gross operating margin | 9900 | €11,783 | €7,310 | -€4,474 | -38.0% |
| Operating profit (loss) | 9901 | €8,858 | €3,502 | -€5,356 | -60.5% |
| Financial income | 75/76B | €237 | €2 | -€235 | -99.2% |
| Recurring financial income | 75 | €237 | €2 | -€235 | -99.2% |
| Financial charges | 65/66B | €331 | €1 | -€330 | -99.7% |
| Recurring financial charges | 65 | €331 | €1 | -€330 | -99.7% |
| Profit (loss) for the period before taxes | 9903 | €8,763 | €3,503 | -€5,260 | -60.0% |
| Income taxes | 67/77 | €2,339 | €1,180 | -€1,159 | -49.5% |
| Profit (loss) for the period | 9904 | €6,424 | €2,323 | -€4,102 | -63.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,424 | €2,323 | -€4,102 | -63.8% |
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 29 September 2026 via checked.be.