AAPUS: 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.
AAPUS
Largest movements
- Cash +€15,924
up €15,924 (+610.7%), from €2,608 to €18,532
mainly Other debts (+€59,924) and Net result for the year (+€40,135)
- Receivables within one year -€14,711
down €14,711 (-37.5%), from €39,220 to €24,508
of which Trade receivables: -€11,541
- Other debts +€59,924
up €59,924 (+658.0%), from €9,107 to €69,031
- Debts after one year -€34,282
down €34,282 (-49.5%), from €69,287 to €35,005
- Reserves -€28,896
down €28,896 (-18.3%), from €157,581 to €128,685
of which Distributable reserves: -€28,896
- Gross operating margin +€9,075
up €9,075 (+17.1%), from €53,146 to €62,220
- Taxes +€3,373
up €3,373 (+21.0%), from €16,098 to €19,471
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 | €352,189 | €353,401 | +€1,213 | +0.3% |
| Fixed assets | 21/28 | €310,362 | €310,362 | = | 0.0% |
| Tangible fixed assets | 22/27 | €13,362 | €13,362 | = | 0.0% |
| Other tangible fixed assets | 26 | €13,362 | €13,362 | = | 0.0% |
| Financial fixed assets | 28 | €297,000 | €297,000 | = | 0.0% |
| Current assets | 29/58 | €41,827 | €43,040 | +€1,213 | +2.9% |
| Amounts receivable within one year | 40/41 | €39,220 | €24,508 | -€14,711 | -37.5% |
| Trade receivables | 40 | €12,100 | €559 | -€11,541 | -95.4% |
| Other amounts receivable | 41 | €27,120 | €23,949 | -€3,170 | -11.7% |
| Cash at bank and in hand | 54/58 | €2,608 | €18,532 | +€15,924 | +610.7% |
| Total equity and liabilities | 10/49 | €352,189 | €353,401 | +€1,213 | +0.3% |
| Equity | 10/15 | €195,537 | €166,640 | -€28,896 | -14.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €157,581 | €128,685 | -€28,896 | -18.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €155,721 | €126,825 | -€28,896 | -18.6% |
| Profit (loss) carried forward | 14 | €25,556 | €25,556 | = | 0.0% |
| Amounts payable | 17/49 | €156,652 | €186,761 | +€30,109 | +19.2% |
| Amounts payable after more than one year | 17 | €69,287 | €35,005 | -€34,282 | -49.5% |
| Financial debts | 170/4 | €69,287 | €35,005 | -€34,282 | -49.5% |
| Amounts payable within one year | 42/48 | €87,365 | €151,757 | +€64,391 | +73.7% |
| Current portion of amounts payable after more than one year | 42 | €36,591 | €38,401 | +€1,810 | +4.9% |
| Trade debts | 44 | €29,653 | €29,826 | +€173 | +0.6% |
| Suppliers | 440/4 | €29,653 | €29,826 | +€173 | +0.6% |
| Taxes, remuneration and social security | 45 | €12,014 | €14,498 | +€2,484 | +20.7% |
| Taxes | 450/3 | €12,014 | €14,498 | +€2,484 | +20.7% |
| Other amounts payable | 47/48 | €9,107 | €69,031 | +€59,924 | +658.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €229 | - | -€229 | |
| Other operating charges | 640/8 | €754 | €387 | -€367 | -48.6% |
| Gross operating margin | 9900 | €53,146 | €62,220 | +€9,075 | +17.1% |
| Operating profit (loss) | 9901 | €52,162 | €61,833 | +€9,671 | +18.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,657 | €2,227 | -€430 | -16.2% |
| Recurring financial charges | 65 | €2,657 | €2,227 | -€430 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €49,505 | €59,606 | +€10,101 | +20.4% |
| Income taxes | 67/77 | €16,098 | €19,471 | +€3,373 | +21.0% |
| Profit (loss) for the period | 9904 | €33,407 | €40,135 | +€6,728 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,407 | €40,135 | +€6,728 | +20.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.