AJ Apen: 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.
AJ Apen
Largest movements
- Receivables within one year -€14,871
down €14,871 (-83.0%), from €17,914 to €3,044
of which Trade receivables: -€9,983
- Cash +€5,441
up €5,441 (+45.3%), from €12,015 to €17,456
mainly Receivables within one year (+€14,871) and Depreciation (+€6,164)
- Profit (loss) carried forward -€9,335
down €9,335 (-767%), from -€1,218 to -€10,553
- Trade debts -€6,203
down €6,203 (-57.4%), from €10,798 to €4,595
- Other debts +€5,823
up €5,823 (+9.9%), from €58,687 to €64,510
- Gross operating margin +€22,694
up €22,694, from -€22,418 to €275
- Staff costs -€7,489
down €7,489 (-85.3%), from €8,783 to €1,294
- Depreciation -€1,155
down €1,155 (-15.8%), from €7,319 to €6,164
- Taxes +€839
up €839 (+345%), from €243 to €1,082
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 | €79,430 | €70,283 | -€9,148 | -11.5% |
| Fixed assets | 21/28 | €49,254 | €49,037 | -€217 | -0.4% |
| Tangible fixed assets | 22/27 | €43,254 | €43,037 | -€217 | -0.5% |
| Plant, machinery and equipment | 23 | €7,557 | €9,911 | +€2,353 | +31.1% |
| Furniture and vehicles | 24 | €3,512 | €1,812 | -€1,700 | -48.4% |
| Other tangible fixed assets | 26 | €32,185 | €31,315 | -€870 | -2.7% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €30,177 | €21,246 | -€8,931 | -29.6% |
| Stocks and contracts in progress | 3 | - | €489 | +€489 | |
| Stocks | 30/36 | - | €489 | +€489 | |
| Amounts receivable within one year | 40/41 | €17,914 | €3,044 | -€14,871 | -83.0% |
| Trade receivables | 40 | €10,831 | €848 | -€9,983 | -92.2% |
| Other amounts receivable | 41 | €7,083 | €2,196 | -€4,888 | -69.0% |
| Cash at bank and in hand | 54/58 | €12,015 | €17,456 | +€5,441 | +45.3% |
| Deferred charges and accrued income | 490/1 | €247 | €256 | +€9 | +3.7% |
| Total equity and liabilities | 10/49 | €79,430 | €70,283 | -€9,148 | -11.5% |
| Equity | 10/15 | €2,782 | -€6,553 | -€9,335 | |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,218 | -€10,553 | -€9,335 | -767% |
| Amounts payable | 17/49 | €76,648 | €76,836 | +€188 | +0.2% |
| Amounts payable within one year | 42/48 | €76,648 | €76,836 | +€188 | +0.2% |
| Trade debts | 44 | €10,798 | €4,595 | -€6,203 | -57.4% |
| Suppliers | 440/4 | €10,798 | €4,595 | -€6,203 | -57.4% |
| Taxes, remuneration and social security | 45 | €7,163 | €7,731 | +€568 | +7.9% |
| Taxes | 450/3 | €6,474 | €7,731 | +€1,257 | +19.4% |
| Remuneration and social security | 454/9 | €689 | - | -€689 | |
| Other amounts payable | 47/48 | €58,687 | €64,510 | +€5,823 | +9.9% |
| Non-recurring operating income | 76A | - | €3 | +€3 | |
| Remuneration, social security and pensions | 62 | €8,783 | €1,294 | -€7,489 | -85.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,319 | €6,164 | -€1,155 | -15.8% |
| Other operating charges | 640/8 | €1,071 | €978 | -€93 | -8.7% |
| Gross operating margin | 9900 | -€22,418 | €275 | +€22,694 | |
| Operating profit (loss) | 9901 | -€39,591 | -€8,160 | +€31,431 | +79.4% |
| Financial income | 75/76B | - | €113 | +€113 | |
| Recurring financial income | 75 | - | €113 | +€113 | |
| Financial charges | 65/66B | €199 | €207 | +€7 | +3.6% |
| Recurring financial charges | 65 | €199 | €207 | +€7 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | -€39,790 | -€8,253 | +€31,537 | +79.3% |
| Income taxes | 67/77 | €243 | €1,082 | +€839 | +345% |
| Profit (loss) for the period | 9904 | -€40,033 | -€9,335 | +€30,698 | +76.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,033 | -€9,335 | +€30,698 | +76.7% |
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 26 October 2026 via checked.be.