AKAPTION: 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.
AKAPTION
Largest movements
- Cash -€58,277
down €58,277 (-19.4%), from €299,792 to €241,514
mainly Other debts (-€116,348) and Contributions, distributions and other (-€100,000)
- Intangible fixed assets -€21,500
down €21,500 (-50.0%), from €43,000 to €21,500
- Receivables within one year +€20,343
up €20,343 (+51.2%), from €39,736 to €60,079
of which Trade receivables: +€22,179
- Other debts -€116,348
down €116,348 (-39.3%), from €295,999 to €179,652
- Debts after one year -€68,950
down €68,950 (-17.9%), from €384,658 to €315,708
- Profit (loss) carried forward +€56,542
up €56,542 (+25.8%), from €219,305 to €275,847
- Trade debts +€50,862
up €50,862 (+151.5%), from €33,563 to €84,426
- Staff costs -€135,448
no longer reported in 2025 (was €135,448)
- Gross operating margin -€97,951
down €97,951 (-41.8%), from €234,141 to €136,190
- Financial income +€61,462
up €61,462 (+158.6%), from €38,747 to €100,210
of which Financial income: +€100,206
- Depreciation -€6,721
down €6,721 (-15.1%), from €44,404 to €37,684
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 | €1,032,267 | €967,311 | -€64,956 | -6.3% |
| Fixed assets | 21/28 | €607,139 | €575,895 | -€31,245 | -5.1% |
| Intangible fixed assets | 21 | €43,000 | €21,500 | -€21,500 | -50.0% |
| Tangible fixed assets | 22/27 | €174,946 | €165,202 | -€9,744 | -5.6% |
| Land and buildings | 22 | €160,800 | €147,400 | -€13,400 | -8.3% |
| Plant, machinery and equipment | 23 | €13,944 | €17,802 | +€3,858 | +27.7% |
| Furniture and vehicles | 24 | €202 | €0 | -€202 | -100.0% |
| Financial fixed assets | 28 | €389,193 | €389,192 | -€1 | 0.0% |
| Current assets | 29/58 | €425,127 | €391,416 | -€33,711 | -7.9% |
| Stocks and contracts in progress | 3 | €84,914 | €88,680 | +€3,766 | +4.4% |
| Stocks | 30/36 | €84,914 | €88,680 | +€3,766 | +4.4% |
| Amounts receivable within one year | 40/41 | €39,736 | €60,079 | +€20,343 | +51.2% |
| Trade receivables | 40 | €37,899 | €60,079 | +€22,179 | +58.5% |
| Other amounts receivable | 41 | €1,837 | €0 | -€1,837 | -100.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €299,792 | €241,514 | -€58,277 | -19.4% |
| Deferred charges and accrued income | 490/1 | €686 | €1,143 | +€457 | +66.6% |
| Total equity and liabilities | 10/49 | €1,032,267 | €967,311 | -€64,956 | -6.3% |
| Equity | 10/15 | €239,765 | €296,307 | +€56,542 | +23.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €219,305 | €275,847 | +€56,542 | +25.8% |
| Amounts payable | 17/49 | €792,501 | €671,004 | -€121,498 | -15.3% |
| Amounts payable after more than one year | 17 | €384,658 | €315,708 | -€68,950 | -17.9% |
| Financial debts | 170/4 | €384,658 | €315,708 | -€68,950 | -17.9% |
| Amounts payable within one year | 42/48 | €407,844 | €355,296 | -€52,548 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €68,771 | €72,050 | +€3,280 | +4.8% |
| Trade debts | 44 | €33,563 | €84,426 | +€50,862 | +151.5% |
| Suppliers | 440/4 | €33,563 | €84,426 | +€50,862 | +151.5% |
| Taxes, remuneration and social security | 45 | €9,510 | €19,168 | +€9,658 | +101.6% |
| Taxes | 450/3 | €9,510 | €17,312 | +€7,802 | +82.0% |
| Remuneration and social security | 454/9 | €0 | €1,856 | +€1,856 | |
| Other amounts payable | 47/48 | €295,999 | €179,652 | -€116,348 | -39.3% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €135,448 | - | -€135,448 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,404 | €37,684 | -€6,721 | -15.1% |
| Other operating charges | 640/8 | €1,861 | €3,265 | +€1,404 | +75.4% |
| Gross operating margin | 9900 | €234,141 | €136,190 | -€97,951 | -41.8% |
| Operating profit (loss) | 9901 | €52,427 | €95,242 | +€42,815 | +81.7% |
| Financial income | 75/76B | €38,747 | €100,210 | +€61,462 | +158.6% |
| Recurring financial income | 75 | €3 | €100,210 | +€100,206 | +3045782.4% |
| Non-recurring financial income | 76B | €38,744 | - | -€38,744 | |
| Financial charges | 65/66B | €20,300 | €19,770 | -€530 | -2.6% |
| Recurring financial charges | 65 | €20,300 | €19,770 | -€530 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €70,874 | €175,682 | +€104,807 | +147.9% |
| Income taxes | 67/77 | €19,162 | €19,140 | -€22 | -0.1% |
| Profit (loss) for the period | 9904 | €51,713 | €156,542 | +€104,829 | +202.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,713 | €156,542 | +€104,829 | +202.7% |
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 6 October 2026 via checked.be.