AP DE HAVEN: 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.
AP DE HAVEN
Largest movements
- Receivables within one year +€50,940
up €50,940 (+290%), from €17,565 to €68,505
of which Other amounts receivable: +€50,940
- Cash +€36,356
up €36,356 (+111%), from €32,718 to €69,074
mainly Net result for the year (+€125,984) and Depreciation (+€7,309)
- Reserves +€125,984
up €125,984 (+30.0%), from €419,543 to €545,527
- Debts after one year -€58,547
down €58,547 (-13.1%), from €445,765 to €387,218
- Financial income +€50,940
new in 2025: €50,940
- Taxes +€6,524
up €6,524 (+21.8%), from €29,954 to €36,478
- Gross operating margin +€3,258
up €3,258 (+2.6%), from €127,331 to €130,589
- Depreciation -€1,421
down €1,421 (-16.3%), from €8,730 to €7,309
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 | €1,041,224 | €1,120,493 | +€79,269 | +7.6% |
| Fixed assets | 21/28 | €989,149 | €981,839 | -€7,309 | -0.7% |
| Tangible fixed assets | 22/27 | €26,754 | €19,445 | -€7,309 | -27.3% |
| Furniture and vehicles | 24 | €26,754 | €19,445 | -€7,309 | -27.3% |
| Financial fixed assets | 28 | €962,395 | €962,395 | = | 0.0% |
| Current assets | 29/58 | €52,075 | €138,654 | +€86,579 | +166% |
| Amounts receivable within one year | 40/41 | €17,565 | €68,505 | +€50,940 | +290% |
| Trade receivables | 40 | €17,545 | €17,545 | = | 0.0% |
| Other amounts receivable | 41 | €20 | €50,960 | +€50,940 | +254,317% |
| Cash at bank and in hand | 54/58 | €32,718 | €69,074 | +€36,356 | +111% |
| Deferred charges and accrued income | 490/1 | €1,792 | €1,075 | -€717 | -40.0% |
| Total equity and liabilities | 10/49 | €1,041,224 | €1,120,493 | +€79,269 | +7.6% |
| Equity | 10/15 | €478,591 | €602,909 | +€124,318 | +26.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €419,543 | €545,527 | +€125,984 | +30.0% |
| Distributable reserves | 133 | €419,543 | €545,527 | +€125,984 | +30.0% |
| Profit (loss) carried forward | 14 | €39,048 | €37,382 | -€1,666 | -4.3% |
| Amounts payable | 17/49 | €562,633 | €517,584 | -€45,049 | -8.0% |
| Amounts payable after more than one year | 17 | €445,765 | €387,218 | -€58,547 | -13.1% |
| Financial debts | 170/4 | €445,765 | €387,218 | -€58,547 | -13.1% |
| Amounts payable within one year | 42/48 | €114,316 | €127,695 | +€13,379 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €57,646 | €58,547 | +€901 | +1.6% |
| Trade debts | 44 | €5,533 | €5,633 | +€101 | +1.8% |
| Suppliers | 440/4 | €5,533 | €5,633 | +€101 | +1.8% |
| Taxes, remuneration and social security | 45 | €13,166 | €19,612 | +€6,446 | +49.0% |
| Taxes | 450/3 | €11,066 | €17,512 | +€6,446 | +58.2% |
| Remuneration and social security | 454/9 | €2,100 | €2,100 | = | 0.0% |
| Other amounts payable | 47/48 | €37,970 | €43,902 | +€5,932 | +15.6% |
| Accrued charges and deferred income | 492/3 | €2,553 | €2,671 | +€118 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,730 | €7,309 | -€1,421 | -16.3% |
| Other operating charges | 640/8 | €1,233 | €1,270 | +€38 | +3.1% |
| Gross operating margin | 9900 | €127,331 | €130,589 | +€3,258 | +2.6% |
| Operating profit (loss) | 9901 | €117,368 | €122,009 | +€4,641 | +4.0% |
| Financial income | 75/76B | - | €50,940 | +€50,940 | |
| Recurring financial income | 75 | - | €50,940 | +€50,940 | |
| Financial charges | 65/66B | €11,452 | €10,487 | -€965 | -8.4% |
| Recurring financial charges | 65 | €11,452 | €10,487 | -€965 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €105,917 | €162,462 | +€56,545 | +53.4% |
| Income taxes | 67/77 | €29,954 | €36,478 | +€6,524 | +21.8% |
| Profit (loss) for the period | 9904 | €75,963 | €125,984 | +€50,022 | +65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €75,963 | €125,984 | +€50,022 | +65.8% |
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 19 October 2026 via checked.be.