AP ELEC: 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.
AP ELEC
Largest movements
- Cash +€13,461
up €13,461 (+41.4%), from €32,493 to €45,954
mainly Net result for the year (+€17,484) and Receivables within one year (+€7,986)
- Receivables within one year -€7,986
down €7,986 (-13.6%), from €58,776 to €50,790
of which Other amounts receivable: -€4,229
- Tangible fixed assets -€6,271
down €6,271 (-36.8%), from €17,031 to €10,760
- Deferred charges and accrued income +€1,750
up €1,750 (+155.3%), from €1,127 to €2,877
- Profit (loss) carried forward +€12,484
up €12,484 (+26.9%), from €46,386 to €58,870
- Trade debts -€8,190
down €8,190 (-26.0%), from €31,523 to €23,333
- Other debts -€5,000
down €5,000 (-50.0%), from €10,000 to €5,000
- Tax, wage and social debts +€4,637
up €4,637 (+36.8%), from €12,617 to €17,254
of which Taxes: +€4,895
- Debts after one year -€3,100
down €3,100 (-85.4%), from €3,629 to €529
- Gross operating margin -€13,886
down €13,886 (-20.8%), from €66,847 to €52,961
- Taxes -€4,321
down €4,321 (-48.7%), from €8,875 to €4,554
- Staff costs +€2,467
up €2,467 (+13.4%), from €18,437 to €20,904
- Depreciation +€926
up €926 (+17.3%), from €5,345 to €6,271
- Financial income +€686
new in 2025: €686
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 | €109,632 | €110,586 | +€954 | +0.9% |
| Fixed assets | 21/28 | €17,236 | €10,965 | -€6,271 | -36.4% |
| Tangible fixed assets | 22/27 | €17,031 | €10,760 | -€6,271 | -36.8% |
| Furniture and vehicles | 24 | €17,031 | €10,760 | -€6,271 | -36.8% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €92,396 | €99,621 | +€7,225 | +7.8% |
| Amounts receivable within one year | 40/41 | €58,776 | €50,790 | -€7,986 | -13.6% |
| Trade receivables | 40 | €42,182 | €38,425 | -€3,757 | -8.9% |
| Other amounts receivable | 41 | €16,594 | €12,365 | -€4,229 | -25.5% |
| Cash at bank and in hand | 54/58 | €32,493 | €45,954 | +€13,461 | +41.4% |
| Deferred charges and accrued income | 490/1 | €1,127 | €2,877 | +€1,750 | +155.3% |
| Total equity and liabilities | 10/49 | €109,632 | €110,586 | +€954 | +0.9% |
| Equity | 10/15 | €48,886 | €61,370 | +€12,484 | +25.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,386 | €58,870 | +€12,484 | +26.9% |
| Amounts payable | 17/49 | €60,746 | €49,216 | -€11,530 | -19.0% |
| Amounts payable after more than one year | 17 | €3,629 | €529 | -€3,100 | -85.4% |
| Financial debts | 170/4 | €3,629 | €529 | -€3,100 | -85.4% |
| Amounts payable within one year | 42/48 | €57,117 | €48,687 | -€8,430 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €2,977 | €3,100 | +€123 | +4.1% |
| Trade debts | 44 | €31,523 | €23,333 | -€8,190 | -26.0% |
| Suppliers | 440/4 | €31,523 | €23,333 | -€8,190 | -26.0% |
| Taxes, remuneration and social security | 45 | €12,617 | €17,254 | +€4,637 | +36.8% |
| Taxes | 450/3 | €9,434 | €14,329 | +€4,895 | +51.9% |
| Remuneration and social security | 454/9 | €3,183 | €2,925 | -€258 | -8.1% |
| Other amounts payable | 47/48 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Remuneration, social security and pensions | 62 | €18,437 | €20,904 | +€2,467 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,345 | €6,271 | +€926 | +17.3% |
| Other operating charges | 640/8 | €502 | €404 | -€98 | -19.5% |
| Non-recurring operating charges | 66A | - | €3,709 | +€3,709 | |
| Gross operating margin | 9900 | €66,847 | €52,961 | -€13,886 | -20.8% |
| Operating profit (loss) | 9901 | €42,563 | €21,673 | -€20,890 | -49.1% |
| Financial income | 75/76B | - | €686 | +€686 | |
| Recurring financial income | 75 | - | €686 | +€686 | |
| Financial charges | 65/66B | €583 | €321 | -€262 | -44.9% |
| Recurring financial charges | 65 | €583 | €321 | -€262 | -44.9% |
| Profit (loss) for the period before taxes | 9903 | €41,980 | €22,038 | -€19,942 | -47.5% |
| Income taxes | 67/77 | €8,875 | €4,554 | -€4,321 | -48.7% |
| Profit (loss) for the period | 9904 | €33,105 | €17,484 | -€15,621 | -47.2% |
| Profit (loss) for the period to be appropriated | 9905 | €33,105 | €17,484 | -€15,621 | -47.2% |
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 8 October 2026 via checked.be.