AP HOLDING: 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 HOLDING
Largest movements
- Receivables after one year -€688,000
down €688,000 (-100.0%), from €688,000 to €0
- Receivables within one year +€170,360
up €170,360 (+44.2%), from €385,661 to €556,021
of which Other amounts receivable: +€176,757
- Reserves -€431,883
down €431,883 (-100.0%), from €431,883 to €0
of which Distributable reserves: -€431,883
- Financial income +€579,878
up €579,878 (+273.9%), from €211,737 to €791,615
- Gross operating margin -€9,673
down €9,673 (-394.9%), from -€2,450 to -€12,122
- Financial charges -€1,547
down €1,547 (-12.5%), from €12,403 to €10,856
- Other operating charges -€501
down €501 (-8.1%), from €6,220 to €5,719
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 | €9,372,738 | €8,876,559 | -€496,179 | -5.3% |
| Fixed assets | 21/28 | €8,272,967 | €8,272,967 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,107,155 | €1,107,155 | = | 0.0% |
| Land and buildings | 22 | €1,107,155 | €1,107,155 | = | 0.0% |
| Financial fixed assets | 28 | €7,165,812 | €7,165,812 | = | 0.0% |
| Current assets | 29/58 | €1,099,771 | €603,593 | -€496,179 | -45.1% |
| Amounts receivable after more than one year | 29 | €688,000 | €0 | -€688,000 | -100.0% |
| Other amounts receivable | 291 | €688,000 | €0 | -€688,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €385,661 | €556,021 | +€170,360 | +44.2% |
| Trade receivables | 40 | €7,000 | €603 | -€6,397 | -91.4% |
| Other amounts receivable | 41 | €378,661 | €555,417 | +€176,757 | +46.7% |
| Cash at bank and in hand | 54/58 | €25,232 | €21,198 | -€4,034 | -16.0% |
| Deferred charges and accrued income | 490/1 | €879 | €26,374 | +€25,496 | +2901.2% |
| Total equity and liabilities | 10/49 | €9,372,738 | €8,876,559 | -€496,179 | -5.3% |
| Equity | 10/15 | €7,592,983 | €7,161,100 | -€431,883 | -5.7% |
| Contributions | 10/11 | €7,161,100 | €7,161,100 | = | 0.0% |
| Reserves | 13 | €431,883 | €0 | -€431,883 | -100.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €431,883 | €0 | -€431,883 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,779,755 | €1,715,459 | -€64,295 | -3.6% |
| Amounts payable after more than one year | 17 | €439,607 | €362,339 | -€77,269 | -17.6% |
| Financial debts | 170/4 | €439,607 | €362,339 | -€77,269 | -17.6% |
| Amounts payable within one year | 42/48 | €1,334,632 | €1,347,531 | +€12,899 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €81,813 | €83,632 | +€1,818 | +2.2% |
| Trade debts | 44 | €1,345 | €12,617 | +€11,272 | +838.2% |
| Suppliers | 440/4 | €1,345 | €12,617 | +€11,272 | +838.2% |
| Taxes, remuneration and social security | 45 | - | €4,591 | +€4,591 | |
| Taxes | 450/3 | - | €3,091 | +€3,091 | |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €1,251,474 | €1,246,692 | -€4,782 | -0.4% |
| Accrued charges and deferred income | 492/3 | €5,515 | €5,589 | +€74 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €6,220 | €5,719 | -€501 | -8.1% |
| Gross operating margin | 9900 | -€2,450 | -€12,122 | -€9,673 | -394.9% |
| Operating profit (loss) | 9901 | -€8,670 | -€17,841 | -€9,171 | -105.8% |
| Financial income | 75/76B | €211,737 | €791,615 | +€579,878 | +273.9% |
| Recurring financial income | 75 | €211,737 | €791,615 | +€579,878 | +273.9% |
| Financial charges | 65/66B | €12,403 | €10,856 | -€1,547 | -12.5% |
| Recurring financial charges | 65 | €12,403 | €10,856 | -€1,547 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €190,664 | €762,917 | +€572,253 | +300.1% |
| Profit (loss) for the period | 9904 | €190,664 | €762,917 | +€572,253 | +300.1% |
| Profit (loss) for the period to be appropriated | 9905 | €190,664 | €762,917 | +€572,253 | +300.1% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.