AP IMMO: 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 IMMO
Largest movements
- Tangible fixed assets -€32,600
down €32,600 (-5.4%), from €604,064 to €571,464
- Cash -€9,574
down €9,574 (-23.1%), from €41,401 to €31,828
mainly Debts after one year (-€58,341) and Other debts (-€17,862)
- Debts after one year -€58,341
down €58,341 (-12.0%), from €484,872 to €426,531
- Profit (loss) carried forward +€37,184
up €37,184 (+65.2%), from €57,070 to €94,254
- Other debts -€17,862
down €17,862 (-17.3%), from €103,292 to €85,430
- Financial charges -€1,648
down €1,648 (-10.4%), from €15,812 to €14,163
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 | €736,516 | €697,004 | -€39,512 | -5.4% |
| Fixed assets | 21/28 | €604,064 | €571,464 | -€32,600 | -5.4% |
| Tangible fixed assets | 22/27 | €604,064 | €571,464 | -€32,600 | -5.4% |
| Land and buildings | 22 | €604,064 | €571,464 | -€32,600 | -5.4% |
| Current assets | 29/58 | €132,452 | €125,540 | -€6,912 | -5.2% |
| Amounts receivable within one year | 40/41 | €86,801 | €89,250 | +€2,449 | +2.8% |
| Other amounts receivable | 41 | €86,801 | €89,250 | +€2,449 | +2.8% |
| Cash at bank and in hand | 54/58 | €41,401 | €31,828 | -€9,574 | -23.1% |
| Deferred charges and accrued income | 490/1 | €4,250 | €4,463 | +€213 | +5.0% |
| Total equity and liabilities | 10/49 | €736,516 | €697,004 | -€39,512 | -5.4% |
| Equity | 10/15 | €82,270 | €119,454 | +€37,184 | +45.2% |
| Contributions | 10/11 | €25,200 | €25,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,070 | €94,254 | +€37,184 | +65.2% |
| Amounts payable | 17/49 | €654,247 | €577,551 | -€76,696 | -11.7% |
| Amounts payable after more than one year | 17 | €484,872 | €426,531 | -€58,341 | -12.0% |
| Financial debts | 170/4 | €484,872 | €426,531 | -€58,341 | -12.0% |
| Amounts payable within one year | 42/48 | €163,487 | €146,150 | -€17,337 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €57,350 | €58,340 | +€990 | +1.7% |
| Trade debts | 44 | - | €492 | +€492 | |
| Suppliers | 440/4 | - | €492 | +€492 | |
| Taxes, remuneration and social security | 45 | €2,844 | €1,888 | -€956 | -33.6% |
| Taxes | 450/3 | €2,844 | €1,888 | -€956 | -33.6% |
| Other amounts payable | 47/48 | €103,292 | €85,430 | -€17,862 | -17.3% |
| Accrued charges and deferred income | 492/3 | €5,888 | €4,870 | -€1,018 | -17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,600 | €32,600 | = | 0.0% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €92,881 | €92,341 | -€540 | -0.6% |
| Operating profit (loss) | 9901 | €59,831 | €59,279 | -€552 | -0.9% |
| Financial income | 75/76B | €4,250 | €4,463 | +€213 | +5.0% |
| Recurring financial income | 75 | €4,250 | €4,463 | +€213 | +5.0% |
| Financial charges | 65/66B | €15,812 | €14,163 | -€1,648 | -10.4% |
| Recurring financial charges | 65 | €15,812 | €14,163 | -€1,648 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €48,270 | €49,579 | +€1,309 | +2.7% |
| Income taxes | 67/77 | €12,569 | €12,395 | -€175 | -1.4% |
| Profit (loss) for the period | 9904 | €35,700 | €37,184 | +€1,483 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €35,700 | €37,184 | +€1,483 | +4.2% |
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 2 October 2026 via checked.be.