AP law: 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 law
Largest movements
- Receivables within one year -€5,799
down €5,799 (-12.7%), from €45,834 to €40,035
- Tangible fixed assets -€2,441
down €2,441 (-13.8%), from €17,668 to €15,227
of which Furniture and vehicles: -€1,426
- Cash +€1,569
up €1,569 (+23.9%), from €6,563 to €8,132
mainly Receivables within one year (+€5,799) and Net result for the year (+€5,185)
- Tax, wage and social debts -€7,169
down €7,169 (-44.2%), from €16,231 to €9,062
- Reserves +€5,185
up €5,185 (+14.0%), from €37,067 to €42,252
- Current portion of long-term debt -€3,068
no longer reported in 2025 (was €3,068)
- Trade debts -€924
down €924 (-29.5%), from €3,131 to €2,207
- Other debts -€898
down €898 (-26.9%), from €3,337 to €2,439
- Gross operating margin -€25,903
down €25,903 (-65.0%), from €39,834 to €13,931
- Taxes -€4,387
down €4,387 (-53.2%), from €8,244 to €3,857
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 | €71,375 | €64,501 | -€6,874 | -9.6% |
| Formation expenses | 20 | €203 | - | -€203 | |
| Fixed assets | 21/28 | €17,668 | €15,227 | -€2,441 | -13.8% |
| Tangible fixed assets | 22/27 | €17,668 | €15,227 | -€2,441 | -13.8% |
| Furniture and vehicles | 24 | €4,523 | €3,097 | -€1,426 | -31.5% |
| Other tangible fixed assets | 26 | €13,145 | €12,130 | -€1,015 | -7.7% |
| Current assets | 29/58 | €53,504 | €49,274 | -€4,230 | -7.9% |
| Amounts receivable within one year | 40/41 | €45,834 | €40,035 | -€5,799 | -12.7% |
| Trade receivables | 40 | €45,834 | €40,035 | -€5,799 | -12.7% |
| Cash at bank and in hand | 54/58 | €6,563 | €8,132 | +€1,569 | +23.9% |
| Deferred charges and accrued income | 490/1 | €1,107 | €1,107 | = | 0.0% |
| Total equity and liabilities | 10/49 | €71,375 | €64,501 | -€6,874 | -9.6% |
| Equity | 10/15 | €45,608 | €50,793 | +€5,185 | +11.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €37,067 | €42,252 | +€5,185 | +14.0% |
| Distributable reserves | 133 | €37,067 | €42,252 | +€5,185 | +14.0% |
| Profit (loss) carried forward | 14 | -€11,919 | -€11,919 | = | 0.0% |
| Amounts payable | 17/49 | €25,767 | €13,708 | -€12,059 | -46.8% |
| Amounts payable within one year | 42/48 | €25,767 | €13,708 | -€12,059 | -46.8% |
| Current portion of amounts payable after more than one year | 42 | €3,068 | - | -€3,068 | |
| Trade debts | 44 | €3,131 | €2,207 | -€924 | -29.5% |
| Suppliers | 440/4 | €3,131 | €2,207 | -€924 | -29.5% |
| Taxes, remuneration and social security | 45 | €16,231 | €9,062 | -€7,169 | -44.2% |
| Taxes | 450/3 | €16,231 | €9,062 | -€7,169 | -44.2% |
| Other amounts payable | 47/48 | €3,337 | €2,439 | -€898 | -26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,971 | €3,718 | -€253 | -6.4% |
| Other operating charges | 640/8 | €673 | €847 | +€174 | +25.9% |
| Gross operating margin | 9900 | €39,834 | €13,931 | -€25,903 | -65.0% |
| Operating profit (loss) | 9901 | €35,190 | €9,366 | -€25,824 | -73.4% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €393 | €324 | -€69 | -17.6% |
| Recurring financial charges | 65 | €393 | €324 | -€69 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €34,802 | €9,042 | -€25,760 | -74.0% |
| Income taxes | 67/77 | €8,244 | €3,857 | -€4,387 | -53.2% |
| Profit (loss) for the period | 9904 | €26,558 | €5,185 | -€21,373 | -80.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,558 | €5,185 | -€21,373 | -80.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.