AP LETTERING PROD: 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 LETTERING PROD
Largest movements
- Tangible fixed assets -€5,036
no longer reported in 2025 (was €5,036)
of which Furniture and vehicles: -€4,216
- Receivables within one year -€1,259
down €1,259 (-98.9%), from €1,272 to €13
of which Trade receivables: -€1,272
- Cash +€353
up €353 (+363%), from €97 to €450
mainly Investment in fixed assets (net) (+€5,036) and Receivables within one year (+€1,259)
- Deferred charges and accrued income +€333
up €333 (+199%), from €167 to €500
- Current portion of long-term debt -€2,100
no longer reported in 2025 (was €2,100)
- Tax, wage and social debts -€1,320
down €1,320 (-83.1%), from €1,589 to €268
of which Taxes: -€970
- Debts after one year -€1,086
no longer reported in 2025 (was €1,086)
- Profit (loss) carried forward -€518
down €518 (-14.6%), from -€3,562 to -€4,080
- Trade debts -€407
down €407 (-32.7%), from €1,244 to €837
- Other operating charges +€4,925
up €4,925 (+514%), from €958 to €5,882
- Gross operating margin +€4,042
up €4,042 (+253%), from €1,600 to €5,642
- Depreciation -€1,454
no longer reported in 2025 (was €1,454)
- Financial charges -€168
down €168 (-38.2%), from €439 to €271
- Taxes -€58
no longer reported in 2025 (was €58)
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 | €6,573 | €964 | -€5,609 | -85.3% |
| Fixed assets | 21/28 | €5,036 | - | -€5,036 | |
| Tangible fixed assets | 22/27 | €5,036 | - | -€5,036 | |
| Furniture and vehicles | 24 | €4,216 | - | -€4,216 | |
| Other tangible fixed assets | 26 | €821 | - | -€821 | |
| Current assets | 29/58 | €1,536 | €964 | -€573 | -37.3% |
| Amounts receivable within one year | 40/41 | €1,272 | €13 | -€1,259 | -98.9% |
| Trade receivables | 40 | €1,272 | - | -€1,272 | |
| Other amounts receivable | 41 | - | €13 | +€13 | |
| Cash at bank and in hand | 54/58 | €97 | €450 | +€353 | +363% |
| Deferred charges and accrued income | 490/1 | €167 | €500 | +€333 | +199% |
| Total equity and liabilities | 10/49 | €6,573 | €964 | -€5,609 | -85.3% |
| Equity | 10/15 | -€3,512 | -€4,030 | -€518 | -14.8% |
| Contributions | 10/11 | €50 | €50 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,562 | -€4,080 | -€518 | -14.6% |
| Amounts payable | 17/49 | €10,085 | €4,994 | -€5,091 | -50.5% |
| Amounts payable after more than one year | 17 | €1,086 | - | -€1,086 | |
| Financial debts | 170/4 | €1,086 | - | -€1,086 | |
| Amounts payable within one year | 42/48 | €8,611 | €4,994 | -€3,617 | -42.0% |
| Current portion of amounts payable after more than one year | 42 | €2,100 | - | -€2,100 | |
| Trade debts | 44 | €1,244 | €837 | -€407 | -32.7% |
| Suppliers | 440/4 | €1,244 | €837 | -€407 | -32.7% |
| Taxes, remuneration and social security | 45 | €1,589 | €268 | -€1,320 | -83.1% |
| Taxes | 450/3 | €1,239 | €268 | -€970 | -78.3% |
| Remuneration and social security | 454/9 | €350 | - | -€350 | |
| Other amounts payable | 47/48 | €3,679 | €3,888 | +€209 | +5.7% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Non-recurring operating income | 76A | - | €72 | +€72 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,454 | - | -€1,454 | |
| Other operating charges | 640/8 | €958 | €5,882 | +€4,925 | +514% |
| Non-recurring operating charges | 66A | - | €7 | +€7 | |
| Gross operating margin | 9900 | €1,600 | €5,642 | +€4,042 | +253% |
| Operating profit (loss) | 9901 | -€811 | -€247 | +€564 | +69.6% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €439 | €271 | -€168 | -38.2% |
| Recurring financial charges | 65 | €439 | €271 | -€168 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,240 | -€518 | +€722 | +58.2% |
| Income taxes | 67/77 | €58 | - | -€58 | |
| Profit (loss) for the period | 9904 | -€1,299 | -€518 | +€780 | +60.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,299 | -€518 | +€780 | +60.1% |
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 26 October 2026 via checked.be.