AP-LIGHTING: 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-LIGHTING
Largest movements
- Receivables within one year +€60,060
up €60,060 (+73.5%), from €81,700 to €141,760
of which Trade receivables: +€53,019
- Cash +€18,505
up €18,505 (+13.3%), from €138,721 to €157,226
mainly Net result for the year (+€77,006) and Current portion of long-term debt (+€7,348)
- Tangible fixed assets +€8,363
up €8,363 (+270.2%), from €3,095 to €11,458
of which Furniture and vehicles: +€8,588
- Reserves +€72,727
up €72,727 (+42.3%), from €171,839 to €244,566
of which Non-distributable reserves: +€72,727
- Current portion of long-term debt +€7,348
new in 2025: €7,348
- Profit (loss) carried forward +€4,279
up €4,279 (+51.7%), from €8,268 to €12,546
- Gross operating margin +€46,892
up €46,892 (+70.8%), from €66,190 to €113,082
- Taxes +€11,984
up €11,984 (+66.6%), from €18,004 to €29,987
- Depreciation +€3,392
up €3,392 (+249.4%), from €1,360 to €4,752
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 | €224,315 | €311,857 | +€87,542 | +39.0% |
| Fixed assets | 21/28 | €3,095 | €11,458 | +€8,363 | +270.2% |
| Tangible fixed assets | 22/27 | €3,095 | €11,458 | +€8,363 | +270.2% |
| Plant, machinery and equipment | 23 | €1,701 | €1,476 | -€225 | -13.2% |
| Furniture and vehicles | 24 | €1,393 | €9,981 | +€8,588 | +616.4% |
| Current assets | 29/58 | €221,221 | €300,400 | +€79,179 | +35.8% |
| Amounts receivable within one year | 40/41 | €81,700 | €141,760 | +€60,060 | +73.5% |
| Trade receivables | 40 | €70,492 | €123,512 | +€53,019 | +75.2% |
| Other amounts receivable | 41 | €11,208 | €18,248 | +€7,040 | +62.8% |
| Cash at bank and in hand | 54/58 | €138,721 | €157,226 | +€18,505 | +13.3% |
| Deferred charges and accrued income | 490/1 | €799 | €1,414 | +€614 | +76.8% |
| Total equity and liabilities | 10/49 | €224,315 | €311,857 | +€87,542 | +39.0% |
| Equity | 10/15 | €195,106 | €272,112 | +€77,006 | +39.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €171,839 | €244,566 | +€72,727 | +42.3% |
| Non-distributable reserves | 130/1 | €171,818 | €244,545 | +€72,727 | +42.3% |
| Other | 1319 | €171,818 | €244,545 | +€72,727 | +42.3% |
| Distributable reserves | 133 | €21 | €21 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,268 | €12,546 | +€4,279 | +51.7% |
| Amounts payable | 17/49 | €29,209 | €39,745 | +€10,536 | +36.1% |
| Amounts payable after more than one year | 17 | - | €631 | +€631 | |
| Financial debts | 170/4 | - | €631 | +€631 | |
| Amounts payable within one year | 42/48 | €29,209 | €39,114 | +€9,905 | +33.9% |
| Current portion of amounts payable after more than one year | 42 | - | €7,348 | +€7,348 | |
| Trade debts | 44 | €23,763 | €24,242 | +€480 | +2.0% |
| Suppliers | 440/4 | €23,763 | €24,242 | +€480 | +2.0% |
| Taxes, remuneration and social security | 45 | €5,446 | €7,273 | +€1,827 | +33.5% |
| Taxes | 450/3 | €5,446 | €7,273 | +€1,827 | +33.5% |
| Other amounts payable | 47/48 | - | €251 | +€251 | |
| Remuneration, social security and pensions | 62 | €411 | - | -€411 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,360 | €4,752 | +€3,392 | +249.4% |
| Other operating charges | 640/8 | €541 | €729 | +€188 | +34.7% |
| Gross operating margin | 9900 | €66,190 | €113,082 | +€46,892 | +70.8% |
| Operating profit (loss) | 9901 | €63,878 | €107,601 | +€43,723 | +68.4% |
| Financial income | 75/76B | €1 | €138 | +€137 | +27430.0% |
| Recurring financial income | 75 | €1 | €138 | +€137 | +27430.0% |
| Financial charges | 65/66B | €136 | €745 | +€609 | +446.7% |
| Recurring financial charges | 65 | €136 | €745 | +€609 | +446.7% |
| Profit (loss) for the period before taxes | 9903 | €63,742 | €106,993 | +€43,251 | +67.9% |
| Income taxes | 67/77 | €18,004 | €29,987 | +€11,984 | +66.6% |
| Profit (loss) for the period | 9904 | €45,738 | €77,006 | +€31,268 | +68.4% |
| Profit (loss) for the period to be appropriated | 9905 | €45,738 | €77,006 | +€31,268 | +68.4% |
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 7 October 2026 via checked.be.