AP-MODELING: 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-MODELING
Largest movements
- Cash +€35,441
up €35,441 (+19.9%), from €177,760 to €213,201
mainly Net result for the year (+€68,620) and Other debts (+€17,859)
- Tangible fixed assets +€18,172
up €18,172 (+5.8%), from €311,509 to €329,681
- Receivables within one year -€8,371
down €8,371 (-22.0%), from €38,066 to €29,695
- Reserves +€35,829
up €35,829 (+10.8%), from €330,579 to €366,408
- Other debts +€17,859
up €17,859 (+65.4%), from €27,311 to €45,170
- Tax, wage and social debts +€14,679
up €14,679 (+199%), from €7,366 to €22,045
- Debts after one year -€13,000
down €13,000 (-25.0%), from €52,000 to €39,000
- Trade debts -€8,105
down €8,105 (-92.2%), from €8,794 to €689
- Gross operating margin +€16,531
up €16,531 (+17.2%), from €96,262 to €112,794
- Taxes +€4,660
up €4,660 (+21.1%), from €22,116 to €26,775
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 | €528,788 | €574,220 | +€45,432 | +8.6% |
| Fixed assets | 21/28 | €311,509 | €329,681 | +€18,172 | +5.8% |
| Tangible fixed assets | 22/27 | €311,509 | €329,681 | +€18,172 | +5.8% |
| Land and buildings | 22 | €311,509 | €329,681 | +€18,172 | +5.8% |
| Current assets | 29/58 | €217,279 | €244,539 | +€27,260 | +12.5% |
| Amounts receivable within one year | 40/41 | €38,066 | €29,695 | -€8,371 | -22.0% |
| Trade receivables | 40 | €38,066 | €29,695 | -€8,371 | -22.0% |
| Cash at bank and in hand | 54/58 | €177,760 | €213,201 | +€35,441 | +19.9% |
| Deferred charges and accrued income | 490/1 | €1,453 | €1,644 | +€190 | +13.1% |
| Total equity and liabilities | 10/49 | €528,788 | €574,220 | +€45,432 | +8.6% |
| Equity | 10/15 | €417,393 | €453,222 | +€35,829 | +8.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €330,579 | €366,408 | +€35,829 | +10.8% |
| Distributable reserves | 133 | €330,579 | €366,408 | +€35,829 | +10.8% |
| Profit (loss) carried forward | 14 | €74,414 | €74,414 | = | 0.0% |
| Amounts payable | 17/49 | €111,395 | €120,998 | +€9,603 | +8.6% |
| Amounts payable after more than one year | 17 | €52,000 | €39,000 | -€13,000 | -25.0% |
| Financial debts | 170/4 | €52,000 | €39,000 | -€13,000 | -25.0% |
| Amounts payable within one year | 42/48 | €59,387 | €80,904 | +€21,517 | +36.2% |
| Current portion of amounts payable after more than one year | 42 | €15,917 | €13,000 | -€2,917 | -18.3% |
| Trade debts | 44 | €8,794 | €689 | -€8,105 | -92.2% |
| Suppliers | 440/4 | €8,794 | €689 | -€8,105 | -92.2% |
| Taxes, remuneration and social security | 45 | €7,366 | €22,045 | +€14,679 | +199% |
| Taxes | 450/3 | €7,366 | €22,045 | +€14,679 | +199% |
| Other amounts payable | 47/48 | €27,311 | €45,170 | +€17,859 | +65.4% |
| Accrued charges and deferred income | 492/3 | €7 | €1,094 | +€1,087 | +15,051% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,279 | €14,875 | +€596 | +4.2% |
| Other operating charges | 640/8 | €1,821 | €1,695 | -€126 | -6.9% |
| Non-recurring operating charges | 66A | - | €76 | +€76 | |
| Gross operating margin | 9900 | €96,262 | €112,794 | +€16,531 | +17.2% |
| Operating profit (loss) | 9901 | €80,162 | €96,147 | +€15,985 | +19.9% |
| Financial charges | 65/66B | €1,170 | €752 | -€418 | -35.7% |
| Recurring financial charges | 65 | €1,170 | €752 | -€418 | -35.7% |
| Profit (loss) for the period before taxes | 9903 | €78,992 | €95,395 | +€16,403 | +20.8% |
| Income taxes | 67/77 | €22,116 | €26,775 | +€4,660 | +21.1% |
| Profit (loss) for the period | 9904 | €56,876 | €68,620 | +€11,743 | +20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €56,876 | €68,620 | +€11,743 | +20.6% |
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 23 October 2026 via checked.be.