AP OFFICE: 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 OFFICE
Largest movements
- Receivables within one year +€133,815
up €133,815 (+342%), from €39,155 to €172,970
of which Trade receivables: +€106,288
- Cash -€74,795
down €74,795 (-18.7%), from €399,794 to €324,999
mainly Receivables within one year (-€133,815) and Contributions, distributions and other (-€75,000)
- Tangible fixed assets -€33,256
down €33,256 (-6.4%), from €516,926 to €483,670
- Current investments -€13,000
down €13,000 (-32.7%), from €39,709 to €26,709
- Other debts +€109,622
up €109,622 (+138%), from €79,547 to €189,170
- Profit (loss) carried forward -€47,051
down €47,051 (-8.8%), from €534,737 to €487,686
- Debts after one year -€25,600
down €25,600 (-7.6%), from €336,367 to €310,767
- Tax, wage and social debts -€25,241
down €25,241 (-54.3%), from €46,500 to €21,259
of which Taxes: -€34,934
- Gross operating margin +€13,520
up €13,520 (+20.4%), from €66,248 to €79,768
- Financial income -€7,569
down €7,569 (-89.3%), from €8,475 to €905
- Taxes -€3,173
down €3,173 (-30.2%), from €10,512 to €7,339
- Depreciation -€1,983
down €1,983 (-5.5%), from €36,079 to €34,096
- Staff costs +€958
new in 2025: €958
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 | €1,045,424 | €1,057,349 | +€11,925 | +1.1% |
| Fixed assets | 21/28 | €518,892 | €484,796 | -€34,096 | -6.6% |
| Intangible fixed assets | 21 | €1,680 | €840 | -€840 | -50.0% |
| Tangible fixed assets | 22/27 | €516,926 | €483,670 | -€33,256 | -6.4% |
| Land and buildings | 22 | €437,302 | €421,624 | -€15,678 | -3.6% |
| Furniture and vehicles | 24 | €26,043 | €17,119 | -€8,924 | -34.3% |
| Other tangible fixed assets | 26 | €53,581 | €44,927 | -€8,654 | -16.2% |
| Financial fixed assets | 28 | €286 | €286 | = | 0.0% |
| Current assets | 29/58 | €526,532 | €572,552 | +€46,020 | +8.7% |
| Stocks and contracts in progress | 3 | €47,874 | €47,874 | = | 0.0% |
| Stocks | 30/36 | €47,874 | €47,874 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,155 | €172,970 | +€133,815 | +342% |
| Trade receivables | 40 | €18,828 | €125,116 | +€106,288 | +565% |
| Other amounts receivable | 41 | €20,327 | €47,854 | +€27,527 | +135% |
| Current investments | 50/53 | €39,709 | €26,709 | -€13,000 | -32.7% |
| Cash at bank and in hand | 54/58 | €399,794 | €324,999 | -€74,795 | -18.7% |
| Total equity and liabilities | 10/49 | €1,045,424 | €1,057,349 | +€11,925 | +1.1% |
| Equity | 10/15 | €553,337 | €506,286 | -€47,051 | -8.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Profit (loss) carried forward | 14 | €534,737 | €487,686 | -€47,051 | -8.8% |
| Amounts payable | 17/49 | €492,087 | €551,063 | +€58,975 | +12.0% |
| Amounts payable after more than one year | 17 | €336,367 | €310,767 | -€25,600 | -7.6% |
| Financial debts | 170/4 | €336,367 | €310,767 | -€25,600 | -7.6% |
| Amounts payable within one year | 42/48 | €151,520 | €240,295 | +€88,775 | +58.6% |
| Current portion of amounts payable after more than one year | 42 | €25,473 | €23,568 | -€1,906 | -7.5% |
| Trade debts | 44 | - | €6,300 | +€6,300 | |
| Suppliers | 440/4 | - | €6,300 | +€6,300 | |
| Taxes, remuneration and social security | 45 | €46,500 | €21,259 | -€25,241 | -54.3% |
| Taxes | 450/3 | €46,500 | €11,566 | -€34,934 | -75.1% |
| Remuneration and social security | 454/9 | - | €9,693 | +€9,693 | |
| Other amounts payable | 47/48 | €79,547 | €189,170 | +€109,622 | +138% |
| Accrued charges and deferred income | 492/3 | €4,200 | €0 | -€4,200 | -100% |
| Remuneration, social security and pensions | 62 | - | €958 | +€958 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,079 | €34,096 | -€1,983 | -5.5% |
| Other operating charges | 640/8 | €384 | - | -€384 | |
| Gross operating margin | 9900 | €66,248 | €79,768 | +€13,520 | +20.4% |
| Operating profit (loss) | 9901 | €29,785 | €44,714 | +€14,929 | +50.1% |
| Financial income | 75/76B | €8,475 | €905 | -€7,569 | -89.3% |
| Recurring financial income | 75 | €8,475 | €905 | -€7,569 | -89.3% |
| Financial charges | 65/66B | €9,511 | €10,331 | +€821 | +8.6% |
| Recurring financial charges | 65 | €9,511 | €10,331 | +€821 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €28,749 | €35,288 | +€6,539 | +22.7% |
| Income taxes | 67/77 | €10,512 | €7,339 | -€3,173 | -30.2% |
| Profit (loss) for the period | 9904 | €18,237 | €27,949 | +€9,713 | +53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,237 | €27,949 | +€9,713 | +53.3% |
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 20 October 2026 via checked.be.