AP-PRODUCTIONS: 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-PRODUCTIONS
Largest movements
- Cash +€230,769
up €230,769 (+387%), from €59,691 to €290,460
mainly Net result for the year (+€244,070) and Depreciation (+€48,353)
- Tangible fixed assets -€35,037
down €35,037 (-3.0%), from €1.2m to €1.2m
of which Land and buildings: -€39,542
- Reserves +€190,000
new in 2025: €190,000
- Debts after one year -€62,993
down €62,993 (-6.0%), from €1.1m to €991,367
- Profit (loss) carried forward +€54,070
up €54,070, from -€53,249 to €821
- Trade debts -€43,913
down €43,913 (-83.3%), from €52,705 to €8,792
- Other debts +€30,676
up €30,676 (+3.5%), from €888,129 to €918,806
- Gross operating margin +€330,949
up €330,949 (+295%), from €112,083 to €443,032
- Financial income -€148,729
down €148,729 (-100.0%), from €148,731 to €2
- Taxes +€53,008
up €53,008 (+14,772%), from €359 to €53,367
- Financial charges +€15,490
up €15,490 (+20.6%), from €75,239 to €90,730
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 | €2,326,861 | €2,525,704 | +€198,843 | +8.5% |
| Fixed assets | 21/28 | €2,258,302 | €2,223,265 | -€35,037 | -1.6% |
| Tangible fixed assets | 22/27 | €1,185,238 | €1,150,201 | -€35,037 | -3.0% |
| Land and buildings | 22 | €1,148,629 | €1,109,087 | -€39,542 | -3.4% |
| Plant, machinery and equipment | 23 | €5,042 | €3,779 | -€1,263 | -25.1% |
| Furniture and vehicles | 24 | €31,568 | €23,435 | -€8,132 | -25.8% |
| Assets under construction and advance payments | 27 | €0 | €13,900 | +€13,900 | |
| Financial fixed assets | 28 | €1,073,064 | €1,073,064 | = | 0.0% |
| Current assets | 29/58 | €68,558 | €302,438 | +€233,880 | +341% |
| Amounts receivable within one year | 40/41 | €2,647 | €5,377 | +€2,730 | +103% |
| Trade receivables | 40 | €2,647 | €5,377 | +€2,730 | +103% |
| Cash at bank and in hand | 54/58 | €59,691 | €290,460 | +€230,769 | +387% |
| Deferred charges and accrued income | 490/1 | €6,221 | €6,602 | +€381 | +6.1% |
| Total equity and liabilities | 10/49 | €2,326,861 | €2,525,704 | +€198,843 | +8.5% |
| Equity | 10/15 | €240,359 | €484,429 | +€244,070 | +102% |
| Contributions | 10/11 | €293,608 | €293,608 | = | 0.0% |
| Reserves | 13 | - | €190,000 | +€190,000 | |
| Distributable reserves | 133 | - | €190,000 | +€190,000 | |
| Profit (loss) carried forward | 14 | -€53,249 | €821 | +€54,070 | |
| Amounts payable | 17/49 | €2,086,502 | €2,041,275 | -€45,227 | -2.2% |
| Amounts payable after more than one year | 17 | €1,054,360 | €991,367 | -€62,993 | -6.0% |
| Financial debts | 170/4 | €1,054,360 | €991,367 | -€62,993 | -6.0% |
| Amounts payable within one year | 42/48 | €1,021,919 | €1,039,807 | +€17,887 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €66,587 | €68,116 | +€1,529 | +2.3% |
| Trade debts | 44 | €52,705 | €8,792 | -€43,913 | -83.3% |
| Suppliers | 440/4 | €52,705 | €8,792 | -€43,913 | -83.3% |
| Taxes, remuneration and social security | 45 | €14,498 | €44,094 | +€29,595 | +204% |
| Taxes | 450/3 | €12,097 | €41,675 | +€29,579 | +245% |
| Remuneration and social security | 454/9 | €2,402 | €2,418 | +€17 | +0.7% |
| Other amounts payable | 47/48 | €888,129 | €918,806 | +€30,676 | +3.5% |
| Accrued charges and deferred income | 492/3 | €10,222 | €10,101 | -€121 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,078 | €48,353 | -€2,725 | -5.3% |
| Other operating charges | 640/8 | €4,991 | €6,514 | +€1,524 | +30.5% |
| Gross operating margin | 9900 | €112,083 | €443,032 | +€330,949 | +295% |
| Operating profit (loss) | 9901 | €56,014 | €388,165 | +€332,151 | +593% |
| Financial income | 75/76B | €148,731 | €2 | -€148,729 | -100.0% |
| Recurring financial income | 75 | €148,731 | €2 | -€148,729 | -100.0% |
| Financial charges | 65/66B | €75,239 | €90,730 | +€15,490 | +20.6% |
| Recurring financial charges | 65 | €75,239 | €90,730 | +€15,490 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €129,506 | €297,437 | +€167,931 | +130% |
| Income taxes | 67/77 | €359 | €53,367 | +€53,008 | +14,772% |
| Profit (loss) for the period | 9904 | €129,147 | €244,070 | +€114,923 | +89.0% |
| Profit (loss) for the period to be appropriated | 9905 | €129,147 | €244,070 | +€114,923 | +89.0% |
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 24 October 2026 via checked.be.