AP TECHNICS: 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 TECHNICS
Largest movements
- Current investments +€176,999
new in 2025: €176,999
- Cash -€145,098
down €145,098 (-38.4%), from €378,150 to €233,053
mainly Contributions, distributions and other (-€250,000) and Current investments (-€176,999)
- Tangible fixed assets -€12,797
down €12,797 (-9.2%), from €139,493 to €126,696
of which Land and buildings: -€9,911
- Reserves -€209,823
down €209,823 (-45.7%), from €458,960 to €249,137
of which Distributable reserves: -€209,823
- Other debts +€187,239
up €187,239 (+216%), from €86,854 to €274,093
- Tax, wage and social debts +€40,033
up €40,033 (+3,371%), from €1,188 to €41,220
- Debts after one year -€10,111
down €10,111 (-23.2%), from €43,606 to €33,496
- Gross operating margin -€126,255
down €126,255 (-64.1%), from €197,080 to €70,824
- Taxes -€26,606
down €26,606 (-63.8%), from €41,729 to €15,123
- Financial income +€2,166
new in 2025: €2,166
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 | €620,614 | €627,957 | +€7,342 | +1.2% |
| Fixed assets | 21/28 | €139,493 | €126,696 | -€12,797 | -9.2% |
| Tangible fixed assets | 22/27 | €139,493 | €126,696 | -€12,797 | -9.2% |
| Land and buildings | 22 | €132,028 | €122,117 | -€9,911 | -7.5% |
| Plant, machinery and equipment | 23 | €395 | €99 | -€296 | -74.9% |
| Furniture and vehicles | 24 | €7,069 | €4,480 | -€2,590 | -36.6% |
| Current assets | 29/58 | €481,121 | €501,260 | +€20,139 | +4.2% |
| Stocks and contracts in progress | 3 | €85,341 | €79,329 | -€6,012 | -7.0% |
| Stocks | 30/36 | €85,341 | €79,329 | -€6,012 | -7.0% |
| Amounts receivable within one year | 40/41 | €14,276 | €10,498 | -€3,778 | -26.5% |
| Trade receivables | 40 | €12,500 | €8,720 | -€3,780 | -30.2% |
| Other amounts receivable | 41 | €1,776 | €1,778 | +€2 | +0.1% |
| Current investments | 50/53 | - | €176,999 | +€176,999 | |
| Cash at bank and in hand | 54/58 | €378,150 | €233,053 | -€145,098 | -38.4% |
| Deferred charges and accrued income | 490/1 | €3,354 | €1,382 | -€1,972 | -58.8% |
| Total equity and liabilities | 10/49 | €620,614 | €627,957 | +€7,342 | +1.2% |
| Equity | 10/15 | €477,510 | €267,687 | -€209,823 | -43.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €458,960 | €249,137 | -€209,823 | -45.7% |
| Tax-exempt reserves | 132 | €14,500 | €14,500 | = | 0.0% |
| Distributable reserves | 133 | €444,460 | €234,637 | -€209,823 | -47.2% |
| Amounts payable | 17/49 | €143,104 | €360,270 | +€217,166 | +152% |
| Amounts payable after more than one year | 17 | €43,606 | €33,496 | -€10,111 | -23.2% |
| Financial debts | 170/4 | €43,606 | €33,496 | -€10,111 | -23.2% |
| Amounts payable within one year | 42/48 | €98,831 | €326,085 | +€227,253 | +230% |
| Current portion of amounts payable after more than one year | 42 | €10,020 | €10,111 | +€91 | +0.9% |
| Trade debts | 44 | €770 | €661 | -€109 | -14.2% |
| Suppliers | 440/4 | €770 | €661 | -€109 | -14.2% |
| Taxes, remuneration and social security | 45 | €1,188 | €41,220 | +€40,033 | +3,371% |
| Taxes | 450/3 | €1,188 | €41,220 | +€40,033 | +3,371% |
| Other amounts payable | 47/48 | €86,854 | €274,093 | +€187,239 | +216% |
| Accrued charges and deferred income | 492/3 | €667 | €690 | +€23 | +3.4% |
| Non-recurring operating income | 76A | - | €2,854 | +€2,854 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,058 | €12,797 | -€261 | -2.0% |
| Other operating charges | 640/8 | €1,862 | €2,764 | +€902 | +48.5% |
| Gross operating margin | 9900 | €197,080 | €70,824 | -€126,255 | -64.1% |
| Operating profit (loss) | 9901 | €182,160 | €55,264 | -€126,896 | -69.7% |
| Financial income | 75/76B | - | €2,166 | +€2,166 | |
| Recurring financial income | 75 | - | €2,166 | +€2,166 | |
| Financial charges | 65/66B | €918 | €2,130 | +€1,212 | +132% |
| Recurring financial charges | 65 | €918 | €2,130 | +€1,212 | +132% |
| Profit (loss) for the period before taxes | 9903 | €181,242 | €55,300 | -€125,942 | -69.5% |
| Income taxes | 67/77 | €41,729 | €15,123 | -€26,606 | -63.8% |
| Profit (loss) for the period | 9904 | €139,513 | €40,177 | -€99,336 | -71.2% |
| Profit (loss) for the period to be appropriated | 9905 | €139,513 | €40,177 | -€99,336 | -71.2% |
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 14 October 2026 via checked.be.