APALA GROUP: 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.
APALA GROUP
Largest movements
- Financial fixed assets -€4.7m
down €4.7m (-41.0%), from €11.4m to €6.7m
- Receivables within one year +€368,464
up €368,464 (+92.4%), from €398,924 to €767,389
of which Other amounts receivable: +€368,339
- Cash +€168,758
up €168,758 (+745.2%), from €22,646 to €191,404
mainly Investment in fixed assets (net) (+€4.7m) and Current investments (+€103,023)
- Profit (loss) carried forward -€4.2m
down €4.2m (-44.6%), from €9.5m to €5.2m
- Financial income -€26,072
down €26,072 (-19.6%), from €133,263 to €107,192
- Gross operating margin -€19,540
down €19,540, from €11,326 to -€8,214
- Depreciation -€12,803
down €12,803 (-44.0%), from €29,108 to €16,304
- Other operating charges -€7,411
down €7,411 (-66.1%), from €11,215 to €3,804
- Taxes +€5,460
up €5,460 (+32.6%), from €16,739 to €22,199
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 | €15,593,091 | €11,377,344 | -€4.2m | -27.0% |
| Fixed assets | 21/28 | €11,570,153 | €6,859,653 | -€4.7m | -40.7% |
| Tangible fixed assets | 22/27 | €216,345 | €164,390 | -€51,955 | -24.0% |
| Furniture and vehicles | 24 | €216,345 | €164,390 | -€51,955 | -24.0% |
| Financial fixed assets | 28 | €11,353,808 | €6,695,263 | -€4.7m | -41.0% |
| Current assets | 29/58 | €4,022,938 | €4,517,691 | +€494,753 | +12.3% |
| Amounts receivable after more than one year | 29 | €1,617,833 | €1,678,126 | +€60,293 | +3.7% |
| Other amounts receivable | 291 | €1,617,833 | €1,678,126 | +€60,293 | +3.7% |
| Amounts receivable within one year | 40/41 | €398,924 | €767,389 | +€368,464 | +92.4% |
| Trade receivables | 40 | €175 | €300 | +€125 | +71.8% |
| Other amounts receivable | 41 | €398,750 | €767,089 | +€368,339 | +92.4% |
| Current investments | 50/53 | €1,981,868 | €1,878,844 | -€103,023 | -5.2% |
| Cash at bank and in hand | 54/58 | €22,646 | €191,404 | +€168,758 | +745.2% |
| Deferred charges and accrued income | 490/1 | €1,667 | €1,928 | +€260 | +15.6% |
| Total equity and liabilities | 10/49 | €15,593,091 | €11,377,344 | -€4.2m | -27.0% |
| Equity | 10/15 | €15,486,119 | €11,266,540 | -€4.2m | -27.2% |
| Contributions | 10/11 | €6,000,000 | €6,000,000 | = | 0.0% |
| Reserves | 13 | €18,878 | €18,878 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,878 | €18,878 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,070 | €18,070 | = | 0.0% |
| Own shares acquired | 1312 | €808 | €808 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,467,242 | €5,247,662 | -€4.2m | -44.6% |
| Amounts payable | 17/49 | €106,972 | €110,804 | +€3,833 | +3.6% |
| Amounts payable after more than one year | 17 | €75,161 | €55,689 | -€19,472 | -25.9% |
| Financial debts | 170/4 | €75,161 | €55,689 | -€19,472 | -25.9% |
| Amounts payable within one year | 42/48 | €31,811 | €55,116 | +€23,305 | +73.3% |
| Current portion of amounts payable after more than one year | 42 | €18,747 | €19,472 | +€725 | +3.9% |
| Trade debts | 44 | €1,258 | €13,444 | +€12,187 | +969.0% |
| Suppliers | 440/4 | €1,258 | €13,444 | +€12,187 | +969.0% |
| Taxes, remuneration and social security | 45 | €11,806 | €22,199 | +€10,393 | +88.0% |
| Taxes | 450/3 | €11,806 | €22,199 | +€10,393 | +88.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,108 | €16,304 | -€12,803 | -44.0% |
| Other operating charges | 640/8 | €11,215 | €3,804 | -€7,411 | -66.1% |
| Non-recurring operating charges | 66A | - | €4,272,488 | +€4.3m | |
| Gross operating margin | 9900 | €11,326 | -€8,214 | -€19,540 | |
| Operating profit (loss) | 9901 | -€28,997 | -€4,300,810 | -€4.3m | -14732.0% |
| Financial income | 75/76B | €133,263 | €107,192 | -€26,072 | -19.6% |
| Recurring financial income | 75 | €133,263 | €107,192 | -€26,072 | -19.6% |
| Financial charges | 65/66B | €1,668 | €3,762 | +€2,094 | +125.6% |
| Recurring financial charges | 65 | €1,668 | €3,762 | +€2,094 | +125.6% |
| Profit (loss) for the period before taxes | 9903 | €102,599 | -€4,197,380 | -€4.3m | |
| Income taxes | 67/77 | €16,739 | €22,199 | +€5,460 | +32.6% |
| Profit (loss) for the period | 9904 | €85,860 | -€4,219,580 | -€4.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €85,860 | -€4,219,580 | -€4.3m |
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 1 October 2026 via checked.be.