APB Construct: 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.
APB Construct
Largest movements
- Receivables within one year +€116,951
up €116,951 (+27.6%), from €424,130 to €541,081
of which Trade receivables: +€83,651
- Tangible fixed assets -€31,537
down €31,537 (-29.1%), from €108,233 to €76,696
of which Plant, machinery and equipment: -€21,578
- Cash -€27,984
down €27,984 (-59.8%), from €46,815 to €18,831
mainly Receivables within one year (-€116,951) and Debts after one year (-€26,713)
- Stocks and contracts +€9,657
up €9,657 (+37.4%), from €25,853 to €35,510
- Trade debts +€77,667
up €77,667 (+28.0%), from €277,162 to €354,829
- Reserves +€38,424
up €38,424 (+58.2%), from €66,063 to €104,486
- Debts after one year -€26,713
down €26,713 (-22.6%), from €118,010 to €91,297
of which Financial debts: -€26,713
- Current portion of long-term debt -€24,175
down €24,175 (-24.0%), from €100,889 to €76,713
- Gross operating margin +€197,038
up €197,038 (+202.4%), from €97,364 to €294,402
- Staff costs +€117,606
up €117,606 (+144.5%), from €81,392 to €198,997
- Financial charges +€11,085
up €11,085 (+61.2%), from €18,107 to €29,192
- Financial income +€8,152
up €8,152 (+558.7%), from €1,459 to €9,611
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 | €610,744 | €681,211 | +€70,467 | +11.5% |
| Fixed assets | 21/28 | €108,580 | €76,696 | -€31,884 | -29.4% |
| Intangible fixed assets | 21 | €347 | - | -€347 | |
| Tangible fixed assets | 22/27 | €108,233 | €76,696 | -€31,537 | -29.1% |
| Plant, machinery and equipment | 23 | €80,731 | €59,152 | -€21,578 | -26.7% |
| Furniture and vehicles | 24 | €27,502 | €17,544 | -€9,959 | -36.2% |
| Current assets | 29/58 | €502,165 | €604,515 | +€102,350 | +20.4% |
| Stocks and contracts in progress | 3 | €25,853 | €35,510 | +€9,657 | +37.4% |
| Stocks | 30/36 | €25,853 | €35,510 | +€9,657 | +37.4% |
| Amounts receivable within one year | 40/41 | €424,130 | €541,081 | +€116,951 | +27.6% |
| Trade receivables | 40 | €272,468 | €356,120 | +€83,651 | +30.7% |
| Other amounts receivable | 41 | €151,661 | €184,961 | +€33,300 | +22.0% |
| Cash at bank and in hand | 54/58 | €46,815 | €18,831 | -€27,984 | -59.8% |
| Deferred charges and accrued income | 490/1 | €5,367 | €9,094 | +€3,726 | +69.4% |
| Total equity and liabilities | 10/49 | €610,744 | €681,211 | +€70,467 | +11.5% |
| Equity | 10/15 | €67,063 | €105,486 | +€38,424 | +57.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €66,063 | €104,486 | +€38,424 | +58.2% |
| Distributable reserves | 133 | €66,063 | €104,486 | +€38,424 | +58.2% |
| Amounts payable | 17/49 | €543,682 | €575,725 | +€32,043 | +5.9% |
| Amounts payable after more than one year | 17 | €118,010 | €91,297 | -€26,713 | -22.6% |
| Financial debts | 170/4 | €68,010 | €41,297 | -€26,713 | -39.3% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €425,672 | €484,428 | +€58,756 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €100,889 | €76,713 | -€24,175 | -24.0% |
| Trade debts | 44 | €277,162 | €354,829 | +€77,667 | +28.0% |
| Suppliers | 440/4 | €277,162 | €354,829 | +€77,667 | +28.0% |
| Taxes, remuneration and social security | 45 | €27,621 | €32,886 | +€5,265 | +19.1% |
| Taxes | 450/3 | €19,167 | €13,146 | -€6,021 | -31.4% |
| Remuneration and social security | 454/9 | €8,454 | €19,740 | +€11,286 | +133.5% |
| Other amounts payable | 47/48 | €20,000 | €20,000 | = | 0.0% |
| Non-recurring operating income | 76A | €422 | €717 | +€295 | +69.9% |
| Remuneration, social security and pensions | 62 | €81,392 | €198,997 | +€117,606 | +144.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,971 | €32,608 | +€637 | +2.0% |
| Other operating charges | 640/8 | €4,988 | €3,276 | -€1,713 | -34.3% |
| Non-recurring operating charges | 66A | - | €347 | +€347 | |
| Gross operating margin | 9900 | €97,364 | €294,402 | +€197,038 | +202.4% |
| Operating profit (loss) | 9901 | -€20,987 | €59,174 | +€80,161 | |
| Financial income | 75/76B | €1,459 | €9,611 | +€8,152 | +558.7% |
| Recurring financial income | 75 | €1,459 | €9,611 | +€8,152 | +558.7% |
| Financial charges | 65/66B | €18,107 | €29,192 | +€11,085 | +61.2% |
| Recurring financial charges | 65 | €18,107 | €29,192 | +€11,085 | +61.2% |
| Profit (loss) for the period before taxes | 9903 | -€37,634 | €39,593 | +€77,228 | |
| Income taxes | 67/77 | €3 | €1,170 | +€1,166 | +34404.7% |
| Profit (loss) for the period | 9904 | -€37,638 | €38,424 | +€76,061 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,638 | €38,424 | +€76,061 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.