APC: 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.
APC
Largest movements
- Tangible fixed assets +€37,303
up €37,303 (+730%), from €5,112 to €42,415
of which Leasing and similar rights: +€39,978
- Receivables within one year -€6,916
down €6,916 (-86.9%), from €7,963 to €1,046
of which Trade receivables: -€6,910
- Cash -€5,413
down €5,413 (-100%), from €5,413 to €0
mainly Investment in fixed assets (net) (-€44,843) and Net result for the year (-€11,638)
- Deferred charges and accrued income +€1,108
up €1,108 (+1,889%), from €59 to €1,166
- Debts after one year +€27,115
new in 2025: €27,115
- Profit (loss) carried forward -€11,638
down €11,638, from €158 to -€11,481
- Current portion of long-term debt +€6,265
new in 2025: €6,265
- Short-term financial debts +€4,765
new in 2025: €4,765
- Tax, wage and social debts -€2,831
down €2,831 (-97.9%), from €2,892 to €62
- Depreciation +€4,865
up €4,865 (+182%), from €2,675 to €7,540
- Gross operating margin -€4,838
down €4,838, from €3,425 to -€1,413
- Other operating charges +€1,629
up €1,629 (+952%), from €171 to €1,801
- Financial charges +€705
up €705 (+597%), from €118 to €823
- Taxes -€241
down €241 (-79.7%), from €303 to €62
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 | €18,547 | €44,628 | +€26,081 | +141% |
| Fixed assets | 21/28 | €5,112 | €42,415 | +€37,303 | +730% |
| Tangible fixed assets | 22/27 | €5,112 | €42,415 | +€37,303 | +730% |
| Furniture and vehicles | 24 | €5,112 | €2,437 | -€2,675 | -52.3% |
| Leasing and similar rights | 25 | - | €39,978 | +€39,978 | |
| Current assets | 29/58 | €13,435 | €2,213 | -€11,222 | -83.5% |
| Amounts receivable within one year | 40/41 | €7,963 | €1,046 | -€6,916 | -86.9% |
| Trade receivables | 40 | €7,015 | €105 | -€6,910 | -98.5% |
| Other amounts receivable | 41 | €947 | €941 | -€6 | -0.6% |
| Cash at bank and in hand | 54/58 | €5,413 | €0 | -€5,413 | -100% |
| Deferred charges and accrued income | 490/1 | €59 | €1,166 | +€1,108 | +1,889% |
| Total equity and liabilities | 10/49 | €18,547 | €44,628 | +€26,081 | +141% |
| Equity | 10/15 | €9,342 | -€2,296 | -€11,638 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €4,185 | €4,185 | = | 0.0% |
| Distributable reserves | 133 | €4,185 | €4,185 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158 | -€11,481 | -€11,638 | |
| Amounts payable | 17/49 | €9,204 | €46,924 | +€37,719 | +410% |
| Amounts payable after more than one year | 17 | - | €27,115 | +€27,115 | |
| Financial debts | 170/4 | - | €27,115 | +€27,115 | |
| Amounts payable within one year | 42/48 | €9,204 | €19,809 | +€10,604 | +115% |
| Current portion of amounts payable after more than one year | 42 | - | €6,265 | +€6,265 | |
| Financial debts | 43 | - | €4,765 | +€4,765 | |
| Credit institutions | 430/8 | - | €4,765 | +€4,765 | |
| Trade debts | 44 | €3,441 | €3,804 | +€362 | +10.5% |
| Suppliers | 440/4 | €3,441 | €3,804 | +€362 | +10.5% |
| Taxes, remuneration and social security | 45 | €2,892 | €62 | -€2,831 | -97.9% |
| Taxes | 450/3 | €2,892 | €62 | -€2,831 | -97.9% |
| Other amounts payable | 47/48 | €2,871 | €4,914 | +€2,043 | +71.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,675 | €7,540 | +€4,865 | +182% |
| Other operating charges | 640/8 | €171 | €1,801 | +€1,629 | +952% |
| Gross operating margin | 9900 | €3,425 | -€1,413 | -€4,838 | |
| Operating profit (loss) | 9901 | €578 | -€10,754 | -€11,332 | |
| Financial charges | 65/66B | €118 | €823 | +€705 | +597% |
| Recurring financial charges | 65 | €118 | €823 | +€705 | +597% |
| Profit (loss) for the period before taxes | 9903 | €460 | -€11,577 | -€12,037 | |
| Income taxes | 67/77 | €303 | €62 | -€241 | -79.7% |
| Profit (loss) for the period | 9904 | €158 | -€11,638 | -€11,796 | |
| Profit (loss) for the period to be appropriated | 9905 | €158 | -€11,638 | -€11,796 |
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.