APC 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.
APC CONSTRUCT
Largest movements
- Receivables after one year +€560,000
new in 2025: €560,000
- Receivables within one year -€181,638
down €181,638 (-46.0%), from €395,147 to €213,509
of which Trade receivables: -€119,061
- Cash -€89,603
down €89,603 (-90.2%), from €99,286 to €9,683
mainly Receivables after one year (-€560,000) and Trade debts (-€89,862)
- Tangible fixed assets -€19,016
down €19,016 (-98.1%), from €19,380 to €363
- Profit (loss) carried forward +€212,316
up €212,316 (+56.1%), from €378,430 to €590,746
- Trade debts -€89,862
down €89,862 (-73.7%), from €121,862 to €31,999
- Advances received +€77,970
new in 2025: €77,970
- Tax, wage and social debts +€66,314
up €66,314 (+456.5%), from €14,526 to €80,840
- Gross operating margin +€128,588
up €128,588 (+68.5%), from €187,774 to €316,362
- Taxes +€51,790
up €51,790 (+356.6%), from €14,525 to €66,315
- Depreciation -€20,346
down €20,346 (-57.3%), from €35,531 to €15,186
- Other operating charges +€7,918
up €7,918 (+57.9%), from €13,676 to €21,593
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 | €516,818 | €783,555 | +€266,738 | +51.6% |
| Fixed assets | 21/28 | €19,380 | €363 | -€19,016 | -98.1% |
| Tangible fixed assets | 22/27 | €19,380 | €363 | -€19,016 | -98.1% |
| Furniture and vehicles | 24 | €19,380 | €363 | -€19,016 | -98.1% |
| Current assets | 29/58 | €497,438 | €783,192 | +€285,754 | +57.4% |
| Amounts receivable after more than one year | 29 | - | €560,000 | +€560,000 | |
| Trade receivables | 290 | - | €560,000 | +€560,000 | |
| Amounts receivable within one year | 40/41 | €395,147 | €213,509 | -€181,638 | -46.0% |
| Trade receivables | 40 | €186,089 | €67,028 | -€119,061 | -64.0% |
| Other amounts receivable | 41 | €209,058 | €146,481 | -€62,577 | -29.9% |
| Cash at bank and in hand | 54/58 | €99,286 | €9,683 | -€89,603 | -90.2% |
| Deferred charges and accrued income | 490/1 | €3,005 | - | -€3,005 | |
| Total equity and liabilities | 10/49 | €516,818 | €783,555 | +€266,738 | +51.6% |
| Equity | 10/15 | €380,430 | €592,746 | +€212,316 | +55.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Outside capital | 11 | €2,000 | - | -€2,000 | |
| Other | 1109/19 | €2,000 | - | -€2,000 | |
| Profit (loss) carried forward | 14 | €378,430 | €590,746 | +€212,316 | +56.1% |
| Amounts payable | 17/49 | €136,387 | €190,809 | +€54,422 | +39.9% |
| Amounts payable within one year | 42/48 | €136,387 | €190,809 | +€54,422 | +39.9% |
| Trade debts | 44 | €121,862 | €31,999 | -€89,862 | -73.7% |
| Suppliers | 440/4 | €121,862 | €31,999 | -€89,862 | -73.7% |
| Advances received on contracts in progress | 46 | - | €77,970 | +€77,970 | |
| Taxes, remuneration and social security | 45 | €14,526 | €80,840 | +€66,314 | +456.5% |
| Taxes | 450/3 | €14,526 | €80,840 | +€66,314 | +456.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,531 | €15,186 | -€20,346 | -57.3% |
| Other operating charges | 640/8 | €13,676 | €21,593 | +€7,918 | +57.9% |
| Non-recurring operating charges | 66A | €121,285 | - | -€121,285 | |
| Gross operating margin | 9900 | €187,774 | €316,362 | +€128,588 | +68.5% |
| Operating profit (loss) | 9901 | €17,282 | €279,583 | +€262,301 | +1517.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,846 | €953 | -€2,893 | -75.2% |
| Recurring financial charges | 65 | €3,846 | €953 | -€2,893 | -75.2% |
| Profit (loss) for the period before taxes | 9903 | €13,436 | €278,631 | +€265,194 | +1973.7% |
| Income taxes | 67/77 | €14,525 | €66,315 | +€51,790 | +356.6% |
| Profit (loss) for the period | 9904 | -€1,089 | €212,316 | +€213,404 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,089 | €212,316 | +€213,404 |
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 30 September 2026 via checked.be.