APCOLLECTION: 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.
APCOLLECTION
Largest movements
- Receivables within one year -€61,688
down €61,688 (-34.4%), from €179,258 to €117,570
of which Trade receivables: -€49,319
- Tangible fixed assets -€33,891
down €33,891 (-13.7%), from €246,910 to €213,019
of which Other tangible fixed assets: -€35,772
- Cash +€23,614
up €23,614 (+23.1%), from €102,188 to €125,802
mainly Receivables within one year (+€61,688) and Depreciation (+€56,000)
- Intangible fixed assets -€15,884
down €15,884 (-35.3%), from €45,033 to €29,148
- Advances received -€113,633
down €113,633 (-57.7%), from €196,791 to €83,158
- Accrued charges and deferred income +€37,201
new in 2025: €37,201
- Debts after one year -€22,066
down €22,066 (-15.1%), from €146,266 to €124,200
- Profit (loss) carried forward +€21,106
up €21,106 (+55.5%), from €38,042 to €59,148
- Trade debts -€19,744
down €19,744 (-17.5%), from €112,967 to €93,223
- Gross operating margin +€54,775
up €54,775 (+17.5%), from €313,427 to €368,202
- Staff costs +€24,081
up €24,081 (+10.1%), from €238,985 to €263,066
- Depreciation -€7,554
down €7,554 (-11.9%), from €63,554 to €56,000
- Write-downs +€6,305
up €6,305, from -€455 to €5,850
- Taxes +€4,069
up €4,069 (+60.3%), from €6,753 to €10,822
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 | €735,130 | €653,391 | -€81,740 | -11.1% |
| Fixed assets | 21/28 | €295,849 | €246,180 | -€49,669 | -16.8% |
| Intangible fixed assets | 21 | €45,033 | €29,148 | -€15,884 | -35.3% |
| Tangible fixed assets | 22/27 | €246,910 | €213,019 | -€33,891 | -13.7% |
| Plant, machinery and equipment | 23 | €5,060 | €7,859 | +€2,799 | +55.3% |
| Furniture and vehicles | 24 | €1,538 | €619 | -€919 | -59.8% |
| Other tangible fixed assets | 26 | €240,313 | €204,541 | -€35,772 | -14.9% |
| Financial fixed assets | 28 | €3,906 | €4,013 | +€107 | +2.7% |
| Current assets | 29/58 | €439,281 | €407,210 | -€32,071 | -7.3% |
| Stocks and contracts in progress | 3 | €155,130 | €159,287 | +€4,157 | +2.7% |
| Stocks | 30/36 | €155,130 | €159,287 | +€4,157 | +2.7% |
| Amounts receivable within one year | 40/41 | €179,258 | €117,570 | -€61,688 | -34.4% |
| Trade receivables | 40 | €148,771 | €99,451 | -€49,319 | -33.2% |
| Other amounts receivable | 41 | €30,488 | €18,119 | -€12,369 | -40.6% |
| Cash at bank and in hand | 54/58 | €102,188 | €125,802 | +€23,614 | +23.1% |
| Deferred charges and accrued income | 490/1 | €2,705 | €4,551 | +€1,847 | +68.3% |
| Total equity and liabilities | 10/49 | €735,130 | €653,391 | -€81,740 | -11.1% |
| Equity | 10/15 | €68,042 | €89,148 | +€21,106 | +31.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,042 | €59,148 | +€21,106 | +55.5% |
| Amounts payable | 17/49 | €667,088 | €564,243 | -€102,845 | -15.4% |
| Amounts payable after more than one year | 17 | €146,266 | €124,200 | -€22,066 | -15.1% |
| Financial debts | 170/4 | €146,266 | €124,200 | -€22,066 | -15.1% |
| Amounts payable within one year | 42/48 | €520,823 | €402,842 | -€117,981 | -22.7% |
| Current portion of amounts payable after more than one year | 42 | €21,766 | €22,066 | +€300 | +1.4% |
| Trade debts | 44 | €112,967 | €93,223 | -€19,744 | -17.5% |
| Suppliers | 440/4 | €112,967 | €93,223 | -€19,744 | -17.5% |
| Advances received on contracts in progress | 46 | €196,791 | €83,158 | -€113,633 | -57.7% |
| Taxes, remuneration and social security | 45 | €39,358 | €46,429 | +€7,071 | +18.0% |
| Remuneration and social security | 454/9 | €39,358 | €46,429 | +€7,071 | +18.0% |
| Other amounts payable | 47/48 | €149,940 | €157,966 | +€8,026 | +5.4% |
| Accrued charges and deferred income | 492/3 | - | €37,201 | +€37,201 | |
| Non-recurring operating income | 76A | - | €224 | +€224 | |
| Remuneration, social security and pensions | 62 | €238,985 | €263,066 | +€24,081 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,554 | €56,000 | -€7,554 | -11.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€455 | €5,850 | +€6,305 | |
| Other operating charges | 640/8 | €2,417 | €2,669 | +€252 | +10.4% |
| Non-recurring operating charges | 66A | €1,114 | - | -€1,114 | |
| Gross operating margin | 9900 | €313,427 | €368,202 | +€54,775 | +17.5% |
| Operating profit (loss) | 9901 | €7,813 | €40,618 | +€32,805 | +420% |
| Financial income | 75/76B | €870 | €348 | -€521 | -59.9% |
| Recurring financial income | 75 | €870 | €348 | -€521 | -59.9% |
| Financial charges | 65/66B | €8,357 | €9,039 | +€681 | +8.2% |
| Recurring financial charges | 65 | €8,357 | €9,039 | +€681 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €325 | €31,928 | +€31,603 | +9,722% |
| Income taxes | 67/77 | €6,753 | €10,822 | +€4,069 | +60.3% |
| Profit (loss) for the period | 9904 | -€6,428 | €21,106 | +€27,533 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,428 | €21,106 | +€27,533 |
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 17 October 2026 via checked.be.