APD IMMOBILIERE: what changed
APD IMMOBILIERE
Largest movements
- Tangible fixed assets -€11,144
down €11,144 (-6.2%), from €180,326 to €169,183
of which Plant, machinery and equipment: -€8,462
- Cash +€4,608
up €4,608 (+10.9%), from €42,318 to €46,926
mainly Depreciation (+€11,913)
- Reserves -€2,320
down €2,320 (-5.2%), from €44,850 to €42,530
- Gross operating margin +€2,859
up €2,859 (+26.3%), from €10,860 to €13,719
- Purchases and services -€1,564
down €1,564 (-13.2%), from €11,838 to €10,274
- Other operating charges -€436
down €436 (-7.5%), from €5,792 to €5,356
- Depreciation +€150
up €150 (+1.3%), from €11,763 to €11,913
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €222,644 | €217,037 | -€5,607 | -2.5% |
| Fixed assets | 21/28 | €180,326 | €169,183 | -€11,144 | -6.2% |
| Tangible fixed assets | 22/27 | €180,326 | €169,183 | -€11,144 | -6.2% |
| Land and buildings | 22 | €169,018 | €165,718 | -€3,301 | -2.0% |
| Plant, machinery and equipment | 23 | €11,308 | €2,846 | -€8,462 | -74.8% |
| Furniture and vehicles | 24 | - | €619 | +€619 | |
| Current assets | 29/58 | €42,318 | €47,854 | +€5,536 | +13.1% |
| Amounts receivable within one year | 40/41 | - | €928 | +€928 | |
| Other amounts receivable | 41 | - | €928 | +€928 | |
| Cash at bank and in hand | 54/58 | €42,318 | €46,926 | +€4,608 | +10.9% |
| Total equity and liabilities | 10/49 | €222,644 | €217,037 | -€5,607 | -2.5% |
| Equity | 10/15 | €141,496 | €139,096 | -€2,399 | -1.7% |
| Contributions | 10/11 | €145,365 | €145,365 | = | 0.0% |
| Capital | 10 | €145,365 | €145,365 | = | 0.0% |
| Issued capital | 100 | €145,365 | €145,365 | = | 0.0% |
| Reserves | 13 | €44,850 | €42,530 | -€2,320 | -5.2% |
| Tax-exempt reserves | 132 | €44,850 | €42,530 | -€2,320 | -5.2% |
| Profit (loss) carried forward | 14 | -€48,719 | -€48,799 | -€80 | -0.2% |
| Provisions and deferred taxes | 16 | €23,094 | €21,900 | -€1,195 | -5.2% |
| Deferred taxes | 168 | €23,094 | €21,900 | -€1,195 | -5.2% |
| Amounts payable | 17/49 | €58,054 | €56,041 | -€2,013 | -3.5% |
| Amounts payable within one year | 42/48 | €58,054 | €56,041 | -€2,013 | -3.5% |
| Trade debts | 44 | €1,859 | €246 | -€1,613 | -86.8% |
| Suppliers | 440/4 | €1,859 | €246 | -€1,613 | -86.8% |
| Other amounts payable | 47/48 | €56,194 | €55,794 | -€400 | -0.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €11,838 | €10,274 | -€1,564 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,763 | €11,913 | +€150 | +1.3% |
| Other operating charges | 640/8 | €5,792 | €5,356 | -€436 | -7.5% |
| Gross operating margin | 9900 | €10,860 | €13,719 | +€2,859 | +26.3% |
| Operating profit (loss) | 9901 | -€6,695 | -€3,549 | +€3,146 | +47.0% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,740 | -€3,594 | +€3,146 | +46.7% |
| Transfer from deferred taxes | 780 | €3,514 | €3,514 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€3,226 | -€80 | +€3,146 | +97.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,226 | -€80 | +€3,146 | +97.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.