APE IMMO: 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.
APE IMMO
Largest movements
- Receivables within one year +€66,323
up €66,323 (+72.6%), from €91,403 to €157,726
of which Trade receivables: +€71,926
- Cash +€20,351
up €20,351 (+110%), from €18,570 to €38,921
mainly Other debts (+€110,656) and Net result for the year (+€84,616)
- Tangible fixed assets -€13,130
down €13,130 (-4.5%), from €294,129 to €280,999
of which Land and buildings: -€13,494
- Other debts +€110,656
up €110,656 (+281%), from €39,344 to €150,000
- Profit (loss) carried forward -€65,384
down €65,384 (-55.1%), from €118,700 to €53,316
- Tax, wage and social debts +€33,309
up €33,309 (+92.3%), from €36,078 to €69,386
of which Taxes: +€40,898
- Debts after one year -€14,533
down €14,533 (-7.2%), from €201,081 to €186,548
- Trade debts +€12,669
up €12,669 (+1,781%), from €712 to €13,381
- Staff costs -€20,903
down €20,903 (-68.7%), from €30,405 to €9,502
- Taxes +€6,498
up €6,498 (+33.6%), from €19,341 to €25,838
- Other operating charges -€4,781
down €4,781 (-58.4%), from €8,180 to €3,399
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 | €423,593 | €492,945 | +€69,352 | +16.4% |
| Fixed assets | 21/28 | €311,195 | €293,904 | -€17,290 | -5.6% |
| Intangible fixed assets | 21 | €16,871 | €12,905 | -€3,965 | -23.5% |
| Tangible fixed assets | 22/27 | €294,129 | €280,999 | -€13,130 | -4.5% |
| Land and buildings | 22 | €274,480 | €260,986 | -€13,494 | -4.9% |
| Plant, machinery and equipment | 23 | €4,408 | €2,795 | -€1,613 | -36.6% |
| Furniture and vehicles | 24 | €15,241 | €17,218 | +€1,977 | +13.0% |
| Financial fixed assets | 28 | €195 | €0 | -€195 | -100% |
| Current assets | 29/58 | €112,398 | €199,041 | +€86,643 | +77.1% |
| Amounts receivable within one year | 40/41 | €91,403 | €157,726 | +€66,323 | +72.6% |
| Trade receivables | 40 | €84,263 | €156,189 | +€71,926 | +85.4% |
| Other amounts receivable | 41 | €7,140 | €1,537 | -€5,603 | -78.5% |
| Cash at bank and in hand | 54/58 | €18,570 | €38,921 | +€20,351 | +110% |
| Deferred charges and accrued income | 490/1 | €2,426 | €2,395 | -€31 | -1.3% |
| Total equity and liabilities | 10/49 | €423,593 | €492,945 | +€69,352 | +16.4% |
| Equity | 10/15 | €123,700 | €58,316 | -€65,384 | -52.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,700 | €53,316 | -€65,384 | -55.1% |
| Amounts payable | 17/49 | €299,893 | €434,629 | +€134,737 | +44.9% |
| Amounts payable after more than one year | 17 | €201,081 | €186,548 | -€14,533 | -7.2% |
| Financial debts | 170/4 | €201,081 | €186,548 | -€14,533 | -7.2% |
| Amounts payable within one year | 42/48 | €98,812 | €248,082 | +€149,270 | +151% |
| Current portion of amounts payable after more than one year | 42 | €22,679 | €15,305 | -€7,374 | -32.5% |
| Financial debts | 43 | - | €10 | +€10 | |
| Credit institutions | 430/8 | - | €10 | +€10 | |
| Trade debts | 44 | €712 | €13,381 | +€12,669 | +1,781% |
| Suppliers | 440/4 | €712 | €13,381 | +€12,669 | +1,781% |
| Taxes, remuneration and social security | 45 | €36,078 | €69,386 | +€33,309 | +92.3% |
| Taxes | 450/3 | €28,488 | €69,386 | +€40,898 | +144% |
| Remuneration and social security | 454/9 | €7,589 | €0 | -€7,589 | -100% |
| Other amounts payable | 47/48 | €39,344 | €150,000 | +€110,656 | +281% |
| Remuneration, social security and pensions | 62 | €30,405 | €9,502 | -€20,903 | -68.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,099 | €24,584 | +€485 | +2.0% |
| Other operating charges | 640/8 | €8,180 | €3,399 | -€4,781 | -58.4% |
| Gross operating margin | 9900 | €154,129 | €155,133 | +€1,004 | +0.7% |
| Operating profit (loss) | 9901 | €91,445 | €117,648 | +€26,204 | +28.7% |
| Financial income | 75/76B | €25 | €41 | +€15 | +61.8% |
| Recurring financial income | 75 | €25 | €41 | +€15 | +61.8% |
| Financial charges | 65/66B | €5,711 | €7,235 | +€1,524 | +26.7% |
| Recurring financial charges | 65 | €5,711 | €7,235 | +€1,524 | +26.7% |
| Profit (loss) for the period before taxes | 9903 | €85,759 | €110,454 | +€24,695 | +28.8% |
| Income taxes | 67/77 | €19,341 | €25,838 | +€6,498 | +33.6% |
| Profit (loss) for the period | 9904 | €66,418 | €84,616 | +€18,198 | +27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €66,418 | €84,616 | +€18,198 | +27.4% |
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 27 October 2026 via checked.be.