APEFE: 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.
APEFE
Largest movements
- Cash +€2.7m
up €2.7m (+43.1%), from €6.3m to €9.1m
mainly Debts within one year (+€2.2m) and Net result for the year (+€463,132)
- Receivables within one year -€124,471
down €124,471 (-14.5%), from €858,448 to €733,977
of which Trade receivables: -€105,879
- Debts within one year +€2.2m
up €2.2m (+37.2%), from €5.9m to €8.0m
- Equity +€463,132
up €463,132 (+38.3%), from €1.2m to €1.7m
of which Contributions: +€887,346
- Services and other goods +€2.2m
up €2.2m (+29.2%), from €7.6m to €9.8m
- Staff costs +€351,199
up €351,199 (+10.4%), from €3.4m to €3.7m
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,208,389 | €10,819,636 | +€2.6m | +31.8% |
| Current assets | 29/58 | €8,208,389 | €10,819,636 | +€2.6m | +31.8% |
| Amounts receivable within one year | 40/41 | €858,448 | €733,977 | -€124,471 | -14.5% |
| Trade receivables | 40 | €354,608 | €248,728 | -€105,879 | -29.9% |
| Other amounts receivable | 41 | €503,841 | €485,249 | -€18,592 | -3.7% |
| Current investments | 50/53 | €1,000,000 | €1,000,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,347,289 | €9,083,588 | +€2.7m | +43.1% |
| Deferred charges and accrued income | 490/1 | €2,651 | €2,072 | -€580 | -21.9% |
| Total equity and liabilities | 10/49 | €8,208,389 | €10,819,636 | +€2.6m | +31.8% |
| Equity | 10/15 | €1,207,647 | €1,670,779 | +€463,132 | +38.3% |
| Contributions | 10/11 | - | €887,346 | +€887,346 | |
| Capital | 10 | - | €887,346 | +€887,346 | |
| Reserves | 13 | €320,301 | €783,433 | +€463,132 | +144.6% |
| Provisions and deferred taxes | 16 | €1,149,841 | €1,119,670 | -€30,171 | -2.6% |
| Provisions for liabilities and charges | 160/5 | €1,149,841 | €1,119,670 | -€30,171 | -2.6% |
| Other liabilities and charges | 164/5 | €1,149,841 | €1,119,670 | -€30,171 | -2.6% |
| Amounts payable | 17/49 | €5,850,901 | €8,029,187 | +€2.2m | +37.2% |
| Amounts payable within one year | 42/48 | €5,850,524 | €8,029,007 | +€2.2m | +37.2% |
| Trade debts | 44 | €145,727 | €256,641 | +€110,914 | +76.1% |
| Suppliers | 440/4 | €145,727 | €256,641 | +€110,914 | +76.1% |
| Taxes, remuneration and social security | 45 | €157,886 | €221,364 | +€63,478 | +40.2% |
| Taxes | 450/3 | €8,059 | €53,356 | +€45,297 | +562.0% |
| Remuneration and social security | 454/9 | €149,827 | €168,008 | +€18,181 | +12.1% |
| Accrued charges and deferred income | 492/3 | €377 | €180 | -€197 | -52.2% |
| Operating income | 70/76A | €11,069,050 | €13,949,166 | +€2.9m | +26.0% |
| Non-recurring operating income | 76A | €28,712 | €30,171 | +€1,459 | +5.1% |
| Operating charges | 60/66A | €10,957,626 | €13,586,937 | +€2.6m | +24.0% |
| Services and other goods | 61 | €7,551,805 | €9,760,470 | +€2.2m | +29.2% |
| Remuneration, social security and pensions | 62 | €3,368,575 | €3,719,774 | +€351,199 | +10.4% |
| Other operating charges | 640/8 | €8,534 | €76,522 | +€67,988 | +796.7% |
| Non-recurring operating charges | 66A | €28,712 | €30,171 | +€1,459 | +5.1% |
| Operating profit (loss) | 9901 | €111,424 | €362,229 | +€250,805 | +225.1% |
| Financial income | 75/76B | €72,484 | €135,316 | +€62,833 | +86.7% |
| Recurring financial income | 75 | €72,484 | €135,316 | +€62,833 | +86.7% |
| Income from financial fixed assets | 750 | €72,484 | - | -€72,484 | |
| Income from current assets | 751 | - | €135,316 | +€135,316 | |
| Financial charges | 65/66B | €81,076 | €34,412 | -€46,663 | -57.6% |
| Recurring financial charges | 65 | €81,076 | €34,412 | -€46,663 | -57.6% |
| Other financial charges | 652/9 | €81,076 | €34,412 | -€46,663 | -57.6% |
| Profit (loss) for the period before taxes | 9903 | €102,832 | €463,132 | +€360,301 | +350.4% |
| Profit (loss) for the period | 9904 | €102,832 | €463,132 | +€360,301 | +350.4% |
| Profit (loss) for the period to be appropriated | 9905 | €102,832 | €463,132 | +€360,301 | +350.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.