APEIRON-TEAM: what changed
What changed
APEIRON-TEAM
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€407,547
2024 · €212,341+€195,206
Equity
€1.1m
2024 · €757,844+€318,107
Cash
€199,157
2024 · €235,719-€36,562
Balance sheet total
€4.8m
2024 · €2.9m+€1.9m
Largest movements
Assets
- Tangible fixed assets +€2.0m
up €2.0m (+1,732%), from €118,060 to €2.2m
of which Assets under construction and advance payments: +€1.5m
- Current investments -€311,122
down €311,122 (-38.2%), from €813,909 to €502,787
- Receivables within one year +€253,082
up €253,082 (+15.0%), from €1.7m to €1.9m
of which Trade receivables: +€346,187
Equity and liabilities
- Debts after one year +€1.4m
new in 2025: €1.4m
- Reserves +€317,547
up €317,547 (+46.0%), from €689,842 to €1.0m
of which Distributable reserves: +€317,547
- Other debts +€197,813
up €197,813 (+15.5%), from €1.3m to €1.5m
- Accrued charges and deferred income -€171,729
down €171,729 (-31.8%), from €539,540 to €367,811
- Current portion of long-term debt +€82,454
new in 2025: €82,454
Income statement
- Gross operating margin +€326,159
up €326,159 (+32.2%), from €1.0m to €1.3m
- Depreciation +€208,767
up €208,767 (+356%), from €58,661 to €267,428
- Staff costs -€72,065
down €72,065 (-10.9%), from €663,823 to €591,758
- Financial income +€38,626
up €38,626 (+316%), from €12,222 to €50,848
of which Financial income: +€38,626
- Taxes +€24,352
up €24,352 (+31.8%), from €76,692 to €101,044
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.
Result 2024
€212,341
Gross operating margin
+€326,159
Staff costs
+€72,065
Depreciation
-€208,767
Other operating charges
-€144
Other operating items
+€8,290
Financial income
+€38,626
Financial charges
-€16,671
Taxes
-€24,352
Result 2025
€407,547
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€532,863
Investment
-€2.0m
Financing
+€1.4m
Cash 2024
€235,719
From operations (derived)
+€532,863
Net result for the year
+€407,547
Depreciation
+€267,428
Receivables within one year
-€253,082
Deferred charges and accrued income
+€28,556
Trade debts
+€23,218
Tax, wage and social debts
+€33,111
Other debts
+€197,813
Accrued charges and deferred income
-€171,729
Investment (derived)
-€2.0m
Investment in fixed assets (net)
-€2.3m
Current investments
+€311,122
Financing
+€1.4m
Debts after one year
+€1.4m
Current portion of long-term debt
+€82,454
Short-term financial debts
-€1,657
Contributions, distributions and other
-€89,440
Cash 2025
€199,157
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,897,845 | €4,819,812 | +€1.9m | +66.3% |
| Fixed assets | 21/28 | €118,060 | €2,163,186 | +€2.0m | +1,732% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €118,060 | €2,163,186 | +€2.0m | +1,732% |
| Land and buildings | 22 | €50,529 | €659,409 | +€608,880 | +1,205% |
| Plant, machinery and equipment | 23 | €38,480 | €28,772 | -€9,708 | -25.2% |
| Furniture and vehicles | 24 | €11,438 | €4,286 | -€7,151 | -62.5% |
| Other tangible fixed assets | 26 | €17,613 | €10,201 | -€7,412 | -42.1% |
| Assets under construction and advance payments | 27 | - | €1,460,517 | +€1.5m | |
| Current assets | 29/58 | €2,779,785 | €2,656,627 | -€123,158 | -4.4% |
| Amounts receivable within one year | 40/41 | €1,690,800 | €1,943,882 | +€253,082 | +15.0% |
| Trade receivables | 40 | €504,968 | €851,155 | +€346,187 | +68.6% |
| Other amounts receivable | 41 | €1,185,832 | €1,092,727 | -€93,105 | -7.9% |
| Current investments | 50/53 | €813,909 | €502,787 | -€311,122 | -38.2% |
| Cash at bank and in hand | 54/58 | €235,719 | €199,157 | -€36,562 | -15.5% |
| Deferred charges and accrued income | 490/1 | €39,357 | €10,800 | -€28,556 | -72.6% |
| Total equity and liabilities | 10/49 | €2,897,845 | €4,819,812 | +€1.9m | +66.3% |
| Equity | 10/15 | €757,844 | €1,075,951 | +€318,107 | +42.0% |
| Contributions | 10/11 | €68,002 | €68,562 | +€560 | +0.8% |
| Capital | 10 | €64,905 | €65,465 | +€560 | +0.9% |
| Issued capital | 100 | €65,465 | €65,465 | = | 0.0% |
| Uncalled capital | 101 | €560 | €0 | -€560 | -100% |
| Contributions outside capital | 11 | €3,097 | €3,097 | = | 0.0% |
| Share premium | 1100/10 | €3,097 | €3,097 | = | 0.0% |
| Reserves | 13 | €689,842 | €1,007,389 | +€317,547 | +46.0% |
| Non-distributable reserves | 130/1 | €6,800 | €6,800 | = | 0.0% |
| Legal reserve | 130 | €6,800 | €6,800 | = | 0.0% |
| Distributable reserves | 133 | €683,042 | €1,000,589 | +€317,547 | +46.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,140,001 | €3,743,861 | +€1.6m | +74.9% |
| Amounts payable after more than one year | 17 | - | €1,440,650 | +€1.4m | |
| Financial debts | 170/4 | - | €1,440,650 | +€1.4m | |
| Amounts payable within one year | 42/48 | €1,600,461 | €1,935,400 | +€334,939 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | - | €82,454 | +€82,454 | |
| Financial debts | 43 | €1,657 | €0 | -€1,657 | -100% |
| Credit institutions | 430/8 | €1,657 | €0 | -€1,657 | -100% |
| Trade debts | 44 | €255,396 | €278,613 | +€23,218 | +9.1% |
| Suppliers | 440/4 | €255,396 | €278,613 | +€23,218 | +9.1% |
| Taxes, remuneration and social security | 45 | €70,658 | €103,769 | +€33,111 | +46.9% |
| Taxes | 450/3 | €7,653 | €49,431 | +€41,778 | +546% |
| Remuneration and social security | 454/9 | €63,004 | €54,338 | -€8,667 | -13.8% |
| Other amounts payable | 47/48 | €1,272,751 | €1,470,564 | +€197,813 | +15.5% |
| Accrued charges and deferred income | 492/3 | €539,540 | €367,811 | -€171,729 | -31.8% |
| Non-recurring operating income | 76A | - | €36,077 | +€36,077 | |
| Remuneration, social security and pensions | 62 | €663,823 | €591,758 | -€72,065 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,661 | €267,428 | +€208,767 | +356% |
| Other operating charges | 640/8 | €3,660 | €3,804 | +€144 | +3.9% |
| Non-recurring operating charges | 66A | €8,290 | €0 | -€8,290 | -100% |
| Gross operating margin | 9900 | €1,012,469 | €1,338,628 | +€326,159 | +32.2% |
| Operating profit (loss) | 9901 | €278,035 | €475,639 | +€197,604 | +71.1% |
| Financial income | 75/76B | €12,222 | €50,848 | +€38,626 | +316% |
| Recurring financial income | 75 | €12,222 | €50,848 | +€38,626 | +316% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €1,224 | €17,895 | +€16,671 | +1,362% |
| Recurring financial charges | 65 | €1,224 | €17,895 | +€16,671 | +1,362% |
| Profit (loss) for the period before taxes | 9903 | €289,033 | €508,591 | +€219,559 | +76.0% |
| Income taxes | 67/77 | €76,692 | €101,044 | +€24,352 | +31.8% |
| Profit (loss) for the period | 9904 | €212,341 | €407,547 | +€195,206 | +91.9% |
| Profit (loss) for the period to be appropriated | 9905 | €212,341 | €407,547 | +€195,206 | +91.9% |
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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 5 November 2026 via checked.be.