APEM BENELUX: 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.
APEM BENELUX
Largest movements
- Receivables within one year -€342,222
down €342,222 (-22.5%), from €1.5m to €1.2m
of which Trade receivables: -€292,229
- Cash +€87,544
up €87,544 (+25.7%), from €340,818 to €428,362
mainly Net result for the year (+€794,016) and Receivables within one year (+€342,222)
- Other debts -€190,000
down €190,000 (-19.3%), from €984,000 to €794,000
- Trade debts -€92,955
down €92,955 (-17.3%), from €535,850 to €442,895
- Tax, wage and social debts +€55,406
up €55,406 (+30.8%), from €179,667 to €235,073
of which Remuneration and social security: +€57,432
- Advances received -€34,785
down €34,785 (-61.0%), from €56,978 to €22,193
- Turnover -€1.6m
down €1.6m (-18.8%), from €8.3m to €6.7m
- Purchases and services -€1.1m
down €1.1m (-18.4%), from €5.9m to €4.8m
- Gross operating margin -€484,675
down €484,675 (-20.3%), from €2.4m to €1.9m
- Staff costs -€169,844
down €169,844 (-16.9%), from €1.0m to €834,678
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 | €1,915,550 | €1,648,639 | -€266,911 | -13.9% |
| Fixed assets | 21/28 | €24,472 | €21,497 | -€2,975 | -12.2% |
| Tangible fixed assets | 22/27 | €5,557 | €3,300 | -€2,257 | -40.6% |
| Furniture and vehicles | 24 | €5,557 | €3,300 | -€2,257 | -40.6% |
| Financial fixed assets | 28 | €18,915 | €18,197 | -€718 | -3.8% |
| Current assets | 29/58 | €1,891,078 | €1,627,142 | -€263,936 | -14.0% |
| Amounts receivable within one year | 40/41 | €1,521,682 | €1,179,460 | -€342,222 | -22.5% |
| Trade receivables | 40 | €1,170,353 | €878,124 | -€292,229 | -25.0% |
| Other amounts receivable | 41 | €351,329 | €301,336 | -€49,993 | -14.2% |
| Cash at bank and in hand | 54/58 | €340,818 | €428,362 | +€87,544 | +25.7% |
| Deferred charges and accrued income | 490/1 | €28,578 | €19,320 | -€9,258 | -32.4% |
| Total equity and liabilities | 10/49 | €1,915,550 | €1,648,639 | -€266,911 | -13.9% |
| Equity | 10/15 | €147,571 | €147,587 | +€16 | 0.0% |
| Contributions | 10/11 | €131,250 | €131,250 | = | 0.0% |
| Capital | 10 | €131,250 | €131,250 | = | 0.0% |
| Issued capital | 100 | €131,250 | €131,250 | = | 0.0% |
| Reserves | 13 | €13,125 | €13,125 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,125 | €13,125 | = | 0.0% |
| Legal reserve | 130 | €13,125 | €13,125 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,196 | €3,212 | +€16 | +0.5% |
| Amounts payable | 17/49 | €1,767,979 | €1,501,052 | -€266,927 | -15.1% |
| Amounts payable within one year | 42/48 | €1,756,495 | €1,494,161 | -€262,334 | -14.9% |
| Trade debts | 44 | €535,850 | €442,895 | -€92,955 | -17.3% |
| Suppliers | 440/4 | €535,850 | €442,895 | -€92,955 | -17.3% |
| Advances received on contracts in progress | 46 | €56,978 | €22,193 | -€34,785 | -61.0% |
| Taxes, remuneration and social security | 45 | €179,667 | €235,073 | +€55,406 | +30.8% |
| Taxes | 450/3 | €53,857 | €51,831 | -€2,026 | -3.8% |
| Remuneration and social security | 454/9 | €125,810 | €183,242 | +€57,432 | +45.6% |
| Other amounts payable | 47/48 | €984,000 | €794,000 | -€190,000 | -19.3% |
| Accrued charges and deferred income | 492/3 | €11,484 | €6,891 | -€4,593 | -40.0% |
| Turnover | 70 | €8,258,648 | €6,706,890 | -€1.6m | -18.8% |
| Non-recurring operating income | 76A | €6,211 | - | -€6,211 | |
| Goods, raw materials, services and sundry goods | 60/61 | €5,891,491 | €4,809,006 | -€1.1m | -18.4% |
| Remuneration, social security and pensions | 62 | €1,004,522 | €834,678 | -€169,844 | -16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,257 | €3,622 | -€17,635 | -83.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,521 | -€14,266 | -€35,787 | |
| Other operating charges | 640/8 | €2,078 | €8,188 | +€6,110 | +294% |
| Gross operating margin | 9900 | €2,382,559 | €1,897,884 | -€484,675 | -20.3% |
| Operating profit (loss) | 9901 | €1,333,181 | €1,065,662 | -€267,519 | -20.1% |
| Financial income | 75/76B | €2,380 | €7,480 | +€5,100 | +214% |
| Recurring financial income | 75 | €2,380 | €7,480 | +€5,100 | +214% |
| Financial charges | 65/66B | €5,111 | €1,894 | -€3,217 | -62.9% |
| Recurring financial charges | 65 | €5,111 | €1,894 | -€3,217 | -62.9% |
| Profit (loss) for the period before taxes | 9903 | €1,330,450 | €1,071,248 | -€259,202 | -19.5% |
| Income taxes | 67/77 | €346,397 | €277,232 | -€69,165 | -20.0% |
| Profit (loss) for the period | 9904 | €984,053 | €794,016 | -€190,037 | -19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €984,053 | €794,016 | -€190,037 | -19.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.