APENA: 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.
APENA
Largest movements
- Financial fixed assets -€16,327
down €16,327 (-78.6%), from €20,783 to €4,456
- Receivables within one year +€11,211
up €11,211 (+138%), from €8,129 to €19,341
of which Other amounts receivable: +€14,113
- Cash +€9,372
up €9,372 (+163%), from €5,748 to €15,120
mainly Net result for the year (+€23,009) and Investment in fixed assets (net) (+€15,806)
- Profit (loss) carried forward +€23,009
up €23,009 (+99.5%), from -€23,135 to -€126
- Other debts -€14,651
down €14,651 (-91.3%), from €16,051 to €1,400
- Advances received +€9,701
new in 2024: €9,701
- Tax, wage and social debts -€8,858
down €8,858 (-77.0%), from €11,499 to €2,641
of which Remuneration and social security: -€7,899
- Trade debts -€4,738
down €4,738 (-96.3%), from €4,921 to €184
- Staff costs -€36,172
down €36,172 (-91.0%), from €39,746 to €3,573
- Gross operating margin -€16,543
down €16,543 (-33.3%), from €49,749 to €33,206
- Taxes +€2,077
up €2,077 (+951%), from €219 to €2,296
- Other operating charges +€648
up €648 (+113%), from €574 to €1,222
- Depreciation -€635
down €635 (-66.9%), from €949 to €314
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.
Derived cash bridge
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 | €35,143 | €39,607 | +€4,463 | +12.7% |
| Fixed assets | 21/28 | €21,266 | €5,146 | -€16,120 | -75.8% |
| Tangible fixed assets | 22/27 | €483 | €690 | +€207 | +42.9% |
| Plant, machinery and equipment | 23 | €483 | €690 | +€207 | +42.9% |
| Financial fixed assets | 28 | €20,783 | €4,456 | -€16,327 | -78.6% |
| Current assets | 29/58 | €13,877 | €34,460 | +€20,583 | +148% |
| Amounts receivable within one year | 40/41 | €8,129 | €19,341 | +€11,211 | +138% |
| Trade receivables | 40 | €8,129 | €5,227 | -€2,902 | -35.7% |
| Other amounts receivable | 41 | - | €14,113 | +€14,113 | |
| Cash at bank and in hand | 54/58 | €5,748 | €15,120 | +€9,372 | +163% |
| Total equity and liabilities | 10/49 | €35,143 | €39,607 | +€4,463 | +12.7% |
| Equity | 10/15 | €2,672 | €25,681 | +€23,009 | +861% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €19,607 | €19,607 | = | 0.0% |
| Distributable reserves | 133 | €19,607 | €19,607 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,135 | -€126 | +€23,009 | +99.5% |
| Amounts payable | 17/49 | €32,471 | €13,925 | -€18,546 | -57.1% |
| Amounts payable within one year | 42/48 | €32,471 | €13,925 | -€18,546 | -57.1% |
| Trade debts | 44 | €4,921 | €184 | -€4,738 | -96.3% |
| Suppliers | 440/4 | €4,921 | €184 | -€4,738 | -96.3% |
| Advances received on contracts in progress | 46 | - | €9,701 | +€9,701 | |
| Taxes, remuneration and social security | 45 | €11,499 | €2,641 | -€8,858 | -77.0% |
| Taxes | 450/3 | €3,600 | €2,641 | -€959 | -26.7% |
| Remuneration and social security | 454/9 | €7,899 | - | -€7,899 | |
| Other amounts payable | 47/48 | €16,051 | €1,400 | -€14,651 | -91.3% |
| Remuneration, social security and pensions | 62 | €39,746 | €3,573 | -€36,172 | -91.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €949 | €314 | -€635 | -66.9% |
| Other operating charges | 640/8 | €574 | €1,222 | +€648 | +113% |
| Gross operating margin | 9900 | €49,749 | €33,206 | -€16,543 | -33.3% |
| Operating profit (loss) | 9901 | €8,479 | €28,097 | +€19,617 | +231% |
| Financial charges | 65/66B | €2,608 | €2,792 | +€184 | +7.1% |
| Recurring financial charges | 65 | €2,608 | €2,792 | +€184 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €5,872 | €25,305 | +€19,433 | +331% |
| Income taxes | 67/77 | €219 | €2,296 | +€2,077 | +951% |
| Profit (loss) for the period | 9904 | €5,653 | €23,009 | +€17,356 | +307% |
| Profit (loss) for the period to be appropriated | 9905 | €5,653 | €23,009 | +€17,356 | +307% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.