Apeqs: 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.
Apeqs
Largest movements
- Cash +€45,219
up €45,219 (+120%), from €37,590 to €82,809
mainly Net result for the year (+€27,999) and Receivables within one year (+€17,872)
- Receivables within one year -€17,872
down €17,872 (-59.1%), from €30,238 to €12,366
- Deferred charges and accrued income +€2,274
up €2,274 (+1,040%), from €219 to €2,493
- Tangible fixed assets +€2,043
up €2,043 (+21.1%), from €9,703 to €11,746
of which Furniture and vehicles: +€3,022
- Reserves +€27,999
up €27,999 (+64.6%), from €43,310 to €71,309
- Tax, wage and social debts +€4,197
up €4,197 (+19.3%), from €21,738 to €25,935
of which Taxes: +€4,197
- Gross operating margin -€18,500
down €18,500 (-32.1%), from €57,703 to €39,203
- Taxes -€3,795
down €3,795 (-32.3%), from €11,757 to €7,962
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 | €77,749 | €109,414 | +€31,665 | +40.7% |
| Fixed assets | 21/28 | €9,703 | €11,746 | +€2,043 | +21.1% |
| Tangible fixed assets | 22/27 | €9,703 | €11,746 | +€2,043 | +21.1% |
| Land and buildings | 22 | €8,999 | €8,020 | -€978 | -10.9% |
| Furniture and vehicles | 24 | €704 | €3,726 | +€3,022 | +429% |
| Current assets | 29/58 | €68,047 | €97,668 | +€29,621 | +43.5% |
| Amounts receivable within one year | 40/41 | €30,238 | €12,366 | -€17,872 | -59.1% |
| Trade receivables | 40 | €30,238 | €12,366 | -€17,872 | -59.1% |
| Cash at bank and in hand | 54/58 | €37,590 | €82,809 | +€45,219 | +120% |
| Deferred charges and accrued income | 490/1 | €219 | €2,493 | +€2,274 | +1,040% |
| Total equity and liabilities | 10/49 | €77,749 | €109,414 | +€31,665 | +40.7% |
| Equity | 10/15 | €48,310 | €76,309 | +€27,999 | +58.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €43,310 | €71,309 | +€27,999 | +64.6% |
| Distributable reserves | 133 | €43,310 | €71,309 | +€27,999 | +64.6% |
| Amounts payable | 17/49 | €29,439 | €33,105 | +€3,666 | +12.5% |
| Amounts payable within one year | 42/48 | €28,233 | €32,753 | +€4,520 | +16.0% |
| Trade debts | 44 | €1,489 | €1,878 | +€389 | +26.1% |
| Suppliers | 440/4 | €1,489 | €1,878 | +€389 | +26.1% |
| Taxes, remuneration and social security | 45 | €21,738 | €25,935 | +€4,197 | +19.3% |
| Taxes | 450/3 | €19,238 | €23,435 | +€4,197 | +21.8% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €5,006 | €4,940 | -€66 | -1.3% |
| Accrued charges and deferred income | 492/3 | €1,206 | €352 | -€854 | -70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,090 | €1,604 | +€515 | +47.2% |
| Other operating charges | 640/8 | €189 | €122 | -€67 | -35.4% |
| Gross operating margin | 9900 | €57,703 | €39,203 | -€18,500 | -32.1% |
| Operating profit (loss) | 9901 | €56,424 | €37,477 | -€18,948 | -33.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,357 | €1,516 | +€159 | +11.7% |
| Recurring financial charges | 65 | €1,357 | €1,516 | +€159 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | €55,067 | €35,961 | -€19,106 | -34.7% |
| Income taxes | 67/77 | €11,757 | €7,962 | -€3,795 | -32.3% |
| Profit (loss) for the period | 9904 | €43,310 | €27,999 | -€15,311 | -35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,310 | €27,999 | -€15,311 | -35.4% |
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 1 November 2026 via checked.be.