APER TB BRUGES: 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.
APER TB BRUGES
Largest movements
- Tangible fixed assets -€2.6m
down €2.6m (-8.2%), from €32.0m to €29.4m
- Receivables within one year +€384,107
up €384,107 (+103%), from €371,663 to €755,770
of which Trade receivables: +€379,657
- Cash +€369,538
up €369,538 (+74.2%), from €498,251 to €867,789
mainly Investment in fixed assets (net) (+€1.9m) and Depreciation (+€705,141)
- Profit (loss) carried forward -€2.4m
down €2.4m (-39.8%), from -€6.1m to -€8.5m
- Other debts +€486,879
up €486,879 (+134%), from €364,314 to €851,193
- Depreciation -€155,978
down €155,978 (-18.1%), from €861,119 to €705,141
- Other operating charges -€89,697
down €89,697 (-98.3%), from €91,276 to €1,578
- Gross operating margin -€67,508
down €67,508 (-4.8%), from €1.4m to €1.3m
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 | €32,904,198 | €31,027,249 | -€1.9m | -5.7% |
| Fixed assets | 21/28 | €32,031,495 | €29,400,000 | -€2.6m | -8.2% |
| Tangible fixed assets | 22/27 | €32,031,495 | €29,400,000 | -€2.6m | -8.2% |
| Land and buildings | 22 | €32,031,495 | €29,400,000 | -€2.6m | -8.2% |
| Current assets | 29/58 | €872,703 | €1,627,249 | +€754,546 | +86.5% |
| Amounts receivable after more than one year | 29 | - | €200 | +€200 | |
| Trade receivables | 290 | - | €200 | +€200 | |
| Amounts receivable within one year | 40/41 | €371,663 | €755,770 | +€384,107 | +103% |
| Trade receivables | 40 | €365,056 | €744,713 | +€379,657 | +104% |
| Other amounts receivable | 41 | €6,608 | €11,057 | +€4,450 | +67.3% |
| Cash at bank and in hand | 54/58 | €498,251 | €867,789 | +€369,538 | +74.2% |
| Deferred charges and accrued income | 490/1 | €2,788 | €3,489 | +€701 | +25.1% |
| Total equity and liabilities | 10/49 | €32,904,198 | €31,027,249 | -€1.9m | -5.7% |
| Equity | 10/15 | €7,310,398 | €4,897,736 | -€2.4m | -33.0% |
| Contributions | 10/11 | €13,370,001 | €13,370,001 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,059,603 | -€8,472,265 | -€2.4m | -39.8% |
| Amounts payable | 17/49 | €25,593,800 | €26,129,513 | +€535,714 | +2.1% |
| Amounts payable after more than one year | 17 | €24,830,000 | €24,830,000 | = | 0.0% |
| Other amounts payable | 178/9 | €24,830,000 | €24,830,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €398,744 | €925,791 | +€527,047 | +132% |
| Trade debts | 44 | €31,883 | €74,018 | +€42,136 | +132% |
| Suppliers | 440/4 | €31,883 | €74,018 | +€42,136 | +132% |
| Taxes, remuneration and social security | 45 | €2,547 | €580 | -€1,967 | -77.2% |
| Taxes | 450/3 | €2,547 | €580 | -€1,967 | -77.2% |
| Other amounts payable | 47/48 | €364,314 | €851,193 | +€486,879 | +134% |
| Accrued charges and deferred income | 492/3 | €365,056 | €373,722 | +€8,667 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €861,119 | €705,141 | -€155,978 | -18.1% |
| Other operating charges | 640/8 | €91,276 | €1,578 | -€89,697 | -98.3% |
| Non-recurring operating charges | 66A | €5,000,000 | €1,926,354 | -€3.1m | -61.5% |
| Gross operating margin | 9900 | €1,414,656 | €1,347,148 | -€67,508 | -4.8% |
| Operating profit (loss) | 9901 | -€4,537,738 | -€1,285,925 | +€3.3m | +71.7% |
| Financial income | 75/76B | - | €3,988 | +€3,988 | |
| Recurring financial income | 75 | - | €3,988 | +€3,988 | |
| Financial charges | 65/66B | €1,130,887 | €1,130,726 | -€161 | 0.0% |
| Recurring financial charges | 65 | €1,130,887 | €1,130,726 | -€161 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,668,625 | -€2,412,662 | +€3.3m | +57.4% |
| Profit (loss) for the period | 9904 | -€5,668,625 | -€2,412,662 | +€3.3m | +57.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,668,625 | -€2,412,662 | +€3.3m | +57.4% |
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 31 October 2026 via checked.be.