APEREAU: 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.
APEREAU
Largest movements
- Receivables after one year +€231,500
up €231,500 (+271.1%), from €85,388 to €316,888
- Receivables within one year -€63,352
down €63,352 (-77.2%), from €82,034 to €18,682
of which Trade receivables: -€34,861
- Tangible fixed assets -€19,062
down €19,062 (-100.0%), from €19,062 to €0
- Trade debts +€204,351
up €204,351 (+532.6%), from €38,368 to €242,719
- Current portion of long-term debt -€25,000
down €25,000 (-92.3%), from €27,083 to €2,083
- Profit (loss) carried forward -€23,248
down €23,248 (-24.6%), from €94,531 to €71,283
- Other debts -€7,523
down €7,523 (-100.0%), from €7,523 to €0
- Gross operating margin -€32,162
down €32,162, from €8,594 to -€23,568
- Depreciation -€3,941
down €3,941 (-100.0%), from €3,941 to €0
- Financial income +€2,139
up €2,139 (+29.5%), from €7,248 to €9,387
- Financial charges -€1,930
down €1,930 (-17.7%), from €10,877 to €8,947
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.
Cash bridge derived
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 | €187,957 | €336,536 | +€148,580 | +79.0% |
| Fixed assets | 21/28 | €19,062 | €0 | -€19,062 | -100.0% |
| Tangible fixed assets | 22/27 | €19,062 | €0 | -€19,062 | -100.0% |
| Plant, machinery and equipment | 23 | €19,062 | €0 | -€19,062 | -100.0% |
| Current assets | 29/58 | €168,895 | €336,536 | +€167,641 | +99.3% |
| Amounts receivable after more than one year | 29 | €85,388 | €316,888 | +€231,500 | +271.1% |
| Other amounts receivable | 291 | €85,388 | €316,888 | +€231,500 | +271.1% |
| Amounts receivable within one year | 40/41 | €82,034 | €18,682 | -€63,352 | -77.2% |
| Trade receivables | 40 | €46,784 | €11,923 | -€34,861 | -74.5% |
| Other amounts receivable | 41 | €35,249 | €6,759 | -€28,491 | -80.8% |
| Cash at bank and in hand | 54/58 | €643 | €870 | +€227 | +35.3% |
| Deferred charges and accrued income | 490/1 | €831 | €98 | -€733 | -88.2% |
| Total equity and liabilities | 10/49 | €187,957 | €336,536 | +€148,580 | +79.0% |
| Equity | 10/15 | €114,982 | €91,734 | -€23,248 | -20.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,531 | €71,283 | -€23,248 | -24.6% |
| Amounts payable | 17/49 | €72,975 | €244,802 | +€171,827 | +235.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €72,975 | €244,802 | +€171,827 | +235.5% |
| Current portion of amounts payable after more than one year | 42 | €27,083 | €2,083 | -€25,000 | -92.3% |
| Trade debts | 44 | €38,368 | €242,719 | +€204,351 | +532.6% |
| Suppliers | 440/4 | €38,368 | €242,719 | +€204,351 | +532.6% |
| Other amounts payable | 47/48 | €7,523 | €0 | -€7,523 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,941 | €0 | -€3,941 | -100.0% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €8,594 | -€23,568 | -€32,162 | |
| Operating profit (loss) | 9901 | €4,536 | -€23,688 | -€28,223 | |
| Financial income | 75/76B | €7,248 | €9,387 | +€2,139 | +29.5% |
| Recurring financial income | 75 | €7,248 | €9,387 | +€2,139 | +29.5% |
| Financial charges | 65/66B | €10,877 | €8,947 | -€1,930 | -17.7% |
| Recurring financial charges | 65 | €10,877 | €8,947 | -€1,930 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €906 | -€23,248 | -€24,154 | |
| Profit (loss) for the period | 9904 | €906 | -€23,248 | -€24,154 | |
| Profit (loss) for the period to be appropriated | 9905 | €906 | -€23,248 | -€24,154 |
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 11 October 2026 via checked.be.