APERRACHON: 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.
APERRACHON
Largest movements
- Receivables within one year +€101,854
up €101,854 (+66.5%), from €153,184 to €255,038
of which Other amounts receivable: +€86,629
- Cash -€21,118
down €21,118 (-100.0%), from €21,127 to €8
mainly Receivables within one year (-€101,854) and Tax, wage and social debts (-€1,587)
- Reserves +€54,857
up €54,857 (+53.2%), from €103,192 to €158,049
of which Distributable reserves: +€54,857
- Current portion of long-term debt +€26,000
new in 2025: €26,000
- Gross operating margin +€4,630
up €4,630 (+5.7%), from €81,174 to €85,804
- Other operating charges -€1,226
down €1,226 (-65.9%), from €1,860 to €634
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 | €174,812 | €256,204 | +€81,392 | +46.6% |
| Fixed assets | 21/28 | €0 | €919 | +€919 | |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €919 | +€919 | |
| Furniture and vehicles | 24 | €0 | €919 | +€919 | |
| Current assets | 29/58 | €174,812 | €255,286 | +€80,474 | +46.0% |
| Amounts receivable within one year | 40/41 | €153,184 | €255,038 | +€101,854 | +66.5% |
| Trade receivables | 40 | €17,191 | €32,416 | +€15,225 | +88.6% |
| Other amounts receivable | 41 | €135,993 | €222,622 | +€86,629 | +63.7% |
| Cash at bank and in hand | 54/58 | €21,127 | €8 | -€21,118 | -100.0% |
| Deferred charges and accrued income | 490/1 | €501 | €239 | -€262 | -52.2% |
| Total equity and liabilities | 10/49 | €174,812 | €256,204 | +€81,392 | +46.6% |
| Equity | 10/15 | €109,037 | €163,893 | +€54,857 | +50.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €103,192 | €158,049 | +€54,857 | +53.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €101,332 | €156,189 | +€54,857 | +54.1% |
| Profit (loss) carried forward | 14 | -€356 | -€356 | = | 0.0% |
| Amounts payable | 17/49 | €65,775 | €92,311 | +€26,536 | +40.3% |
| Amounts payable within one year | 42/48 | €65,775 | €92,311 | +€26,536 | +40.3% |
| Current portion of amounts payable after more than one year | 42 | - | €26,000 | +€26,000 | |
| Trade debts | 44 | €3,361 | €5,483 | +€2,122 | +63.1% |
| Suppliers | 440/4 | €3,361 | €5,483 | +€2,122 | +63.1% |
| Taxes, remuneration and social security | 45 | €62,414 | €60,828 | -€1,587 | -2.5% |
| Taxes | 450/3 | €62,414 | €60,828 | -€1,587 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €681 | €97 | -€584 | -85.7% |
| Other operating charges | 640/8 | €1,860 | €634 | -€1,226 | -65.9% |
| Gross operating margin | 9900 | €81,174 | €85,804 | +€4,630 | +5.7% |
| Operating profit (loss) | 9901 | €78,633 | €85,073 | +€6,440 | +8.2% |
| Financial charges | 65/66B | €2,537 | €3,107 | +€570 | +22.5% |
| Recurring financial charges | 65 | €2,537 | €3,038 | +€501 | +19.7% |
| Non-recurring financial charges | 66B | - | €69 | +€69 | |
| Profit (loss) for the period before taxes | 9903 | €76,096 | €81,966 | +€5,870 | +7.7% |
| Income taxes | 67/77 | €26,930 | €27,109 | +€179 | +0.7% |
| Profit (loss) for the period | 9904 | €49,166 | €54,857 | +€5,691 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €49,166 | €54,857 | +€5,691 | +11.6% |
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 13 October 2026 via checked.be.