APERS & C°: 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.
APERS & C°
Largest movements
- Receivables within one year -€806,700
down €806,700 (-23.7%), from €3.4m to €2.6m
- Cash -€550,889
down €550,889 (-99.0%), from €556,264 to €5,375
mainly Tax, wage and social debts (-€539,122) and Contributions, distributions and other (-€500,000)
- Tax, wage and social debts -€539,122
down €539,122 (-93.1%), from €579,092 to €39,970
of which Taxes: -€535,689
- Reserves -€408,488
down €408,488 (-13.5%), from €3.0m to €2.6m
of which Distributable reserves: -€408,488
- Other debts -€349,063
down €349,063 (-95.1%), from €366,991 to €17,928
- Current portion of long-term debt -€61,641
no longer reported in 2025 (was €61,641)
- Other operating charges -€51,437
down €51,437 (-97.9%), from €52,555 to €1,118
- Staff costs -€38,019
down €38,019 (-99.5%), from €38,217 to €198
- Financial income -€29,835
down €29,835 (-18.6%), from €160,602 to €130,767
- Taxes +€26,849
up €26,849 (+409.3%), from €6,561 to €33,410
- Write-downs -€22,683
no longer reported in 2025 (was €22,683)
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 | €4,064,836 | €2,706,521 | -€1.4m | -33.4% |
| Fixed assets | 21/28 | €103,125 | €103,125 | = | 0.0% |
| Financial fixed assets | 28 | €103,125 | €103,125 | = | 0.0% |
| Current assets | 29/58 | €3,961,711 | €2,603,396 | -€1.4m | -34.3% |
| Amounts receivable within one year | 40/41 | €3,398,598 | €2,591,899 | -€806,700 | -23.7% |
| Other amounts receivable | 41 | €3,398,598 | €2,591,899 | -€806,700 | -23.7% |
| Current investments | 50/53 | €927 | €13 | -€913 | -98.6% |
| Cash at bank and in hand | 54/58 | €556,264 | €5,375 | -€550,889 | -99.0% |
| Deferred charges and accrued income | 490/1 | €5,922 | €6,110 | +€188 | +3.2% |
| Total equity and liabilities | 10/49 | €4,064,836 | €2,706,521 | -€1.4m | -33.4% |
| Equity | 10/15 | €3,057,111 | €2,648,623 | -€408,488 | -13.4% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €3,026,111 | €2,617,623 | -€408,488 | -13.5% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €674 | €674 | = | 0.0% |
| Distributable reserves | 133 | €3,022,339 | €2,613,851 | -€408,488 | -13.5% |
| Amounts payable | 17/49 | €1,007,724 | €57,898 | -€949,826 | -94.3% |
| Amounts payable within one year | 42/48 | €1,007,724 | €57,898 | -€949,826 | -94.3% |
| Current portion of amounts payable after more than one year | 42 | €61,641 | - | -€61,641 | |
| Taxes, remuneration and social security | 45 | €579,092 | €39,970 | -€539,122 | -93.1% |
| Taxes | 450/3 | €575,660 | €39,970 | -€535,689 | -93.1% |
| Remuneration and social security | 454/9 | €3,432 | - | -€3,432 | |
| Other amounts payable | 47/48 | €366,991 | €17,928 | -€349,063 | -95.1% |
| Remuneration, social security and pensions | 62 | €38,217 | €198 | -€38,019 | -99.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,683 | - | -€22,683 | |
| Other operating charges | 640/8 | €52,555 | €1,118 | -€51,437 | -97.9% |
| Gross operating margin | 9900 | -€19,440 | -€3,379 | +€16,062 | +82.6% |
| Operating profit (loss) | 9901 | -€132,895 | -€4,695 | +€128,200 | +96.5% |
| Financial income | 75/76B | €160,602 | €130,767 | -€29,835 | -18.6% |
| Recurring financial income | 75 | €160,602 | €130,767 | -€29,835 | -18.6% |
| Financial charges | 65/66B | €4,397 | €1,150 | -€3,247 | -73.8% |
| Recurring financial charges | 65 | €4,397 | €1,150 | -€3,247 | -73.8% |
| Profit (loss) for the period before taxes | 9903 | €23,310 | €124,922 | +€101,612 | +435.9% |
| Income taxes | 67/77 | €6,561 | €33,410 | +€26,849 | +409.3% |
| Profit (loss) for the period | 9904 | €16,749 | €91,512 | +€74,763 | +446.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,749 | €91,512 | +€74,763 | +446.4% |
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 11 October 2026 via checked.be.