APERS en PARTNERS: what changed
APERS en PARTNERS
Largest movements
- Stocks and contracts +€211,400
up €211,400 (+3,082%), from €6,860 to €218,260
of which Contracts in progress: +€139,000
- Receivables within one year -€134,447
down €134,447 (-57.7%), from €232,959 to €98,512
of which Trade receivables: -€111,255
- Cash +€116,686
up €116,686 (+93.7%), from €124,598 to €241,284
mainly Receivables within one year (+€134,447) and Current investments (+€104,900)
- Current investments -€104,900
down €104,900 (-99.2%), from €105,714 to €814
- Tangible fixed assets +€63,600
up €63,600 (+15.4%), from €414,171 to €477,771
of which Furniture and vehicles: +€65,054
- Debts after one year +€94,355
up €94,355 (+91.8%), from €102,768 to €197,123
- Trade debts -€66,805
down €66,805 (-25.2%), from €264,983 to €198,178
- Other debts +€63,598
up €63,598 (+1,133%), from €5,612 to €69,210
- Current portion of long-term debt +€44,205
up €44,205 (+156%), from €28,252 to €72,457
- Reserves +€25,156
up €25,156 (+5.6%), from €448,764 to €473,921
of which Distributable reserves: +€25,156
- Taxes -€24,307
down €24,307 (-66.5%), from €36,565 to €12,259
- Depreciation +€21,147
up €21,147 (+48.9%), from €43,233 to €64,381
- Gross operating margin -€19,740
down €19,740 (-6.8%), from €290,395 to €270,655
- Financial charges +€18,993
up €18,993 (+29.3%), from €64,757 to €83,750
of which Financial charges: +€18,993
- Financial income -€16,027
down €16,027 (-72.8%), from €22,021 to €5,993
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €903,130 | €1,058,095 | +€154,964 | +17.2% |
| Fixed assets | 21/28 | €428,995 | €492,595 | +€63,600 | +14.8% |
| Tangible fixed assets | 22/27 | €414,171 | €477,771 | +€63,600 | +15.4% |
| Land and buildings | 22 | €277,662 | €278,276 | +€613 | +0.2% |
| Plant, machinery and equipment | 23 | €14,574 | €12,508 | -€2,067 | -14.2% |
| Furniture and vehicles | 24 | €121,934 | €186,988 | +€65,054 | +53.4% |
| Financial fixed assets | 28 | €14,824 | €14,824 | = | 0.0% |
| Current assets | 29/58 | €474,136 | €565,499 | +€91,364 | +19.3% |
| Stocks and contracts in progress | 3 | €6,860 | €218,260 | +€211,400 | +3,082% |
| Stocks | 30/36 | €6,860 | €79,260 | +€72,400 | +1,055% |
| Contracts in progress | 37 | - | €139,000 | +€139,000 | |
| Amounts receivable within one year | 40/41 | €232,959 | €98,512 | -€134,447 | -57.7% |
| Trade receivables | 40 | €176,711 | €65,456 | -€111,255 | -63.0% |
| Other amounts receivable | 41 | €56,248 | €33,056 | -€23,192 | -41.2% |
| Current investments | 50/53 | €105,714 | €814 | -€104,900 | -99.2% |
| Cash at bank and in hand | 54/58 | €124,598 | €241,284 | +€116,686 | +93.7% |
| Deferred charges and accrued income | 490/1 | €4,005 | €6,630 | +€2,625 | +65.5% |
| Total equity and liabilities | 10/49 | €903,130 | €1,058,095 | +€154,964 | +17.2% |
| Equity | 10/15 | €467,364 | €492,521 | +€25,156 | +5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €448,764 | €473,921 | +€25,156 | +5.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,762 | €8,762 | = | 0.0% |
| Distributable reserves | 133 | €438,142 | €463,299 | +€25,156 | +5.7% |
| Amounts payable | 17/49 | €435,766 | €565,574 | +€129,808 | +29.8% |
| Amounts payable after more than one year | 17 | €102,768 | €197,123 | +€94,355 | +91.8% |
| Financial debts | 170/4 | €102,768 | €197,123 | +€94,355 | +91.8% |
| Amounts payable within one year | 42/48 | €325,270 | €356,517 | +€31,247 | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €28,252 | €72,457 | +€44,205 | +156% |
| Financial debts | 43 | €4,826 | €4,955 | +€130 | +2.7% |
| Credit institutions | 430/8 | €4,826 | €4,955 | +€130 | +2.7% |
| Trade debts | 44 | €264,983 | €198,178 | -€66,805 | -25.2% |
| Suppliers | 440/4 | €264,983 | €198,178 | -€66,805 | -25.2% |
| Taxes, remuneration and social security | 45 | €21,597 | €11,716 | -€9,881 | -45.8% |
| Taxes | 450/3 | €13,464 | €3,271 | -€10,193 | -75.7% |
| Remuneration and social security | 454/9 | €8,133 | €8,445 | +€312 | +3.8% |
| Other amounts payable | 47/48 | €5,612 | €69,210 | +€63,598 | +1,133% |
| Accrued charges and deferred income | 492/3 | €7,727 | €11,933 | +€4,206 | +54.4% |
| Non-recurring operating income | 76A | €0 | €5,000 | +€5,000 | |
| Remuneration, social security and pensions | 62 | €77,978 | €86,239 | +€8,262 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,233 | €64,381 | +€21,147 | +48.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €8,433 | €4,864 | -€3,569 | -42.3% |
| Gross operating margin | 9900 | €290,395 | €270,655 | -€19,740 | -6.8% |
| Operating profit (loss) | 9901 | €160,751 | €115,171 | -€45,580 | -28.4% |
| Financial income | 75/76B | €22,021 | €5,993 | -€16,027 | -72.8% |
| Recurring financial income | 75 | €22,021 | €5,993 | -€16,027 | -72.8% |
| Financial charges | 65/66B | €64,757 | €83,750 | +€18,993 | +29.3% |
| Recurring financial charges | 65 | €64,757 | €83,750 | +€18,993 | +29.3% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €118,015 | €37,415 | -€80,600 | -68.3% |
| Income taxes | 67/77 | €36,565 | €12,259 | -€24,307 | -66.5% |
| Profit (loss) for the period | 9904 | €81,450 | €25,156 | -€56,294 | -69.1% |
| Profit (loss) for the period to be appropriated | 9905 | €81,450 | €25,156 | -€56,294 | -69.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.