APERTUM: what changed
Two fiscal 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.
APERTUM
Largest movements
- Tangible fixed assets -€117,416
down €117,416 (-7.9%), from €1.5m to €1.4m
of which Land and buildings: -€101,112
- Cash -€19,976
down €19,976 (-42.8%), from €46,667 to €26,691
mainly Debts after one year (-€76,478) and Other debts (-€54,747)
- Debts after one year -€76,478
down €76,478 (-6.0%), from €1.3m to €1.2m
- Other debts -€54,747
down €54,747 (-30.1%), from €181,768 to €127,022
- Profit (loss) carried forward +€29,740
up €29,740 (+36.4%), from -€81,759 to -€52,020
- Tax, wage and social debts -€19,235
down €19,235 (-55.7%), from €34,552 to €15,317
of which Taxes: -€19,235
- Gross operating margin -€119,304
down €119,304 (-37.1%), from €321,154 to €201,849
- Other operating charges +€10,476
up €10,476 (+112.6%), from €9,306 to €19,781
- Taxes +€4,259
up €4,259 (+41.8%), from €10,188 to €14,447
- Financial income -€3,376
down €3,376 (-93.6%), from €3,609 to €232
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 | €1,616,407 | €1,480,606 | -€135,800 | -8.4% |
| Fixed assets | 21/28 | €1,480,373 | €1,362,956 | -€117,416 | -7.9% |
| Tangible fixed assets | 22/27 | €1,480,373 | €1,362,956 | -€117,416 | -7.9% |
| Land and buildings | 22 | €1,325,149 | €1,224,038 | -€101,112 | -7.6% |
| Plant, machinery and equipment | 23 | €122,649 | €123,209 | +€560 | +0.5% |
| Furniture and vehicles | 24 | €32,575 | €15,710 | -€16,865 | -51.8% |
| Current assets | 29/58 | €136,034 | €117,650 | -€18,384 | -13.5% |
| Stocks and contracts in progress | 3 | - | €13,472 | +€13,472 | |
| Contracts in progress | 37 | - | €13,472 | +€13,472 | |
| Amounts receivable within one year | 40/41 | €86,608 | €74,332 | -€12,276 | -14.2% |
| Trade receivables | 40 | €19,722 | €587 | -€19,134 | -97.0% |
| Other amounts receivable | 41 | €66,887 | €73,745 | +€6,858 | +10.3% |
| Cash at bank and in hand | 54/58 | €46,667 | €26,691 | -€19,976 | -42.8% |
| Deferred charges and accrued income | 490/1 | €2,759 | €3,155 | +€396 | +14.4% |
| Total equity and liabilities | 10/49 | €1,616,407 | €1,480,606 | -€135,800 | -8.4% |
| Equity | 10/15 | -€48,480 | -€18,740 | +€29,740 | +61.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €14,679 | €14,679 | = | 0.0% |
| Distributable reserves | 133 | €14,679 | €14,679 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,759 | -€52,020 | +€29,740 | +36.4% |
| Amounts payable | 17/49 | €1,664,887 | €1,499,346 | -€165,540 | -9.9% |
| Amounts payable after more than one year | 17 | €1,276,801 | €1,200,322 | -€76,478 | -6.0% |
| Financial debts | 170/4 | €1,276,801 | €1,200,322 | -€76,478 | -6.0% |
| Amounts payable within one year | 42/48 | €374,407 | €291,525 | -€82,882 | -22.1% |
| Current portion of amounts payable after more than one year | 42 | €75,193 | €76,478 | +€1,285 | +1.7% |
| Trade debts | 44 | €29,561 | €34,146 | +€4,585 | +15.5% |
| Suppliers | 440/4 | €29,561 | €34,146 | +€4,585 | +15.5% |
| Advances received on contracts in progress | 46 | €53,333 | €38,562 | -€14,771 | -27.7% |
| Taxes, remuneration and social security | 45 | €34,552 | €15,317 | -€19,235 | -55.7% |
| Taxes | 450/3 | €32,552 | €13,317 | -€19,235 | -59.1% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €181,768 | €127,022 | -€54,747 | -30.1% |
| Accrued charges and deferred income | 492/3 | €13,679 | €7,499 | -€6,180 | -45.2% |
| Non-recurring operating income | 76A | - | €16,962 | +€16,962 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,998 | €120,416 | -€2,582 | -2.1% |
| Other operating charges | 640/8 | €9,306 | €19,781 | +€10,476 | +112.6% |
| Gross operating margin | 9900 | €321,154 | €201,849 | -€119,304 | -37.1% |
| Operating profit (loss) | 9901 | €188,850 | €61,652 | -€127,199 | -67.4% |
| Financial income | 75/76B | €3,609 | €232 | -€3,376 | -93.6% |
| Recurring financial income | 75 | €3,609 | €232 | -€3,376 | -93.6% |
| Financial charges | 65/66B | €18,012 | €17,697 | -€315 | -1.7% |
| Recurring financial charges | 65 | €18,012 | €17,053 | -€959 | -5.3% |
| Non-recurring financial charges | 66B | - | €644 | +€644 | |
| Profit (loss) for the period before taxes | 9903 | €174,447 | €44,187 | -€130,260 | -74.7% |
| Income taxes | 67/77 | €10,188 | €14,447 | +€4,259 | +41.8% |
| Profit (loss) for the period | 9904 | €164,259 | €29,740 | -€134,519 | -81.9% |
| Profit (loss) for the period to be appropriated | 9905 | €164,259 | €29,740 | -€134,519 | -81.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.