APETITO: 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.
APETITO
Largest movements
- Receivables within one year +€39,329
up €39,329 (+535.0%), from €7,351 to €46,679
of which Trade receivables: +€41,753
- Tangible fixed assets +€20,491
up €20,491 (+129.0%), from €15,882 to €36,373
of which Furniture and vehicles: +€22,174
- Cash +€9,473
up €9,473 (+72.1%), from €13,145 to €22,618
mainly Net result for the year (+€28,164) and Debts after one year (+€16,031)
- Stocks and contracts -€2,929
down €2,929 (-66.4%), from €4,413 to €1,484
- Reserves +€28,227
up €28,227 (+123.1%), from €22,935 to €51,162
of which Distributable reserves: +€28,227
- Debts after one year +€16,031
new in 2025: €16,031
- Tax, wage and social debts +€9,434
up €9,434 (+110.2%), from €8,557 to €17,991
of which Remuneration and social security: +€5,445
- Trade debts +€6,766
up €6,766 (+123.1%), from €5,496 to €12,262
- Current portion of long-term debt +€5,510
new in 2025: €5,510
- Gross operating margin +€53,105
up €53,105 (+41.1%), from €129,315 to €182,419
- Staff costs +€20,665
up €20,665 (+17.4%), from €118,461 to €139,126
- Taxes +€3,989
new in 2025: €3,989
- Depreciation +€2,684
up €2,684 (+76.6%), from €3,502 to €6,186
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 | €43,251 | €109,411 | +€66,160 | +153.0% |
| Fixed assets | 21/28 | €16,487 | €36,373 | +€19,886 | +120.6% |
| Tangible fixed assets | 22/27 | €15,882 | €36,373 | +€20,491 | +129.0% |
| Plant, machinery and equipment | 23 | - | €657 | +€657 | |
| Furniture and vehicles | 24 | €1,708 | €23,882 | +€22,174 | +1298.3% |
| Other tangible fixed assets | 26 | €14,174 | €11,834 | -€2,339 | -16.5% |
| Financial fixed assets | 28 | €605 | €0 | -€605 | -100.0% |
| Current assets | 29/58 | €26,764 | €73,038 | +€46,273 | +172.9% |
| Stocks and contracts in progress | 3 | €4,413 | €1,484 | -€2,929 | -66.4% |
| Stocks | 30/36 | €4,413 | €1,484 | -€2,929 | -66.4% |
| Amounts receivable within one year | 40/41 | €7,351 | €46,679 | +€39,329 | +535.0% |
| Trade receivables | 40 | €1,125 | €42,878 | +€41,753 | +3712.5% |
| Other amounts receivable | 41 | €6,226 | €3,801 | -€2,424 | -38.9% |
| Cash at bank and in hand | 54/58 | €13,145 | €22,618 | +€9,473 | +72.1% |
| Deferred charges and accrued income | 490/1 | €1,856 | €2,257 | +€400 | +21.6% |
| Total equity and liabilities | 10/49 | €43,251 | €109,411 | +€66,160 | +153.0% |
| Equity | 10/15 | €29,198 | €57,362 | +€28,164 | +96.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €22,935 | €51,162 | +€28,227 | +123.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €22,935 | €51,162 | +€28,227 | +123.1% |
| Profit (loss) carried forward | 14 | €63 | €0 | -€63 | -100.0% |
| Amounts payable | 17/49 | €14,053 | €52,049 | +€37,996 | +270.4% |
| Amounts payable after more than one year | 17 | - | €16,031 | +€16,031 | |
| Financial debts | 170/4 | - | €16,031 | +€16,031 | |
| Amounts payable within one year | 42/48 | €14,053 | €36,018 | +€21,965 | +156.3% |
| Current portion of amounts payable after more than one year | 42 | - | €5,510 | +€5,510 | |
| Trade debts | 44 | €5,496 | €12,262 | +€6,766 | +123.1% |
| Suppliers | 440/4 | €5,496 | €12,262 | +€6,766 | +123.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €8,557 | €17,991 | +€9,434 | +110.2% |
| Taxes | 450/3 | €0 | €3,989 | +€3,989 | |
| Remuneration and social security | 454/9 | €8,557 | €14,002 | +€5,445 | +63.6% |
| Other amounts payable | 47/48 | - | €255 | +€255 | |
| Remuneration, social security and pensions | 62 | €118,461 | €139,126 | +€20,665 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,502 | €6,186 | +€2,684 | +76.6% |
| Other operating charges | 640/8 | €2,065 | €3,294 | +€1,229 | +59.5% |
| Gross operating margin | 9900 | €129,315 | €182,419 | +€53,105 | +41.1% |
| Operating profit (loss) | 9901 | €5,286 | €33,813 | +€28,527 | +539.6% |
| Financial income | 75/76B | €241 | €0 | -€241 | -100.0% |
| Recurring financial income | 75 | €241 | €0 | -€241 | -100.0% |
| Financial charges | 65/66B | €489 | €1,660 | +€1,171 | +239.6% |
| Recurring financial charges | 65 | €489 | €1,660 | +€1,171 | +239.6% |
| Profit (loss) for the period before taxes | 9903 | €5,039 | €32,153 | +€27,114 | +538.1% |
| Income taxes | 67/77 | - | €3,989 | +€3,989 | |
| Profit (loss) for the period | 9904 | €5,039 | €28,164 | +€23,125 | +458.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,039 | €28,164 | +€23,125 | +458.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.