APEX.: what changed
APEX.
Largest movements
- Receivables within one year +€54,083
up €54,083 (+71.6%), from €75,557 to €129,640
of which Trade receivables: +€54,083
- Cash -€16,768
down €16,768 (-9.6%), from €174,048 to €157,280
mainly Receivables within one year (-€54,083) and Contributions, distributions and other (-€28,929)
- Stocks and contracts -€12,997
down €12,997 (-23.5%), from €55,201 to €42,205
- Deferred charges and accrued income +€12,667
up €12,667 (+1,807%), from €701 to €13,368
- Receivables after one year +€8,009
up €8,009 (+57.6%), from €13,901 to €21,910
- Reserves +€27,839
up €27,839 (+13.2%), from €211,241 to €239,079
of which Distributable reserves: +€27,839
- Advances received +€25,829
up €25,829 (+542%), from €4,764 to €30,593
- Other debts +€25,000
new in 2024: €25,000
- Tax, wage and social debts -€21,846
down €21,846 (-59.9%), from €36,476 to €14,630
of which Taxes: -€21,830
- Accrued charges and deferred income -€15,826
down €15,826 (-55.7%), from €28,400 to €12,574
- Gross operating margin -€82,235
down €82,235 (-48.7%), from €169,017 to €86,782
- Taxes -€27,882
down €27,882 (-56.5%), from €49,337 to €21,455
- Financial charges +€2,209
up €2,209 (+185%), from €1,196 to €3,405
- Other operating charges +€1,770
up €1,770 (+98.0%), from €1,807 to €3,577
Change in the result, 2023 to 2024
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 2023 and 2024 balance sheets and the 2024 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 | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €322,981 | €367,717 | +€44,736 | +13.9% |
| Fixed assets | 21/28 | €3,574 | €3,315 | -€259 | -7.2% |
| Tangible fixed assets | 22/27 | €3,574 | €3,315 | -€259 | -7.2% |
| Plant, machinery and equipment | 23 | €3,574 | €2,501 | -€1,073 | -30.0% |
| Furniture and vehicles | 24 | €0 | €814 | +€814 | |
| Current assets | 29/58 | €319,408 | €364,403 | +€44,995 | +14.1% |
| Amounts receivable after more than one year | 29 | €13,901 | €21,910 | +€8,009 | +57.6% |
| Other amounts receivable | 291 | €13,901 | €21,910 | +€8,009 | +57.6% |
| Stocks and contracts in progress | 3 | €55,201 | €42,205 | -€12,997 | -23.5% |
| Stocks | 30/36 | €55,201 | €42,205 | -€12,997 | -23.5% |
| Amounts receivable within one year | 40/41 | €75,557 | €129,640 | +€54,083 | +71.6% |
| Trade receivables | 40 | €75,557 | €129,640 | +€54,083 | +71.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €174,048 | €157,280 | -€16,768 | -9.6% |
| Deferred charges and accrued income | 490/1 | €701 | €13,368 | +€12,667 | +1,807% |
| Total equity and liabilities | 10/49 | €322,981 | €367,717 | +€44,736 | +13.9% |
| Equity | 10/15 | €245,011 | €272,850 | +€27,839 | +11.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €211,241 | €239,079 | +€27,839 | +13.2% |
| 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 | €209,381 | €237,219 | +€27,839 | +13.3% |
| Profit (loss) carried forward | 14 | €15,170 | €15,170 | = | 0.0% |
| Amounts payable | 17/49 | €77,970 | €94,868 | +€16,897 | +21.7% |
| Amounts payable within one year | 42/48 | €49,570 | €82,294 | +€32,724 | +66.0% |
| Trade debts | 44 | €8,331 | €12,071 | +€3,740 | +44.9% |
| Suppliers | 440/4 | €8,331 | €12,071 | +€3,740 | +44.9% |
| Advances received on contracts in progress | 46 | €4,764 | €30,593 | +€25,829 | +542% |
| Taxes, remuneration and social security | 45 | €36,476 | €14,630 | -€21,846 | -59.9% |
| Taxes | 450/3 | €35,635 | €13,805 | -€21,830 | -61.3% |
| Remuneration and social security | 454/9 | €841 | €825 | -€15 | -1.8% |
| Other amounts payable | 47/48 | - | €25,000 | +€25,000 | |
| Accrued charges and deferred income | 492/3 | €28,400 | €12,574 | -€15,826 | -55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,162 | €1,425 | +€262 | +22.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,807 | €3,577 | +€1,770 | +98.0% |
| Non-recurring operating charges | 66A | €0 | €2,092 | +€2,092 | |
| Gross operating margin | 9900 | €169,017 | €86,782 | -€82,235 | -48.7% |
| Operating profit (loss) | 9901 | €166,048 | €79,688 | -€86,360 | -52.0% |
| Financial income | 75/76B | €2,800 | €1,939 | -€861 | -30.8% |
| Recurring financial income | 75 | €2,800 | €1,939 | -€861 | -30.8% |
| Financial charges | 65/66B | €1,196 | €3,405 | +€2,209 | +185% |
| Recurring financial charges | 65 | €1,196 | €3,405 | +€2,209 | +185% |
| Profit (loss) for the period before taxes | 9903 | €167,652 | €78,222 | -€89,430 | -53.3% |
| Income taxes | 67/77 | €49,337 | €21,455 | -€27,882 | -56.5% |
| Profit (loss) for the period | 9904 | €118,315 | €56,767 | -€61,548 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €118,315 | €56,767 | -€61,548 | -52.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.