APEX-Cmp: 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.
APEX-Cmp
Largest movements
- Cash -€132,008
down €132,008 (-46.5%), from €283,949 to €151,941
mainly Receivables within one year (-€128,271) and Tax, wage and social debts (-€9,671)
- Receivables within one year +€128,271
up €128,271 (+21.6%), from €594,138 to €722,409
of which Trade receivables: +€122,692
- Tax, wage and social debts -€9,671
down €9,671 (-10.9%), from €89,094 to €79,423
- Financial income +€9,725
up €9,725 (+1284.0%), from €757 to €10,482
- Other operating charges +€5,986
up €5,986 (+545.9%), from €1,097 to €7,082
- Gross operating margin +€3,489
up €3,489 (+60.3%), from €5,784 to €9,272
- Taxes +€2,420
up €2,420 (+216.4%), from €1,118 to €3,538
- Financial charges +€1,126
up €1,126 (+395.0%), from €285 to €1,411
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 | €895,041 | €894,210 | -€831 | -0.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €12,620 | €9,684 | -€2,936 | -23.3% |
| Intangible fixed assets | 21 | €8,103 | €6,023 | -€2,080 | -25.7% |
| Tangible fixed assets | 22/27 | €4,517 | €3,661 | -€856 | -18.9% |
| Furniture and vehicles | 24 | €4,517 | €3,661 | -€856 | -18.9% |
| Current assets | 29/58 | €882,421 | €884,526 | +€2,105 | +0.2% |
| Amounts receivable within one year | 40/41 | €594,138 | €722,409 | +€128,271 | +21.6% |
| Trade receivables | 40 | €593,907 | €716,599 | +€122,692 | +20.7% |
| Other amounts receivable | 41 | €230 | €5,809 | +€5,579 | +2422.9% |
| Cash at bank and in hand | 54/58 | €283,949 | €151,941 | -€132,008 | -46.5% |
| Deferred charges and accrued income | 490/1 | €4,334 | €10,176 | +€5,841 | +134.8% |
| Total equity and liabilities | 10/49 | €895,041 | €894,210 | -€831 | -0.1% |
| Equity | 10/15 | €12,250 | €15,122 | +€2,873 | +23.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€748 | €2,874 | +€3,623 | |
| Investment grants | 15 | €2,998 | €2,248 | -€750 | -25.0% |
| Provisions and deferred taxes | 16 | €999 | €749 | -€250 | -25.0% |
| Deferred taxes | 168 | €999 | €749 | -€250 | -25.0% |
| Amounts payable | 17/49 | €881,792 | €878,338 | -€3,454 | -0.4% |
| Amounts payable within one year | 42/48 | €881,792 | €878,338 | -€3,454 | -0.4% |
| Trade debts | 44 | €792,698 | €798,915 | +€6,217 | +0.8% |
| Suppliers | 440/4 | €792,698 | €798,915 | +€6,217 | +0.8% |
| Taxes, remuneration and social security | 45 | €89,094 | €79,423 | -€9,671 | -10.9% |
| Taxes | 450/3 | €89,094 | €79,423 | -€9,671 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,040 | €4,100 | -€940 | -18.7% |
| Other operating charges | 640/8 | €1,097 | €7,082 | +€5,986 | +545.9% |
| Gross operating margin | 9900 | €5,784 | €9,272 | +€3,489 | +60.3% |
| Operating profit (loss) | 9901 | -€353 | -€1,910 | -€1,557 | -440.7% |
| Financial income | 75/76B | €757 | €10,482 | +€9,725 | +1284.0% |
| Recurring financial income | 75 | €757 | €10,482 | +€9,725 | +1284.0% |
| Financial charges | 65/66B | €285 | €1,411 | +€1,126 | +395.0% |
| Recurring financial charges | 65 | €285 | €1,411 | +€1,126 | +395.0% |
| Profit (loss) for the period before taxes | 9903 | €119 | €7,161 | +€7,042 | +5914.5% |
| Transfer from deferred taxes | 780 | €251 | - | -€251 | |
| Income taxes | 67/77 | €1,118 | €3,538 | +€2,420 | +216.4% |
| Profit (loss) for the period | 9904 | -€748 | €3,623 | +€4,371 | |
| Profit (loss) for the period to be appropriated | 9905 | -€748 | €3,623 | +€4,371 |
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 3 October 2026 via checked.be.