Apex Engineering: 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 Engineering
Largest movements
- Cash +€23,821
up €23,821 (+42.4%), from €56,190 to €80,011
mainly Net result for the year (+€26,905) and Other debts (+€18,744)
- Receivables within one year +€18,045
up €18,045 (+95.9%), from €18,807 to €36,852
of which Trade receivables: +€18,053
- Tangible fixed assets -€12,873
down €12,873 (-3.2%), from €405,417 to €392,544
of which Land and buildings: -€12,719
- Debts after one year -€20,290
down €20,290 (-8.6%), from €235,985 to €215,695
- Other debts +€18,744
up €18,744 (+873.0%), from €2,147 to €20,891
- Trade debts +€16,847
up €16,847 (+334.4%), from €5,038 to €21,885
- Tax, wage and social debts +€8,238
up €8,238 (+606.1%), from €1,359 to €9,597
of which Taxes: +€5,918
- Reserves +€6,905
up €6,905 (+3.1%), from €222,059 to €228,964
- Gross operating margin -€16,665
down €16,665 (-20.6%), from €80,809 to €64,143
- Taxes -€3,619
down €3,619 (-20.8%), from €17,399 to €13,781
- Financial charges +€3,161
up €3,161 (+44.4%), from €7,119 to €10,280
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 | €506,529 | €535,921 | +€29,392 | +5.8% |
| Fixed assets | 21/28 | €405,417 | €392,544 | -€12,873 | -3.2% |
| Tangible fixed assets | 22/27 | €405,417 | €392,544 | -€12,873 | -3.2% |
| Land and buildings | 22 | €405,263 | €392,544 | -€12,719 | -3.1% |
| Plant, machinery and equipment | 23 | €154 | €0 | -€154 | -100.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €101,112 | €143,377 | +€42,265 | +41.8% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Trade receivables | 290 | €20,000 | €20,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,110 | €1,882 | -€228 | -10.8% |
| Stocks | 30/36 | €2,110 | €1,882 | -€228 | -10.8% |
| Amounts receivable within one year | 40/41 | €18,807 | €36,852 | +€18,045 | +95.9% |
| Trade receivables | 40 | €18,799 | €36,852 | +€18,053 | +96.0% |
| Other amounts receivable | 41 | €8 | - | -€8 | |
| Cash at bank and in hand | 54/58 | €56,190 | €80,011 | +€23,821 | +42.4% |
| Deferred charges and accrued income | 490/1 | €4,006 | €4,632 | +€627 | +15.6% |
| Total equity and liabilities | 10/49 | €506,529 | €535,921 | +€29,392 | +5.8% |
| Equity | 10/15 | €240,659 | €247,564 | +€6,905 | +2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €222,059 | €228,964 | +€6,905 | +3.1% |
| Distributable reserves | 133 | €222,059 | €228,964 | +€6,905 | +3.1% |
| Amounts payable | 17/49 | €265,870 | €288,357 | +€22,487 | +8.5% |
| Amounts payable after more than one year | 17 | €235,985 | €215,695 | -€20,290 | -8.6% |
| Financial debts | 170/4 | €235,985 | €215,695 | -€20,290 | -8.6% |
| Amounts payable within one year | 42/48 | €28,185 | €72,663 | +€44,477 | +157.8% |
| Current portion of amounts payable after more than one year | 42 | €19,642 | €20,290 | +€648 | +3.3% |
| Trade debts | 44 | €5,038 | €21,885 | +€16,847 | +334.4% |
| Suppliers | 440/4 | €5,038 | €21,885 | +€16,847 | +334.4% |
| Taxes, remuneration and social security | 45 | €1,359 | €9,597 | +€8,238 | +606.1% |
| Taxes | 450/3 | €1,359 | €7,277 | +€5,918 | +435.4% |
| Remuneration and social security | 454/9 | - | €2,320 | +€2,320 | |
| Other amounts payable | 47/48 | €2,147 | €20,891 | +€18,744 | +873.0% |
| Accrued charges and deferred income | 492/3 | €1,700 | - | -€1,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,137 | €12,873 | -€264 | -2.0% |
| Other operating charges | 640/8 | €1,938 | €1,753 | -€185 | -9.6% |
| Gross operating margin | 9900 | €80,809 | €64,143 | -€16,665 | -20.6% |
| Operating profit (loss) | 9901 | €65,733 | €49,517 | -€16,216 | -24.7% |
| Financial income | 75/76B | €1,926 | €1,448 | -€478 | -24.8% |
| Recurring financial income | 75 | €1,926 | €1,448 | -€478 | -24.8% |
| Financial charges | 65/66B | €7,119 | €10,280 | +€3,161 | +44.4% |
| Recurring financial charges | 65 | €7,119 | €10,280 | +€3,161 | +44.4% |
| Profit (loss) for the period before taxes | 9903 | €60,540 | €40,685 | -€19,855 | -32.8% |
| Income taxes | 67/77 | €17,399 | €13,781 | -€3,619 | -20.8% |
| Profit (loss) for the period | 9904 | €43,141 | €26,905 | -€16,236 | -37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €43,141 | €26,905 | -€16,236 | -37.6% |
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 29 September 2026 via checked.be.