Apex-Groep: what changed
Two financial 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-Groep
Largest movements
- Cash -€83,043
down €83,043 (-56.2%), from €147,893 to €64,850
mainly Contributions, distributions and other (-€209,508) and Debts after one year (-€128,476)
- Tangible fixed assets -€54,414
down €54,414 (-4.8%), from €1.1m to €1.1m
of which Land and buildings: -€67,633
- Receivables within one year +€44,436
up €44,436 (+1,098%), from €4,048 to €48,484
of which Trade receivables: +€45,100
- Reserves -€209,508
down €209,508 (-100%), from €209,508 to €0
- Other debts +€175,967
up €175,967 (+3,240%), from €5,432 to €181,398
- Debts after one year -€128,476
down €128,476 (-12.6%), from €1.0m to €894,766
- Profit (loss) carried forward +€84,241
up €84,241, from €0 to €84,241
- Staff costs +€62,581
up €62,581 (+349%), from €17,920 to €80,500
- Gross operating margin +€46,455
up €46,455 (+21.2%), from €218,810 to €265,265
- Taxes -€4,522
down €4,522 (-17.9%), from €25,204 to €20,681
- Financial charges -€3,466
down €3,466 (-14.8%), from €23,391 to €19,926
- Financial income +€2,975
up €2,975 (+12.8%), from €23,171 to €26,146
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.
Derived cash bridge
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 | €1,448,009 | €1,361,257 | -€86,752 | -6.0% |
| Fixed assets | 21/28 | €1,151,491 | €1,089,540 | -€61,951 | -5.4% |
| Intangible fixed assets | 21 | €21,718 | €14,180 | -€7,537 | -34.7% |
| Tangible fixed assets | 22/27 | €1,129,773 | €1,075,359 | -€54,414 | -4.8% |
| Land and buildings | 22 | €1,108,385 | €1,040,752 | -€67,633 | -6.1% |
| Plant, machinery and equipment | 23 | €21,389 | €34,608 | +€13,219 | +61.8% |
| Current assets | 29/58 | €296,518 | €271,717 | -€24,801 | -8.4% |
| Stocks and contracts in progress | 3 | €144,024 | €158,383 | +€14,359 | +10.0% |
| Stocks | 30/36 | €144,024 | €158,383 | +€14,359 | +10.0% |
| Amounts receivable within one year | 40/41 | €4,048 | €48,484 | +€44,436 | +1,098% |
| Trade receivables | 40 | €3,384 | €48,484 | +€45,100 | +1,333% |
| Other amounts receivable | 41 | €664 | €0 | -€664 | -100% |
| Cash at bank and in hand | 54/58 | €147,893 | €64,850 | -€83,043 | -56.2% |
| Deferred charges and accrued income | 490/1 | €553 | €0 | -€553 | -100% |
| Total equity and liabilities | 10/49 | €1,448,009 | €1,361,257 | -€86,752 | -6.0% |
| Equity | 10/15 | €214,508 | €89,241 | -€125,267 | -58.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €209,508 | €0 | -€209,508 | -100% |
| Distributable reserves | 133 | €209,508 | €0 | -€209,508 | -100% |
| Profit (loss) carried forward | 14 | €0 | €84,241 | +€84,241 | |
| Amounts payable | 17/49 | €1,233,501 | €1,272,016 | +€38,515 | +3.1% |
| Amounts payable after more than one year | 17 | €1,023,241 | €894,766 | -€128,476 | -12.6% |
| Financial debts | 170/4 | €1,023,241 | €894,766 | -€128,476 | -12.6% |
| Amounts payable within one year | 42/48 | €209,617 | €377,250 | +€167,634 | +80.0% |
| Current portion of amounts payable after more than one year | 42 | €93,926 | €83,604 | -€10,322 | -11.0% |
| Trade debts | 44 | €77,167 | €68,852 | -€8,315 | -10.8% |
| Suppliers | 440/4 | €76,572 | €68,852 | -€7,720 | -10.1% |
| Bills of exchange payable | 441 | €595 | €0 | -€595 | -100% |
| Taxes, remuneration and social security | 45 | €33,092 | €43,396 | +€10,304 | +31.1% |
| Taxes | 450/3 | €31,763 | €36,933 | +€5,171 | +16.3% |
| Remuneration and social security | 454/9 | €1,329 | €6,463 | +€5,133 | +386% |
| Other amounts payable | 47/48 | €5,432 | €181,398 | +€175,967 | +3,240% |
| Accrued charges and deferred income | 492/3 | €643 | €0 | -€643 | -100% |
| Remuneration, social security and pensions | 62 | €17,920 | €80,500 | +€62,581 | +349% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,479 | €80,108 | +€628 | +0.8% |
| Other operating charges | 640/8 | €5,719 | €5,955 | +€236 | +4.1% |
| Gross operating margin | 9900 | €218,810 | €265,265 | +€46,455 | +21.2% |
| Operating profit (loss) | 9901 | €115,692 | €98,702 | -€16,990 | -14.7% |
| Financial income | 75/76B | €23,171 | €26,146 | +€2,975 | +12.8% |
| Recurring financial income | 75 | €23,171 | €26,146 | +€2,975 | +12.8% |
| Financial charges | 65/66B | €23,391 | €19,926 | -€3,466 | -14.8% |
| Recurring financial charges | 65 | €23,391 | €19,926 | -€3,466 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €115,472 | €104,922 | -€10,549 | -9.1% |
| Income taxes | 67/77 | €25,204 | €20,681 | -€4,522 | -17.9% |
| Profit (loss) for the period | 9904 | €90,268 | €84,241 | -€6,027 | -6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €90,268 | €84,241 | -€6,027 | -6.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.