APEX SERVICES: what changed
What changed
APEX SERVICES
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€121,452
2024 · €203,295-€81,843
Equity
€114,814
2024 · €93,362+€21,452
Cash
€177,399
2024 · €76,740+€100,660
Balance sheet total
€653,212
2024 · €770,294-€117,082
Largest movements
Assets
- Receivables within one year -€205,064
down €205,064 (-39.9%), from €513,832 to €308,767
of which Other amounts receivable: -€108,667
- Cash +€100,660
up €100,660 (+131%), from €76,740 to €177,399
mainly Receivables within one year (+€205,064) and Net result for the year (+€121,452)
- Tangible fixed assets -€26,075
down €26,075 (-19.7%), from €132,689 to €106,614
of which Furniture and vehicles: -€30,019
- Stocks and contracts +€11,955
up €11,955 (+34.4%), from €34,715 to €46,671
Equity and liabilities
- Other debts -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
- Short-term financial debts -€86,051
down €86,051 (-91.3%), from €94,260 to €8,209
- Tax, wage and social debts +€79,401
up €79,401 (+56.2%), from €141,259 to €220,660
of which Taxes: +€84,494
- Reserves +€21,452
up €21,452 (+651%), from €3,295 to €24,747
- Debts after one year -€14,204
down €14,204 (-31.4%), from €45,270 to €31,067
Income statement
- Gross operating margin -€123,446
down €123,446 (-17.3%), from €713,854 to €590,408
- Taxes -€26,624
down €26,624 (-37.7%), from €70,560 to €43,936
- Financial charges -€10,083
down €10,083 (-47.4%), from €21,262 to €11,179
- Staff costs -€7,631
down €7,631 (-2.1%), from €367,652 to €360,021
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€203,295
Gross operating margin
-€123,446
Staff costs
+€7,631
Depreciation
-€978
Other operating charges
-€596
Other operating items
-€1,213
Financial income
+€52
Financial charges
+€10,083
Taxes
+€26,624
Result 2025
€121,452
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€336,767
Investment
-€28,375
Financing
-€207,732
Cash 2024
€76,740
From operations (derived)
+€336,767
Net result for the year
+€121,452
Depreciation
+€49,590
Stocks and contracts
-€11,955
Receivables within one year
+€205,064
Deferred charges and accrued income
+€3,417
Trade debts
-€12,699
Tax, wage and social debts
+€79,401
Other debts
-€100,000
Accrued charges and deferred income
+€2,496
Investment (derived)
-€28,375
Investment in fixed assets (net)
-€28,375
Financing
-€207,732
Debts after one year
-€14,204
Current portion of long-term debt
-€7,478
Short-term financial debts
-€86,051
Contributions, distributions and other
-€100,000
Cash 2025
€177,399
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €770,294 | €653,212 | -€117,082 | -15.2% |
| Fixed assets | 21/28 | €134,452 | €113,237 | -€21,215 | -15.8% |
| Intangible fixed assets | 21 | €1,763 | €1,223 | -€540 | -30.6% |
| Tangible fixed assets | 22/27 | €132,689 | €106,614 | -€26,075 | -19.7% |
| Plant, machinery and equipment | 23 | €19,444 | €31,442 | +€11,997 | +61.7% |
| Furniture and vehicles | 24 | €57,149 | €27,130 | -€30,019 | -52.5% |
| Leasing and similar rights | 25 | €55,123 | €38,696 | -€16,427 | -29.8% |
| Other tangible fixed assets | 26 | €973 | €9,347 | +€8,374 | +861% |
| Financial fixed assets | 28 | - | €5,400 | +€5,400 | |
| Current assets | 29/58 | €635,842 | €539,976 | -€95,867 | -15.1% |
| Stocks and contracts in progress | 3 | €34,715 | €46,671 | +€11,955 | +34.4% |
| Stocks | 30/36 | €34,715 | €46,671 | +€11,955 | +34.4% |
| Amounts receivable within one year | 40/41 | €513,832 | €308,767 | -€205,064 | -39.9% |
| Trade receivables | 40 | €318,690 | €222,293 | -€96,398 | -30.2% |
| Other amounts receivable | 41 | €195,141 | €86,475 | -€108,667 | -55.7% |
| Cash at bank and in hand | 54/58 | €76,740 | €177,399 | +€100,660 | +131% |
| Deferred charges and accrued income | 490/1 | €10,556 | €7,139 | -€3,417 | -32.4% |
| Total equity and liabilities | 10/49 | €770,294 | €653,212 | -€117,082 | -15.2% |
| Equity | 10/15 | €93,362 | €114,814 | +€21,452 | +23.0% |
| Contributions | 10/11 | €90,067 | €90,067 | = | 0.0% |
| Reserves | 13 | €3,295 | €24,747 | +€21,452 | +651% |
| Distributable reserves | 133 | €3,295 | €24,747 | +€21,452 | +651% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €676,932 | €538,398 | -€138,534 | -20.5% |
| Amounts payable after more than one year | 17 | €45,270 | €31,067 | -€14,204 | -31.4% |
| Financial debts | 170/4 | €45,270 | €31,067 | -€14,204 | -31.4% |
| Amounts payable within one year | 42/48 | €631,493 | €504,667 | -€126,826 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €37,035 | €29,556 | -€7,478 | -20.2% |
| Financial debts | 43 | €94,260 | €8,209 | -€86,051 | -91.3% |
| Credit institutions | 430/8 | €94,260 | €8,209 | -€86,051 | -91.3% |
| Trade debts | 44 | €158,940 | €146,242 | -€12,699 | -8.0% |
| Suppliers | 440/4 | €158,940 | €146,242 | -€12,699 | -8.0% |
| Taxes, remuneration and social security | 45 | €141,259 | €220,660 | +€79,401 | +56.2% |
| Taxes | 450/3 | €79,985 | €164,478 | +€84,494 | +106% |
| Remuneration and social security | 454/9 | €61,274 | €56,181 | -€5,093 | -8.3% |
| Other amounts payable | 47/48 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Accrued charges and deferred income | 492/3 | €169 | €2,665 | +€2,496 | +1,480% |
| Remuneration, social security and pensions | 62 | €367,652 | €360,021 | -€7,631 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,612 | €49,590 | +€978 | +2.0% |
| Other operating charges | 640/8 | €2,808 | €3,405 | +€596 | +21.2% |
| Non-recurring operating charges | 66A | - | €1,213 | +€1,213 | |
| Gross operating margin | 9900 | €713,854 | €590,408 | -€123,446 | -17.3% |
| Operating profit (loss) | 9901 | €294,781 | €176,180 | -€118,602 | -40.2% |
| Financial income | 75/76B | €336 | €387 | +€52 | +15.5% |
| Recurring financial income | 75 | €336 | €387 | +€52 | +15.5% |
| Financial charges | 65/66B | €21,262 | €11,179 | -€10,083 | -47.4% |
| Recurring financial charges | 65 | €21,262 | €11,179 | -€10,083 | -47.4% |
| Profit (loss) for the period before taxes | 9903 | €273,855 | €165,388 | -€108,467 | -39.6% |
| Income taxes | 67/77 | €70,560 | €43,936 | -€26,624 | -37.7% |
| Profit (loss) for the period | 9904 | €203,295 | €121,452 | -€81,843 | -40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €203,295 | €121,452 | -€81,843 | -40.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.