APEXS: 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.
APEXS
Largest movements
- Receivables after one year -€38,000
down €38,000 (-79.2%), from €48,000 to €10,000
- Cash +€35,801
up €35,801 (+652.9%), from €5,483 to €41,283
mainly Receivables after one year (+€38,000) and Depreciation (+€13,716)
- Current investments +€18,200
up €18,200 (+67.4%), from €27,000 to €45,200
- Tangible fixed assets -€13,716
down €13,716 (-27.0%), from €50,864 to €37,148
of which Furniture and vehicles: -€9,069
- Receivables within one year -€8,004
down €8,004 (-100.0%), from €8,004 to €0
of which Other amounts receivable: -€4,478
- Profit (loss) carried forward +€8,238
up €8,238 (+98.3%), from -€8,382 to -€144
- Debts after one year -€7,959
down €7,959 (-31.1%), from €25,629 to €17,670
- Current portion of long-term debt -€6,884
down €6,884 (-41.6%), from €16,530 to €9,647
- Tax, wage and social debts +€3,333
up €3,333 (+107.4%), from €3,102 to €6,436
- Trade debts -€1,907
down €1,907 (-39.7%), from €4,805 to €2,898
- Gross operating margin +€15,292
up €15,292 (+114.0%), from €13,420 to €28,712
- Depreciation -€3,801
down €3,801 (-21.7%), from €17,517 to €13,716
- Taxes +€3,386
up €3,386 (+177.1%), from €1,912 to €5,298
- Financial income +€522
up €522 (+282.5%), from €185 to €707
- Financial charges -€403
down €403 (-19.0%), from €2,124 to €1,721
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 | €142,620 | €138,734 | -€3,886 | -2.7% |
| Fixed assets | 21/28 | €53,364 | €39,648 | -€13,716 | -25.7% |
| Tangible fixed assets | 22/27 | €50,864 | €37,148 | -€13,716 | -27.0% |
| Land and buildings | 22 | €40,937 | €36,290 | -€4,647 | -11.4% |
| Furniture and vehicles | 24 | €9,927 | €858 | -€9,069 | -91.4% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €89,256 | €99,087 | +€9,831 | +11.0% |
| Amounts receivable after more than one year | 29 | €48,000 | €10,000 | -€38,000 | -79.2% |
| Other amounts receivable | 291 | €48,000 | €10,000 | -€38,000 | -79.2% |
| Amounts receivable within one year | 40/41 | €8,004 | €0 | -€8,004 | -100.0% |
| Trade receivables | 40 | €3,526 | €0 | -€3,526 | -100.0% |
| Other amounts receivable | 41 | €4,478 | €0 | -€4,478 | -100.0% |
| Current investments | 50/53 | €27,000 | €45,200 | +€18,200 | +67.4% |
| Cash at bank and in hand | 54/58 | €5,483 | €41,283 | +€35,801 | +652.9% |
| Deferred charges and accrued income | 490/1 | €769 | €2,603 | +€1,834 | +238.5% |
| Total equity and liabilities | 10/49 | €142,620 | €138,734 | -€3,886 | -2.7% |
| Equity | 10/15 | €91,545 | €99,782 | +€8,238 | +9.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €93,726 | €93,726 | = | 0.0% |
| Distributable reserves | 133 | €93,726 | €93,726 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,382 | -€144 | +€8,238 | +98.3% |
| Amounts payable | 17/49 | €51,075 | €38,952 | -€12,123 | -23.7% |
| Amounts payable after more than one year | 17 | €25,629 | €17,670 | -€7,959 | -31.1% |
| Financial debts | 170/4 | €25,629 | €17,670 | -€7,959 | -31.1% |
| Amounts payable within one year | 42/48 | €25,410 | €20,183 | -€5,227 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €16,530 | €9,647 | -€6,884 | -41.6% |
| Trade debts | 44 | €4,805 | €2,898 | -€1,907 | -39.7% |
| Suppliers | 440/4 | €4,805 | €2,898 | -€1,907 | -39.7% |
| Taxes, remuneration and social security | 45 | €3,102 | €6,436 | +€3,333 | +107.4% |
| Taxes | 450/3 | €3,102 | €6,436 | +€3,333 | +107.4% |
| Other amounts payable | 47/48 | €972 | €1,203 | +€230 | +23.7% |
| Accrued charges and deferred income | 492/3 | €35 | €1,098 | +€1,063 | +3009.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,517 | €13,716 | -€3,801 | -21.7% |
| Other operating charges | 640/8 | €433 | €446 | +€12 | +2.9% |
| Gross operating margin | 9900 | €13,420 | €28,712 | +€15,292 | +114.0% |
| Operating profit (loss) | 9901 | -€4,531 | €14,550 | +€19,080 | |
| Financial income | 75/76B | €185 | €707 | +€522 | +282.5% |
| Recurring financial income | 75 | €185 | €707 | +€522 | +282.5% |
| Financial charges | 65/66B | €2,124 | €1,721 | -€403 | -19.0% |
| Recurring financial charges | 65 | €2,124 | €1,721 | -€403 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,470 | €13,536 | +€20,006 | |
| Income taxes | 67/77 | €1,912 | €5,298 | +€3,386 | +177.1% |
| Profit (loss) for the period | 9904 | -€8,382 | €8,238 | +€16,620 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,382 | €8,238 | +€16,620 |
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 4 October 2026 via checked.be.