APF INVEST: 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.
APF INVEST
Largest movements
- Cash +€314
up €314 (+15.8%), from €1,993 to €2,307
mainly Net result for the year (+€233,136) and Trade debts (+€2,875)
- Profit (loss) carried forward +€233,136
up €233,136 (+7.1%), from -€3.3m to -€3.0m
- Debts after one year -€212,190
no longer reported in 2025 (was €212,190)
- Accrued charges and deferred income -€19,336
no longer reported in 2025 (was €19,336)
- Other debts -€4,171
down €4,171 (-12.3%), from €33,778 to €29,607
- Trade debts +€2,875
up €2,875 (+742%), from €387 to €3,263
- Financial income +€502,450
new in 2025: €502,450
of which Financial income: +€480,614
- Gross operating margin -€27,626
down €27,626 (-1,307%), from -€2,114 to -€29,740
- Financial charges -€1,625
down €1,625 (-90.9%), from €1,787 to €162
- Other operating charges +€1,024
up €1,024 (+172%), from €595 to €1,619
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 | €1,993 | €2,307 | +€314 | +15.8% |
| Current assets | 29/58 | €1,993 | €2,307 | +€314 | +15.8% |
| Cash at bank and in hand | 54/58 | €1,993 | €2,307 | +€314 | +15.8% |
| Total equity and liabilities | 10/49 | €1,993 | €2,307 | +€314 | +15.8% |
| Equity | 10/15 | -€263,699 | -€30,563 | +€233,136 | +88.4% |
| Contributions | 10/11 | €2,987,500 | €2,987,500 | = | 0.0% |
| Capital | 10 | €2,987,500 | €2,987,500 | = | 0.0% |
| Issued capital | 100 | €2,987,500 | €2,987,500 | = | 0.0% |
| Reserves | 13 | €16,276 | €16,276 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,276 | €16,276 | = | 0.0% |
| Legal reserve | 130 | €16,276 | €16,276 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,267,474 | -€3,034,339 | +€233,136 | +7.1% |
| Amounts payable | 17/49 | €265,691 | €32,870 | -€232,821 | -87.6% |
| Amounts payable after more than one year | 17 | €212,190 | - | -€212,190 | |
| Financial debts | 170/4 | €212,190 | - | -€212,190 | |
| Amounts payable within one year | 42/48 | €34,166 | €32,870 | -€1,296 | -3.8% |
| Trade debts | 44 | €387 | €3,263 | +€2,875 | +742% |
| Suppliers | 440/4 | €387 | €3,263 | +€2,875 | +742% |
| Other amounts payable | 47/48 | €33,778 | €29,607 | -€4,171 | -12.3% |
| Accrued charges and deferred income | 492/3 | €19,336 | - | -€19,336 | |
| Other operating charges | 640/8 | €595 | €1,619 | +€1,024 | +172% |
| Non-recurring operating charges | 66A | - | €237,793 | +€237,793 | |
| Gross operating margin | 9900 | -€2,114 | -€29,740 | -€27,626 | -1,307% |
| Operating profit (loss) | 9901 | -€2,709 | -€269,152 | -€266,443 | -9,835% |
| Financial income | 75/76B | - | €502,450 | +€502,450 | |
| Recurring financial income | 75 | - | €480,614 | +€480,614 | |
| Non-recurring financial income | 76B | - | €21,836 | +€21,836 | |
| Financial charges | 65/66B | €1,787 | €162 | -€1,625 | -90.9% |
| Recurring financial charges | 65 | €1,787 | €162 | -€1,625 | -90.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,497 | €233,136 | +€237,632 | |
| Profit (loss) for the period | 9904 | -€4,497 | €233,136 | +€237,632 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,497 | €233,136 | +€237,632 |
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 23 October 2026 via checked.be.