APHARGA: 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.
APHARGA
Largest movements
- Cash -€25,706
down €25,706 (-55.7%), from €46,163 to €20,457
mainly Contributions, distributions and other (-€31,000) and Tax, wage and social debts (-€419)
- Deferred charges and accrued income -€1,826
down €1,826 (-50.0%), from €3,653 to €1,826
- Profit (loss) carried forward -€27,551
down €27,551 (-65.6%), from €42,030 to €14,478
- Gross operating margin -€4,152
down €4,152 (-38.1%), from €10,900 to €6,748
- Depreciation -€595
no longer reported in 2025 (was €595)
- Taxes -€429
down €429 (-20.2%), from €2,119 to €1,690
- Financial charges -€253
down €253 (-15.3%), from €1,658 to €1,405
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 | €51,378 | €23,536 | -€27,842 | -54.2% |
| Current assets | 29/58 | €51,378 | €23,536 | -€27,842 | -54.2% |
| Amounts receivable within one year | 40/41 | €1,562 | €1,253 | -€309 | -19.8% |
| Trade receivables | 40 | €1,562 | €1,253 | -€309 | -19.8% |
| Cash at bank and in hand | 54/58 | €46,163 | €20,457 | -€25,706 | -55.7% |
| Deferred charges and accrued income | 490/1 | €3,653 | €1,826 | -€1,826 | -50.0% |
| Total equity and liabilities | 10/49 | €51,378 | €23,536 | -€27,842 | -54.2% |
| Equity | 10/15 | €44,030 | €16,478 | -€27,551 | -62.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,030 | €14,478 | -€27,551 | -65.6% |
| Amounts payable | 17/49 | €7,348 | €7,058 | -€290 | -4.0% |
| Amounts payable within one year | 42/48 | €7,348 | €7,058 | -€290 | -4.0% |
| Trade debts | 44 | €469 | €612 | +€143 | +30.4% |
| Suppliers | 440/4 | €469 | €612 | +€143 | +30.4% |
| Taxes, remuneration and social security | 45 | €6,057 | €5,638 | -€419 | -6.9% |
| Taxes | 450/3 | €6,057 | €5,638 | -€419 | -6.9% |
| Other amounts payable | 47/48 | €823 | €808 | -€14 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €595 | - | -€595 | |
| Other operating charges | 640/8 | €204 | €204 | +€1 | +0.3% |
| Gross operating margin | 9900 | €10,900 | €6,748 | -€4,152 | -38.1% |
| Operating profit (loss) | 9901 | €10,102 | €6,544 | -€3,558 | -35.2% |
| Financial charges | 65/66B | €1,658 | €1,405 | -€253 | -15.3% |
| Recurring financial charges | 65 | €1,658 | €1,405 | -€253 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €8,443 | €5,138 | -€3,305 | -39.1% |
| Income taxes | 67/77 | €2,119 | €1,690 | -€429 | -20.2% |
| Profit (loss) for the period | 9904 | €6,324 | €3,449 | -€2,876 | -45.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,324 | €3,449 | -€2,876 | -45.5% |
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.