APHOLD: 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.
APHOLD
Largest movements
- Cash -€6,975
down €6,975 (-42.4%), from €16,435 to €9,460
mainly Contributions, distributions and other (-€110,000) and Other debts (-€19,025)
- Other debts -€19,025
down €19,025 (-8.2%), from €232,691 to €213,666
- Reserves +€6,516
up €6,516 (+25.8%), from €25,253 to €31,769
of which Distributable reserves: +€6,516
- Tax, wage and social debts +€5,152
new in 2025: €5,152
- Financial charges -€799
down €799 (-24.4%), from €3,269 to €2,470
- Taxes +€652
new in 2025: €652
- Gross operating margin -€384
down €384 (-91.1%), from €422 to €38
- Other operating charges +€12
up €12 (+3.2%), from €387 to €400
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 | €276,997 | €270,022 | -€6,975 | -2.5% |
| Fixed assets | 21/28 | €260,562 | €260,562 | = | 0.0% |
| Financial fixed assets | 28 | €260,562 | €260,562 | = | 0.0% |
| Current assets | 29/58 | €16,435 | €9,460 | -€6,975 | -42.4% |
| Cash at bank and in hand | 54/58 | €16,435 | €9,460 | -€6,975 | -42.4% |
| Total equity and liabilities | 10/49 | €276,997 | €270,022 | -€6,975 | -2.5% |
| Equity | 10/15 | €43,853 | €50,369 | +€6,516 | +14.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,253 | €31,769 | +€6,516 | +25.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €23,393 | €29,909 | +€6,516 | +27.9% |
| Amounts payable | 17/49 | €233,144 | €219,653 | -€13,491 | -5.8% |
| Amounts payable within one year | 42/48 | €232,806 | €219,313 | -€13,493 | -5.8% |
| Trade debts | 44 | €115 | €496 | +€381 | +330.8% |
| Suppliers | 440/4 | €115 | €496 | +€381 | +330.8% |
| Taxes, remuneration and social security | 45 | - | €5,152 | +€5,152 | |
| Taxes | 450/3 | - | €5,152 | +€5,152 | |
| Other amounts payable | 47/48 | €232,691 | €213,666 | -€19,025 | -8.2% |
| Accrued charges and deferred income | 492/3 | €338 | €339 | +€2 | +0.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €422 | €38 | -€384 | -91.1% |
| Operating profit (loss) | 9901 | €35 | -€362 | -€397 | |
| Financial income | 75/76B | €120,000 | €120,000 | = | 0.0% |
| Recurring financial income | 75 | €120,000 | €120,000 | = | 0.0% |
| Financial charges | 65/66B | €3,269 | €2,470 | -€799 | -24.4% |
| Recurring financial charges | 65 | €3,269 | €2,470 | -€799 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €116,765 | €117,168 | +€403 | +0.3% |
| Income taxes | 67/77 | - | €652 | +€652 | |
| Profit (loss) for the period | 9904 | €116,765 | €116,516 | -€249 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €116,765 | €116,516 | -€249 | -0.2% |
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 7 October 2026 via checked.be.