API F & I: 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.
What changed
API F & I
NACE 18.130, Pre-press and pre-media services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€236,473
2024 · €183,548+€52,925
Equity
€1.4m
2024 · €1.2m+€217,414
Cash
€22,638
2024 · €56,357-€33,720
Balance sheet total
€3.3m
2024 · €3.6m-€292,926
Largest movements
Assets
- Tangible fixed assets -€224,831
down €224,831 (-8.1%), from €2.8m to €2.6m
of which Plant, machinery and equipment: -€198,635
- Receivables within one year -€46,142
down €46,142 (-9.7%), from €474,019 to €427,877
of which Other amounts receivable: -€27,021
Equity and liabilities
- Debts after one year -€385,992
down €385,992 (-21.8%), from €1.8m to €1.4m
- Reserves +€236,473
up €236,473 (+32.2%), from €734,214 to €970,686
of which Distributable reserves: +€236,473
- Other debts -€95,917
down €95,917 (-66.0%), from €145,266 to €49,349
- Current portion of long-term debt -€52,212
down €52,212 (-15.6%), from €335,754 to €283,542
Income statement
- Gross operating margin +€184,292
up €184,292 (+17.7%), from €1.0m to €1.2m
- Staff costs +€73,949
up €73,949 (+15.2%), from €487,983 to €561,932
- Taxes +€36,349
up €36,349 (+52.3%), from €69,519 to €105,868
- Other operating charges +€15,410
up €15,410 (+62.0%), from €24,850 to €40,260
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.
Result 2024
€183,548
Gross operating margin
+€184,292
Staff costs
-€73,949
Depreciation
+€719
Other operating charges
-€15,410
Other operating items
-€232
Financial income
-€2,827
Financial charges
-€2,695
Taxes
-€36,349
Deferred taxes and other
-€625
Result 2025
€236,473
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.
From operations
+€465,162
Investment
-€41,620
Financing
-€457,262
Cash 2024
€56,357
From operations (derived)
+€465,162
Net result for the year
+€236,473
Depreciation
+€267,707
Stocks and contracts
+€6,462
Receivables within one year
+€46,142
Deferred charges and accrued income
-€19,485
Trade debts
+€2
Tax, wage and social debts
+€23,778
Other debts
-€95,917
Investment (derived)
-€41,620
Investment in fixed assets (net)
-€41,620
Financing
-€457,262
Debts after one year
-€385,992
Current portion of long-term debt
-€52,212
Contributions, distributions and other
-€19,059
Cash 2025
€22,638
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,595,920 | €3,302,994 | -€292,926 | -8.1% |
| Fixed assets | 21/28 | €2,786,087 | €2,560,000 | -€226,087 | -8.1% |
| Intangible fixed assets | 21 | €9,852 | €6,196 | -€3,657 | -37.1% |
| Tangible fixed assets | 22/27 | €2,776,134 | €2,551,304 | -€224,831 | -8.1% |
| Land and buildings | 22 | €446,370 | €397,277 | -€49,094 | -11.0% |
| Plant, machinery and equipment | 23 | €2,329,068 | €2,130,433 | -€198,635 | -8.5% |
| Furniture and vehicles | 24 | €696 | €23,594 | +€22,898 | +3290.3% |
| Financial fixed assets | 28 | €100 | €2,500 | +€2,400 | +2400.0% |
| Current assets | 29/58 | €809,833 | €742,994 | -€66,839 | -8.3% |
| Stocks and contracts in progress | 3 | €276,777 | €270,314 | -€6,462 | -2.3% |
| Stocks | 30/36 | €276,777 | €270,314 | -€6,462 | -2.3% |
| Amounts receivable within one year | 40/41 | €474,019 | €427,877 | -€46,142 | -9.7% |
| Trade receivables | 40 | €407,911 | €388,790 | -€19,121 | -4.7% |
| Other amounts receivable | 41 | €66,108 | €39,087 | -€27,021 | -40.9% |
| Cash at bank and in hand | 54/58 | €56,357 | €22,638 | -€33,720 | -59.8% |
| Deferred charges and accrued income | 490/1 | €2,680 | €22,165 | +€19,485 | +727.0% |
| Total equity and liabilities | 10/49 | €3,595,920 | €3,302,994 | -€292,926 | -8.1% |
| Equity | 10/15 | €1,175,376 | €1,392,790 | +€217,414 | +18.5% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €734,214 | €970,686 | +€236,473 | +32.2% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €714,214 | €950,686 | +€236,473 | +33.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €241,163 | €222,104 | -€19,059 | -7.9% |
| Provisions and deferred taxes | 16 | €7,820 | €7,820 | = | 0.0% |
| Deferred taxes | 168 | €7,820 | €7,820 | = | 0.0% |
| Amounts payable | 17/49 | €2,412,724 | €1,902,384 | -€510,340 | -21.2% |
| Amounts payable after more than one year | 17 | €1,771,749 | €1,385,758 | -€385,992 | -21.8% |
| Trade debts | 175 | €1,771,749 | €1,385,758 | -€385,992 | -21.8% |
| Amounts payable within one year | 42/48 | €640,975 | €516,626 | -€124,349 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €335,754 | €283,542 | -€52,212 | -15.6% |
| Trade debts | 44 | €77,817 | €77,819 | +€2 | 0.0% |
| Suppliers | 440/4 | €77,817 | €77,819 | +€2 | 0.0% |
| Taxes, remuneration and social security | 45 | €82,139 | €105,917 | +€23,778 | +28.9% |
| Taxes | 450/3 | €17,935 | €36,638 | +€18,703 | +104.3% |
| Remuneration and social security | 454/9 | €64,204 | €69,278 | +€5,075 | +7.9% |
| Other amounts payable | 47/48 | €145,266 | €49,349 | -€95,917 | -66.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €487,983 | €561,932 | +€73,949 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268,426 | €267,707 | -€719 | -0.3% |
| Other operating charges | 640/8 | €24,850 | €40,260 | +€15,410 | +62.0% |
| Non-recurring operating charges | 66A | - | €232 | +€232 | |
| Gross operating margin | 9900 | €1,041,014 | €1,225,306 | +€184,292 | +17.7% |
| Operating profit (loss) | 9901 | €259,755 | €355,176 | +€95,421 | +36.7% |
| Financial income | 75/76B | €38,566 | €35,739 | -€2,827 | -7.3% |
| Recurring financial income | 75 | €38,566 | €35,739 | -€2,827 | -7.3% |
| Financial charges | 65/66B | €45,879 | €48,574 | +€2,695 | +5.9% |
| Recurring financial charges | 65 | €45,879 | €48,574 | +€2,695 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €252,442 | €342,341 | +€89,899 | +35.6% |
| Transfer from deferred taxes | 780 | €625 | €0 | -€625 | -100.0% |
| Income taxes | 67/77 | €69,519 | €105,868 | +€36,349 | +52.3% |
| Profit (loss) for the period | 9904 | €183,548 | €236,473 | +€52,925 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €183,548 | €236,473 | +€52,925 | +28.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.