APIMEX distribution: 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.
APIMEX distribution
Largest movements
- Receivables within one year +€213,228
up €213,228 (+37.6%), from €567,278 to €780,505
of which Trade receivables: +€219,037
- Cash +€170,349
up €170,349 (+198%), from €85,934 to €256,283
mainly Trade debts (+€284,793) and Other debts (+€95,045)
- Stocks and contracts +€50,276
up €50,276 (+25.9%), from €193,814 to €244,090
- Tangible fixed assets +€22,952
up €22,952 (+114%), from €20,054 to €43,006
of which Furniture and vehicles: +€21,057
- Trade debts +€284,793
up €284,793 (+74.8%), from €380,669 to €665,462
- Other debts +€95,045
up €95,045 (+45.0%), from €211,226 to €306,272
- Profit (loss) carried forward +€60,618
up €60,618 (+282%), from €21,466 to €82,083
- Staff costs -€47,991
down €47,991 (-48.9%), from €98,121 to €50,130
- Gross operating margin +€28,912
up €28,912 (+22.2%), from €129,956 to €158,868
- Financial charges +€8,107
up €8,107 (+114%), from €7,087 to €15,195
- Depreciation +€4,342
up €4,342 (+31.6%), from €13,723 to €18,065
- Taxes +€2,039
up €2,039 (+298%), from €684 to €2,724
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €871,299 | €1,325,585 | +€454,286 | +52.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €21,654 | €44,606 | +€22,952 | +106% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €20,054 | €43,006 | +€22,952 | +114% |
| Plant, machinery and equipment | 23 | €1,632 | €4,194 | +€2,562 | +157% |
| Furniture and vehicles | 24 | €12,173 | €33,230 | +€21,057 | +173% |
| Other tangible fixed assets | 26 | €6,250 | €5,583 | -€667 | -10.7% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €849,645 | €1,280,978 | +€431,333 | +50.8% |
| Stocks and contracts in progress | 3 | €193,814 | €244,090 | +€50,276 | +25.9% |
| Stocks | 30/36 | €193,814 | €244,090 | +€50,276 | +25.9% |
| Amounts receivable within one year | 40/41 | €567,278 | €780,505 | +€213,228 | +37.6% |
| Trade receivables | 40 | €561,468 | €780,505 | +€219,037 | +39.0% |
| Other amounts receivable | 41 | €5,810 | - | -€5,810 | |
| Cash at bank and in hand | 54/58 | €85,934 | €256,283 | +€170,349 | +198% |
| Deferred charges and accrued income | 490/1 | €2,619 | €100 | -€2,519 | -96.2% |
| Total equity and liabilities | 10/49 | €871,299 | €1,325,585 | +€454,286 | +52.1% |
| Equity | 10/15 | €60,676 | €121,293 | +€60,618 | +99.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,466 | €82,083 | +€60,618 | +282% |
| Amounts payable | 17/49 | €810,623 | €1,204,291 | +€393,668 | +48.6% |
| Amounts payable after more than one year | 17 | €11,354 | €8,554 | -€2,801 | -24.7% |
| Financial debts | 170/4 | €11,354 | €8,554 | -€2,801 | -24.7% |
| Amounts payable within one year | 42/48 | €799,269 | €1,195,737 | +€396,469 | +49.6% |
| Current portion of amounts payable after more than one year | 42 | €19,805 | €27,875 | +€8,070 | +40.7% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €380,669 | €665,462 | +€284,793 | +74.8% |
| Suppliers | 440/4 | €380,669 | €665,462 | +€284,793 | +74.8% |
| Taxes, remuneration and social security | 45 | €37,568 | €46,129 | +€8,561 | +22.8% |
| Taxes | 450/3 | €13,152 | €35,544 | +€22,392 | +170% |
| Remuneration and social security | 454/9 | €24,416 | €10,585 | -€13,831 | -56.6% |
| Other amounts payable | 47/48 | €211,226 | €306,272 | +€95,045 | +45.0% |
| Non-recurring operating income | 76A | - | €14,066 | +€14,066 | |
| Remuneration, social security and pensions | 62 | €98,121 | €50,130 | -€47,991 | -48.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,723 | €18,065 | +€4,342 | +31.6% |
| Other operating charges | 640/8 | €5,173 | €4,457 | -€716 | -13.8% |
| Non-recurring operating charges | 66A | €731 | €8,494 | +€7,762 | +1,061% |
| Gross operating margin | 9900 | €129,956 | €158,868 | +€28,912 | +22.2% |
| Operating profit (loss) | 9901 | €12,207 | €77,722 | +€65,515 | +537% |
| Financial income | 75/76B | €0 | €814 | +€814 | +1,356,567% |
| Recurring financial income | 75 | €0 | €814 | +€814 | +1,356,567% |
| Financial charges | 65/66B | €7,087 | €15,195 | +€8,107 | +114% |
| Recurring financial charges | 65 | €7,087 | €15,195 | +€8,107 | +114% |
| Profit (loss) for the period before taxes | 9903 | €5,120 | €63,341 | +€58,222 | +1,137% |
| Income taxes | 67/77 | €684 | €2,724 | +€2,039 | +298% |
| Profit (loss) for the period | 9904 | €4,436 | €60,618 | +€56,182 | +1,267% |
| Profit (loss) for the period to be appropriated | 9905 | €4,436 | €60,618 | +€56,182 | +1,267% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.