APIR Invest: what changed
APIR Invest
Largest movements
- Cash +€159,949
up €159,949 (+705%), from €22,674 to €182,623
mainly Debts after one year (+€219,765) and Depreciation (+€71,084)
- Tangible fixed assets +€77,123
up €77,123 (+15.7%), from €491,823 to €568,946
of which Plant, machinery and equipment: +€85,256
- Receivables within one year +€10,744
up €10,744 (+12.6%), from €85,549 to €96,294
of which Other amounts receivable: +€10,000
- Debts after one year +€219,765
up €219,765 (+116%), from €190,057 to €409,822
- Profit (loss) carried forward +€12,019
up €12,019 (+48.2%), from €24,946 to €36,965
- Current portion of long-term debt +€10,917
up €10,917 (+38.6%), from €28,318 to €39,235
- Gross operating margin +€15,366
up €15,366 (+18.4%), from €83,657 to €99,023
- Depreciation +€14,269
up €14,269 (+25.1%), from €56,815 to €71,084
- Financial charges +€5,889
up €5,889 (+59.7%), from €9,864 to €15,753
of which Financial charges: +€5,969
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €600,612 | €849,202 | +€248,590 | +41.4% |
| Fixed assets | 21/28 | €492,223 | €569,346 | +€77,123 | +15.7% |
| Tangible fixed assets | 22/27 | €491,823 | €568,946 | +€77,123 | +15.7% |
| Plant, machinery and equipment | 23 | €447,535 | €532,792 | +€85,256 | +19.1% |
| Other tangible fixed assets | 26 | €44,287 | €36,154 | -€8,134 | -18.4% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €108,389 | €279,856 | +€171,467 | +158% |
| Amounts receivable within one year | 40/41 | €85,549 | €96,294 | +€10,744 | +12.6% |
| Trade receivables | 40 | €35,549 | €36,294 | +€744 | +2.1% |
| Other amounts receivable | 41 | €50,000 | €60,000 | +€10,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €22,674 | €182,623 | +€159,949 | +705% |
| Deferred charges and accrued income | 490/1 | €165 | €939 | +€773 | +468% |
| Total equity and liabilities | 10/49 | €600,612 | €849,202 | +€248,590 | +41.4% |
| Equity | 10/15 | €43,946 | €55,965 | +€12,019 | +27.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,946 | €36,965 | +€12,019 | +48.2% |
| Amounts payable | 17/49 | €556,666 | €793,237 | +€236,571 | +42.5% |
| Amounts payable after more than one year | 17 | €190,057 | €409,822 | +€219,765 | +116% |
| Financial debts | 170/4 | €190,057 | €409,822 | +€219,765 | +116% |
| Amounts payable within one year | 42/48 | €366,609 | €383,415 | +€16,806 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €28,318 | €39,235 | +€10,917 | +38.6% |
| Trade debts | 44 | €736 | €820 | +€85 | +11.5% |
| Suppliers | 440/4 | €736 | €820 | +€85 | +11.5% |
| Taxes, remuneration and social security | 45 | €13,453 | €19,257 | +€5,805 | +43.1% |
| Taxes | 450/3 | €13,453 | €19,257 | +€5,805 | +43.1% |
| Other amounts payable | 47/48 | €324,102 | €324,102 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,815 | €71,084 | +€14,269 | +25.1% |
| Other operating charges | 640/8 | - | €167 | +€167 | |
| Gross operating margin | 9900 | €83,657 | €99,023 | +€15,366 | +18.4% |
| Operating profit (loss) | 9901 | €26,842 | €27,772 | +€930 | +3.5% |
| Financial charges | 65/66B | €9,864 | €15,753 | +€5,889 | +59.7% |
| Recurring financial charges | 65 | €9,784 | €15,753 | +€5,969 | +61.0% |
| Non-recurring financial charges | 66B | €80 | - | -€80 | |
| Profit (loss) for the period before taxes | 9903 | €16,979 | €12,019 | -€4,960 | -29.2% |
| Profit (loss) for the period | 9904 | €16,979 | €12,019 | -€4,960 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,979 | €12,019 | -€4,960 | -29.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.