APJ CONSTRUCT: 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.
APJ CONSTRUCT
Largest movements
- Tangible fixed assets -€12,092
down €12,092 (-54.5%), from €22,181 to €10,089
- Receivables within one year +€7,659
up €7,659 (+94.5%), from €8,103 to €15,762
of which Trade receivables: +€6,606
- Cash -€5,140
down €5,140 (-86.0%), from €5,980 to €840
mainly Receivables within one year (-€7,659) and Debts after one year (-€6,925)
- Debts after one year -€6,925
down €6,925 (-31.3%), from €22,112 to €15,187
- Tax, wage and social debts -€3,885
no longer reported in 2025 (was €3,885)
- Profit (loss) carried forward +€936
up €936 (+13.0%), from €7,203 to €8,139
- Gross operating margin +€41,748
up €41,748, from -€40,558 to €1,190
- Financial charges -€865
down €865 (-76.7%), from €1,128 to €263
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 | €36,265 | €26,692 | -€9,573 | -26.4% |
| Fixed assets | 21/28 | €22,181 | €10,089 | -€12,092 | -54.5% |
| Tangible fixed assets | 22/27 | €22,181 | €10,089 | -€12,092 | -54.5% |
| Furniture and vehicles | 24 | €22,181 | €10,089 | -€12,092 | -54.5% |
| Current assets | 29/58 | €14,083 | €16,602 | +€2,519 | +17.9% |
| Amounts receivable within one year | 40/41 | €8,103 | €15,762 | +€7,659 | +94.5% |
| Trade receivables | 40 | €7,239 | €13,845 | +€6,606 | +91.3% |
| Other amounts receivable | 41 | €864 | €1,917 | +€1,053 | +121.8% |
| Cash at bank and in hand | 54/58 | €5,980 | €840 | -€5,140 | -86.0% |
| Total equity and liabilities | 10/49 | €36,265 | €26,692 | -€9,573 | -26.4% |
| Equity | 10/15 | €10,203 | €11,139 | +€936 | +9.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,203 | €8,139 | +€936 | +13.0% |
| Amounts payable | 17/49 | €26,062 | €15,553 | -€10,509 | -40.3% |
| Amounts payable after more than one year | 17 | €22,112 | €15,187 | -€6,925 | -31.3% |
| Financial debts | 170/4 | €22,112 | €15,187 | -€6,925 | -31.3% |
| Amounts payable within one year | 42/48 | €3,950 | €366 | -€3,583 | -90.7% |
| Trade debts | 44 | €65 | €366 | +€301 | +462.0% |
| Suppliers | 440/4 | €65 | €366 | +€301 | +462.0% |
| Taxes, remuneration and social security | 45 | €3,885 | - | -€3,885 | |
| Taxes | 450/3 | €3,885 | - | -€3,885 | |
| Gross operating margin | 9900 | -€40,558 | €1,190 | +€41,748 | |
| Operating profit (loss) | 9901 | -€40,558 | €1,190 | +€41,748 | |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €1,128 | €263 | -€865 | -76.7% |
| Recurring financial charges | 65 | €1,128 | €263 | -€865 | -76.7% |
| Profit (loss) for the period before taxes | 9903 | -€41,686 | €936 | +€42,622 | |
| Income taxes | 67/77 | -€262 | - | +€262 | |
| Profit (loss) for the period | 9904 | -€41,424 | €936 | +€42,360 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,424 | €936 | +€42,360 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.