APKG: 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.
APKG
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Accrued charges and deferred income +€54,600
up €54,600 (+21.3%), from €256,321 to €310,922
- Debts after one year -€48,280
down €48,280 (-6.4%), from €754,462 to €706,182
of which Financial debts: -€48,280
- Profit (loss) carried forward -€42,817
down €42,817 (-19.1%), from -€224,579 to -€267,396
- Other debts +€33,000
up €33,000 (+13.5%), from €243,550 to €276,550
- Financial charges -€9,272
down €9,272 (-12.6%), from €73,444 to €64,173
- Depreciation +€3,032
up €3,032 (+245.9%), from €1,233 to €4,265
- Gross operating margin +€1,810
up €1,810 (+6.2%), from €28,997 to €30,806
- Other operating charges +€924
up €924 (+21.7%), from €4,261 to €5,185
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,380,573 | €1,377,506 | -€3,067 | -0.2% |
| Fixed assets | 21/28 | €1,380,573 | €1,377,506 | -€3,067 | -0.2% |
| Tangible fixed assets | 22/27 | €1,380,573 | €1,377,506 | -€3,067 | -0.2% |
| Land and buildings | 22 | €1,380,573 | €1,376,530 | -€4,043 | -0.3% |
| Furniture and vehicles | 24 | - | €976 | +€976 | |
| Total equity and liabilities | 10/49 | €1,380,573 | €1,377,506 | -€3,067 | -0.2% |
| Equity | 10/15 | €75,421 | €32,604 | -€42,817 | -56.8% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€224,579 | -€267,396 | -€42,817 | -19.1% |
| Amounts payable | 17/49 | €1,305,152 | €1,344,901 | +€39,750 | +3.0% |
| Amounts payable after more than one year | 17 | €754,462 | €706,182 | -€48,280 | -6.4% |
| Financial debts | 170/4 | €241,745 | €193,465 | -€48,280 | -20.0% |
| Other amounts payable | 178/9 | €512,717 | €512,717 | = | 0.0% |
| Amounts payable within one year | 42/48 | €294,368 | €327,798 | +€33,430 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €48,280 | €48,280 | = | 0.0% |
| Financial debts | 43 | €2,255 | €756 | -€1,499 | -66.5% |
| Credit institutions | 430/8 | €2,255 | €756 | -€1,499 | -66.5% |
| Trade debts | 44 | €283 | €1,462 | +€1,179 | +416.3% |
| Suppliers | 440/4 | €283 | €1,462 | +€1,179 | +416.3% |
| Taxes, remuneration and social security | 45 | - | €750 | +€750 | |
| Remuneration and social security | 454/9 | - | €750 | +€750 | |
| Other amounts payable | 47/48 | €243,550 | €276,550 | +€33,000 | +13.5% |
| Accrued charges and deferred income | 492/3 | €256,321 | €310,922 | +€54,600 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,233 | €4,265 | +€3,032 | +245.9% |
| Other operating charges | 640/8 | €4,261 | €5,185 | +€924 | +21.7% |
| Gross operating margin | 9900 | €28,997 | €30,806 | +€1,810 | +6.2% |
| Operating profit (loss) | 9901 | €23,503 | €21,356 | -€2,146 | -9.1% |
| Financial charges | 65/66B | €73,444 | €64,173 | -€9,272 | -12.6% |
| Recurring financial charges | 65 | €73,444 | €64,173 | -€9,272 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | -€49,942 | -€42,817 | +€7,125 | +14.3% |
| Profit (loss) for the period | 9904 | -€49,942 | -€42,817 | +€7,125 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,942 | -€42,817 | +€7,125 | +14.3% |
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 4 October 2026 via checked.be.