APL-Sign: 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.
APL-Sign
Largest movements
- Cash -€29,559
down €29,559 (-48.6%), from €60,854 to €31,295
mainly Trade debts (-€37,567) and Net result for the year (-€18,958)
- Stocks and contracts +€18,198
up €18,198 (+23.5%), from €77,457 to €95,655
- Receivables within one year -€11,448
down €11,448 (-5.4%), from €211,225 to €199,777
of which Other amounts receivable: -€9,190
- Intangible fixed assets -€9,400
down €9,400 (-26.7%), from €35,264 to €25,864
- Trade debts -€37,567
down €37,567 (-50.1%), from €74,913 to €37,346
- Profit (loss) carried forward -€18,958
down €18,958 (-9.2%), from €205,754 to €186,796
- Short-term financial debts +€16,732
up €16,732 (+32.6%), from €51,304 to €68,036
- Staff costs +€47,429
up €47,429 (+20.2%), from €234,471 to €281,900
- Gross operating margin +€25,999
up €25,999 (+10.4%), from €249,659 to €275,658
- Taxes -€3,326
down €3,326 (-100%), from €3,326 to €0
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.
Derived cash bridge
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 | €397,879 | €361,898 | -€35,982 | -9.0% |
| Fixed assets | 21/28 | €41,972 | €32,432 | -€9,540 | -22.7% |
| Intangible fixed assets | 21 | €35,264 | €25,864 | -€9,400 | -26.7% |
| Tangible fixed assets | 22/27 | €2,837 | €2,697 | -€140 | -4.9% |
| Plant, machinery and equipment | 23 | - | €722 | +€722 | |
| Furniture and vehicles | 24 | €2,837 | €1,975 | -€863 | -30.4% |
| Financial fixed assets | 28 | €3,870 | €3,870 | = | 0.0% |
| Current assets | 29/58 | €355,907 | €329,466 | -€26,441 | -7.4% |
| Stocks and contracts in progress | 3 | €77,457 | €95,655 | +€18,198 | +23.5% |
| Stocks | 30/36 | €77,457 | €95,655 | +€18,198 | +23.5% |
| Amounts receivable within one year | 40/41 | €211,225 | €199,777 | -€11,448 | -5.4% |
| Trade receivables | 40 | €194,735 | €192,477 | -€2,258 | -1.2% |
| Other amounts receivable | 41 | €16,490 | €7,300 | -€9,190 | -55.7% |
| Cash at bank and in hand | 54/58 | €60,854 | €31,295 | -€29,559 | -48.6% |
| Deferred charges and accrued income | 490/1 | €6,372 | €2,740 | -€3,632 | -57.0% |
| Total equity and liabilities | 10/49 | €397,879 | €361,898 | -€35,982 | -9.0% |
| Equity | 10/15 | €250,127 | €231,169 | -€18,958 | -7.6% |
| Contributions | 10/11 | €34,705 | €34,705 | = | 0.0% |
| Reserves | 13 | €9,668 | €9,668 | = | 0.0% |
| Distributable reserves | 133 | €9,668 | €9,668 | = | 0.0% |
| Profit (loss) carried forward | 14 | €205,754 | €186,796 | -€18,958 | -9.2% |
| Amounts payable | 17/49 | €147,752 | €130,729 | -€17,023 | -11.5% |
| Amounts payable within one year | 42/48 | €147,752 | €130,729 | -€17,023 | -11.5% |
| Financial debts | 43 | €51,304 | €68,036 | +€16,732 | +32.6% |
| Credit institutions | 430/8 | €51,304 | €68,036 | +€16,732 | +32.6% |
| Trade debts | 44 | €74,913 | €37,346 | -€37,567 | -50.1% |
| Suppliers | 440/4 | €74,913 | €37,346 | -€37,567 | -50.1% |
| Taxes, remuneration and social security | 45 | €21,535 | €25,347 | +€3,812 | +17.7% |
| Taxes | 450/3 | €11,572 | €2,531 | -€9,041 | -78.1% |
| Remuneration and social security | 454/9 | €9,963 | €22,816 | +€12,853 | +129% |
| Remuneration, social security and pensions | 62 | €234,471 | €281,900 | +€47,429 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,648 | €10,409 | +€761 | +7.9% |
| Other operating charges | 640/8 | €487 | €400 | -€88 | -18.0% |
| Gross operating margin | 9900 | €249,659 | €275,658 | +€25,999 | +10.4% |
| Operating profit (loss) | 9901 | €5,053 | -€17,050 | -€22,103 | |
| Financial income | 75/76B | €32 | €0 | -€32 | -99.7% |
| Recurring financial income | 75 | €32 | €0 | -€32 | -99.7% |
| Financial charges | 65/66B | €1,543 | €1,908 | +€365 | +23.6% |
| Recurring financial charges | 65 | €1,543 | €1,908 | +€365 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | €3,542 | -€18,958 | -€22,500 | |
| Income taxes | 67/77 | €3,326 | €0 | -€3,326 | -100% |
| Profit (loss) for the period | 9904 | €216 | -€18,958 | -€19,174 | |
| Profit (loss) for the period to be appropriated | 9905 | €216 | -€18,958 | -€19,174 |
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 25 October 2026 via checked.be.