APNIS: 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.
APNIS
Largest movements
- Tangible fixed assets -€67,453
down €67,453 (-30.7%), from €219,606 to €152,153
of which Plant, machinery and equipment: -€73,432
- Receivables within one year -€16,742
down €16,742 (-37.6%), from €44,541 to €27,799
of which Other amounts receivable: -€9,762
- Stocks and contracts -€14,072
down €14,072 (-9.5%), from €148,893 to €134,821
- Cash +€7,046
up €7,046 (+38.5%), from €18,321 to €25,367
mainly Trade debts (+€118,638) and Depreciation (+€80,176)
- Trade debts +€118,638
up €118,638 (+242.8%), from €48,862 to €167,499
- Profit (loss) carried forward -€86,493
down €86,493 (-297.1%), from -€29,109 to -€115,601
- Current portion of long-term debt -€80,286
down €80,286 (-40.0%), from €200,765 to €120,479
- Other debts -€65,577
down €65,577 (-97.9%), from €66,967 to €1,390
- Debts after one year +€21,840
up €21,840 (+21.0%), from €103,947 to €125,787
- Gross operating margin -€92,769
down €92,769 (-36.3%), from €255,592 to €162,823
- Staff costs +€10,820
up €10,820 (+7.9%), from €136,498 to €147,318
- Other operating charges -€7,671
down €7,671 (-42.1%), from €18,206 to €10,535
- Financial charges -€6,954
down €6,954 (-36.2%), from €19,205 to €12,251
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 | €440,285 | €347,810 | -€92,475 | -21.0% |
| Fixed assets | 21/28 | €226,956 | €159,823 | -€67,133 | -29.6% |
| Tangible fixed assets | 22/27 | €219,606 | €152,153 | -€67,453 | -30.7% |
| Land and buildings | 22 | - | €6,833 | +€6,833 | |
| Plant, machinery and equipment | 23 | €217,178 | €143,746 | -€73,432 | -33.8% |
| Furniture and vehicles | 24 | €2,428 | €1,574 | -€854 | -35.2% |
| Financial fixed assets | 28 | €7,350 | €7,670 | +€320 | +4.4% |
| Current assets | 29/58 | €213,329 | €187,988 | -€25,342 | -11.9% |
| Stocks and contracts in progress | 3 | €148,893 | €134,821 | -€14,072 | -9.5% |
| Stocks | 30/36 | €148,893 | €134,821 | -€14,072 | -9.5% |
| Amounts receivable within one year | 40/41 | €44,541 | €27,799 | -€16,742 | -37.6% |
| Trade receivables | 40 | €18,188 | €11,207 | -€6,980 | -38.4% |
| Other amounts receivable | 41 | €26,354 | €16,592 | -€9,762 | -37.0% |
| Cash at bank and in hand | 54/58 | €18,321 | €25,367 | +€7,046 | +38.5% |
| Deferred charges and accrued income | 490/1 | €1,573 | - | -€1,573 | |
| Total equity and liabilities | 10/49 | €440,285 | €347,810 | -€92,475 | -21.0% |
| Equity | 10/15 | €10,597 | -€75,896 | -€86,493 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,106 | €21,106 | = | 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% |
| Distributable reserves | 133 | €19,246 | €19,246 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,109 | -€115,601 | -€86,493 | -297.1% |
| Amounts payable | 17/49 | €429,688 | €423,706 | -€5,982 | -1.4% |
| Amounts payable after more than one year | 17 | €103,947 | €125,787 | +€21,840 | +21.0% |
| Financial debts | 170/4 | €103,947 | €125,787 | +€21,840 | +21.0% |
| Amounts payable within one year | 42/48 | €325,742 | €297,919 | -€27,822 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €200,765 | €120,479 | -€80,286 | -40.0% |
| Trade debts | 44 | €48,862 | €167,499 | +€118,638 | +242.8% |
| Suppliers | 440/4 | €48,862 | €167,499 | +€118,638 | +242.8% |
| Taxes, remuneration and social security | 45 | €9,148 | €8,551 | -€597 | -6.5% |
| Taxes | 450/3 | €892 | €289 | -€603 | -67.6% |
| Remuneration and social security | 454/9 | €8,256 | €8,262 | +€6 | +0.1% |
| Other amounts payable | 47/48 | €66,967 | €1,390 | -€65,577 | -97.9% |
| Remuneration, social security and pensions | 62 | €136,498 | €147,318 | +€10,820 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,139 | €80,176 | +€38 | 0.0% |
| Other operating charges | 640/8 | €18,206 | €10,535 | -€7,671 | -42.1% |
| Gross operating margin | 9900 | €255,592 | €162,823 | -€92,769 | -36.3% |
| Operating profit (loss) | 9901 | €20,749 | -€75,207 | -€95,955 | |
| Financial income | 75/76B | €1,954 | €965 | -€990 | -50.6% |
| Recurring financial income | 75 | €1,954 | €965 | -€990 | -50.6% |
| Financial charges | 65/66B | €19,205 | €12,251 | -€6,954 | -36.2% |
| Recurring financial charges | 65 | €19,205 | €12,251 | -€6,954 | -36.2% |
| Profit (loss) for the period before taxes | 9903 | €3,498 | -€86,493 | -€89,991 | |
| Profit (loss) for the period | 9904 | €3,498 | -€86,493 | -€89,991 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,498 | -€86,493 | -€89,991 |
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 6 October 2026 via checked.be.