APO BONI: 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.
APO BONI
Largest movements
- Cash -€13,916
down €13,916 (-64.0%), from €21,733 to €7,817
mainly Investment in fixed assets (net) (-€14,956) and Contributions, distributions and other (-€13,500)
- Receivables within one year -€7,499
down €7,499 (-57.4%), from €13,056 to €5,557
of which Trade receivables: -€10,376
- Tangible fixed assets +€4,485
up €4,485 (+2.4%), from €189,262 to €193,747
of which Other tangible fixed assets: +€14,864
- Reserves -€12,868
down €12,868 (-21.5%), from €59,930 to €47,062
- Debts after one year -€12,031
down €12,031 (-9.5%), from €127,048 to €115,018
- Other debts +€10,410
up €10,410 (+337%), from €3,090 to €13,500
- Gross operating margin -€16,038
down €16,038 (-48.5%), from €33,067 to €17,029
- Taxes -€3,230
down €3,230 (-67.0%), from €4,820 to €1,590
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 | €224,755 | €207,793 | -€16,962 | -7.5% |
| Fixed assets | 21/28 | €189,262 | €193,747 | +€4,485 | +2.4% |
| Tangible fixed assets | 22/27 | €189,262 | €193,747 | +€4,485 | +2.4% |
| Land and buildings | 22 | €186,668 | €177,044 | -€9,623 | -5.2% |
| Furniture and vehicles | 24 | €2,594 | €1,839 | -€756 | -29.1% |
| Other tangible fixed assets | 26 | - | €14,864 | +€14,864 | |
| Current assets | 29/58 | €35,493 | €14,047 | -€21,446 | -60.4% |
| Amounts receivable within one year | 40/41 | €13,056 | €5,557 | -€7,499 | -57.4% |
| Trade receivables | 40 | €10,376 | €0 | -€10,376 | -100% |
| Other amounts receivable | 41 | €2,680 | €5,557 | +€2,876 | +107% |
| Cash at bank and in hand | 54/58 | €21,733 | €7,817 | -€13,916 | -64.0% |
| Deferred charges and accrued income | 490/1 | €704 | €673 | -€31 | -4.4% |
| Total equity and liabilities | 10/49 | €224,755 | €207,793 | -€16,962 | -7.5% |
| Equity | 10/15 | €78,530 | €65,662 | -€12,868 | -16.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €59,930 | €47,062 | -€12,868 | -21.5% |
| Distributable reserves | 133 | €59,930 | €47,062 | -€12,868 | -21.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €146,225 | €142,131 | -€4,094 | -2.8% |
| Amounts payable after more than one year | 17 | €127,048 | €115,018 | -€12,031 | -9.5% |
| Financial debts | 170/4 | €127,048 | €115,018 | -€12,031 | -9.5% |
| Amounts payable within one year | 42/48 | €19,163 | €27,113 | +€7,950 | +41.5% |
| Current portion of amounts payable after more than one year | 42 | €11,890 | €12,872 | +€982 | +8.3% |
| Trade debts | 44 | €2,232 | €741 | -€1,491 | -66.8% |
| Suppliers | 440/4 | €2,232 | €741 | -€1,491 | -66.8% |
| Taxes, remuneration and social security | 45 | €1,950 | €0 | -€1,950 | -100% |
| Taxes | 450/3 | €1,950 | €0 | -€1,950 | -100% |
| Other amounts payable | 47/48 | €3,090 | €13,500 | +€10,410 | +337% |
| Accrued charges and deferred income | 492/3 | €13 | €0 | -€13 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,332 | €10,472 | +€139 | +1.3% |
| Other operating charges | 640/8 | €2,193 | €2,013 | -€180 | -8.2% |
| Gross operating margin | 9900 | €33,067 | €17,029 | -€16,038 | -48.5% |
| Operating profit (loss) | 9901 | €20,541 | €4,544 | -€15,997 | -77.9% |
| Financial income | 75/76B | €87 | €0 | -€87 | -100.0% |
| Recurring financial income | 75 | €87 | €0 | -€87 | -100.0% |
| Financial charges | 65/66B | €2,548 | €2,322 | -€225 | -8.8% |
| Recurring financial charges | 65 | €2,548 | €2,322 | -€225 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €18,081 | €2,222 | -€15,859 | -87.7% |
| Income taxes | 67/77 | €4,820 | €1,590 | -€3,230 | -67.0% |
| Profit (loss) for the period | 9904 | €13,261 | €632 | -€12,629 | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,261 | €632 | -€12,629 | -95.2% |
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 27 October 2026 via checked.be.