APO-GEE ENGINEERING: 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.
APO-GEE ENGINEERING
Largest movements
- Receivables within one year +€90,612
up €90,612 (+696.8%), from €13,005 to €103,616
of which Trade receivables: +€87,997
- Intangible fixed assets +€64,017
up €64,017 (+34.0%), from €188,081 to €252,098
- Cash +€25,069
up €25,069 (+13.5%), from €185,992 to €211,061
mainly Net result for the year (+€217,705) and Depreciation (+€49,353)
- Profit (loss) carried forward +€217,705
up €217,705 (+608.0%), from €35,807 to €253,512
- Trade debts -€24,179
down €24,179 (-87.5%), from €27,631 to €3,453
- Debts after one year -€20,096
down €20,096 (-7.1%), from €284,930 to €264,834
- Current portion of long-term debt +€7,991
up €7,991 (+53.6%), from €14,918 to €22,909
- Gross operating margin +€240,856
up €240,856 (+525.8%), from €45,807 to €286,663
- Depreciation +€23,001
up €23,001 (+87.3%), from €26,351 to €49,353
- Financial charges +€8,370
up €8,370 (+77.2%), from €10,836 to €19,207
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 | €388,023 | €569,281 | +€181,258 | +46.7% |
| Fixed assets | 21/28 | €188,735 | €252,510 | +€63,775 | +33.8% |
| Intangible fixed assets | 21 | €188,081 | €252,098 | +€64,017 | +34.0% |
| Tangible fixed assets | 22/27 | €654 | €412 | -€242 | -37.0% |
| Furniture and vehicles | 24 | €654 | €412 | -€242 | -37.0% |
| Current assets | 29/58 | €199,288 | €316,771 | +€117,483 | +59.0% |
| Amounts receivable within one year | 40/41 | €13,005 | €103,616 | +€90,612 | +696.8% |
| Trade receivables | 40 | €8,570 | €96,567 | +€87,997 | +1026.8% |
| Other amounts receivable | 41 | €4,435 | €7,049 | +€2,615 | +59.0% |
| Cash at bank and in hand | 54/58 | €185,992 | €211,061 | +€25,069 | +13.5% |
| Deferred charges and accrued income | 490/1 | €291 | €2,094 | +€1,803 | +619.6% |
| Total equity and liabilities | 10/49 | €388,023 | €569,281 | +€181,258 | +46.7% |
| Equity | 10/15 | €50,807 | €268,512 | +€217,705 | +428.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,807 | €253,512 | +€217,705 | +608.0% |
| Amounts payable | 17/49 | €337,216 | €300,769 | -€36,447 | -10.8% |
| Amounts payable after more than one year | 17 | €284,930 | €264,834 | -€20,096 | -7.1% |
| Financial debts | 170/4 | €284,930 | €264,834 | -€20,096 | -7.1% |
| Amounts payable within one year | 42/48 | €51,017 | €34,777 | -€16,240 | -31.8% |
| Current portion of amounts payable after more than one year | 42 | €14,918 | €22,909 | +€7,991 | +53.6% |
| Trade debts | 44 | €27,631 | €3,453 | -€24,179 | -87.5% |
| Suppliers | 440/4 | €27,631 | €3,453 | -€24,179 | -87.5% |
| Taxes, remuneration and social security | 45 | - | €3,683 | +€3,683 | |
| Taxes | 450/3 | - | €3,683 | +€3,683 | |
| Other amounts payable | 47/48 | €8,468 | €4,732 | -€3,736 | -44.1% |
| Accrued charges and deferred income | 492/3 | €1,269 | €1,159 | -€110 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,351 | €49,353 | +€23,001 | +87.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €45,807 | €286,663 | +€240,856 | +525.8% |
| Operating profit (loss) | 9901 | €19,068 | €236,911 | +€217,843 | +1142.5% |
| Financial income | 75/76B | €0 | €1 | +€1 | +6000.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +6000.0% |
| Financial charges | 65/66B | €10,836 | €19,207 | +€8,370 | +77.2% |
| Recurring financial charges | 65 | €10,836 | €19,207 | +€8,370 | +77.2% |
| Profit (loss) for the period before taxes | 9903 | €8,231 | €217,705 | +€209,473 | +2544.8% |
| Profit (loss) for the period | 9904 | €8,231 | €217,705 | +€209,473 | +2544.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,231 | €217,705 | +€209,473 | +2544.8% |
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.