Apo - Phar - Agra: 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 - Phar - Agra
Largest movements
- Current investments +€25,000
up €25,000 (+6.7%), from €375,000 to €400,000
- Tangible fixed assets -€13,314
down €13,314 (-7.3%), from €183,304 to €169,990
of which Land and buildings: -€11,034
- Cash +€9,748
up €9,748 (+63.3%), from €15,391 to €25,139
mainly Net result for the year (+€21,543) and Depreciation (+€13,314)
- Reserves +€21,543
up €21,543 (+4.2%), from €514,849 to €536,392
of which Distributable reserves: +€21,543
- Financial income -€2,796
down €2,796 (-27.3%), from €10,244 to €7,448
- Gross operating margin +€2,459
up €2,459 (+7.1%), from €34,624 to €37,082
- Depreciation -€428
down €428 (-3.1%), from €13,742 to €13,314
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 | €578,632 | €601,002 | +€22,370 | +3.9% |
| Fixed assets | 21/28 | €183,304 | €169,990 | -€13,314 | -7.3% |
| Tangible fixed assets | 22/27 | €183,304 | €169,990 | -€13,314 | -7.3% |
| Land and buildings | 22 | €175,796 | €164,762 | -€11,034 | -6.3% |
| Plant, machinery and equipment | 23 | €7,508 | €5,228 | -€2,280 | -30.4% |
| Current assets | 29/58 | €395,328 | €431,012 | +€35,684 | +9.0% |
| Amounts receivable within one year | 40/41 | €3,948 | €4,719 | +€771 | +19.5% |
| Trade receivables | 40 | €648 | €3,119 | +€2,471 | +381% |
| Other amounts receivable | 41 | €3,300 | €1,600 | -€1,700 | -51.5% |
| Current investments | 50/53 | €375,000 | €400,000 | +€25,000 | +6.7% |
| Cash at bank and in hand | 54/58 | €15,391 | €25,139 | +€9,748 | +63.3% |
| Deferred charges and accrued income | 490/1 | €989 | €1,154 | +€165 | +16.7% |
| Total equity and liabilities | 10/49 | €578,632 | €601,002 | +€22,370 | +3.9% |
| Equity | 10/15 | €576,849 | €598,392 | +€21,543 | +3.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €514,849 | €536,392 | +€21,543 | +4.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,193 | €1,193 | = | 0.0% |
| Distributable reserves | 133 | €507,457 | €528,999 | +€21,543 | +4.2% |
| Amounts payable | 17/49 | €1,783 | €2,610 | +€828 | +46.4% |
| Accrued charges and deferred income | 492/3 | €1,783 | €2,610 | +€828 | +46.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,742 | €13,314 | -€428 | -3.1% |
| Other operating charges | 640/8 | €2,201 | €2,271 | +€69 | +3.1% |
| Gross operating margin | 9900 | €34,624 | €37,082 | +€2,459 | +7.1% |
| Operating profit (loss) | 9901 | €18,680 | €21,498 | +€2,818 | +15.1% |
| Financial income | 75/76B | €10,244 | €7,448 | -€2,796 | -27.3% |
| Recurring financial income | 75 | €10,244 | €7,448 | -€2,796 | -27.3% |
| Financial charges | 65/66B | €179 | €325 | +€146 | +81.6% |
| Recurring financial charges | 65 | €179 | €325 | +€146 | +81.6% |
| Profit (loss) for the period before taxes | 9903 | €28,745 | €28,621 | -€124 | -0.4% |
| Income taxes | 67/77 | €7,125 | €7,078 | -€47 | -0.7% |
| Profit (loss) for the period | 9904 | €21,620 | €21,543 | -€77 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,620 | €21,543 | -€77 | -0.4% |
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.