Apogée epv: 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.
Apogée epv
Largest movements
- Tangible fixed assets -€22,942
down €22,942 (-42.4%), from €54,079 to €31,137
of which Furniture and vehicles: -€21,146
- Stocks and contracts -€22,537
down €22,537 (-30.5%), from €73,912 to €51,375
- Cash +€18,140
up €18,140 (+155.4%), from €11,670 to €29,810
mainly Depreciation (+€24,165) and Stocks and contracts (+€22,537)
- Receivables within one year +€6,107
up €6,107 (+101.2%), from €6,034 to €12,142
of which Trade receivables: +€7,628
- Other debts -€34,783
down €34,783 (-11.2%), from €311,184 to €276,401
- Profit (loss) carried forward +€9,778
up €9,778 (+3.0%), from -€327,845 to -€318,067
- Accrued charges and deferred income -€8,500
down €8,500 (-48.0%), from €17,700 to €9,200
- Trade debts +€7,020
up €7,020 (+55.7%), from €12,606 to €19,626
- Tax, wage and social debts +€5,805
up €5,805 (+2109.6%), from €275 to €6,080
- Gross operating margin +€57,116
up €57,116, from -€19,409 to €37,707
- Depreciation +€488
up €488 (+2.1%), from €23,677 to €24,165
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 | €147,520 | €126,840 | -€20,680 | -14.0% |
| Fixed assets | 21/28 | €54,079 | €31,137 | -€22,942 | -42.4% |
| Tangible fixed assets | 22/27 | €54,079 | €31,137 | -€22,942 | -42.4% |
| Plant, machinery and equipment | 23 | €6,924 | €5,651 | -€1,273 | -18.4% |
| Furniture and vehicles | 24 | €46,023 | €24,877 | -€21,146 | -45.9% |
| Other tangible fixed assets | 26 | €1,132 | €609 | -€522 | -46.2% |
| Current assets | 29/58 | €93,441 | €95,703 | +€2,263 | +2.4% |
| Stocks and contracts in progress | 3 | €73,912 | €51,375 | -€22,537 | -30.5% |
| Stocks | 30/36 | €73,912 | €51,375 | -€22,537 | -30.5% |
| Amounts receivable within one year | 40/41 | €6,034 | €12,142 | +€6,107 | +101.2% |
| Trade receivables | 40 | €4,514 | €12,142 | +€7,628 | +169.0% |
| Other amounts receivable | 41 | €1,520 | - | -€1,520 | |
| Cash at bank and in hand | 54/58 | €11,670 | €29,810 | +€18,140 | +155.4% |
| Deferred charges and accrued income | 490/1 | €1,824 | €2,376 | +€552 | +30.2% |
| Total equity and liabilities | 10/49 | €147,520 | €126,840 | -€20,680 | -14.0% |
| Equity | 10/15 | -€309,245 | -€299,467 | +€9,778 | +3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€327,845 | -€318,067 | +€9,778 | +3.0% |
| Amounts payable | 17/49 | €456,765 | €426,308 | -€30,458 | -6.7% |
| Amounts payable after more than one year | 17 | €115,000 | €115,000 | = | 0.0% |
| Other amounts payable | 178/9 | €115,000 | €115,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €324,065 | €302,108 | -€21,958 | -6.8% |
| Trade debts | 44 | €12,606 | €19,626 | +€7,020 | +55.7% |
| Suppliers | 440/4 | €12,606 | €19,626 | +€7,020 | +55.7% |
| Taxes, remuneration and social security | 45 | €275 | €6,080 | +€5,805 | +2109.6% |
| Taxes | 450/3 | €275 | €6,080 | +€5,805 | +2109.6% |
| Other amounts payable | 47/48 | €311,184 | €276,401 | -€34,783 | -11.2% |
| Accrued charges and deferred income | 492/3 | €17,700 | €9,200 | -€8,500 | -48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,677 | €24,165 | +€488 | +2.1% |
| Other operating charges | 640/8 | €1,104 | €742 | -€361 | -32.7% |
| Gross operating margin | 9900 | -€19,409 | €37,707 | +€57,116 | |
| Operating profit (loss) | 9901 | -€44,190 | €12,800 | +€56,989 | |
| Financial income | 75/76B | €1 | €35 | +€34 | +2612.3% |
| Recurring financial income | 75 | €1 | €35 | +€34 | +2612.3% |
| Financial charges | 65/66B | €2,518 | €2,784 | +€267 | +10.6% |
| Recurring financial charges | 65 | €2,518 | €2,784 | +€267 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | -€46,706 | €10,051 | +€56,757 | |
| Income taxes | 67/77 | €275 | €273 | -€3 | -1.0% |
| Profit (loss) for the period | 9904 | -€46,981 | €9,778 | +€56,759 | |
| Profit (loss) for the period to be appropriated | 9905 | -€46,981 | €9,778 | +€56,759 |
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 7 October 2026 via checked.be.