APOK: 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.
What changed
APOK
NACE 25.999, Manufacture of fabricated metal products, except machinery and equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €288,791+€1.1m
Equity
€15.8m
2024 · €14.4m+€1.4m
Cash
€32,982
2024 · €37,545-€4,563
Balance sheet total
€72.8m
2024 · €83.6m-€10.8m
Largest movements
Assets
- Receivables within one year -€10.3m
down €10.3m (-37.2%), from €27.6m to €17.4m
of which Other amounts receivable: -€9.8m
- Financial fixed assets -€2.2m
down €2.2m (-9.9%), from €22.7m to €20.4m
of which Other financial fixed assets: -€2.1m
Equity and liabilities
- Debts after one year -€10.0m
down €10.0m (-22.5%), from €44.4m to €34.4m
- Trade debts -€1.9m
down €1.9m (-9.8%), from €19.0m to €17.1m
- Profit (loss) carried forward +€1.4m
up €1.4m (+14.1%), from €10.0m to €11.5m
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
€288,791
Turnover
-€907,147
Other operating income
+€465,065
Goods and materials
+€1.5m
Services and other goods
+€353,125
Staff costs
-€921,952
Depreciation
-€42,095
Write-downs
-€136,998
Provisions
+€703,800
Other operating charges
-€362,286
Other operating items
-€51,888
Financial income
-€688,506
Financial charges
+€1.5m
Taxes
-€367,448
Result 2025
€1.4m
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.
From operations
+€10.4m
Investment
-€408,663
Financing
-€10.0m
Cash 2024
€37,545
From operations (derived)
+€10.4m
Net result for the year
+€1.4m
Depreciation
+€1.5m
Stocks and contracts
-€685,211
Receivables within one year
+€10.3m
Deferred charges and accrued income
+€99,949
Provisions
-€401,820
Trade debts
-€1.9m
Tax, wage and social debts
+€73,144
Smaller working-capital items
+€10,283
Accrued charges and deferred income
-€37,759
Investment (derived)
-€408,663
Investment in fixed assets (net)
-€408,663
Financing
-€10.0m
Debts after one year
-€10.0m
Cash 2025
€32,982
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €83,621,578 | €72,817,072 | -€10.8m | -12.9% |
| Fixed assets | 21/28 | €27,726,176 | €26,609,884 | -€1.1m | -4.0% |
| Intangible fixed assets | 21 | €730,321 | €1,502,580 | +€772,259 | +105.7% |
| Tangible fixed assets | 22/27 | €4,312,192 | €4,672,582 | +€360,390 | +8.4% |
| Land and buildings | 22 | €7,549 | €5,853 | -€1,696 | -22.5% |
| Plant, machinery and equipment | 23 | €1,109,834 | €1,245,070 | +€135,236 | +12.2% |
| Furniture and vehicles | 24 | €2,219,238 | €2,726,855 | +€507,617 | +22.9% |
| Other tangible fixed assets | 26 | €711,337 | €674,584 | -€36,753 | -5.2% |
| Assets under construction and advance payments | 27 | €264,234 | €20,220 | -€244,014 | -92.3% |
| Financial fixed assets | 28 | €22,683,664 | €20,434,722 | -€2.2m | -9.9% |
| Affiliated companies | 280/1 | €20,328,184 | €20,133,818 | -€194,366 | -1.0% |
| Participating interests | 280 | €20,328,184 | €20,133,818 | -€194,366 | -1.0% |
| Other financial fixed assets | 284/8 | €2,355,480 | €300,905 | -€2.1m | -87.2% |
| Amounts receivable and cash guarantees | 285/8 | €2,355,480 | €300,905 | -€2.1m | -87.2% |
| Current assets | 29/58 | €55,895,402 | €46,207,188 | -€9.7m | -17.3% |
| Stocks and contracts in progress | 3 | €27,838,732 | €28,523,944 | +€685,211 | +2.5% |
| Stocks | 30/36 | €27,838,732 | €28,523,944 | +€685,211 | +2.5% |
| Raw materials and consumables | 30/31 | €2,590,695 | €2,399,055 | -€191,640 | -7.4% |
| Finished goods | 33 | €2,440,797 | €2,612,905 | +€172,108 | +7.1% |
| Goods purchased for resale | 34 | €22,807,241 | €23,511,984 | +€704,743 | +3.1% |
| Amounts receivable within one year | 40/41 | €27,635,295 | €17,366,381 | -€10.3m | -37.2% |
| Trade receivables | 40 | €9,610,754 | €9,172,129 | -€438,624 | -4.6% |
| Other amounts receivable | 41 | €18,024,541 | €8,194,252 | -€9.8m | -54.5% |
| Cash at bank and in hand | 54/58 | €37,545 | €32,982 | -€4,563 | -12.2% |
| Deferred charges and accrued income | 490/1 | €383,830 | €283,881 | -€99,949 | -26.0% |
| Total equity and liabilities | 10/49 | €83,621,578 | €72,817,072 | -€10.8m | -12.9% |
| Equity | 10/15 | €14,392,873 | €15,806,951 | +€1.4m | +9.8% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €4,106,423 | €4,106,423 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29,974 | €29,974 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Other | 1319 | €4,974 | €4,974 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,608,303 | €1,324,253 | -€1.3m | -49.2% |
| Distributable reserves | 133 | €1,468,146 | €2,752,196 | +€1.3m | +87.5% |
| Profit (loss) carried forward | 14 | €10,036,450 | €11,450,528 | +€1.4m | +14.1% |
| Provisions and deferred taxes | 16 | €566,066 | €164,246 | -€401,820 | -71.0% |
| Provisions for liabilities and charges | 160/5 | €566,066 | €164,246 | -€401,820 | -71.0% |
| Pensions and similar obligations | 160 | €166,066 | €164,246 | -€1,820 | -1.1% |
| Other liabilities and charges | 164/5 | €400,000 | - | -€400,000 | |
| Amounts payable | 17/49 | €68,662,639 | €56,845,875 | -€11.8m | -17.2% |
| Amounts payable after more than one year | 17 | €44,420,016 | €34,420,016 | -€10.0m | -22.5% |
| Financial debts | 170/4 | €44,420,016 | €34,420,016 | -€10.0m | -22.5% |
| Credit institutions | 173 | €44,420,016 | €34,420,016 | -€10.0m | -22.5% |
| Amounts payable within one year | 42/48 | €24,181,844 | €22,402,839 | -€1.8m | -7.4% |
| Trade debts | 44 | €18,993,285 | €17,130,853 | -€1.9m | -9.8% |
| Suppliers | 440/4 | €18,993,285 | €17,130,853 | -€1.9m | -9.8% |
| Advances received on contracts in progress | 46 | €104,255 | €112,503 | +€8,249 | +7.9% |
| Taxes, remuneration and social security | 45 | €5,083,129 | €5,156,273 | +€73,144 | +1.4% |
| Taxes | 450/3 | €2,086,969 | €2,130,359 | +€43,389 | +2.1% |
| Remuneration and social security | 454/9 | €2,996,159 | €3,025,914 | +€29,755 | +1.0% |
| Other amounts payable | 47/48 | €1,175 | €3,210 | +€2,035 | +173.2% |
| Accrued charges and deferred income | 492/3 | €60,780 | €23,021 | -€37,759 | -62.1% |
| Operating income | 70/76A | €184,256,910 | €183,841,221 | -€415,689 | -0.2% |
| Turnover | 70 | €182,546,841 | €181,639,694 | -€907,147 | -0.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €183,594 | €132,628 | -€50,966 | -27.8% |
| Other operating income | 74 | €1,396,172 | €1,861,236 | +€465,065 | +33.3% |
| Non-recurring operating income | 76A | €130,303 | €207,662 | +€77,359 | +59.4% |
| Operating charges | 60/66A | €181,074,099 | €180,018,300 | -€1.1m | -0.6% |
| Goods for resale, raw materials and consumables | 60 | €140,772,699 | €139,232,212 | -€1.5m | -1.1% |
| Purchases | 600/8 | €140,806,646 | €139,850,809 | -€955,837 | -0.7% |
| Change in stocks: decrease (increase) | 609 | -€33,947 | -€618,597 | -€584,650 | -1722.3% |
| Services and other goods | 61 | €18,801,215 | €18,448,091 | -€353,125 | -1.9% |
| Remuneration, social security and pensions | 62 | €18,287,360 | €19,209,312 | +€921,952 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,482,860 | €1,524,955 | +€42,095 | +2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €53,553 | €190,551 | +€136,998 | +255.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €301,979 | -€401,820 | -€703,800 | |
| Other operating charges | 640/8 | €820,388 | €1,182,674 | +€362,286 | +44.2% |
| Non-recurring operating charges | 66A | €554,045 | €632,326 | +€78,281 | +14.1% |
| Operating profit (loss) | 9901 | €3,182,811 | €3,822,921 | +€640,110 | +20.1% |
| Financial income | 75/76B | €2,772,719 | €2,084,214 | -€688,506 | -24.8% |
| Recurring financial income | 75 | €2,772,719 | €2,084,214 | -€688,506 | -24.8% |
| Income from financial fixed assets | 750 | €1,956 | - | -€1,956 | |
| Income from current assets | 751 | €759,662 | €252,464 | -€507,198 | -66.8% |
| Other financial income | 752/9 | €2,011,101 | €1,831,749 | -€179,352 | -8.9% |
| Financial charges | 65/66B | €5,337,782 | €3,796,652 | -€1.5m | -28.9% |
| Recurring financial charges | 65 | €5,337,782 | €3,796,652 | -€1.5m | -28.9% |
| Debt charges | 650 | €3,871,137 | €2,379,597 | -€1.5m | -38.5% |
| Other financial charges | 652/9 | €1,466,645 | €1,417,054 | -€49,591 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €617,748 | €2,110,483 | +€1.5m | +241.6% |
| Income taxes | 67/77 | €328,957 | €696,405 | +€367,448 | +111.7% |
| Taxes | 670/3 | €332,503 | €696,405 | +€363,902 | +109.4% |
| Tax adjustments and reversals of tax provisions | 77 | €3,546 | - | -€3,546 | |
| Profit (loss) for the period | 9904 | €288,791 | €1,414,078 | +€1.1m | +389.7% |
| Transfer from tax-exempt reserves | 789 | €1,410,350 | €1,284,050 | -€126,300 | -9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,699,141 | €2,698,128 | +€998,987 | +58.8% |
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 2 October 2026 via checked.be.