APOLEX: 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.
APOLEX
Largest movements
- Cash +€89,004
up €89,004 (+103.5%), from €85,957 to €174,962
mainly Net result for the year (+€229,606) and Tax, wage and social debts (+€37,522)
- Receivables within one year +€55,084
up €55,084 (+30.2%), from €182,451 to €237,535
of which Other amounts receivable: +€45,041
- Reserves +€229,606
up €229,606 (+21.1%), from €1.1m to €1.3m
- Other debts -€133,001
down €133,001 (-60.2%), from €221,006 to €88,005
- Tax, wage and social debts +€37,522
up €37,522 (+348.6%), from €10,765 to €48,287
- Gross operating margin +€7,045
up €7,045 (+6.3%), from €111,308 to €118,353
- Taxes +€3,509
up €3,509 (+7.8%), from €44,814 to €48,323
- Depreciation +€2,195
up €2,195 (+42.4%), from €5,175 to €7,370
- Financial income -€1,938
down €1,938 (-1.1%), from €171,538 to €169,601
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 | €1,331,666 | €1,466,802 | +€135,136 | +10.1% |
| Fixed assets | 21/28 | €981,676 | €974,306 | -€7,370 | -0.8% |
| Tangible fixed assets | 22/27 | €31,676 | €24,306 | -€7,370 | -23.3% |
| Furniture and vehicles | 24 | €31,676 | €24,306 | -€7,370 | -23.3% |
| Financial fixed assets | 28 | €950,000 | €950,000 | = | 0.0% |
| Current assets | 29/58 | €349,990 | €492,496 | +€142,507 | +40.7% |
| Amounts receivable within one year | 40/41 | €182,451 | €237,535 | +€55,084 | +30.2% |
| Trade receivables | 40 | €172,200 | €182,243 | +€10,043 | +5.8% |
| Other amounts receivable | 41 | €10,251 | €55,292 | +€45,041 | +439.4% |
| Current investments | 50/53 | €80,000 | €80,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €85,957 | €174,962 | +€89,004 | +103.5% |
| Deferred charges and accrued income | 490/1 | €1,582 | - | -€1,582 | |
| Total equity and liabilities | 10/49 | €1,331,666 | €1,466,802 | +€135,136 | +10.1% |
| Equity | 10/15 | €1,093,826 | €1,323,431 | +€229,606 | +21.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,087,626 | €1,317,231 | +€229,606 | +21.1% |
| Distributable reserves | 133 | €1,087,626 | €1,317,231 | +€229,606 | +21.1% |
| Amounts payable | 17/49 | €237,841 | €143,371 | -€94,470 | -39.7% |
| Amounts payable within one year | 42/48 | €237,841 | €142,073 | -€95,768 | -40.3% |
| Trade debts | 44 | €6,070 | €5,780 | -€290 | -4.8% |
| Suppliers | 440/4 | €6,070 | €5,780 | -€290 | -4.8% |
| Taxes, remuneration and social security | 45 | €10,765 | €48,287 | +€37,522 | +348.6% |
| Taxes | 450/3 | €10,765 | €48,287 | +€37,522 | +348.6% |
| Other amounts payable | 47/48 | €221,006 | €88,005 | -€133,001 | -60.2% |
| Accrued charges and deferred income | 492/3 | - | €1,298 | +€1,298 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,175 | €7,370 | +€2,195 | +42.4% |
| Other operating charges | 640/8 | €1,297 | €2,149 | +€853 | +65.8% |
| Gross operating margin | 9900 | €111,308 | €118,353 | +€7,045 | +6.3% |
| Operating profit (loss) | 9901 | €104,836 | €108,833 | +€3,997 | +3.8% |
| Financial income | 75/76B | €171,538 | €169,601 | -€1,938 | -1.1% |
| Recurring financial income | 75 | €171,538 | €169,601 | -€1,938 | -1.1% |
| Financial charges | 65/66B | €644 | €505 | -€139 | -21.6% |
| Recurring financial charges | 65 | €644 | €505 | -€139 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €275,730 | €277,929 | +€2,198 | +0.8% |
| Income taxes | 67/77 | €44,814 | €48,323 | +€3,509 | +7.8% |
| Profit (loss) for the period | 9904 | €230,917 | €229,606 | -€1,311 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €230,917 | €229,606 | -€1,311 | -0.6% |
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 9 October 2026 via checked.be.