APOLLINE: 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.
APOLLINE
Largest movements
- Cash -€21,163
down €21,163 (-54.0%), from €39,224 to €18,061
mainly Contributions, distributions and other (-€163,000) and Investment in fixed assets (net) (-€57,342)
- Current investments +€20,520
up €20,520 (+15.8%), from €130,173 to €150,693
- Tangible fixed assets +€12,517
up €12,517 (+4.5%), from €278,263 to €290,781
of which Furniture and vehicles: +€27,614
- Receivables within one year +€6,051
up €6,051 (+21.0%), from €28,823 to €34,874
of which Other amounts receivable: +€5,205
- Deferred charges and accrued income +€5,558
up €5,558 (+359.7%), from €1,545 to €7,103
- Other debts +€142,083
up €142,083 (+317.9%), from €44,695 to €186,778
- Reserves -€119,000
down €119,000 (-36.7%), from €324,000 to €205,000
- Financial charges +€35,508
up €35,508 (+59.3%), from €59,899 to €95,407
- Depreciation +€17,831
up €17,831 (+68.0%), from €26,204 to €44,036
- Gross operating margin +€10,864
up €10,864 (+5.4%), from €200,839 to €211,703
- Taxes -€10,508
down €10,508 (-39.6%), from €26,552 to €16,044
- Provisions -€5,133
down €5,133, from €2,161 to -€2,972
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 | €478,862 | €503,284 | +€24,422 | +5.1% |
| Fixed assets | 21/28 | €278,597 | €291,903 | +€13,306 | +4.8% |
| Intangible fixed assets | 21 | - | €789 | +€789 | |
| Tangible fixed assets | 22/27 | €278,263 | €290,781 | +€12,517 | +4.5% |
| Land and buildings | 22 | €211,719 | €201,651 | -€10,068 | -4.8% |
| Plant, machinery and equipment | 23 | €46,776 | €41,748 | -€5,028 | -10.7% |
| Furniture and vehicles | 24 | €19,768 | €47,382 | +€27,614 | +139.7% |
| Financial fixed assets | 28 | €334 | €334 | = | 0.0% |
| Current assets | 29/58 | €200,265 | €211,381 | +€11,116 | +5.6% |
| Stocks and contracts in progress | 3 | €500 | €650 | +€150 | +30.0% |
| Stocks | 30/36 | €500 | €650 | +€150 | +30.0% |
| Amounts receivable within one year | 40/41 | €28,823 | €34,874 | +€6,051 | +21.0% |
| Trade receivables | 40 | €6,152 | €6,997 | +€845 | +13.7% |
| Other amounts receivable | 41 | €22,671 | €27,877 | +€5,205 | +23.0% |
| Current investments | 50/53 | €130,173 | €150,693 | +€20,520 | +15.8% |
| Cash at bank and in hand | 54/58 | €39,224 | €18,061 | -€21,163 | -54.0% |
| Deferred charges and accrued income | 490/1 | €1,545 | €7,103 | +€5,558 | +359.7% |
| Total equity and liabilities | 10/49 | €478,862 | €503,284 | +€24,422 | +5.1% |
| Equity | 10/15 | €353,237 | €235,454 | -€117,783 | -33.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €324,000 | €205,000 | -€119,000 | -36.7% |
| Distributable reserves | 133 | €324,000 | €205,000 | -€119,000 | -36.7% |
| Profit (loss) carried forward | 14 | €9,237 | €10,454 | +€1,217 | +13.2% |
| Provisions and deferred taxes | 16 | €72,981 | €70,009 | -€2,972 | -4.1% |
| Provisions for liabilities and charges | 160/5 | €72,981 | €70,009 | -€2,972 | -4.1% |
| Other liabilities and charges | 164/5 | €72,981 | €70,009 | -€2,972 | -4.1% |
| Amounts payable | 17/49 | €52,645 | €197,821 | +€145,177 | +275.8% |
| Amounts payable within one year | 42/48 | €52,599 | €197,820 | +€145,221 | +276.1% |
| Trade debts | 44 | €2,862 | €4,871 | +€2,009 | +70.2% |
| Suppliers | 440/4 | €2,862 | €4,871 | +€2,009 | +70.2% |
| Taxes, remuneration and social security | 45 | €5,043 | €6,171 | +€1,129 | +22.4% |
| Remuneration and social security | 454/9 | €5,043 | €6,171 | +€1,129 | +22.4% |
| Other amounts payable | 47/48 | €44,695 | €186,778 | +€142,083 | +317.9% |
| Accrued charges and deferred income | 492/3 | €45 | €2 | -€44 | -96.6% |
| Remuneration, social security and pensions | 62 | €13,509 | €12,518 | -€991 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,204 | €44,036 | +€17,831 | +68.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,161 | -€2,972 | -€5,133 | |
| Other operating charges | 640/8 | €3,056 | €2,915 | -€141 | -4.6% |
| Gross operating margin | 9900 | €200,839 | €211,703 | +€10,864 | +5.4% |
| Operating profit (loss) | 9901 | €155,910 | €155,206 | -€704 | -0.5% |
| Financial income | 75/76B | €426 | €1,462 | +€1,036 | +243.5% |
| Recurring financial income | 75 | €426 | €1,462 | +€1,036 | +243.5% |
| Financial charges | 65/66B | €59,899 | €95,407 | +€35,508 | +59.3% |
| Recurring financial charges | 65 | €59,899 | €95,407 | +€35,508 | +59.3% |
| Profit (loss) for the period before taxes | 9903 | €96,436 | €61,261 | -€35,175 | -36.5% |
| Income taxes | 67/77 | €26,552 | €16,044 | -€10,508 | -39.6% |
| Profit (loss) for the period | 9904 | €69,884 | €45,217 | -€24,667 | -35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,884 | €45,217 | -€24,667 | -35.3% |
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 11 October 2026 via checked.be.