APOLLO: 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.
APOLLO
Largest movements
- Cash -€165,601
down €165,601 (-98.2%), from €168,581 to €2,980
mainly Receivables within one year (-€72,961) and Tax, wage and social debts (-€35,786)
- Receivables within one year +€72,961
up €72,961 (+106%), from €68,986 to €141,947
of which Other amounts receivable: +€89,928
- Tax, wage and social debts -€35,786
no longer reported in 2025 (was €35,786)
- Trade debts -€31,768
down €31,768 (-63.8%), from €49,779 to €18,011
- Profit (loss) carried forward -€22,831
down €22,831 (-17.4%), from €131,502 to €108,671
- Financial income -€234,236
down €234,236 (-99.9%), from €234,520 to €284
of which Financial income: -€234,236
- Taxes -€32,488
down €32,488 (-91.0%), from €35,701 to €3,213
- Financial charges -€16,568
down €16,568 (-98.0%), from €16,903 to €335
- Depreciation -€7,687
down €7,687 (-87.5%), from €8,787 to €1,100
- Other operating charges -€3,989
down €3,989 (-97.9%), from €4,074 to €85
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 | €237,567 | €147,126 | -€90,441 | -38.1% |
| Fixed assets | 21/28 | - | €2,199 | +€2,199 | |
| Tangible fixed assets | 22/27 | - | €2,199 | +€2,199 | |
| Furniture and vehicles | 24 | - | €2,199 | +€2,199 | |
| Current assets | 29/58 | €237,567 | €144,927 | -€92,640 | -39.0% |
| Amounts receivable within one year | 40/41 | €68,986 | €141,947 | +€72,961 | +106% |
| Trade receivables | 40 | €36,402 | €19,435 | -€16,967 | -46.6% |
| Other amounts receivable | 41 | €32,584 | €122,512 | +€89,928 | +276% |
| Cash at bank and in hand | 54/58 | €168,581 | €2,980 | -€165,601 | -98.2% |
| Total equity and liabilities | 10/49 | €237,567 | €147,126 | -€90,441 | -38.1% |
| Equity | 10/15 | €151,946 | €129,115 | -€22,831 | -15.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,852 | €1,852 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,852 | €1,852 | = | 0.0% |
| Legal reserve | 130 | €1,852 | €1,852 | = | 0.0% |
| Profit (loss) carried forward | 14 | €131,502 | €108,671 | -€22,831 | -17.4% |
| Amounts payable | 17/49 | €85,621 | €18,011 | -€67,610 | -79.0% |
| Amounts payable within one year | 42/48 | €85,565 | €18,011 | -€67,554 | -79.0% |
| Trade debts | 44 | €49,779 | €18,011 | -€31,768 | -63.8% |
| Suppliers | 440/4 | €49,779 | €18,011 | -€31,768 | -63.8% |
| Taxes, remuneration and social security | 45 | €35,786 | - | -€35,786 | |
| Taxes | 450/3 | €35,786 | - | -€35,786 | |
| Accrued charges and deferred income | 492/3 | €56 | - | -€56 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,787 | €1,100 | -€7,687 | -87.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €765 | - | -€765 | |
| Other operating charges | 640/8 | €4,074 | €85 | -€3,989 | -97.9% |
| Gross operating margin | 9900 | -€16,139 | -€18,382 | -€2,243 | -13.9% |
| Operating profit (loss) | 9901 | -€29,765 | -€19,567 | +€10,198 | +34.3% |
| Financial income | 75/76B | €234,520 | €284 | -€234,236 | -99.9% |
| Recurring financial income | 75 | €234,520 | €284 | -€234,236 | -99.9% |
| Non-recurring financial income | 76B | €234,520 | €284 | -€234,236 | -99.9% |
| Financial charges | 65/66B | €16,903 | €335 | -€16,568 | -98.0% |
| Recurring financial charges | 65 | €16,903 | €335 | -€16,568 | -98.0% |
| Profit (loss) for the period before taxes | 9903 | €187,852 | -€19,618 | -€207,470 | |
| Income taxes | 67/77 | €35,701 | €3,213 | -€32,488 | -91.0% |
| Profit (loss) for the period | 9904 | €152,151 | -€22,831 | -€174,982 | |
| Profit (loss) for the period to be appropriated | 9905 | €152,151 | -€22,831 | -€174,982 |
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 15 October 2026 via checked.be.