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
- Tangible fixed assets +€28,128
up €28,128 (+719%), from €3,910 to €32,039
of which Plant, machinery and equipment: +€28,436
- Cash -€4,800
down €4,800 (-13.3%), from €36,207 to €31,407
mainly Investment in fixed assets (net) (-€29,580) and Receivables within one year (-€2,698)
- Receivables within one year +€2,698
up €2,698 (+4.0%), from €67,158 to €69,855
- Trade debts +€16,346
up €16,346 (+501%), from €3,261 to €19,608
- Profit (loss) carried forward +€9,059
up €9,059 (+16.8%), from €53,868 to €62,927
- Gross operating margin -€22,278
down €22,278 (-59.4%), from €37,483 to €15,206
- Taxes -€6,978
down €6,978 (-72.4%), from €9,642 to €2,664
- Other operating charges +€719
up €719 (+192%), from €375 to €1,094
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 | €114,969 | €141,762 | +€26,793 | +23.3% |
| Fixed assets | 21/28 | €4,772 | €32,900 | +€28,128 | +589% |
| Tangible fixed assets | 22/27 | €3,910 | €32,039 | +€28,128 | +719% |
| Land and buildings | 22 | €1,955 | €1,647 | -€307 | -15.7% |
| Plant, machinery and equipment | 23 | €1,956 | €30,391 | +€28,436 | +1,454% |
| Financial fixed assets | 28 | €861 | €861 | = | 0.0% |
| Current assets | 29/58 | €110,197 | €108,862 | -€1,335 | -1.2% |
| Stocks and contracts in progress | 3 | €6,833 | €7,600 | +€767 | +11.2% |
| Stocks | 30/36 | €6,833 | €7,600 | +€767 | +11.2% |
| Amounts receivable within one year | 40/41 | €67,158 | €69,855 | +€2,698 | +4.0% |
| Other amounts receivable | 41 | €67,158 | €69,855 | +€2,698 | +4.0% |
| Cash at bank and in hand | 54/58 | €36,207 | €31,407 | -€4,800 | -13.3% |
| Total equity and liabilities | 10/49 | €114,969 | €141,762 | +€26,793 | +23.3% |
| Equity | 10/15 | €100,789 | €109,848 | +€9,059 | +9.0% |
| 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 | €28,329 | €28,329 | = | 0.0% |
| Non-distributable reserves | 130/1 | €497 | €497 | = | 0.0% |
| Legal reserve | 130 | €497 | €497 | = | 0.0% |
| Distributable reserves | 133 | €27,832 | €27,832 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,868 | €62,927 | +€9,059 | +16.8% |
| Amounts payable | 17/49 | €14,180 | €31,914 | +€17,734 | +125% |
| Amounts payable within one year | 42/48 | €14,180 | €31,914 | +€17,734 | +125% |
| Trade debts | 44 | €3,261 | €19,608 | +€16,346 | +501% |
| Suppliers | 440/4 | €3,261 | €19,608 | +€16,346 | +501% |
| Taxes, remuneration and social security | 45 | €10,918 | €12,306 | +€1,388 | +12.7% |
| Taxes | 450/3 | €10,918 | €12,306 | +€1,388 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,176 | €1,452 | +€276 | +23.5% |
| Other operating charges | 640/8 | €375 | €1,094 | +€719 | +192% |
| Gross operating margin | 9900 | €37,483 | €15,206 | -€22,278 | -59.4% |
| Operating profit (loss) | 9901 | €35,933 | €12,660 | -€23,273 | -64.8% |
| Financial income | 75/76B | €8 | €2 | -€6 | -71.4% |
| Recurring financial income | 75 | €8 | €2 | -€6 | -71.4% |
| Financial charges | 65/66B | €701 | €939 | +€238 | +33.9% |
| Recurring financial charges | 65 | €701 | €939 | +€238 | +33.9% |
| Profit (loss) for the period before taxes | 9903 | €35,239 | €11,723 | -€23,517 | -66.7% |
| Income taxes | 67/77 | €9,642 | €2,664 | -€6,978 | -72.4% |
| Profit (loss) for the period | 9904 | €25,597 | €9,059 | -€16,538 | -64.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,597 | €9,059 | -€16,538 | -64.6% |
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 16 October 2026 via checked.be.