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
- Receivables within one year +€143,768
up €143,768 (+209.6%), from €68,578 to €212,346
of which Other amounts receivable: +€134,131
- Tangible fixed assets -€54,311
down €54,311 (-12.7%), from €428,977 to €374,666
of which Land and buildings: -€47,480
- Cash +€7,865
up €7,865 (+31.8%), from €24,747 to €32,613
mainly Net result for the year (+€77,781) and Depreciation (+€58,145)
- Profit (loss) carried forward +€77,781
up €77,781 (+198.0%), from €39,274 to €117,056
- Tax, wage and social debts +€30,038
up €30,038 (+240.4%), from €12,495 to €42,533
- Provisions -€8,106
down €8,106 (-25.0%), from €32,423 to €24,317
- Gross operating margin +€22,137
up €22,137 (+13.9%), from €159,755 to €181,892
- Taxes +€12,761
up €12,761 (+59.1%), from €21,610 to €34,371
- Depreciation +€1,923
up €1,923 (+3.4%), from €56,222 to €58,145
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 | €522,302 | €623,345 | +€101,043 | +19.3% |
| Fixed assets | 21/28 | €428,977 | €374,666 | -€54,311 | -12.7% |
| Tangible fixed assets | 22/27 | €428,977 | €374,666 | -€54,311 | -12.7% |
| Land and buildings | 22 | €400,984 | €353,505 | -€47,480 | -11.8% |
| Plant, machinery and equipment | 23 | €27,992 | €21,162 | -€6,831 | -24.4% |
| Current assets | 29/58 | €93,325 | €248,679 | +€155,354 | +166.5% |
| Amounts receivable within one year | 40/41 | €68,578 | €212,346 | +€143,768 | +209.6% |
| Trade receivables | 40 | - | €9,637 | +€9,637 | |
| Other amounts receivable | 41 | €68,578 | €202,709 | +€134,131 | +195.6% |
| Cash at bank and in hand | 54/58 | €24,747 | €32,613 | +€7,865 | +31.8% |
| Deferred charges and accrued income | 490/1 | - | €3,720 | +€3,720 | |
| Total equity and liabilities | 10/49 | €522,302 | €623,345 | +€101,043 | +19.3% |
| Equity | 10/15 | €451,474 | €529,256 | +€77,781 | +17.2% |
| Contributions | 10/11 | €102,000 | €102,000 | = | 0.0% |
| Capital | 10 | €102,000 | €102,000 | = | 0.0% |
| Issued capital | 100 | €102,000 | €102,000 | = | 0.0% |
| Reserves | 13 | €310,200 | €310,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,200 | €10,200 | = | 0.0% |
| Legal reserve | 130 | €10,200 | €10,200 | = | 0.0% |
| Distributable reserves | 133 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,274 | €117,056 | +€77,781 | +198.0% |
| Provisions and deferred taxes | 16 | €32,423 | €24,317 | -€8,106 | -25.0% |
| Deferred taxes | 168 | €32,423 | €24,317 | -€8,106 | -25.0% |
| Amounts payable | 17/49 | €38,405 | €69,773 | +€31,368 | +81.7% |
| Amounts payable after more than one year | 17 | €20,274 | €20,274 | = | 0.0% |
| Other amounts payable | 178/9 | €20,274 | €20,274 | = | 0.0% |
| Amounts payable within one year | 42/48 | €18,131 | €46,480 | +€28,349 | +156.4% |
| Trade debts | 44 | €5,636 | €3,947 | -€1,689 | -30.0% |
| Suppliers | 440/4 | €5,636 | €3,947 | -€1,689 | -30.0% |
| Taxes, remuneration and social security | 45 | €12,495 | €42,533 | +€30,038 | +240.4% |
| Taxes | 450/3 | €12,495 | €42,533 | +€30,038 | +240.4% |
| Accrued charges and deferred income | 492/3 | - | €3,019 | +€3,019 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,222 | €58,145 | +€1,923 | +3.4% |
| Other operating charges | 640/8 | €18,823 | €19,413 | +€590 | +3.1% |
| Gross operating margin | 9900 | €159,755 | €181,892 | +€22,137 | +13.9% |
| Operating profit (loss) | 9901 | €84,710 | €104,333 | +€19,623 | +23.2% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €956 | €288 | -€668 | -69.9% |
| Recurring financial charges | 65 | €956 | €288 | -€668 | -69.9% |
| Profit (loss) for the period before taxes | 9903 | €83,755 | €104,046 | +€20,292 | +24.2% |
| Transfer from deferred taxes | 780 | - | €8,106 | +€8,106 | |
| Income taxes | 67/77 | €21,610 | €34,371 | +€12,761 | +59.1% |
| Profit (loss) for the period | 9904 | €62,145 | €77,781 | +€15,637 | +25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €62,145 | €77,781 | +€15,637 | +25.2% |
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.