APOLLO: what changed
Two fiscal 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 +€31,834
up €31,834 (+18.1%), from €175,406 to €207,240
mainly Net result for the year (+€39,752) and Depreciation (+€19,318)
- Tangible fixed assets -€20,150
down €20,150 (-35.2%), from €57,176 to €37,027
of which Furniture and vehicles: -€19,950
- Deferred charges and accrued income +€3,526
up €3,526 (+145.1%), from €2,431 to €5,957
- Reserves +€39,752
up €39,752 (+23.0%), from €172,874 to €212,626
- Debts after one year -€14,980
down €14,980 (-49.0%), from €30,601 to €15,621
- Tax, wage and social debts -€7,877
down €7,877 (-30.1%), from €26,132 to €18,255
- Gross operating margin -€39,796
down €39,796 (-33.1%), from €120,173 to €80,377
- Taxes -€10,771
down €10,771 (-38.1%), from €28,274 to €17,504
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 | €257,939 | €273,688 | +€15,749 | +6.1% |
| Fixed assets | 21/28 | €57,176 | €37,027 | -€20,150 | -35.2% |
| Tangible fixed assets | 22/27 | €57,176 | €37,027 | -€20,150 | -35.2% |
| Furniture and vehicles | 24 | €55,616 | €35,667 | -€19,950 | -35.9% |
| Other tangible fixed assets | 26 | €1,560 | €1,360 | -€200 | -12.8% |
| Current assets | 29/58 | €200,762 | €236,661 | +€35,899 | +17.9% |
| Amounts receivable within one year | 40/41 | €22,926 | €23,465 | +€539 | +2.4% |
| Trade receivables | 40 | €21,296 | €22,627 | +€1,331 | +6.3% |
| Other amounts receivable | 41 | €1,630 | €838 | -€792 | -48.6% |
| Cash at bank and in hand | 54/58 | €175,406 | €207,240 | +€31,834 | +18.1% |
| Deferred charges and accrued income | 490/1 | €2,431 | €5,957 | +€3,526 | +145.1% |
| Total equity and liabilities | 10/49 | €257,939 | €273,688 | +€15,749 | +6.1% |
| Equity | 10/15 | €182,874 | €222,626 | +€39,752 | +21.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €172,874 | €212,626 | +€39,752 | +23.0% |
| Distributable reserves | 133 | €172,874 | €212,626 | +€39,752 | +23.0% |
| Amounts payable | 17/49 | €75,065 | €51,062 | -€24,002 | -32.0% |
| Amounts payable after more than one year | 17 | €30,601 | €15,621 | -€14,980 | -49.0% |
| Financial debts | 170/4 | €30,601 | €15,621 | -€14,980 | -49.0% |
| Amounts payable within one year | 42/48 | €44,464 | €35,442 | -€9,022 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €14,366 | €14,980 | +€614 | +4.3% |
| Financial debts | 43 | €266 | €878 | +€612 | +229.8% |
| Credit institutions | 430/8 | €266 | €878 | +€612 | +229.8% |
| Trade debts | 44 | €3,699 | €1,328 | -€2,371 | -64.1% |
| Suppliers | 440/4 | €3,699 | €1,328 | -€2,371 | -64.1% |
| Taxes, remuneration and social security | 45 | €26,132 | €18,255 | -€7,877 | -30.1% |
| Taxes | 450/3 | €26,132 | €18,255 | -€7,877 | -30.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,483 | €19,318 | -€166 | -0.9% |
| Other operating charges | 640/8 | €1,689 | €1,229 | -€460 | -27.2% |
| Non-recurring operating charges | 66A | - | €832 | +€832 | |
| Gross operating margin | 9900 | €120,173 | €80,377 | -€39,796 | -33.1% |
| Operating profit (loss) | 9901 | €99,000 | €58,998 | -€40,002 | -40.4% |
| Financial income | 75/76B | €0 | €34 | +€34 | |
| Recurring financial income | 75 | €0 | €34 | +€34 | |
| Financial charges | 65/66B | €2,371 | €1,777 | -€594 | -25.0% |
| Recurring financial charges | 65 | €2,371 | €1,777 | -€594 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €96,629 | €57,255 | -€39,374 | -40.7% |
| Income taxes | 67/77 | €28,274 | €17,504 | -€10,771 | -38.1% |
| Profit (loss) for the period | 9904 | €68,355 | €39,752 | -€28,603 | -41.8% |
| Profit (loss) for the period to be appropriated | 9905 | €68,355 | €39,752 | -€28,603 | -41.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.