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 +€66,812
up €66,812 (+75.7%), from €88,303 to €155,115
mainly Net result for the year (+€67,173) and Tax, wage and social debts (+€19,851)
- Tangible fixed assets +€14,636
up €14,636 (+61.9%), from €23,649 to €38,285
of which Plant, machinery and equipment: +€8,023
- Receivables within one year +€4,700
up €4,700 (+12.5%), from €37,508 to €42,208
- Deferred charges and accrued income +€3,425
new in 2025: €3,425
- Reserves +€67,173
up €67,173 (+70.1%), from €95,800 to €162,973
- Tax, wage and social debts +€19,851
up €19,851 (+48.5%), from €40,960 to €60,811
- Trade debts +€6,446
up €6,446 (+337.0%), from €1,913 to €8,359
- Other debts -€3,897
down €3,897 (-67.3%), from €5,788 to €1,891
- Gross operating margin -€40,887
down €40,887 (-28.5%), from €143,284 to €102,397
- Taxes -€11,807
down €11,807 (-37.9%), from €31,165 to €19,358
- Depreciation +€7,053
up €7,053 (+194.2%), from €3,632 to €10,685
- Other operating charges -€3,987
down €3,987 (-52.3%), from €7,625 to €3,638
- Financial charges -€3,283
down €3,283 (-64.8%), from €5,062 to €1,780
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 | €149,460 | €239,033 | +€89,573 | +59.9% |
| Fixed assets | 21/28 | €23,649 | €38,285 | +€14,636 | +61.9% |
| Tangible fixed assets | 22/27 | €23,649 | €38,285 | +€14,636 | +61.9% |
| Plant, machinery and equipment | 23 | €5,808 | €13,831 | +€8,023 | +138.1% |
| Furniture and vehicles | 24 | €17,841 | €20,146 | +€2,305 | +12.9% |
| Other tangible fixed assets | 26 | - | €4,308 | +€4,308 | |
| Current assets | 29/58 | €125,811 | €200,748 | +€74,937 | +59.6% |
| Amounts receivable within one year | 40/41 | €37,508 | €42,208 | +€4,700 | +12.5% |
| Trade receivables | 40 | €37,508 | €42,208 | +€4,700 | +12.5% |
| Cash at bank and in hand | 54/58 | €88,303 | €155,115 | +€66,812 | +75.7% |
| Deferred charges and accrued income | 490/1 | - | €3,425 | +€3,425 | |
| Total equity and liabilities | 10/49 | €149,460 | €239,033 | +€89,573 | +59.9% |
| Equity | 10/15 | €100,800 | €167,973 | +€67,173 | +66.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €95,800 | €162,973 | +€67,173 | +70.1% |
| Distributable reserves | 133 | €95,800 | €162,973 | +€67,173 | +70.1% |
| Amounts payable | 17/49 | €48,661 | €71,060 | +€22,399 | +46.0% |
| Amounts payable within one year | 42/48 | €48,661 | €71,060 | +€22,399 | +46.0% |
| Trade debts | 44 | €1,913 | €8,359 | +€6,446 | +337.0% |
| Suppliers | 440/4 | €1,913 | €8,359 | +€6,446 | +337.0% |
| Taxes, remuneration and social security | 45 | €40,960 | €60,811 | +€19,851 | +48.5% |
| Taxes | 450/3 | €40,960 | €60,811 | +€19,851 | +48.5% |
| Other amounts payable | 47/48 | €5,788 | €1,891 | -€3,897 | -67.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,632 | €10,685 | +€7,053 | +194.2% |
| Other operating charges | 640/8 | €7,625 | €3,638 | -€3,987 | -52.3% |
| Gross operating margin | 9900 | €143,284 | €102,397 | -€40,887 | -28.5% |
| Operating profit (loss) | 9901 | €132,027 | €88,074 | -€43,953 | -33.3% |
| Financial income | 75/76B | - | €236 | +€236 | |
| Recurring financial income | 75 | - | €236 | +€236 | |
| Financial charges | 65/66B | €5,062 | €1,780 | -€3,283 | -64.8% |
| Recurring financial charges | 65 | €5,062 | €1,780 | -€3,283 | -64.8% |
| Profit (loss) for the period before taxes | 9903 | €126,964 | €86,531 | -€40,434 | -31.8% |
| Income taxes | 67/77 | €31,165 | €19,358 | -€11,807 | -37.9% |
| Profit (loss) for the period | 9904 | €95,800 | €67,173 | -€28,626 | -29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €95,800 | €67,173 | -€28,626 | -29.9% |
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 10 October 2026 via checked.be.