APOLLO 11: 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 11
Largest movements
- Tangible fixed assets +€26,723
up €26,723 (+165.6%), from €16,139 to €42,862
of which Furniture and vehicles: +€22,211
- Stocks and contracts +€10,600
new in 2025: €10,600
- Receivables within one year +€7,597
up €7,597 (+303.9%), from €2,500 to €10,097
of which Trade receivables: +€5,672
- Cash +€1,761
up €1,761 (+302.7%), from €582 to €2,343
mainly Other debts (+€70,476) and Depreciation (+€5,587)
- Other debts +€70,476
up €70,476 (+120.0%), from €58,712 to €129,188
- Profit (loss) carried forward -€21,981
down €21,981 (-50.9%), from -€43,151 to -€65,132
- Trade debts -€2,039
down €2,039 (-61.7%), from €3,305 to €1,266
- Financial income +€1,774
new in 2025: €1,774
of which Financial income: +€1,774
- Gross operating margin +€1,579
up €1,579 (+8.4%), from -€18,826 to -€17,248
- Depreciation +€1,128
up €1,128 (+25.3%), from €4,459 to €5,587
- Other operating charges +€411
up €411 (+102.7%), from €400 to €811
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 | €23,866 | €70,322 | +€46,456 | +194.7% |
| Formation expenses | 20 | €225 | - | -€225 | |
| Fixed assets | 21/28 | €20,559 | €47,282 | +€26,723 | +130.0% |
| Tangible fixed assets | 22/27 | €16,139 | €42,862 | +€26,723 | +165.6% |
| Plant, machinery and equipment | 23 | - | €4,512 | +€4,512 | |
| Furniture and vehicles | 24 | €16,139 | €38,350 | +€22,211 | +137.6% |
| Financial fixed assets | 28 | €4,420 | €4,420 | = | 0.0% |
| Current assets | 29/58 | €3,082 | €23,040 | +€19,958 | +647.6% |
| Stocks and contracts in progress | 3 | - | €10,600 | +€10,600 | |
| Stocks | 30/36 | - | €10,600 | +€10,600 | |
| Amounts receivable within one year | 40/41 | €2,500 | €10,097 | +€7,597 | +303.9% |
| Trade receivables | 40 | - | €5,672 | +€5,672 | |
| Other amounts receivable | 41 | €2,500 | €4,425 | +€1,925 | +77.0% |
| Cash at bank and in hand | 54/58 | €582 | €2,343 | +€1,761 | +302.7% |
| Total equity and liabilities | 10/49 | €23,866 | €70,322 | +€46,456 | +194.7% |
| Equity | 10/15 | -€38,151 | -€60,132 | -€21,981 | -57.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,151 | -€65,132 | -€21,981 | -50.9% |
| Amounts payable | 17/49 | €62,016 | €130,453 | +€68,437 | +110.4% |
| Amounts payable within one year | 42/48 | €62,016 | €130,453 | +€68,437 | +110.4% |
| Trade debts | 44 | €3,305 | €1,266 | -€2,039 | -61.7% |
| Suppliers | 440/4 | €3,305 | €1,266 | -€2,039 | -61.7% |
| Other amounts payable | 47/48 | €58,712 | €129,188 | +€70,476 | +120.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,459 | €5,587 | +€1,128 | +25.3% |
| Other operating charges | 640/8 | €400 | €811 | +€411 | +102.7% |
| Gross operating margin | 9900 | -€18,826 | -€17,248 | +€1,579 | +8.4% |
| Operating profit (loss) | 9901 | -€23,686 | -€23,646 | +€40 | +0.2% |
| Financial income | 75/76B | - | €1,774 | +€1,774 | |
| Recurring financial income | 75 | - | €1,774 | +€1,774 | |
| Non-recurring financial income | 76B | - | €1,774 | +€1,774 | |
| Financial charges | 65/66B | €78 | €109 | +€31 | +39.1% |
| Recurring financial charges | 65 | €78 | €109 | +€31 | +39.1% |
| Profit (loss) for the period before taxes | 9903 | -€23,764 | -€21,981 | +€1,783 | +7.5% |
| Profit (loss) for the period | 9904 | -€23,764 | -€21,981 | +€1,783 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,764 | -€21,981 | +€1,783 | +7.5% |
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 11 October 2026 via checked.be.