Apollo Finance: 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 Finance
Largest movements
- Current investments -€48,058
down €48,058 (-100%), from €48,058 to €0
- Cash +€47,228
up €47,228 (+275%), from €17,204 to €64,432
mainly Current investments (+€48,058) and Other debts (+€38,665)
- Tangible fixed assets +€4,879
up €4,879 (+13.4%), from €36,449 to €41,328
of which Other tangible fixed assets: +€17,806
- Intangible fixed assets -€2,529
down €2,529 (-20.0%), from €12,636 to €10,108
- Receivables within one year -€1,944
down €1,944 (-4.0%), from €48,037 to €46,094
of which Trade receivables: -€1,375
- Reserves -€65,026
down €65,026 (-100%), from €65,026 to €0
- Other debts +€38,665
up €38,665 (+113%), from €34,123 to €72,788
- Debts after one year +€29,813
up €29,813 (+251%), from €11,892 to €41,705
- Trade debts -€12,253
down €12,253 (-80.9%), from €15,140 to €2,887
- Tax, wage and social debts +€8,295
up €8,295 (+96.4%), from €8,604 to €16,898
- Gross operating margin +€32,395
up €32,395 (+48.7%), from €66,562 to €98,958
- Financial charges +€13,395
up €13,395 (+55.0%), from €24,362 to €37,757
of which Financial charges: +€13,395
- Depreciation +€4,938
up €4,938 (+37.7%), from €13,082 to €18,020
- Taxes +€2,657
up €2,657 (+42.3%), from €6,275 to €8,933
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 | €163,499 | €163,065 | -€434 | -0.3% |
| Fixed assets | 21/28 | €49,085 | €51,436 | +€2,351 | +4.8% |
| Intangible fixed assets | 21 | €12,636 | €10,108 | -€2,529 | -20.0% |
| Tangible fixed assets | 22/27 | €36,449 | €41,328 | +€4,879 | +13.4% |
| Furniture and vehicles | 24 | €32,393 | €19,466 | -€12,927 | -39.9% |
| Other tangible fixed assets | 26 | €4,057 | €21,863 | +€17,806 | +439% |
| Current assets | 29/58 | €114,414 | €111,630 | -€2,784 | -2.4% |
| Amounts receivable within one year | 40/41 | €48,037 | €46,094 | -€1,944 | -4.0% |
| Trade receivables | 40 | €45,328 | €43,953 | -€1,375 | -3.0% |
| Other amounts receivable | 41 | €2,709 | €2,140 | -€569 | -21.0% |
| Current investments | 50/53 | €48,058 | €0 | -€48,058 | -100% |
| Cash at bank and in hand | 54/58 | €17,204 | €64,432 | +€47,228 | +275% |
| Deferred charges and accrued income | 490/1 | €1,115 | €1,104 | -€10 | -0.9% |
| Total equity and liabilities | 10/49 | €163,499 | €163,065 | -€434 | -0.3% |
| Equity | 10/15 | €83,626 | €18,600 | -€65,026 | -77.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €65,026 | €0 | -€65,026 | -100% |
| Distributable reserves | 133 | €65,026 | €0 | -€65,026 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €79,873 | €144,465 | +€64,593 | +80.9% |
| Amounts payable after more than one year | 17 | €11,892 | €41,705 | +€29,813 | +251% |
| Financial debts | 170/4 | €11,892 | €41,705 | +€29,813 | +251% |
| Amounts payable within one year | 42/48 | €67,981 | €102,760 | +€34,780 | +51.2% |
| Current portion of amounts payable after more than one year | 42 | €10,114 | €10,187 | +€73 | +0.7% |
| Trade debts | 44 | €15,140 | €2,887 | -€12,253 | -80.9% |
| Suppliers | 440/4 | €15,140 | €2,887 | -€12,253 | -80.9% |
| Taxes, remuneration and social security | 45 | €8,604 | €16,898 | +€8,295 | +96.4% |
| Taxes | 450/3 | €8,604 | €16,898 | +€8,295 | +96.4% |
| Other amounts payable | 47/48 | €34,123 | €72,788 | +€38,665 | +113% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,082 | €18,020 | +€4,938 | +37.7% |
| Other operating charges | 640/8 | €1,550 | €1,383 | -€168 | -10.8% |
| Non-recurring operating charges | 66A | €526 | €0 | -€526 | -100% |
| Gross operating margin | 9900 | €66,562 | €98,958 | +€32,395 | +48.7% |
| Operating profit (loss) | 9901 | €51,404 | €79,555 | +€28,152 | +54.8% |
| Financial income | 75/76B | €131 | €669 | +€538 | +413% |
| Recurring financial income | 75 | €131 | €669 | +€538 | +413% |
| Financial charges | 65/66B | €24,362 | €37,757 | +€13,395 | +55.0% |
| Recurring financial charges | 65 | €24,362 | €37,757 | +€13,395 | +55.0% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €27,172 | €42,467 | +€15,295 | +56.3% |
| Income taxes | 67/77 | €6,275 | €8,933 | +€2,657 | +42.3% |
| Profit (loss) for the period | 9904 | €20,896 | €33,534 | +€12,638 | +60.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,896 | €33,534 | +€12,638 | +60.5% |
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 29 October 2026 via checked.be.