Apollo Finco: 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.
What changed
Apollo Finco
NACE 66.199, Other activities auxiliary to financial services, excluding insurance and pension funding
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€4.3m
2024 · -€2.2m-€2.1m
Equity
-€8.0m
2024 · -€3.7m-€4.3m
Cash
€578,067
2024 · €3.5m-€2.9m
Balance sheet total
€492.0m
2024 · €477.0m+€15.0m
Largest movements
Assets
- Financial fixed assets +€18.7m
up €18.7m (+4.1%), from €457.4m to €476.0m
of which Affiliated companies: +€18.7m
Equity and liabilities
- Other debts +€37.8m
up €37.8m (+261.2%), from €14.5m to €52.3m
- Short-term financial debts -€26.3m
down €26.3m (-56.3%), from €46.8m to €20.4m
Income statement
- Financial charges +€1.2m
up €1.2m (+2.5%), from €49.5m to €50.7m
of which Non-recurring financial charges: +€14.0m
- Financial income -€835,363
down €835,363 (-1.7%), from €49.2m to €48.4m
- Staff costs +€471,014
up €471,014 (+111.2%), from €423,435 to €894,449
- Turnover +€372,667
up €372,667 (+28.9%), from €1.3m to €1.7m
- Services and other goods -€67,978
down €67,978 (-9.0%), from €754,775 to €686,797
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.
Result 2024
-€2.2m
Turnover
+€372,667
Other operating income
+€50,497
Services and other goods
+€67,978
Staff costs
-€471,014
Depreciation
-€144
Other operating charges
-€4,915
Financial income
-€835,363
Financial charges
-€1.2m
Taxes
-€302
Result 2025
-€4.3m
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.
From operations
+€38.0m
Investment
-€18.7m
Financing
-€22.3m
Cash 2024
€3.5m
From operations (derived)
+€38.0m
Net result for the year
-€4.3m
Depreciation
+€2.0m
Receivables within one year
-€1.3m
Smaller working-capital items
+€44,950
Trade debts
+€1.2m
Other debts
+€37.8m
Accrued charges and deferred income
+€2.5m
Investment (derived)
-€18.7m
Investment in fixed assets (net)
-€18.7m
Financing
-€22.3m
Debts after one year
+€4.1m
Short-term financial debts
-€26.3m
Cash 2025
€578,067
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €476,989,239 | €491,990,586 | +€15.0m | +3.1% |
| Formation expenses | 20 | €7,684,051 | €5,679,516 | -€2.0m | -26.1% |
| Fixed assets | 21/28 | €457,512,481 | €476,134,960 | +€18.6m | +4.1% |
| Intangible fixed assets | 21 | €127,507 | €86,150 | -€41,357 | -32.4% |
| Tangible fixed assets | 22/27 | €2,276 | €2,039 | -€237 | -10.4% |
| Other tangible fixed assets | 26 | €2,276 | €2,039 | -€237 | -10.4% |
| Financial fixed assets | 28 | €457,382,698 | €476,046,771 | +€18.7m | +4.1% |
| Affiliated companies | 280/1 | €455,757,258 | €474,421,332 | +€18.7m | +4.1% |
| Amounts receivable | 281 | €455,757,258 | €474,421,332 | +€18.7m | +4.1% |
| Other financial fixed assets | 284/8 | €1,625,440 | €1,625,440 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,625,440 | €1,625,440 | = | 0.0% |
| Current assets | 29/58 | €11,792,708 | €10,176,109 | -€1.6m | -13.7% |
| Amounts receivable within one year | 40/41 | €8,286,584 | €9,588,942 | +€1.3m | +15.7% |
| Trade receivables | 40 | €506,702 | €1,320,490 | +€813,788 | +160.6% |
| Other amounts receivable | 41 | €7,779,881 | €8,268,452 | +€488,571 | +6.3% |
| Cash at bank and in hand | 54/58 | €3,489,095 | €578,067 | -€2.9m | -83.4% |
| Deferred charges and accrued income | 490/1 | €17,030 | €9,100 | -€7,929 | -46.6% |
| Total equity and liabilities | 10/49 | €476,989,239 | €491,990,586 | +€15.0m | +3.1% |
| Equity | 10/15 | -€3,689,181 | -€7,953,391 | -€4.3m | -115.6% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,689,182 | -€7,953,392 | -€4.3m | -115.6% |
| Amounts payable | 17/49 | €480,678,420 | €499,943,977 | +€19.3m | +4.0% |
| Amounts payable after more than one year | 17 | €411,271,547 | €415,339,547 | +€4.1m | +1.0% |
| Financial debts | 170/4 | €411,271,547 | €415,339,547 | +€4.1m | +1.0% |
| Subordinated loans | 170 | €63,271,547 | €67,339,547 | +€4.1m | +6.4% |
| Credit institutions | 173 | €348,000,000 | €348,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €67,286,729 | €79,978,491 | +€12.7m | +18.9% |
| Financial debts | 43 | €46,791,959 | €20,443,975 | -€26.3m | -56.3% |
| Credit institutions | 430/8 | €46,791,959 | €20,443,975 | -€26.3m | -56.3% |
| Trade debts | 44 | €164,369 | €1,326,221 | +€1.2m | +706.9% |
| Suppliers | 440/4 | €164,369 | €1,326,221 | +€1.2m | +706.9% |
| Taxes, remuneration and social security | 45 | €5,842,803 | €5,879,824 | +€37,020 | +0.6% |
| Taxes | 450/3 | €5,767,090 | €5,767,392 | +€302 | 0.0% |
| Remuneration and social security | 454/9 | €75,714 | €112,432 | +€36,718 | +48.5% |
| Other amounts payable | 47/48 | €14,487,598 | €52,328,471 | +€37.8m | +261.2% |
| Accrued charges and deferred income | 492/3 | €2,120,144 | €4,625,939 | +€2.5m | +118.2% |
| Operating income | 70/76A | €1,297,387 | €1,720,551 | +€423,164 | +32.6% |
| Turnover | 70 | €1,288,990 | €1,661,657 | +€372,667 | +28.9% |
| Other operating income | 74 | €8,397 | €58,894 | +€50,497 | +601.4% |
| Operating charges | 60/66A | €3,226,358 | €3,634,453 | +€408,095 | +12.6% |
| Services and other goods | 61 | €754,775 | €686,797 | -€67,978 | -9.0% |
| Remuneration, social security and pensions | 62 | €423,435 | €894,449 | +€471,014 | +111.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,045,985 | €2,046,129 | +€144 | 0.0% |
| Other operating charges | 640/8 | €2,163 | €7,078 | +€4,915 | +227.2% |
| Operating profit (loss) | 9901 | -€1,928,971 | -€1,913,902 | +€15,069 | +0.8% |
| Financial income | 75/76B | €49,231,368 | €48,396,005 | -€835,363 | -1.7% |
| Recurring financial income | 75 | €49,231,368 | €48,396,005 | -€835,363 | -1.7% |
| Income from current assets | 751 | €42,358,007 | €44,712,542 | +€2.4m | +5.6% |
| Other financial income | 752/9 | €6,873,362 | €3,683,464 | -€3.2m | -46.4% |
| Financial charges | 65/66B | €49,496,666 | €50,745,069 | +€1.2m | +2.5% |
| Recurring financial charges | 65 | €49,496,666 | €36,718,261 | -€12.8m | -25.8% |
| Debt charges | 650 | €46,387,094 | €36,455,701 | -€9.9m | -21.4% |
| Other financial charges | 652/9 | €3,109,573 | €262,560 | -€2.8m | -91.6% |
| Non-recurring financial charges | 66B | - | €14,026,808 | +€14.0m | |
| Profit (loss) for the period before taxes | 9903 | -€2,194,269 | -€4,262,965 | -€2.1m | -94.3% |
| Income taxes | 67/77 | €943 | €1,245 | +€302 | +32.0% |
| Taxes | 670/3 | €943 | €1,245 | +€302 | +32.0% |
| Profit (loss) for the period | 9904 | -€2,195,212 | -€4,264,210 | -€2.1m | -94.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,195,212 | -€4,264,210 | -€2.1m | -94.3% |
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 5 October 2026 via checked.be.