Apollo Insights: 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 Insights
Largest movements
- Cash +€60,664
up €60,664 (+150.3%), from €40,354 to €101,018
mainly Net result for the year (+€68,313) and Receivables within one year (+€28,825)
- Current investments +€55,000
up €55,000 (+157.1%), from €35,000 to €90,000
- Receivables within one year -€28,825
down €28,825 (-66.0%), from €43,654 to €14,829
of which Other amounts receivable: -€17,639
- Reserves +€68,313
up €68,313 (+71.2%), from €95,894 to €164,207
- Tax, wage and social debts +€18,073
up €18,073 (+84.6%), from €21,368 to €39,441
- Gross operating margin +€18,692
up €18,692 (+27.9%), from €66,966 to €85,658
- Taxes +€3,609
up €3,609 (+26.0%), from €13,871 to €17,481
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 | €122,532 | €208,533 | +€86,001 | +70.2% |
| Fixed assets | 21/28 | €2,700 | €1,862 | -€838 | -31.0% |
| Tangible fixed assets | 22/27 | €2,700 | €1,862 | -€838 | -31.0% |
| Furniture and vehicles | 24 | €618 | €262 | -€356 | -57.7% |
| Other tangible fixed assets | 26 | €2,082 | €1,600 | -€482 | -23.1% |
| Current assets | 29/58 | €119,831 | €206,671 | +€86,839 | +72.5% |
| Amounts receivable within one year | 40/41 | €43,654 | €14,829 | -€28,825 | -66.0% |
| Trade receivables | 40 | €26,015 | €14,829 | -€11,186 | -43.0% |
| Other amounts receivable | 41 | €17,639 | - | -€17,639 | |
| Current investments | 50/53 | €35,000 | €90,000 | +€55,000 | +157.1% |
| Cash at bank and in hand | 54/58 | €40,354 | €101,018 | +€60,664 | +150.3% |
| Deferred charges and accrued income | 490/1 | €824 | €824 | = | 0.0% |
| Total equity and liabilities | 10/49 | €122,532 | €208,533 | +€86,001 | +70.2% |
| Equity | 10/15 | €98,394 | €166,707 | +€68,313 | +69.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €95,894 | €164,207 | +€68,313 | +71.2% |
| Distributable reserves | 133 | €95,894 | €164,207 | +€68,313 | +71.2% |
| Amounts payable | 17/49 | €24,138 | €41,826 | +€17,688 | +73.3% |
| Amounts payable within one year | 42/48 | €24,138 | €41,826 | +€17,688 | +73.3% |
| Trade debts | 44 | €1,911 | €2,073 | +€162 | +8.5% |
| Suppliers | 440/4 | €1,911 | €2,073 | +€162 | +8.5% |
| Taxes, remuneration and social security | 45 | €21,368 | €39,441 | +€18,073 | +84.6% |
| Taxes | 450/3 | €21,368 | €39,441 | +€18,073 | +84.6% |
| Other amounts payable | 47/48 | €859 | €312 | -€547 | -63.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €683 | €838 | +€155 | +22.7% |
| Other operating charges | 640/8 | €62 | €462 | +€400 | +644.7% |
| Gross operating margin | 9900 | €66,966 | €85,658 | +€18,692 | +27.9% |
| Operating profit (loss) | 9901 | €66,221 | €84,358 | +€18,138 | +27.4% |
| Financial income | 75/76B | €1,656 | €1,492 | -€164 | -9.9% |
| Recurring financial income | 75 | €1,656 | €1,492 | -€164 | -9.9% |
| Financial charges | 65/66B | €54 | €56 | +€2 | +3.9% |
| Recurring financial charges | 65 | €54 | €56 | +€2 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €67,822 | €85,794 | +€17,971 | +26.5% |
| Income taxes | 67/77 | €13,871 | €17,481 | +€3,609 | +26.0% |
| Profit (loss) for the period | 9904 | €53,951 | €68,313 | +€14,362 | +26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €53,951 | €68,313 | +€14,362 | +26.6% |
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 9 October 2026 via checked.be.