Apollo Midco: 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 Midco
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€225,411
2024 · -€25,119-€200,291
Equity
€327.6m
2024 · €327.8m-€225,411
Cash
€4,649
2024 · €2,169+€2,480
Balance sheet total
€381.8m
2024 · €384.2m-€2.4m
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
No income-statement line moved by more than 1% of the activity.
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
-€25,119
Other operating charges
-€35
Other operating items
-€1,820
Financial income
+€183,371
Financial charges
-€381,808
Result 2025
-€225,411
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
+€2,480
Investment
+€2.4m
Financing
-€2.4m
Cash 2024
€2,169
From operations (derived)
+€2,480
Net result for the year
-€225,411
Deferred charges and accrued income
+€74,768
Trade debts
+€6,797
Other debts
+€198,414
Accrued charges and deferred income
-€52,090
Investment (derived)
+€2.4m
Investment in fixed assets (net)
+€2.4m
Financing
-€2.4m
Debts after one year
-€2.4m
Cash 2025
€4,649
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €384,207,083 | €381,760,731 | -€2.4m | -0.6% |
| Fixed assets | 21/28 | €382,485,711 | €380,111,648 | -€2.4m | -0.6% |
| Financial fixed assets | 28 | €382,485,711 | €380,111,648 | -€2.4m | -0.6% |
| Affiliated companies | 280/1 | €382,485,711 | €380,111,648 | -€2.4m | -0.6% |
| Participating interests | 280 | €327,897,104 | €327,897,104 | = | 0.0% |
| Amounts receivable | 281 | €54,588,607 | €52,214,544 | -€2.4m | -4.3% |
| Current assets | 29/58 | €1,721,371 | €1,649,083 | -€72,289 | -4.2% |
| Amounts receivable within one year | 40/41 | €1 | €1 | = | 0.0% |
| Other amounts receivable | 41 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,169 | €4,649 | +€2,480 | +114.3% |
| Deferred charges and accrued income | 490/1 | €1,719,201 | €1,644,433 | -€74,768 | -4.3% |
| Total equity and liabilities | 10/49 | €384,207,083 | €381,760,731 | -€2.4m | -0.6% |
| Equity | 10/15 | €327,799,494 | €327,574,084 | -€225,411 | -0.1% |
| Contributions | 10/11 | €327,897,105 | €327,897,105 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97,611 | -€323,021 | -€225,411 | -230.9% |
| Amounts payable | 17/49 | €56,407,588 | €54,186,647 | -€2.2m | -3.9% |
| Amounts payable after more than one year | 17 | €54,588,607 | €52,214,544 | -€2.4m | -4.3% |
| Financial debts | 170/4 | €54,588,607 | €52,214,544 | -€2.4m | -4.3% |
| Subordinated loans | 170 | €54,588,607 | €52,214,544 | -€2.4m | -4.3% |
| Amounts payable within one year | 42/48 | €95,863 | €301,074 | +€205,212 | +214.1% |
| Trade debts | 44 | €8,589 | €15,386 | +€6,797 | +79.1% |
| Suppliers | 440/4 | €8,589 | €15,386 | +€6,797 | +79.1% |
| Other amounts payable | 47/48 | €87,274 | €285,688 | +€198,414 | +227.3% |
| Accrued charges and deferred income | 492/3 | €1,723,118 | €1,671,029 | -€52,090 | -3.0% |
| Operating charges | 60/66A | €19,896 | €21,750 | +€1,855 | +9.3% |
| Services and other goods | 61 | €18,788 | €20,608 | +€1,820 | +9.7% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Operating profit (loss) | 9901 | -€19,896 | -€21,750 | -€1,855 | -9.3% |
| Financial income | 75/76B | €4,055,385 | €4,238,756 | +€183,371 | +4.5% |
| Recurring financial income | 75 | €4,055,385 | €4,238,756 | +€183,371 | +4.5% |
| Income from current assets | 751 | €4,055,385 | €4,237,430 | +€182,045 | +4.5% |
| Other financial income | 752/9 | - | €1,326 | +€1,326 | |
| Financial charges | 65/66B | €4,060,608 | €4,442,416 | +€381,808 | +9.4% |
| Recurring financial charges | 65 | €4,060,608 | €4,442,416 | +€381,808 | +9.4% |
| Debt charges | 650 | €4,059,931 | €4,438,499 | +€378,568 | +9.3% |
| Other financial charges | 652/9 | €677 | €3,917 | +€3,240 | +478.4% |
| Profit (loss) for the period before taxes | 9903 | -€25,119 | -€225,411 | -€200,291 | -797.4% |
| Profit (loss) for the period | 9904 | -€25,119 | -€225,411 | -€200,291 | -797.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,119 | -€225,411 | -€200,291 | -797.4% |
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 3 October 2026 via checked.be.