APOLYGON: 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.
APOLYGON
Largest movements
- Cash +€61,838
up €61,838 (+297.5%), from €20,788 to €82,626
mainly Other debts (+€30,626) and Depreciation (+€24,030)
- Tangible fixed assets -€21,504
down €21,504 (-2.6%), from €825,586 to €804,082
of which Land and buildings: -€18,576
- Receivables after one year -€21,199
down €21,199 (-46.6%), from €45,498 to €24,300
- Other debts +€30,626
up €30,626 (+11.0%), from €279,212 to €309,838
- Tax, wage and social debts +€19,120
up €19,120 (+66.5%), from €28,759 to €47,879
of which Remuneration and social security: +€17,927
- Reserves -€18,198
down €18,198 (-5.9%), from €305,979 to €287,781
- Gross operating margin +€11,488
up €11,488 (+28.0%), from €41,036 to €52,524
- Financial charges -€3,549
down €3,549 (-10.7%), from €33,082 to €29,533
of which Financial charges: -€3,549
- Financial income -€1,710
down €1,710 (-35.7%), from €4,789 to €3,079
- Other operating charges -€1,639
down €1,639 (-40.4%), from €4,054 to €2,415
- Depreciation +€1,020
up €1,020 (+4.4%), from €23,010 to €24,030
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 | €938,453 | €956,905 | +€18,452 | +2.0% |
| Fixed assets | 21/28 | €825,586 | €804,082 | -€21,504 | -2.6% |
| Tangible fixed assets | 22/27 | €825,586 | €804,082 | -€21,504 | -2.6% |
| Land and buildings | 22 | €792,022 | €773,446 | -€18,576 | -2.3% |
| Plant, machinery and equipment | 23 | - | €782 | +€782 | |
| Furniture and vehicles | 24 | €7,233 | €6,315 | -€917 | -12.7% |
| Other tangible fixed assets | 26 | €26,332 | €23,538 | -€2,793 | -10.6% |
| Current assets | 29/58 | €112,867 | €152,823 | +€39,956 | +35.4% |
| Amounts receivable after more than one year | 29 | €45,498 | €24,300 | -€21,199 | -46.6% |
| Other amounts receivable | 291 | €45,498 | €24,300 | -€21,199 | -46.6% |
| Amounts receivable within one year | 40/41 | €43,840 | €42,063 | -€1,777 | -4.1% |
| Trade receivables | 40 | €20,669 | €31,499 | +€10,830 | +52.4% |
| Other amounts receivable | 41 | €23,171 | €10,564 | -€12,607 | -54.4% |
| Cash at bank and in hand | 54/58 | €20,788 | €82,626 | +€61,838 | +297.5% |
| Deferred charges and accrued income | 490/1 | €2,741 | €3,835 | +€1,094 | +39.9% |
| Total equity and liabilities | 10/49 | €938,453 | €956,905 | +€18,452 | +2.0% |
| Equity | 10/15 | €447,944 | €429,084 | -€18,860 | -4.2% |
| Contributions | 10/11 | €231,200 | €231,200 | = | 0.0% |
| Reserves | 13 | €305,979 | €287,781 | -€18,198 | -5.9% |
| Distributable reserves | 133 | €305,979 | €287,781 | -€18,198 | -5.9% |
| Profit (loss) carried forward | 14 | -€89,235 | -€89,897 | -€662 | -0.7% |
| Amounts payable | 17/49 | €490,509 | €527,821 | +€37,312 | +7.6% |
| Amounts payable after more than one year | 17 | €144,856 | €140,000 | -€4,856 | -3.4% |
| Financial debts | 170/4 | €144,856 | €140,000 | -€4,856 | -3.4% |
| Amounts payable within one year | 42/48 | €326,116 | €367,075 | +€40,959 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €5,214 | €4,856 | -€358 | -6.9% |
| Trade debts | 44 | €12,931 | €4,502 | -€8,429 | -65.2% |
| Suppliers | 440/4 | €12,931 | €4,502 | -€8,429 | -65.2% |
| Taxes, remuneration and social security | 45 | €28,759 | €47,879 | +€19,120 | +66.5% |
| Taxes | 450/3 | €12,259 | €13,452 | +€1,193 | +9.7% |
| Remuneration and social security | 454/9 | €16,500 | €34,427 | +€17,927 | +108.7% |
| Other amounts payable | 47/48 | €279,212 | €309,838 | +€30,626 | +11.0% |
| Accrued charges and deferred income | 492/3 | €19,537 | €20,745 | +€1,208 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,010 | €24,030 | +€1,020 | +4.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,054 | €2,415 | -€1,639 | -40.4% |
| Gross operating margin | 9900 | €41,036 | €52,524 | +€11,488 | +28.0% |
| Operating profit (loss) | 9901 | €13,972 | €26,078 | +€12,107 | +86.7% |
| Financial income | 75/76B | €4,789 | €3,079 | -€1,710 | -35.7% |
| Recurring financial income | 75 | €4,789 | €3,079 | -€1,710 | -35.7% |
| Financial charges | 65/66B | €33,082 | €29,533 | -€3,549 | -10.7% |
| Recurring financial charges | 65 | €33,082 | €29,533 | -€3,549 | -10.7% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€14,321 | -€375 | +€13,946 | +97.4% |
| Income taxes | 67/77 | €277 | €286 | +€9 | +3.4% |
| Profit (loss) for the period | 9904 | -€14,598 | -€662 | +€13,936 | +95.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,598 | -€662 | +€13,936 | +95.5% |
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.