APOSAR: 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.
APOSAR
Largest movements
- Cash +€25,604
up €25,604 (+13.7%), from €186,751 to €212,355
mainly Net result for the year (+€38,275) and Other debts (+€2,259)
- Receivables within one year +€5,249
up €5,249 (+56.6%), from €9,275 to €14,524
of which Trade receivables: +€4,842
- Tangible fixed assets +€2,318
new in 2025: €2,318
- Profit (loss) carried forward +€38,275
up €38,275 (+22.6%), from €169,352 to €207,627
- Tax, wage and social debts -€6,820
down €6,820 (-45.3%), from €15,055 to €8,235
- Gross operating margin -€9,680
down €9,680 (-16.6%), from €58,481 to €48,800
- Taxes -€1,743
down €1,743 (-14.2%), from €12,251 to €10,507
- Financial income +€1,640
new in 2025: €1,640
- Depreciation +€653
new in 2025: €653
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 | €196,026 | €229,197 | +€33,170 | +16.9% |
| Fixed assets | 21/28 | - | €2,318 | +€2,318 | |
| Tangible fixed assets | 22/27 | - | €2,318 | +€2,318 | |
| Furniture and vehicles | 24 | - | €2,318 | +€2,318 | |
| Current assets | 29/58 | €196,026 | €226,879 | +€30,853 | +15.7% |
| Amounts receivable within one year | 40/41 | €9,275 | €14,524 | +€5,249 | +56.6% |
| Trade receivables | 40 | €8,026 | €12,868 | +€4,842 | +60.3% |
| Other amounts receivable | 41 | €1,249 | €1,656 | +€407 | +32.6% |
| Cash at bank and in hand | 54/58 | €186,751 | €212,355 | +€25,604 | +13.7% |
| Total equity and liabilities | 10/49 | €196,026 | €229,197 | +€33,170 | +16.9% |
| Equity | 10/15 | €172,352 | €210,627 | +€38,275 | +22.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €169,352 | €207,627 | +€38,275 | +22.6% |
| Amounts payable | 17/49 | €23,674 | €18,570 | -€5,104 | -21.6% |
| Amounts payable within one year | 42/48 | €23,171 | €17,961 | -€5,210 | -22.5% |
| Trade debts | 44 | €650 | €0 | -€650 | -100.0% |
| Suppliers | 440/4 | €650 | €0 | -€650 | -100.0% |
| Taxes, remuneration and social security | 45 | €15,055 | €8,235 | -€6,820 | -45.3% |
| Taxes | 450/3 | €15,055 | €8,235 | -€6,820 | -45.3% |
| Other amounts payable | 47/48 | €7,467 | €9,726 | +€2,259 | +30.3% |
| Accrued charges and deferred income | 492/3 | €503 | €609 | +€106 | +21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €653 | +€653 | |
| Other operating charges | 640/8 | €302 | €186 | -€116 | -38.5% |
| Gross operating margin | 9900 | €58,481 | €48,800 | -€9,680 | -16.6% |
| Operating profit (loss) | 9901 | €58,179 | €47,961 | -€10,217 | -17.6% |
| Financial income | 75/76B | - | €1,640 | +€1,640 | |
| Recurring financial income | 75 | - | €1,640 | +€1,640 | |
| Financial charges | 65/66B | €610 | €819 | +€209 | +34.3% |
| Recurring financial charges | 65 | €610 | €819 | +€209 | +34.3% |
| Profit (loss) for the period before taxes | 9903 | €57,569 | €48,782 | -€8,787 | -15.3% |
| Income taxes | 67/77 | €12,251 | €10,507 | -€1,743 | -14.2% |
| Profit (loss) for the period | 9904 | €45,318 | €38,275 | -€7,044 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €45,318 | €38,275 | -€7,044 | -15.5% |
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 8 October 2026 via checked.be.