APOTHEOSE +: 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.
APOTHEOSE +
Largest movements
- Tangible fixed assets -€19,962
down €19,962 (-24.1%), from €82,924 to €62,962
of which Land and buildings: -€16,740
- Receivables within one year +€11,344
up €11,344 (+41.0%), from €27,671 to €39,015
of which Other amounts receivable: +€8,782
- Debts after one year -€4,348
down €4,348 (-79.8%), from €5,448 to €1,100
- Profit (loss) carried forward -€4,105
down €4,105 (-10.2%), from €40,317 to €36,212
- Trade debts -€2,666
down €2,666 (-48.0%), from €5,556 to €2,890
- Accrued charges and deferred income +€2,606
new in 2025: €2,606
- Tax, wage and social debts -€1,764
down €1,764 (-63.7%), from €2,768 to €1,004
- Depreciation -€20,801
down €20,801 (-44.8%), from €46,459 to €25,658
- Gross operating margin -€6,186
down €6,186 (-19.9%), from €31,162 to €24,976
- Other operating charges -€3,366
down €3,366 (-48.6%), from €6,928 to €3,562
- Financial charges -€370
down €370 (-62.1%), from €595 to €225
- Financial income +€355
up €355 (+3,546%), from €10 to €365
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.
Derived cash bridge
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 | €115,610 | €105,416 | -€10,195 | -8.8% |
| Fixed assets | 21/28 | €82,954 | €62,992 | -€19,962 | -24.1% |
| Tangible fixed assets | 22/27 | €82,924 | €62,962 | -€19,962 | -24.1% |
| Land and buildings | 22 | €63,289 | €46,549 | -€16,740 | -26.4% |
| Plant, machinery and equipment | 23 | €19,635 | €16,413 | -€3,222 | -16.4% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €32,656 | €42,423 | +€9,767 | +29.9% |
| Amounts receivable within one year | 40/41 | €27,671 | €39,015 | +€11,344 | +41.0% |
| Trade receivables | 40 | - | €2,563 | +€2,563 | |
| Other amounts receivable | 41 | €27,671 | €36,453 | +€8,782 | +31.7% |
| Cash at bank and in hand | 54/58 | €3,812 | €3,195 | -€617 | -16.2% |
| Deferred charges and accrued income | 490/1 | €1,172 | €213 | -€960 | -81.9% |
| Total equity and liabilities | 10/49 | €115,610 | €105,416 | -€10,195 | -8.8% |
| Equity | 10/15 | €97,574 | €93,469 | -€4,105 | -4.2% |
| Contributions | 10/11 | €50,500 | €50,500 | = | 0.0% |
| Reserves | 13 | €6,757 | €6,757 | = | 0.0% |
| Distributable reserves | 133 | €6,757 | €6,757 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,317 | €36,212 | -€4,105 | -10.2% |
| Amounts payable | 17/49 | €18,036 | €11,947 | -€6,090 | -33.8% |
| Amounts payable after more than one year | 17 | €5,448 | €1,100 | -€4,348 | -79.8% |
| Financial debts | 170/4 | €5,448 | €1,100 | -€4,348 | -79.8% |
| Amounts payable within one year | 42/48 | €12,589 | €8,241 | -€4,348 | -34.5% |
| Current portion of amounts payable after more than one year | 42 | €4,265 | €4,348 | +€82 | +1.9% |
| Trade debts | 44 | €5,556 | €2,890 | -€2,666 | -48.0% |
| Suppliers | 440/4 | €5,556 | €2,890 | -€2,666 | -48.0% |
| Taxes, remuneration and social security | 45 | €2,768 | €1,004 | -€1,764 | -63.7% |
| Taxes | 450/3 | €2,768 | €1,004 | -€1,764 | -63.7% |
| Accrued charges and deferred income | 492/3 | - | €2,606 | +€2,606 | |
| Non-recurring operating income | 76A | €2,181 | - | -€2,181 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,459 | €25,658 | -€20,801 | -44.8% |
| Other operating charges | 640/8 | €6,928 | €3,562 | -€3,366 | -48.6% |
| Gross operating margin | 9900 | €31,162 | €24,976 | -€6,186 | -19.9% |
| Operating profit (loss) | 9901 | -€22,226 | -€4,245 | +€17,981 | +80.9% |
| Financial income | 75/76B | €10 | €365 | +€355 | +3,546% |
| Recurring financial income | 75 | €10 | €365 | +€355 | +3,546% |
| Financial charges | 65/66B | €595 | €225 | -€370 | -62.1% |
| Recurring financial charges | 65 | €595 | €225 | -€370 | -62.1% |
| Profit (loss) for the period before taxes | 9903 | -€22,811 | -€4,105 | +€18,706 | +82.0% |
| Profit (loss) for the period | 9904 | -€22,811 | -€4,105 | +€18,706 | +82.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,811 | -€4,105 | +€18,706 | +82.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.