APOVLAM: 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.
What changed
APOVLAM
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€651,130
2024 · €843,735-€192,605
Equity
€7.0m
2024 · €6.4m+€651,130
Cash
€421,281
2024 · €322,083+€99,198
Balance sheet total
€11.0m
2024 · €10.2m+€768,440
Largest movements
Assets
- Tangible fixed assets +€432,960
up €432,960 (+9.3%), from €4.7m to €5.1m
of which Land and buildings: +€466,363
- Receivables within one year +€267,948
up €267,948 (+10.3%), from €2.6m to €2.9m
of which Other amounts receivable: +€494,333
Equity and liabilities
- Reserves +€651,130
up €651,130 (+10.3%), from €6.3m to €7.0m
of which Distributable reserves: +€651,130
- Trade debts +€547,152
up €547,152 (+54.1%), from €1.0m to €1.6m
- Debts after one year -€311,904
down €311,904 (-14.0%), from €2.2m to €1.9m
Income statement
- Turnover +€3.3m
up €3.3m (+17.6%), from €18.8m to €22.1m
- Goods and materials +€3.3m
up €3.3m (+19.3%), from €16.9m to €20.1m
- Services and other goods +€223,817
up €223,817 (+77.2%), from €290,087 to €513,904
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
€843,735
Turnover
+€3.3m
Other operating income
-€8,187
Goods and materials
-€3.3m
Services and other goods
-€223,817
Staff costs
-€62,912
Depreciation
-€19,816
Other operating charges
-€1,260
Financial income
+€1,907
Financial charges
+€7,832
Taxes
+€64,123
Result 2025
€651,130
raises the resultlowers the result
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.
From operations
+€1.2m
Investment
-€799,621
Financing
-€314,617
Cash 2024
€322,083
From operations (derived)
+€1.2m
Net result for the year
+€651,130
Depreciation
+€394,160
Receivables within one year
-€267,948
Deferred charges and accrued income
+€4,167
Trade debts
+€547,152
Tax, wage and social debts
-€61,628
Other debts
-€64,005
Accrued charges and deferred income
+€10,408
Investment (derived)
-€799,621
Investment in fixed assets (net)
-€799,621
Financing
-€314,617
Debts after one year
-€311,904
Current portion of long-term debt
-€36,140
Short-term financial debts
+€33,428
Cash 2025
€421,281
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,237,014 | €11,005,454 | +€768,440 | +7.5% |
| Fixed assets | 21/28 | €7,287,768 | €7,693,229 | +€405,460 | +5.6% |
| Intangible fixed assets | 21 | €27,500 | €0 | -€27,500 | -100% |
| Tangible fixed assets | 22/27 | €4,661,447 | €5,094,408 | +€432,960 | +9.3% |
| Land and buildings | 22 | €3,493,710 | €3,960,073 | +€466,363 | +13.3% |
| Plant, machinery and equipment | 23 | €1,149,139 | €1,123,701 | -€25,438 | -2.2% |
| Furniture and vehicles | 24 | €18,599 | €10,633 | -€7,966 | -42.8% |
| Financial fixed assets | 28 | €2,598,821 | €2,598,821 | = | 0.0% |
| Affiliated companies | 280/1 | €2,598,821 | €2,598,821 | = | 0.0% |
| Participating interests | 280 | €2,598,821 | €2,598,821 | = | 0.0% |
| Other financial fixed assets | 284/8 | €0 | - | = | |
| Amounts receivable and cash guarantees | 285/8 | €0 | - | = | |
| Current assets | 29/58 | €2,949,246 | €3,312,226 | +€362,980 | +12.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,601,585 | €2,869,534 | +€267,948 | +10.3% |
| Trade receivables | 40 | €1,054,822 | €828,437 | -€226,385 | -21.5% |
| Other amounts receivable | 41 | €1,546,763 | €2,041,097 | +€494,333 | +32.0% |
| Cash at bank and in hand | 54/58 | €322,083 | €421,281 | +€99,198 | +30.8% |
| Deferred charges and accrued income | 490/1 | €25,577 | €21,411 | -€4,167 | -16.3% |
| Total equity and liabilities | 10/49 | €10,237,014 | €11,005,454 | +€768,440 | +7.5% |
| Equity | 10/15 | €6,376,144 | €7,027,274 | +€651,130 | +10.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,314,171 | €6,965,301 | +€651,130 | +10.3% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €812 | €812 | = | 0.0% |
| Distributable reserves | 133 | €6,307,162 | €6,958,292 | +€651,130 | +10.3% |
| Amounts payable | 17/49 | €3,860,870 | €3,978,180 | +€117,310 | +3.0% |
| Amounts payable after more than one year | 17 | €2,223,006 | €1,911,102 | -€311,904 | -14.0% |
| Financial debts | 170/4 | €2,223,006 | €1,911,102 | -€311,904 | -14.0% |
| Credit institutions | 173 | €2,223,006 | €1,911,102 | -€311,904 | -14.0% |
| Amounts payable within one year | 42/48 | €1,626,333 | €2,045,140 | +€418,806 | +25.8% |
| Current portion of amounts payable after more than one year | 42 | €348,044 | €311,904 | -€36,140 | -10.4% |
| Financial debts | 43 | €84,542 | €117,970 | +€33,428 | +39.5% |
| Credit institutions | 430/8 | €84,542 | €117,970 | +€33,428 | +39.5% |
| Trade debts | 44 | €1,011,767 | €1,558,919 | +€547,152 | +54.1% |
| Suppliers | 440/4 | €1,011,767 | €1,558,919 | +€547,152 | +54.1% |
| Taxes, remuneration and social security | 45 | €81,772 | €20,144 | -€61,628 | -75.4% |
| Taxes | 450/3 | €64,810 | €7,606 | -€57,204 | -88.3% |
| Remuneration and social security | 454/9 | €16,962 | €12,538 | -€4,424 | -26.1% |
| Other amounts payable | 47/48 | €100,207 | €36,203 | -€64,005 | -63.9% |
| Accrued charges and deferred income | 492/3 | €11,531 | €21,939 | +€10,408 | +90.3% |
| Operating income | 70/76A | €18,949,670 | €22,242,839 | +€3.3m | +17.4% |
| Turnover | 70 | €18,808,304 | €22,109,660 | +€3.3m | +17.6% |
| Other operating income | 74 | €141,365 | €133,179 | -€8,187 | -5.8% |
| Operating charges | 60/66A | €17,748,280 | €21,307,917 | +€3.6m | +20.1% |
| Goods for resale, raw materials and consumables | 60 | €16,871,191 | €20,123,023 | +€3.3m | +19.3% |
| Purchases | 600/8 | €16,871,191 | €20,123,023 | +€3.3m | +19.3% |
| Services and other goods | 61 | €290,087 | €513,904 | +€223,817 | +77.2% |
| Remuneration, social security and pensions | 62 | €199,302 | €262,214 | +€62,912 | +31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €374,345 | €394,160 | +€19,816 | +5.3% |
| Other operating charges | 640/8 | €13,356 | €14,616 | +€1,260 | +9.4% |
| Operating profit (loss) | 9901 | €1,201,389 | €934,922 | -€266,468 | -22.2% |
| Financial income | 75/76B | €977 | €2,885 | +€1,907 | +195% |
| Recurring financial income | 75 | €977 | €2,885 | +€1,907 | +195% |
| Income from current assets | 751 | €11 | €2,777 | +€2,766 | +25,005% |
| Other financial income | 752/9 | €966 | €108 | -€858 | -88.8% |
| Financial charges | 65/66B | €77,278 | €69,446 | -€7,832 | -10.1% |
| Recurring financial charges | 65 | €77,278 | €69,446 | -€7,832 | -10.1% |
| Debt charges | 650 | €74,408 | €69,223 | -€5,185 | -7.0% |
| Other financial charges | 652/9 | €2,870 | €223 | -€2,647 | -92.2% |
| Profit (loss) for the period before taxes | 9903 | €1,125,089 | €868,360 | -€256,729 | -22.8% |
| Income taxes | 67/77 | €281,353 | €217,230 | -€64,123 | -22.8% |
| Taxes | 670/3 | €281,353 | €217,230 | -€64,123 | -22.8% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €843,735 | €651,130 | -€192,605 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €843,735 | €651,130 | -€192,605 | -22.8% |
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 19 October 2026 via checked.be.