APPARO: 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.
APPARO
Largest movements
- Receivables within one year -€111,279
down €111,279 (-89.4%), from €124,454 to €13,175
of which Trade receivables: -€110,728
- Cash -€25,560
down €25,560 (-91.1%), from €28,070 to €2,510
mainly Other debts (-€69,006) and Net result for the year (-€61,105)
- Tangible fixed assets -€5,687
down €5,687 (-100.0%), from €5,687 to €0
- Deferred charges and accrued income -€3,473
down €3,473 (-100.0%), from €3,473 to €0
- Other debts -€69,006
down €69,006 (-30.3%), from €227,697 to €158,692
- Profit (loss) carried forward -€61,105
down €61,105 (-54.8%), from -€111,525 to -€172,630
- Trade debts -€19,521
down €19,521 (-85.7%), from €22,791 to €3,269
- Advances received +€5,500
new in 2025: €5,500
- Tax, wage and social debts -€2,093
down €2,093 (-77.4%), from €2,704 to €611
of which Remuneration and social security: -€2,461
- Gross operating margin -€119,642
down €119,642, from €96,589 to -€23,053
- Staff costs -€36,430
down €36,430 (-65.7%), from €55,411 to €18,980
- Other operating charges +€4,143
up €4,143 (+28.0%), from €14,794 to €18,937
- Financial income +€3,566
up €3,566 (+7506.3%), from €48 to €3,613
- Depreciation -€1,740
down €1,740 (-100.0%), from €1,740 to €0
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 | €162,940 | €15,685 | -€147,255 | -90.4% |
| Fixed assets | 21/28 | €6,943 | €0 | -€6,943 | -100.0% |
| Intangible fixed assets | 21 | €1,256 | €0 | -€1,256 | -100.0% |
| Tangible fixed assets | 22/27 | €5,687 | €0 | -€5,687 | -100.0% |
| Plant, machinery and equipment | 23 | €5,687 | €0 | -€5,687 | -100.0% |
| Current assets | 29/58 | €155,997 | €15,685 | -€140,311 | -89.9% |
| Amounts receivable within one year | 40/41 | €124,454 | €13,175 | -€111,279 | -89.4% |
| Trade receivables | 40 | €123,903 | €13,175 | -€110,728 | -89.4% |
| Other amounts receivable | 41 | €551 | €0 | -€551 | -100.0% |
| Cash at bank and in hand | 54/58 | €28,070 | €2,510 | -€25,560 | -91.1% |
| Deferred charges and accrued income | 490/1 | €3,473 | €0 | -€3,473 | -100.0% |
| Total equity and liabilities | 10/49 | €162,940 | €15,685 | -€147,255 | -90.4% |
| Equity | 10/15 | -€91,282 | -€152,386 | -€61,105 | -66.9% |
| Contributions | 10/11 | €13,642 | €13,642 | = | 0.0% |
| Reserves | 13 | €6,601 | €6,601 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,750 | €4,750 | = | 0.0% |
| Distributable reserves | 133 | €1,851 | €1,851 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,525 | -€172,630 | -€61,105 | -54.8% |
| Amounts payable | 17/49 | €254,222 | €168,072 | -€86,150 | -33.9% |
| Amounts payable within one year | 42/48 | €253,192 | €168,072 | -€85,120 | -33.6% |
| Trade debts | 44 | €22,791 | €3,269 | -€19,521 | -85.7% |
| Suppliers | 440/4 | €22,791 | €3,269 | -€19,521 | -85.7% |
| Advances received on contracts in progress | 46 | - | €5,500 | +€5,500 | |
| Taxes, remuneration and social security | 45 | €2,704 | €611 | -€2,093 | -77.4% |
| Taxes | 450/3 | €243 | €611 | +€367 | +151.1% |
| Remuneration and social security | 454/9 | €2,461 | €0 | -€2,461 | -100.0% |
| Other amounts payable | 47/48 | €227,697 | €158,692 | -€69,006 | -30.3% |
| Accrued charges and deferred income | 492/3 | €1,030 | €0 | -€1,030 | -100.0% |
| Remuneration, social security and pensions | 62 | €55,411 | €18,980 | -€36,430 | -65.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,740 | €0 | -€1,740 | -100.0% |
| Other operating charges | 640/8 | €14,794 | €18,937 | +€4,143 | +28.0% |
| Non-recurring operating charges | 66A | - | €1,256 | +€1,256 | |
| Gross operating margin | 9900 | €96,589 | -€23,053 | -€119,642 | |
| Operating profit (loss) | 9901 | €24,645 | -€62,226 | -€86,872 | |
| Financial income | 75/76B | €48 | €3,613 | +€3,566 | +7506.3% |
| Recurring financial income | 75 | €48 | €3,613 | +€3,566 | +7506.3% |
| Financial charges | 65/66B | €1,205 | €2,491 | +€1,286 | +106.7% |
| Recurring financial charges | 65 | €1,205 | €2,491 | +€1,286 | +106.7% |
| Profit (loss) for the period before taxes | 9903 | €23,487 | -€61,105 | -€84,592 | |
| Profit (loss) for the period | 9904 | €23,487 | -€61,105 | -€84,592 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,487 | -€61,105 | -€84,592 |
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 10 October 2026 via checked.be.