Appart Projects: 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.
Appart Projects
Largest movements
- Tangible fixed assets -€53,132
down €53,132 (-5.5%), from €965,288 to €912,156
of which Land and buildings: -€50,337
- Debts after one year -€34,688
down €34,688 (-4.1%), from €853,312 to €818,623
of which Financial debts: -€34,688
- Gross operating margin +€10,980
up €10,980 (+23.0%), from €47,643 to €58,623
- Other operating charges +€785
up €785 (+13.7%), from €5,724 to €6,509
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 | €971,846 | €924,205 | -€47,641 | -4.9% |
| Fixed assets | 21/28 | €965,288 | €912,156 | -€53,132 | -5.5% |
| Tangible fixed assets | 22/27 | €965,288 | €912,156 | -€53,132 | -5.5% |
| Land and buildings | 22 | €953,366 | €903,030 | -€50,337 | -5.3% |
| Plant, machinery and equipment | 23 | €11,444 | €8,884 | -€2,560 | -22.4% |
| Furniture and vehicles | 24 | €478 | €243 | -€235 | -49.2% |
| Current assets | 29/58 | €6,558 | €12,049 | +€5,491 | +83.7% |
| Amounts receivable within one year | 40/41 | €2,735 | €0 | -€2,735 | -100% |
| Trade receivables | 40 | €2,735 | €0 | -€2,735 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,320 | €8,451 | +€7,131 | +540% |
| Deferred charges and accrued income | 490/1 | €2,503 | €3,598 | +€1,096 | +43.8% |
| Total equity and liabilities | 10/49 | €971,846 | €924,205 | -€47,641 | -4.9% |
| Equity | 10/15 | €58,996 | €50,539 | -€8,457 | -14.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Revaluation surpluses | 12 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,004 | -€54,461 | -€8,457 | -18.4% |
| Amounts payable | 17/49 | €912,850 | €873,666 | -€39,184 | -4.3% |
| Amounts payable after more than one year | 17 | €853,312 | €818,623 | -€34,688 | -4.1% |
| Financial debts | 170/4 | €588,312 | €553,623 | -€34,688 | -5.9% |
| Other amounts payable | 178/9 | €265,000 | €265,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €59,538 | €55,043 | -€4,495 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €34,288 | €34,688 | +€400 | +1.2% |
| Trade debts | 44 | €2,840 | €760 | -€2,080 | -73.2% |
| Suppliers | 440/4 | €2,840 | €760 | -€2,080 | -73.2% |
| Taxes, remuneration and social security | 45 | €1,129 | €1,215 | +€86 | +7.6% |
| Taxes | 450/3 | €1,129 | €1,215 | +€86 | +7.6% |
| Other amounts payable | 47/48 | €21,281 | €18,380 | -€2,901 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,788 | €53,132 | +€344 | +0.7% |
| Other operating charges | 640/8 | €5,724 | €6,509 | +€785 | +13.7% |
| Gross operating margin | 9900 | €47,643 | €58,623 | +€10,980 | +23.0% |
| Operating profit (loss) | 9901 | -€10,869 | -€1,018 | +€9,851 | +90.6% |
| Financial income | 75/76B | €20 | €1 | -€19 | -92.6% |
| Recurring financial income | 75 | €20 | €1 | -€19 | -92.6% |
| Financial charges | 65/66B | €7,867 | €7,440 | -€426 | -5.4% |
| Recurring financial charges | 65 | €7,867 | €7,440 | -€426 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | -€18,716 | -€8,457 | +€10,259 | +54.8% |
| Profit (loss) for the period | 9904 | -€18,716 | -€8,457 | +€10,259 | +54.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,716 | -€8,457 | +€10,259 | +54.8% |
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.