APPCOM: 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.
APPCOM
Largest movements
- Receivables within one year +€2,697
up €2,697 (+313.4%), from €861 to €3,558
of which Trade receivables: +€2,413
- Cash +€638
up €638 (+1.2%), from €54,427 to €55,065
mainly Net result for the year (+€4,337) and Trade debts (+€190)
- Reserves +€3,504
up €3,504 (+7.7%), from €45,557 to €49,061
- Gross operating margin -€3,734
down €3,734 (-34.4%), from €10,869 to €7,135
- Taxes -€983
down €983 (-33.5%), from €2,930 to €1,948
- Depreciation -€716
down €716 (-100.0%), from €716 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 | €55,561 | €58,895 | +€3,335 | +6.0% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €55,561 | €58,895 | +€3,335 | +6.0% |
| Amounts receivable within one year | 40/41 | €861 | €3,558 | +€2,697 | +313.4% |
| Trade receivables | 40 | €591 | €3,004 | +€2,413 | +408.5% |
| Other amounts receivable | 41 | €270 | €554 | +€284 | +105.1% |
| Cash at bank and in hand | 54/58 | €54,427 | €55,065 | +€638 | +1.2% |
| Deferred charges and accrued income | 490/1 | €273 | €273 | = | 0.0% |
| Total equity and liabilities | 10/49 | €55,561 | €58,895 | +€3,335 | +6.0% |
| Equity | 10/15 | €51,857 | €55,361 | +€3,504 | +6.8% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €45,557 | €49,061 | +€3,504 | +7.7% |
| Distributable reserves | 133 | €45,557 | €49,061 | +€3,504 | +7.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,704 | €3,534 | -€170 | -4.6% |
| Amounts payable within one year | 42/48 | €3,692 | €3,534 | -€158 | -4.3% |
| Financial debts | 43 | €96 | €109 | +€13 | +13.6% |
| Credit institutions | 430/8 | €96 | €109 | +€13 | +13.6% |
| Trade debts | 44 | €1,161 | €1,352 | +€190 | +16.4% |
| Suppliers | 440/4 | €1,161 | €1,352 | +€190 | +16.4% |
| Taxes, remuneration and social security | 45 | €995 | €709 | -€286 | -28.8% |
| Taxes | 450/3 | €995 | €709 | -€286 | -28.8% |
| Other amounts payable | 47/48 | €1,440 | €1,365 | -€75 | -5.2% |
| Accrued charges and deferred income | 492/3 | €12 | €0 | -€12 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €716 | €0 | -€716 | -100.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €105 | €0 | -€105 | -100.0% |
| Other operating charges | 640/8 | €660 | €679 | +€19 | +2.9% |
| Gross operating margin | 9900 | €10,869 | €7,135 | -€3,734 | -34.4% |
| Operating profit (loss) | 9901 | €9,389 | €6,457 | -€2,932 | -31.2% |
| Financial charges | 65/66B | €179 | €172 | -€8 | -4.2% |
| Recurring financial charges | 65 | €179 | €172 | -€8 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €9,209 | €6,285 | -€2,924 | -31.8% |
| Income taxes | 67/77 | €2,930 | €1,948 | -€983 | -33.5% |
| Profit (loss) for the period | 9904 | €6,279 | €4,337 | -€1,942 | -30.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,279 | €4,337 | -€1,942 | -30.9% |
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.