Appel Kiwi: what changed
Two fiscal 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.
Appel Kiwi
Largest movements
- Cash +€31,311
up €31,311 (+181.8%), from €17,223 to €48,534
mainly Net result for the year (+€41,481) and Debts after one year (+€19,922)
- Financial fixed assets +€14,800
new in 2025: €14,800
- Receivables within one year +€9,788
up €9,788 (+20.8%), from €47,125 to €56,913
of which Other amounts receivable: +€31,362
- Tangible fixed assets +€5,375
up €5,375 (+96.4%), from €5,575 to €10,950
- Profit (loss) carried forward +€41,481
up €41,481 (+137.0%), from €30,284 to €71,765
- Debts after one year +€19,922
new in 2025: €19,922
- Trade debts -€13,575
down €13,575 (-67.5%), from €20,099 to €6,524
- Current portion of long-term debt +€11,374
new in 2025: €11,374
- Tax, wage and social debts +€3,439
up €3,439 (+39.5%), from €8,701 to €12,140
- Gross operating margin +€14,573
up €14,573 (+35.4%), from €41,195 to €55,768
- Taxes +€2,783
up €2,783 (+34.8%), from €8,000 to €10,783
- Depreciation +€1,990
up €1,990 (+274.4%), from €725 to €2,715
- Other operating charges -€1,370
down €1,370 (-66.3%), from €2,066 to €696
- Financial income +€963
new in 2025: €963
of which Non-recurring financial income: +€840
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 | €69,923 | €131,740 | +€61,817 | +88.4% |
| Fixed assets | 21/28 | €5,575 | €25,751 | +€20,176 | +361.9% |
| Tangible fixed assets | 22/27 | €5,575 | €10,950 | +€5,375 | +96.4% |
| Furniture and vehicles | 24 | €5,575 | €10,950 | +€5,375 | +96.4% |
| Financial fixed assets | 28 | - | €14,800 | +€14,800 | |
| Current assets | 29/58 | €64,348 | €105,989 | +€41,641 | +64.7% |
| Amounts receivable within one year | 40/41 | €47,125 | €56,913 | +€9,788 | +20.8% |
| Trade receivables | 40 | €33,407 | €11,833 | -€21,574 | -64.6% |
| Other amounts receivable | 41 | €13,718 | €45,080 | +€31,362 | +228.6% |
| Cash at bank and in hand | 54/58 | €17,223 | €48,534 | +€31,311 | +181.8% |
| Deferred charges and accrued income | 490/1 | - | €542 | +€542 | |
| Total equity and liabilities | 10/49 | €69,923 | €131,740 | +€61,817 | +88.4% |
| Equity | 10/15 | €40,284 | €81,765 | +€41,481 | +103.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,284 | €71,765 | +€41,481 | +137.0% |
| Amounts payable | 17/49 | €29,639 | €49,975 | +€20,336 | +68.6% |
| Amounts payable after more than one year | 17 | - | €19,922 | +€19,922 | |
| Financial debts | 170/4 | - | €19,922 | +€19,922 | |
| Amounts payable within one year | 42/48 | €29,639 | €30,053 | +€414 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | - | €11,374 | +€11,374 | |
| Trade debts | 44 | €20,099 | €6,524 | -€13,575 | -67.5% |
| Suppliers | 440/4 | €20,099 | €6,524 | -€13,575 | -67.5% |
| Taxes, remuneration and social security | 45 | €8,701 | €12,140 | +€3,439 | +39.5% |
| Taxes | 450/3 | €8,701 | €12,140 | +€3,439 | +39.5% |
| Other amounts payable | 47/48 | €840 | €16 | -€824 | -98.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €725 | €2,715 | +€1,990 | +274.4% |
| Other operating charges | 640/8 | €2,066 | €696 | -€1,370 | -66.3% |
| Gross operating margin | 9900 | €41,195 | €55,768 | +€14,573 | +35.4% |
| Operating profit (loss) | 9901 | €38,404 | €52,357 | +€13,954 | +36.3% |
| Financial income | 75/76B | - | €963 | +€963 | |
| Recurring financial income | 75 | - | €123 | +€123 | |
| Non-recurring financial income | 76B | - | €840 | +€840 | |
| Financial charges | 65/66B | €120 | €1,056 | +€936 | +780.9% |
| Recurring financial charges | 65 | €120 | €1,056 | +€936 | +780.9% |
| Profit (loss) for the period before taxes | 9903 | €38,284 | €52,264 | +€13,980 | +36.5% |
| Income taxes | 67/77 | €8,000 | €10,783 | +€2,783 | +34.8% |
| Profit (loss) for the period | 9904 | €30,284 | €41,481 | +€11,197 | +37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,284 | €41,481 | +€11,197 | +37.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.