APPELBOOM: 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.
APPELBOOM
Largest movements
- Cash +€504,993
up €504,993 (+66.0%), from €765,611 to €1.3m
mainly Trade debts (+€300,332) and Net result for the year (+€104,268)
- Tangible fixed assets -€23,794
down €23,794 (-36.7%), from €64,861 to €41,067
of which Furniture and vehicles: -€42,445
- Receivables within one year -€21,302
down €21,302 (-11.3%), from €188,659 to €167,356
of which Trade receivables: -€22,479
- Trade debts +€300,332
up €300,332 (+42.9%), from €700,772 to €1.0m
- Reserves +€100,000
up €100,000 (+85.3%), from €117,279 to €217,279
of which Distributable reserves: +€100,000
- Tax, wage and social debts +€53,488
up €53,488 (+174%), from €30,681 to €84,169
of which Taxes: +€52,426
- Gross operating margin +€94,779
up €94,779 (+34.7%), from €273,001 to €367,780
- Taxes +€31,222
up €31,222 (+120%), from €26,100 to €57,323
- Depreciation -€20,095
down €20,095 (-47.5%), from €42,333 to €22,238
- Staff costs +€17,709
up €17,709 (+12.8%), from €138,396 to €156,105
- Other operating charges -€5,990
down €5,990 (-26.3%), from €22,771 to €16,781
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 | €1,029,255 | €1,482,855 | +€453,600 | +44.1% |
| Fixed assets | 21/28 | €66,836 | €41,870 | -€24,966 | -37.4% |
| Intangible fixed assets | 21 | €1,975 | €804 | -€1,171 | -59.3% |
| Tangible fixed assets | 22/27 | €64,861 | €41,067 | -€23,794 | -36.7% |
| Plant, machinery and equipment | 23 | €8,579 | €6,936 | -€1,643 | -19.2% |
| Furniture and vehicles | 24 | €50,043 | €7,599 | -€42,445 | -84.8% |
| Other tangible fixed assets | 26 | €6,239 | €26,532 | +€20,293 | +325% |
| Current assets | 29/58 | €962,419 | €1,440,985 | +€478,566 | +49.7% |
| Amounts receivable within one year | 40/41 | €188,659 | €167,356 | -€21,302 | -11.3% |
| Trade receivables | 40 | €32,015 | €9,536 | -€22,479 | -70.2% |
| Other amounts receivable | 41 | €156,644 | €157,820 | +€1,176 | +0.8% |
| Cash at bank and in hand | 54/58 | €765,611 | €1,270,603 | +€504,993 | +66.0% |
| Deferred charges and accrued income | 490/1 | €8,150 | €3,025 | -€5,124 | -62.9% |
| Total equity and liabilities | 10/49 | €1,029,255 | €1,482,855 | +€453,600 | +44.1% |
| Equity | 10/15 | €293,315 | €397,582 | +€104,268 | +35.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €117,279 | €217,279 | +€100,000 | +85.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €111,129 | €211,129 | +€100,000 | +90.0% |
| Profit (loss) carried forward | 14 | €114,536 | €118,804 | +€4,268 | +3.7% |
| Amounts payable | 17/49 | €735,940 | €1,085,273 | +€349,333 | +47.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €735,940 | €1,085,273 | +€349,333 | +47.5% |
| Current portion of amounts payable after more than one year | 42 | €4,488 | €0 | -€4,488 | -100% |
| Trade debts | 44 | €700,772 | €1,001,104 | +€300,332 | +42.9% |
| Suppliers | 440/4 | €700,772 | €1,001,104 | +€300,332 | +42.9% |
| Taxes, remuneration and social security | 45 | €30,681 | €84,169 | +€53,488 | +174% |
| Taxes | 450/3 | €16,000 | €68,426 | +€52,426 | +328% |
| Remuneration and social security | 454/9 | €14,681 | €15,743 | +€1,062 | +7.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €3,474 | +€3,474 | |
| Remuneration, social security and pensions | 62 | €138,396 | €156,105 | +€17,709 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,333 | €22,238 | -€20,095 | -47.5% |
| Other operating charges | 640/8 | €22,771 | €16,781 | -€5,990 | -26.3% |
| Non-recurring operating charges | 66A | - | €13,224 | +€13,224 | |
| Gross operating margin | 9900 | €273,001 | €367,780 | +€94,779 | +34.7% |
| Operating profit (loss) | 9901 | €69,501 | €159,431 | +€89,930 | +129% |
| Financial income | 75/76B | €2,996 | €2,981 | -€16 | -0.5% |
| Recurring financial income | 75 | €2,996 | €2,981 | -€16 | -0.5% |
| Financial charges | 65/66B | €1,212 | €821 | -€391 | -32.3% |
| Recurring financial charges | 65 | €1,212 | €821 | -€391 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €71,285 | €161,591 | +€90,305 | +127% |
| Income taxes | 67/77 | €26,100 | €57,323 | +€31,222 | +120% |
| Profit (loss) for the period | 9904 | €45,185 | €104,268 | +€59,083 | +131% |
| Profit (loss) for the period to be appropriated | 9905 | €45,185 | €104,268 | +€59,083 | +131% |
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 17 October 2026 via checked.be.