APPELKANT: 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.
APPELKANT
Largest movements
- Cash +€25,526
up €25,526 (+169%), from €15,078 to €40,604
mainly Tax, wage and social debts (+€10,131) and Net result for the year (+€9,127)
- Receivables within one year -€8,101
down €8,101 (-10.6%), from €76,448 to €68,347
of which Other amounts receivable: -€12,862
- Tangible fixed assets -€4,433
down €4,433 (-18.9%), from €23,464 to €19,031
of which Other tangible fixed assets: -€4,199
- Current portion of long-term debt -€24,767
down €24,767 (-68.0%), from €36,429 to €11,662
- Tax, wage and social debts +€10,131
up €10,131 (+255%), from €3,976 to €14,108
of which Remuneration and social security: +€6,000
- Reserves +€8,112
up €8,112 (+3.7%), from €217,704 to €225,817
- Other debts +€7,352
up €7,352 (+33.7%), from €21,815 to €29,167
- Trade debts +€4,784
up €4,784 (+290%), from €1,649 to €6,433
- Gross operating margin +€9,898
up €9,898 (+47.4%), from €20,874 to €30,772
- Financial income -€7,185
down €7,185 (-100.0%), from €7,185 to €0
- Taxes +€2,115
up €2,115 (+33.5%), from €6,319 to €8,435
- Other operating charges +€813
up €813 (+85.0%), from €957 to €1,770
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 | €365,419 | €378,102 | +€12,682 | +3.5% |
| Fixed assets | 21/28 | €273,464 | €269,031 | -€4,433 | -1.6% |
| Tangible fixed assets | 22/27 | €23,464 | €19,031 | -€4,433 | -18.9% |
| Plant, machinery and equipment | 23 | €262 | €1,907 | +€1,645 | +627% |
| Furniture and vehicles | 24 | €10,868 | €8,988 | -€1,879 | -17.3% |
| Other tangible fixed assets | 26 | €12,334 | €8,135 | -€4,199 | -34.0% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €91,955 | €109,071 | +€17,115 | +18.6% |
| Amounts receivable within one year | 40/41 | €76,448 | €68,347 | -€8,101 | -10.6% |
| Trade receivables | 40 | €26,615 | €31,376 | +€4,761 | +17.9% |
| Other amounts receivable | 41 | €49,833 | €36,971 | -€12,862 | -25.8% |
| Cash at bank and in hand | 54/58 | €15,078 | €40,604 | +€25,526 | +169% |
| Deferred charges and accrued income | 490/1 | €429 | €120 | -€309 | -72.1% |
| Total equity and liabilities | 10/49 | €365,419 | €378,102 | +€12,682 | +3.5% |
| Equity | 10/15 | €223,904 | €232,017 | +€8,112 | +3.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €217,704 | €225,817 | +€8,112 | +3.7% |
| Distributable reserves | 133 | €217,704 | €225,817 | +€8,112 | +3.7% |
| Amounts payable | 17/49 | €141,515 | €146,085 | +€4,570 | +3.2% |
| Amounts payable after more than one year | 17 | €67,126 | €71,500 | +€4,374 | +6.5% |
| Financial debts | 170/4 | €67,126 | €71,500 | +€4,374 | +6.5% |
| Amounts payable within one year | 42/48 | €63,869 | €61,370 | -€2,499 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €36,429 | €11,662 | -€24,767 | -68.0% |
| Trade debts | 44 | €1,649 | €6,433 | +€4,784 | +290% |
| Suppliers | 440/4 | €1,649 | €6,433 | +€4,784 | +290% |
| Taxes, remuneration and social security | 45 | €3,976 | €14,108 | +€10,131 | +255% |
| Taxes | 450/3 | €3,976 | €8,108 | +€4,131 | +104% |
| Remuneration and social security | 454/9 | - | €6,000 | +€6,000 | |
| Other amounts payable | 47/48 | €21,815 | €29,167 | +€7,352 | +33.7% |
| Accrued charges and deferred income | 492/3 | €10,520 | €13,215 | +€2,695 | +25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,932 | €8,048 | +€116 | +1.5% |
| Other operating charges | 640/8 | €957 | €1,770 | +€813 | +85.0% |
| Gross operating margin | 9900 | €20,874 | €30,772 | +€9,898 | +47.4% |
| Operating profit (loss) | 9901 | €11,985 | €20,954 | +€8,969 | +74.8% |
| Financial income | 75/76B | €7,185 | €0 | -€7,185 | -100.0% |
| Recurring financial income | 75 | €7,185 | €0 | -€7,185 | -100.0% |
| Financial charges | 65/66B | €3,656 | €3,392 | -€264 | -7.2% |
| Recurring financial charges | 65 | €3,656 | €3,392 | -€264 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €15,514 | €17,562 | +€2,048 | +13.2% |
| Income taxes | 67/77 | €6,319 | €8,435 | +€2,115 | +33.5% |
| Profit (loss) for the period | 9904 | €9,194 | €9,127 | -€67 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,194 | €9,127 | -€67 | -0.7% |
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 14 October 2026 via checked.be.