APPELMANS LIFTING: 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.
APPELMANS LIFTING
Largest movements
- Stocks and contracts -€656,513
down €656,513 (-56.0%), from €1.2m to €516,329
of which Stocks: -€475,768
- Tangible fixed assets +€162,465
up €162,465 (+37.3%), from €436,137 to €598,602
of which Land and buildings: +€156,925
- Receivables within one year -€92,165
down €92,165 (-8.4%), from €1.1m to €1.0m
of which Other amounts receivable: -€308,089
- Cash -€42,408
down €42,408 (-56.6%), from €74,920 to €32,512
mainly Trade debts (-€924,668) and Investment in fixed assets (net) (-€215,546)
- Trade debts -€924,668
down €924,668 (-62.2%), from €1.5m to €561,761
- Debts after one year +€272,156
up €272,156 (+205%), from €132,879 to €405,035
- Short-term financial debts -€83,947
down €83,947 (-58.7%), from €143,000 to €59,053
- Other debts +€67,000
up €67,000 (+16.8%), from €399,000 to €466,000
- Current portion of long-term debt +€58,342
up €58,342 (+139%), from €42,035 to €100,377
- Gross operating margin -€175,633
down €175,633 (-19.7%), from €891,851 to €716,217
- Taxes -€65,272
down €65,272 (-77.2%), from €84,510 to €19,238
- Depreciation +€44,172
up €44,172 (+374%), from €11,809 to €55,980
- Financial charges +€13,102
up €13,102 (+114%), from €11,455 to €24,557
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 | €2,800,191 | €2,168,740 | -€631,451 | -22.6% |
| Fixed assets | 21/28 | €450,786 | €610,351 | +€159,565 | +35.4% |
| Intangible fixed assets | 21 | €14,254 | €11,354 | -€2,900 | -20.3% |
| Tangible fixed assets | 22/27 | €436,137 | €598,602 | +€162,465 | +37.3% |
| Land and buildings | 22 | €427,759 | €584,685 | +€156,925 | +36.7% |
| Plant, machinery and equipment | 23 | €5,756 | €10,512 | +€4,757 | +82.6% |
| Furniture and vehicles | 24 | €2,622 | €3,405 | +€783 | +29.9% |
| Financial fixed assets | 28 | €394 | €394 | = | 0.0% |
| Current assets | 29/58 | €2,349,405 | €1,558,388 | -€791,017 | -33.7% |
| Stocks and contracts in progress | 3 | €1,172,843 | €516,329 | -€656,513 | -56.0% |
| Stocks | 30/36 | €981,927 | €506,159 | -€475,768 | -48.5% |
| Contracts in progress | 37 | €190,915 | €10,170 | -€180,745 | -94.7% |
| Amounts receivable within one year | 40/41 | €1,100,457 | €1,008,292 | -€92,165 | -8.4% |
| Trade receivables | 40 | €792,368 | €1,008,292 | +€215,924 | +27.3% |
| Other amounts receivable | 41 | €308,089 | - | -€308,089 | |
| Cash at bank and in hand | 54/58 | €74,920 | €32,512 | -€42,408 | -56.6% |
| Deferred charges and accrued income | 490/1 | €1,186 | €1,255 | +€69 | +5.8% |
| Total equity and liabilities | 10/49 | €2,800,191 | €2,168,740 | -€631,451 | -22.6% |
| Equity | 10/15 | €409,877 | €413,567 | +€3,691 | +0.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €347,877 | €351,567 | +€3,691 | +1.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €341,677 | €345,367 | +€3,691 | +1.1% |
| Amounts payable | 17/49 | €2,390,315 | €1,755,172 | -€635,142 | -26.6% |
| Amounts payable after more than one year | 17 | €132,879 | €405,035 | +€272,156 | +205% |
| Financial debts | 170/4 | €132,879 | €405,035 | +€272,156 | +205% |
| Amounts payable within one year | 42/48 | €2,255,566 | €1,348,219 | -€907,347 | -40.2% |
| Current portion of amounts payable after more than one year | 42 | €42,035 | €100,377 | +€58,342 | +139% |
| Financial debts | 43 | €143,000 | €59,053 | -€83,947 | -58.7% |
| Credit institutions | 430/8 | €143,000 | €59,053 | -€83,947 | -58.7% |
| Trade debts | 44 | €1,486,428 | €561,761 | -€924,668 | -62.2% |
| Suppliers | 440/4 | €1,486,428 | €561,761 | -€924,668 | -62.2% |
| Taxes, remuneration and social security | 45 | €185,103 | €161,028 | -€24,075 | -13.0% |
| Taxes | 450/3 | €114,403 | €89,236 | -€25,167 | -22.0% |
| Remuneration and social security | 454/9 | €70,700 | €71,792 | +€1,092 | +1.5% |
| Other amounts payable | 47/48 | €399,000 | €466,000 | +€67,000 | +16.8% |
| Accrued charges and deferred income | 492/3 | €1,870 | €1,919 | +€49 | +2.6% |
| Remuneration, social security and pensions | 62 | €528,350 | €527,445 | -€905 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,809 | €55,980 | +€44,172 | +374% |
| Other operating charges | 640/8 | €9,910 | €10,305 | +€395 | +4.0% |
| Gross operating margin | 9900 | €891,851 | €716,217 | -€175,633 | -19.7% |
| Operating profit (loss) | 9901 | €341,781 | €122,487 | -€219,295 | -64.2% |
| Financial income | 75/76B | €67 | - | -€67 | |
| Recurring financial income | 75 | €67 | - | -€67 | |
| Financial charges | 65/66B | €11,455 | €24,557 | +€13,102 | +114% |
| Recurring financial charges | 65 | €11,455 | €24,557 | +€13,102 | +114% |
| Profit (loss) for the period before taxes | 9903 | €330,393 | €97,929 | -€232,464 | -70.4% |
| Income taxes | 67/77 | €84,510 | €19,238 | -€65,272 | -77.2% |
| Profit (loss) for the period | 9904 | €245,883 | €78,691 | -€167,192 | -68.0% |
| Profit (loss) for the period to be appropriated | 9905 | €245,883 | €78,691 | -€167,192 | -68.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.