APPELS CONSULT: 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.
APPELS CONSULT
Largest movements
- Cash +€52,804
up €52,804 (+22.2%), from €237,737 to €290,540
mainly Net result for the year (+€29,172) and Depreciation (+€20,161)
- Tangible fixed assets -€20,161
down €20,161 (-43.8%), from €46,058 to €25,897
of which Furniture and vehicles: -€17,777
- Receivables within one year +€12,483
up €12,483 (+31.6%), from €39,520 to €52,003
of which Trade receivables: +€18,388
- Profit (loss) carried forward +€29,172
up €29,172 (+12.3%), from €237,518 to €266,690
- Tax, wage and social debts +€10,842
up €10,842 (+72.2%), from €15,007 to €25,849
of which Taxes: +€10,305
- Trade debts +€5,112
up €5,112 (+148%), from €3,459 to €8,571
- Turnover +€90,932
up €90,932 (+99.8%), from €91,095 to €182,027
- Gross operating margin +€88,862
up €88,862 (+132%), from €67,244 to €156,106
- Taxes -€25,297
no longer reported in 2025 (was €25,297)
- Staff costs +€4,178
up €4,178 (+3.8%), from €108,866 to €113,044
- Depreciation -€3,278
down €3,278 (-14.0%), from €23,440 to €20,161
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 | €323,315 | €368,441 | +€45,126 | +14.0% |
| Fixed assets | 21/28 | €46,058 | €25,897 | -€20,161 | -43.8% |
| Tangible fixed assets | 22/27 | €46,058 | €25,897 | -€20,161 | -43.8% |
| Plant, machinery and equipment | 23 | €4,240 | €1,856 | -€2,384 | -56.2% |
| Furniture and vehicles | 24 | €41,818 | €24,041 | -€17,777 | -42.5% |
| Current assets | 29/58 | €277,257 | €342,544 | +€65,287 | +23.5% |
| Amounts receivable within one year | 40/41 | €39,520 | €52,003 | +€12,483 | +31.6% |
| Trade receivables | 40 | €33,616 | €52,003 | +€18,388 | +54.7% |
| Other amounts receivable | 41 | €5,905 | - | -€5,905 | |
| Cash at bank and in hand | 54/58 | €237,737 | €290,540 | +€52,804 | +22.2% |
| Total equity and liabilities | 10/49 | €323,315 | €368,441 | +€45,126 | +14.0% |
| Equity | 10/15 | €304,849 | €334,021 | +€29,172 | +9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €48,731 | €48,731 | = | 0.0% |
| Distributable reserves | 133 | €48,731 | €48,731 | = | 0.0% |
| Profit (loss) carried forward | 14 | €237,518 | €266,690 | +€29,172 | +12.3% |
| Amounts payable | 17/49 | €18,466 | €34,419 | +€15,954 | +86.4% |
| Amounts payable within one year | 42/48 | €18,466 | €34,419 | +€15,954 | +86.4% |
| Trade debts | 44 | €3,459 | €8,571 | +€5,112 | +148% |
| Suppliers | 440/4 | €3,459 | €8,571 | +€5,112 | +148% |
| Taxes, remuneration and social security | 45 | €15,007 | €25,849 | +€10,842 | +72.2% |
| Taxes | 450/3 | - | €10,305 | +€10,305 | |
| Remuneration and social security | 454/9 | €15,007 | €15,544 | +€537 | +3.6% |
| Turnover | 70 | €91,095 | €182,027 | +€90,932 | +99.8% |
| Non-recurring operating income | 76A | - | €517 | +€517 | |
| Goods, raw materials, services and sundry goods | 60/61 | €24,365 | €26,439 | +€2,074 | +8.5% |
| Remuneration, social security and pensions | 62 | €108,866 | €113,044 | +€4,178 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,440 | €20,161 | -€3,278 | -14.0% |
| Other operating charges | 640/8 | €85 | €88 | +€3 | +3.1% |
| Gross operating margin | 9900 | €67,244 | €156,106 | +€88,862 | +132% |
| Operating profit (loss) | 9901 | -€65,147 | €22,813 | +€87,960 | |
| Financial income | 75/76B | €6,539 | €6,449 | -€90 | -1.4% |
| Recurring financial income | 75 | €634 | €123 | -€511 | -80.7% |
| Non-recurring financial income | 76B | €5,905 | €6,326 | +€422 | +7.1% |
| Financial charges | 65/66B | €323 | €90 | -€233 | -72.2% |
| Recurring financial charges | 65 | €100 | €90 | -€10 | -9.9% |
| Non-recurring financial charges | 66B | €224 | - | -€224 | |
| Profit (loss) for the period before taxes | 9903 | -€58,931 | €29,172 | +€88,103 | |
| Income taxes | 67/77 | €25,297 | - | -€25,297 | |
| Profit (loss) for the period | 9904 | -€84,229 | €29,172 | +€113,401 | |
| Profit (loss) for the period to be appropriated | 9905 | -€84,229 | €29,172 | +€113,401 |
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 18 October 2026 via checked.be.