APPELS DECOR: what changed
What changed
APPELS DECOR
NACE 43.341, Painting of buildings
filed annual accounts (NBB)
Net result for the year
€5,076
2024 · €8,665-€3,589
Equity
€184,069
2024 · €178,994+€5,076
Cash
€10,821
2024 · €18,513-€7,692
Balance sheet total
€580,140
2024 · €649,047-€68,907
Largest movements
Assets
- Receivables within one year -€51,855
down €51,855 (-22.9%), from €226,300 to €174,446
of which Trade receivables: -€47,873
- Tangible fixed assets -€12,181
down €12,181 (-9.4%), from €130,175 to €117,994
of which Other tangible fixed assets: -€10,231
- Cash -€7,692
down €7,692 (-41.5%), from €18,513 to €10,821
mainly Debts after one year (-€108,081) and Trade debts (-€8,539)
Equity and liabilities
- Debts after one year -€108,081
down €108,081 (-41.7%), from €259,281 to €151,200
- Tax, wage and social debts +€31,511
up €31,511 (+80.7%), from €39,061 to €70,572
of which Remuneration and social security: +€27,049
- Trade debts -€8,539
down €8,539 (-8.4%), from €101,546 to €93,007
- Short-term financial debts +€7,820
up €7,820 (+23.1%), from €33,795 to €41,615
Income statement
- Staff costs +€73,750
up €73,750 (+26.6%), from €277,155 to €350,904
- Gross operating margin +€69,825
up €69,825 (+22.2%), from €314,674 to €384,500
- Depreciation +€5,806
up €5,806 (+48.1%), from €12,069 to €17,875
- Financial income +€4,548
up €4,548 (+1,385%), from €328 to €4,877
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€8,665
Gross operating margin
+€69,825
Staff costs
-€73,750
Depreciation
-€5,806
Other operating charges
+€1,755
Financial income
+€4,548
Financial charges
+€3,406
Taxes
-€3,568
Result 2025
€5,076
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€95,953
Investment
-€5,694
Financing
-€97,950
Cash 2024
€18,513
From operations (derived)
+€95,953
Net result for the year
+€5,076
Depreciation
+€17,875
Stocks and contracts
-€1,943
Receivables within one year
+€51,855
Deferred charges and accrued income
-€877
Trade debts
-€8,539
Tax, wage and social debts
+€31,511
Other debts
+€995
Investment (derived)
-€5,694
Investment in fixed assets (net)
-€5,694
Financing
-€97,950
Debts after one year
-€108,081
Current portion of long-term debt
+€2,310
Short-term financial debts
+€7,820
Cash 2025
€10,821
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €649,047 | €580,140 | -€68,907 | -10.6% |
| Fixed assets | 21/28 | €130,175 | €117,994 | -€12,181 | -9.4% |
| Tangible fixed assets | 22/27 | €130,175 | €117,994 | -€12,181 | -9.4% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €26,545 | €22,806 | -€3,739 | -14.1% |
| Furniture and vehicles | 24 | €6,529 | €8,318 | +€1,789 | +27.4% |
| Other tangible fixed assets | 26 | €97,101 | €86,870 | -€10,231 | -10.5% |
| Current assets | 29/58 | €518,872 | €462,146 | -€56,727 | -10.9% |
| Stocks and contracts in progress | 3 | €274,059 | €276,002 | +€1,943 | +0.7% |
| Stocks | 30/36 | €50,225 | €53,834 | +€3,609 | +7.2% |
| Contracts in progress | 37 | €223,834 | €222,168 | -€1,666 | -0.7% |
| Amounts receivable within one year | 40/41 | €226,300 | €174,446 | -€51,855 | -22.9% |
| Trade receivables | 40 | €167,737 | €119,864 | -€47,873 | -28.5% |
| Other amounts receivable | 41 | €58,564 | €54,582 | -€3,982 | -6.8% |
| Cash at bank and in hand | 54/58 | €18,513 | €10,821 | -€7,692 | -41.5% |
| Deferred charges and accrued income | 490/1 | - | €877 | +€877 | |
| Total equity and liabilities | 10/49 | €649,047 | €580,140 | -€68,907 | -10.6% |
| Equity | 10/15 | €178,994 | €184,069 | +€5,076 | +2.8% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Capital | 10 | €140,000 | €140,000 | = | 0.0% |
| Issued capital | 100 | €140,000 | €140,000 | = | 0.0% |
| Reserves | 13 | €38,900 | €44,000 | +€5,100 | +13.1% |
| Non-distributable reserves | 130/1 | €14,000 | €14,000 | = | 0.0% |
| Legal reserve | 130 | €14,000 | €14,000 | = | 0.0% |
| Distributable reserves | 133 | €24,900 | €30,000 | +€5,100 | +20.5% |
| Profit (loss) carried forward | 14 | €94 | €69 | -€24 | -26.0% |
| Amounts payable | 17/49 | €470,053 | €396,070 | -€73,983 | -15.7% |
| Amounts payable after more than one year | 17 | €259,281 | €151,200 | -€108,081 | -41.7% |
| Financial debts | 170/4 | €259,281 | €151,200 | -€108,081 | -41.7% |
| Amounts payable within one year | 42/48 | €210,773 | €244,870 | +€34,098 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €36,371 | €38,681 | +€2,310 | +6.4% |
| Financial debts | 43 | €33,795 | €41,615 | +€7,820 | +23.1% |
| Credit institutions | 430/8 | €33,795 | €41,615 | +€7,820 | +23.1% |
| Trade debts | 44 | €101,546 | €93,007 | -€8,539 | -8.4% |
| Suppliers | 440/4 | €101,546 | €93,007 | -€8,539 | -8.4% |
| Taxes, remuneration and social security | 45 | €39,061 | €70,572 | +€31,511 | +80.7% |
| Taxes | 450/3 | €5,708 | €10,171 | +€4,462 | +78.2% |
| Remuneration and social security | 454/9 | €33,353 | €60,401 | +€27,049 | +81.1% |
| Other amounts payable | 47/48 | - | €995 | +€995 | |
| Remuneration, social security and pensions | 62 | €277,155 | €350,904 | +€73,750 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,069 | €17,875 | +€5,806 | +48.1% |
| Other operating charges | 640/8 | €2,306 | €551 | -€1,755 | -76.1% |
| Gross operating margin | 9900 | €314,674 | €384,500 | +€69,825 | +22.2% |
| Operating profit (loss) | 9901 | €23,145 | €15,170 | -€7,975 | -34.5% |
| Financial income | 75/76B | €328 | €4,877 | +€4,548 | +1,385% |
| Recurring financial income | 75 | €328 | €4,877 | +€4,548 | +1,385% |
| Financial charges | 65/66B | €14,926 | €11,520 | -€3,406 | -22.8% |
| Recurring financial charges | 65 | €14,926 | €11,520 | -€3,406 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €8,547 | €8,526 | -€21 | -0.2% |
| Income taxes | 67/77 | -€118 | €3,450 | +€3,568 | |
| Profit (loss) for the period | 9904 | €8,665 | €5,076 | -€3,589 | -41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,665 | €5,076 | -€3,589 | -41.4% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.