APPELTANTS & GERLO: what changed
Two fiscal 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.
APPELTANTS & GERLO
Largest movements
- Tangible fixed assets -€9,448
down €9,448 (-10.9%), from €86,317 to €76,869
of which Land and buildings: -€9,157
- Cash -€1,020
down €1,020 (-97.3%), from €1,048 to €28
mainly Debts after one year (-€10,030) and Net result for the year (-€1,001)
- Debts after one year -€10,030
down €10,030 (-20.4%), from €49,161 to €39,131
- Profit (loss) carried forward -€1,001
down €1,001 (-10.3%), from €9,741 to €8,740
- Gross operating margin -€2,537
down €2,537 (-18.6%), from €13,647 to €11,109
- Other operating charges -€351
down €351 (-23.1%), from €1,519 to €1,168
- Taxes -€275
no longer reported in 2025 (was €275)
- Financial charges -€201
down €201 (-11.8%), from €1,701 to €1,501
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.
Cash bridge derived
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 | €92,059 | €81,390 | -€10,669 | -11.6% |
| Fixed assets | 21/28 | €86,317 | €76,869 | -€9,448 | -10.9% |
| Tangible fixed assets | 22/27 | €86,317 | €76,869 | -€9,448 | -10.9% |
| Land and buildings | 22 | €85,735 | €76,578 | -€9,157 | -10.7% |
| Furniture and vehicles | 24 | €581 | €290 | -€291 | -50.1% |
| Current assets | 29/58 | €5,742 | €4,521 | -€1,221 | -21.3% |
| Amounts receivable within one year | 40/41 | €4,248 | €3,960 | -€288 | -6.8% |
| Trade receivables | 40 | €3,523 | €3,360 | -€163 | -4.6% |
| Other amounts receivable | 41 | €725 | €600 | -€125 | -17.3% |
| Cash at bank and in hand | 54/58 | €1,048 | €28 | -€1,020 | -97.3% |
| Deferred charges and accrued income | 490/1 | €446 | €533 | +€88 | +19.6% |
| Total equity and liabilities | 10/49 | €92,059 | €81,390 | -€10,669 | -11.6% |
| Equity | 10/15 | €28,341 | €27,340 | -€1,001 | -3.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,741 | €8,740 | -€1,001 | -10.3% |
| Amounts payable | 17/49 | €63,718 | €54,050 | -€9,668 | -15.2% |
| Amounts payable after more than one year | 17 | €49,161 | €39,131 | -€10,030 | -20.4% |
| Financial debts | 170/4 | €49,161 | €39,131 | -€10,030 | -20.4% |
| Amounts payable within one year | 42/48 | €14,556 | €14,918 | +€362 | +2.5% |
| Financial debts | 43 | €9,799 | €10,030 | +€231 | +2.4% |
| Credit institutions | 430/8 | €9,799 | €10,030 | +€231 | +2.4% |
| Trade debts | 44 | €197 | €151 | -€46 | -23.3% |
| Suppliers | 440/4 | €197 | €151 | -€46 | -23.3% |
| Taxes, remuneration and social security | 45 | €181 | €358 | +€177 | +97.4% |
| Taxes | 450/3 | €181 | €358 | +€177 | +97.4% |
| Other amounts payable | 47/48 | €4,379 | €4,379 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,449 | €9,448 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,519 | €1,168 | -€351 | -23.1% |
| Gross operating margin | 9900 | €13,647 | €11,109 | -€2,537 | -18.6% |
| Operating profit (loss) | 9901 | €2,679 | €493 | -€2,186 | -81.6% |
| Financial income | 75/76B | €2 | €6 | +€4 | +175.3% |
| Recurring financial income | 75 | €2 | €6 | +€4 | +175.3% |
| Financial charges | 65/66B | €1,701 | €1,501 | -€201 | -11.8% |
| Recurring financial charges | 65 | €1,701 | €1,501 | -€201 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €980 | -€1,001 | -€1,981 | |
| Income taxes | 67/77 | €275 | - | -€275 | |
| Profit (loss) for the period | 9904 | €705 | -€1,001 | -€1,707 | |
| Profit (loss) for the period to be appropriated | 9905 | €705 | -€1,001 | -€1,707 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.