APPERITIVO BELGIUM: 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.
APPERITIVO BELGIUM
Largest movements
- Receivables within one year +€96,392
up €96,392 (+133%), from €72,465 to €168,857
of which Other amounts receivable: +€85,835
- Tangible fixed assets -€46,999
down €46,999 (-9.5%), from €494,389 to €447,390
of which Plant, machinery and equipment: -€32,946
- Cash -€15,407
down €15,407 (-97.4%), from €15,817 to €410
mainly Net result for the year (-€139,921) and Receivables within one year (-€96,392)
- Debts after one year +€153,180
up €153,180 (+19.9%), from €769,085 to €922,264
of which Other amounts payable: +€208,164
- Profit (loss) carried forward -€139,921
down €139,921 (-50.4%), from -€277,850 to -€417,772
- Current portion of long-term debt +€10,621
up €10,621 (+28.0%), from €37,920 to €48,541
- Tax, wage and social debts +€6,350
up €6,350 (+106%), from €5,991 to €12,340
of which Taxes: +€3,657
- Depreciation +€8,466
up €8,466 (+21.6%), from €39,140 to €47,606
- Financial charges +€8,093
up €8,093 (+79.3%), from €10,208 to €18,301
- Gross operating margin +€6,382
up €6,382 (+55.0%), from -€11,596 to -€5,214
- Other operating charges -€1,122
down €1,122 (-15.6%), from €7,193 to €6,071
- Staff costs -€1,066
down €1,066 (-1.7%), from €63,796 to €62,730
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 | €588,485 | €622,464 | +€33,979 | +5.8% |
| Formation expenses | 20 | €509 | €283 | -€226 | -44.4% |
| Fixed assets | 21/28 | €494,769 | €447,990 | -€46,779 | -9.5% |
| Intangible fixed assets | 21 | €380 | - | -€380 | |
| Tangible fixed assets | 22/27 | €494,389 | €447,390 | -€46,999 | -9.5% |
| Land and buildings | 22 | €33,070 | €30,038 | -€3,032 | -9.2% |
| Plant, machinery and equipment | 23 | €428,493 | €395,547 | -€32,946 | -7.7% |
| Furniture and vehicles | 24 | €32,826 | €21,805 | -€11,021 | -33.6% |
| Financial fixed assets | 28 | - | €600 | +€600 | |
| Current assets | 29/58 | €93,207 | €174,192 | +€80,985 | +86.9% |
| Amounts receivable after more than one year | 29 | €425 | €425 | = | 0.0% |
| Trade receivables | 290 | €425 | - | -€425 | |
| Other amounts receivable | 291 | - | €425 | +€425 | |
| Stocks and contracts in progress | 3 | €4,500 | €4,500 | = | 0.0% |
| Stocks | 30/36 | €4,500 | €4,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €72,465 | €168,857 | +€96,392 | +133% |
| Trade receivables | 40 | €67,623 | €78,179 | +€10,557 | +15.6% |
| Other amounts receivable | 41 | €4,842 | €90,678 | +€85,835 | +1,773% |
| Cash at bank and in hand | 54/58 | €15,817 | €410 | -€15,407 | -97.4% |
| Total equity and liabilities | 10/49 | €588,485 | €622,464 | +€33,979 | +5.8% |
| Equity | 10/15 | -€267,850 | -€407,772 | -€139,921 | -52.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€277,850 | -€417,772 | -€139,921 | -50.4% |
| Amounts payable | 17/49 | €856,335 | €1,030,236 | +€173,901 | +20.3% |
| Amounts payable after more than one year | 17 | €769,085 | €922,264 | +€153,180 | +19.9% |
| Financial debts | 170/4 | €402,233 | €347,249 | -€54,984 | -13.7% |
| Other amounts payable | 178/9 | €366,851 | €575,015 | +€208,164 | +56.7% |
| Amounts payable within one year | 42/48 | €86,185 | €101,972 | +€15,787 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €37,920 | €48,541 | +€10,621 | +28.0% |
| Trade debts | 44 | €37,936 | €41,090 | +€3,154 | +8.3% |
| Suppliers | 440/4 | €37,936 | €41,090 | +€3,154 | +8.3% |
| Taxes, remuneration and social security | 45 | €5,991 | €12,340 | +€6,350 | +106% |
| Taxes | 450/3 | - | €3,657 | +€3,657 | |
| Remuneration and social security | 454/9 | €5,991 | €8,684 | +€2,693 | +45.0% |
| Other amounts payable | 47/48 | €4,338 | - | -€4,338 | |
| Accrued charges and deferred income | 492/3 | €1,066 | €6,000 | +€4,934 | +463% |
| Remuneration, social security and pensions | 62 | €63,796 | €62,730 | -€1,066 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,140 | €47,606 | +€8,466 | +21.6% |
| Other operating charges | 640/8 | €7,193 | €6,071 | -€1,122 | -15.6% |
| Gross operating margin | 9900 | -€11,596 | -€5,214 | +€6,382 | +55.0% |
| Operating profit (loss) | 9901 | -€121,724 | -€121,621 | +€103 | +0.1% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €10,208 | €18,301 | +€8,093 | +79.3% |
| Recurring financial charges | 65 | €10,208 | €18,301 | +€8,093 | +79.3% |
| Profit (loss) for the period before taxes | 9903 | -€131,931 | -€139,921 | -€7,990 | -6.1% |
| Profit (loss) for the period | 9904 | -€131,931 | -€139,921 | -€7,990 | -6.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€131,931 | -€139,921 | -€7,990 | -6.1% |
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 13 October 2026 via checked.be.