APPFIE: 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.
APPFIE
Largest movements
- Receivables within one year -€49,515
down €49,515 (-16.6%), from €298,391 to €248,876
of which Trade receivables: -€40,079
- Deferred charges and accrued income -€46,193
down €46,193 (-62.6%), from €73,835 to €27,642
- Intangible fixed assets +€31,772
up €31,772 (+39.7%), from €80,119 to €111,891
- Cash -€19,956
down €19,956 (-99.9%), from €19,977 to €21
mainly Investment in fixed assets (net) (-€74,830) and Trade debts (-€69,128)
- Trade debts -€69,128
down €69,128 (-40.4%), from €171,097 to €101,969
- Accrued charges and deferred income -€22,456
down €22,456 (-38.1%), from €58,874 to €36,418
- Short-term financial debts +€19,557
up €19,557 (+26,100%), from €75 to €19,632
- Tax, wage and social debts -€17,475
down €17,475 (-35.4%), from €49,426 to €31,950
of which Taxes: -€12,959
- Depreciation +€27,769
up €27,769 (+181%), from €15,370 to €43,139
- Other operating charges -€12,086
down €12,086 (-92.5%), from €13,067 to €981
- Gross operating margin -€9,979
down €9,979 (-4.8%), from €209,205 to €199,225
- Taxes -€5,979
down €5,979 (-91.3%), from €6,552 to €573
- Financial charges -€3,936
down €3,936 (-49.1%), from €8,015 to €4,078
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 | €477,403 | €393,430 | -€83,973 | -17.6% |
| Fixed assets | 21/28 | €85,201 | €116,891 | +€31,691 | +37.2% |
| Intangible fixed assets | 21 | €80,119 | €111,891 | +€31,772 | +39.7% |
| Tangible fixed assets | 22/27 | €81 | €0 | -€81 | -100% |
| Furniture and vehicles | 24 | €81 | €0 | -€81 | -100% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €392,202 | €276,539 | -€115,664 | -29.5% |
| Amounts receivable within one year | 40/41 | €298,391 | €248,876 | -€49,515 | -16.6% |
| Trade receivables | 40 | €252,414 | €212,336 | -€40,079 | -15.9% |
| Other amounts receivable | 41 | €45,977 | €36,540 | -€9,437 | -20.5% |
| Cash at bank and in hand | 54/58 | €19,977 | €21 | -€19,956 | -99.9% |
| Deferred charges and accrued income | 490/1 | €73,835 | €27,642 | -€46,193 | -62.6% |
| Total equity and liabilities | 10/49 | €477,403 | €393,430 | -€83,973 | -17.6% |
| Equity | 10/15 | €197,931 | €201,121 | +€3,190 | +1.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €196,931 | €200,121 | +€3,190 | +1.6% |
| Distributable reserves | 133 | €196,931 | €200,121 | +€3,190 | +1.6% |
| Amounts payable | 17/49 | €279,472 | €192,309 | -€87,163 | -31.2% |
| Amounts payable within one year | 42/48 | €220,597 | €155,891 | -€64,707 | -29.3% |
| Financial debts | 43 | €75 | €19,632 | +€19,557 | +26,100% |
| Credit institutions | 430/8 | €75 | €19,632 | +€19,557 | +26,100% |
| Trade debts | 44 | €171,097 | €101,969 | -€69,128 | -40.4% |
| Suppliers | 440/4 | €171,097 | €101,969 | -€69,128 | -40.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €49,426 | €31,950 | -€17,475 | -35.4% |
| Taxes | 450/3 | €33,952 | €20,994 | -€12,959 | -38.2% |
| Remuneration and social security | 454/9 | €15,473 | €10,957 | -€4,517 | -29.2% |
| Other amounts payable | 47/48 | - | €2,340 | +€2,340 | |
| Accrued charges and deferred income | 492/3 | €58,874 | €36,418 | -€22,456 | -38.1% |
| Remuneration, social security and pensions | 62 | €145,695 | €147,976 | +€2,281 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,370 | €43,139 | +€27,769 | +181% |
| Other operating charges | 640/8 | €13,067 | €981 | -€12,086 | -92.5% |
| Gross operating margin | 9900 | €209,205 | €199,225 | -€9,979 | -4.8% |
| Operating profit (loss) | 9901 | €35,073 | €7,130 | -€27,943 | -79.7% |
| Financial income | 75/76B | €2,234 | €712 | -€1,523 | -68.1% |
| Recurring financial income | 75 | €2,234 | €712 | -€1,523 | -68.1% |
| Financial charges | 65/66B | €8,015 | €4,078 | -€3,936 | -49.1% |
| Recurring financial charges | 65 | €8,015 | €4,078 | -€3,936 | -49.1% |
| Profit (loss) for the period before taxes | 9903 | €29,293 | €3,763 | -€25,530 | -87.2% |
| Income taxes | 67/77 | €6,552 | €573 | -€5,979 | -91.3% |
| Profit (loss) for the period | 9904 | €22,741 | €3,190 | -€19,551 | -86.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,741 | €3,190 | -€19,551 | -86.0% |
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 17 October 2026 via checked.be.