Appgrade: 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.
Appgrade
Largest movements
- Receivables within one year -€36,138
down €36,138 (-97.7%), from €36,999 to €861
of which Trade receivables: -€35,151
- Cash +€27,116
up €27,116 (+19.1%), from €141,790 to €168,906
mainly Net result for the year (+€78,892) and Receivables within one year (+€36,138)
- Current investments -€26,557
down €26,557 (-29.5%), from €89,956 to €63,399
- Deferred charges and accrued income +€6,139
up €6,139 (+185%), from €3,320 to €9,459
- Tangible fixed assets -€4,756
down €4,756 (-13.5%), from €35,244 to €30,489
of which Furniture and vehicles: -€5,369
- Profit (loss) carried forward -€38,755
down €38,755 (-20.3%), from €190,495 to €151,740
- Trade debts +€12,663
up €12,663 (+176%), from €7,182 to €19,845
- Other debts -€11,525
down €11,525 (-16.3%), from €70,588 to €59,063
- Gross operating margin +€52,847
up €52,847 (+27.5%), from €192,170 to €245,017
- Staff costs +€27,141
up €27,141 (+25.9%), from €104,662 to €131,803
- Taxes +€4,000
up €4,000 (+20.4%), from €19,651 to €23,651
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 | €314,838 | €279,613 | -€35,225 | -11.2% |
| Fixed assets | 21/28 | €35,244 | €30,489 | -€4,756 | -13.5% |
| Tangible fixed assets | 22/27 | €35,244 | €30,489 | -€4,756 | -13.5% |
| Furniture and vehicles | 24 | €11,573 | €6,204 | -€5,369 | -46.4% |
| Other tangible fixed assets | 26 | €23,671 | €24,285 | +€614 | +2.6% |
| Current assets | 29/58 | €279,594 | €249,124 | -€30,470 | -10.9% |
| Amounts receivable after more than one year | 29 | €7,529 | €6,499 | -€1,031 | -13.7% |
| Other amounts receivable | 291 | €7,529 | €6,499 | -€1,031 | -13.7% |
| Amounts receivable within one year | 40/41 | €36,999 | €861 | -€36,138 | -97.7% |
| Trade receivables | 40 | €35,151 | - | -€35,151 | |
| Other amounts receivable | 41 | €1,849 | €861 | -€987 | -53.4% |
| Current investments | 50/53 | €89,956 | €63,399 | -€26,557 | -29.5% |
| Cash at bank and in hand | 54/58 | €141,790 | €168,906 | +€27,116 | +19.1% |
| Deferred charges and accrued income | 490/1 | €3,320 | €9,459 | +€6,139 | +185% |
| Total equity and liabilities | 10/49 | €314,838 | €279,613 | -€35,225 | -11.2% |
| Equity | 10/15 | €210,900 | €172,145 | -€38,755 | -18.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €190,495 | €151,740 | -€38,755 | -20.3% |
| Amounts payable | 17/49 | €103,938 | €107,468 | +€3,530 | +3.4% |
| Amounts payable within one year | 42/48 | €103,938 | €107,468 | +€3,530 | +3.4% |
| Financial debts | 43 | €124 | - | -€124 | |
| Credit institutions | 430/8 | €124 | - | -€124 | |
| Trade debts | 44 | €7,182 | €19,845 | +€12,663 | +176% |
| Suppliers | 440/4 | €7,182 | €19,845 | +€12,663 | +176% |
| Taxes, remuneration and social security | 45 | €26,044 | €28,559 | +€2,515 | +9.7% |
| Taxes | 450/3 | €25,983 | €27,802 | +€1,819 | +7.0% |
| Remuneration and social security | 454/9 | €61 | €757 | +€696 | +1,139% |
| Other amounts payable | 47/48 | €70,588 | €59,063 | -€11,525 | -16.3% |
| Remuneration, social security and pensions | 62 | €104,662 | €131,803 | +€27,141 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,421 | €9,881 | +€1,460 | +17.3% |
| Other operating charges | 640/8 | €594 | €754 | +€160 | +27.0% |
| Gross operating margin | 9900 | €192,170 | €245,017 | +€52,847 | +27.5% |
| Operating profit (loss) | 9901 | €78,493 | €102,579 | +€24,086 | +30.7% |
| Financial income | 75/76B | €308 | €852 | +€545 | +177% |
| Recurring financial income | 75 | €308 | €852 | +€545 | +177% |
| Financial charges | 65/66B | €761 | €888 | +€127 | +16.7% |
| Recurring financial charges | 65 | €761 | €888 | +€127 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €78,040 | €102,543 | +€24,503 | +31.4% |
| Income taxes | 67/77 | €19,651 | €23,651 | +€4,000 | +20.4% |
| Profit (loss) for the period | 9904 | €58,389 | €78,892 | +€20,503 | +35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €58,389 | €78,892 | +€20,503 | +35.1% |
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 14 October 2026 via checked.be.