Apple Pie: 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.
Apple Pie
Largest movements
- Receivables within one year -€71,564
down €71,564 (-45.6%), from €157,072 to €85,508
of which Other amounts receivable: -€77,244
- Tangible fixed assets -€48,654
down €48,654 (-4.8%), from €1.0m to €967,744
of which Land and buildings: -€43,214
- Intangible fixed assets -€20,363
down €20,363 (-40.2%), from €50,634 to €30,271
- Cash +€19,648
up €19,648 (+120.9%), from €16,251 to €35,899
mainly Contributions, distributions and other (+€151,550) and Depreciation (+€148,990)
- Debts after one year -€212,829
down €212,829 (-31.3%), from €679,491 to €466,662
of which Financial debts: -€200,361
- Contributions +€151,550
up €151,550 (+137.8%), from €110,000 to €261,550
- Current portion of long-term debt -€24,587
down €24,587 (-12.8%), from €191,943 to €167,356
- Tax, wage and social debts -€22,343
down €22,343 (-21.4%), from €104,298 to €81,955
of which Taxes: -€23,781
- Gross operating margin +€202,412
up €202,412 (+27.5%), from €736,659 to €939,071
- Staff costs +€42,366
up €42,366 (+6.3%), from €671,801 to €714,167
- Other operating charges -€9,654
down €9,654 (-26.3%), from €36,667 to €27,012
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 | €1,426,726 | €1,315,348 | -€111,378 | -7.8% |
| Fixed assets | 21/28 | €1,070,902 | €1,001,885 | -€69,017 | -6.4% |
| Intangible fixed assets | 21 | €50,634 | €30,271 | -€20,363 | -40.2% |
| Tangible fixed assets | 22/27 | €1,016,398 | €967,744 | -€48,654 | -4.8% |
| Land and buildings | 22 | €626,579 | €583,365 | -€43,214 | -6.9% |
| Plant, machinery and equipment | 23 | €162,505 | €138,255 | -€24,250 | -14.9% |
| Furniture and vehicles | 24 | €16,793 | €23,724 | +€6,931 | +41.3% |
| Leasing and similar rights | 25 | €210,521 | €222,400 | +€11,878 | +5.6% |
| Financial fixed assets | 28 | €3,870 | €3,870 | = | 0.0% |
| Current assets | 29/58 | €355,824 | €313,463 | -€42,361 | -11.9% |
| Stocks and contracts in progress | 3 | €161,440 | €175,342 | +€13,902 | +8.6% |
| Stocks | 30/36 | €161,440 | €175,342 | +€13,902 | +8.6% |
| Amounts receivable within one year | 40/41 | €157,072 | €85,508 | -€71,564 | -45.6% |
| Trade receivables | 40 | €30,729 | €36,410 | +€5,681 | +18.5% |
| Other amounts receivable | 41 | €126,343 | €49,098 | -€77,244 | -61.1% |
| Cash at bank and in hand | 54/58 | €16,251 | €35,899 | +€19,648 | +120.9% |
| Deferred charges and accrued income | 490/1 | €21,062 | €16,715 | -€4,347 | -20.6% |
| Total equity and liabilities | 10/49 | €1,426,726 | €1,315,348 | -€111,378 | -7.8% |
| Equity | 10/15 | €73,252 | €223,196 | +€149,944 | +204.7% |
| Contributions | 10/11 | €110,000 | €261,550 | +€151,550 | +137.8% |
| Reserves | 13 | €134,580 | €134,580 | = | 0.0% |
| Distributable reserves | 133 | €134,580 | €134,580 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€171,328 | -€172,934 | -€1,606 | -0.9% |
| Amounts payable | 17/49 | €1,353,474 | €1,092,152 | -€261,322 | -19.3% |
| Amounts payable after more than one year | 17 | €679,491 | €466,662 | -€212,829 | -31.3% |
| Financial debts | 170/4 | €507,913 | €307,552 | -€200,361 | -39.4% |
| Other amounts payable | 178/9 | €171,578 | €159,110 | -€12,468 | -7.3% |
| Amounts payable within one year | 42/48 | €673,983 | €625,490 | -€48,493 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €191,943 | €167,356 | -€24,587 | -12.8% |
| Financial debts | 43 | €53,660 | €52,237 | -€1,422 | -2.7% |
| Credit institutions | 430/8 | €53,660 | €52,237 | -€1,422 | -2.7% |
| Trade debts | 44 | €321,209 | €320,465 | -€743 | -0.2% |
| Suppliers | 440/4 | €321,209 | €320,465 | -€743 | -0.2% |
| Taxes, remuneration and social security | 45 | €104,298 | €81,955 | -€22,343 | -21.4% |
| Taxes | 450/3 | €29,645 | €5,864 | -€23,781 | -80.2% |
| Remuneration and social security | 454/9 | €74,653 | €76,090 | +€1,437 | +1.9% |
| Other amounts payable | 47/48 | €2,873 | €3,477 | +€603 | +21.0% |
| Non-recurring operating income | 76A | €709 | €0 | -€709 | -100.0% |
| Remuneration, social security and pensions | 62 | €671,801 | €714,167 | +€42,366 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,290 | €148,990 | +€1,700 | +1.2% |
| Other operating charges | 640/8 | €36,667 | €27,012 | -€9,654 | -26.3% |
| Gross operating margin | 9900 | €736,659 | €939,071 | +€202,412 | +27.5% |
| Operating profit (loss) | 9901 | -€119,098 | €48,902 | +€168,001 | |
| Financial income | 75/76B | €2,261 | €0 | -€2,261 | -100.0% |
| Recurring financial income | 75 | €2,261 | €0 | -€2,261 | -100.0% |
| Financial charges | 65/66B | €53,546 | €48,941 | -€4,605 | -8.6% |
| Recurring financial charges | 65 | €53,546 | €48,941 | -€4,605 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | -€170,383 | -€39 | +€170,344 | +100.0% |
| Income taxes | 67/77 | €945 | €1,568 | +€623 | +65.9% |
| Profit (loss) for the period | 9904 | -€171,328 | -€1,606 | +€169,721 | +99.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€171,328 | -€1,606 | +€169,721 | +99.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.