APPLECROSS ROAD: 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.
What changed
APPLECROSS ROAD
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€38,550
2024 · €82,379-€43,828
Equity
€3.8m
2024 · €3.8m+€38,550
Cash
€41,540
2024 · €64,642-€23,102
Balance sheet total
€6.0m
2024 · €3.9m+€2.1m
Largest movements
Assets
- Receivables after one year +€1.5m
new in 2025: €1.5m
- Tangible fixed assets +€556,372
up €556,372 (+36.2%), from €1.5m to €2.1m
of which Land and buildings: +€416,838
Equity and liabilities
- Debts after one year +€1.9m
up €1.9m (+12,014%), from €16,000 to €1.9m
- Current portion of long-term debt +€112,826
up €112,826 (+353%), from €32,000 to €144,826
Income statement
- Financial income +€107,596
up €107,596 (+200%), from €53,701 to €161,297
- Financial charges +€68,961
up €68,961 (+725%), from €9,509 to €78,470
- Depreciation +€61,355
up €61,355 (+132%), from €46,460 to €107,816
- Taxes +€27,490
up €27,490 (+63.5%), from €43,260 to €70,750
- Gross operating margin +€6,783
up €6,783 (+4.7%), from €145,597 to €152,379
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.
Result 2024
€82,379
Gross operating margin
+€6,783
Depreciation
-€61,355
Other operating charges
-€401
Financial income
+€107,596
Financial charges
-€68,961
Taxes
-€27,490
Result 2025
€38,550
raises the resultlowers the result
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.
From operations
-€1.3m
Investment
-€712,637
Financing
+€2.0m
Cash 2024
€64,642
From operations (derived)
-€1.3m
Net result for the year
+€38,550
Depreciation
+€107,816
Receivables after one year
-€1.5m
Receivables within one year
-€7,318
Smaller working-capital items
+€2,557
Trade debts
-€33,125
Tax, wage and social debts
+€30,843
Other debts
+€15,203
Investment (derived)
-€712,637
Investment in fixed assets (net)
-€664,188
Current investments
-€48,449
Financing
+€2.0m
Debts after one year
+€1.9m
Current portion of long-term debt
+€112,826
Cash 2025
€41,540
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,888,099 | €5,978,273 | +€2.1m | +53.8% |
| Fixed assets | 21/28 | €1,536,780 | €2,093,152 | +€556,372 | +36.2% |
| Tangible fixed assets | 22/27 | €1,536,780 | €2,093,152 | +€556,372 | +36.2% |
| Land and buildings | 22 | €1,526,772 | €1,943,610 | +€416,838 | +27.3% |
| Plant, machinery and equipment | 23 | - | €144,420 | +€144,420 | |
| Furniture and vehicles | 24 | €10,008 | €5,122 | -€4,885 | -48.8% |
| Current assets | 29/58 | €2,351,319 | €3,885,121 | +€1.5m | +65.2% |
| Amounts receivable after more than one year | 29 | - | €1,500,000 | +€1.5m | |
| Other amounts receivable | 291 | - | €1,500,000 | +€1.5m | |
| Amounts receivable within one year | 40/41 | €22,649 | €29,967 | +€7,318 | +32.3% |
| Trade receivables | 40 | €8,109 | €29,967 | +€21,859 | +270% |
| Other amounts receivable | 41 | €14,540 | €0 | -€14,540 | -100% |
| Current investments | 50/53 | €2,248,185 | €2,296,634 | +€48,449 | +2.2% |
| Cash at bank and in hand | 54/58 | €64,642 | €41,540 | -€23,102 | -35.7% |
| Deferred charges and accrued income | 490/1 | €15,843 | €16,980 | +€1,138 | +7.2% |
| Total equity and liabilities | 10/49 | €3,888,099 | €5,978,273 | +€2.1m | +53.8% |
| Equity | 10/15 | €3,771,391 | €3,809,941 | +€38,550 | +1.0% |
| Contributions | 10/11 | €31,982 | €31,982 | = | 0.0% |
| Revaluation surpluses | 12 | €81,772 | €81,772 | = | 0.0% |
| Reserves | 13 | €3,657,637 | €3,696,187 | +€38,550 | +1.1% |
| Tax-exempt reserves | 132 | €550,422 | €219,450 | -€330,973 | -60.1% |
| Distributable reserves | 133 | €3,107,215 | €3,476,738 | +€369,523 | +11.9% |
| Amounts payable | 17/49 | €116,708 | €2,168,332 | +€2.1m | +1,758% |
| Amounts payable after more than one year | 17 | €16,000 | €1,938,183 | +€1.9m | +12,014% |
| Financial debts | 170/4 | €16,000 | €1,938,183 | +€1.9m | +12,014% |
| Amounts payable within one year | 42/48 | €97,399 | €223,146 | +€125,747 | +129% |
| Current portion of amounts payable after more than one year | 42 | €32,000 | €144,826 | +€112,826 | +353% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €55,739 | €22,614 | -€33,125 | -59.4% |
| Suppliers | 440/4 | €55,739 | €22,614 | -€33,125 | -59.4% |
| Taxes, remuneration and social security | 45 | €4,345 | €35,188 | +€30,843 | +710% |
| Taxes | 450/3 | €4,345 | €35,188 | +€30,843 | +710% |
| Other amounts payable | 47/48 | €5,316 | €20,519 | +€15,203 | +286% |
| Accrued charges and deferred income | 492/3 | €3,309 | €7,004 | +€3,695 | +112% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,460 | €107,816 | +€61,355 | +132% |
| Other operating charges | 640/8 | €17,689 | €18,089 | +€401 | +2.3% |
| Gross operating margin | 9900 | €145,597 | €152,379 | +€6,783 | +4.7% |
| Operating profit (loss) | 9901 | €81,448 | €26,474 | -€54,974 | -67.5% |
| Financial income | 75/76B | €53,701 | €161,297 | +€107,596 | +200% |
| Recurring financial income | 75 | €53,701 | €161,297 | +€107,596 | +200% |
| Financial charges | 65/66B | €9,509 | €78,470 | +€68,961 | +725% |
| Recurring financial charges | 65 | €9,509 | €78,470 | +€68,961 | +725% |
| Profit (loss) for the period before taxes | 9903 | €125,639 | €109,301 | -€16,339 | -13.0% |
| Income taxes | 67/77 | €43,260 | €70,750 | +€27,490 | +63.5% |
| Profit (loss) for the period | 9904 | €82,379 | €38,550 | -€43,828 | -53.2% |
| Transfer from tax-exempt reserves | 789 | - | €330,973 | +€330,973 | |
| Profit (loss) for the period to be appropriated | 9905 | €82,379 | €369,523 | +€287,144 | +349% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.