Appleyard: what changed
Two fiscal 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.
Appleyard
Largest movements
- Receivables within one year -€160,393
down €160,393 (-31.1%), from €516,533 to €356,141
of which Other amounts receivable: -€152,804
- Cash +€9,886
up €9,886 (+561.8%), from €1,760 to €11,646
mainly Receivables within one year (+€160,393) and Net result for the year (+€74,309)
- Tangible fixed assets -€8,327
down €8,327 (-24.8%), from €33,621 to €25,294
of which Furniture and vehicles: -€6,929
- Profit (loss) carried forward -€185,691
down €185,691 (-43.1%), from €431,051 to €245,361
- Short-term financial debts +€24,572
up €24,572 (+172.5%), from €14,241 to €38,814
- Accrued charges and deferred income +€18,677
up €18,677 (+3312.7%), from €564 to €19,241
- Trade debts -€11,565
down €11,565 (-30.2%), from €38,336 to €26,772
- Tax, wage and social debts -€6,103
down €6,103 (-12.0%), from €50,780 to €44,677
- Gross operating margin -€119,126
down €119,126 (-54.2%), from €219,735 to €100,609
- Taxes -€38,573
down €38,573 (-64.3%), from €59,945 to €21,373
- Financial income -€8,890
down €8,890 (-31.1%), from €28,602 to €19,711
- Financial charges +€8,701
up €8,701 (+264.4%), from €3,291 to €11,991
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 | €555,433 | €395,324 | -€160,109 | -28.8% |
| Fixed assets | 21/28 | €33,621 | €25,294 | -€8,327 | -24.8% |
| Tangible fixed assets | 22/27 | €33,621 | €25,294 | -€8,327 | -24.8% |
| Plant, machinery and equipment | 23 | €1,409 | €1,002 | -€406 | -28.8% |
| Furniture and vehicles | 24 | €24,711 | €17,782 | -€6,929 | -28.0% |
| Other tangible fixed assets | 26 | €7,501 | €6,509 | -€992 | -13.2% |
| Current assets | 29/58 | €521,812 | €370,030 | -€151,782 | -29.1% |
| Amounts receivable within one year | 40/41 | €516,533 | €356,141 | -€160,393 | -31.1% |
| Trade receivables | 40 | €59,608 | €52,019 | -€7,589 | -12.7% |
| Other amounts receivable | 41 | €456,925 | €304,122 | -€152,804 | -33.4% |
| Cash at bank and in hand | 54/58 | €1,760 | €11,646 | +€9,886 | +561.8% |
| Deferred charges and accrued income | 490/1 | €3,519 | €2,244 | -€1,275 | -36.2% |
| Total equity and liabilities | 10/49 | €555,433 | €395,324 | -€160,109 | -28.8% |
| Equity | 10/15 | €451,511 | €265,821 | -€185,691 | -41.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €431,051 | €245,361 | -€185,691 | -43.1% |
| Amounts payable | 17/49 | €103,921 | €129,503 | +€25,582 | +24.6% |
| Amounts payable within one year | 42/48 | €103,357 | €110,262 | +€6,905 | +6.7% |
| Financial debts | 43 | €14,241 | €38,814 | +€24,572 | +172.5% |
| Credit institutions | 430/8 | €14,241 | €38,814 | +€24,572 | +172.5% |
| Trade debts | 44 | €38,336 | €26,772 | -€11,565 | -30.2% |
| Suppliers | 440/4 | €38,336 | €26,772 | -€11,565 | -30.2% |
| Taxes, remuneration and social security | 45 | €50,780 | €44,677 | -€6,103 | -12.0% |
| Taxes | 450/3 | €50,780 | €44,677 | -€6,103 | -12.0% |
| Accrued charges and deferred income | 492/3 | €564 | €19,241 | +€18,677 | +3312.7% |
| Non-recurring operating income | 76A | - | €694 | +€694 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,327 | €12,082 | +€1,755 | +17.0% |
| Other operating charges | 640/8 | €574 | €524 | -€49 | -8.6% |
| Non-recurring operating charges | 66A | - | €41 | +€41 | |
| Gross operating margin | 9900 | €219,735 | €100,609 | -€119,126 | -54.2% |
| Operating profit (loss) | 9901 | €208,835 | €87,962 | -€120,873 | -57.9% |
| Financial income | 75/76B | €28,602 | €19,711 | -€8,890 | -31.1% |
| Recurring financial income | 75 | €28,602 | €19,711 | -€8,890 | -31.1% |
| Financial charges | 65/66B | €3,291 | €11,991 | +€8,701 | +264.4% |
| Recurring financial charges | 65 | €3,291 | €11,991 | +€8,701 | +264.4% |
| Profit (loss) for the period before taxes | 9903 | €234,145 | €95,682 | -€138,464 | -59.1% |
| Income taxes | 67/77 | €59,945 | €21,373 | -€38,573 | -64.3% |
| Profit (loss) for the period | 9904 | €174,200 | €74,309 | -€99,891 | -57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €174,200 | €74,309 | -€99,891 | -57.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.