APPLICAIR: 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.
What changed
APPLICAIR
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€467,950
2024 · €2.2m-€1.8m
Equity
€960,677
2024 · €960,677
Cash
€585,570
2024 · €3.3m-€2.7m
Balance sheet total
€3.3m
2024 · €5.9m-€2.6m
Largest movements
Assets
- Cash -€2.7m
down €2.7m (-82.2%), from €3.3m to €585,570
mainly Other debts (-€2.3m) and Contributions, distributions and other (-€467,950)
- Stocks and contracts +€85,731
up €85,731 (+52.0%), from €165,013 to €250,744
of which Contracts in progress: +€108,053
Equity and liabilities
- Other debts -€2.3m
down €2.3m (-83.3%), from €2.8m to €470,052
- Trade debts -€231,949
down €231,949 (-13.2%), from €1.8m to €1.5m
Income statement
- Gross operating margin -€1.6m
down €1.6m (-57.0%), from €2.9m to €1.2m
- Taxes +€94,698
up €94,698 (+141.5%), from €66,933 to €161,631
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
€2.2m
Gross operating margin
-€1.6m
Staff costs
-€9,272
Depreciation
-€4,680
Other operating charges
-€4,557
Financial income
+€3,066
Financial charges
+€3,060
Taxes
-€94,698
Result 2025
€467,950
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.
From operations
-€2.1m
Investment
-€123,782
Financing
-€475,046
Cash 2024
€3.3m
From operations (derived)
-€2.1m
Net result for the year
+€467,950
Depreciation
+€33,897
Stocks and contracts
-€85,731
Receivables within one year
+€39,334
Deferred charges and accrued income
+€6,093
Trade debts
-€231,949
Tax, wage and social debts
-€4,023
Advances received
+€18,261
Other debts
-€2.3m
Investment (derived)
-€123,782
Investment in fixed assets (net)
-€123,782
Financing
-€475,046
Debts after one year
-€26,172
Current portion of long-term debt
+€19,076
Contributions, distributions and other
-€467,950
Cash 2025
€585,570
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,908,053 | €3,333,896 | -€2.6m | -43.6% |
| Fixed assets | 21/28 | €161,898 | €251,784 | +€89,885 | +55.5% |
| Tangible fixed assets | 22/27 | €149,478 | €206,924 | +€57,445 | +38.4% |
| Land and buildings | 22 | €56,294 | €90,438 | +€34,144 | +60.7% |
| Plant, machinery and equipment | 23 | €37,022 | €49,120 | +€12,098 | +32.7% |
| Furniture and vehicles | 24 | €56,162 | €37,438 | -€18,724 | -33.3% |
| Leasing and similar rights | 25 | - | €29,927 | +€29,927 | |
| Financial fixed assets | 28 | €12,420 | €44,860 | +€32,440 | +261.2% |
| Current assets | 29/58 | €5,746,155 | €3,082,112 | -€2.7m | -46.4% |
| Stocks and contracts in progress | 3 | €165,013 | €250,744 | +€85,731 | +52.0% |
| Stocks | 30/36 | €77,161 | €54,838 | -€22,322 | -28.9% |
| Contracts in progress | 37 | €87,852 | €195,905 | +€108,053 | +123.0% |
| Amounts receivable within one year | 40/41 | €1,630,035 | €1,590,700 | -€39,334 | -2.4% |
| Trade receivables | 40 | €1,564,265 | €1,451,360 | -€112,905 | -7.2% |
| Other amounts receivable | 41 | €65,770 | €139,341 | +€73,570 | +111.9% |
| Current investments | 50/53 | €636,283 | €636,283 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,289,916 | €585,570 | -€2.7m | -82.2% |
| Deferred charges and accrued income | 490/1 | €24,909 | €18,816 | -€6,093 | -24.5% |
| Total equity and liabilities | 10/49 | €5,908,053 | €3,333,896 | -€2.6m | -43.6% |
| Equity | 10/15 | €960,677 | €960,677 | = | 0.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €398,677 | €398,677 | = | 0.0% |
| Non-distributable reserves | 130/1 | €398,677 | €398,677 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Own shares acquired | 1312 | €386,283 | €386,283 | = | 0.0% |
| Profit (loss) carried forward | 14 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable | 17/49 | €4,947,375 | €2,373,218 | -€2.6m | -52.0% |
| Amounts payable after more than one year | 17 | €103,653 | €77,480 | -€26,172 | -25.2% |
| Financial debts | 170/4 | €103,653 | €77,480 | -€26,172 | -25.2% |
| Amounts payable within one year | 42/48 | €4,843,723 | €2,295,738 | -€2.5m | -52.6% |
| Current portion of amounts payable after more than one year | 42 | €30,369 | €49,445 | +€19,076 | +62.8% |
| Trade debts | 44 | €1,757,311 | €1,525,362 | -€231,949 | -13.2% |
| Suppliers | 440/4 | €1,757,311 | €1,525,362 | -€231,949 | -13.2% |
| Advances received on contracts in progress | 46 | €160,327 | €178,589 | +€18,261 | +11.4% |
| Taxes, remuneration and social security | 45 | €76,313 | €72,290 | -€4,023 | -5.3% |
| Taxes | 450/3 | €15,911 | €2,147 | -€13,764 | -86.5% |
| Remuneration and social security | 454/9 | €60,402 | €70,143 | +€9,741 | +16.1% |
| Other amounts payable | 47/48 | €2,819,403 | €470,052 | -€2.3m | -83.3% |
| Non-recurring operating income | 76A | €2,738 | €0 | -€2,738 | -100.0% |
| Remuneration, social security and pensions | 62 | €584,795 | €594,067 | +€9,272 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,217 | €33,897 | +€4,680 | +16.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €8,216 | €12,772 | +€4,557 | +55.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €2,893,470 | €1,245,511 | -€1.6m | -57.0% |
| Operating profit (loss) | 9901 | €2,271,243 | €604,775 | -€1.7m | -73.4% |
| Financial income | 75/76B | €24,524 | €27,590 | +€3,066 | +12.5% |
| Recurring financial income | 75 | €24,524 | €27,590 | +€3,066 | +12.5% |
| Financial charges | 65/66B | €5,843 | €2,783 | -€3,060 | -52.4% |
| Recurring financial charges | 65 | €5,843 | €2,783 | -€3,060 | -52.4% |
| Profit (loss) for the period before taxes | 9903 | €2,289,924 | €629,582 | -€1.7m | -72.5% |
| Income taxes | 67/77 | €66,933 | €161,631 | +€94,698 | +141.5% |
| Profit (loss) for the period | 9904 | €2,222,991 | €467,950 | -€1.8m | -78.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,222,991 | €467,950 | -€1.8m | -78.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.