Apply Immo: 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.
Apply Immo
Largest movements
- Cash -€58,335
down €58,335 (-58.1%), from €100,482 to €42,147
mainly Debts after one year (-€229,081) and Investment in fixed assets (net) (-€212,912)
- Receivables within one year +€57,024
up €57,024 (+239.8%), from €23,778 to €80,802
of which Trade receivables: +€47,040
- Reserves +€379,119
up €379,119 (+26.8%), from €1.4m to €1.8m
of which Distributable reserves: +€379,119
- Debts after one year -€229,081
down €229,081 (-10.2%), from €2.2m to €2.0m
- Trade debts -€115,942
down €115,942 (-97.2%), from €119,339 to €3,397
- Other debts -€75,186
no longer reported in 2025 (was €75,186)
- Current portion of long-term debt +€61,449
up €61,449 (+16.5%), from €373,039 to €434,487
- Gross operating margin +€112,260
up €112,260 (+15.0%), from €749,875 to €862,135
- Taxes +€34,729
up €34,729 (+35.2%), from €98,698 to €133,427
- Other operating charges -€32,543
down €32,543 (-54.7%), from €59,439 to €26,896
- Depreciation +€10,644
up €10,644 (+5.8%), from €184,287 to €194,931
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 | €4,313,312 | €4,317,621 | +€4,310 | +0.1% |
| Fixed assets | 21/28 | €4,138,219 | €4,156,200 | +€17,981 | +0.4% |
| Tangible fixed assets | 22/27 | €4,137,874 | €4,155,855 | +€17,981 | +0.4% |
| Land and buildings | 22 | €4,030,211 | €4,029,920 | -€290 | 0.0% |
| Plant, machinery and equipment | 23 | €51,587 | €48,090 | -€3,497 | -6.8% |
| Furniture and vehicles | 24 | €56,076 | €77,845 | +€21,769 | +38.8% |
| Financial fixed assets | 28 | €345 | €345 | = | 0.0% |
| Current assets | 29/58 | €175,093 | €161,421 | -€13,672 | -7.8% |
| Amounts receivable within one year | 40/41 | €23,778 | €80,802 | +€57,024 | +239.8% |
| Trade receivables | 40 | €6,293 | €53,333 | +€47,040 | +747.5% |
| Other amounts receivable | 41 | €17,485 | €27,469 | +€9,985 | +57.1% |
| Cash at bank and in hand | 54/58 | €100,482 | €42,147 | -€58,335 | -58.1% |
| Deferred charges and accrued income | 490/1 | €50,833 | €38,471 | -€12,361 | -24.3% |
| Total equity and liabilities | 10/49 | €4,313,312 | €4,317,621 | +€4,310 | +0.1% |
| Equity | 10/15 | €1,435,144 | €1,814,263 | +€379,119 | +26.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,416,544 | €1,795,663 | +€379,119 | +26.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,414,684 | €1,793,803 | +€379,119 | +26.8% |
| Amounts payable | 17/49 | €2,878,168 | €2,503,358 | -€374,810 | -13.0% |
| Amounts payable after more than one year | 17 | €2,241,371 | €2,012,290 | -€229,081 | -10.2% |
| Financial debts | 170/4 | €2,241,371 | €2,012,290 | -€229,081 | -10.2% |
| Amounts payable within one year | 42/48 | €636,797 | €491,069 | -€145,728 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €373,039 | €434,487 | +€61,449 | +16.5% |
| Trade debts | 44 | €119,339 | €3,397 | -€115,942 | -97.2% |
| Suppliers | 440/4 | €119,339 | €3,397 | -€115,942 | -97.2% |
| Advances received on contracts in progress | 46 | €60,000 | - | -€60,000 | |
| Taxes, remuneration and social security | 45 | €9,234 | €53,185 | +€43,951 | +476.0% |
| Taxes | 450/3 | €9,234 | €53,185 | +€43,951 | +476.0% |
| Other amounts payable | 47/48 | €75,186 | - | -€75,186 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €184,287 | €194,931 | +€10,644 | +5.8% |
| Other operating charges | 640/8 | €59,439 | €26,896 | -€32,543 | -54.7% |
| Gross operating margin | 9900 | €749,875 | €862,135 | +€112,260 | +15.0% |
| Operating profit (loss) | 9901 | €506,149 | €640,308 | +€134,159 | +26.5% |
| Financial income | 75/76B | €642 | €365 | -€277 | -43.1% |
| Recurring financial income | 75 | €642 | €365 | -€277 | -43.1% |
| Financial charges | 65/66B | €123,662 | €128,127 | +€4,465 | +3.6% |
| Recurring financial charges | 65 | €123,662 | €128,127 | +€4,465 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €383,129 | €512,546 | +€129,417 | +33.8% |
| Income taxes | 67/77 | €98,698 | €133,427 | +€34,729 | +35.2% |
| Profit (loss) for the period | 9904 | €284,431 | €379,119 | +€94,688 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €284,431 | €379,119 | +€94,688 | +33.3% |
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 2 October 2026 via checked.be.