APPO: 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.
APPO
Largest movements
- Stocks and contracts +€80,598
up €80,598 (+141.3%), from €57,054 to €137,652
- Trade debts +€76,304
up €76,304 (+174.3%), from €43,771 to €120,075
- Profit (loss) carried forward +€10,876
up €10,876 (+151.0%), from €7,202 to €18,078
- Tax, wage and social debts -€6,075
no longer reported in 2025 (was €6,075)
of which Taxes: -€4,875
- Turnover -€63,125
down €63,125 (-24.7%), from €255,130 to €192,005
- Purchases and services -€58,856
down €58,856 (-24.5%), from €239,859 to €181,003
- Staff costs -€8,737
no longer reported in 2025 (was €8,737)
- Gross operating margin -€5,712
down €5,712 (-34.2%), from €16,714 to €11,003
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,054 | €138,160 | +€81,106 | +142.2% |
| Current assets | 29/58 | €57,054 | €138,160 | +€81,106 | +142.2% |
| Stocks and contracts in progress | 3 | €57,054 | €137,652 | +€80,598 | +141.3% |
| Stocks | 30/36 | €57,054 | €137,652 | +€80,598 | +141.3% |
| Amounts receivable within one year | 40/41 | - | €507 | +€507 | |
| Other amounts receivable | 41 | - | €507 | +€507 | |
| Total equity and liabilities | 10/49 | €57,054 | €138,160 | +€81,106 | +142.2% |
| Equity | 10/15 | €7,203 | €18,079 | +€10,876 | +151.0% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,202 | €18,078 | +€10,876 | +151.0% |
| Amounts payable | 17/49 | €49,851 | €120,080 | +€70,229 | +140.9% |
| Amounts payable within one year | 42/48 | €49,851 | €120,080 | +€70,229 | +140.9% |
| Financial debts | 43 | €5 | €5 | = | 0.0% |
| Credit institutions | 430/8 | €5 | €5 | = | 0.0% |
| Trade debts | 44 | €43,771 | €120,075 | +€76,304 | +174.3% |
| Suppliers | 440/4 | €43,771 | €120,075 | +€76,304 | +174.3% |
| Taxes, remuneration and social security | 45 | €6,075 | - | -€6,075 | |
| Taxes | 450/3 | €4,875 | - | -€4,875 | |
| Remuneration and social security | 454/9 | €1,200 | - | -€1,200 | |
| Turnover | 70 | €255,130 | €192,005 | -€63,125 | -24.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €239,859 | €181,003 | -€58,856 | -24.5% |
| Remuneration, social security and pensions | 62 | €8,737 | - | -€8,737 | |
| Other operating charges | 640/8 | - | €126 | +€126 | |
| Gross operating margin | 9900 | €16,714 | €11,003 | -€5,712 | -34.2% |
| Operating profit (loss) | 9901 | €7,978 | €10,876 | +€2,899 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €7,978 | €10,876 | +€2,899 | +36.3% |
| Profit (loss) for the period | 9904 | €7,978 | €10,876 | +€2,899 | +36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,978 | €10,876 | +€2,899 | +36.3% |
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 28 September 2026 via checked.be.