APPOLINE: 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.
APPOLINE
Largest movements
- Cash +€28,264
up €28,264 (+15.3%), from €185,202 to €213,465
mainly Net result for the year (+€78,866) and Depreciation (+€25,969)
- Receivables after one year +€19,270
new in 2025: €19,270
- Tangible fixed assets -€10,933
down €10,933 (-3.5%), from €311,916 to €300,983
of which Land and buildings: -€11,278
- Reserves +€78,866
up €78,866 (+26.1%), from €302,687 to €381,553
of which Distributable reserves: +€78,866
- Debts after one year -€40,943
down €40,943 (-37.1%), from €110,385 to €69,442
- Tax, wage and social debts +€6,587
up €6,587 (+48.2%), from €13,678 to €20,265
of which Taxes: +€6,554
- Taxes +€3,775
up €3,775 (+12.5%), from €30,200 to €33,975
- Depreciation +€1,666
up €1,666 (+6.9%), from €24,304 to €25,969
- Financial charges -€1,517
down €1,517 (-15.6%), from €9,712 to €8,195
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 | €515,060 | €556,799 | +€41,739 | +8.1% |
| Fixed assets | 21/28 | €311,916 | €300,983 | -€10,933 | -3.5% |
| Tangible fixed assets | 22/27 | €311,916 | €300,983 | -€10,933 | -3.5% |
| Land and buildings | 22 | €193,376 | €182,098 | -€11,278 | -5.8% |
| Plant, machinery and equipment | 23 | €2,758 | €6,043 | +€3,285 | +119.1% |
| Furniture and vehicles | 24 | €14,300 | €18,353 | +€4,053 | +28.3% |
| Other tangible fixed assets | 26 | €101,481 | €94,490 | -€6,991 | -6.9% |
| Current assets | 29/58 | €203,144 | €255,816 | +€52,672 | +25.9% |
| Amounts receivable after more than one year | 29 | - | €19,270 | +€19,270 | |
| Other amounts receivable | 291 | - | €19,270 | +€19,270 | |
| Amounts receivable within one year | 40/41 | €12,188 | €16,145 | +€3,957 | +32.5% |
| Other amounts receivable | 41 | €12,188 | €16,145 | +€3,957 | +32.5% |
| Cash at bank and in hand | 54/58 | €185,202 | €213,465 | +€28,264 | +15.3% |
| Deferred charges and accrued income | 490/1 | €5,754 | €6,935 | +€1,181 | +20.5% |
| Total equity and liabilities | 10/49 | €515,060 | €556,799 | +€41,739 | +8.1% |
| Equity | 10/15 | €332,237 | €411,103 | +€78,866 | +23.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €302,687 | €381,553 | +€78,866 | +26.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,200 | €18,200 | = | 0.0% |
| Distributable reserves | 133 | €282,627 | €361,493 | +€78,866 | +27.9% |
| Profit (loss) carried forward | 14 | €23,350 | €23,350 | = | 0.0% |
| Amounts payable | 17/49 | €182,823 | €145,696 | -€37,127 | -20.3% |
| Amounts payable after more than one year | 17 | €110,385 | €69,442 | -€40,943 | -37.1% |
| Financial debts | 170/4 | €110,385 | €69,442 | -€40,943 | -37.1% |
| Amounts payable within one year | 42/48 | €70,797 | €74,435 | +€3,638 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €38,825 | €40,943 | +€2,118 | +5.5% |
| Trade debts | 44 | €7,758 | €7,456 | -€302 | -3.9% |
| Suppliers | 440/4 | €7,758 | €7,456 | -€302 | -3.9% |
| Taxes, remuneration and social security | 45 | €13,678 | €20,265 | +€6,587 | +48.2% |
| Taxes | 450/3 | €8,333 | €14,888 | +€6,554 | +78.7% |
| Remuneration and social security | 454/9 | €5,345 | €5,378 | +€33 | +0.6% |
| Other amounts payable | 47/48 | €10,536 | €5,770 | -€4,766 | -45.2% |
| Accrued charges and deferred income | 492/3 | €1,641 | €1,819 | +€178 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,304 | €25,969 | +€1,666 | +6.9% |
| Other operating charges | 640/8 | €4,979 | €4,377 | -€602 | -12.1% |
| Non-recurring operating charges | 66A | €8,485 | €0 | -€8,485 | -100.0% |
| Gross operating margin | 9900 | €150,800 | €150,743 | -€58 | 0.0% |
| Operating profit (loss) | 9901 | €113,032 | €120,397 | +€7,365 | +6.5% |
| Financial income | 75/76B | €761 | €639 | -€122 | -16.0% |
| Recurring financial income | 75 | €761 | €639 | -€122 | -16.0% |
| Financial charges | 65/66B | €9,712 | €8,195 | -€1,517 | -15.6% |
| Recurring financial charges | 65 | €9,712 | €8,195 | -€1,517 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €104,081 | €112,842 | +€8,760 | +8.4% |
| Income taxes | 67/77 | €30,200 | €33,975 | +€3,775 | +12.5% |
| Profit (loss) for the period | 9904 | €73,881 | €78,866 | +€4,985 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €73,881 | €78,866 | +€4,985 | +6.7% |
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 29 September 2026 via checked.be.