APPOM: 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.
APPOM
Largest movements
- Cash +€23,018
up €23,018 (+553.0%), from €4,162 to €27,180
mainly Net result for the year (+€51,927) and Depreciation (+€37,282)
- Receivables within one year +€5,849
up €5,849 (+28.5%), from €20,503 to €26,352
of which Trade receivables: +€7,273
- Tangible fixed assets -€3,115
down €3,115 (-2.7%), from €116,060 to €112,945
of which Land and buildings: -€5,578
- Reserves +€51,927
up €51,927 (+180.0%), from €28,854 to €80,781
- Tax, wage and social debts +€20,372
up €20,372 (+617.4%), from €3,300 to €23,672
of which Taxes: +€10,993
- Other debts -€15,043
down €15,043 (-52.3%), from €28,740 to €13,697
- Trade debts -€11,929
down €11,929 (-76.3%), from €15,630 to €3,701
- Current portion of long-term debt -€11,601
down €11,601 (-63.1%), from €18,400 to €6,799
- Gross operating margin +€23,361
up €23,361 (+26.4%), from €88,627 to €111,988
- Depreciation -€7,118
down €7,118 (-16.0%), from €44,400 to €37,282
- Taxes +€6,613
up €6,613 (+46.8%), from €14,142 to €20,754
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 | €146,773 | €172,866 | +€26,093 | +17.8% |
| Fixed assets | 21/28 | €116,060 | €112,945 | -€3,115 | -2.7% |
| Tangible fixed assets | 22/27 | €116,060 | €112,945 | -€3,115 | -2.7% |
| Land and buildings | 22 | €34,116 | €28,537 | -€5,578 | -16.4% |
| Plant, machinery and equipment | 23 | €68,342 | €62,898 | -€5,444 | -8.0% |
| Furniture and vehicles | 24 | €10,882 | €19,515 | +€8,633 | +79.3% |
| Leasing and similar rights | 25 | €220 | €0 | -€220 | -100.0% |
| Other tangible fixed assets | 26 | €2,501 | €1,995 | -€506 | -20.2% |
| Current assets | 29/58 | €30,713 | €59,921 | +€29,208 | +95.1% |
| Amounts receivable within one year | 40/41 | €20,503 | €26,352 | +€5,849 | +28.5% |
| Trade receivables | 40 | €11,790 | €19,063 | +€7,273 | +61.7% |
| Other amounts receivable | 41 | €8,713 | €7,289 | -€1,423 | -16.3% |
| Cash at bank and in hand | 54/58 | €4,162 | €27,180 | +€23,018 | +553.0% |
| Deferred charges and accrued income | 490/1 | €6,048 | €6,389 | +€341 | +5.6% |
| Total equity and liabilities | 10/49 | €146,773 | €172,866 | +€26,093 | +17.8% |
| Equity | 10/15 | €73,904 | €124,997 | +€51,094 | +69.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €28,854 | €80,781 | +€51,927 | +180.0% |
| Distributable reserves | 133 | €28,854 | €80,781 | +€51,927 | +180.0% |
| Profit (loss) carried forward | 14 | €26,500 | €25,667 | -€833 | -3.1% |
| Amounts payable | 17/49 | €72,869 | €47,868 | -€25,001 | -34.3% |
| Amounts payable after more than one year | 17 | €6,799 | €0 | -€6,799 | -100.0% |
| Financial debts | 170/4 | €6,799 | €0 | -€6,799 | -100.0% |
| Amounts payable within one year | 42/48 | €66,070 | €47,868 | -€18,202 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €18,400 | €6,799 | -€11,601 | -63.1% |
| Trade debts | 44 | €15,630 | €3,701 | -€11,929 | -76.3% |
| Suppliers | 440/4 | €15,630 | €3,701 | -€11,929 | -76.3% |
| Taxes, remuneration and social security | 45 | €3,300 | €23,672 | +€20,372 | +617.4% |
| Taxes | 450/3 | €3,300 | €14,293 | +€10,993 | +333.1% |
| Remuneration and social security | 454/9 | €0 | €9,379 | +€9,379 | |
| Other amounts payable | 47/48 | €28,740 | €13,697 | -€15,043 | -52.3% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,400 | €37,282 | -€7,118 | -16.0% |
| Other operating charges | 640/8 | €1,673 | €1,734 | +€61 | +3.6% |
| Gross operating margin | 9900 | €88,627 | €111,988 | +€23,361 | +26.4% |
| Operating profit (loss) | 9901 | €42,554 | €72,972 | +€30,417 | +71.5% |
| Financial income | 75/76B | €96 | €0 | -€96 | -100.0% |
| Recurring financial income | 75 | €96 | €0 | -€96 | -100.0% |
| Financial charges | 65/66B | €651 | €291 | -€360 | -55.3% |
| Recurring financial charges | 65 | €651 | €291 | -€360 | -55.3% |
| Profit (loss) for the period before taxes | 9903 | €42,000 | €72,681 | +€30,681 | +73.1% |
| Income taxes | 67/77 | €14,142 | €20,754 | +€6,613 | +46.8% |
| Profit (loss) for the period | 9904 | €27,858 | €51,927 | +€24,068 | +86.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,858 | €51,927 | +€24,068 | +86.4% |
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 7 October 2026 via checked.be.