Appreciamo: what changed
Two financial 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
Appreciamo
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€63,422
2024 · €65,602-€2,180
Equity
€349,220
2024 · €285,799+€63,422
Cash
€260,337
2024 · €227,427+€32,910
Balance sheet total
€649,578
2024 · €617,854+€31,724
Largest movements
Assets
- Cash +€32,910
up €32,910 (+14.5%), from €227,427 to €260,337
mainly Net result for the year (+€63,422) and Depreciation (+€28,697)
Equity and liabilities
- Reserves +€63,422
up €63,422 (+22.5%), from €282,299 to €345,720
- Debts after one year -€29,150
down €29,150 (-12.4%), from €235,629 to €206,479
Income statement
- Depreciation +€11,149
up €11,149 (+63.5%), from €17,547 to €28,697
- Financial charges -€8,580
down €8,580 (-7.6%), from €113,471 to €104,891
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
€65,602
Gross operating margin
+€543
Depreciation
-€11,149
Other operating charges
-€757
Financial income
-€42
Financial charges
+€8,580
Taxes
+€646
Result 2025
€63,422
raises the resultlowers the result
Derived cash bridge
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
+€94,258
Investment
-€31,582
Financing
-€29,766
Cash 2024
€227,427
From operations (derived)
+€94,258
Net result for the year
+€63,422
Depreciation
+€28,697
Receivables within one year
+€5,065
Deferred charges and accrued income
-€993
Trade debts
-€4,922
Tax, wage and social debts
+€3,790
Other debts
-€800
Investment (derived)
-€31,582
Investment in fixed assets (net)
-€31,582
Financing
-€29,766
Debts after one year
-€29,150
Short-term financial debts
-€616
Cash 2025
€260,337
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €617,854 | €649,578 | +€31,724 | +5.1% |
| Fixed assets | 21/28 | €324,849 | €327,734 | +€2,885 | +0.9% |
| Tangible fixed assets | 22/27 | €324,849 | €327,734 | +€2,885 | +0.9% |
| Land and buildings | 22 | €308,557 | €294,881 | -€13,676 | -4.4% |
| Furniture and vehicles | 24 | €13,325 | €30,543 | +€17,218 | +129% |
| Other tangible fixed assets | 26 | €2,967 | €2,311 | -€657 | -22.1% |
| Current assets | 29/58 | €293,005 | €321,844 | +€28,839 | +9.8% |
| Amounts receivable within one year | 40/41 | €61,044 | €55,979 | -€5,065 | -8.3% |
| Trade receivables | 40 | €41,666 | €38,632 | -€3,033 | -7.3% |
| Other amounts receivable | 41 | €19,378 | €17,347 | -€2,031 | -10.5% |
| Cash at bank and in hand | 54/58 | €227,427 | €260,337 | +€32,910 | +14.5% |
| Deferred charges and accrued income | 490/1 | €4,534 | €5,527 | +€993 | +21.9% |
| Total equity and liabilities | 10/49 | €617,854 | €649,578 | +€31,724 | +5.1% |
| Equity | 10/15 | €285,799 | €349,220 | +€63,422 | +22.2% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €282,299 | €345,720 | +€63,422 | +22.5% |
| Distributable reserves | 133 | €282,299 | €345,720 | +€63,422 | +22.5% |
| Amounts payable | 17/49 | €332,056 | €300,358 | -€31,698 | -9.5% |
| Amounts payable after more than one year | 17 | €235,629 | €206,479 | -€29,150 | -12.4% |
| Financial debts | 170/4 | €235,629 | €206,479 | -€29,150 | -12.4% |
| Amounts payable within one year | 42/48 | €96,427 | €93,879 | -€2,548 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €29,150 | €29,150 | = | 0.0% |
| Financial debts | 43 | €616 | - | -€616 | |
| Credit institutions | 430/8 | €616 | - | -€616 | |
| Trade debts | 44 | €22,735 | €17,813 | -€4,922 | -21.6% |
| Suppliers | 440/4 | €22,735 | €17,813 | -€4,922 | -21.6% |
| Taxes, remuneration and social security | 45 | €43,125 | €46,915 | +€3,790 | +8.8% |
| Taxes | 450/3 | €38,575 | €46,915 | +€8,340 | +21.6% |
| Remuneration and social security | 454/9 | €4,550 | - | -€4,550 | |
| Other amounts payable | 47/48 | €800 | - | -€800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,547 | €28,697 | +€11,149 | +63.5% |
| Other operating charges | 640/8 | €7,824 | €8,581 | +€757 | +9.7% |
| Gross operating margin | 9900 | €232,175 | €232,719 | +€543 | +0.2% |
| Operating profit (loss) | 9901 | €206,804 | €195,440 | -€11,363 | -5.5% |
| Financial income | 75/76B | €185 | €143 | -€42 | -22.9% |
| Recurring financial income | 75 | €185 | €143 | -€42 | -22.9% |
| Financial charges | 65/66B | €113,471 | €104,891 | -€8,580 | -7.6% |
| Recurring financial charges | 65 | €113,471 | €104,891 | -€8,580 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €93,518 | €90,692 | -€2,826 | -3.0% |
| Income taxes | 67/77 | €27,916 | €27,271 | -€646 | -2.3% |
| Profit (loss) for the period | 9904 | €65,602 | €63,422 | -€2,180 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €65,602 | €63,422 | -€2,180 | -3.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.