APR Management: 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.
APR Management
Largest movements
- Receivables within one year +€26,539
up €26,539 (+211%), from €12,578 to €39,116
of which Trade receivables: +€26,598
- Deferred charges and accrued income -€17,955
down €17,955 (-88.2%), from €20,346 to €2,391
- Cash +€12,573
up €12,573 (+65.4%), from €19,224 to €31,797
mainly Net result for the year (+€24,123) and Deferred charges and accrued income (+€17,955)
- Tangible fixed assets +€5,526
up €5,526 (+79.3%), from €6,971 to €12,498
of which Furniture and vehicles: +€5,096
- Profit (loss) carried forward +€24,123
up €24,123 (+56.7%), from €42,546 to €66,670
- Tax, wage and social debts +€1,891
up €1,891 (+58.5%), from €3,230 to €5,121
- Gross operating margin -€1,718
down €1,718 (-4.1%), from €41,726 to €40,008
- Depreciation +€747
up €747 (+27.9%), from €2,676 to €3,422
- Taxes +€536
up €536 (+5.2%), from €10,233 to €10,769
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,119 | €85,802 | +€26,683 | +45.1% |
| Fixed assets | 21/28 | €6,971 | €12,498 | +€5,526 | +79.3% |
| Tangible fixed assets | 22/27 | €6,971 | €12,498 | +€5,526 | +79.3% |
| Furniture and vehicles | 24 | €0 | €5,096 | +€5,096 | |
| Other tangible fixed assets | 26 | €6,971 | €7,401 | +€430 | +6.2% |
| Current assets | 29/58 | €52,148 | €73,305 | +€21,157 | +40.6% |
| Amounts receivable within one year | 40/41 | €12,578 | €39,116 | +€26,539 | +211% |
| Trade receivables | 40 | €12,461 | €39,060 | +€26,598 | +213% |
| Other amounts receivable | 41 | €116 | €57 | -€59 | -51.0% |
| Cash at bank and in hand | 54/58 | €19,224 | €31,797 | +€12,573 | +65.4% |
| Deferred charges and accrued income | 490/1 | €20,346 | €2,391 | -€17,955 | -88.2% |
| Total equity and liabilities | 10/49 | €59,119 | €85,802 | +€26,683 | +45.1% |
| Equity | 10/15 | €47,546 | €71,670 | +€24,123 | +50.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,546 | €66,670 | +€24,123 | +56.7% |
| Amounts payable | 17/49 | €11,573 | €14,132 | +€2,560 | +22.1% |
| Amounts payable within one year | 42/48 | €11,573 | €14,132 | +€2,560 | +22.1% |
| Trade debts | 44 | €1,460 | €1,672 | +€212 | +14.5% |
| Suppliers | 440/4 | €1,460 | €1,672 | +€212 | +14.5% |
| Taxes, remuneration and social security | 45 | €3,230 | €5,121 | +€1,891 | +58.5% |
| Taxes | 450/3 | €3,230 | €5,121 | +€1,891 | +58.5% |
| Other amounts payable | 47/48 | €6,883 | €7,339 | +€457 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,676 | €3,422 | +€747 | +27.9% |
| Other operating charges | 640/8 | €1,094 | €1,124 | +€30 | +2.8% |
| Gross operating margin | 9900 | €41,726 | €40,008 | -€1,718 | -4.1% |
| Operating profit (loss) | 9901 | €37,957 | €35,461 | -€2,495 | -6.6% |
| Financial income | 75/76B | €53 | €153 | +€100 | +186% |
| Recurring financial income | 75 | €53 | €153 | +€100 | +186% |
| Financial charges | 65/66B | €932 | €722 | -€209 | -22.5% |
| Recurring financial charges | 65 | €932 | €722 | -€209 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €37,078 | €34,892 | -€2,186 | -5.9% |
| Income taxes | 67/77 | €10,233 | €10,769 | +€536 | +5.2% |
| Profit (loss) for the period | 9904 | €26,845 | €24,123 | -€2,722 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,845 | €24,123 | -€2,722 | -10.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.