APR WORKS: 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 WORKS
Largest movements
- Receivables within one year +€14,466
up €14,466 (+519%), from €2,786 to €17,252
- Cash +€11,029
up €11,029 (+40.9%), from €26,970 to €37,999
mainly Net result for the year (+€15,075) and Depreciation (+€6,144)
- Tangible fixed assets -€5,907
down €5,907 (-74.5%), from €7,930 to €2,024
- Deferred charges and accrued income -€2,877
no longer reported in 2025 (was €2,877)
- Profit (loss) carried forward +€15,075
up €15,075 (+3.1%), from -€484,800 to -€469,725
- Trade debts +€1,868
new in 2025: €1,868
- Gross operating margin +€14,995
up €14,995 (+196%), from €7,642 to €22,637
- Depreciation -€6,622
down €6,622 (-51.9%), from €12,767 to €6,144
- Staff costs +€418
new in 2025: €418
- Other operating charges +€349
up €349 (+77.6%), from €450 to €799
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 | €86,619 | €103,092 | +€16,474 | +19.0% |
| Fixed assets | 21/28 | €8,168 | €2,024 | -€6,144 | -75.2% |
| Intangible fixed assets | 21 | €238 | - | -€238 | |
| Tangible fixed assets | 22/27 | €7,930 | €2,024 | -€5,907 | -74.5% |
| Land and buildings | 22 | €2,819 | - | -€2,819 | |
| Plant, machinery and equipment | 23 | €1,952 | €857 | -€1,094 | -56.1% |
| Furniture and vehicles | 24 | €3,159 | €1,166 | -€1,993 | -63.1% |
| Current assets | 29/58 | €78,451 | €101,069 | +€22,618 | +28.8% |
| Amounts receivable after more than one year | 29 | €45,694 | €45,694 | = | 0.0% |
| Other amounts receivable | 291 | €45,694 | €45,694 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,786 | €17,252 | +€14,466 | +519% |
| Trade receivables | 40 | €2,786 | €17,252 | +€14,466 | +519% |
| Current investments | 50/53 | €124 | €124 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €26,970 | €37,999 | +€11,029 | +40.9% |
| Deferred charges and accrued income | 490/1 | €2,877 | - | -€2,877 | |
| Total equity and liabilities | 10/49 | €86,619 | €103,092 | +€16,474 | +19.0% |
| Equity | 10/15 | €74,950 | €90,025 | +€15,075 | +20.1% |
| Contributions | 10/11 | €56,000 | €56,000 | = | 0.0% |
| Reserves | 13 | €503,750 | €503,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €437,500 | €437,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€484,800 | -€469,725 | +€15,075 | +3.1% |
| Amounts payable | 17/49 | €11,669 | €13,068 | +€1,399 | +12.0% |
| Amounts payable within one year | 42/48 | €11,669 | €13,068 | +€1,399 | +12.0% |
| Trade debts | 44 | - | €1,868 | +€1,868 | |
| Suppliers | 440/4 | - | €1,868 | +€1,868 | |
| Taxes, remuneration and social security | 45 | €1,296 | €1,741 | +€445 | +34.3% |
| Taxes | 450/3 | €1,296 | €1,741 | +€445 | +34.3% |
| Other amounts payable | 47/48 | €10,373 | €9,459 | -€914 | -8.8% |
| Remuneration, social security and pensions | 62 | - | €418 | +€418 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,767 | €6,144 | -€6,622 | -51.9% |
| Other operating charges | 640/8 | €450 | €799 | +€349 | +77.6% |
| Gross operating margin | 9900 | €7,642 | €22,637 | +€14,995 | +196% |
| Operating profit (loss) | 9901 | -€5,574 | €15,277 | +€20,851 | |
| Financial income | 75/76B | €1 | €15 | +€14 | +1,423% |
| Recurring financial income | 75 | €1 | €15 | +€14 | +1,423% |
| Non-recurring financial income | 76B | - | €15 | +€15 | |
| Financial charges | 65/66B | €172 | €217 | +€45 | +26.1% |
| Recurring financial charges | 65 | €172 | €217 | +€45 | +26.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,745 | €15,075 | +€20,820 | |
| Profit (loss) for the period | 9904 | -€5,745 | €15,075 | +€20,820 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,745 | €15,075 | +€20,820 |
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 20 October 2026 via checked.be.