APRHODIS: 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.
APRHODIS
Largest movements
- Stocks and contracts +€15,665
up €15,665 (+4.1%), from €386,644 to €402,310
- Tangible fixed assets -€9,235
down €9,235 (-15.5%), from €59,765 to €50,530
of which Other tangible fixed assets: -€8,862
- Cash -€7,041
down €7,041 (-46.5%), from €15,159 to €8,117
mainly Other debts (-€91,288) and Stocks and contracts (-€15,665)
- Other debts -€91,288
down €91,288 (-33.0%), from €276,913 to €185,625
- Debts after one year +€56,529
up €56,529 (+172%), from €32,934 to €89,464
- Current portion of long-term debt +€17,186
up €17,186 (+147%), from €11,680 to €28,867
- Reserves +€13,424
up €13,424 (+26.9%), from €49,825 to €63,249
- Gross operating margin -€73,924
down €73,924 (-60.1%), from €123,100 to €49,176
- Taxes -€18,800
down €18,800 (-74.3%), from €25,313 to €6,513
- Staff costs -€1,794
down €1,794 (-17.4%), from €10,287 to €8,494
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 | €466,420 | €461,320 | -€5,100 | -1.1% |
| Fixed assets | 21/28 | €59,765 | €50,530 | -€9,235 | -15.5% |
| Tangible fixed assets | 22/27 | €59,765 | €50,530 | -€9,235 | -15.5% |
| Furniture and vehicles | 24 | €989 | €616 | -€373 | -37.7% |
| Other tangible fixed assets | 26 | €58,776 | €49,914 | -€8,862 | -15.1% |
| Current assets | 29/58 | €406,655 | €410,790 | +€4,135 | +1.0% |
| Stocks and contracts in progress | 3 | €386,644 | €402,310 | +€15,665 | +4.1% |
| Stocks | 30/36 | €386,644 | €402,310 | +€15,665 | +4.1% |
| Cash at bank and in hand | 54/58 | €15,159 | €8,117 | -€7,041 | -46.5% |
| Deferred charges and accrued income | 490/1 | €4,852 | €363 | -€4,489 | -92.5% |
| Total equity and liabilities | 10/49 | €466,420 | €461,320 | -€5,100 | -1.1% |
| Equity | 10/15 | €99,825 | €113,249 | +€13,424 | +13.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €49,825 | €63,249 | +€13,424 | +26.9% |
| Distributable reserves | 133 | €49,825 | €63,249 | +€13,424 | +26.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €366,595 | €348,071 | -€18,524 | -5.1% |
| Amounts payable after more than one year | 17 | €32,934 | €89,464 | +€56,529 | +172% |
| Financial debts | 170/4 | €32,934 | €89,464 | +€56,529 | +172% |
| Amounts payable within one year | 42/48 | €333,660 | €258,607 | -€75,053 | -22.5% |
| Current portion of amounts payable after more than one year | 42 | €11,680 | €28,867 | +€17,186 | +147% |
| Trade debts | 44 | €6,534 | €8,311 | +€1,777 | +27.2% |
| Suppliers | 440/4 | €6,534 | €8,311 | +€1,777 | +27.2% |
| Taxes, remuneration and social security | 45 | €38,532 | €35,804 | -€2,728 | -7.1% |
| Taxes | 450/3 | €35,660 | €35,804 | +€144 | +0.4% |
| Remuneration and social security | 454/9 | €2,872 | €0 | -€2,872 | -100% |
| Other amounts payable | 47/48 | €276,913 | €185,625 | -€91,288 | -33.0% |
| Remuneration, social security and pensions | 62 | €10,287 | €8,494 | -€1,794 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,209 | €9,235 | +€26 | +0.3% |
| Other operating charges | 640/8 | €8,784 | €9,030 | +€246 | +2.8% |
| Gross operating margin | 9900 | €123,100 | €49,176 | -€73,924 | -60.1% |
| Operating profit (loss) | 9901 | €94,821 | €22,418 | -€72,402 | -76.4% |
| Financial income | 75/76B | €0 | €281 | +€280 | +112,168% |
| Recurring financial income | 75 | €0 | €281 | +€280 | +112,168% |
| Financial charges | 65/66B | €1,710 | €2,762 | +€1,052 | +61.6% |
| Recurring financial charges | 65 | €1,710 | €2,762 | +€1,052 | +61.6% |
| Profit (loss) for the period before taxes | 9903 | €93,111 | €19,937 | -€73,174 | -78.6% |
| Income taxes | 67/77 | €25,313 | €6,513 | -€18,800 | -74.3% |
| Profit (loss) for the period | 9904 | €67,798 | €13,424 | -€54,375 | -80.2% |
| Profit (loss) for the period to be appropriated | 9905 | €67,798 | €13,424 | -€54,375 | -80.2% |
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 30 October 2026 via checked.be.