APROFIM: 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.
APROFIM
Largest movements
- Tangible fixed assets -€499,719
down €499,719 (-41.7%), from €1.2m to €699,547
of which Land and buildings: -€535,630
- Receivables within one year +€107,059
up €107,059 (+730.8%), from €14,650 to €121,709
of which Trade receivables: +€111,240
- Cash +€45,521
up €45,521 (+547.8%), from €8,310 to €53,831
mainly Investment in fixed assets (net) (+€463,803) and Net result for the year (+€211,555)
- Debts after one year -€444,590
down €444,590 (-48.3%), from €919,590 to €475,000
of which Financial debts: -€429,590
- Profit (loss) carried forward +€115,559
no longer reported in 2025 (was -€115,559)
- Reserves +€95,997
up €95,997 (+35.0%), from €273,975 to €369,972
of which Distributable reserves: +€62,895
- Current portion of long-term debt -€79,233
no longer reported in 2025 (was €79,233)
- Trade debts -€29,126
down €29,126 (-95.1%), from €30,634 to €1,507
- Gross operating margin +€213,416
up €213,416 (+311.4%), from €68,528 to €281,944
- Depreciation -€48,607
down €48,607 (-57.5%), from €84,523 to €35,916
- Financial charges -€8,591
down €8,591 (-42.9%), from €20,010 to €11,419
- Taxes +€6,289
up €6,289 (+3726.7%), from €169 to €6,458
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 | €1,237,863 | €891,544 | -€346,319 | -28.0% |
| Fixed assets | 21/28 | €1,214,266 | €714,547 | -€499,719 | -41.2% |
| Tangible fixed assets | 22/27 | €1,199,266 | €699,547 | -€499,719 | -41.7% |
| Land and buildings | 22 | €1,160,988 | €625,359 | -€535,630 | -46.1% |
| Plant, machinery and equipment | 23 | €15,997 | €11,734 | -€4,264 | -26.7% |
| Furniture and vehicles | 24 | €15,026 | €30,335 | +€15,309 | +101.9% |
| Other tangible fixed assets | 26 | €7,254 | €32,119 | +€24,865 | +342.8% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €23,597 | €176,997 | +€153,400 | +650.1% |
| Amounts receivable within one year | 40/41 | €14,650 | €121,709 | +€107,059 | +730.8% |
| Trade receivables | 40 | €9,720 | €120,960 | +€111,240 | +1144.5% |
| Other amounts receivable | 41 | €4,930 | €749 | -€4,181 | -84.8% |
| Cash at bank and in hand | 54/58 | €8,310 | €53,831 | +€45,521 | +547.8% |
| Deferred charges and accrued income | 490/1 | €637 | €1,456 | +€819 | +128.7% |
| Total equity and liabilities | 10/49 | €1,237,863 | €891,544 | -€346,319 | -28.0% |
| Equity | 10/15 | €176,966 | €388,522 | +€211,555 | +119.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €273,975 | €369,972 | +€95,997 | +35.0% |
| Tax-exempt reserves | 132 | - | €33,101 | +€33,101 | |
| Distributable reserves | 133 | €273,975 | €336,870 | +€62,895 | +23.0% |
| Profit (loss) carried forward | 14 | -€115,559 | - | +€115,559 | |
| Provisions and deferred taxes | 16 | - | €11,034 | +€11,034 | |
| Deferred taxes | 168 | - | €11,034 | +€11,034 | |
| Amounts payable | 17/49 | €1,060,897 | €491,988 | -€568,908 | -53.6% |
| Amounts payable after more than one year | 17 | €919,590 | €475,000 | -€444,590 | -48.3% |
| Financial debts | 170/4 | €429,590 | - | -€429,590 | |
| Other amounts payable | 178/9 | €490,000 | €475,000 | -€15,000 | -3.1% |
| Amounts payable within one year | 42/48 | €141,306 | €16,988 | -€124,318 | -88.0% |
| Current portion of amounts payable after more than one year | 42 | €79,233 | - | -€79,233 | |
| Financial debts | 43 | €19,156 | - | -€19,156 | |
| Credit institutions | 430/8 | €19,156 | - | -€19,156 | |
| Trade debts | 44 | €30,634 | €1,507 | -€29,126 | -95.1% |
| Suppliers | 440/4 | €30,634 | €1,507 | -€29,126 | -95.1% |
| Taxes, remuneration and social security | 45 | €8,229 | €8,972 | +€744 | +9.0% |
| Taxes | 450/3 | €8,229 | €8,972 | +€744 | +9.0% |
| Other amounts payable | 47/48 | €4,054 | €6,508 | +€2,454 | +60.5% |
| Non-recurring operating income | 76A | - | €197,185 | +€197,185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,523 | €35,916 | -€48,607 | -57.5% |
| Other operating charges | 640/8 | €6,430 | €5,586 | -€844 | -13.1% |
| Gross operating margin | 9900 | €68,528 | €281,944 | +€213,416 | +311.4% |
| Operating profit (loss) | 9901 | -€22,425 | €240,442 | +€262,867 | |
| Financial income | 75/76B | €72 | €24 | -€48 | -66.7% |
| Recurring financial income | 75 | €72 | €24 | -€48 | -66.7% |
| Financial charges | 65/66B | €20,010 | €11,419 | -€8,591 | -42.9% |
| Recurring financial charges | 65 | €20,010 | €11,419 | -€8,591 | -42.9% |
| Profit (loss) for the period before taxes | 9903 | -€42,362 | €229,047 | +€271,409 | |
| Transfer from deferred taxes | 780 | - | €663 | +€663 | |
| Transfer to deferred taxes | 680 | - | €11,697 | +€11,697 | |
| Income taxes | 67/77 | €169 | €6,458 | +€6,289 | +3726.7% |
| Profit (loss) for the period | 9904 | -€42,531 | €211,555 | +€254,086 | |
| Transfer from tax-exempt reserves | 789 | - | €1,990 | +€1,990 | |
| Transfer to tax-exempt reserves | 689 | - | €35,092 | +€35,092 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,531 | €178,454 | +€220,985 |
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.