APSIDE BELGIUM: 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.
APSIDE BELGIUM
Largest movements
- Cash -€271,212
down €271,212 (-20.6%), from €1.3m to €1.0m
mainly Trade debts (-€318,435) and Debts after one year (-€149,936)
- Receivables within one year -€84,216
down €84,216 (-6.9%), from €1.2m to €1.1m
of which Trade receivables: -€98,637
- Trade debts -€318,435
down €318,435 (-41.1%), from €773,939 to €455,504
- Debts after one year -€149,936
down €149,936 (-100%), from €149,936 to €0
- Tax, wage and social debts +€55,277
up €55,277 (+35.0%), from €157,976 to €213,253
of which Taxes: +€67,717
- Profit (loss) carried forward +€33,855
up €33,855 (+2.3%), from €1.5m to €1.5m
- Gross operating margin -€621,713
down €621,713 (-39.2%), from €1.6m to €963,575
- Staff costs -€599,007
down €599,007 (-41.5%), from €1.4m to €842,871
- Financial charges +€27,764
up €27,764 (+172%), from €16,180 to €43,943
- Financial income -€26,274
down €26,274 (-100.0%), from €26,274 to €0
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 | €2,579,038 | €2,199,798 | -€379,240 | -14.7% |
| Fixed assets | 21/28 | €2,239 | €2,007 | -€231 | -10.3% |
| Tangible fixed assets | 22/27 | €318 | €87 | -€231 | -72.8% |
| Furniture and vehicles | 24 | €318 | €87 | -€231 | -72.8% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €1,921 | €1,921 | = | 0.0% |
| Current assets | 29/58 | €2,576,799 | €2,197,791 | -€379,009 | -14.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,223,773 | €1,139,556 | -€84,216 | -6.9% |
| Trade receivables | 40 | €1,152,352 | €1,053,715 | -€98,637 | -8.6% |
| Other amounts receivable | 41 | €71,420 | €85,841 | +€14,421 | +20.2% |
| Cash at bank and in hand | 54/58 | €1,316,232 | €1,045,021 | -€271,212 | -20.6% |
| Deferred charges and accrued income | 490/1 | €36,794 | €13,214 | -€23,580 | -64.1% |
| Total equity and liabilities | 10/49 | €2,579,038 | €2,199,798 | -€379,240 | -14.7% |
| Equity | 10/15 | €1,497,186 | €1,531,042 | +€33,855 | +2.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €20,750 | €20,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,456,436 | €1,490,292 | +€33,855 | +2.3% |
| Amounts payable | 17/49 | €1,081,851 | €668,756 | -€413,095 | -38.2% |
| Amounts payable after more than one year | 17 | €149,936 | €0 | -€149,936 | -100% |
| Other amounts payable | 178/9 | €149,936 | €0 | -€149,936 | -100% |
| Amounts payable within one year | 42/48 | €931,915 | €668,756 | -€263,159 | -28.2% |
| Trade debts | 44 | €773,939 | €455,504 | -€318,435 | -41.1% |
| Suppliers | 440/4 | €773,939 | €455,504 | -€318,435 | -41.1% |
| Taxes, remuneration and social security | 45 | €157,976 | €213,253 | +€55,277 | +35.0% |
| Taxes | 450/3 | €14,712 | €82,429 | +€67,717 | +460% |
| Remuneration and social security | 454/9 | €143,264 | €130,823 | -€12,441 | -8.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €12,389 | €0 | -€12,389 | -100% |
| Remuneration, social security and pensions | 62 | €1,441,878 | €842,871 | -€599,007 | -41.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,300 | €231 | -€1,068 | -82.2% |
| Other operating charges | 640/8 | €13,823 | €6,849 | -€6,974 | -50.5% |
| Non-recurring operating charges | 66A | €1,433 | €0 | -€1,433 | -100% |
| Gross operating margin | 9900 | €1,585,288 | €963,575 | -€621,713 | -39.2% |
| Operating profit (loss) | 9901 | €126,854 | €113,624 | -€13,230 | -10.4% |
| Financial income | 75/76B | €26,274 | €0 | -€26,274 | -100.0% |
| Recurring financial income | 75 | €26,274 | €0 | -€26,274 | -100.0% |
| Financial charges | 65/66B | €16,180 | €43,943 | +€27,764 | +172% |
| Recurring financial charges | 65 | €16,180 | €43,943 | +€27,764 | +172% |
| Profit (loss) for the period before taxes | 9903 | €136,948 | €69,681 | -€67,268 | -49.1% |
| Income taxes | 67/77 | €49,756 | €35,826 | -€13,931 | -28.0% |
| Profit (loss) for the period | 9904 | €87,192 | €33,855 | -€53,337 | -61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €87,192 | €33,855 | -€53,337 | -61.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.