APSIS: 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.
APSIS
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€4,760
up €4,760 (+3.2%), from €149,174 to €153,933
- Profit (loss) carried forward -€2,838
down €2,838 (-3.8%), from -€73,992 to -€76,830
- Write-downs -€11,276
no longer reported in 2025 (was €11,276)
- Depreciation -€2,496
no longer reported in 2025 (was €2,496)
- Gross operating margin +€2,001
up €2,001 (+47.2%), from -€4,236 to -€2,235
- Other operating charges -€71
down €71 (-2.8%), from €2,539 to €2,468
- Financial charges -€54
no longer reported in 2025 (was €54)
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 | €246,479 | €246,537 | +€57 | 0.0% |
| Fixed assets | 21/28 | €12,038 | €12,038 | = | 0.0% |
| Tangible fixed assets | 22/27 | €11,201 | €11,201 | = | 0.0% |
| Land and buildings | 22 | €11,201 | €11,201 | = | 0.0% |
| Financial fixed assets | 28 | €837 | €837 | = | 0.0% |
| Current assets | 29/58 | €234,442 | €234,499 | +€57 | 0.0% |
| Stocks and contracts in progress | 3 | €225,899 | €225,899 | = | 0.0% |
| Stocks | 30/36 | €225,899 | €225,899 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,500 | €8,500 | = | 0.0% |
| Other amounts receivable | 41 | €8,500 | €8,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €43 | - | -€43 | |
| Deferred charges and accrued income | 490/1 | - | €100 | +€100 | |
| Total equity and liabilities | 10/49 | €246,479 | €246,537 | +€57 | 0.0% |
| Equity | 10/15 | €85,686 | €81,617 | -€4,069 | -4.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €98,178 | €96,947 | -€1,231 | -1.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,028 | €23,797 | -€1,231 | -4.9% |
| Distributable reserves | 133 | €67,000 | €67,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,992 | -€76,830 | -€2,838 | -3.8% |
| Provisions and deferred taxes | 16 | €11,620 | €10,986 | -€634 | -5.5% |
| Deferred taxes | 168 | €11,620 | €10,986 | -€634 | -5.5% |
| Amounts payable | 17/49 | €149,174 | €153,933 | +€4,760 | +3.2% |
| Amounts payable within one year | 42/48 | €149,174 | €153,933 | +€4,760 | +3.2% |
| Other amounts payable | 47/48 | €149,174 | €153,933 | +€4,760 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,496 | - | -€2,496 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,276 | - | -€11,276 | |
| Other operating charges | 640/8 | €2,539 | €2,468 | -€71 | -2.8% |
| Gross operating margin | 9900 | -€4,236 | -€2,235 | +€2,001 | +47.2% |
| Operating profit (loss) | 9901 | -€20,547 | -€4,702 | +€15,845 | +77.1% |
| Financial charges | 65/66B | €54 | - | -€54 | |
| Recurring financial charges | 65 | €54 | - | -€54 | |
| Profit (loss) for the period before taxes | 9903 | -€20,601 | -€4,702 | +€15,899 | +77.2% |
| Transfer from deferred taxes | 780 | €1,865 | €1,865 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€18,736 | -€2,838 | +€15,899 | +84.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,736 | -€2,838 | +€15,899 | +84.9% |
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.