APSYMO: what changed
APSYMO
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Receivables within one year +€11,810
up €11,810 (+164%), from €7,189 to €18,999
of which Trade receivables: +€14,722
- Tangible fixed assets -€11,409
down €11,409 (-11.6%), from €98,035 to €86,625
- Cash -€4,899
down €4,899 (-6.1%), from €80,136 to €75,237
mainly Current investments (-€50,000) and Receivables within one year (-€11,810)
- Other debts +€60,629
up €60,629 (+181%), from €33,544 to €94,172
- Reserves -€5,500
down €5,500 (-4.6%), from €119,549 to €114,049
- Tax, wage and social debts -€4,442
down €4,442 (-74.1%), from €5,998 to €1,556
- Profit (loss) carried forward -€4,028
down €4,028 (-96.0%), from €4,196 to €168
- Financial charges +€27,251
up €27,251 (+53.2%), from €51,253 to €78,505
- Gross operating margin +€12,414
up €12,414 (+17.5%), from €70,989 to €83,404
- Taxes -€1,690
down €1,690 (-100%), from €1,690 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €185,364 | €232,127 | +€46,763 | +25.2% |
| Fixed assets | 21/28 | €98,035 | €86,625 | -€11,409 | -11.6% |
| Tangible fixed assets | 22/27 | €98,035 | €86,625 | -€11,409 | -11.6% |
| Land and buildings | 22 | €98,035 | €86,625 | -€11,409 | -11.6% |
| Current assets | 29/58 | €87,329 | €145,502 | +€58,172 | +66.6% |
| Amounts receivable within one year | 40/41 | €7,189 | €18,999 | +€11,810 | +164% |
| Trade receivables | 40 | €0 | €14,722 | +€14,722 | |
| Other amounts receivable | 41 | €7,189 | €4,277 | -€2,912 | -40.5% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €80,136 | €75,237 | -€4,899 | -6.1% |
| Deferred charges and accrued income | 490/1 | €4 | €1,265 | +€1,261 | +30,170% |
| Total equity and liabilities | 10/49 | €185,364 | €232,127 | +€46,763 | +25.2% |
| Equity | 10/15 | €143,746 | €134,217 | -€9,528 | -6.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €119,549 | €114,049 | -€5,500 | -4.6% |
| Distributable reserves | 133 | €119,549 | €114,049 | -€5,500 | -4.6% |
| Profit (loss) carried forward | 14 | €4,196 | €168 | -€4,028 | -96.0% |
| Amounts payable | 17/49 | €41,618 | €97,910 | +€56,291 | +135% |
| Amounts payable within one year | 42/48 | €41,550 | €97,328 | +€55,778 | +134% |
| Trade debts | 44 | €2,007 | €1,599 | -€409 | -20.4% |
| Suppliers | 440/4 | €2,007 | €1,599 | -€409 | -20.4% |
| Taxes, remuneration and social security | 45 | €5,998 | €1,556 | -€4,442 | -74.1% |
| Taxes | 450/3 | €5,998 | €1,556 | -€4,442 | -74.1% |
| Other amounts payable | 47/48 | €33,544 | €94,172 | +€60,629 | +181% |
| Accrued charges and deferred income | 492/3 | €69 | €582 | +€513 | +748% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,379 | €11,409 | +€30 | +0.3% |
| Other operating charges | 640/8 | €3,905 | €4,001 | +€96 | +2.5% |
| Gross operating margin | 9900 | €70,989 | €83,404 | +€12,414 | +17.5% |
| Operating profit (loss) | 9901 | €55,705 | €67,993 | +€12,288 | +22.1% |
| Financial income | 75/76B | €788 | €983 | +€196 | +24.8% |
| Recurring financial income | 75 | €788 | €983 | +€196 | +24.8% |
| Financial charges | 65/66B | €51,253 | €78,505 | +€27,251 | +53.2% |
| Recurring financial charges | 65 | €51,253 | €78,505 | +€27,251 | +53.2% |
| Profit (loss) for the period before taxes | 9903 | €5,240 | -€9,528 | -€14,768 | |
| Income taxes | 67/77 | €1,690 | €0 | -€1,690 | -100% |
| Profit (loss) for the period | 9904 | €3,549 | -€9,528 | -€13,078 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,549 | -€9,528 | -€13,078 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.