APT VENTURE: 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.
APT VENTURE
Largest movements
- Receivables after one year +€32,313
up €32,313 (+7.7%), from €417,657 to €449,970
- Receivables within one year -€30,134
down €30,134 (-31.5%), from €95,732 to €65,598
of which Trade receivables: -€48,366
- Cash -€9,696
down €9,696 (-19.4%), from €50,065 to €40,370
mainly Contributions, distributions and other (-€55,744) and Receivables after one year (-€32,313)
- Tangible fixed assets -€8,219
down €8,219 (-5.9%), from €139,617 to €131,399
of which Furniture and vehicles: -€21,640
- Tax, wage and social debts -€23,139
down €23,139 (-76.1%), from €30,422 to €7,282
- Short-term financial debts +€11,659
new in 2025: €11,659
- Accrued charges and deferred income -€11,317
down €11,317 (-100.0%), from €11,317 to €0
- Gross operating margin -€111,222
down €111,222 (-56.3%), from €197,608 to €86,386
- Taxes -€37,298
down €37,298 (-61.9%), from €60,243 to €22,945
- Depreciation +€13,944
up €13,944 (+94.2%), from €14,795 to €28,739
- Financial income +€3,037
up €3,037 (+9.1%), from €33,530 to €36,567
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 | €705,070 | €689,467 | -€15,603 | -2.2% |
| Fixed assets | 21/28 | €139,617 | €131,399 | -€8,219 | -5.9% |
| Tangible fixed assets | 22/27 | €139,617 | €131,399 | -€8,219 | -5.9% |
| Land and buildings | 22 | €7,867 | €7,200 | -€667 | -8.5% |
| Plant, machinery and equipment | 23 | €220 | €16 | -€204 | -92.9% |
| Furniture and vehicles | 24 | €106,543 | €84,903 | -€21,640 | -20.3% |
| Other tangible fixed assets | 26 | €24,988 | €39,280 | +€14,293 | +57.2% |
| Current assets | 29/58 | €565,453 | €558,069 | -€7,384 | -1.3% |
| Amounts receivable after more than one year | 29 | €417,657 | €449,970 | +€32,313 | +7.7% |
| Other amounts receivable | 291 | €417,657 | €449,970 | +€32,313 | +7.7% |
| Amounts receivable within one year | 40/41 | €95,732 | €65,598 | -€30,134 | -31.5% |
| Trade receivables | 40 | €59,351 | €10,984 | -€48,366 | -81.5% |
| Other amounts receivable | 41 | €36,381 | €54,613 | +€18,232 | +50.1% |
| Cash at bank and in hand | 54/58 | €50,065 | €40,370 | -€9,696 | -19.4% |
| Deferred charges and accrued income | 490/1 | €1,999 | €2,131 | +€132 | +6.6% |
| Total equity and liabilities | 10/49 | €705,070 | €689,467 | -€15,603 | -2.2% |
| Equity | 10/15 | €492,567 | €495,737 | +€3,170 | +0.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €486,367 | €489,537 | +€3,170 | +0.7% |
| Distributable reserves | 133 | €486,367 | €489,537 | +€3,170 | +0.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €212,503 | €193,730 | -€18,773 | -8.8% |
| Amounts payable after more than one year | 17 | €166,562 | €166,562 | = | 0.0% |
| Financial debts | 170/4 | €166,562 | €166,562 | = | 0.0% |
| Amounts payable within one year | 42/48 | €34,624 | €27,168 | -€7,456 | -21.5% |
| Financial debts | 43 | - | €11,659 | +€11,659 | |
| Other loans | 439 | - | €11,659 | +€11,659 | |
| Trade debts | 44 | €2,702 | €603 | -€2,099 | -77.7% |
| Suppliers | 440/4 | €2,702 | €603 | -€2,099 | -77.7% |
| Taxes, remuneration and social security | 45 | €30,422 | €7,282 | -€23,139 | -76.1% |
| Taxes | 450/3 | €30,422 | €7,282 | -€23,139 | -76.1% |
| Other amounts payable | 47/48 | €1,500 | €7,623 | +€6,123 | +408.2% |
| Accrued charges and deferred income | 492/3 | €11,317 | €0 | -€11,317 | -100.0% |
| Non-recurring operating income | 76A | €6,000 | €0 | -€6,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,795 | €28,739 | +€13,944 | +94.2% |
| Other operating charges | 640/8 | €524 | €315 | -€209 | -39.8% |
| Gross operating margin | 9900 | €197,608 | €86,386 | -€111,222 | -56.3% |
| Operating profit (loss) | 9901 | €182,289 | €57,332 | -€124,958 | -68.5% |
| Financial income | 75/76B | €33,530 | €36,567 | +€3,037 | +9.1% |
| Recurring financial income | 75 | €33,530 | €36,567 | +€3,037 | +9.1% |
| Financial charges | 65/66B | €11,548 | €12,041 | +€493 | +4.3% |
| Recurring financial charges | 65 | €11,548 | €12,041 | +€493 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €204,271 | €81,858 | -€122,413 | -59.9% |
| Income taxes | 67/77 | €60,243 | €22,945 | -€37,298 | -61.9% |
| Profit (loss) for the period | 9904 | €144,028 | €58,913 | -€85,115 | -59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €144,028 | €58,913 | -€85,115 | -59.1% |
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 9 October 2026 via checked.be.