APUMAS: 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.
APUMAS
Largest movements
- Receivables within one year -€384,643
down €384,643 (-32.3%), from €1.2m to €807,893
of which Trade receivables: -€432,450
- Tangible fixed assets -€119,005
down €119,005 (-19.5%), from €609,327 to €490,323
- Stocks and contracts -€56,574
down €56,574 (-28.6%), from €197,487 to €140,913
- Deferred charges and accrued income +€51,709
up €51,709 (+13.7%), from €376,874 to €428,583
- Cash +€42,929
up €42,929 (+46.4%), from €92,496 to €135,425
mainly Receivables within one year (+€384,643) and Other debts (+€181,976)
- Short-term financial debts -€400,000
no longer reported in 2025 (was €400,000)
- Other debts +€181,976
up €181,976 (+176.6%), from €103,030 to €285,006
- Trade debts -€127,377
down €127,377 (-28.8%), from €442,936 to €315,559
- Profit (loss) carried forward -€72,302
down €72,302 (-10.7%), from €678,275 to €605,973
- Debts after one year -€27,890
down €27,890 (-10.8%), from €258,107 to €230,217
- Gross operating margin -€264,989
down €264,989 (-17.5%), from €1.5m to €1.3m
- Taxes -€68,683
down €68,683 (-56.1%), from €122,505 to €53,822
- Staff costs -€56,501
down €56,501 (-6.0%), from €948,156 to €891,654
- Other operating charges +€27,923
up €27,923 (+420.0%), from €6,649 to €34,572
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 | €2,469,960 | €2,003,596 | -€466,364 | -18.9% |
| Fixed assets | 21/28 | €610,567 | €490,783 | -€119,785 | -19.6% |
| Tangible fixed assets | 22/27 | €609,327 | €490,323 | -€119,005 | -19.5% |
| Land and buildings | 22 | €323,591 | €303,299 | -€20,292 | -6.3% |
| Plant, machinery and equipment | 23 | €178,518 | €165,427 | -€13,092 | -7.3% |
| Furniture and vehicles | 24 | €62,118 | €21,596 | -€40,521 | -65.2% |
| Leasing and similar rights | 25 | €810 | - | -€810 | |
| Other tangible fixed assets | 26 | €44,290 | - | -€44,290 | |
| Financial fixed assets | 28 | €1,240 | €460 | -€780 | -62.9% |
| Current assets | 29/58 | €1,859,393 | €1,512,814 | -€346,579 | -18.6% |
| Stocks and contracts in progress | 3 | €197,487 | €140,913 | -€56,574 | -28.6% |
| Stocks | 30/36 | €197,487 | €140,913 | -€56,574 | -28.6% |
| Amounts receivable within one year | 40/41 | €1,192,536 | €807,893 | -€384,643 | -32.3% |
| Trade receivables | 40 | €1,192,536 | €760,086 | -€432,450 | -36.3% |
| Other amounts receivable | 41 | - | €47,807 | +€47,807 | |
| Cash at bank and in hand | 54/58 | €92,496 | €135,425 | +€42,929 | +46.4% |
| Deferred charges and accrued income | 490/1 | €376,874 | €428,583 | +€51,709 | +13.7% |
| Total equity and liabilities | 10/49 | €2,469,960 | €2,003,596 | -€466,364 | -18.9% |
| Equity | 10/15 | €827,215 | €754,913 | -€72,302 | -8.7% |
| Contributions | 10/11 | €109,000 | €109,000 | = | 0.0% |
| Reserves | 13 | €21,940 | €21,940 | = | 0.0% |
| Distributable reserves | 133 | €21,940 | €21,940 | = | 0.0% |
| Profit (loss) carried forward | 14 | €678,275 | €605,973 | -€72,302 | -10.7% |
| Investment grants | 15 | €18,000 | €18,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,642,745 | €1,248,683 | -€394,062 | -24.0% |
| Amounts payable after more than one year | 17 | €258,107 | €230,217 | -€27,890 | -10.8% |
| Financial debts | 170/4 | €258,107 | €230,217 | -€27,890 | -10.8% |
| Amounts payable within one year | 42/48 | €1,337,271 | €971,593 | -€365,678 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | €165,708 | €161,742 | -€3,966 | -2.4% |
| Financial debts | 43 | €400,000 | - | -€400,000 | |
| Credit institutions | 430/8 | €400,000 | - | -€400,000 | |
| Trade debts | 44 | €442,936 | €315,559 | -€127,377 | -28.8% |
| Suppliers | 440/4 | €442,936 | €315,559 | -€127,377 | -28.8% |
| Taxes, remuneration and social security | 45 | €225,598 | €209,286 | -€16,312 | -7.2% |
| Taxes | 450/3 | €118,014 | €106,189 | -€11,825 | -10.0% |
| Remuneration and social security | 454/9 | €107,584 | €103,097 | -€4,487 | -4.2% |
| Other amounts payable | 47/48 | €103,030 | €285,006 | +€181,976 | +176.6% |
| Accrued charges and deferred income | 492/3 | €47,366 | €46,873 | -€494 | -1.0% |
| Non-recurring operating income | 76A | €500 | €1,535 | +€1,035 | +207.0% |
| Remuneration, social security and pensions | 62 | €948,156 | €891,654 | -€56,501 | -6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,226 | €62,479 | -€14,747 | -19.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,155 | €9,599 | +€5,444 | +131.0% |
| Other operating charges | 640/8 | €6,649 | €34,572 | +€27,923 | +420.0% |
| Non-recurring operating charges | 66A | €5,553 | €62,885 | +€57,332 | +1032.4% |
| Gross operating margin | 9900 | €1,517,780 | €1,252,791 | -€264,989 | -17.5% |
| Operating profit (loss) | 9901 | €476,041 | €191,602 | -€284,440 | -59.8% |
| Financial income | 75/76B | €710 | €7,240 | +€6,531 | +920.0% |
| Recurring financial income | 75 | €710 | €7,240 | +€6,531 | +920.0% |
| Financial charges | 65/66B | €37,236 | €32,322 | -€4,914 | -13.2% |
| Recurring financial charges | 65 | €37,236 | €32,322 | -€4,914 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €439,515 | €166,520 | -€272,995 | -62.1% |
| Income taxes | 67/77 | €122,505 | €53,822 | -€68,683 | -56.1% |
| Profit (loss) for the period | 9904 | €317,010 | €112,698 | -€204,312 | -64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €317,010 | €112,698 | -€204,312 | -64.4% |
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 5 October 2026 via checked.be.