APVE: 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.
APVE
Largest movements
- Tangible fixed assets -€29,101
down €29,101 (-9.1%), from €319,554 to €290,453
- Debts after one year -€45,470
down €45,470 (-13.6%), from €334,057 to €288,587
- Other debts +€11,474
up €11,474 (+7.7%), from €149,179 to €160,654
- Gross operating margin -€23,560
down €23,560 (-33.3%), from €70,671 to €47,111
- Provisions -€3,325
down €3,325, from €1,085 to -€2,240
- Taxes -€1,944
down €1,944 (-70.2%), from €2,767 to €823
- Other operating charges -€1,665
down €1,665 (-19.4%), from €8,590 to €6,926
- Financial income -€1,633
no longer reported in 2025 (was €1,633)
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 | €685,392 | €652,951 | -€32,441 | -4.7% |
| Fixed assets | 21/28 | €319,554 | €290,453 | -€29,101 | -9.1% |
| Tangible fixed assets | 22/27 | €319,554 | €290,453 | -€29,101 | -9.1% |
| Land and buildings | 22 | €319,554 | €290,453 | -€29,101 | -9.1% |
| Current assets | 29/58 | €365,839 | €362,498 | -€3,340 | -0.9% |
| Stocks and contracts in progress | 3 | €1,924 | €6,818 | +€4,895 | +254.4% |
| Stocks | 30/36 | €1,924 | €6,818 | +€4,895 | +254.4% |
| Amounts receivable within one year | 40/41 | €19,578 | €17,629 | -€1,949 | -10.0% |
| Trade receivables | 40 | €19,549 | €17,619 | -€1,930 | -9.9% |
| Other amounts receivable | 41 | €29 | €10 | -€19 | -64.8% |
| Current investments | 50/53 | €236 | €236 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €344,101 | €337,815 | -€6,286 | -1.8% |
| Total equity and liabilities | 10/49 | €685,392 | €652,951 | -€32,441 | -4.7% |
| Equity | 10/15 | €128,509 | €129,546 | +€1,036 | +0.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €78,509 | €79,546 | +€1,036 | +1.3% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €73,509 | €74,546 | +€1,036 | +1.4% |
| Amounts payable | 17/49 | €556,883 | €523,406 | -€33,477 | -6.0% |
| Amounts payable after more than one year | 17 | €334,057 | €288,587 | -€45,470 | -13.6% |
| Financial debts | 170/4 | €334,057 | €288,587 | -€45,470 | -13.6% |
| Amounts payable within one year | 42/48 | €211,374 | €223,245 | +€11,871 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €44,793 | €45,470 | +€677 | +1.5% |
| Trade debts | 44 | €14,617 | €13,689 | -€928 | -6.3% |
| Suppliers | 440/4 | €14,617 | €13,689 | -€928 | -6.3% |
| Taxes, remuneration and social security | 45 | €2,785 | €3,433 | +€648 | +23.3% |
| Taxes | 450/3 | €2,785 | €3,433 | +€648 | +23.3% |
| Other amounts payable | 47/48 | €149,179 | €160,654 | +€11,474 | +7.7% |
| Accrued charges and deferred income | 492/3 | €11,452 | €11,573 | +€122 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,101 | €29,101 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €1,085 | -€2,240 | -€3,325 | |
| Other operating charges | 640/8 | €8,590 | €6,926 | -€1,665 | -19.4% |
| Gross operating margin | 9900 | €70,671 | €47,111 | -€23,560 | -33.3% |
| Operating profit (loss) | 9901 | €31,896 | €13,325 | -€18,571 | -58.2% |
| Financial income | 75/76B | €1,633 | - | -€1,633 | |
| Recurring financial income | 75 | €1,633 | - | -€1,633 | |
| Financial charges | 65/66B | €12,700 | €11,465 | -€1,235 | -9.7% |
| Recurring financial charges | 65 | €12,700 | €11,465 | -€1,235 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €20,829 | €1,859 | -€18,969 | -91.1% |
| Income taxes | 67/77 | €2,767 | €823 | -€1,944 | -70.2% |
| Profit (loss) for the period | 9904 | €18,062 | €1,036 | -€17,026 | -94.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,062 | €1,036 | -€17,026 | -94.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.