APYDEL: 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.
APYDEL
Largest movements
- Tangible fixed assets -€12,629
down €12,629 (-27.6%), from €45,772 to €33,143
of which Furniture and vehicles: -€11,073
- Deferred charges and accrued income -€2,713
down €2,713 (-58.7%), from €4,621 to €1,908
- Stocks and contracts -€2,500
down €2,500 (-2.7%), from €92,772 to €90,272
- Receivables within one year -€2,343
down €2,343 (-6.4%), from €36,604 to €34,261
of which Trade receivables: -€9,447
- Trade debts -€7,990
down €7,990 (-19.4%), from €41,154 to €33,164
- Profit (loss) carried forward -€7,712
down €7,712, from €5,774 to -€1,938
- Debts after one year -€6,474
down €6,474 (-11.8%), from €55,000 to €48,526
- Tax, wage and social debts +€2,204
up €2,204 (+9.7%), from €22,805 to €25,009
of which Taxes: +€2,204
- Gross operating margin -€11,707
down €11,707 (-49.3%), from €23,730 to €12,023
- Depreciation +€8,406
up €8,406 (+127%), from €6,603 to €15,009
- Taxes -€4,110
down €4,110 (-98.0%), from €4,192 to €82
- Staff costs -€672
down €672 (-28.2%), from €2,382 to €1,710
- Other operating charges -€616
down €616 (-43.3%), from €1,424 to €808
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.
Derived cash bridge
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 | €207,478 | €187,749 | -€19,729 | -9.5% |
| Fixed assets | 21/28 | €47,810 | €35,181 | -€12,629 | -26.4% |
| Tangible fixed assets | 22/27 | €45,772 | €33,143 | -€12,629 | -27.6% |
| Plant, machinery and equipment | 23 | €8,638 | €8,011 | -€627 | -7.3% |
| Furniture and vehicles | 24 | €30,341 | €19,268 | -€11,073 | -36.5% |
| Other tangible fixed assets | 26 | €6,793 | €5,864 | -€929 | -13.7% |
| Financial fixed assets | 28 | €2,038 | €2,038 | = | 0.0% |
| Current assets | 29/58 | €159,668 | €152,568 | -€7,100 | -4.4% |
| Stocks and contracts in progress | 3 | €92,772 | €90,272 | -€2,500 | -2.7% |
| Stocks | 30/36 | €92,772 | €90,272 | -€2,500 | -2.7% |
| Amounts receivable within one year | 40/41 | €36,604 | €34,261 | -€2,343 | -6.4% |
| Trade receivables | 40 | €34,139 | €24,692 | -€9,447 | -27.7% |
| Other amounts receivable | 41 | €2,465 | €9,569 | +€7,104 | +288% |
| Cash at bank and in hand | 54/58 | €25,671 | €26,127 | +€456 | +1.8% |
| Deferred charges and accrued income | 490/1 | €4,621 | €1,908 | -€2,713 | -58.7% |
| Total equity and liabilities | 10/49 | €207,478 | €187,749 | -€19,729 | -9.5% |
| Equity | 10/15 | €81,463 | €73,751 | -€7,712 | -9.5% |
| Contributions | 10/11 | €52,000 | €52,000 | = | 0.0% |
| Reserves | 13 | €23,689 | €23,689 | = | 0.0% |
| Distributable reserves | 133 | €23,689 | €23,689 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,774 | -€1,938 | -€7,712 | |
| Amounts payable | 17/49 | €126,015 | €113,998 | -€12,017 | -9.5% |
| Amounts payable after more than one year | 17 | €55,000 | €48,526 | -€6,474 | -11.8% |
| Financial debts | 170/4 | €55,000 | €48,526 | -€6,474 | -11.8% |
| Amounts payable within one year | 42/48 | €70,190 | €64,647 | -€5,543 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €6,231 | €6,474 | +€243 | +3.9% |
| Trade debts | 44 | €41,154 | €33,164 | -€7,990 | -19.4% |
| Suppliers | 440/4 | €41,154 | €33,164 | -€7,990 | -19.4% |
| Taxes, remuneration and social security | 45 | €22,805 | €25,009 | +€2,204 | +9.7% |
| Taxes | 450/3 | €17,405 | €19,609 | +€2,204 | +12.7% |
| Remuneration and social security | 454/9 | €5,400 | €5,400 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €825 | €825 | = | 0.0% |
| Non-recurring operating income | 76A | - | €1,900 | +€1,900 | |
| Remuneration, social security and pensions | 62 | €2,382 | €1,710 | -€672 | -28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,603 | €15,009 | +€8,406 | +127% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €120 | +€120 | |
| Other operating charges | 640/8 | €1,424 | €808 | -€616 | -43.3% |
| Gross operating margin | 9900 | €23,730 | €12,023 | -€11,707 | -49.3% |
| Operating profit (loss) | 9901 | €13,321 | -€5,624 | -€18,945 | |
| Financial income | 75/76B | €170 | €339 | +€169 | +99.4% |
| Recurring financial income | 75 | €170 | €339 | +€169 | +99.4% |
| Financial charges | 65/66B | €1,788 | €2,345 | +€557 | +31.2% |
| Recurring financial charges | 65 | €1,788 | €2,345 | +€557 | +31.2% |
| Profit (loss) for the period before taxes | 9903 | €11,703 | -€7,630 | -€19,333 | |
| Income taxes | 67/77 | €4,192 | €82 | -€4,110 | -98.0% |
| Profit (loss) for the period | 9904 | €7,511 | -€7,712 | -€15,223 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,511 | -€7,712 | -€15,223 |
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 14 October 2026 via checked.be.