D'APOTHEOSE: 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.
D'APOTHEOSE
Largest movements
- Cash +€176,926
up €176,926 (+68.1%), from €259,930 to €436,856
mainly Other debts (+€138,955) and Net result for the year (+€127,852)
- Current investments -€125,000
down €125,000 (-62.5%), from €200,000 to €75,000
- Tangible fixed assets -€24,424
down €24,424 (-13.9%), from €175,822 to €151,398
of which Furniture and vehicles: -€20,235
- Receivables within one year +€22,745
up €22,745 (+30.7%), from €74,045 to €96,790
of which Trade receivables: +€15,988
- Other debts +€138,955
up €138,955 (+251%), from €55,453 to €194,408
- Reserves -€66,556
down €66,556 (-15.3%), from €435,289 to €368,733
of which Distributable reserves: -€66,556
- Debts after one year -€12,176
down €12,176 (-100%), from €12,176 to €0
- Trade debts -€7,692
down €7,692 (-28.8%), from €26,711 to €19,020
- Gross operating margin +€25,920
up €25,920 (+4.0%), from €650,975 to €676,895
- Staff costs +€18,493
up €18,493 (+4.1%), from €452,506 to €470,999
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 | €716,173 | €761,777 | +€45,603 | +6.4% |
| Fixed assets | 21/28 | €175,822 | €151,398 | -€24,424 | -13.9% |
| Tangible fixed assets | 22/27 | €175,822 | €151,398 | -€24,424 | -13.9% |
| Land and buildings | 22 | €119,815 | €115,626 | -€4,189 | -3.5% |
| Furniture and vehicles | 24 | €56,006 | €35,772 | -€20,235 | -36.1% |
| Current assets | 29/58 | €540,351 | €610,379 | +€70,027 | +13.0% |
| Amounts receivable within one year | 40/41 | €74,045 | €96,790 | +€22,745 | +30.7% |
| Trade receivables | 40 | €73,979 | €89,966 | +€15,988 | +21.6% |
| Other amounts receivable | 41 | €67 | €6,824 | +€6,757 | +10,157% |
| Current investments | 50/53 | €200,000 | €75,000 | -€125,000 | -62.5% |
| Cash at bank and in hand | 54/58 | €259,930 | €436,856 | +€176,926 | +68.1% |
| Deferred charges and accrued income | 490/1 | €6,376 | €1,733 | -€4,643 | -72.8% |
| Total equity and liabilities | 10/49 | €716,173 | €761,777 | +€45,603 | +6.4% |
| Equity | 10/15 | €513,288 | €446,732 | -€66,556 | -13.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €435,289 | €368,733 | -€66,556 | -15.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €433,429 | €366,873 | -€66,556 | -15.4% |
| Profit (loss) carried forward | 14 | €59,399 | €59,399 | = | 0.0% |
| Amounts payable | 17/49 | €202,885 | €315,045 | +€112,160 | +55.3% |
| Amounts payable after more than one year | 17 | €12,176 | €0 | -€12,176 | -100% |
| Financial debts | 170/4 | €12,176 | €0 | -€12,176 | -100% |
| Amounts payable within one year | 42/48 | €189,362 | €314,885 | +€125,523 | +66.3% |
| Current portion of amounts payable after more than one year | 42 | €12,783 | €12,176 | -€607 | -4.7% |
| Trade debts | 44 | €26,711 | €19,020 | -€7,692 | -28.8% |
| Suppliers | 440/4 | €26,711 | €19,020 | -€7,692 | -28.8% |
| Taxes, remuneration and social security | 45 | €94,415 | €89,280 | -€5,134 | -5.4% |
| Taxes | 450/3 | €38,456 | €67,265 | +€28,809 | +74.9% |
| Remuneration and social security | 454/9 | €55,959 | €22,015 | -€33,944 | -60.7% |
| Other amounts payable | 47/48 | €55,453 | €194,408 | +€138,955 | +251% |
| Accrued charges and deferred income | 492/3 | €1,347 | €160 | -€1,187 | -88.1% |
| Non-recurring operating income | 76A | €3,761 | €0 | -€3,761 | -100% |
| Remuneration, social security and pensions | 62 | €452,506 | €470,999 | +€18,493 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,686 | €25,088 | +€2,402 | +10.6% |
| Other operating charges | 640/8 | €2,480 | €2,139 | -€341 | -13.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €650,975 | €676,895 | +€25,920 | +4.0% |
| Operating profit (loss) | 9901 | €173,303 | €178,669 | +€5,366 | +3.1% |
| Financial income | 75/76B | €9,295 | €5,352 | -€3,943 | -42.4% |
| Recurring financial income | 75 | €9,295 | €5,352 | -€3,943 | -42.4% |
| Financial charges | 65/66B | €2,085 | €1,284 | -€801 | -38.4% |
| Recurring financial charges | 65 | €2,085 | €1,284 | -€801 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | €180,513 | €182,737 | +€2,224 | +1.2% |
| Income taxes | 67/77 | €53,927 | €54,885 | +€958 | +1.8% |
| Profit (loss) for the period | 9904 | €126,586 | €127,852 | +€1,266 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €126,586 | €127,852 | +€1,266 | +1.0% |
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 23 October 2026 via checked.be.