D'APPETIJT: 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'APPETIJT
Largest movements
- Intangible fixed assets -€189,509
no longer reported in 2025 (was €189,509)
- Cash +€118,804
up €118,804 (+608%), from €19,551 to €138,355
mainly Investment in fixed assets (net) (+€57,923) and Depreciation (+€52,224)
- Tangible fixed assets +€79,362
up €79,362 (+14.4%), from €551,400 to €630,762
of which Plant, machinery and equipment: +€103,260
- Receivables within one year -€22,321
down €22,321 (-95.0%), from €23,503 to €1,182
of which Trade receivables: -€18,079
- Debts after one year -€61,549
down €61,549 (-12.0%), from €511,181 to €449,632
- Reserves +€23,310
up €23,310 (+15.5%), from €150,563 to €173,873
of which Distributable reserves: +€23,310
- Profit (loss) carried forward +€13,600
no longer reported in 2025 (was -€13,600)
- Tax, wage and social debts +€10,173
up €10,173 (+186%), from €5,473 to €15,646
of which Taxes: +€15,072
- Depreciation -€33,766
down €33,766 (-39.3%), from €85,990 to €52,224
- Gross operating margin +€33,027
up €33,027 (+36.7%), from €89,962 to €122,989
- Taxes +€6,649
up €6,649 (+1,278%), from €520 to €7,170
- Financial charges +€5,277
up €5,277 (+38.2%), from €13,810 to €19,086
- Staff costs +€3,259
up €3,259 (+547%), from €595 to €3,855
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 | €787,537 | €774,166 | -€13,372 | -1.7% |
| Fixed assets | 21/28 | €740,909 | €630,762 | -€110,148 | -14.9% |
| Intangible fixed assets | 21 | €189,509 | - | -€189,509 | |
| Tangible fixed assets | 22/27 | €551,400 | €630,762 | +€79,362 | +14.4% |
| Land and buildings | 22 | €425,875 | €422,100 | -€3,775 | -0.9% |
| Plant, machinery and equipment | 23 | €20,751 | €124,011 | +€103,260 | +498% |
| Furniture and vehicles | 24 | €56,551 | €42,995 | -€13,555 | -24.0% |
| Other tangible fixed assets | 26 | €48,223 | €41,655 | -€6,568 | -13.6% |
| Current assets | 29/58 | €46,628 | €143,404 | +€96,776 | +208% |
| Stocks and contracts in progress | 3 | - | €2,324 | +€2,324 | |
| Stocks | 30/36 | - | €2,324 | +€2,324 | |
| Amounts receivable within one year | 40/41 | €23,503 | €1,182 | -€22,321 | -95.0% |
| Trade receivables | 40 | €18,180 | €101 | -€18,079 | -99.4% |
| Other amounts receivable | 41 | €5,323 | €1,081 | -€4,242 | -79.7% |
| Cash at bank and in hand | 54/58 | €19,551 | €138,355 | +€118,804 | +608% |
| Deferred charges and accrued income | 490/1 | €3,574 | €1,543 | -€2,031 | -56.8% |
| Total equity and liabilities | 10/49 | €787,537 | €774,166 | -€13,372 | -1.7% |
| Equity | 10/15 | €162,383 | €199,293 | +€36,911 | +22.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €6,820 | €6,820 | = | 0.0% |
| Reserves | 13 | €150,563 | €173,873 | +€23,310 | +15.5% |
| Tax-exempt reserves | 132 | €42,248 | €42,248 | = | 0.0% |
| Distributable reserves | 133 | €108,315 | €131,626 | +€23,310 | +21.5% |
| Profit (loss) carried forward | 14 | -€13,600 | - | +€13,600 | |
| Amounts payable | 17/49 | €625,155 | €574,873 | -€50,282 | -8.0% |
| Amounts payable after more than one year | 17 | €511,181 | €449,632 | -€61,549 | -12.0% |
| Financial debts | 170/4 | €511,181 | €449,632 | -€61,549 | -12.0% |
| Amounts payable within one year | 42/48 | €108,798 | €125,195 | +€16,397 | +15.1% |
| Current portion of amounts payable after more than one year | 42 | €60,376 | €64,184 | +€3,809 | +6.3% |
| Trade debts | 44 | €8,217 | €4,599 | -€3,618 | -44.0% |
| Suppliers | 440/4 | €8,217 | €4,599 | -€3,618 | -44.0% |
| Taxes, remuneration and social security | 45 | €5,473 | €15,646 | +€10,173 | +186% |
| Taxes | 450/3 | €574 | €15,646 | +€15,072 | +2,628% |
| Remuneration and social security | 454/9 | €4,899 | - | -€4,899 | |
| Other amounts payable | 47/48 | €34,733 | €40,766 | +€6,034 | +17.4% |
| Accrued charges and deferred income | 492/3 | €5,175 | €45 | -€5,130 | -99.1% |
| Non-recurring operating income | 76A | - | €171,833 | +€171,833 | |
| Remuneration, social security and pensions | 62 | €595 | €3,855 | +€3,259 | +547% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,990 | €52,224 | -€33,766 | -39.3% |
| Other operating charges | 640/8 | €2,754 | €3,927 | +€1,173 | +42.6% |
| Non-recurring operating charges | 66A | - | €177 | +€177 | |
| Gross operating margin | 9900 | €89,962 | €122,989 | +€33,027 | +36.7% |
| Operating profit (loss) | 9901 | €622 | €62,806 | +€62,184 | +9,994% |
| Financial income | 75/76B | €107 | €361 | +€253 | +236% |
| Recurring financial income | 75 | €107 | €361 | +€253 | +236% |
| Financial charges | 65/66B | €13,810 | €19,086 | +€5,277 | +38.2% |
| Recurring financial charges | 65 | €13,810 | €19,086 | +€5,277 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | -€13,080 | €44,080 | +€57,160 | |
| Income taxes | 67/77 | €520 | €7,170 | +€6,649 | +1,278% |
| Profit (loss) for the period | 9904 | -€13,600 | €36,911 | +€50,511 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,600 | €36,911 | +€50,511 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.