DE APPELBOOM: 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.
DE APPELBOOM
Largest movements
- Cash +€158,904
up €158,904 (+66.2%), from €239,970 to €398,873
mainly Depreciation (+€127,865) and Net result for the year (+€93,653)
- Tangible fixed assets -€127,865
down €127,865 (-4.0%), from €3.2m to €3.1m
- Reserves +€93,653
up €93,653 (+9.2%), from €1.0m to €1.1m
of which Distributable reserves: +€328,696
- Current portion of long-term debt -€38,245
down €38,245 (-63.8%), from €59,904 to €21,659
- Gross operating margin +€14,546
up €14,546 (+5.6%), from €260,518 to €275,065
- Depreciation +€3,568
up €3,568 (+2.9%), from €124,298 to €127,865
- Taxes +€3,143
up €3,143 (+10.1%), from €31,075 to €34,218
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 | €3,432,942 | €3,486,415 | +€53,473 | +1.6% |
| Fixed assets | 21/28 | €3,185,482 | €3,057,617 | -€127,865 | -4.0% |
| Tangible fixed assets | 22/27 | €3,185,482 | €3,057,617 | -€127,865 | -4.0% |
| Land and buildings | 22 | €3,185,482 | €3,057,617 | -€127,865 | -4.0% |
| Current assets | 29/58 | €247,460 | €428,798 | +€181,338 | +73.3% |
| Amounts receivable within one year | 40/41 | €7,490 | €29,925 | +€22,435 | +299.5% |
| Trade receivables | 40 | €3,565 | €26,000 | +€22,435 | +629.2% |
| Other amounts receivable | 41 | €3,925 | €3,925 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €239,970 | €398,873 | +€158,904 | +66.2% |
| Total equity and liabilities | 10/49 | €3,432,942 | €3,486,415 | +€53,473 | +1.6% |
| Equity | 10/15 | €3,366,886 | €3,460,539 | +€93,653 | +2.8% |
| Contributions | 10/11 | €2,350,434 | €2,350,434 | = | 0.0% |
| Reserves | 13 | €1,016,452 | €1,110,105 | +€93,653 | +9.2% |
| Non-distributable reserves | 130/1 | €235,043 | - | -€235,043 | |
| Reserves not available under the articles | 1311 | €235,043 | - | -€235,043 | |
| Distributable reserves | 133 | €781,408 | €1,110,105 | +€328,696 | +42.1% |
| Amounts payable | 17/49 | €66,056 | €25,876 | -€40,180 | -60.8% |
| Amounts payable after more than one year | 17 | €6,153 | - | -€6,153 | |
| Financial debts | 170/4 | €6,153 | - | -€6,153 | |
| Amounts payable within one year | 42/48 | €59,904 | €25,876 | -€34,027 | -56.8% |
| Current portion of amounts payable after more than one year | 42 | €59,904 | €21,659 | -€38,245 | -63.8% |
| Taxes, remuneration and social security | 45 | - | €4,218 | +€4,218 | |
| Taxes | 450/3 | - | €4,218 | +€4,218 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,298 | €127,865 | +€3,568 | +2.9% |
| Other operating charges | 640/8 | €17,776 | €18,041 | +€265 | +1.5% |
| Gross operating margin | 9900 | €260,518 | €275,065 | +€14,546 | +5.6% |
| Operating profit (loss) | 9901 | €118,445 | €129,159 | +€10,714 | +9.0% |
| Financial charges | 65/66B | €3,144 | €1,288 | -€1,856 | -59.0% |
| Recurring financial charges | 65 | €3,144 | €1,288 | -€1,856 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €115,301 | €127,871 | +€12,570 | +10.9% |
| Income taxes | 67/77 | €31,075 | €34,218 | +€3,143 | +10.1% |
| Profit (loss) for the period | 9904 | €84,225 | €93,653 | +€9,428 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €84,225 | €93,653 | +€9,428 | +11.2% |
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 10 October 2026 via checked.be.