DE APPELIER: 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 APPELIER
Largest movements
- Tangible fixed assets -€10,812
down €10,812 (-28.2%), from €38,395 to €27,583
of which Furniture and vehicles: -€9,070
- Receivables within one year +€4,706
up €4,706 (+17.7%), from €26,609 to €31,315
of which Other amounts receivable: +€6,036
- Cash +€3,369
up €3,369 (+5.5%), from €61,621 to €64,990
mainly Depreciation (+€15,601) and Net result for the year (+€11,041)
- Reserves +€11,041
up €11,041 (+50.8%), from €21,730 to €32,771
of which Distributable reserves: +€11,041
- Tax, wage and social debts -€5,204
down €5,204 (-24.5%), from €21,214 to €16,010
of which Remuneration and social security: -€4,496
- Trade debts -€4,333
down €4,333 (-36.9%), from €11,730 to €7,397
- Debts after one year -€2,281
no longer reported in 2025 (was €2,281)
- Current portion of long-term debt -€1,611
down €1,611 (-33.0%), from €4,875 to €3,265
- Gross operating margin +€20,610
up €20,610 (+12.5%), from €165,296 to €185,906
- Staff costs +€15,013
up €15,013 (+11.0%), from €137,076 to €152,088
- Financial charges +€3,929
up €3,929 (+551%), from €713 to €4,642
- Taxes -€2,613
down €2,613 (-65.4%), from €3,994 to €1,381
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 | €130,819 | €127,544 | -€3,275 | -2.5% |
| Fixed assets | 21/28 | €38,395 | €27,583 | -€10,812 | -28.2% |
| Tangible fixed assets | 22/27 | €38,395 | €27,583 | -€10,812 | -28.2% |
| Plant, machinery and equipment | 23 | €9,652 | €9,535 | -€117 | -1.2% |
| Furniture and vehicles | 24 | €23,383 | €14,313 | -€9,070 | -38.8% |
| Other tangible fixed assets | 26 | €5,360 | €3,735 | -€1,625 | -30.3% |
| Current assets | 29/58 | €92,424 | €99,961 | +€7,537 | +8.2% |
| Stocks and contracts in progress | 3 | €1,810 | €1,149 | -€661 | -36.5% |
| Stocks | 30/36 | €1,810 | €1,149 | -€661 | -36.5% |
| Amounts receivable within one year | 40/41 | €26,609 | €31,315 | +€4,706 | +17.7% |
| Trade receivables | 40 | €3,950 | €2,620 | -€1,330 | -33.7% |
| Other amounts receivable | 41 | €22,660 | €28,695 | +€6,036 | +26.6% |
| Cash at bank and in hand | 54/58 | €61,621 | €64,990 | +€3,369 | +5.5% |
| Deferred charges and accrued income | 490/1 | €2,384 | €2,506 | +€123 | +5.1% |
| Total equity and liabilities | 10/49 | €130,819 | €127,544 | -€3,275 | -2.5% |
| Equity | 10/15 | €84,875 | €95,917 | +€11,041 | +13.0% |
| Contributions | 10/11 | €10,200 | €10,200 | = | 0.0% |
| Reserves | 13 | €21,730 | €32,771 | +€11,041 | +50.8% |
| Tax-exempt reserves | 132 | €6,320 | €6,320 | = | 0.0% |
| Distributable reserves | 133 | €15,410 | €26,451 | +€11,041 | +71.7% |
| Profit (loss) carried forward | 14 | €52,946 | €52,946 | = | 0.0% |
| Amounts payable | 17/49 | €45,943 | €31,627 | -€14,316 | -31.2% |
| Amounts payable after more than one year | 17 | €2,281 | - | -€2,281 | |
| Financial debts | 170/4 | €2,281 | - | -€2,281 | |
| Amounts payable within one year | 42/48 | €43,663 | €31,627 | -€12,036 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €4,875 | €3,265 | -€1,611 | -33.0% |
| Trade debts | 44 | €11,730 | €7,397 | -€4,333 | -36.9% |
| Suppliers | 440/4 | €11,730 | €7,397 | -€4,333 | -36.9% |
| Taxes, remuneration and social security | 45 | €21,214 | €16,010 | -€5,204 | -24.5% |
| Taxes | 450/3 | €3,754 | €3,046 | -€708 | -18.9% |
| Remuneration and social security | 454/9 | €17,460 | €12,964 | -€4,496 | -25.7% |
| Other amounts payable | 47/48 | €5,843 | €4,955 | -€888 | -15.2% |
| Non-recurring operating income | 76A | - | €1,615 | +€1,615 | |
| Remuneration, social security and pensions | 62 | €137,076 | €152,088 | +€15,013 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,909 | €15,601 | -€308 | -1.9% |
| Other operating charges | 640/8 | €3,872 | €3,515 | -€358 | -9.2% |
| Gross operating margin | 9900 | €165,296 | €185,906 | +€20,610 | +12.5% |
| Operating profit (loss) | 9901 | €8,439 | €14,702 | +€6,263 | +74.2% |
| Financial income | 75/76B | €922 | €2,362 | +€1,441 | +156% |
| Recurring financial income | 75 | €922 | €2,362 | +€1,441 | +156% |
| Financial charges | 65/66B | €713 | €4,642 | +€3,929 | +551% |
| Recurring financial charges | 65 | €713 | €4,642 | +€3,929 | +551% |
| Profit (loss) for the period before taxes | 9903 | €8,648 | €12,422 | +€3,774 | +43.6% |
| Income taxes | 67/77 | €3,994 | €1,381 | -€2,613 | -65.4% |
| Profit (loss) for the period | 9904 | €4,654 | €11,041 | +€6,387 | +137% |
| Profit (loss) for the period to be appropriated | 9905 | €4,654 | €11,041 | +€6,387 | +137% |
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 19 October 2026 via checked.be.