DR APPERMANS W.: 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.
DR APPERMANS W.
Largest movements
- Cash +€86,836
up €86,836 (+41.7%), from €208,042 to €294,878
mainly Net result for the year (+€146,601) and Depreciation (+€1,357)
- Receivables within one year +€15,701
up €15,701 (+20.7%), from €76,026 to €91,727
- Reserves +€145,771
up €145,771 (+65.4%), from €222,938 to €368,709
- Trade debts -€43,720
down €43,720 (-94.7%), from €46,154 to €2,434
- Gross operating margin +€40,635
up €40,635 (+26.9%), from €151,253 to €191,888
- Taxes +€9,545
up €9,545 (+28.9%), from €33,015 to €42,560
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 | €289,485 | €390,672 | +€101,186 | +35.0% |
| Fixed assets | 21/28 | €5,124 | €3,767 | -€1,357 | -26.5% |
| Tangible fixed assets | 22/27 | €5,124 | €3,767 | -€1,357 | -26.5% |
| Furniture and vehicles | 24 | €5,124 | €3,767 | -€1,357 | -26.5% |
| Current assets | 29/58 | €284,362 | €386,905 | +€102,544 | +36.1% |
| Amounts receivable within one year | 40/41 | €76,026 | €91,727 | +€15,701 | +20.7% |
| Trade receivables | 40 | €76,026 | €91,727 | +€15,701 | +20.7% |
| Cash at bank and in hand | 54/58 | €208,042 | €294,878 | +€86,836 | +41.7% |
| Deferred charges and accrued income | 490/1 | €294 | €300 | +€6 | +2.0% |
| Total equity and liabilities | 10/49 | €289,485 | €390,672 | +€101,186 | +35.0% |
| Equity | 10/15 | €227,938 | €373,709 | +€145,771 | +64.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €222,938 | €368,709 | +€145,771 | +65.4% |
| Distributable reserves | 133 | €222,938 | €368,709 | +€145,771 | +65.4% |
| Amounts payable | 17/49 | €61,547 | €16,963 | -€44,584 | -72.4% |
| Amounts payable within one year | 42/48 | €61,372 | €16,796 | -€44,577 | -72.6% |
| Trade debts | 44 | €46,154 | €2,434 | -€43,720 | -94.7% |
| Suppliers | 440/4 | €46,154 | €2,434 | -€43,720 | -94.7% |
| Taxes, remuneration and social security | 45 | €10,953 | €10,215 | -€738 | -6.7% |
| Taxes | 450/3 | €10,953 | €10,215 | -€738 | -6.7% |
| Other amounts payable | 47/48 | €4,265 | €4,147 | -€119 | -2.8% |
| Accrued charges and deferred income | 492/3 | €175 | €167 | -€8 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €493 | €1,357 | +€865 | +175.5% |
| Other operating charges | 640/8 | €62 | €1,086 | +€1,024 | +1652.3% |
| Gross operating margin | 9900 | €151,253 | €191,888 | +€40,635 | +26.9% |
| Operating profit (loss) | 9901 | €150,698 | €189,444 | +€38,746 | +25.7% |
| Financial income | 75/76B | €0 | €1 | +€1 | +9900.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +9900.0% |
| Financial charges | 65/66B | €299 | €285 | -€14 | -4.7% |
| Recurring financial charges | 65 | €299 | €285 | -€14 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €150,400 | €189,160 | +€38,761 | +25.8% |
| Income taxes | 67/77 | €33,015 | €42,560 | +€9,545 | +28.9% |
| Profit (loss) for the period | 9904 | €117,385 | €146,601 | +€29,216 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €117,385 | €146,601 | +€29,216 | +24.9% |
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 11 October 2026 via checked.be.