IMMO APPELTANS - VAES: what changed
IMMO APPELTANS - VAES
Largest movements
- Tangible fixed assets -€16,568
down €16,568 (-9.1%), from €181,462 to €164,893
of which Land and buildings: -€9,818
- Cash -€7,071
down €7,071 (-82.1%), from €8,609 to €1,538
mainly Net result for the year (-€97,401) and Tax, wage and social debts (-€51,416)
- Other debts +€131,380
up €131,380 (+5,398%), from €2,434 to €133,814
- Profit (loss) carried forward -€97,401
down €97,401, from €0 to -€97,401
- Tax, wage and social debts -€51,416
down €51,416 (-99.7%), from €51,592 to €176
- Trade debts -€4,631
down €4,631 (-86.1%), from €5,379 to €748
- Taxes +€25,904
up €25,904 (+50.2%), from €51,592 to €77,496
- Depreciation +€8,463
up €8,463 (+69.9%), from €12,105 to €20,568
- Other operating charges +€860
up €860 (+53.4%), from €1,608 to €2,468
- Gross operating margin -€543
down €543 (-14.5%), from €3,732 to €3,189
- Financial charges +€195
up €195 (+290%), from €67 to €262
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €422,997 | €400,929 | -€22,068 | -5.2% |
| Fixed assets | 21/28 | €181,462 | €164,893 | -€16,568 | -9.1% |
| Tangible fixed assets | 22/27 | €181,462 | €164,893 | -€16,568 | -9.1% |
| Land and buildings | 22 | €138,375 | €128,557 | -€9,818 | -7.1% |
| Plant, machinery and equipment | 23 | €5,231 | €3,466 | -€1,765 | -33.7% |
| Furniture and vehicles | 24 | €37,856 | €32,871 | -€4,985 | -13.2% |
| Current assets | 29/58 | €241,535 | €236,035 | -€5,500 | -2.3% |
| Amounts receivable after more than one year | 29 | €224,875 | €224,875 | = | 0.0% |
| Other amounts receivable | 291 | €224,875 | €224,875 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,180 | €8,719 | +€1,539 | +21.4% |
| Trade receivables | 40 | €580 | €7,380 | +€6,800 | +1,172% |
| Other amounts receivable | 41 | €6,600 | €1,339 | -€5,261 | -79.7% |
| Cash at bank and in hand | 54/58 | €8,609 | €1,538 | -€7,071 | -82.1% |
| Deferred charges and accrued income | 490/1 | €871 | €904 | +€32 | +3.7% |
| Total equity and liabilities | 10/49 | €422,997 | €400,929 | -€22,068 | -5.2% |
| Equity | 10/15 | €363,592 | €266,190 | -€97,401 | -26.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €344,992 | €344,992 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €11,860 | €11,860 | = | 0.0% |
| Distributable reserves | 133 | €333,132 | €333,132 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€97,401 | -€97,401 | |
| Amounts payable | 17/49 | €59,405 | €134,738 | +€75,333 | +127% |
| Amounts payable within one year | 42/48 | €59,405 | €134,738 | +€75,333 | +127% |
| Trade debts | 44 | €5,379 | €748 | -€4,631 | -86.1% |
| Suppliers | 440/4 | €5,379 | €748 | -€4,631 | -86.1% |
| Taxes, remuneration and social security | 45 | €51,592 | €176 | -€51,416 | -99.7% |
| Taxes | 450/3 | €51,592 | €176 | -€51,416 | -99.7% |
| Other amounts payable | 47/48 | €2,434 | €133,814 | +€131,380 | +5,398% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,105 | €20,568 | +€8,463 | +69.9% |
| Other operating charges | 640/8 | €1,608 | €2,468 | +€860 | +53.4% |
| Non-recurring operating charges | 66A | €67,368 | - | -€67,368 | |
| Gross operating margin | 9900 | €3,732 | €3,189 | -€543 | -14.5% |
| Operating profit (loss) | 9901 | -€77,350 | -€19,847 | +€57,503 | +74.3% |
| Financial income | 75/76B | €194 | €204 | +€10 | +5.0% |
| Recurring financial income | 75 | €194 | €204 | +€10 | +5.0% |
| Financial charges | 65/66B | €67 | €262 | +€195 | +290% |
| Recurring financial charges | 65 | €67 | €262 | +€195 | +290% |
| Profit (loss) for the period before taxes | 9903 | -€77,223 | -€19,905 | +€57,317 | +74.2% |
| Income taxes | 67/77 | €51,592 | €77,496 | +€25,904 | +50.2% |
| Profit (loss) for the period | 9904 | -€128,815 | -€97,401 | +€31,413 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€128,815 | -€97,401 | +€31,413 | +24.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.