L'Apierrot: 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.
L'Apierrot
Largest movements
- Tangible fixed assets -€21,948
down €21,948 (-45.5%), from €48,264 to €26,316
of which Plant, machinery and equipment: -€23,951
- Stocks and contracts +€6,524
up €6,524 (+70.0%), from €9,316 to €15,839
- Receivables within one year +€1,176
new in 2025: €1,176
- Other debts -€9,601
down €9,601 (-33.7%), from €28,459 to €18,858
- Trade debts -€9,520
down €9,520 (-68.0%), from €13,997 to €4,476
- Profit (loss) carried forward +€7,104
up €7,104 (+5.2%), from -€136,762 to -€129,658
- Tax, wage and social debts -€1,914
down €1,914 (-30.3%), from €6,310 to €4,395
of which Taxes: -€1,528
- Gross operating margin +€21,556
up €21,556 (+41.0%), from €52,578 to €74,134
- Staff costs -€15,470
down €15,470 (-35.3%), from €43,826 to €28,357
- Other operating charges +€7,648
up €7,648 (+556%), from €1,375 to €9,023
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 | €70,004 | €56,072 | -€13,932 | -19.9% |
| Fixed assets | 21/28 | €57,604 | €35,656 | -€21,948 | -38.1% |
| Tangible fixed assets | 22/27 | €48,264 | €26,316 | -€21,948 | -45.5% |
| Plant, machinery and equipment | 23 | €40,388 | €16,437 | -€23,951 | -59.3% |
| Furniture and vehicles | 24 | €7,876 | €9,879 | +€2,003 | +25.4% |
| Financial fixed assets | 28 | €9,340 | €9,340 | = | 0.0% |
| Current assets | 29/58 | €12,400 | €20,416 | +€8,016 | +64.6% |
| Stocks and contracts in progress | 3 | €9,316 | €15,839 | +€6,524 | +70.0% |
| Stocks | 30/36 | €9,316 | €15,839 | +€6,524 | +70.0% |
| Amounts receivable within one year | 40/41 | - | €1,176 | +€1,176 | |
| Other amounts receivable | 41 | - | €1,176 | +€1,176 | |
| Cash at bank and in hand | 54/58 | €3,085 | €3,401 | +€317 | +10.3% |
| Total equity and liabilities | 10/49 | €70,004 | €56,072 | -€13,932 | -19.9% |
| Equity | 10/15 | €21,239 | €28,342 | +€7,104 | +33.4% |
| Contributions | 10/11 | €158,000 | €158,000 | = | 0.0% |
| Capital | 10 | €158,000 | €158,000 | = | 0.0% |
| Issued capital | 100 | €158,000 | €158,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€136,762 | -€129,658 | +€7,104 | +5.2% |
| Amounts payable | 17/49 | €48,766 | €27,730 | -€21,036 | -43.1% |
| Amounts payable within one year | 42/48 | €48,766 | €27,730 | -€21,036 | -43.1% |
| Trade debts | 44 | €13,997 | €4,476 | -€9,520 | -68.0% |
| Suppliers | 440/4 | €13,997 | €4,476 | -€9,520 | -68.0% |
| Taxes, remuneration and social security | 45 | €6,310 | €4,395 | -€1,914 | -30.3% |
| Taxes | 450/3 | €5,002 | €3,475 | -€1,528 | -30.5% |
| Remuneration and social security | 454/9 | €1,307 | €921 | -€387 | -29.6% |
| Other amounts payable | 47/48 | €28,459 | €18,858 | -€9,601 | -33.7% |
| Remuneration, social security and pensions | 62 | €43,826 | €28,357 | -€15,470 | -35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,202 | €29,202 | = | 0.0% |
| Other operating charges | 640/8 | €1,375 | €9,023 | +€7,648 | +556% |
| Gross operating margin | 9900 | €52,578 | €74,134 | +€21,556 | +41.0% |
| Operating profit (loss) | 9901 | -€21,825 | €7,553 | +€29,378 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €234 | €286 | +€52 | +22.0% |
| Recurring financial charges | 65 | €234 | €286 | +€52 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | -€22,059 | €7,267 | +€29,326 | |
| Income taxes | 67/77 | - | €163 | +€163 | |
| Profit (loss) for the period | 9904 | -€22,059 | €7,104 | +€29,163 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,059 | €7,104 | +€29,163 |
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 26 October 2026 via checked.be.