L'APOSTROPHE: 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'APOSTROPHE
Largest movements
- Receivables within one year +€19,990
up €19,990 (+130.9%), from €15,267 to €35,257
of which Trade receivables: +€14,233
- Tangible fixed assets -€10,699
down €10,699 (-9.2%), from €116,701 to €106,002
of which Other tangible fixed assets: -€9,845
- Stocks and contracts +€9,848
up €9,848 (+4.7%), from €210,927 to €220,775
- Deferred charges and accrued income +€4,899
up €4,899 (+47.4%), from €10,331 to €15,230
- Tax, wage and social debts +€38,969
up €38,969 (+98.6%), from €39,535 to €78,504
of which Taxes: +€27,538
- Debts after one year -€16,985
down €16,985 (-31.8%), from €53,465 to €36,480
- Profit (loss) carried forward -€15,357
down €15,357 (-470.0%), from -€3,267 to -€18,625
- Other debts +€8,214
up €8,214 (+459.8%), from €1,786 to €10,000
- Short-term financial debts +€6,436
up €6,436 (+6.3%), from €102,038 to €108,474
- Gross operating margin -€13,601
down €13,601 (-4.6%), from €293,595 to €279,993
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 | €364,227 | €388,742 | +€24,515 | +6.7% |
| Fixed assets | 21/28 | €122,934 | €112,234 | -€10,699 | -8.7% |
| Tangible fixed assets | 22/27 | €116,701 | €106,002 | -€10,699 | -9.2% |
| Plant, machinery and equipment | 23 | €8,075 | €7,029 | -€1,046 | -13.0% |
| Furniture and vehicles | 24 | €270 | €461 | +€191 | +70.8% |
| Other tangible fixed assets | 26 | €108,357 | €98,512 | -€9,845 | -9.1% |
| Financial fixed assets | 28 | €6,232 | €6,232 | = | 0.0% |
| Current assets | 29/58 | €241,293 | €276,508 | +€35,214 | +14.6% |
| Stocks and contracts in progress | 3 | €210,927 | €220,775 | +€9,848 | +4.7% |
| Stocks | 30/36 | €210,927 | €220,775 | +€9,848 | +4.7% |
| Amounts receivable within one year | 40/41 | €15,267 | €35,257 | +€19,990 | +130.9% |
| Trade receivables | 40 | €12,982 | €27,215 | +€14,233 | +109.6% |
| Other amounts receivable | 41 | €2,285 | €8,042 | +€5,757 | +252.0% |
| Cash at bank and in hand | 54/58 | €4,769 | €5,245 | +€477 | +10.0% |
| Deferred charges and accrued income | 490/1 | €10,331 | €15,230 | +€4,899 | +47.4% |
| Total equity and liabilities | 10/49 | €364,227 | €388,742 | +€24,515 | +6.7% |
| Equity | 10/15 | €34,075 | €18,718 | -€15,357 | -45.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €18,750 | €18,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,267 | -€18,625 | -€15,357 | -470.0% |
| Amounts payable | 17/49 | €330,152 | €370,024 | +€39,872 | +12.1% |
| Amounts payable after more than one year | 17 | €53,465 | €36,480 | -€16,985 | -31.8% |
| Financial debts | 170/4 | €53,465 | €36,480 | -€16,985 | -31.8% |
| Amounts payable within one year | 42/48 | €273,266 | €331,293 | +€58,027 | +21.2% |
| Current portion of amounts payable after more than one year | 42 | €16,200 | €16,985 | +€786 | +4.8% |
| Financial debts | 43 | €102,038 | €108,474 | +€6,436 | +6.3% |
| Credit institutions | 430/8 | €102,038 | €108,474 | +€6,436 | +6.3% |
| Trade debts | 44 | €113,707 | €117,329 | +€3,622 | +3.2% |
| Suppliers | 440/4 | €113,707 | €117,329 | +€3,622 | +3.2% |
| Taxes, remuneration and social security | 45 | €39,535 | €78,504 | +€38,969 | +98.6% |
| Taxes | 450/3 | €8,798 | €36,335 | +€27,538 | +313.0% |
| Remuneration and social security | 454/9 | €30,737 | €42,169 | +€11,431 | +37.2% |
| Other amounts payable | 47/48 | €1,786 | €10,000 | +€8,214 | +459.8% |
| Accrued charges and deferred income | 492/3 | €3,421 | €2,252 | -€1,169 | -34.2% |
| Remuneration, social security and pensions | 62 | €251,487 | €254,393 | +€2,906 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,665 | €15,197 | +€532 | +3.6% |
| Other operating charges | 640/8 | €7,202 | €7,429 | +€227 | +3.2% |
| Gross operating margin | 9900 | €293,595 | €279,993 | -€13,601 | -4.6% |
| Operating profit (loss) | 9901 | €20,241 | €2,974 | -€17,267 | -85.3% |
| Financial income | 75/76B | €1,893 | €1,009 | -€884 | -46.7% |
| Recurring financial income | 75 | €1,893 | €1,009 | -€884 | -46.7% |
| Financial charges | 65/66B | €19,741 | €19,285 | -€456 | -2.3% |
| Recurring financial charges | 65 | €19,741 | €19,285 | -€456 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €2,393 | -€15,301 | -€17,694 | |
| Income taxes | 67/77 | €1,260 | €56 | -€1,204 | -95.5% |
| Profit (loss) for the period | 9904 | €1,133 | -€15,357 | -€16,490 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,133 | -€15,357 | -€16,490 |
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 9 October 2026 via checked.be.