'T APPELHOF: 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.
'T APPELHOF
Largest movements
- Cash +€5,214
up €5,214 (+372%), from €1,400 to €6,614
mainly Trade debts (+€6,293) and Depreciation (+€5,365)
- Tangible fixed assets -€4,637
down €4,637 (-24.3%), from €19,098 to €14,461
of which Plant, machinery and equipment: -€4,908
- Receivables within one year +€2,785
up €2,785 (+29.5%), from €9,433 to €12,218
of which Other amounts receivable: +€2,118
- Tax, wage and social debts -€6,847
no longer reported in 2025 (was €6,847)
- Trade debts +€6,293
up €6,293 (+224%), from €2,804 to €9,097
- Reserves +€5,156
up €5,156 (+57.0%), from €9,041 to €14,197
- Other debts -€1,240
no longer reported in 2025 (was €1,240)
- Gross operating margin -€4,231
down €4,231 (-22.7%), from €18,645 to €14,414
- Depreciation -€722
down €722 (-11.9%), from €6,087 to €5,365
- Other operating charges +€675
up €675 (+75.4%), from €895 to €1,571
- Taxes -€254
down €254 (-10.5%), from €2,426 to €2,172
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 | €29,932 | €33,294 | +€3,362 | +11.2% |
| Fixed assets | 21/28 | €19,098 | €14,461 | -€4,637 | -24.3% |
| Tangible fixed assets | 22/27 | €19,098 | €14,461 | -€4,637 | -24.3% |
| Plant, machinery and equipment | 23 | €18,706 | €13,798 | -€4,908 | -26.2% |
| Furniture and vehicles | 24 | €392 | €663 | +€272 | +69.4% |
| Current assets | 29/58 | €10,834 | €18,832 | +€7,998 | +73.8% |
| Amounts receivable within one year | 40/41 | €9,433 | €12,218 | +€2,785 | +29.5% |
| Trade receivables | 40 | €9,433 | €10,100 | +€667 | +7.1% |
| Other amounts receivable | 41 | - | €2,118 | +€2,118 | |
| Cash at bank and in hand | 54/58 | €1,400 | €6,614 | +€5,214 | +372% |
| Total equity and liabilities | 10/49 | €29,932 | €33,294 | +€3,362 | +11.2% |
| Equity | 10/15 | €19,041 | €24,197 | +€5,156 | +27.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €9,041 | €14,197 | +€5,156 | +57.0% |
| Distributable reserves | 133 | €9,041 | €14,197 | +€5,156 | +57.0% |
| Amounts payable | 17/49 | €10,890 | €9,097 | -€1,794 | -16.5% |
| Amounts payable within one year | 42/48 | €10,890 | €9,097 | -€1,794 | -16.5% |
| Trade debts | 44 | €2,804 | €9,097 | +€6,293 | +224% |
| Suppliers | 440/4 | €2,804 | €9,097 | +€6,293 | +224% |
| Taxes, remuneration and social security | 45 | €6,847 | - | -€6,847 | |
| Taxes | 450/3 | €6,847 | - | -€6,847 | |
| Other amounts payable | 47/48 | €1,240 | - | -€1,240 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,087 | €5,365 | -€722 | -11.9% |
| Other operating charges | 640/8 | €895 | €1,571 | +€675 | +75.4% |
| Gross operating margin | 9900 | €18,645 | €14,414 | -€4,231 | -22.7% |
| Operating profit (loss) | 9901 | €11,663 | €7,478 | -€4,184 | -35.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €195 | €151 | -€45 | -22.9% |
| Recurring financial charges | 65 | €195 | €151 | -€45 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €11,468 | €7,328 | -€4,140 | -36.1% |
| Income taxes | 67/77 | €2,426 | €2,172 | -€254 | -10.5% |
| Profit (loss) for the period | 9904 | €9,041 | €5,156 | -€3,886 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,041 | €5,156 | -€3,886 | -43.0% |
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 15 October 2026 via checked.be.