THEAPI: what changed
Two fiscal 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.
THEAPI
Largest movements
- Cash -€40,058
down €40,058 (-79.6%), from €50,354 to €10,295
mainly Contributions, distributions and other (-€72,482) and Receivables within one year (-€5,631)
- Receivables within one year +€5,631
up €5,631 (+54.8%), from €10,268 to €15,899
of which Other amounts receivable: +€5,598
- Tangible fixed assets -€1,463
down €1,463 (-17.8%), from €8,236 to €6,773
of which Plant, machinery and equipment: -€810
- Deferred charges and accrued income -€872
no longer reported in 2025 (was €872)
- Profit (loss) carried forward -€48,379
down €48,379 (-90.5%), from €53,482 to €5,103
- Tax, wage and social debts +€4,111
up €4,111 (+32.3%), from €12,722 to €16,833
of which Remuneration and social security: +€4,313
- Other debts +€3,969
up €3,969 (+12598.4%), from €32 to €4,000
- Trade debts +€3,537
up €3,537 (+236.7%), from €1,494 to €5,031
- Depreciation +€740
up €740 (+102.2%), from €724 to €1,463
- Financial income +€677
new in 2025: €677
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 | €69,729 | €32,967 | -€36,762 | -52.7% |
| Fixed assets | 21/28 | €8,236 | €6,773 | -€1,463 | -17.8% |
| Tangible fixed assets | 22/27 | €8,236 | €6,773 | -€1,463 | -17.8% |
| Plant, machinery and equipment | 23 | €1,997 | €1,187 | -€810 | -40.6% |
| Furniture and vehicles | 24 | €6,239 | €5,586 | -€653 | -10.5% |
| Current assets | 29/58 | €61,493 | €26,194 | -€35,299 | -57.4% |
| Amounts receivable within one year | 40/41 | €10,268 | €15,899 | +€5,631 | +54.8% |
| Trade receivables | 40 | €10,268 | €10,301 | +€32 | +0.3% |
| Other amounts receivable | 41 | - | €5,598 | +€5,598 | |
| Cash at bank and in hand | 54/58 | €50,354 | €10,295 | -€40,058 | -79.6% |
| Deferred charges and accrued income | 490/1 | €872 | - | -€872 | |
| Total equity and liabilities | 10/49 | €69,729 | €32,967 | -€36,762 | -52.7% |
| Equity | 10/15 | €55,482 | €7,103 | -€48,379 | -87.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,482 | €5,103 | -€48,379 | -90.5% |
| Amounts payable | 17/49 | €14,248 | €25,864 | +€11,616 | +81.5% |
| Amounts payable within one year | 42/48 | €14,248 | €25,864 | +€11,616 | +81.5% |
| Trade debts | 44 | €1,494 | €5,031 | +€3,537 | +236.7% |
| Suppliers | 440/4 | €1,494 | €5,031 | +€3,537 | +236.7% |
| Taxes, remuneration and social security | 45 | €12,722 | €16,833 | +€4,111 | +32.3% |
| Taxes | 450/3 | €12,722 | €12,520 | -€202 | -1.6% |
| Remuneration and social security | 454/9 | - | €4,313 | +€4,313 | |
| Other amounts payable | 47/48 | €32 | €4,000 | +€3,969 | +12598.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €724 | €1,463 | +€740 | +102.2% |
| Gross operating margin | 9900 | €32,665 | €32,360 | -€306 | -0.9% |
| Operating profit (loss) | 9901 | €31,942 | €30,897 | -€1,045 | -3.3% |
| Financial income | 75/76B | - | €677 | +€677 | |
| Recurring financial income | 75 | - | €677 | +€677 | |
| Financial charges | 65/66B | €166 | €124 | -€42 | -25.5% |
| Recurring financial charges | 65 | €130 | €124 | -€6 | -4.6% |
| Non-recurring financial charges | 66B | €36 | - | -€36 | |
| Profit (loss) for the period before taxes | 9903 | €31,776 | €31,450 | -€326 | -1.0% |
| Income taxes | 67/77 | €7,463 | €7,347 | -€116 | -1.5% |
| Profit (loss) for the period | 9904 | €24,313 | €24,103 | -€210 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,313 | €24,103 | -€210 | -0.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.