WAPENHANDEL APPERMONT: 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.
What changed
WAPENHANDEL APPERMONT
NACE 47.631, Retail trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€111,039
2024 · €120,931-€9,892
Equity
€1.7m
2024 · €1.6m+€111,039
Cash
€126,138
2024 · €393,404-€267,266
Balance sheet total
€3.3m
2024 · €3.2m+€79,918
Largest movements
Assets
- Stocks and contracts +€306,750
up €306,750 (+12.6%), from €2.4m to €2.7m
- Cash -€267,266
down €267,266 (-67.9%), from €393,404 to €126,138
mainly Stocks and contracts (-€306,750) and Trade debts (-€146,924)
Equity and liabilities
- Trade debts -€146,924
down €146,924 (-33.1%), from €443,773 to €296,849
- Reserves +€111,039
up €111,039 (+7.1%), from €1.6m to €1.7m
of which Distributable reserves: +€111,039
- Short-term financial debts +€85,000
up €85,000 (+170%), from €50,000 to €135,000
of which Credit institutions: +€85,000
Income statement
- Write-downs +€34,247
new in 2025: €34,247
- Staff costs -€21,018
down €21,018 (-19.7%), from €106,776 to €85,758
- Gross operating margin -€19,779
down €19,779 (-5.6%), from €355,979 to €336,200
- Financial income +€17,545
up €17,545 (+557%), from €3,148 to €20,693
- Financial charges -€6,974
down €6,974 (-9.1%), from €76,246 to €69,271
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.
Result 2024
€120,931
Gross operating margin
-€19,779
Staff costs
+€21,018
Depreciation
-€4,130
Write-downs
-€34,247
Other operating charges
-€1,249
Financial income
+€17,545
Financial charges
+€6,974
Taxes
+€3,975
Result 2025
€111,039
raises the resultlowers the result
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.
From operations
-€310,235
Investment
-€70,191
Financing
+€113,160
Cash 2024
€393,404
From operations (derived)
-€310,235
Net result for the year
+€111,039
Depreciation
+€18,338
Stocks and contracts
-€306,750
Receivables within one year
+€13,903
Deferred charges and accrued income
-€2,484
Trade debts
-€146,924
Tax, wage and social debts
-€4,031
Other debts
+€12,395
Accrued charges and deferred income
-€5,722
Investment (derived)
-€70,191
Investment in fixed assets (net)
-€70,191
Financing
+€113,160
Debts after one year
+€22,279
Current portion of long-term debt
+€5,881
Short-term financial debts
+€85,000
Cash 2025
€126,138
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,196,651 | €3,276,569 | +€79,918 | +2.5% |
| Fixed assets | 21/28 | €49,509 | €101,362 | +€51,853 | +105% |
| Intangible fixed assets | 21 | - | €25,197 | +€25,197 | |
| Tangible fixed assets | 22/27 | €49,259 | €75,915 | +€26,656 | +54.1% |
| Plant, machinery and equipment | 23 | €32,789 | €50,822 | +€18,033 | +55.0% |
| Furniture and vehicles | 24 | €16,470 | €25,093 | +€8,624 | +52.4% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €3,147,142 | €3,175,207 | +€28,065 | +0.9% |
| Stocks and contracts in progress | 3 | €2,426,435 | €2,733,185 | +€306,750 | +12.6% |
| Stocks | 30/36 | €2,426,435 | €2,733,185 | +€306,750 | +12.6% |
| Amounts receivable within one year | 40/41 | €321,909 | €308,007 | -€13,903 | -4.3% |
| Trade receivables | 40 | €281,527 | €275,883 | -€5,645 | -2.0% |
| Other amounts receivable | 41 | €40,382 | €32,124 | -€8,258 | -20.4% |
| Cash at bank and in hand | 54/58 | €393,404 | €126,138 | -€267,266 | -67.9% |
| Deferred charges and accrued income | 490/1 | €5,394 | €7,878 | +€2,484 | +46.0% |
| Total equity and liabilities | 10/49 | €3,196,651 | €3,276,569 | +€79,918 | +2.5% |
| Equity | 10/15 | €1,631,439 | €1,742,479 | +€111,039 | +6.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,569,439 | €1,680,479 | +€111,039 | +7.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,920 | €32,920 | = | 0.0% |
| Distributable reserves | 133 | €1,530,320 | €1,641,359 | +€111,039 | +7.3% |
| Amounts payable | 17/49 | €1,565,212 | €1,534,091 | -€31,121 | -2.0% |
| Amounts payable after more than one year | 17 | €900,000 | €922,279 | +€22,279 | +2.5% |
| Financial debts | 170/4 | - | €22,279 | +€22,279 | |
| Other amounts payable | 178/9 | €900,000 | €900,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €614,686 | €567,007 | -€47,679 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | - | €5,881 | +€5,881 | |
| Financial debts | 43 | €50,000 | €135,000 | +€85,000 | +170% |
| Credit institutions | 430/8 | - | €85,000 | +€85,000 | |
| Other loans | 439 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €443,773 | €296,849 | -€146,924 | -33.1% |
| Suppliers | 440/4 | €443,773 | €296,849 | -€146,924 | -33.1% |
| Taxes, remuneration and social security | 45 | €68,639 | €64,608 | -€4,031 | -5.9% |
| Taxes | 450/3 | €51,171 | €52,005 | +€834 | +1.6% |
| Remuneration and social security | 454/9 | €17,468 | €12,603 | -€4,865 | -27.9% |
| Other amounts payable | 47/48 | €52,275 | €64,670 | +€12,395 | +23.7% |
| Accrued charges and deferred income | 492/3 | €50,526 | €44,804 | -€5,722 | -11.3% |
| Remuneration, social security and pensions | 62 | €106,776 | €85,758 | -€21,018 | -19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,208 | €18,338 | +€4,130 | +29.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €34,247 | +€34,247 | |
| Other operating charges | 640/8 | €3,680 | €4,929 | +€1,249 | +33.9% |
| Gross operating margin | 9900 | €355,979 | €336,200 | -€19,779 | -5.6% |
| Operating profit (loss) | 9901 | €231,314 | €192,927 | -€38,387 | -16.6% |
| Financial income | 75/76B | €3,148 | €20,693 | +€17,545 | +557% |
| Recurring financial income | 75 | €3,148 | €20,693 | +€17,545 | +557% |
| Financial charges | 65/66B | €76,246 | €69,271 | -€6,974 | -9.1% |
| Recurring financial charges | 65 | €76,246 | €69,271 | -€6,974 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €158,216 | €144,349 | -€13,867 | -8.8% |
| Income taxes | 67/77 | €37,285 | €33,310 | -€3,975 | -10.7% |
| Profit (loss) for the period | 9904 | €120,931 | €111,039 | -€9,892 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €120,931 | €111,039 | -€9,892 | -8.2% |
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 25 October 2026 via checked.be.