Appgrade: what changed
Appgrade
Largest movements
- Receivables within one year -€36,138
down €36,138 (-97.7%), from €36,999 to €861
of which Trade receivables: -€35,151
- Cash +€27,116
up €27,116 (+19.1%), from €141,790 to €168,906
mainly Net result for the year (+€78,892) and Receivables within one year (+€36,138)
- Current investments -€26,557
down €26,557 (-29.5%), from €89,956 to €63,399
- Deferred charges and accrued income +€6,139
up €6,139 (+185%), from €3,320 to €9,459
- Tangible fixed assets -€4,756
down €4,756 (-13.5%), from €35,244 to €30,489
of which Furniture and vehicles: -€5,369
- Profit (loss) carried forward -€38,755
down €38,755 (-20.3%), from €190,495 to €151,740
- Trade debts +€12,663
up €12,663 (+176%), from €7,182 to €19,845
- Other debts -€11,525
down €11,525 (-16.3%), from €70,588 to €59,063
- Gross operating margin +€52,847
up €52,847 (+27.5%), from €192,170 to €245,017
- Staff costs +€27,141
up €27,141 (+25.9%), from €104,662 to €131,803
- Taxes +€4,000
up €4,000 (+20.4%), from €19,651 to €23,651
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €314,838 | €279,613 | -€35,225 | -11.2% |
| Fixed assets | 21/28 | €35,244 | €30,489 | -€4,756 | -13.5% |
| Tangible fixed assets | 22/27 | €35,244 | €30,489 | -€4,756 | -13.5% |
| Furniture and vehicles | 24 | €11,573 | €6,204 | -€5,369 | -46.4% |
| Other tangible fixed assets | 26 | €23,671 | €24,285 | +€614 | +2.6% |
| Current assets | 29/58 | €279,594 | €249,124 | -€30,470 | -10.9% |
| Amounts receivable after more than one year | 29 | €7,529 | €6,499 | -€1,031 | -13.7% |
| Other amounts receivable | 291 | €7,529 | €6,499 | -€1,031 | -13.7% |
| Amounts receivable within one year | 40/41 | €36,999 | €861 | -€36,138 | -97.7% |
| Trade receivables | 40 | €35,151 | - | -€35,151 | |
| Other amounts receivable | 41 | €1,849 | €861 | -€987 | -53.4% |
| Current investments | 50/53 | €89,956 | €63,399 | -€26,557 | -29.5% |
| Cash at bank and in hand | 54/58 | €141,790 | €168,906 | +€27,116 | +19.1% |
| Deferred charges and accrued income | 490/1 | €3,320 | €9,459 | +€6,139 | +185% |
| Total equity and liabilities | 10/49 | €314,838 | €279,613 | -€35,225 | -11.2% |
| Equity | 10/15 | €210,900 | €172,145 | -€38,755 | -18.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €190,495 | €151,740 | -€38,755 | -20.3% |
| Amounts payable | 17/49 | €103,938 | €107,468 | +€3,530 | +3.4% |
| Amounts payable within one year | 42/48 | €103,938 | €107,468 | +€3,530 | +3.4% |
| Financial debts | 43 | €124 | - | -€124 | |
| Credit institutions | 430/8 | €124 | - | -€124 | |
| Trade debts | 44 | €7,182 | €19,845 | +€12,663 | +176% |
| Suppliers | 440/4 | €7,182 | €19,845 | +€12,663 | +176% |
| Taxes, remuneration and social security | 45 | €26,044 | €28,559 | +€2,515 | +9.7% |
| Taxes | 450/3 | €25,983 | €27,802 | +€1,819 | +7.0% |
| Remuneration and social security | 454/9 | €61 | €757 | +€696 | +1,139% |
| Other amounts payable | 47/48 | €70,588 | €59,063 | -€11,525 | -16.3% |
| Remuneration, social security and pensions | 62 | €104,662 | €131,803 | +€27,141 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,421 | €9,881 | +€1,460 | +17.3% |
| Other operating charges | 640/8 | €594 | €754 | +€160 | +27.0% |
| Gross operating margin | 9900 | €192,170 | €245,017 | +€52,847 | +27.5% |
| Operating profit (loss) | 9901 | €78,493 | €102,579 | +€24,086 | +30.7% |
| Financial income | 75/76B | €308 | €852 | +€545 | +177% |
| Recurring financial income | 75 | €308 | €852 | +€545 | +177% |
| Financial charges | 65/66B | €761 | €888 | +€127 | +16.7% |
| Recurring financial charges | 65 | €761 | €888 | +€127 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €78,040 | €102,543 | +€24,503 | +31.4% |
| Income taxes | 67/77 | €19,651 | €23,651 | +€4,000 | +20.4% |
| Profit (loss) for the period | 9904 | €58,389 | €78,892 | +€20,503 | +35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €58,389 | €78,892 | +€20,503 | +35.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.