AP Project: 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.
AP Project
Largest movements
- Receivables within one year +€8,639
up €8,639 (+59.0%), from €14,637 to €23,276
of which Trade receivables: +€4,487
- Tangible fixed assets -€3,843
down €3,843 (-51.0%), from €7,530 to €3,687
- Cash +€1,334
up €1,334 (+97.2%), from €1,372 to €2,706
mainly Net result for the year (+€14,646) and Tax, wage and social debts (+€6,185)
- Other debts -€15,765
down €15,765 (-88.5%), from €17,809 to €2,043
- Profit (loss) carried forward +€14,646
up €14,646 (+1,043%), from €1,405 to €16,051
- Tax, wage and social debts +€6,185
up €6,185 (+235%), from €2,633 to €8,818
- Trade debts +€1,064
up €1,064 (+89.2%), from €1,192 to €2,256
- Gross operating margin +€21,371
up €21,371 (+245%), from €8,706 to €30,077
- Taxes +€5,617
up €5,617 (+286%), from €1,965 to €7,583
- Financial charges +€1,979
up €1,979 (+172%), from €1,149 to €3,128
- Other operating charges -€1,196
down €1,196 (-31.0%), from €3,859 to €2,663
- Depreciation +€764
up €764 (+56.6%), from €1,349 to €2,113
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 | €23,539 | €29,669 | +€6,130 | +26.0% |
| Fixed assets | 21/28 | €7,530 | €3,687 | -€3,843 | -51.0% |
| Tangible fixed assets | 22/27 | €7,530 | €3,687 | -€3,843 | -51.0% |
| Furniture and vehicles | 24 | €7,530 | €3,687 | -€3,843 | -51.0% |
| Current assets | 29/58 | €16,009 | €25,982 | +€9,973 | +62.3% |
| Amounts receivable within one year | 40/41 | €14,637 | €23,276 | +€8,639 | +59.0% |
| Trade receivables | 40 | €13,612 | €18,099 | +€4,487 | +33.0% |
| Other amounts receivable | 41 | €1,025 | €5,177 | +€4,152 | +405% |
| Cash at bank and in hand | 54/58 | €1,372 | €2,706 | +€1,334 | +97.2% |
| Total equity and liabilities | 10/49 | €23,539 | €29,669 | +€6,130 | +26.0% |
| Equity | 10/15 | €1,905 | €16,551 | +€14,646 | +769% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,405 | €16,051 | +€14,646 | +1,043% |
| Amounts payable | 17/49 | €21,634 | €13,118 | -€8,517 | -39.4% |
| Amounts payable within one year | 42/48 | €21,634 | €13,118 | -€8,517 | -39.4% |
| Trade debts | 44 | €1,192 | €2,256 | +€1,064 | +89.2% |
| Suppliers | 440/4 | €1,192 | €2,256 | +€1,064 | +89.2% |
| Taxes, remuneration and social security | 45 | €2,633 | €8,818 | +€6,185 | +235% |
| Taxes | 450/3 | €2,633 | €8,818 | +€6,185 | +235% |
| Other amounts payable | 47/48 | €17,809 | €2,043 | -€15,765 | -88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,349 | €2,113 | +€764 | +56.6% |
| Other operating charges | 640/8 | €3,859 | €2,663 | -€1,196 | -31.0% |
| Gross operating margin | 9900 | €8,706 | €30,077 | +€21,371 | +245% |
| Operating profit (loss) | 9901 | €3,498 | €25,301 | +€21,803 | +623% |
| Financial income | 75/76B | - | €56 | +€56 | |
| Recurring financial income | 75 | - | €56 | +€56 | |
| Financial charges | 65/66B | €1,149 | €3,128 | +€1,979 | +172% |
| Recurring financial charges | 65 | €1,149 | €3,128 | +€1,979 | +172% |
| Profit (loss) for the period before taxes | 9903 | €2,349 | €22,229 | +€19,880 | +846% |
| Income taxes | 67/77 | €1,965 | €7,583 | +€5,617 | +286% |
| Profit (loss) for the period | 9904 | €383 | €14,646 | +€14,263 | +3,720% |
| Profit (loss) for the period to be appropriated | 9905 | €383 | €14,646 | +€14,263 | +3,720% |
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 21 October 2026 via checked.be.