ANTWERP CITY EXPRESS: 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.
ANTWERP CITY EXPRESS
Largest movements
- Tangible fixed assets -€23,132
down €23,132 (-7.0%), from €332,052 to €308,920
of which Furniture and vehicles: -€15,223
- Cash -€8,492
down €8,492 (-16.7%), from €50,950 to €42,458
mainly Contributions, distributions and other (-€34,137) and Debts after one year (-€21,926)
- Debts after one year -€21,926
down €21,926 (-8.8%), from €250,170 to €228,244
- Tax, wage and social debts +€18,361
up €18,361 (+136%), from €13,518 to €31,879
of which Remuneration and social security: +€10,424
- Trade debts -€16,929
down €16,929 (-37.2%), from €45,456 to €28,526
- Reserves -€9,031
down €9,031 (-11.2%), from €80,838 to €71,807
- Gross operating margin +€31,810
up €31,810 (+27.7%), from €114,746 to €146,556
- Staff costs +€15,303
up €15,303 (+28.5%), from €53,641 to €68,944
- Taxes +€5,661
up €5,661 (+68.7%), from €8,245 to €13,905
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 | €448,736 | €419,298 | -€29,438 | -6.6% |
| Fixed assets | 21/28 | €334,185 | €312,420 | -€21,765 | -6.5% |
| Tangible fixed assets | 22/27 | €332,052 | €308,920 | -€23,132 | -7.0% |
| Land and buildings | 22 | €267,464 | €261,304 | -€6,160 | -2.3% |
| Plant, machinery and equipment | 23 | €3,738 | €1,989 | -€1,749 | -46.8% |
| Furniture and vehicles | 24 | €60,849 | €45,626 | -€15,223 | -25.0% |
| Financial fixed assets | 28 | €2,133 | €3,500 | +€1,367 | +64.1% |
| Current assets | 29/58 | €114,551 | €106,878 | -€7,673 | -6.7% |
| Amounts receivable within one year | 40/41 | €63,601 | €63,820 | +€219 | +0.3% |
| Trade receivables | 40 | €63,601 | €63,820 | +€219 | +0.3% |
| Cash at bank and in hand | 54/58 | €50,950 | €42,458 | -€8,492 | -16.7% |
| Deferred charges and accrued income | 490/1 | - | €600 | +€600 | |
| Total equity and liabilities | 10/49 | €448,736 | €419,298 | -€29,438 | -6.6% |
| Equity | 10/15 | €105,627 | €96,596 | -€9,031 | -8.6% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €80,838 | €71,807 | -€9,031 | -11.2% |
| Distributable reserves | 133 | €80,838 | €71,807 | -€9,031 | -11.2% |
| Amounts payable | 17/49 | €343,108 | €322,702 | -€20,407 | -5.9% |
| Amounts payable after more than one year | 17 | €250,170 | €228,244 | -€21,926 | -8.8% |
| Financial debts | 170/4 | €250,170 | €228,244 | -€21,926 | -8.8% |
| Amounts payable within one year | 42/48 | €91,213 | €93,418 | +€2,205 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €20,908 | €21,926 | +€1,018 | +4.9% |
| Financial debts | 43 | €5,018 | €6,000 | +€982 | +19.6% |
| Other loans | 439 | €5,018 | €6,000 | +€982 | +19.6% |
| Trade debts | 44 | €45,456 | €28,526 | -€16,929 | -37.2% |
| Suppliers | 440/4 | €45,456 | €28,526 | -€16,929 | -37.2% |
| Taxes, remuneration and social security | 45 | €13,518 | €31,879 | +€18,361 | +136% |
| Taxes | 450/3 | €11,966 | €19,903 | +€7,937 | +66.3% |
| Remuneration and social security | 454/9 | €1,552 | €11,976 | +€10,424 | +672% |
| Other amounts payable | 47/48 | €6,314 | €5,087 | -€1,227 | -19.4% |
| Accrued charges and deferred income | 492/3 | €1,725 | €1,040 | -€685 | -39.7% |
| Remuneration, social security and pensions | 62 | €53,641 | €68,944 | +€15,303 | +28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,578 | €23,132 | -€446 | -1.9% |
| Other operating charges | 640/8 | €3,609 | €3,020 | -€589 | -16.3% |
| Non-recurring operating charges | 66A | - | €200 | +€200 | |
| Gross operating margin | 9900 | €114,746 | €146,556 | +€31,810 | +27.7% |
| Operating profit (loss) | 9901 | €33,919 | €51,260 | +€17,341 | +51.1% |
| Financial income | 75/76B | €80 | €84 | +€4 | +4.6% |
| Recurring financial income | 75 | €80 | €84 | +€4 | +4.6% |
| Financial charges | 65/66B | €13,353 | €12,333 | -€1,020 | -7.6% |
| Recurring financial charges | 65 | €13,353 | €12,333 | -€1,020 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €20,646 | €39,011 | +€18,365 | +89.0% |
| Income taxes | 67/77 | €8,245 | €13,905 | +€5,661 | +68.7% |
| Profit (loss) for the period | 9904 | €12,402 | €25,106 | +€12,704 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €12,402 | €25,106 | +€12,704 | +102% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.