ANTWERP DATA ELECTRONIC SYSTEMS: 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.
What changed
ANTWERP DATA ELECTRONIC SYSTEMS
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€37,497
2024 · €63,676-€26,179
Equity
€407,903
2024 · €390,406+€17,497
Cash
€2,035
2024 · €2,840-€805
Balance sheet total
€462,952
2024 · €512,775-€49,822
Largest movements
Assets
- Receivables within one year -€41,408
down €41,408 (-15.1%), from €274,508 to €233,100
of which Trade receivables: -€29,299
- Deferred charges and accrued income -€6,025
down €6,025 (-25.2%), from €23,873 to €17,848
- Receivables after one year -€5,951
down €5,951 (-3.0%), from €200,406 to €194,454
Equity and liabilities
- Other debts -€50,000
no longer reported in 2025 (was €50,000)
- Profit (loss) carried forward +€17,497
up €17,497 (+5.4%), from €321,684 to €339,181
- Trade debts -€10,613
down €10,613 (-43.0%), from €24,704 to €14,091
Income statement
- Gross operating margin -€22,754
down €22,754 (-12.0%), from €189,003 to €166,249
- Write-downs -€6,213
no longer reported in 2025 (was €6,213)
- Staff costs +€5,760
up €5,760 (+5.2%), from €111,447 to €117,207
- Financial income -€3,496
down €3,496 (-17.0%), from €20,528 to €17,032
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
€63,676
Gross operating margin
-€22,754
Staff costs
-€5,760
Depreciation
-€151
Write-downs
+€6,213
Other operating charges
-€682
Financial income
-€3,496
Financial charges
+€161
Taxes
+€290
Result 2025
€37,497
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.
From operations
+€24,551
Investment
-€2,556
Financing
-€22,801
Cash 2024
€2,840
From operations (derived)
+€24,551
Net result for the year
+€37,497
Depreciation
+€1,313
Receivables after one year
+€5,951
Stocks and contracts
-€3,125
Receivables within one year
+€41,408
Deferred charges and accrued income
+€6,025
Trade debts
-€10,613
Tax, wage and social debts
-€3,564
Other debts
-€50,000
Accrued charges and deferred income
-€341
Investment (derived)
-€2,556
Investment in fixed assets (net)
-€2,556
Financing
-€22,801
Current portion of long-term debt
+€80
Short-term financial debts
-€2,882
Contributions, distributions and other
-€20,000
Cash 2025
€2,035
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €512,775 | €462,952 | -€49,822 | -9.7% |
| Fixed assets | 21/28 | €2,145 | €3,387 | +€1,242 | +57.9% |
| Tangible fixed assets | 22/27 | €2,145 | €3,387 | +€1,242 | +57.9% |
| Furniture and vehicles | 24 | €2,145 | €3,387 | +€1,242 | +57.9% |
| Current assets | 29/58 | €510,630 | €459,565 | -€51,065 | -10.0% |
| Amounts receivable after more than one year | 29 | €200,406 | €194,454 | -€5,951 | -3.0% |
| Other amounts receivable | 291 | €200,406 | €194,454 | -€5,951 | -3.0% |
| Stocks and contracts in progress | 3 | €9,004 | €12,129 | +€3,125 | +34.7% |
| Stocks | 30/36 | €9,004 | €12,129 | +€3,125 | +34.7% |
| Amounts receivable within one year | 40/41 | €274,508 | €233,100 | -€41,408 | -15.1% |
| Trade receivables | 40 | €83,674 | €54,375 | -€29,299 | -35.0% |
| Other amounts receivable | 41 | €190,834 | €178,725 | -€12,109 | -6.3% |
| Cash at bank and in hand | 54/58 | €2,840 | €2,035 | -€805 | -28.4% |
| Deferred charges and accrued income | 490/1 | €23,873 | €17,848 | -€6,025 | -25.2% |
| Total equity and liabilities | 10/49 | €512,775 | €462,952 | -€49,822 | -9.7% |
| Equity | 10/15 | €390,406 | €407,903 | +€17,497 | +4.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,722 | €6,722 | = | 0.0% |
| Distributable reserves | 133 | €6,722 | €6,722 | = | 0.0% |
| Profit (loss) carried forward | 14 | €321,684 | €339,181 | +€17,497 | +5.4% |
| Amounts payable | 17/49 | €122,369 | €55,049 | -€67,320 | -55.0% |
| Amounts payable within one year | 42/48 | €122,028 | €55,049 | -€66,979 | -54.9% |
| Current portion of amounts payable after more than one year | 42 | €4,767 | €4,847 | +€80 | +1.7% |
| Financial debts | 43 | €22,771 | €19,889 | -€2,882 | -12.7% |
| Credit institutions | 430/8 | €22,771 | €19,889 | -€2,882 | -12.7% |
| Trade debts | 44 | €24,704 | €14,091 | -€10,613 | -43.0% |
| Suppliers | 440/4 | €24,704 | €14,091 | -€10,613 | -43.0% |
| Taxes, remuneration and social security | 45 | €19,786 | €16,221 | -€3,564 | -18.0% |
| Taxes | 450/3 | €5,317 | €1,539 | -€3,778 | -71.1% |
| Remuneration and social security | 454/9 | €14,468 | €14,682 | +€214 | +1.5% |
| Other amounts payable | 47/48 | €50,000 | - | -€50,000 | |
| Accrued charges and deferred income | 492/3 | €341 | - | -€341 | |
| Non-recurring operating income | 76A | €992 | - | -€992 | |
| Remuneration, social security and pensions | 62 | €111,447 | €117,207 | +€5,760 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,162 | €1,313 | +€151 | +13.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,213 | - | -€6,213 | |
| Other operating charges | 640/8 | €587 | €1,268 | +€682 | +116.2% |
| Gross operating margin | 9900 | €189,003 | €166,249 | -€22,754 | -12.0% |
| Operating profit (loss) | 9901 | €69,594 | €46,461 | -€23,133 | -33.2% |
| Financial income | 75/76B | €20,528 | €17,032 | -€3,496 | -17.0% |
| Recurring financial income | 75 | €20,528 | €17,032 | -€3,496 | -17.0% |
| Financial charges | 65/66B | €9,636 | €9,476 | -€161 | -1.7% |
| Recurring financial charges | 65 | €9,636 | €9,476 | -€161 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €80,486 | €54,017 | -€26,469 | -32.9% |
| Income taxes | 67/77 | €16,809 | €16,520 | -€290 | -1.7% |
| Profit (loss) for the period | 9904 | €63,676 | €37,497 | -€26,179 | -41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €63,676 | €37,497 | -€26,179 | -41.1% |
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 5 October 2026 via checked.be.