Antwerp DC: 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 DC
Largest movements
- Tangible fixed assets -€157,547
down €157,547 (-3.6%), from €4.4m to €4.2m
of which Land and buildings: -€175,760
- Formation expenses +€53,178
new in 2025: €53,178
- Other debts +€2.7m
up €2.7m (+285%), from €934,611 to €3.6m
- Debts after one year -€2.3m
no longer reported in 2025 (was €2.3m)
- Current portion of long-term debt -€364,576
no longer reported in 2025 (was €364,576)
- Trade debts -€73,003
down €73,003 (-91.0%), from €80,261 to €7,258
- Financial charges +€35,577
up €35,577 (+33.1%), from €107,501 to €143,079
- Gross operating margin +€31,250
up €31,250 (+8.1%), from €386,838 to €418,088
- Write-downs +€12,070
up €12,070 (+65.8%), from €18,330 to €30,400
- Taxes -€7,726
down €7,726 (-78.8%), from €9,807 to €2,081
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,475,134 | €4,382,114 | -€93,019 | -2.1% |
| Formation expenses | 20 | - | €53,178 | +€53,178 | |
| Fixed assets | 21/28 | €4,396,456 | €4,238,909 | -€157,547 | -3.6% |
| Tangible fixed assets | 22/27 | €4,396,456 | €4,238,909 | -€157,547 | -3.6% |
| Land and buildings | 22 | €4,290,296 | €4,114,536 | -€175,760 | -4.1% |
| Plant, machinery and equipment | 23 | €50,576 | €40,851 | -€9,725 | -19.2% |
| Assets under construction and advance payments | 27 | €55,584 | €83,522 | +€27,938 | +50.3% |
| Current assets | 29/58 | €78,678 | €90,028 | +€11,350 | +14.4% |
| Amounts receivable within one year | 40/41 | €42,691 | €16,111 | -€26,580 | -62.3% |
| Trade receivables | 40 | €38,423 | €16,111 | -€22,312 | -58.1% |
| Other amounts receivable | 41 | €4,268 | - | -€4,268 | |
| Cash at bank and in hand | 54/58 | €33,348 | €69,329 | +€35,981 | +108% |
| Deferred charges and accrued income | 490/1 | €2,639 | €4,588 | +€1,949 | +73.8% |
| Total equity and liabilities | 10/49 | €4,475,134 | €4,382,114 | -€93,019 | -2.1% |
| Equity | 10/15 | €764,558 | €777,514 | +€12,956 | +1.7% |
| Contributions | 10/11 | €518,600 | €518,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €245,958 | €258,914 | +€12,956 | +5.3% |
| Amounts payable | 17/49 | €3,710,575 | €3,604,600 | -€105,975 | -2.9% |
| Amounts payable after more than one year | 17 | €2,275,321 | - | -€2.3m | |
| Financial debts | 170/4 | €2,275,321 | - | -€2.3m | |
| Amounts payable within one year | 42/48 | €1,392,086 | €3,604,600 | +€2.2m | +159% |
| Current portion of amounts payable after more than one year | 42 | €364,576 | - | -€364,576 | |
| Trade debts | 44 | €80,261 | €7,258 | -€73,003 | -91.0% |
| Suppliers | 440/4 | €80,261 | €7,258 | -€73,003 | -91.0% |
| Taxes, remuneration and social security | 45 | €12,638 | €3,264 | -€9,374 | -74.2% |
| Taxes | 450/3 | €12,638 | €3,264 | -€9,374 | -74.2% |
| Other amounts payable | 47/48 | €934,611 | €3,594,078 | +€2.7m | +285% |
| Accrued charges and deferred income | 492/3 | €43,169 | - | -€43,169 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,689 | €185,485 | -€1,204 | -0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €18,330 | €30,400 | +€12,070 | +65.8% |
| Other operating charges | 640/8 | €41,187 | €44,087 | +€2,900 | +7.0% |
| Gross operating margin | 9900 | €386,838 | €418,088 | +€31,250 | +8.1% |
| Operating profit (loss) | 9901 | €140,632 | €158,116 | +€17,484 | +12.4% |
| Financial income | 75/76B | €2,264 | - | -€2,264 | |
| Recurring financial income | 75 | €2,264 | - | -€2,264 | |
| Financial charges | 65/66B | €107,501 | €143,079 | +€35,577 | +33.1% |
| Recurring financial charges | 65 | €107,501 | €143,079 | +€35,577 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | €35,394 | €15,037 | -€20,357 | -57.5% |
| Income taxes | 67/77 | €9,807 | €2,081 | -€7,726 | -78.8% |
| Profit (loss) for the period | 9904 | €25,587 | €12,956 | -€12,631 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,587 | €12,956 | -€12,631 | -49.4% |
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 23 October 2026 via checked.be.