ANTWERP DIGITAL SYSTEMS: 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 DIGITAL SYSTEMS
Largest movements
- Cash -€21,423
down €21,423 (-49.6%), from €43,190 to €21,767
mainly Contributions, distributions and other (-€71,057) and Investment in fixed assets (net) (-€32,796)
- Receivables within one year -€12,223
down €12,223 (-14.0%), from €87,617 to €75,394
of which Trade receivables: -€34,543
- Current investments +€10,017
new in 2025: €10,017
- Tangible fixed assets +€9,762
up €9,762 (+17.7%), from €55,057 to €64,819
of which Leasing and similar rights: +€7,845
- Stocks and contracts -€8,435
down €8,435 (-100%), from €8,435 to €0
- Reserves -€35,293
down €35,293 (-40.2%), from €87,877 to €52,584
- Other debts +€34,399
up €34,399 (+2,097%), from €1,640 to €36,039
- Trade debts -€24,384
down €24,384 (-81.1%), from €30,081 to €5,696
- Current portion of long-term debt +€5,828
up €5,828 (+31.1%), from €18,724 to €24,552
- Tax, wage and social debts -€3,455
down €3,455 (-17.8%), from €19,406 to €15,952
of which Taxes: -€5,360
- Gross operating margin +€30,129
up €30,129 (+19.1%), from €158,084 to €188,213
- Staff costs +€28,907
up €28,907 (+34.2%), from €84,542 to €113,449
- Depreciation +€3,117
up €3,117 (+15.9%), from €19,647 to €22,764
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 | €196,153 | €174,542 | -€21,610 | -11.0% |
| Fixed assets | 21/28 | €55,057 | €65,089 | +€10,032 | +18.2% |
| Tangible fixed assets | 22/27 | €55,057 | €64,819 | +€9,762 | +17.7% |
| Plant, machinery and equipment | 23 | €213 | €0 | -€213 | -100% |
| Furniture and vehicles | 24 | €1,493 | €3,623 | +€2,130 | +143% |
| Leasing and similar rights | 25 | €53,351 | €61,196 | +€7,845 | +14.7% |
| Financial fixed assets | 28 | - | €270 | +€270 | |
| Current assets | 29/58 | €141,096 | €109,453 | -€31,642 | -22.4% |
| Stocks and contracts in progress | 3 | €8,435 | €0 | -€8,435 | -100% |
| Stocks | 30/36 | €8,435 | €0 | -€8,435 | -100% |
| Amounts receivable within one year | 40/41 | €87,617 | €75,394 | -€12,223 | -14.0% |
| Trade receivables | 40 | €82,687 | €48,144 | -€34,543 | -41.8% |
| Other amounts receivable | 41 | €4,930 | €27,250 | +€22,320 | +453% |
| Current investments | 50/53 | - | €10,017 | +€10,017 | |
| Cash at bank and in hand | 54/58 | €43,190 | €21,767 | -€21,423 | -49.6% |
| Deferred charges and accrued income | 490/1 | €1,854 | €2,276 | +€422 | +22.8% |
| Total equity and liabilities | 10/49 | €196,153 | €174,542 | -€21,610 | -11.0% |
| Equity | 10/15 | €89,377 | €54,084 | -€35,293 | -39.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €87,877 | €52,584 | -€35,293 | -40.2% |
| Distributable reserves | 133 | €87,877 | €52,584 | -€35,293 | -40.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €106,776 | €120,459 | +€13,683 | +12.8% |
| Amounts payable after more than one year | 17 | €36,549 | €38,191 | +€1,642 | +4.5% |
| Financial debts | 170/4 | €36,549 | €38,191 | +€1,642 | +4.5% |
| Amounts payable within one year | 42/48 | €69,851 | €82,268 | +€12,416 | +17.8% |
| Current portion of amounts payable after more than one year | 42 | €18,724 | €24,552 | +€5,828 | +31.1% |
| Financial debts | 43 | - | €28 | +€28 | |
| Credit institutions | 430/8 | - | €28 | +€28 | |
| Trade debts | 44 | €30,081 | €5,696 | -€24,384 | -81.1% |
| Suppliers | 440/4 | €30,081 | €5,696 | -€24,384 | -81.1% |
| Taxes, remuneration and social security | 45 | €19,406 | €15,952 | -€3,455 | -17.8% |
| Taxes | 450/3 | €6,039 | €679 | -€5,360 | -88.8% |
| Remuneration and social security | 454/9 | €13,367 | €15,273 | +€1,906 | +14.3% |
| Other amounts payable | 47/48 | €1,640 | €36,039 | +€34,399 | +2,097% |
| Accrued charges and deferred income | 492/3 | €375 | €0 | -€375 | -100% |
| Remuneration, social security and pensions | 62 | €84,542 | €113,449 | +€28,907 | +34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,647 | €22,764 | +€3,117 | +15.9% |
| Other operating charges | 640/8 | €3,651 | €2,757 | -€894 | -24.5% |
| Gross operating margin | 9900 | €158,084 | €188,213 | +€30,129 | +19.1% |
| Operating profit (loss) | 9901 | €50,244 | €49,243 | -€1,001 | -2.0% |
| Financial income | 75/76B | €309 | €707 | +€398 | +129% |
| Recurring financial income | 75 | €309 | €707 | +€398 | +129% |
| Financial charges | 65/66B | €4,220 | €3,483 | -€737 | -17.5% |
| Recurring financial charges | 65 | €4,220 | €3,483 | -€737 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €46,333 | €46,467 | +€134 | +0.3% |
| Income taxes | 67/77 | €11,039 | €10,703 | -€336 | -3.0% |
| Profit (loss) for the period | 9904 | €35,293 | €35,764 | +€470 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,293 | €35,764 | +€470 | +1.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.