Antwerp Engineering Company: what changed
What changed
Antwerp Engineering Company
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
not consecutivefiled annual accounts (NBB)
Net result for the year
€13,985
2024 · €52,409-€38,424
Equity
€221,450
2024 · €207,464+€13,986
Cash
€39,456
2024 · €105,318-€65,863
Balance sheet total
€20.8m
2024 · €11.9m+€8.9m
Largest movements
Assets
- Stocks and contracts +€5.2m
up €5.2m (+61.3%), from €8.5m to €13.8m
- Tangible fixed assets +€1.9m
up €1.9m (+135%), from €1.4m to €3.3m
of which Assets under construction and advance payments: +€2.0m
- Receivables within one year +€1.8m
up €1.8m (+101%), from €1.8m to €3.7m
of which Other amounts receivable: +€2.2m
Equity and liabilities
- Short-term financial debts +€6.6m
up €6.6m (+563%), from €1.2m to €7.8m
- Other debts +€1.3m
up €1.3m (+478%), from €268,747 to €1.6m
- Trade debts +€866,819
up €866,819 (+155%), from €558,068 to €1.4m
- Accrued charges and deferred income +€376,015
up €376,015 (+8,421%), from €4,465 to €380,480
- Debts after one year -€240,035
down €240,035 (-2.6%), from €9.4m to €9.2m
of which Financial debts: -€235,923
Income statement
- Gross operating margin +€481,127
up €481,127 (+233%), from €206,501 to €687,628
- Financial charges +€465,576
up €465,576 (+787%), from €59,124 to €524,700
- Other operating charges +€46,659
up €46,659 (+112%), from €41,590 to €88,248
- Depreciation +€7,588
up €7,588 (+12.8%), from €59,074 to €66,662
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€52,409
Gross operating margin
+€481,127
Depreciation
-€7,588
Other operating charges
-€46,659
Financial income
-€878
Financial charges
-€465,576
Taxes
-€30
Deferred taxes and other
+€1,180
Result 2025
€13,985
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,901,659 | €20,811,677 | +€8.9m | +74.9% |
| Fixed assets | 21/28 | €1,401,588 | €3,299,334 | +€1.9m | +135% |
| Tangible fixed assets | 22/27 | €1,401,588 | €3,299,334 | +€1.9m | +135% |
| Land and buildings | 22 | €1,149,807 | €1,090,321 | -€59,486 | -5.2% |
| Plant, machinery and equipment | 23 | €13,631 | €12,445 | -€1,185 | -8.7% |
| Assets under construction and advance payments | 27 | €238,150 | €2,196,568 | +€2.0m | +822% |
| Current assets | 29/58 | €10,500,071 | €17,512,342 | +€7.0m | +66.8% |
| Stocks and contracts in progress | 3 | €8,547,171 | €13,782,650 | +€5.2m | +61.3% |
| Stocks | 30/36 | €8,547,171 | €13,782,650 | +€5.2m | +61.3% |
| Amounts receivable within one year | 40/41 | €1,817,581 | €3,660,236 | +€1.8m | +101% |
| Trade receivables | 40 | €387,395 | - | -€387,395 | |
| Other amounts receivable | 41 | €1,430,186 | €3,660,236 | +€2.2m | +156% |
| Cash at bank and in hand | 54/58 | €105,318 | €39,456 | -€65,863 | -62.5% |
| Deferred charges and accrued income | 490/1 | €30,000 | €30,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €11,901,659 | €20,811,677 | +€8.9m | +74.9% |
| Equity | 10/15 | €207,464 | €221,450 | +€13,986 | +6.7% |
| Contributions | 10/11 | €84,618 | €84,618 | = | 0.0% |
| Capital | 10 | €84,618 | €84,618 | = | 0.0% |
| Issued capital | 100 | €84,618 | €84,618 | = | 0.0% |
| Reserves | 13 | €295,255 | €277,562 | -€17,693 | -6.0% |
| Non-distributable reserves | 130/1 | €8,462 | €8,462 | = | 0.0% |
| Legal reserve | 130 | €8,462 | €8,462 | = | 0.0% |
| Tax-exempt reserves | 132 | €193,406 | €175,713 | -€17,693 | -9.1% |
| Distributable reserves | 133 | €93,387 | €93,387 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€172,408 | -€140,729 | +€31,679 | +18.4% |
| Provisions and deferred taxes | 16 | €64,439 | €58,541 | -€5,898 | -9.2% |
| Deferred taxes | 168 | €64,439 | €58,541 | -€5,898 | -9.2% |
| Amounts payable | 17/49 | €11,629,756 | €20,531,686 | +€8.9m | +76.5% |
| Amounts payable after more than one year | 17 | €9,408,029 | €9,167,995 | -€240,035 | -2.6% |
| Financial debts | 170/4 | €9,343,499 | €9,107,577 | -€235,923 | -2.5% |
| Other amounts payable | 178/9 | €64,530 | €60,418 | -€4,112 | -6.4% |
| Amounts payable within one year | 42/48 | €2,217,261 | €10,983,211 | +€8.8m | +395% |
| Current portion of amounts payable after more than one year | 42 | €214,858 | €176,298 | -€38,560 | -17.9% |
| Financial debts | 43 | €1,175,000 | €7,791,816 | +€6.6m | +563% |
| Credit institutions | 430/8 | €1,175,000 | €7,791,816 | +€6.6m | +563% |
| Trade debts | 44 | €558,068 | €1,424,887 | +€866,819 | +155% |
| Suppliers | 440/4 | €558,068 | €1,424,887 | +€866,819 | +155% |
| Taxes, remuneration and social security | 45 | €589 | €36,663 | +€36,074 | +6,123% |
| Taxes | 450/3 | €589 | €36,663 | +€36,074 | +6,123% |
| Other amounts payable | 47/48 | €268,747 | €1,553,547 | +€1.3m | +478% |
| Accrued charges and deferred income | 492/3 | €4,465 | €380,480 | +€376,015 | +8,421% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,074 | €66,662 | +€7,588 | +12.8% |
| Other operating charges | 640/8 | €41,590 | €88,248 | +€46,659 | +112% |
| Gross operating margin | 9900 | €206,501 | €687,628 | +€481,127 | +233% |
| Operating profit (loss) | 9901 | €105,838 | €532,718 | +€426,881 | +403% |
| Financial income | 75/76B | €978 | €99 | -€878 | -89.9% |
| Recurring financial income | 75 | €978 | €99 | -€878 | -89.9% |
| Financial charges | 65/66B | €59,124 | €524,700 | +€465,576 | +787% |
| Recurring financial charges | 65 | €59,124 | €524,700 | +€465,576 | +787% |
| Profit (loss) for the period before taxes | 9903 | €47,691 | €8,117 | -€39,574 | -83.0% |
| Transfer from deferred taxes | 780 | €4,718 | €5,898 | +€1,180 | +25.0% |
| Income taxes | 67/77 | - | €30 | +€30 | |
| Profit (loss) for the period | 9904 | €52,409 | €13,985 | -€38,424 | -73.3% |
| Transfer from tax-exempt reserves | 789 | €14,155 | €17,693 | +€3,539 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €66,563 | €31,679 | -€34,885 | -52.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.