ANTWERP GLOBAL SHIPPING: what changed
What changed
ANTWERP GLOBAL SHIPPING
NACE 52.250, Logistics services
filed annual accounts (NBB)
Net result for the year
€179,285
2024 · €1.1m-€941,190
Equity
€2.4m
2024 · €2.2m+€179,285
Cash
€1.8m
2024 · €902,606+€863,383
Balance sheet total
€3.2m
2024 · €4.1m-€931,247
Largest movements
Assets
- Receivables within one year -€1.9m
down €1.9m (-63.3%), from €3.1m to €1.1m
of which Trade receivables: -€2.0m
- Cash +€863,383
up €863,383 (+95.7%), from €902,606 to €1.8m
mainly Receivables within one year (+€1.9m) and Net result for the year (+€179,285)
- Stocks and contracts +€172,541
new in 2025: €172,541
Equity and liabilities
- Trade debts -€1.1m
down €1.1m (-64.7%), from €1.7m to €607,379
- Reserves +€179,285
up €179,285 (+8.5%), from €2.1m to €2.3m
of which Distributable reserves: +€179,285
Income statement
- Gross operating margin -€1.3m
down €1.3m (-53.1%), from €2.4m to €1.1m
- Taxes -€328,721
down €328,721 (-82.2%), from €399,995 to €71,273
- Staff costs -€99,193
down €99,193 (-11.4%), from €870,852 to €771,659
- Write-downs +€54,134
new in 2025: €54,134
- Financial income -€31,515
down €31,515 (-63.4%), from €49,726 to €18,211
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
€1.1m
Gross operating margin
-€1.3m
Staff costs
+€99,193
Depreciation
-€7,576
Write-downs
-€54,134
Other operating charges
-€346
Other operating items
-€2,713
Financial income
-€31,515
Financial charges
-€6,915
Taxes
+€328,721
Result 2025
€179,285
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€871,201
Investment
+€4,086
Financing
-€11,904
Cash 2024
€902,606
From operations (derived)
+€871,201
Net result for the year
+€179,285
Depreciation
+€29,382
Stocks and contracts
-€172,541
Receivables within one year
+€1.9m
Trade debts
-€1.1m
Tax, wage and social debts
+€7,822
Other debts
+€6,229
Investment (derived)
+€4,086
Investment in fixed assets (net)
+€4,086
Financing
-€11,904
Debts after one year
-€6,952
Current portion of long-term debt
-€4,952
Cash 2025
€1.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,134,838 | €3,203,592 | -€931,247 | -22.5% |
| Fixed assets | 21/28 | €175,566 | €142,098 | -€33,468 | -19.1% |
| Tangible fixed assets | 22/27 | €174,186 | €140,718 | -€33,468 | -19.2% |
| Plant, machinery and equipment | 23 | €13,528 | €12,006 | -€1,522 | -11.2% |
| Furniture and vehicles | 24 | €52,407 | €32,165 | -€20,242 | -38.6% |
| Other tangible fixed assets | 26 | €108,251 | €96,547 | -€11,705 | -10.8% |
| Financial fixed assets | 28 | €1,380 | €1,380 | = | 0.0% |
| Current assets | 29/58 | €3,959,272 | €3,061,494 | -€897,778 | -22.7% |
| Stocks and contracts in progress | 3 | - | €172,541 | +€172,541 | |
| Contracts in progress | 37 | - | €172,541 | +€172,541 | |
| Amounts receivable within one year | 40/41 | €3,056,667 | €1,122,965 | -€1.9m | -63.3% |
| Trade receivables | 40 | €2,978,697 | €986,850 | -€2.0m | -66.9% |
| Other amounts receivable | 41 | €77,970 | €136,115 | +€58,145 | +74.6% |
| Cash at bank and in hand | 54/58 | €902,606 | €1,765,988 | +€863,383 | +95.7% |
| Total equity and liabilities | 10/49 | €4,134,838 | €3,203,592 | -€931,247 | -22.5% |
| Equity | 10/15 | €2,172,120 | €2,351,405 | +€179,285 | +8.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,110,120 | €2,289,405 | +€179,285 | +8.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €2,103,920 | €2,283,205 | +€179,285 | +8.5% |
| Amounts payable | 17/49 | €1,962,718 | €852,186 | -€1.1m | -56.6% |
| Amounts payable after more than one year | 17 | €6,952 | - | -€6,952 | |
| Financial debts | 170/4 | €6,952 | - | -€6,952 | |
| Amounts payable within one year | 42/48 | €1,955,766 | €852,186 | -€1.1m | -56.4% |
| Current portion of amounts payable after more than one year | 42 | €4,952 | - | -€4,952 | |
| Trade debts | 44 | €1,720,058 | €607,379 | -€1.1m | -64.7% |
| Suppliers | 440/4 | €1,720,058 | €607,379 | -€1.1m | -64.7% |
| Taxes, remuneration and social security | 45 | €190,726 | €198,548 | +€7,822 | +4.1% |
| Taxes | 450/3 | €119,995 | €119,995 | = | 0.0% |
| Remuneration and social security | 454/9 | €70,731 | €78,553 | +€7,822 | +11.1% |
| Other amounts payable | 47/48 | €40,030 | €46,259 | +€6,229 | +15.6% |
| Non-recurring operating income | 76A | €995,287 | - | -€995,287 | |
| Remuneration, social security and pensions | 62 | €870,852 | €771,659 | -€99,193 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,806 | €29,382 | +€7,576 | +34.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €54,134 | +€54,134 | |
| Other operating charges | 640/8 | €7,932 | €8,278 | +€346 | +4.4% |
| Non-recurring operating charges | 66A | - | €2,713 | +€2,713 | |
| Gross operating margin | 9900 | €2,383,212 | €1,117,306 | -€1.3m | -53.1% |
| Operating profit (loss) | 9901 | €1,482,622 | €251,140 | -€1.2m | -83.1% |
| Financial income | 75/76B | €49,726 | €18,211 | -€31,515 | -63.4% |
| Recurring financial income | 75 | €49,726 | €18,211 | -€31,515 | -63.4% |
| Financial charges | 65/66B | €11,878 | €18,793 | +€6,915 | +58.2% |
| Recurring financial charges | 65 | €11,878 | €18,793 | +€6,915 | +58.2% |
| Profit (loss) for the period before taxes | 9903 | €1,520,470 | €250,558 | -€1.3m | -83.5% |
| Income taxes | 67/77 | €399,995 | €71,273 | -€328,721 | -82.2% |
| Profit (loss) for the period | 9904 | €1,120,475 | €179,285 | -€941,190 | -84.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,120,475 | €179,285 | -€941,190 | -84.0% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.