Antwerp Management Group: what changed
Antwerp Management Group
Largest movements
- Financial fixed assets +€3.2m
up €3.2m (+171%), from €1.9m to €5.1m
- Receivables within one year -€489,353
down €489,353 (-99.7%), from €490,773 to €1,420
- Revaluation surpluses +€4.0m
new in 2025: €4.0m
- Reserves -€1.1m
down €1.1m (-45.0%), from €2.3m to €1.3m
of which Distributable reserves: -€1.0m
- Other debts -€168,884
no longer reported in 2025 (was €168,884)
- Contributions -€65,235
down €65,235 (-46.6%), from €140,000 to €74,765
- Financial income -€31,537
down €31,537 (-73.8%), from €42,741 to €11,204
of which Non-recurring financial income: -€25,551
- Gross operating margin +€21,509
up €21,509 (+22.9%), from €93,750 to €115,259
- Depreciation -€17,310
no longer reported in 2025 (was €17,310)
- Financial charges -€14,702
down €14,702 (-94.1%), from €15,629 to €927
- Taxes +€12,287
up €12,287 (+45.3%), from €27,104 to €39,391
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,671,401 | €5,402,555 | +€2.7m | +102% |
| Fixed assets | 21/28 | €1,905,142 | €5,137,264 | +€3.2m | +170% |
| Intangible fixed assets | 21 | €11,635 | - | -€11,635 | |
| Financial fixed assets | 28 | €1,893,507 | €5,137,264 | +€3.2m | +171% |
| Current assets | 29/58 | €766,259 | €265,291 | -€500,968 | -65.4% |
| Amounts receivable within one year | 40/41 | €490,773 | €1,420 | -€489,353 | -99.7% |
| Other amounts receivable | 41 | €490,773 | €1,420 | -€489,353 | -99.7% |
| Cash at bank and in hand | 54/58 | €275,487 | €263,871 | -€11,615 | -4.2% |
| Total equity and liabilities | 10/49 | €2,671,401 | €5,402,555 | +€2.7m | +102% |
| Equity | 10/15 | €2,477,249 | €5,393,165 | +€2.9m | +118% |
| Contributions | 10/11 | €140,000 | €74,765 | -€65,235 | -46.6% |
| Revaluation surpluses | 12 | - | €4,032,270 | +€4.0m | |
| Reserves | 13 | €2,337,249 | €1,286,129 | -€1.1m | -45.0% |
| Non-distributable reserves | 130/1 | €14,000 | - | -€14,000 | |
| Reserves not available under the articles | 1311 | €14,000 | - | -€14,000 | |
| Distributable reserves | 133 | €2,323,249 | €1,286,129 | -€1.0m | -44.6% |
| Amounts payable | 17/49 | €194,153 | €9,391 | -€184,762 | -95.2% |
| Amounts payable within one year | 42/48 | €194,153 | €9,391 | -€184,762 | -95.2% |
| Current portion of amounts payable after more than one year | 42 | €25,269 | - | -€25,269 | |
| Taxes, remuneration and social security | 45 | - | €9,391 | +€9,391 | |
| Taxes | 450/3 | - | €9,391 | +€9,391 | |
| Other amounts payable | 47/48 | €168,884 | - | -€168,884 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,310 | - | -€17,310 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €93,750 | €115,259 | +€21,509 | +22.9% |
| Operating profit (loss) | 9901 | €76,322 | €115,139 | +€38,817 | +50.9% |
| Financial income | 75/76B | €42,741 | €11,204 | -€31,537 | -73.8% |
| Recurring financial income | 75 | €17,190 | €11,204 | -€5,986 | -34.8% |
| Non-recurring financial income | 76B | €25,551 | - | -€25,551 | |
| Financial charges | 65/66B | €15,629 | €927 | -€14,702 | -94.1% |
| Recurring financial charges | 65 | €15,629 | €927 | -€14,702 | -94.1% |
| Profit (loss) for the period before taxes | 9903 | €103,435 | €125,416 | +€21,982 | +21.3% |
| Income taxes | 67/77 | €27,104 | €39,391 | +€12,287 | +45.3% |
| Profit (loss) for the period | 9904 | €76,331 | €86,026 | +€9,695 | +12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €76,331 | €86,026 | +€9,695 | +12.7% |
Next steps
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 5 November 2026 via checked.be.