ANTWERP MANUFACTURING SERVICES: what changed
ANTWERP MANUFACTURING SERVICES
Largest movements
- Tangible fixed assets -€22,521
down €22,521 (-28.1%), from €80,011 to €57,490
of which Plant, machinery and equipment: -€21,931
- Receivables within one year +€8,464
up €8,464 (+2.9%), from €295,951 to €304,415
of which Trade receivables: +€5,512
- Cash -€5,502
down €5,502 (-24.7%), from €22,230 to €16,729
mainly Tax, wage and social debts (-€26,452) and Other debts (-€19,564)
- Profit (loss) carried forward +€29,418
up €29,418 (+75.3%), from -€39,056 to -€9,638
- Tax, wage and social debts -€26,452
down €26,452 (-28.1%), from €94,212 to €67,760
of which Taxes: -€32,390
- Other debts -€19,564
down €19,564 (-30.5%), from €64,155 to €44,591
- Trade debts -€6,961
down €6,961 (-6.6%), from €105,714 to €98,754
- Current portion of long-term debt +€4,000
new in 2025: €4,000
- Gross operating margin +€59,523
up €59,523 (+30.1%), from €197,525 to €257,048
- Staff costs -€4,396
down €4,396 (-2.1%), from €205,502 to €201,106
- Taxes -€3,928
down €3,928 (-55.6%), from €7,070 to €3,142
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 | €398,192 | €378,633 | -€19,558 | -4.9% |
| Fixed assets | 21/28 | €80,011 | €57,490 | -€22,521 | -28.1% |
| Tangible fixed assets | 22/27 | €80,011 | €57,490 | -€22,521 | -28.1% |
| Plant, machinery and equipment | 23 | €78,420 | €56,489 | -€21,931 | -28.0% |
| Furniture and vehicles | 24 | €1,590 | €1,000 | -€590 | -37.1% |
| Current assets | 29/58 | €318,181 | €321,144 | +€2,963 | +0.9% |
| Amounts receivable within one year | 40/41 | €295,951 | €304,415 | +€8,464 | +2.9% |
| Trade receivables | 40 | €216,167 | €221,679 | +€5,512 | +2.6% |
| Other amounts receivable | 41 | €79,784 | €82,736 | +€2,952 | +3.7% |
| Cash at bank and in hand | 54/58 | €22,230 | €16,729 | -€5,502 | -24.7% |
| Total equity and liabilities | 10/49 | €398,192 | €378,633 | -€19,558 | -4.9% |
| Equity | 10/15 | €134,110 | €163,528 | +€29,418 | +21.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €154,566 | €154,566 | = | 0.0% |
| Non-distributable reserves | 130/1 | €857 | €857 | = | 0.0% |
| Reserves not available under the articles | 1311 | €857 | €857 | = | 0.0% |
| Distributable reserves | 133 | €153,709 | €153,709 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,056 | -€9,638 | +€29,418 | +75.3% |
| Amounts payable | 17/49 | €264,082 | €215,105 | -€48,976 | -18.5% |
| Amounts payable within one year | 42/48 | €264,082 | €215,105 | -€48,976 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | - | €4,000 | +€4,000 | |
| Trade debts | 44 | €105,714 | €98,754 | -€6,961 | -6.6% |
| Suppliers | 440/4 | €105,714 | €98,754 | -€6,961 | -6.6% |
| Taxes, remuneration and social security | 45 | €94,212 | €67,760 | -€26,452 | -28.1% |
| Taxes | 450/3 | €34,773 | €2,383 | -€32,390 | -93.1% |
| Remuneration and social security | 454/9 | €59,439 | €65,377 | +€5,938 | +10.0% |
| Other amounts payable | 47/48 | €64,155 | €44,591 | -€19,564 | -30.5% |
| Remuneration, social security and pensions | 62 | €205,502 | €201,106 | -€4,396 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,111 | €22,521 | +€409 | +1.9% |
| Other operating charges | 640/8 | €871 | €1,040 | +€169 | +19.4% |
| Gross operating margin | 9900 | €197,525 | €257,048 | +€59,523 | +30.1% |
| Operating profit (loss) | 9901 | -€30,960 | €32,381 | +€63,341 | |
| Financial income | 75/76B | €141 | €699 | +€558 | +395% |
| Recurring financial income | 75 | €141 | €699 | +€558 | +395% |
| Financial charges | 65/66B | €1,167 | €520 | -€648 | -55.5% |
| Recurring financial charges | 65 | €1,167 | €520 | -€648 | -55.5% |
| Profit (loss) for the period before taxes | 9903 | -€31,986 | €32,560 | +€64,546 | |
| Income taxes | 67/77 | €7,070 | €3,142 | -€3,928 | -55.6% |
| Profit (loss) for the period | 9904 | -€39,056 | €29,418 | +€68,474 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,056 | €29,418 | +€68,474 |
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 4 November 2026 via checked.be.