ANTWERP PROJECTS INVEST: 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 PROJECTS INVEST
Largest movements
- Stocks and contracts +€1.4m
up €1.4m (+62.5%), from €2.3m to €3.7m
- Cash -€197,086
down €197,086 (-79.8%), from €247,030 to €49,945
mainly Stocks and contracts (-€1.4m) and Receivables within one year (-€54,341)
- Receivables within one year +€54,341
up €54,341 (+1,354%), from €4,013 to €58,354
of which Other amounts receivable: +€54,086
- Short-term financial debts +€744,696
up €744,696 (+46.2%), from €1.6m to €2.4m
- Debts after one year +€520,000
up €520,000 (+260%), from €200,119 to €720,119
- Reserves +€87,079
up €87,079 (+15.9%), from €548,427 to €635,506
of which Distributable reserves: +€87,079
- Gross operating margin -€63,770
down €63,770 (-18.9%), from €337,071 to €273,302
- Financial charges +€22,241
up €22,241 (+19.1%), from €116,463 to €138,703
- Taxes -€16,086
down €16,086 (-27.5%), from €58,497 to €42,411
- Depreciation -€8,200
down €8,200 (-100%), from €8,200 to €0
- Other operating charges -€3,426
down €3,426 (-39.7%), from €8,619 to €5,193
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 | €2,531,631 | €3,815,453 | +€1.3m | +50.7% |
| Fixed assets | 21/28 | €1,500 | €1,500 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €2,530,131 | €3,813,953 | +€1.3m | +50.7% |
| Stocks and contracts in progress | 3 | €2,277,449 | €3,701,801 | +€1.4m | +62.5% |
| Stocks | 30/36 | €2,277,449 | €3,701,801 | +€1.4m | +62.5% |
| Amounts receivable within one year | 40/41 | €4,013 | €58,354 | +€54,341 | +1,354% |
| Trade receivables | 40 | €510 | €765 | +€255 | +50.0% |
| Other amounts receivable | 41 | €3,503 | €57,589 | +€54,086 | +1,544% |
| Cash at bank and in hand | 54/58 | €247,030 | €49,945 | -€197,086 | -79.8% |
| Deferred charges and accrued income | 490/1 | €1,639 | €3,854 | +€2,215 | +135% |
| Total equity and liabilities | 10/49 | €2,531,631 | €3,815,453 | +€1.3m | +50.7% |
| Equity | 10/15 | €568,427 | €655,506 | +€87,079 | +15.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €548,427 | €635,506 | +€87,079 | +15.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €548,427 | €635,506 | +€87,079 | +15.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,963,205 | €3,159,947 | +€1.2m | +61.0% |
| Amounts payable after more than one year | 17 | €200,119 | €720,119 | +€520,000 | +260% |
| Financial debts | 170/4 | €200,119 | €720,119 | +€520,000 | +260% |
| Amounts payable within one year | 42/48 | €1,702,400 | €2,396,515 | +€694,115 | +40.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €1,613,312 | €2,358,008 | +€744,696 | +46.2% |
| Credit institutions | 430/8 | €1,613,312 | €2,358,008 | +€744,696 | +46.2% |
| Trade debts | 44 | €62,814 | €36,594 | -€26,220 | -41.7% |
| Suppliers | 440/4 | €62,814 | €36,594 | -€26,220 | -41.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €26,273 | €1,913 | -€24,360 | -92.7% |
| Accrued charges and deferred income | 492/3 | €60,686 | €43,314 | -€17,373 | -28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,200 | €0 | -€8,200 | -100% |
| Other operating charges | 640/8 | €8,619 | €5,193 | -€3,426 | -39.7% |
| Gross operating margin | 9900 | €337,071 | €273,302 | -€63,770 | -18.9% |
| Operating profit (loss) | 9901 | €320,253 | €268,109 | -€52,144 | -16.3% |
| Financial income | 75/76B | €3,428 | €86 | -€3,343 | -97.5% |
| Recurring financial income | 75 | €3,428 | €86 | -€3,343 | -97.5% |
| Financial charges | 65/66B | €116,463 | €138,703 | +€22,241 | +19.1% |
| Recurring financial charges | 65 | €116,463 | €138,703 | +€22,241 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | €207,218 | €129,491 | -€77,727 | -37.5% |
| Income taxes | 67/77 | €58,497 | €42,411 | -€16,086 | -27.5% |
| Profit (loss) for the period | 9904 | €148,721 | €87,079 | -€61,641 | -41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €148,721 | €87,079 | -€61,641 | -41.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.