ANTWERP - SECURITY: what changed
Two fiscal 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 - SECURITY
Largest movements
- Tangible fixed assets +€22,975
up €22,975 (+41.7%), from €55,120 to €78,095
of which Furniture and vehicles: +€30,945
- Receivables within one year -€18,486
down €18,486 (-21.5%), from €86,147 to €67,661
of which Trade receivables: -€18,955
- Cash -€10,844
down €10,844 (-13.2%), from €82,201 to €71,357
mainly Investment in fixed assets (net) (-€47,843) and Other debts (-€32,086)
- Reserves +€47,182
up €47,182 (+32.7%), from €144,451 to €191,633
of which Distributable reserves: +€47,182
- Other debts -€32,086
down €32,086 (-51.5%), from €62,271 to €30,184
- Short-term financial debts -€30,008
down €30,008 (-88.2%), from €34,026 to €4,018
- Debts after one year +€23,196
up €23,196 (+782.0%), from €2,966 to €26,162
- Trade debts -€10,029
down €10,029 (-55.6%), from €18,031 to €8,002
- Turnover -€98,908
down €98,908 (-10.8%), from €916,909 to €818,001
- Purchases and services -€83,127
down €83,127 (-13.6%), from €612,346 to €529,219
- Gross operating margin -€28,773
down €28,773 (-8.6%), from €332,821 to €304,049
- Staff costs -€25,762
down €25,762 (-11.5%), from €223,591 to €197,829
- Depreciation -€14,364
down €14,364 (-36.6%), from €39,232 to €24,868
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.
Cash bridge derived
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 | €330,236 | €322,603 | -€7,632 | -2.3% |
| Fixed assets | 21/28 | €55,120 | €78,095 | +€22,975 | +41.7% |
| Tangible fixed assets | 22/27 | €55,120 | €78,095 | +€22,975 | +41.7% |
| Plant, machinery and equipment | 23 | €9,096 | €6,195 | -€2,901 | -31.9% |
| Furniture and vehicles | 24 | €29,557 | €60,502 | +€30,945 | +104.7% |
| Other tangible fixed assets | 26 | €16,467 | €11,398 | -€5,069 | -30.8% |
| Current assets | 29/58 | €275,115 | €244,508 | -€30,607 | -11.1% |
| Stocks and contracts in progress | 3 | €101,485 | €99,124 | -€2,361 | -2.3% |
| Stocks | 30/36 | €101,485 | €99,124 | -€2,361 | -2.3% |
| Amounts receivable within one year | 40/41 | €86,147 | €67,661 | -€18,486 | -21.5% |
| Trade receivables | 40 | €83,419 | €64,464 | -€18,955 | -22.7% |
| Other amounts receivable | 41 | €2,727 | €3,197 | +€470 | +17.2% |
| Cash at bank and in hand | 54/58 | €82,201 | €71,357 | -€10,844 | -13.2% |
| Deferred charges and accrued income | 490/1 | €5,282 | €6,365 | +€1,083 | +20.5% |
| Total equity and liabilities | 10/49 | €330,236 | €322,603 | -€7,632 | -2.3% |
| Equity | 10/15 | €163,051 | €210,233 | +€47,182 | +28.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €144,451 | €191,633 | +€47,182 | +32.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €142,591 | €189,773 | +€47,182 | +33.1% |
| Amounts payable | 17/49 | €167,184 | €112,370 | -€54,814 | -32.8% |
| Amounts payable after more than one year | 17 | €2,966 | €26,162 | +€23,196 | +782.0% |
| Financial debts | 170/4 | €2,966 | €26,162 | +€23,196 | +782.0% |
| Amounts payable within one year | 42/48 | €161,969 | €84,099 | -€77,870 | -48.1% |
| Current portion of amounts payable after more than one year | 42 | €12,148 | €13,220 | +€1,071 | +8.8% |
| Financial debts | 43 | €34,026 | €4,018 | -€30,008 | -88.2% |
| Credit institutions | 430/8 | €34,026 | €4,018 | -€30,008 | -88.2% |
| Trade debts | 44 | €18,031 | €8,002 | -€10,029 | -55.6% |
| Suppliers | 440/4 | €18,031 | €8,002 | -€10,029 | -55.6% |
| Taxes, remuneration and social security | 45 | €35,493 | €28,676 | -€6,818 | -19.2% |
| Taxes | 450/3 | €8,629 | €3,037 | -€5,592 | -64.8% |
| Remuneration and social security | 454/9 | €26,864 | €25,639 | -€1,225 | -4.6% |
| Other amounts payable | 47/48 | €62,271 | €30,184 | -€32,086 | -51.5% |
| Accrued charges and deferred income | 492/3 | €2,249 | €2,109 | -€140 | -6.2% |
| Turnover | 70 | €916,909 | €818,001 | -€98,908 | -10.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €612,346 | €529,219 | -€83,127 | -13.6% |
| Remuneration, social security and pensions | 62 | €223,591 | €197,829 | -€25,762 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,232 | €24,868 | -€14,364 | -36.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €326 | -€674 | -€1,000 | |
| Other operating charges | 640/8 | €3,750 | €4,612 | +€862 | +23.0% |
| Gross operating margin | 9900 | €332,821 | €304,049 | -€28,773 | -8.6% |
| Operating profit (loss) | 9901 | €65,922 | €77,414 | +€11,491 | +17.4% |
| Financial income | 75/76B | €640 | €1,008 | +€367 | +57.3% |
| Recurring financial income | 75 | €640 | €1,008 | +€367 | +57.3% |
| Financial charges | 65/66B | €7,269 | €9,527 | +€2,257 | +31.1% |
| Recurring financial charges | 65 | €7,269 | €9,527 | +€2,257 | +31.1% |
| Profit (loss) for the period before taxes | 9903 | €59,293 | €68,895 | +€9,601 | +16.2% |
| Income taxes | 67/77 | €18,105 | €20,113 | +€2,008 | +11.1% |
| Profit (loss) for the period | 9904 | €41,189 | €48,782 | +€7,593 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,189 | €48,782 | +€7,593 | +18.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.