ANTWERPCONNECTION: 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.
ANTWERPCONNECTION
Largest movements
- Tangible fixed assets -€18,790
down €18,790 (-9.0%), from €208,586 to €189,796
- Cash +€12,936
up €12,936 (+777.9%), from €1,663 to €14,599
mainly Net result for the year (+€23,061) and Depreciation (+€18,790)
- Debts after one year -€26,954
down €26,954 (-9.7%), from €279,315 to €252,361
of which Financial debts: -€18,000
- Profit (loss) carried forward +€23,061
up €23,061 (+21.0%), from -€109,849 to -€86,788
- Gross operating margin +€23,354
up €23,354 (+89.0%), from €26,246 to €49,600
- Financial charges -€2,851
down €2,851 (-34.8%), from €8,187 to €5,336
- Other operating charges -€1,055
down €1,055 (-30.4%), from €3,473 to €2,418
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 | €212,318 | €206,969 | -€5,349 | -2.5% |
| Fixed assets | 21/28 | €208,586 | €189,796 | -€18,790 | -9.0% |
| Tangible fixed assets | 22/27 | €208,586 | €189,796 | -€18,790 | -9.0% |
| Other tangible fixed assets | 26 | €208,586 | €189,796 | -€18,790 | -9.0% |
| Current assets | 29/58 | €3,732 | €17,173 | +€13,441 | +360.2% |
| Amounts receivable within one year | 40/41 | €2,069 | €479 | -€1,590 | -76.8% |
| Trade receivables | 40 | €2,069 | €105 | -€1,964 | -94.9% |
| Other amounts receivable | 41 | - | €374 | +€374 | |
| Cash at bank and in hand | 54/58 | €1,663 | €14,599 | +€12,936 | +777.9% |
| Deferred charges and accrued income | 490/1 | - | €2,095 | +€2,095 | |
| Total equity and liabilities | 10/49 | €212,318 | €206,969 | -€5,349 | -2.5% |
| Equity | 10/15 | -€89,398 | -€66,337 | +€23,061 | +25.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,849 | -€86,788 | +€23,061 | +21.0% |
| Amounts payable | 17/49 | €301,716 | €273,306 | -€28,410 | -9.4% |
| Amounts payable after more than one year | 17 | €279,315 | €252,361 | -€26,954 | -9.7% |
| Financial debts | 170/4 | €132,000 | €114,000 | -€18,000 | -13.6% |
| Other amounts payable | 178/9 | €147,315 | €138,361 | -€8,954 | -6.1% |
| Amounts payable within one year | 42/48 | €22,401 | €20,632 | -€1,769 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €18,000 | €18,000 | = | 0.0% |
| Trade debts | 44 | €893 | - | -€893 | |
| Suppliers | 440/4 | €893 | - | -€893 | |
| Taxes, remuneration and social security | 45 | €1,792 | €2,632 | +€840 | +46.9% |
| Taxes | 450/3 | €1,792 | €2,632 | +€840 | +46.9% |
| Other amounts payable | 47/48 | €1,716 | - | -€1,716 | |
| Accrued charges and deferred income | 492/3 | - | €313 | +€313 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,136 | €18,790 | -€346 | -1.8% |
| Other operating charges | 640/8 | €3,473 | €2,418 | -€1,055 | -30.4% |
| Gross operating margin | 9900 | €26,246 | €49,600 | +€23,354 | +89.0% |
| Operating profit (loss) | 9901 | €3,637 | €28,392 | +€24,755 | +680.6% |
| Financial income | 75/76B | €39 | €5 | -€34 | -87.2% |
| Recurring financial income | 75 | €39 | €5 | -€34 | -87.2% |
| Financial charges | 65/66B | €8,187 | €5,336 | -€2,851 | -34.8% |
| Recurring financial charges | 65 | €8,187 | €5,336 | -€2,851 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,511 | €23,061 | +€27,572 | |
| Profit (loss) for the period | 9904 | -€4,511 | €23,061 | +€27,572 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,511 | €23,061 | +€27,572 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.