De Antwerpse Stadsherder: 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.
De Antwerpse Stadsherder
Largest movements
- Cash +€44,919
up €44,919 (+208%), from €21,638 to €66,557
mainly Other debts (+€53,371) and Depreciation (+€23,369)
- Tangible fixed assets -€20,503
down €20,503 (-17.6%), from €116,275 to €95,772
of which Furniture and vehicles: -€16,760
- Receivables within one year -€18,435
down €18,435 (-82.1%), from €22,463 to €4,028
of which Trade receivables: -€22,236
- Current investments +€2,400
up €2,400 (+35.3%), from €6,800 to €9,200
- Reserves -€72,034
down €72,034 (-67.1%), from €107,409 to €35,375
- Other debts +€53,371
up €53,371 (+180%), from €29,686 to €83,058
- Debts after one year +€11,469
up €11,469 (+36.2%), from €31,716 to €43,184
- Tax, wage and social debts +€9,503
up €9,503 (+153%), from €6,228 to €15,731
of which Taxes: +€7,173
- Trade debts +€5,446
up €5,446 (+73.2%), from €7,437 to €12,883
- Staff costs +€17,385
new in 2025: €17,385
- Depreciation +€10,127
up €10,127 (+76.5%), from €13,242 to €23,369
- Gross operating margin +€5,290
up €5,290 (+11.6%), from €45,455 to €50,746
- Taxes -€4,745
down €4,745 (-76.8%), from €6,174 to €1,429
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 | €196,209 | €206,152 | +€9,944 | +5.1% |
| Fixed assets | 21/28 | €116,275 | €95,772 | -€20,503 | -17.6% |
| Tangible fixed assets | 22/27 | €116,275 | €95,772 | -€20,503 | -17.6% |
| Plant, machinery and equipment | 23 | €52,314 | €48,571 | -€3,744 | -7.2% |
| Furniture and vehicles | 24 | €63,961 | €47,201 | -€16,760 | -26.2% |
| Current assets | 29/58 | €79,934 | €110,381 | +€30,447 | +38.1% |
| Stocks and contracts in progress | 3 | €27,327 | €28,670 | +€1,342 | +4.9% |
| Stocks | 30/36 | €27,327 | €28,670 | +€1,342 | +4.9% |
| Amounts receivable within one year | 40/41 | €22,463 | €4,028 | -€18,435 | -82.1% |
| Trade receivables | 40 | €22,463 | €227 | -€22,236 | -99.0% |
| Other amounts receivable | 41 | €0 | €3,802 | +€3,802 | |
| Current investments | 50/53 | €6,800 | €9,200 | +€2,400 | +35.3% |
| Cash at bank and in hand | 54/58 | €21,638 | €66,557 | +€44,919 | +208% |
| Deferred charges and accrued income | 490/1 | €1,705 | €1,926 | +€221 | +13.0% |
| Total equity and liabilities | 10/49 | €196,209 | €206,152 | +€9,944 | +5.1% |
| Equity | 10/15 | €109,409 | €37,375 | -€72,034 | -65.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €107,409 | €35,375 | -€72,034 | -67.1% |
| Distributable reserves | 133 | €107,409 | €35,375 | -€72,034 | -67.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €86,799 | €168,777 | +€81,978 | +94.4% |
| Amounts payable after more than one year | 17 | €31,716 | €43,184 | +€11,469 | +36.2% |
| Financial debts | 170/4 | €31,716 | €43,184 | +€11,469 | +36.2% |
| Amounts payable within one year | 42/48 | €55,084 | €125,593 | +€70,509 | +128% |
| Current portion of amounts payable after more than one year | 42 | €11,732 | €13,922 | +€2,189 | +18.7% |
| Trade debts | 44 | €7,437 | €12,883 | +€5,446 | +73.2% |
| Suppliers | 440/4 | €7,437 | €12,883 | +€5,446 | +73.2% |
| Taxes, remuneration and social security | 45 | €6,228 | €15,731 | +€9,503 | +153% |
| Taxes | 450/3 | €6,228 | €13,401 | +€7,173 | +115% |
| Remuneration and social security | 454/9 | - | €2,330 | +€2,330 | |
| Other amounts payable | 47/48 | €29,686 | €83,058 | +€53,371 | +180% |
| Remuneration, social security and pensions | 62 | - | €17,385 | +€17,385 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,242 | €23,369 | +€10,127 | +76.5% |
| Other operating charges | 640/8 | €1,064 | €1,311 | +€248 | +23.3% |
| Gross operating margin | 9900 | €45,455 | €50,746 | +€5,290 | +11.6% |
| Operating profit (loss) | 9901 | €31,149 | €8,680 | -€22,469 | -72.1% |
| Financial income | 75/76B | €6 | €0 | -€6 | -98.5% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -98.5% |
| Financial charges | 65/66B | €3,288 | €2,785 | -€504 | -15.3% |
| Recurring financial charges | 65 | €3,288 | €2,785 | -€504 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €27,867 | €5,895 | -€21,971 | -78.8% |
| Income taxes | 67/77 | €6,174 | €1,429 | -€4,745 | -76.8% |
| Profit (loss) for the period | 9904 | €21,693 | €4,466 | -€17,227 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,693 | €4,466 | -€17,227 | -79.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.