EXPRESS ANTWERPEN: 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.
EXPRESS ANTWERPEN
Largest movements
- Receivables within one year -€325,984
down €325,984 (-86.7%), from €375,973 to €49,988
of which Trade receivables: -€316,392
- Tangible fixed assets -€37,067
down €37,067 (-10.7%), from €345,131 to €308,064
of which Plant, machinery and equipment: -€26,772
- Stocks and contracts -€13,000
down €13,000 (-9.4%), from €138,295 to €125,295
- Trade debts -€286,544
down €286,544 (-47.6%), from €602,193 to €315,649
- Profit (loss) carried forward -€62,912
down €62,912 (-119%), from -€52,743 to -€115,655
- Debts after one year -€42,467
down €42,467 (-16.9%), from €251,038 to €208,571
- Tax, wage and social debts +€26,020
new in 2025: €26,020
of which Remuneration and social security: +€23,519
- Accrued charges and deferred income -€14,313
down €14,313 (-96.8%), from €14,781 to €468
- Gross operating margin +€120,746
up €120,746, from -€13,450 to €107,296
- Staff costs +€117,365
up €117,365 (+17,335%), from €677 to €118,042
- Depreciation +€11,532
up €11,532 (+45.2%), from €25,535 to €37,067
- Financial charges +€1,115
up €1,115 (+8.5%), from €13,058 to €14,173
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 | €971,053 | €593,582 | -€377,471 | -38.9% |
| Fixed assets | 21/28 | €351,037 | €313,970 | -€37,067 | -10.6% |
| Tangible fixed assets | 22/27 | €345,131 | €308,064 | -€37,067 | -10.7% |
| Plant, machinery and equipment | 23 | €249,278 | €222,506 | -€26,772 | -10.7% |
| Other tangible fixed assets | 26 | €95,853 | €85,558 | -€10,294 | -10.7% |
| Financial fixed assets | 28 | €5,906 | €5,906 | = | 0.0% |
| Current assets | 29/58 | €620,016 | €279,611 | -€340,405 | -54.9% |
| Stocks and contracts in progress | 3 | €138,295 | €125,295 | -€13,000 | -9.4% |
| Stocks | 30/36 | €138,295 | €125,295 | -€13,000 | -9.4% |
| Amounts receivable within one year | 40/41 | €375,973 | €49,988 | -€325,984 | -86.7% |
| Trade receivables | 40 | €363,371 | €46,979 | -€316,392 | -87.1% |
| Other amounts receivable | 41 | €12,601 | €3,010 | -€9,592 | -76.1% |
| Cash at bank and in hand | 54/58 | €101,855 | €98,165 | -€3,690 | -3.6% |
| Deferred charges and accrued income | 490/1 | €3,893 | €6,163 | +€2,270 | +58.3% |
| Total equity and liabilities | 10/49 | €971,053 | €593,582 | -€377,471 | -38.9% |
| Equity | 10/15 | €57,257 | -€5,655 | -€62,912 | |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,743 | -€115,655 | -€62,912 | -119% |
| Amounts payable | 17/49 | €913,796 | €599,237 | -€314,559 | -34.4% |
| Amounts payable after more than one year | 17 | €251,038 | €208,571 | -€42,467 | -16.9% |
| Financial debts | 170/4 | €251,038 | €208,571 | -€42,467 | -16.9% |
| Amounts payable within one year | 42/48 | €647,977 | €390,198 | -€257,779 | -39.8% |
| Current portion of amounts payable after more than one year | 42 | €40,852 | €42,467 | +€1,615 | +4.0% |
| Trade debts | 44 | €602,193 | €315,649 | -€286,544 | -47.6% |
| Suppliers | 440/4 | €602,193 | €315,649 | -€286,544 | -47.6% |
| Taxes, remuneration and social security | 45 | - | €26,020 | +€26,020 | |
| Taxes | 450/3 | - | €2,501 | +€2,501 | |
| Remuneration and social security | 454/9 | - | €23,519 | +€23,519 | |
| Other amounts payable | 47/48 | €4,932 | €6,062 | +€1,131 | +22.9% |
| Accrued charges and deferred income | 492/3 | €14,781 | €468 | -€14,313 | -96.8% |
| Remuneration, social security and pensions | 62 | €677 | €118,042 | +€117,365 | +17,335% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,535 | €37,067 | +€11,532 | +45.2% |
| Other operating charges | 640/8 | €50 | €970 | +€920 | +1,839% |
| Gross operating margin | 9900 | -€13,450 | €107,296 | +€120,746 | |
| Operating profit (loss) | 9901 | -€39,711 | -€48,782 | -€9,071 | -22.8% |
| Financial income | 75/76B | €26 | €43 | +€17 | +63.4% |
| Recurring financial income | 75 | €26 | €43 | +€17 | +63.4% |
| Financial charges | 65/66B | €13,058 | €14,173 | +€1,115 | +8.5% |
| Recurring financial charges | 65 | €13,058 | €14,173 | +€1,115 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | -€52,743 | -€62,912 | -€10,169 | -19.3% |
| Profit (loss) for the period | 9904 | -€52,743 | -€62,912 | -€10,169 | -19.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,743 | -€62,912 | -€10,169 | -19.3% |
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 20 October 2026 via checked.be.