Make Antwerp Great Again: 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.
Make Antwerp Great Again
Largest movements
- Tangible fixed assets +€49,453
up €49,453 (+1,077%), from €4,590 to €54,043
- Cash -€19,399
down €19,399 (-71.8%), from €27,033 to €7,634
mainly Investment in fixed assets (net) (-€61,152) and Contributions, distributions and other (-€34,400)
- Current investments +€8,425
new in 2025: €8,425
- Deferred charges and accrued income +€2,140
up €2,140 (+1,903%), from €112 to €2,252
- Receivables within one year -€1,945
down €1,945 (-24.8%), from €7,832 to €5,888
of which Other amounts receivable: -€2,092
- Reserves -€34,251
down €34,251 (-99.3%), from €34,488 to €237
- Debts after one year +€31,518
new in 2025: €31,518
- Other debts +€31,039
up €31,039 (+2,048%), from €1,515 to €32,555
- Current portion of long-term debt +€9,194
new in 2025: €9,194
- Trade debts +€1,176
up €1,176 (+57.0%), from €2,064 to €3,239
- Depreciation +€8,937
up €8,937 (+324%), from €2,762 to €11,699
- Gross operating margin -€5,463
down €5,463 (-26.8%), from €20,357 to €14,894
- Taxes -€4,227
down €4,227 (-83.3%), from €5,075 to €848
- Financial charges +€1,521
up €1,521 (+2,090%), from €73 to €1,593
- Other operating charges -€332
down €332 (-35.4%), from €938 to €606
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 | €39,567 | €78,243 | +€38,675 | +97.7% |
| Fixed assets | 21/28 | €4,590 | €54,043 | +€49,453 | +1,077% |
| Tangible fixed assets | 22/27 | €4,590 | €54,043 | +€49,453 | +1,077% |
| Furniture and vehicles | 24 | €4,590 | €54,043 | +€49,453 | +1,077% |
| Current assets | 29/58 | €34,977 | €24,199 | -€10,778 | -30.8% |
| Amounts receivable within one year | 40/41 | €7,832 | €5,888 | -€1,945 | -24.8% |
| Trade receivables | 40 | €2,392 | €2,539 | +€147 | +6.1% |
| Other amounts receivable | 41 | €5,440 | €3,348 | -€2,092 | -38.4% |
| Current investments | 50/53 | - | €8,425 | +€8,425 | |
| Cash at bank and in hand | 54/58 | €27,033 | €7,634 | -€19,399 | -71.8% |
| Deferred charges and accrued income | 490/1 | €112 | €2,252 | +€2,140 | +1,903% |
| Total equity and liabilities | 10/49 | €39,567 | €78,243 | +€38,675 | +97.7% |
| Equity | 10/15 | €35,988 | €1,737 | -€34,251 | -95.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €34,488 | €237 | -€34,251 | -99.3% |
| Distributable reserves | 133 | €34,488 | €237 | -€34,251 | -99.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €3,579 | €76,506 | +€72,927 | +2,037% |
| Amounts payable after more than one year | 17 | - | €31,518 | +€31,518 | |
| Financial debts | 170/4 | - | €31,518 | +€31,518 | |
| Amounts payable within one year | 42/48 | €3,579 | €44,988 | +€41,408 | +1,157% |
| Current portion of amounts payable after more than one year | 42 | - | €9,194 | +€9,194 | |
| Trade debts | 44 | €2,064 | €3,239 | +€1,176 | +57.0% |
| Suppliers | 440/4 | €2,064 | €3,239 | +€1,176 | +57.0% |
| Other amounts payable | 47/48 | €1,515 | €32,555 | +€31,039 | +2,048% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,762 | €11,699 | +€8,937 | +324% |
| Other operating charges | 640/8 | €938 | €606 | -€332 | -35.4% |
| Gross operating margin | 9900 | €20,357 | €14,894 | -€5,463 | -26.8% |
| Operating profit (loss) | 9901 | €16,657 | €2,590 | -€14,067 | -84.5% |
| Financial charges | 65/66B | €73 | €1,593 | +€1,521 | +2,090% |
| Recurring financial charges | 65 | €73 | €1,593 | +€1,521 | +2,090% |
| Profit (loss) for the period before taxes | 9903 | €16,584 | €996 | -€15,588 | -94.0% |
| Income taxes | 67/77 | €5,075 | €848 | -€4,227 | -83.3% |
| Profit (loss) for the period | 9904 | €11,510 | €149 | -€11,361 | -98.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,510 | €149 | -€11,361 | -98.7% |
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 25 October 2026 via checked.be.