Nikkei Antwerp: 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.
Nikkei Antwerp
Largest movements
- Intangible fixed assets +€68,037
up €68,037 (+157%), from €43,379 to €111,416
- Receivables within one year +€21,539
up €21,539 (+101%), from €21,347 to €42,886
of which Trade receivables: +€17,590
- Tangible fixed assets +€20,987
up €20,987 (+18.1%), from €116,244 to €137,230
of which Plant, machinery and equipment: +€21,986
- Cash +€12,063
up €12,063 (+32.9%), from €36,694 to €48,758
mainly Debts after one year (+€45,181) and Net result for the year (+€36,555)
- Stocks and contracts +€6,100
up €6,100 (+74.4%), from €8,200 to €14,300
- Debts after one year +€45,181
up €45,181 (+37.6%), from €120,125 to €165,306
- Reserves +€36,555
up €36,555 (+286%), from €12,776 to €49,331
- Short-term financial debts +€24,196
up €24,196 (+250%), from €9,677 to €33,873
- Current portion of long-term debt +€14,030
up €14,030 (+50.1%), from €28,000 to €42,030
- Tax, wage and social debts +€9,346
up €9,346 (+20.2%), from €46,319 to €55,665
of which Remuneration and social security: +€15,344
- Gross operating margin +€313,929
up €313,929 (+103%), from €304,696 to €618,624
- Staff costs +€257,604
up €257,604 (+100%), from €257,086 to €514,690
- Taxes +€10,859
up €10,859 (+218%), from €4,976 to €15,835
- Other operating charges +€7,779
up €7,779 (+121%), from €6,429 to €14,208
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 | €235,506 | €364,232 | +€128,726 | +54.7% |
| Fixed assets | 21/28 | €169,265 | €258,289 | +€89,024 | +52.6% |
| Intangible fixed assets | 21 | €43,379 | €111,416 | +€68,037 | +157% |
| Tangible fixed assets | 22/27 | €116,244 | €137,230 | +€20,987 | +18.1% |
| Plant, machinery and equipment | 23 | €102,500 | €124,487 | +€21,986 | +21.5% |
| Furniture and vehicles | 24 | €13,744 | €12,744 | -€1,000 | -7.3% |
| Financial fixed assets | 28 | €9,642 | €9,642 | = | 0.0% |
| Current assets | 29/58 | €66,241 | €105,944 | +€39,702 | +59.9% |
| Stocks and contracts in progress | 3 | €8,200 | €14,300 | +€6,100 | +74.4% |
| Stocks | 30/36 | €8,200 | €14,300 | +€6,100 | +74.4% |
| Amounts receivable within one year | 40/41 | €21,347 | €42,886 | +€21,539 | +101% |
| Trade receivables | 40 | €5,411 | €23,001 | +€17,590 | +325% |
| Other amounts receivable | 41 | €15,936 | €19,885 | +€3,949 | +24.8% |
| Cash at bank and in hand | 54/58 | €36,694 | €48,758 | +€12,063 | +32.9% |
| Total equity and liabilities | 10/49 | €235,506 | €364,232 | +€128,726 | +54.7% |
| Equity | 10/15 | €17,776 | €54,331 | +€36,555 | +206% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €12,776 | €49,331 | +€36,555 | +286% |
| Distributable reserves | 133 | €12,776 | €49,331 | +€36,555 | +286% |
| Amounts payable | 17/49 | €217,730 | €309,901 | +€92,171 | +42.3% |
| Amounts payable after more than one year | 17 | €120,125 | €165,306 | +€45,181 | +37.6% |
| Financial debts | 170/4 | €120,125 | €165,306 | +€45,181 | +37.6% |
| Amounts payable within one year | 42/48 | €97,605 | €144,595 | +€46,990 | +48.1% |
| Current portion of amounts payable after more than one year | 42 | €28,000 | €42,030 | +€14,030 | +50.1% |
| Financial debts | 43 | €9,677 | €33,873 | +€24,196 | +250% |
| Other loans | 439 | €9,677 | €33,873 | +€24,196 | +250% |
| Trade debts | 44 | €8,438 | €13,027 | +€4,589 | +54.4% |
| Suppliers | 440/4 | €8,438 | €13,027 | +€4,589 | +54.4% |
| Advances received on contracts in progress | 46 | €5,171 | - | -€5,171 | |
| Taxes, remuneration and social security | 45 | €46,319 | €55,665 | +€9,346 | +20.2% |
| Taxes | 450/3 | €21,707 | €15,709 | -€5,998 | -27.6% |
| Remuneration and social security | 454/9 | €24,612 | €39,956 | +€15,344 | +62.3% |
| Remuneration, social security and pensions | 62 | €257,086 | €514,690 | +€257,604 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,805 | €25,457 | +€1,652 | +6.9% |
| Other operating charges | 640/8 | €6,429 | €14,208 | +€7,779 | +121% |
| Non-recurring operating charges | 66A | - | €1,397 | +€1,397 | |
| Gross operating margin | 9900 | €304,696 | €618,624 | +€313,929 | +103% |
| Operating profit (loss) | 9901 | €17,375 | €62,872 | +€45,496 | +262% |
| Financial income | 75/76B | €837 | €1,060 | +€223 | +26.7% |
| Recurring financial income | 75 | €837 | €1,060 | +€223 | +26.7% |
| Financial charges | 65/66B | €9,552 | €11,541 | +€1,990 | +20.8% |
| Recurring financial charges | 65 | €7,110 | €11,541 | +€4,432 | +62.3% |
| Non-recurring financial charges | 66B | €2,442 | - | -€2,442 | |
| Profit (loss) for the period before taxes | 9903 | €8,660 | €52,391 | +€43,730 | +505% |
| Income taxes | 67/77 | €4,976 | €15,835 | +€10,859 | +218% |
| Profit (loss) for the period | 9904 | €3,684 | €36,555 | +€32,871 | +892% |
| Profit (loss) for the period to be appropriated | 9905 | €3,684 | €36,555 | +€32,871 | +892% |
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 1 November 2026 via checked.be.