Tulip 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.
Tulip Antwerp
Largest movements
- Stocks and contracts -€95,064
down €95,064 (-2.1%), from €4.5m to €4.4m
- Profit (loss) carried forward -€345,152
down €345,152 (-66.4%), from -€519,759 to -€864,911
- Current portion of long-term debt +€263,507
up €263,507 (+12.6%), from €2.1m to €2.3m
- Trade debts -€72,699
down €72,699 (-15.8%), from €460,640 to €387,942
- Gross operating margin -€44,140
down €44,140 (-233%), from -€18,934 to -€63,074
- Financial charges -€40,984
down €40,984 (-14.8%), from €276,831 to €235,846
- Other operating charges -€25,140
down €25,140 (-35.2%), from €71,373 to €46,233
- Purchases and services -€871
down €871 (-1.4%), from €63,323 to €62,451
- Taxes -€687
no longer reported in 2025 (was €687)
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 | €4,617,989 | €4,463,645 | -€154,344 | -3.3% |
| Current assets | 29/58 | €4,617,989 | €4,463,645 | -€154,344 | -3.3% |
| Stocks and contracts in progress | 3 | €4,541,918 | €4,446,854 | -€95,064 | -2.1% |
| Stocks | 30/36 | €4,541,918 | €4,446,854 | -€95,064 | -2.1% |
| Amounts receivable within one year | 40/41 | €21,932 | €1,908 | -€20,024 | -91.3% |
| Trade receivables | 40 | €21,135 | €390 | -€20,745 | -98.2% |
| Other amounts receivable | 41 | €797 | €1,518 | +€721 | +90.5% |
| Cash at bank and in hand | 54/58 | €32,010 | €14,882 | -€17,128 | -53.5% |
| Deferred charges and accrued income | 490/1 | €22,128 | - | -€22,128 | |
| Total equity and liabilities | 10/49 | €4,617,989 | €4,463,645 | -€154,344 | -3.3% |
| Equity | 10/15 | -€387,759 | -€732,911 | -€345,152 | -89.0% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Capital | 10 | €120,000 | €120,000 | = | 0.0% |
| Issued capital | 100 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €12,000 | €12,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Legal reserve | 130 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€519,759 | -€864,911 | -€345,152 | -66.4% |
| Amounts payable | 17/49 | €5,005,748 | €5,196,556 | +€190,809 | +3.8% |
| Amounts payable within one year | 42/48 | €5,005,748 | €5,196,556 | +€190,809 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €2,085,155 | €2,348,663 | +€263,507 | +12.6% |
| Financial debts | 43 | €2,459,952 | €2,459,952 | = | 0.0% |
| Credit institutions | 430/8 | €2,459,952 | €2,459,952 | = | 0.0% |
| Trade debts | 44 | €460,640 | €387,942 | -€72,699 | -15.8% |
| Suppliers | 440/4 | €460,640 | €387,942 | -€72,699 | -15.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €63,323 | €62,451 | -€871 | -1.4% |
| Other operating charges | 640/8 | €71,373 | €46,233 | -€25,140 | -35.2% |
| Gross operating margin | 9900 | -€18,934 | -€63,074 | -€44,140 | -233% |
| Operating profit (loss) | 9901 | -€90,307 | -€109,307 | -€19,000 | -21.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €276,831 | €235,846 | -€40,984 | -14.8% |
| Recurring financial charges | 65 | €276,831 | €235,846 | -€40,984 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | -€367,138 | -€345,152 | +€21,985 | +6.0% |
| Income taxes | 67/77 | €687 | - | -€687 | |
| Profit (loss) for the period | 9904 | -€367,825 | -€345,152 | +€22,672 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€367,825 | -€345,152 | +€22,672 | +6.2% |
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 31 October 2026 via checked.be.