ARD Management: what changed
Two fiscal 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.
ARD Management
Largest movements
- Receivables within one year -€67,688
down €67,688 (-100.0%), from €67,688 to €0
- Other debts -€57,035
down €57,035 (-81.1%), from €70,347 to €13,312
- Profit (loss) carried forward -€10,665
down €10,665 (-348.8%), from -€3,057 to -€13,723
- Gross operating margin -€5,519
down €5,519 (-160.5%), from -€3,439 to -€8,958
- Financial charges +€2,108
new in 2025: €2,108
- Financial income +€1,073
up €1,073 (+281.6%), from €381 to €1,454
- Other operating charges +€1,054
new in 2025: €1,054
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.
Cash bridge derived
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 | €68,290 | €630 | -€67,660 | -99.1% |
| Current assets | 29/58 | €68,290 | €630 | -€67,660 | -99.1% |
| Amounts receivable within one year | 40/41 | €67,688 | €0 | -€67,688 | -100.0% |
| Other amounts receivable | 41 | €67,688 | €0 | -€67,688 | -100.0% |
| Cash at bank and in hand | 54/58 | €602 | €630 | +€28 | +4.6% |
| Total equity and liabilities | 10/49 | €68,290 | €630 | -€67,660 | -99.1% |
| Equity | 10/15 | -€2,057 | -€12,723 | -€10,665 | -518.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,057 | -€13,723 | -€10,665 | -348.8% |
| Amounts payable | 17/49 | €70,347 | €13,352 | -€56,995 | -81.0% |
| Amounts payable within one year | 42/48 | €70,347 | €13,352 | -€56,995 | -81.0% |
| Trade debts | 44 | - | €41 | +€41 | |
| Suppliers | 440/4 | - | €41 | +€41 | |
| Other amounts payable | 47/48 | €70,347 | €13,312 | -€57,035 | -81.1% |
| Other operating charges | 640/8 | - | €1,054 | +€1,054 | |
| Gross operating margin | 9900 | -€3,439 | -€8,958 | -€5,519 | -160.5% |
| Operating profit (loss) | 9901 | -€3,439 | -€10,011 | -€6,573 | -191.2% |
| Financial income | 75/76B | €381 | €1,454 | +€1,073 | +281.6% |
| Recurring financial income | 75 | €381 | €1,454 | +€1,073 | +281.6% |
| Financial charges | 65/66B | - | €2,108 | +€2,108 | |
| Recurring financial charges | 65 | - | €2,108 | +€2,108 | |
| Profit (loss) for the period before taxes | 9903 | -€3,057 | -€10,665 | -€7,608 | -248.8% |
| Profit (loss) for the period | 9904 | -€3,057 | -€10,665 | -€7,608 | -248.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,057 | -€10,665 | -€7,608 | -248.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.