ARDA-001: 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.
ARDA-001
Largest movements
- Cash -€20,340
down €20,340 (-30.2%), from €67,451 to €47,111
mainly Net result for the year (-€25,718) and Receivables within one year (-€9,621)
- Tangible fixed assets -€12,647
down €12,647 (-27.3%), from €46,349 to €33,702
of which Furniture and vehicles: -€9,621
- Receivables within one year +€9,621
up €9,621 (+40.8%), from €23,575 to €33,196
of which Trade receivables: +€7,569
- Profit (loss) carried forward -€25,718
down €25,718 (-49.8%), from -€51,628 to -€77,345
- Trade debts +€7,309
up €7,309 (+11,244%), from €65 to €7,374
- Current portion of long-term debt -€2,361
down €2,361 (-57.0%), from €4,140 to €1,779
- Debts after one year -€2,040
no longer reported in 2025 (was €2,040)
- Gross operating margin +€20,646
up €20,646 (+64.4%), from -€32,038 to -€11,392
- Other operating charges -€3,281
down €3,281 (-79.5%), from €4,129 to €848
- Financial charges -€954
down €954 (-53.2%), from €1,793 to €839
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 | €137,375 | €114,564 | -€22,810 | -16.6% |
| Fixed assets | 21/28 | €46,349 | €33,702 | -€12,647 | -27.3% |
| Tangible fixed assets | 22/27 | €46,349 | €33,702 | -€12,647 | -27.3% |
| Furniture and vehicles | 24 | €37,269 | €27,649 | -€9,621 | -25.8% |
| Leasing and similar rights | 25 | €9,080 | €6,053 | -€3,027 | -33.3% |
| Current assets | 29/58 | €91,026 | €80,863 | -€10,163 | -11.2% |
| Amounts receivable within one year | 40/41 | €23,575 | €33,196 | +€9,621 | +40.8% |
| Trade receivables | 40 | €717 | €8,286 | +€7,569 | +1,055% |
| Other amounts receivable | 41 | €22,857 | €24,910 | +€2,052 | +9.0% |
| Cash at bank and in hand | 54/58 | €67,451 | €47,111 | -€20,340 | -30.2% |
| Deferred charges and accrued income | 490/1 | - | €555 | +€555 | |
| Total equity and liabilities | 10/49 | €137,375 | €114,564 | -€22,810 | -16.6% |
| Equity | 10/15 | €131,129 | €105,411 | -€25,718 | -19.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €176,557 | €176,557 | = | 0.0% |
| Distributable reserves | 133 | €176,557 | €176,557 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,628 | -€77,345 | -€25,718 | -49.8% |
| Amounts payable | 17/49 | €6,246 | €9,153 | +€2,908 | +46.6% |
| Amounts payable after more than one year | 17 | €2,040 | - | -€2,040 | |
| Financial debts | 170/4 | €2,040 | - | -€2,040 | |
| Amounts payable within one year | 42/48 | €4,205 | €9,153 | +€4,948 | +118% |
| Current portion of amounts payable after more than one year | 42 | €4,140 | €1,779 | -€2,361 | -57.0% |
| Trade debts | 44 | €65 | €7,374 | +€7,309 | +11,244% |
| Suppliers | 440/4 | €65 | €7,374 | +€7,309 | +11,244% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,962 | €12,647 | -€315 | -2.4% |
| Other operating charges | 640/8 | €4,129 | €848 | -€3,281 | -79.5% |
| Non-recurring operating charges | 66A | €433 | - | -€433 | |
| Gross operating margin | 9900 | -€32,038 | -€11,392 | +€20,646 | +64.4% |
| Operating profit (loss) | 9901 | -€49,562 | -€24,887 | +€24,675 | +49.8% |
| Financial income | 75/76B | €0 | €9 | +€9 | +8,100% |
| Recurring financial income | 75 | €0 | €9 | +€9 | +8,100% |
| Financial charges | 65/66B | €1,793 | €839 | -€954 | -53.2% |
| Recurring financial charges | 65 | €1,793 | €839 | -€954 | -53.2% |
| Profit (loss) for the period before taxes | 9903 | -€51,356 | -€25,718 | +€25,638 | +49.9% |
| Income taxes | 67/77 | €272 | - | -€272 | |
| Profit (loss) for the period | 9904 | -€51,628 | -€25,718 | +€25,910 | +50.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,628 | -€25,718 | +€25,910 | +50.2% |
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 27 October 2026 via checked.be.