ARDA: 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.
What changed
ARDA
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€388,446
2024 · €411,179-€22,733
Equity
€7.4m
2024 · €7.2m+€228,229
Cash
€566,990
2024 · €417,917+€149,073
Balance sheet total
€8.4m
2024 · €8.2m+€200,846
Largest movements
Assets
- Current investments +€803,169
new in 2025: €803,169
- Receivables within one year -€536,193
down €536,193 (-15.5%), from €3.5m to €2.9m
of which Other amounts receivable: -€559,405
- Cash +€149,073
up €149,073 (+35.7%), from €417,917 to €566,990
mainly Receivables within one year (+€536,193) and Net result for the year (+€388,446)
- Tangible fixed assets -€141,909
down €141,909 (-5.4%), from €2.6m to €2.5m
of which Land and buildings: -€118,642
- Receivables after one year -€91,947
down €91,947 (-69.8%), from €131,665 to €39,718
Equity and liabilities
- Reserves +€228,229
up €228,229 (+3.3%), from €6.9m to €7.1m
of which Distributable reserves: +€273,171
- Other debts +€114,717
up €114,717 (+78.8%), from €145,500 to €260,217
- Debts after one year -€103,532
down €103,532 (-15.7%), from €658,734 to €555,202
Income statement
- Turnover +€78,994
up €78,994 (+13.1%), from €603,329 to €682,323
- Financial income -€57,328
down €57,328 (-35.5%), from €161,564 to €104,236
- Services and other goods +€22,902
up €22,902 (+56.9%), from €40,258 to €63,160
- Financial charges +€13,526
up €13,526 (+109%), from €12,404 to €25,930
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.
Result 2024
€411,179
Turnover
+€78,994
Other operating income
-€2,664
Services and other goods
-€22,902
Depreciation
-€404
Other operating charges
-€1,224
Financial income
-€57,328
Financial charges
-€13,526
Taxes
-€3,679
Result 2025
€388,446
raises the resultlowers the result
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.
From operations
+€1.2m
Investment
-€803,169
Financing
-€260,165
Cash 2024
€417,917
From operations (derived)
+€1.2m
Net result for the year
+€388,446
Depreciation
+€141,909
Receivables after one year
+€91,947
Receivables within one year
+€536,193
Deferred charges and accrued income
-€18,653
Provisions
-€4,032
Trade debts
-€31,408
Tax, wage and social debts
-€7,518
Other debts
+€114,717
Accrued charges and deferred income
+€806
Investment (derived)
-€803,169
Current investments
-€803,169
Financing
-€260,165
Debts after one year
-€103,532
Current portion of long-term debt
+€3,584
Contributions, distributions and other
-€160,217
Cash 2025
€566,990
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,192,769 | €8,393,615 | +€200,846 | +2.5% |
| Fixed assets | 21/28 | €4,184,418 | €4,042,509 | -€141,909 | -3.4% |
| Tangible fixed assets | 22/27 | €2,609,418 | €2,467,509 | -€141,909 | -5.4% |
| Land and buildings | 22 | €2,300,150 | €2,181,508 | -€118,642 | -5.2% |
| Plant, machinery and equipment | 23 | €309,269 | €286,001 | -€23,267 | -7.5% |
| Financial fixed assets | 28 | €1,575,000 | €1,575,000 | = | 0.0% |
| Affiliated companies | 280/1 | €1,575,000 | €1,575,000 | = | 0.0% |
| Participating interests | 280 | €1,575,000 | €1,575,000 | = | 0.0% |
| Current assets | 29/58 | €4,008,351 | €4,351,106 | +€342,755 | +8.6% |
| Amounts receivable after more than one year | 29 | €131,665 | €39,718 | -€91,947 | -69.8% |
| Other amounts receivable | 291 | €131,665 | €39,718 | -€91,947 | -69.8% |
| Amounts receivable within one year | 40/41 | €3,457,608 | €2,921,415 | -€536,193 | -15.5% |
| Trade receivables | 40 | €126,689 | €149,901 | +€23,213 | +18.3% |
| Other amounts receivable | 41 | €3,330,919 | €2,771,514 | -€559,405 | -16.8% |
| Current investments | 50/53 | - | €803,169 | +€803,169 | |
| Other investments | 51/53 | - | €803,169 | +€803,169 | |
| Cash at bank and in hand | 54/58 | €417,917 | €566,990 | +€149,073 | +35.7% |
| Deferred charges and accrued income | 490/1 | €1,161 | €19,814 | +€18,653 | +1,607% |
| Total equity and liabilities | 10/49 | €8,192,769 | €8,393,615 | +€200,846 | +2.5% |
| Equity | 10/15 | €7,193,863 | €7,422,092 | +€228,229 | +3.2% |
| Contributions | 10/11 | €328,459 | €328,459 | = | 0.0% |
| Capital | 10 | €328,459 | - | -€328,459 | |
| Issued capital | 100 | €328,459 | - | -€328,459 | |
| Reserves | 13 | €6,865,404 | €7,093,633 | +€228,229 | +3.3% |
| Non-distributable reserves | 130/1 | €32,846 | - | -€32,846 | |
| Legal reserve | 130 | €32,846 | - | -€32,846 | |
| Tax-exempt reserves | 132 | €135,249 | €123,153 | -€12,096 | -8.9% |
| Distributable reserves | 133 | €6,697,310 | €6,970,480 | +€273,171 | +4.1% |
| Provisions and deferred taxes | 16 | €45,083 | €41,051 | -€4,032 | -8.9% |
| Deferred taxes | 168 | €45,083 | €41,051 | -€4,032 | -8.9% |
| Amounts payable | 17/49 | €953,823 | €930,472 | -€23,351 | -2.4% |
| Amounts payable after more than one year | 17 | €658,734 | €555,202 | -€103,532 | -15.7% |
| Financial debts | 170/4 | €658,734 | €555,202 | -€103,532 | -15.7% |
| Credit institutions | 173 | €658,734 | €555,202 | -€103,532 | -15.7% |
| Amounts payable within one year | 42/48 | €294,839 | €374,214 | +€79,375 | +26.9% |
| Current portion of amounts payable after more than one year | 42 | €99,948 | €103,532 | +€3,584 | +3.6% |
| Trade debts | 44 | €41,873 | €10,465 | -€31,408 | -75.0% |
| Suppliers | 440/4 | €41,873 | €10,465 | -€31,408 | -75.0% |
| Taxes, remuneration and social security | 45 | €7,518 | - | -€7,518 | |
| Taxes | 450/3 | €7,518 | - | -€7,518 | |
| Other amounts payable | 47/48 | €145,500 | €260,217 | +€114,717 | +78.8% |
| Accrued charges and deferred income | 492/3 | €250 | €1,056 | +€806 | +322% |
| Operating income | 70/76A | €606,779 | €683,110 | +€76,331 | +12.6% |
| Turnover | 70 | €603,329 | €682,323 | +€78,994 | +13.1% |
| Other operating income | 74 | €3,450 | €787 | -€2,664 | -77.2% |
| Operating charges | 60/66A | €218,958 | €243,488 | +€24,530 | +11.2% |
| Services and other goods | 61 | €40,258 | €63,160 | +€22,902 | +56.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,505 | €141,909 | +€404 | +0.3% |
| Other operating charges | 640/8 | €37,195 | €38,419 | +€1,224 | +3.3% |
| Operating profit (loss) | 9901 | €387,821 | €439,622 | +€51,800 | +13.4% |
| Financial income | 75/76B | €161,564 | €104,236 | -€57,328 | -35.5% |
| Recurring financial income | 75 | €161,564 | €104,236 | -€57,328 | -35.5% |
| Income from current assets | 751 | €161,062 | €104,095 | -€56,967 | -35.4% |
| Other financial income | 752/9 | €502 | €140 | -€361 | -72.0% |
| Financial charges | 65/66B | €12,404 | €25,930 | +€13,526 | +109% |
| Recurring financial charges | 65 | €12,404 | €25,930 | +€13,526 | +109% |
| Debt charges | 650 | €10,781 | €25,163 | +€14,382 | +133% |
| Other financial charges | 652/9 | €1,623 | €767 | -€856 | -52.7% |
| Profit (loss) for the period before taxes | 9903 | €536,982 | €517,928 | -€19,054 | -3.5% |
| Transfer from deferred taxes | 780 | €4,032 | €4,032 | = | 0.0% |
| Income taxes | 67/77 | €129,835 | €133,514 | +€3,679 | +2.8% |
| Taxes | 670/3 | €129,835 | €133,514 | +€3,679 | +2.8% |
| Profit (loss) for the period | 9904 | €411,179 | €388,446 | -€22,733 | -5.5% |
| Transfer from tax-exempt reserves | 789 | €12,096 | €12,096 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €423,275 | €400,542 | -€22,733 | -5.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.