Ardaen Group: 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.
Ardaen Group
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Receivables within one year +€33,000
up €33,000 (+194%), from €17,000 to €50,000
- Cash +€26,482
up €26,482 (+2,345%), from €1,129 to €27,611
mainly Net result for the year (+€92,510) and Depreciation (+€12,313)
- Tangible fixed assets -€12,313
down €12,313 (-3.9%), from €312,382 to €300,069
- Reserves +€92,510
up €92,510 (+152%), from €60,806 to €153,316
- Debts after one year -€14,208
down €14,208 (-6.1%), from €234,601 to €220,394
- Tax, wage and social debts +€12,139
up €12,139 (+73.6%), from €16,490 to €28,629
of which Taxes: +€9,268
- Trade debts +€5,236
up €5,236 (+530%), from €988 to €6,224
- Other operating charges -€38,895
down €38,895 (-97.5%), from €39,872 to €977
- Gross operating margin +€9,716
up €9,716 (+7.4%), from €132,094 to €141,810
- Taxes +€9,268
up €9,268 (+56.2%), from €16,490 to €25,758
- Depreciation +€6,415
up €6,415 (+109%), from €5,898 to €12,313
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 | €332,252 | €429,249 | +€96,998 | +29.2% |
| Fixed assets | 21/28 | €313,882 | €301,569 | -€12,313 | -3.9% |
| Tangible fixed assets | 22/27 | €312,382 | €300,069 | -€12,313 | -3.9% |
| Land and buildings | 22 | €312,382 | €300,069 | -€12,313 | -3.9% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €18,370 | €127,680 | +€109,310 | +595% |
| Amounts receivable within one year | 40/41 | €17,000 | €50,000 | +€33,000 | +194% |
| Trade receivables | 40 | €17,000 | €50,000 | +€33,000 | +194% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €1,129 | €27,611 | +€26,482 | +2,345% |
| Deferred charges and accrued income | 490/1 | €241 | €69 | -€172 | -71.4% |
| Total equity and liabilities | 10/49 | €332,252 | €429,249 | +€96,998 | +29.2% |
| Equity | 10/15 | €63,806 | €156,316 | +€92,510 | +145% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €60,806 | €153,316 | +€92,510 | +152% |
| Distributable reserves | 133 | €60,806 | €153,316 | +€92,510 | +152% |
| Amounts payable | 17/49 | €268,445 | €272,933 | +€4,487 | +1.7% |
| Amounts payable after more than one year | 17 | €234,601 | €220,394 | -€14,208 | -6.1% |
| Financial debts | 170/4 | €234,601 | €220,394 | -€14,208 | -6.1% |
| Amounts payable within one year | 42/48 | €33,844 | €52,539 | +€18,695 | +55.2% |
| Current portion of amounts payable after more than one year | 42 | €13,774 | €14,208 | +€433 | +3.1% |
| Trade debts | 44 | €988 | €6,224 | +€5,236 | +530% |
| Suppliers | 440/4 | €988 | €6,224 | +€5,236 | +530% |
| Taxes, remuneration and social security | 45 | €16,490 | €28,629 | +€12,139 | +73.6% |
| Taxes | 450/3 | €16,490 | €25,758 | +€9,268 | +56.2% |
| Remuneration and social security | 454/9 | - | €2,872 | +€2,872 | |
| Other amounts payable | 47/48 | €2,592 | €3,478 | +€887 | +34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,898 | €12,313 | +€6,415 | +109% |
| Other operating charges | 640/8 | €39,872 | €977 | -€38,895 | -97.5% |
| Gross operating margin | 9900 | €132,094 | €141,810 | +€9,716 | +7.4% |
| Operating profit (loss) | 9901 | €86,324 | €128,520 | +€42,196 | +48.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | +4,000% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +4,000% |
| Financial charges | 65/66B | €9,028 | €10,252 | +€1,225 | +13.6% |
| Recurring financial charges | 65 | €9,028 | €10,252 | +€1,225 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €77,296 | €118,268 | +€40,972 | +53.0% |
| Income taxes | 67/77 | €16,490 | €25,758 | +€9,268 | +56.2% |
| Profit (loss) for the period | 9904 | €60,806 | €92,510 | +€31,704 | +52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €60,806 | €92,510 | +€31,704 | +52.1% |
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 21 October 2026 via checked.be.