Ardama: 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.
Ardama
Largest movements
- Cash -€2,959
down €2,959 (-58.5%), from €5,055 to €2,095
- Receivables within one year -€1,621
no longer reported in 2025 (was €1,621)
- Tangible fixed assets -€811
down €811 (-73.0%), from €1,111 to €300
- Profit (loss) carried forward -€10,829
down €10,829 (-9.0%), from -€120,948 to -€131,778
- Other debts +€8,279
up €8,279 (+22.5%), from €36,732 to €45,011
- Accrued charges and deferred income -€2,829
no longer reported in 2025 (was €2,829)
- Advances received +€2,053
new in 2025: €2,053
- Trade debts -€1,796
down €1,796 (-22.6%), from €7,956 to €6,159
- Gross operating margin -€5,497
down €5,497 (-245%), from -€2,248 to -€7,745
- Depreciation -€1,708
down €1,708 (-94.5%), from €1,808 to €100
- Financial income -€178
no longer reported in 2025 (was €178)
- Financial charges -€150
down €150 (-55.7%), from €269 to €119
- Taxes -€142
down €142 (-51.6%), from €275 to €133
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,787 | €2,395 | -€5,392 | -69.2% |
| Fixed assets | 21/28 | €1,111 | €300 | -€811 | -73.0% |
| Tangible fixed assets | 22/27 | €1,111 | €300 | -€811 | -73.0% |
| Plant, machinery and equipment | 23 | €1,111 | €300 | -€811 | -73.0% |
| Current assets | 29/58 | €6,676 | €2,095 | -€4,581 | -68.6% |
| Amounts receivable within one year | 40/41 | €1,621 | - | -€1,621 | |
| Trade receivables | 40 | €1,621 | - | -€1,621 | |
| Cash at bank and in hand | 54/58 | €5,055 | €2,095 | -€2,959 | -58.5% |
| Total equity and liabilities | 10/49 | €7,787 | €2,395 | -€5,392 | -69.2% |
| Equity | 10/15 | -€102,348 | -€113,178 | -€10,829 | -10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€120,948 | -€131,778 | -€10,829 | -9.0% |
| Amounts payable | 17/49 | €110,135 | €115,573 | +€5,438 | +4.9% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €57,307 | €65,573 | +€8,266 | +14.4% |
| Trade debts | 44 | €7,956 | €6,159 | -€1,796 | -22.6% |
| Suppliers | 440/4 | €7,956 | €6,159 | -€1,796 | -22.6% |
| Advances received on contracts in progress | 46 | - | €2,053 | +€2,053 | |
| Taxes, remuneration and social security | 45 | €12,619 | €12,350 | -€269 | -2.1% |
| Taxes | 450/3 | €12,619 | €12,350 | -€269 | -2.1% |
| Other amounts payable | 47/48 | €36,732 | €45,011 | +€8,279 | +22.5% |
| Accrued charges and deferred income | 492/3 | €2,829 | - | -€2,829 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,808 | €100 | -€1,708 | -94.5% |
| Other operating charges | 640/8 | €312 | €453 | +€141 | +45.4% |
| Gross operating margin | 9900 | -€2,248 | -€7,745 | -€5,497 | -245% |
| Operating profit (loss) | 9901 | -€4,368 | -€8,298 | -€3,930 | -90.0% |
| Financial income | 75/76B | €178 | - | -€178 | |
| Recurring financial income | 75 | €178 | - | -€178 | |
| Financial charges | 65/66B | €269 | €119 | -€150 | -55.7% |
| Recurring financial charges | 65 | €269 | €119 | -€150 | -55.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,459 | -€8,417 | -€3,958 | -88.8% |
| Income taxes | 67/77 | €275 | €133 | -€142 | -51.6% |
| Profit (loss) for the period | 9904 | -€4,734 | -€8,550 | -€3,816 | -80.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,734 | -€8,550 | -€3,816 | -80.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.