ARDANO: 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.
ARDANO
Largest movements
- Receivables within one year +€66,072
up €66,072 (+22.4%), from €295,525 to €361,596
of which Other amounts receivable: +€95,210
- Tangible fixed assets +€24,162
up €24,162 (+35.6%), from €67,788 to €91,951
of which Furniture and vehicles: +€27,797
- Debts after one year +€40,897
up €40,897 (+213%), from €19,206 to €60,103
- Reserves +€21,159
up €21,159 (+9.4%), from €226,105 to €247,265
- Short-term financial debts +€20,881
new in 2025: €20,881
- Tax, wage and social debts -€17,570
down €17,570 (-36.3%), from €48,414 to €30,845
of which Taxes: -€13,798
- Trade debts +€17,143
up €17,143 (+35.1%), from €48,860 to €66,003
- Gross operating margin -€185,602
down €185,602 (-58.7%), from €316,177 to €130,575
- Staff costs -€51,644
down €51,644 (-44.8%), from €115,376 to €63,732
- Taxes -€31,329
down €31,329 (-77.0%), from €40,695 to €9,366
- Depreciation -€17,117
down €17,117 (-44.9%), from €38,160 to €21,043
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 | €374,716 | €465,052 | +€90,335 | +24.1% |
| Fixed assets | 21/28 | €69,388 | €93,551 | +€24,162 | +34.8% |
| Tangible fixed assets | 22/27 | €67,788 | €91,951 | +€24,162 | +35.6% |
| Plant, machinery and equipment | 23 | €7,636 | €4,002 | -€3,635 | -47.6% |
| Furniture and vehicles | 24 | €60,152 | €87,949 | +€27,797 | +46.2% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €305,328 | €371,501 | +€66,173 | +21.7% |
| Amounts receivable within one year | 40/41 | €295,525 | €361,596 | +€66,072 | +22.4% |
| Trade receivables | 40 | €167,475 | €138,337 | -€29,138 | -17.4% |
| Other amounts receivable | 41 | €128,050 | €223,260 | +€95,210 | +74.4% |
| Cash at bank and in hand | 54/58 | €3,934 | €6,621 | +€2,687 | +68.3% |
| Deferred charges and accrued income | 490/1 | €5,869 | €3,284 | -€2,585 | -44.0% |
| Total equity and liabilities | 10/49 | €374,716 | €465,052 | +€90,335 | +24.1% |
| Equity | 10/15 | €231,105 | €252,265 | +€21,159 | +9.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €226,105 | €247,265 | +€21,159 | +9.4% |
| Distributable reserves | 133 | €226,105 | €247,265 | +€21,159 | +9.4% |
| Amounts payable | 17/49 | €143,611 | €212,787 | +€69,176 | +48.2% |
| Amounts payable after more than one year | 17 | €19,206 | €60,103 | +€40,897 | +213% |
| Financial debts | 170/4 | €19,206 | €60,103 | +€40,897 | +213% |
| Amounts payable within one year | 42/48 | €123,282 | €151,088 | +€27,806 | +22.6% |
| Current portion of amounts payable after more than one year | 42 | €26,008 | €30,360 | +€4,352 | +16.7% |
| Financial debts | 43 | - | €20,881 | +€20,881 | |
| Credit institutions | 430/8 | - | €20,881 | +€20,881 | |
| Trade debts | 44 | €48,860 | €66,003 | +€17,143 | +35.1% |
| Suppliers | 440/4 | €48,860 | €66,003 | +€17,143 | +35.1% |
| Advances received on contracts in progress | 46 | - | €3,000 | +€3,000 | |
| Taxes, remuneration and social security | 45 | €48,414 | €30,845 | -€17,570 | -36.3% |
| Taxes | 450/3 | €42,272 | €28,475 | -€13,798 | -32.6% |
| Remuneration and social security | 454/9 | €6,142 | €2,370 | -€3,772 | -61.4% |
| Accrued charges and deferred income | 492/3 | €1,123 | €1,596 | +€473 | +42.1% |
| Remuneration, social security and pensions | 62 | €115,376 | €63,732 | -€51,644 | -44.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,160 | €21,043 | -€17,117 | -44.9% |
| Other operating charges | 640/8 | €2,134 | €3,156 | +€1,022 | +47.9% |
| Non-recurring operating charges | 66A | €0 | €9,997 | +€9,997 | |
| Gross operating margin | 9900 | €316,177 | €130,575 | -€185,602 | -58.7% |
| Operating profit (loss) | 9901 | €160,507 | €32,647 | -€127,860 | -79.7% |
| Financial income | 75/76B | €69 | €400 | +€331 | +476% |
| Recurring financial income | 75 | €69 | €400 | +€331 | +476% |
| Financial charges | 65/66B | €3,287 | €2,521 | -€766 | -23.3% |
| Recurring financial charges | 65 | €3,287 | €2,521 | -€766 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €157,289 | €30,526 | -€126,763 | -80.6% |
| Income taxes | 67/77 | €40,695 | €9,366 | -€31,329 | -77.0% |
| Profit (loss) for the period | 9904 | €116,594 | €21,159 | -€95,435 | -81.9% |
| Profit (loss) for the period to be appropriated | 9905 | €116,594 | €21,159 | -€95,435 | -81.9% |
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 27 October 2026 via checked.be.