ARDEA: what changed
Two fiscal 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.
ARDEA
Largest movements
- Receivables within one year +€80,992
up €80,992 (+245.8%), from €32,946 to €113,938
of which Trade receivables: +€69,484
- Cash +€28,596
up €28,596 (+2913.0%), from €982 to €29,578
mainly Other debts (+€509,634) and Trade debts (+€45,733)
- Other debts +€509,634
up €509,634 (+142.0%), from €358,920 to €868,554
- Profit (loss) carried forward -€441,957
down €441,957 (-101.0%), from -€437,559 to -€879,515
- Trade debts +€45,733
up €45,733 (+93.9%), from €48,708 to €94,441
- Accrued charges and deferred income -€3,680
down €3,680 (-62.1%), from €5,930 to €2,250
- Gross operating margin -€103,702
down €103,702 (-33.3%), from -€311,614 to -€415,316
- Financial charges +€13,889
up €13,889 (+115.1%), from €12,069 to €25,958
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.
Cash bridge derived
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 | €37,499 | €147,230 | +€109,731 | +292.6% |
| Formation expenses | 20 | €977 | €694 | -€283 | -29.0% |
| Current assets | 29/58 | €36,522 | €146,536 | +€110,014 | +301.2% |
| Amounts receivable within one year | 40/41 | €32,946 | €113,938 | +€80,992 | +245.8% |
| Trade receivables | 40 | €10,761 | €80,245 | +€69,484 | +645.7% |
| Other amounts receivable | 41 | €22,186 | €33,694 | +€11,508 | +51.9% |
| Cash at bank and in hand | 54/58 | €982 | €29,578 | +€28,596 | +2913.0% |
| Deferred charges and accrued income | 490/1 | €2,594 | €3,020 | +€425 | +16.4% |
| Total equity and liabilities | 10/49 | €37,499 | €147,230 | +€109,731 | +292.6% |
| Equity | 10/15 | -€376,059 | -€818,015 | -€441,957 | -117.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€437,559 | -€879,515 | -€441,957 | -101.0% |
| Amounts payable | 17/49 | €413,558 | €965,246 | +€551,687 | +133.4% |
| Amounts payable within one year | 42/48 | €407,628 | €962,995 | +€555,367 | +136.2% |
| Trade debts | 44 | €48,708 | €94,441 | +€45,733 | +93.9% |
| Suppliers | 440/4 | €48,708 | €94,441 | +€45,733 | +93.9% |
| Other amounts payable | 47/48 | €358,920 | €868,554 | +€509,634 | +142.0% |
| Accrued charges and deferred income | 492/3 | €5,930 | €2,250 | -€3,680 | -62.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €283 | €283 | +€0 | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€311,614 | -€415,316 | -€103,702 | -33.3% |
| Operating profit (loss) | 9901 | -€312,284 | -€415,999 | -€103,715 | -33.2% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €12,069 | €25,958 | +€13,889 | +115.1% |
| Recurring financial charges | 65 | €12,069 | €25,958 | +€13,889 | +115.1% |
| Profit (loss) for the period before taxes | 9903 | -€324,352 | -€441,957 | -€117,604 | -36.3% |
| Profit (loss) for the period | 9904 | -€324,352 | -€441,957 | -€117,604 | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€324,352 | -€441,957 | -€117,604 | -36.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.