ARDEAM: 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.
ARDEAM
Largest movements
- Cash +€113,747
up €113,747 (+437%), from €26,028 to €139,774
mainly Other debts (+€119,087) and Current investments (+€100,000)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets +€37,103
up €37,103 (+1,212%), from €3,061 to €40,164
of which Furniture and vehicles: +€36,144
- Other debts +€119,087
up €119,087 (+80.2%), from €148,564 to €267,651
- Reserves -€87,722
down €87,722 (-33.4%), from €262,903 to €175,182
of which Distributable reserves: -€87,722
- Debts after one year +€16,845
new in 2025: €16,845
- Current portion of long-term debt +€12,960
new in 2025: €12,960
- Tax, wage and social debts -€6,369
down €6,369 (-14.3%), from €44,505 to €38,135
of which Taxes: -€8,537
- Gross operating margin +€41,572
up €41,572 (+106%), from €39,037 to €80,608
- Depreciation +€7,545
up €7,545 (+875%), from €862 to €8,407
- Financial income +€6,372
up €6,372 (+37.6%), from €16,939 to €23,311
- Financial charges +€4,968
up €4,968 (+1,611%), from €308 to €5,276
- Taxes +€3,311
up €3,311 (+22.3%), from €14,833 to €18,144
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 | €475,065 | €529,655 | +€54,590 | +11.5% |
| Fixed assets | 21/28 | €62,561 | €99,664 | +€37,103 | +59.3% |
| Tangible fixed assets | 22/27 | €3,061 | €40,164 | +€37,103 | +1,212% |
| Land and buildings | 22 | €2,273 | €2,021 | -€253 | -11.1% |
| Plant, machinery and equipment | 23 | - | €1,212 | +€1,212 | |
| Furniture and vehicles | 24 | €787 | €36,932 | +€36,144 | +4,590% |
| Financial fixed assets | 28 | €59,500 | €59,500 | = | 0.0% |
| Current assets | 29/58 | €412,504 | €429,991 | +€17,486 | +4.2% |
| Amounts receivable within one year | 40/41 | €285,400 | €287,808 | +€2,407 | +0.8% |
| Trade receivables | 40 | €28,558 | €11,979 | -€16,579 | -58.1% |
| Other amounts receivable | 41 | €256,843 | €275,829 | +€18,986 | +7.4% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €26,028 | €139,774 | +€113,747 | +437% |
| Deferred charges and accrued income | 490/1 | €1,076 | €2,408 | +€1,333 | +124% |
| Total equity and liabilities | 10/49 | €475,065 | €529,655 | +€54,590 | +11.5% |
| Equity | 10/15 | €281,503 | €193,782 | -€87,722 | -31.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €262,903 | €175,182 | -€87,722 | -33.4% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €620 | €620 | = | 0.0% |
| Distributable reserves | 133 | €262,283 | €174,562 | -€87,722 | -33.4% |
| Amounts payable | 17/49 | €193,562 | €335,873 | +€142,312 | +73.5% |
| Amounts payable after more than one year | 17 | - | €16,845 | +€16,845 | |
| Financial debts | 170/4 | - | €16,845 | +€16,845 | |
| Amounts payable within one year | 42/48 | €193,280 | €318,747 | +€125,466 | +64.9% |
| Current portion of amounts payable after more than one year | 42 | - | €12,960 | +€12,960 | |
| Trade debts | 44 | €212 | - | -€212 | |
| Suppliers | 440/4 | €212 | - | -€212 | |
| Taxes, remuneration and social security | 45 | €44,505 | €38,135 | -€6,369 | -14.3% |
| Taxes | 450/3 | €39,306 | €30,769 | -€8,537 | -21.7% |
| Remuneration and social security | 454/9 | €5,199 | €7,366 | +€2,167 | +41.7% |
| Other amounts payable | 47/48 | €148,564 | €267,651 | +€119,087 | +80.2% |
| Accrued charges and deferred income | 492/3 | €281 | €281 | = | 0.0% |
| Non-recurring operating income | 76A | €11,000 | - | -€11,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €862 | €8,407 | +€7,545 | +875% |
| Other operating charges | 640/8 | €549 | - | -€549 | |
| Gross operating margin | 9900 | €39,037 | €80,608 | +€41,572 | +106% |
| Operating profit (loss) | 9901 | €37,626 | €72,201 | +€34,576 | +91.9% |
| Financial income | 75/76B | €16,939 | €23,311 | +€6,372 | +37.6% |
| Recurring financial income | 75 | €16,939 | €23,311 | +€6,372 | +37.6% |
| Financial charges | 65/66B | €308 | €5,276 | +€4,968 | +1,611% |
| Recurring financial charges | 65 | €308 | €5,276 | +€4,968 | +1,611% |
| Profit (loss) for the period before taxes | 9903 | €54,256 | €90,236 | +€35,980 | +66.3% |
| Income taxes | 67/77 | €14,833 | €18,144 | +€3,311 | +22.3% |
| Profit (loss) for the period | 9904 | €39,423 | €72,092 | +€32,669 | +82.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,423 | €72,092 | +€32,669 | +82.9% |
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 17 October 2026 via checked.be.