ARDEBO: 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.
ARDEBO
Largest movements
- Cash -€107,130
down €107,130 (-44.0%), from €243,498 to €136,368
mainly Contributions, distributions and other (-€540,000) and Receivables within one year (-€6,000)
- Profit (loss) carried forward -€232,361
down €232,361 (-78.4%), from €296,449 to €64,089
- Other debts +€138,919
up €138,919 (+21.5%), from €647,503 to €786,423
- Financial income +€48,000
up €48,000 (+66.7%), from €72,000 to €120,000
- Gross operating margin -€37,319
down €37,319 (-12.7%), from €294,675 to €257,356
- Taxes -€4,100
down €4,100 (-6.1%), from €66,777 to €62,677
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 | €972,548 | €875,432 | -€97,116 | -10.0% |
| Fixed assets | 21/28 | €630,050 | €634,064 | +€4,014 | +0.6% |
| Tangible fixed assets | 22/27 | €0 | €4,014 | +€4,014 | |
| Plant, machinery and equipment | 23 | - | €2,836 | +€2,836 | |
| Furniture and vehicles | 24 | €0 | €1,178 | +€1,178 | |
| Financial fixed assets | 28 | €630,050 | €630,050 | = | 0.0% |
| Current assets | 29/58 | €342,498 | €241,368 | -€101,130 | -29.5% |
| Amounts receivable within one year | 40/41 | €99,000 | €105,000 | +€6,000 | +6.1% |
| Trade receivables | 40 | €99,000 | €105,000 | +€6,000 | +6.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €243,498 | €136,368 | -€107,130 | -44.0% |
| Total equity and liabilities | 10/49 | €972,548 | €875,432 | -€97,116 | -10.0% |
| Equity | 10/15 | €316,909 | €84,549 | -€232,361 | -73.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €296,449 | €64,089 | -€232,361 | -78.4% |
| Amounts payable | 17/49 | €655,639 | €790,884 | +€135,245 | +20.6% |
| Amounts payable within one year | 42/48 | €655,639 | €790,884 | +€135,245 | +20.6% |
| Trade debts | 44 | €1,358 | €1,784 | +€426 | +31.4% |
| Suppliers | 440/4 | €1,358 | €1,784 | +€426 | +31.4% |
| Taxes, remuneration and social security | 45 | €6,777 | €2,677 | -€4,100 | -60.5% |
| Taxes | 450/3 | €6,777 | €2,677 | -€4,100 | -60.5% |
| Other amounts payable | 47/48 | €647,503 | €786,423 | +€138,919 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €545 | +€545 | |
| Other operating charges | 640/8 | €1,974 | €2,045 | +€71 | +3.6% |
| Gross operating margin | 9900 | €294,675 | €257,356 | -€37,319 | -12.7% |
| Operating profit (loss) | 9901 | €292,701 | €254,766 | -€37,934 | -13.0% |
| Financial income | 75/76B | €72,000 | €120,000 | +€48,000 | +66.7% |
| Recurring financial income | 75 | €72,000 | €120,000 | +€48,000 | +66.7% |
| Financial charges | 65/66B | €4,217 | €4,451 | +€233 | +5.5% |
| Recurring financial charges | 65 | €4,217 | €4,451 | +€233 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €360,483 | €370,316 | +€9,832 | +2.7% |
| Income taxes | 67/77 | €66,777 | €62,677 | -€4,100 | -6.1% |
| Profit (loss) for the period | 9904 | €293,706 | €307,639 | +€13,933 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €293,706 | €307,639 | +€13,933 | +4.7% |
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 30 September 2026 via checked.be.