ARDEECON: 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.
ARDEECON
Largest movements
- Cash +€70,514
up €70,514 (+422.6%), from €16,687 to €87,201
mainly Net result for the year (+€51,737) and Receivables within one year (+€19,039)
- Receivables within one year -€19,039
down €19,039 (-41.3%), from €46,152 to €27,113
of which Trade receivables: -€19,797
- Profit (loss) carried forward +€51,737
up €51,737 (+59.1%), from €87,600 to €139,337
- Gross operating margin +€16,797
up €16,797 (+30.4%), from €55,176 to €71,973
- Taxes +€2,919
up €2,919 (+25.8%), from €11,323 to €14,242
- Depreciation +€2,661
up €2,661 (+72.5%), from €3,670 to €6,331
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 | €105,067 | €156,671 | +€51,603 | +49.1% |
| Fixed assets | 21/28 | €34,367 | €35,059 | +€692 | +2.0% |
| Tangible fixed assets | 22/27 | €34,367 | €35,059 | +€692 | +2.0% |
| Land and buildings | 22 | €26,149 | €28,785 | +€2,636 | +10.1% |
| Plant, machinery and equipment | 23 | €1,055 | €552 | -€504 | -47.7% |
| Furniture and vehicles | 24 | €7,163 | €5,723 | -€1,440 | -20.1% |
| Current assets | 29/58 | €70,700 | €121,611 | +€50,911 | +72.0% |
| Amounts receivable after more than one year | 29 | €3,000 | €3,000 | = | 0.0% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €3,000 | €3,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €46,152 | €27,113 | -€19,039 | -41.3% |
| Trade receivables | 40 | €38,573 | €18,776 | -€19,797 | -51.3% |
| Other amounts receivable | 41 | €7,579 | €8,338 | +€758 | +10.0% |
| Current investments | 50/53 | €4,000 | €4,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,687 | €87,201 | +€70,514 | +422.6% |
| Deferred charges and accrued income | 490/1 | €861 | €297 | -€564 | -65.5% |
| Total equity and liabilities | 10/49 | €105,067 | €156,671 | +€51,603 | +49.1% |
| Equity | 10/15 | €90,100 | €141,837 | +€51,737 | +57.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,600 | €139,337 | +€51,737 | +59.1% |
| Amounts payable | 17/49 | €14,967 | €14,834 | -€134 | -0.9% |
| Amounts payable within one year | 42/48 | €14,967 | €14,834 | -€134 | -0.9% |
| Trade debts | 44 | €822 | €1,544 | +€722 | +87.8% |
| Suppliers | 440/4 | €822 | €1,544 | +€722 | +87.8% |
| Taxes, remuneration and social security | 45 | €13,286 | €13,290 | +€4 | 0.0% |
| Taxes | 450/3 | €13,286 | €13,290 | +€4 | 0.0% |
| Other amounts payable | 47/48 | €859 | €0 | -€859 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,670 | €6,331 | +€2,661 | +72.5% |
| Other operating charges | 640/8 | - | €63 | +€63 | |
| Gross operating margin | 9900 | €55,176 | €71,973 | +€16,797 | +30.4% |
| Operating profit (loss) | 9901 | €51,507 | €65,579 | +€14,073 | +27.3% |
| Financial income | 75/76B | €347 | €472 | +€125 | +36.2% |
| Recurring financial income | 75 | €347 | €472 | +€125 | +36.2% |
| Financial charges | 65/66B | €50 | €72 | +€23 | +45.8% |
| Recurring financial charges | 65 | €50 | €72 | +€23 | +45.8% |
| Profit (loss) for the period before taxes | 9903 | €51,804 | €65,979 | +€14,175 | +27.4% |
| Income taxes | 67/77 | €11,323 | €14,242 | +€2,919 | +25.8% |
| Profit (loss) for the period | 9904 | €40,481 | €51,737 | +€11,256 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,481 | €51,737 | +€11,256 | +27.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.