Ardeel Electrics: what changed
Ardeel Electrics
Largest movements
- Stocks and contracts +€772,416
up €772,416 (+67.3%), from €1.1m to €1.9m
of which Contracts in progress: +€829,135
- Cash +€62,375
up €62,375 (+19.0%), from €327,911 to €390,286
mainly Net result for the year (+€659,090) and Trade debts (+€211,710)
- Intangible fixed assets +€49,390
up €49,390 (+97.6%), from €50,601 to €99,992
- Receivables within one year +€42,269
up €42,269 (+4.4%), from €958,270 to €1.0m
of which Other amounts receivable: +€33,420
- Reserves +€659,090
up €659,090 (+55.8%), from €1.2m to €1.8m
- Trade debts +€211,710
up €211,710 (+27.8%), from €761,468 to €973,179
- Tax, wage and social debts +€36,416
up €36,416 (+228%), from €15,940 to €52,357
of which Taxes: +€22,613
- Gross operating margin +€216,593
up €216,593 (+27.8%), from €777,824 to €994,417
- Taxes +€79,185
up €79,185 (+53.6%), from €147,835 to €227,020
- Staff costs -€74,452
down €74,452 (-46.9%), from €158,835 to €84,383
- Financial income +€19,626
up €19,626 (+92.9%), from €21,124 to €40,750
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,569,621 | €3,475,210 | +€905,590 | +35.2% |
| Fixed assets | 21/28 | €114,209 | €128,925 | +€14,716 | +12.9% |
| Intangible fixed assets | 21 | €50,601 | €99,992 | +€49,390 | +97.6% |
| Tangible fixed assets | 22/27 | €63,608 | €28,894 | -€34,714 | -54.6% |
| Plant, machinery and equipment | 23 | €19,489 | €7,513 | -€11,976 | -61.4% |
| Furniture and vehicles | 24 | €44,119 | €21,381 | -€22,739 | -51.5% |
| Financial fixed assets | 28 | - | €40 | +€40 | |
| Current assets | 29/58 | €2,455,411 | €3,346,285 | +€890,873 | +36.3% |
| Stocks and contracts in progress | 3 | €1,148,145 | €1,920,561 | +€772,416 | +67.3% |
| Stocks | 30/36 | €392,302 | €335,583 | -€56,719 | -14.5% |
| Contracts in progress | 37 | €755,843 | €1,584,978 | +€829,135 | +110% |
| Amounts receivable within one year | 40/41 | €958,270 | €1,000,539 | +€42,269 | +4.4% |
| Trade receivables | 40 | €759,105 | €767,954 | +€8,849 | +1.2% |
| Other amounts receivable | 41 | €199,165 | €232,585 | +€33,420 | +16.8% |
| Cash at bank and in hand | 54/58 | €327,911 | €390,286 | +€62,375 | +19.0% |
| Deferred charges and accrued income | 490/1 | €21,086 | €34,898 | +€13,813 | +65.5% |
| Total equity and liabilities | 10/49 | €2,569,621 | €3,475,210 | +€905,590 | +35.2% |
| Equity | 10/15 | €1,190,494 | €1,849,584 | +€659,090 | +55.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €1,180,494 | €1,839,584 | +€659,090 | +55.8% |
| Distributable reserves | 133 | €1,180,494 | €1,839,584 | +€659,090 | +55.8% |
| Amounts payable | 17/49 | €1,379,127 | €1,625,626 | +€246,499 | +17.9% |
| Amounts payable within one year | 42/48 | €1,379,127 | €1,625,535 | +€246,409 | +17.9% |
| Trade debts | 44 | €761,468 | €973,179 | +€211,710 | +27.8% |
| Suppliers | 440/4 | €761,468 | €973,179 | +€211,710 | +27.8% |
| Advances received on contracts in progress | 46 | €1,416 | - | -€1,416 | |
| Taxes, remuneration and social security | 45 | €15,940 | €52,357 | +€36,416 | +228% |
| Taxes | 450/3 | - | €22,613 | +€22,613 | |
| Remuneration and social security | 454/9 | €15,940 | €29,744 | +€13,804 | +86.6% |
| Other amounts payable | 47/48 | €600,303 | €600,000 | -€303 | -0.1% |
| Accrued charges and deferred income | 492/3 | - | €91 | +€91 | |
| Remuneration, social security and pensions | 62 | €158,835 | €84,383 | -€74,452 | -46.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,185 | €59,437 | +€9,252 | +18.4% |
| Other operating charges | 640/8 | €1,322 | €1,452 | +€131 | +9.9% |
| Gross operating margin | 9900 | €777,824 | €994,417 | +€216,593 | +27.8% |
| Operating profit (loss) | 9901 | €567,482 | €849,144 | +€281,662 | +49.6% |
| Financial income | 75/76B | €21,124 | €40,750 | +€19,626 | +92.9% |
| Recurring financial income | 75 | €21,124 | €40,750 | +€19,626 | +92.9% |
| Financial charges | 65/66B | €158 | €3,784 | +€3,626 | +2,296% |
| Recurring financial charges | 65 | €158 | €3,784 | +€3,626 | +2,296% |
| Profit (loss) for the period before taxes | 9903 | €588,448 | €886,110 | +€297,662 | +50.6% |
| Income taxes | 67/77 | €147,835 | €227,020 | +€79,185 | +53.6% |
| Profit (loss) for the period | 9904 | €440,613 | €659,090 | +€218,477 | +49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €440,613 | €659,090 | +€218,477 | +49.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.