ARDELEX CONSTRUCT: 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.
ARDELEX CONSTRUCT
Largest movements
- Receivables within one year +€63,653
up €63,653 (+42.8%), from €148,804 to €212,457
of which Other amounts receivable: +€35,159
- Tangible fixed assets -€5,826
down €5,826 (-29.2%), from €19,925 to €14,099
- Profit (loss) carried forward +€30,854
up €30,854 (+75.6%), from €40,801 to €71,655
- Advances received +€23,214
new in 2025: €23,214
- Tax, wage and social debts +€16,833
up €16,833 (+592.1%), from €2,843 to €19,676
- Short-term financial debts -€5,782
down €5,782 (-83.0%), from €6,967 to €1,185
- Trade debts -€5,761
down €5,761 (-9.4%), from €61,442 to €55,681
- Gross operating margin +€55,280
up €55,280 (+1873.2%), from €2,951 to €58,231
- Taxes +€11,352
new in 2025: €11,352
- Financial income -€3,747
no longer reported in 2025 (was €3,747)
- Other operating charges +€1,832
up €1,832 (+217.6%), from €842 to €2,673
- Depreciation -€850
down €850 (-12.7%), from €6,677 to €5,826
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 | €170,537 | €228,711 | +€58,173 | +34.1% |
| Fixed assets | 21/28 | €19,925 | €14,099 | -€5,826 | -29.2% |
| Tangible fixed assets | 22/27 | €19,925 | €14,099 | -€5,826 | -29.2% |
| Furniture and vehicles | 24 | €19,925 | €14,099 | -€5,826 | -29.2% |
| Current assets | 29/58 | €150,613 | €214,612 | +€63,999 | +42.5% |
| Amounts receivable within one year | 40/41 | €148,804 | €212,457 | +€63,653 | +42.8% |
| Trade receivables | 40 | €81,844 | €110,338 | +€28,494 | +34.8% |
| Other amounts receivable | 41 | €66,960 | €102,118 | +€35,159 | +52.5% |
| Cash at bank and in hand | 54/58 | €1,809 | €2,156 | +€347 | +19.2% |
| Total equity and liabilities | 10/49 | €170,537 | €228,711 | +€58,173 | +34.1% |
| Equity | 10/15 | €58,101 | €88,955 | +€30,854 | +53.1% |
| Contributions | 10/11 | €17,300 | €17,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,801 | €71,655 | +€30,854 | +75.6% |
| Amounts payable | 17/49 | €112,436 | €139,755 | +€27,319 | +24.3% |
| Amounts payable after more than one year | 17 | €1,185 | - | -€1,185 | |
| Financial debts | 170/4 | €1,185 | - | -€1,185 | |
| Amounts payable within one year | 42/48 | €111,252 | €139,755 | +€28,504 | +25.6% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | €40,000 | = | 0.0% |
| Financial debts | 43 | €6,967 | €1,185 | -€5,782 | -83.0% |
| Credit institutions | 430/8 | €6,967 | €1,185 | -€5,782 | -83.0% |
| Trade debts | 44 | €61,442 | €55,681 | -€5,761 | -9.4% |
| Suppliers | 440/4 | €61,442 | €55,681 | -€5,761 | -9.4% |
| Advances received on contracts in progress | 46 | - | €23,214 | +€23,214 | |
| Taxes, remuneration and social security | 45 | €2,843 | €19,676 | +€16,833 | +592.1% |
| Taxes | 450/3 | €2,843 | €19,676 | +€16,833 | +592.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,677 | €5,826 | -€850 | -12.7% |
| Other operating charges | 640/8 | €842 | €2,673 | +€1,832 | +217.6% |
| Non-recurring operating charges | 66A | €45 | - | -€45 | |
| Gross operating margin | 9900 | €2,951 | €58,231 | +€55,280 | +1873.2% |
| Operating profit (loss) | 9901 | -€4,612 | €49,732 | +€54,344 | |
| Financial income | 75/76B | €3,747 | - | -€3,747 | |
| Recurring financial income | 75 | €3,747 | - | -€3,747 | |
| Financial charges | 65/66B | €7,410 | €7,526 | +€116 | +1.6% |
| Recurring financial charges | 65 | €7,410 | €7,526 | +€116 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,275 | €42,206 | +€50,481 | |
| Income taxes | 67/77 | - | €11,352 | +€11,352 | |
| Profit (loss) for the period | 9904 | -€8,275 | €30,854 | +€39,129 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,275 | €30,854 | +€39,129 |
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 5 October 2026 via checked.be.