ARDELOC: 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.
What changed
ARDELOC
NACE 94.120, Activities of professional membership organisations
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€37,363
2024 · -€15,314-€22,049
Equity
€44,306
2024 · €81,669-€37,363
Cash
€23,684
2024 · €25,920-€2,236
Balance sheet total
€661,466
2024 · €695,116-€33,650
Largest movements
Assets
- Current investments -€27,699
down €27,699 (-100.0%), from €27,699 to €0
Equity and liabilities
- Debts after one year -€37,812
down €37,812 (-10.0%), from €378,722 to €340,910
- Profit (loss) carried forward -€37,363
down €37,363 (-41.1%), from -€90,834 to -€128,197
- Other debts +€19,511
up €19,511 (+12.7%), from €153,255 to €172,766
- Trade debts +€10,069
up €10,069 (+159.5%), from €6,312 to €16,381
- Current portion of long-term debt +€9,832
up €9,832 (+15.5%), from €63,269 to €73,101
Income statement
- Financial charges +€25,834
up €25,834 (+106.7%), from €24,213 to €50,047
of which Non-recurring financial charges: +€27,699
- Gross operating margin +€13,627
up €13,627 (+25.3%), from €53,856 to €67,483
- Depreciation +€6,022
up €6,022 (+15.8%), from €38,154 to €44,176
- Other operating charges +€4,382
up €4,382 (+73.2%), from €5,985 to €10,367
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.
Result 2024
-€15,314
Gross operating margin
+€13,627
Depreciation
-€6,022
Other operating charges
-€4,382
Financial income
+€0
Financial charges
-€25,834
Taxes
+€561
Result 2025
-€37,363
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.
From operations
+€43,925
Investment
-€18,055
Financing
-€28,106
Cash 2024
€25,920
From operations (derived)
+€43,925
Net result for the year
-€37,363
Depreciation
+€44,176
Stocks and contracts
+€191
Receivables within one year
+€6,211
Deferred charges and accrued income
-€1,108
Trade debts
+€10,069
Tax, wage and social debts
-€3,595
Advances received
+€4,032
Other debts
+€19,511
Accrued charges and deferred income
+€1,803
Investment (derived)
-€18,055
Investment in fixed assets (net)
-€45,754
Current investments
+€27,699
Financing
-€28,106
Debts after one year
-€37,812
Current portion of long-term debt
+€9,832
Short-term financial debts
-€126
Cash 2025
€23,684
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €695,116 | €661,466 | -€33,650 | -4.8% |
| Fixed assets | 21/28 | €615,401 | €616,979 | +€1,578 | +0.3% |
| Tangible fixed assets | 22/27 | €615,022 | €616,601 | +€1,578 | +0.3% |
| Land and buildings | 22 | €611,534 | €576,898 | -€34,636 | -5.7% |
| Plant, machinery and equipment | 23 | €2,486 | €1,073 | -€1,413 | -56.8% |
| Furniture and vehicles | 24 | €1,002 | €38,629 | +€37,627 | +3754.3% |
| Financial fixed assets | 28 | €379 | €379 | = | 0.0% |
| Current assets | 29/58 | €79,715 | €44,487 | -€35,228 | -44.2% |
| Stocks and contracts in progress | 3 | €191 | €0 | -€191 | -100.0% |
| Stocks | 30/36 | €191 | €0 | -€191 | -100.0% |
| Amounts receivable within one year | 40/41 | €25,669 | €19,458 | -€6,211 | -24.2% |
| Trade receivables | 40 | €17,812 | €8,040 | -€9,772 | -54.9% |
| Other amounts receivable | 41 | €7,856 | €11,418 | +€3,562 | +45.3% |
| Current investments | 50/53 | €27,699 | €0 | -€27,699 | -100.0% |
| Cash at bank and in hand | 54/58 | €25,920 | €23,684 | -€2,236 | -8.6% |
| Deferred charges and accrued income | 490/1 | €236 | €1,344 | +€1,108 | +470.3% |
| Total equity and liabilities | 10/49 | €695,116 | €661,466 | -€33,650 | -4.8% |
| Equity | 10/15 | €81,669 | €44,306 | -€37,363 | -45.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €72,503 | €72,503 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,214 | €11,214 | = | 0.0% |
| Distributable reserves | 133 | €61,290 | €61,290 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,834 | -€128,197 | -€37,363 | -41.1% |
| Amounts payable | 17/49 | €613,447 | €617,160 | +€3,713 | +0.6% |
| Amounts payable after more than one year | 17 | €378,722 | €340,910 | -€37,812 | -10.0% |
| Financial debts | 170/4 | €378,722 | €340,910 | -€37,812 | -10.0% |
| Amounts payable within one year | 42/48 | €234,725 | €274,447 | +€39,723 | +16.9% |
| Current portion of amounts payable after more than one year | 42 | €63,269 | €73,101 | +€9,832 | +15.5% |
| Financial debts | 43 | €126 | €0 | -€126 | -100.0% |
| Credit institutions | 430/8 | €126 | €0 | -€126 | -100.0% |
| Trade debts | 44 | €6,312 | €16,381 | +€10,069 | +159.5% |
| Suppliers | 440/4 | €6,312 | €16,381 | +€10,069 | +159.5% |
| Advances received on contracts in progress | 46 | €7,976 | €12,008 | +€4,032 | +50.5% |
| Taxes, remuneration and social security | 45 | €3,786 | €190 | -€3,595 | -95.0% |
| Taxes | 450/3 | €3,786 | €190 | -€3,595 | -95.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €153,255 | €172,766 | +€19,511 | +12.7% |
| Accrued charges and deferred income | 492/3 | €0 | €1,803 | +€1,803 | |
| Non-recurring operating income | 76A | €183 | €14,463 | +€14,280 | +7818.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,154 | €44,176 | +€6,022 | +15.8% |
| Other operating charges | 640/8 | €5,985 | €10,367 | +€4,382 | +73.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €53,856 | €67,483 | +€13,627 | +25.3% |
| Operating profit (loss) | 9901 | €9,716 | €12,940 | +€3,224 | +33.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €24,213 | €50,047 | +€25,834 | +106.7% |
| Recurring financial charges | 65 | €24,213 | €22,348 | -€1,865 | -7.7% |
| Non-recurring financial charges | 66B | - | €27,699 | +€27,699 | |
| Profit (loss) for the period before taxes | 9903 | -€14,497 | -€37,107 | -€22,610 | -156.0% |
| Income taxes | 67/77 | €817 | €257 | -€561 | -68.6% |
| Profit (loss) for the period | 9904 | -€15,314 | -€37,363 | -€22,049 | -144.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,314 | -€37,363 | -€22,049 | -144.0% |
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 29 September 2026 via checked.be.