ARDEN'FOREST: 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.
ARDEN'FOREST
Largest movements
- Tangible fixed assets -€118,012
down €118,012 (-49.2%), from €239,710 to €121,698
of which Leasing and similar rights: -€64,020
- Receivables within one year +€80,968
up €80,968 (+7.9%), from €1.0m to €1.1m
of which Trade receivables: +€90,654
- Trade debts +€74,295
up €74,295 (+14.0%), from €529,104 to €603,399
- Debts after one year -€69,059
down €69,059 (-36.6%), from €188,437 to €119,377
of which Financial debts: -€69,059
- Profit (loss) carried forward -€22,932
down €22,932 (-15.0%), from €152,550 to €129,618
- Current portion of long-term debt -€20,986
down €20,986 (-23.8%), from €88,001 to €67,015
- Gross operating margin -€27,179
down €27,179 (-12.2%), from €222,074 to €194,895
- Depreciation +€12,565
up €12,565 (+11.9%), from €105,447 to €118,012
- Staff costs -€10,434
down €10,434 (-11.5%), from €90,548 to €80,115
- Financial charges -€3,720
down €3,720 (-19.4%), from €19,187 to €15,467
of which Financial charges: -€3,719
- Financial income -€2,468
down €2,468 (-75.6%), from €3,263 to €795
of which Financial income: -€2,432
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 | €1,384,515 | €1,347,249 | -€37,266 | -2.7% |
| Fixed assets | 21/28 | €249,360 | €129,670 | -€119,690 | -48.0% |
| Tangible fixed assets | 22/27 | €239,710 | €121,698 | -€118,012 | -49.2% |
| Plant, machinery and equipment | 23 | €28,045 | €6,776 | -€21,269 | -75.8% |
| Furniture and vehicles | 24 | €53,439 | €20,716 | -€32,723 | -61.2% |
| Leasing and similar rights | 25 | €158,226 | €94,206 | -€64,020 | -40.5% |
| Financial fixed assets | 28 | €9,650 | €7,972 | -€1,678 | -17.4% |
| Current assets | 29/58 | €1,135,155 | €1,217,579 | +€82,424 | +7.3% |
| Stocks and contracts in progress | 3 | €97,700 | €87,207 | -€10,493 | -10.7% |
| Stocks | 30/36 | €97,700 | €87,207 | -€10,493 | -10.7% |
| Amounts receivable within one year | 40/41 | €1,021,697 | €1,102,665 | +€80,968 | +7.9% |
| Trade receivables | 40 | €1,002,129 | €1,092,783 | +€90,654 | +9.0% |
| Other amounts receivable | 41 | €19,568 | €9,882 | -€9,686 | -49.5% |
| Cash at bank and in hand | 54/58 | €7,259 | €19,635 | +€12,376 | +170.5% |
| Deferred charges and accrued income | 490/1 | €8,499 | €8,072 | -€427 | -5.0% |
| Total equity and liabilities | 10/49 | €1,384,515 | €1,347,249 | -€37,266 | -2.7% |
| Equity | 10/15 | €296,440 | €273,508 | -€22,932 | -7.7% |
| Contributions | 10/11 | €39,900 | €39,900 | = | 0.0% |
| Reserves | 13 | €103,990 | €103,990 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,990 | €3,990 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,990 | €3,990 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,550 | €129,618 | -€22,932 | -15.0% |
| Amounts payable | 17/49 | €1,088,075 | €1,073,741 | -€14,334 | -1.3% |
| Amounts payable after more than one year | 17 | €188,437 | €119,377 | -€69,059 | -36.6% |
| Financial debts | 170/4 | €113,437 | €44,377 | -€69,059 | -60.9% |
| Other amounts payable | 178/9 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €899,638 | €954,364 | +€54,725 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €88,001 | €67,015 | -€20,986 | -23.8% |
| Financial debts | 43 | €44,670 | €48,000 | +€3,330 | +7.5% |
| Credit institutions | 430/8 | €44,670 | €48,000 | +€3,330 | +7.5% |
| Trade debts | 44 | €529,104 | €603,399 | +€74,295 | +14.0% |
| Suppliers | 440/4 | €529,104 | €603,399 | +€74,295 | +14.0% |
| Taxes, remuneration and social security | 45 | €29,457 | €27,543 | -€1,914 | -6.5% |
| Taxes | 450/3 | €397 | €284 | -€113 | -28.5% |
| Remuneration and social security | 454/9 | €29,060 | €27,259 | -€1,801 | -6.2% |
| Other amounts payable | 47/48 | €208,406 | €208,406 | = | 0.0% |
| Non-recurring operating income | 76A | - | €887 | +€887 | |
| Remuneration, social security and pensions | 62 | €90,548 | €80,115 | -€10,434 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,447 | €118,012 | +€12,565 | +11.9% |
| Other operating charges | 640/8 | €4,519 | €4,964 | +€445 | +9.9% |
| Non-recurring operating charges | 66A | €800 | €63 | -€737 | -92.1% |
| Gross operating margin | 9900 | €222,074 | €194,895 | -€27,179 | -12.2% |
| Operating profit (loss) | 9901 | €20,759 | -€8,260 | -€29,019 | |
| Financial income | 75/76B | €3,263 | €795 | -€2,468 | -75.6% |
| Recurring financial income | 75 | €3,227 | €795 | -€2,432 | -75.4% |
| Non-recurring financial income | 76B | €36 | - | -€36 | |
| Financial charges | 65/66B | €19,187 | €15,467 | -€3,720 | -19.4% |
| Recurring financial charges | 65 | €19,186 | €15,467 | -€3,719 | -19.4% |
| Non-recurring financial charges | 66B | €1 | - | -€1 | |
| Profit (loss) for the period before taxes | 9903 | €4,835 | -€22,932 | -€27,767 | |
| Profit (loss) for the period | 9904 | €4,835 | -€22,932 | -€27,767 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,835 | -€22,932 | -€27,767 |
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 9 October 2026 via checked.be.