ARDENA: 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.
ARDENA
Largest movements
- Tangible fixed assets -€6,655
down €6,655 (-2.6%), from €255,325 to €248,669
of which Land and buildings: -€5,619
- Profit (loss) carried forward -€6,289
down €6,289 (-3.2%), from €193,975 to €187,687
- Gross operating margin -€941
down €941 (-26.7%), from €3,518 to €2,577
- Financial income +€224
up €224 (+22843.9%), from €1 to €225
- Depreciation -€82
down €82 (-1.2%), from €6,737 to €6,655
- Other operating charges +€64
up €64 (+3.0%), from €2,139 to €2,203
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 | €350,798 | €346,305 | -€4,493 | -1.3% |
| Fixed assets | 21/28 | €255,454 | €248,799 | -€6,655 | -2.6% |
| Tangible fixed assets | 22/27 | €255,325 | €248,669 | -€6,655 | -2.6% |
| Land and buildings | 22 | €253,050 | €247,431 | -€5,619 | -2.2% |
| Plant, machinery and equipment | 23 | €2,275 | €1,239 | -€1,036 | -45.5% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €95,343 | €97,506 | +€2,163 | +2.3% |
| Stocks and contracts in progress | 3 | €1,040 | €1,040 | = | 0.0% |
| Stocks | 30/36 | €1,040 | €1,040 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €87,918 | €91,153 | +€3,235 | +3.7% |
| Other amounts receivable | 41 | €87,918 | €91,153 | +€3,235 | +3.7% |
| Cash at bank and in hand | 54/58 | €6,385 | €5,313 | -€1,072 | -16.8% |
| Total equity and liabilities | 10/49 | €350,798 | €346,305 | -€4,493 | -1.3% |
| Equity | 10/15 | €350,768 | €344,479 | -€6,289 | -1.8% |
| Contributions | 10/11 | €142,539 | €142,539 | = | 0.0% |
| Capital | 10 | €142,539 | €142,539 | = | 0.0% |
| Issued capital | 100 | €142,539 | €142,539 | = | 0.0% |
| Reserves | 13 | €14,254 | €14,254 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,254 | €14,254 | = | 0.0% |
| Legal reserve | 130 | €14,254 | €14,254 | = | 0.0% |
| Profit (loss) carried forward | 14 | €193,975 | €187,687 | -€6,289 | -3.2% |
| Amounts payable | 17/49 | €30 | €1,826 | +€1,796 | +5982.1% |
| Amounts payable within one year | 42/48 | €30 | €1,826 | +€1,796 | +5982.1% |
| Trade debts | 44 | €30 | €1,826 | +€1,796 | +5982.1% |
| Suppliers | 440/4 | €30 | €1,826 | +€1,796 | +5982.1% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,737 | €6,655 | -€82 | -1.2% |
| Other operating charges | 640/8 | €2,139 | €2,203 | +€64 | +3.0% |
| Gross operating margin | 9900 | €3,518 | €2,577 | -€941 | -26.7% |
| Operating profit (loss) | 9901 | -€5,358 | -€6,281 | -€923 | -17.2% |
| Financial income | 75/76B | €1 | €225 | +€224 | +22843.9% |
| Recurring financial income | 75 | €1 | €225 | +€224 | +22843.9% |
| Financial charges | 65/66B | €203 | €232 | +€30 | +14.6% |
| Recurring financial charges | 65 | €203 | €232 | +€30 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,559 | -€6,289 | -€729 | -13.1% |
| Profit (loss) for the period | 9904 | -€5,559 | -€6,289 | -€729 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,559 | -€6,289 | -€729 | -13.1% |
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 3 October 2026 via checked.be.