ARDENLAC: 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.
ARDENLAC
Largest movements
- Tangible fixed assets +€36,667
up €36,667 (+45.9%), from €79,935 to €116,602
of which Furniture and vehicles: +€43,383
- Receivables within one year -€15,678
down €15,678 (-5.0%), from €311,813 to €296,136
of which Trade receivables: -€22,701
- Cash +€13,839
up €13,839 (+15.9%), from €87,030 to €100,869
mainly Depreciation (+€37,452) and Debts after one year (+€23,826)
- Stocks and contracts -€11,514
down €11,514 (-14.3%), from €80,289 to €68,775
- Debts after one year +€23,826
up €23,826 (+104.5%), from €22,796 to €46,623
- Trade debts -€8,988
down €8,988 (-4.6%), from €194,751 to €185,764
- Current portion of long-term debt +€7,678
up €7,678 (+40.5%), from €18,962 to €26,639
- Gross operating margin -€19,852
down €19,852 (-7.2%), from €275,118 to €255,266
- Other operating charges -€6,905
down €6,905 (-80.7%), from €8,557 to €1,652
- Staff costs -€5,140
down €5,140 (-2.9%), from €177,963 to €172,824
- Financial income +€4,815
new in 2025: €4,815
- Taxes +€4,230
up €4,230 (+34.1%), from €12,394 to €16,624
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 | €601,557 | €622,369 | +€20,812 | +3.5% |
| Fixed assets | 21/28 | €119,031 | €151,575 | +€32,543 | +27.3% |
| Intangible fixed assets | 21 | €38,255 | €34,132 | -€4,123 | -10.8% |
| Tangible fixed assets | 22/27 | €79,935 | €116,602 | +€36,667 | +45.9% |
| Land and buildings | 22 | €25,729 | €22,116 | -€3,613 | -14.0% |
| Plant, machinery and equipment | 23 | €4,046 | €943 | -€3,103 | -76.7% |
| Furniture and vehicles | 24 | €50,160 | €93,543 | +€43,383 | +86.5% |
| Financial fixed assets | 28 | €841 | €841 | = | 0.0% |
| Current assets | 29/58 | €482,526 | €470,795 | -€11,731 | -2.4% |
| Stocks and contracts in progress | 3 | €80,289 | €68,775 | -€11,514 | -14.3% |
| Stocks | 30/36 | €80,289 | €68,775 | -€11,514 | -14.3% |
| Amounts receivable within one year | 40/41 | €311,813 | €296,136 | -€15,678 | -5.0% |
| Trade receivables | 40 | €310,800 | €288,099 | -€22,701 | -7.3% |
| Other amounts receivable | 41 | €1,013 | €8,037 | +€7,023 | +693.3% |
| Cash at bank and in hand | 54/58 | €87,030 | €100,869 | +€13,839 | +15.9% |
| Deferred charges and accrued income | 490/1 | €3,393 | €5,015 | +€1,622 | +47.8% |
| Total equity and liabilities | 10/49 | €601,557 | €622,369 | +€20,812 | +3.5% |
| Equity | 10/15 | €339,124 | €340,209 | +€1,085 | +0.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €129,500 | €130,500 | +€1,000 | +0.8% |
| Non-distributable reserves | 130/1 | €6,000 | €6,000 | = | 0.0% |
| Legal reserve | 130 | €6,000 | €6,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €123,500 | €124,500 | +€1,000 | +0.8% |
| Profit (loss) carried forward | 14 | €147,624 | €147,709 | +€85 | +0.1% |
| Amounts payable | 17/49 | €262,434 | €282,161 | +€19,727 | +7.5% |
| Amounts payable after more than one year | 17 | €22,796 | €46,623 | +€23,826 | +104.5% |
| Financial debts | 170/4 | €22,796 | €46,623 | +€23,826 | +104.5% |
| Amounts payable within one year | 42/48 | €239,637 | €235,538 | -€4,099 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €18,962 | €26,639 | +€7,678 | +40.5% |
| Trade debts | 44 | €194,751 | €185,764 | -€8,988 | -4.6% |
| Suppliers | 440/4 | €194,751 | €185,764 | -€8,988 | -4.6% |
| Taxes, remuneration and social security | 45 | €25,924 | €22,185 | -€3,739 | -14.4% |
| Taxes | 450/3 | €7,728 | €10,000 | +€2,272 | +29.4% |
| Remuneration and social security | 454/9 | €18,196 | €12,185 | -€6,011 | -33.0% |
| Other amounts payable | 47/48 | - | €950 | +€950 | |
| Remuneration, social security and pensions | 62 | €177,963 | €172,824 | -€5,140 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,293 | €37,452 | +€159 | +0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,191 | €8,065 | -€2,126 | -20.9% |
| Other operating charges | 640/8 | €8,557 | €1,652 | -€6,905 | -80.7% |
| Non-recurring operating charges | 66A | €31 | €432 | +€402 | +1307.3% |
| Gross operating margin | 9900 | €275,118 | €255,266 | -€19,852 | -7.2% |
| Operating profit (loss) | 9901 | €41,082 | €34,841 | -€6,242 | -15.2% |
| Financial income | 75/76B | - | €4,815 | +€4,815 | |
| Recurring financial income | 75 | - | €4,815 | +€4,815 | |
| Financial charges | 65/66B | €2,053 | €2,947 | +€893 | +43.5% |
| Recurring financial charges | 65 | €2,053 | €2,947 | +€893 | +43.5% |
| Profit (loss) for the period before taxes | 9903 | €39,029 | €36,709 | -€2,320 | -5.9% |
| Income taxes | 67/77 | €12,394 | €16,624 | +€4,230 | +34.1% |
| Profit (loss) for the period | 9904 | €26,636 | €20,085 | -€6,551 | -24.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,636 | €20,085 | -€6,551 | -24.6% |
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 8 October 2026 via checked.be.