ARDENNE ACTIVITY: 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.
ARDENNE ACTIVITY
Largest movements
- Tangible fixed assets -€19,540
down €19,540 (-36.5%), from €53,464 to €33,924
of which Furniture and vehicles: -€16,984
- Cash +€15,767
up €15,767 (+37.1%), from €42,468 to €58,235
mainly Depreciation (+€21,454) and Trade debts (+€2,949)
- Current investments +€10,171
up €10,171 (+50.6%), from €20,107 to €30,278
- Intangible fixed assets -€1,915
down €1,915 (-37.2%), from €5,149 to €3,235
- Trade debts +€2,949
up €2,949 (+21.7%), from €13,598 to €16,547
- Tax, wage and social debts +€2,643
up €2,643 (+139%), from €1,907 to €4,551
of which Taxes: +€2,448
- Other debts -€1,954
down €1,954 (-6.1%), from €31,825 to €29,871
- Accrued charges and deferred income -€1,531
down €1,531 (-78.7%), from €1,946 to €415
- Gross operating margin +€5,850
up €5,850 (+15.3%), from €38,187 to €44,037
- Depreciation +€2,896
up €2,896 (+15.6%), from €18,559 to €21,454
- Staff costs +€2,848
up €2,848 (+16.2%), from €17,634 to €20,483
- Other operating charges +€449
up €449 (+43.7%), from €1,026 to €1,475
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.
Derived cash bridge
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 | €143,021 | €144,615 | +€1,595 | +1.1% |
| Fixed assets | 21/28 | €58,613 | €37,159 | -€21,454 | -36.6% |
| Intangible fixed assets | 21 | €5,149 | €3,235 | -€1,915 | -37.2% |
| Tangible fixed assets | 22/27 | €53,464 | €33,924 | -€19,540 | -36.5% |
| Plant, machinery and equipment | 23 | €4,730 | €2,365 | -€2,365 | -50.0% |
| Furniture and vehicles | 24 | €48,161 | €31,177 | -€16,984 | -35.3% |
| Other tangible fixed assets | 26 | €572 | €381 | -€191 | -33.3% |
| Current assets | 29/58 | €84,407 | €107,457 | +€23,049 | +27.3% |
| Stocks and contracts in progress | 3 | €8,448 | €7,223 | -€1,225 | -14.5% |
| Stocks | 30/36 | €8,448 | €7,223 | -€1,225 | -14.5% |
| Amounts receivable within one year | 40/41 | €12,453 | €11,109 | -€1,344 | -10.8% |
| Trade receivables | 40 | €11,218 | €11,085 | -€132 | -1.2% |
| Other amounts receivable | 41 | €1,235 | €24 | -€1,211 | -98.0% |
| Current investments | 50/53 | €20,107 | €30,278 | +€10,171 | +50.6% |
| Cash at bank and in hand | 54/58 | €42,468 | €58,235 | +€15,767 | +37.1% |
| Deferred charges and accrued income | 490/1 | €932 | €612 | -€320 | -34.4% |
| Total equity and liabilities | 10/49 | €143,021 | €144,615 | +€1,595 | +1.1% |
| Equity | 10/15 | €63,744 | €63,232 | -€512 | -0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €42,203 | €42,203 | = | 0.0% |
| Non-distributable reserves | 130/1 | €110 | €110 | = | 0.0% |
| Reserves not available under the articles | 1311 | €110 | €110 | = | 0.0% |
| Distributable reserves | 133 | €42,093 | €42,093 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,941 | €2,429 | -€512 | -17.4% |
| Amounts payable | 17/49 | €79,277 | €81,383 | +€2,107 | +2.7% |
| Amounts payable after more than one year | 17 | €30,000 | €30,000 | = | 0.0% |
| Other amounts payable | 178/9 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €47,331 | €50,969 | +€3,638 | +7.7% |
| Trade debts | 44 | €13,598 | €16,547 | +€2,949 | +21.7% |
| Suppliers | 440/4 | €13,598 | €16,547 | +€2,949 | +21.7% |
| Taxes, remuneration and social security | 45 | €1,907 | €4,551 | +€2,643 | +139% |
| Taxes | 450/3 | €1,851 | €4,300 | +€2,448 | +132% |
| Remuneration and social security | 454/9 | €56 | €251 | +€195 | +348% |
| Other amounts payable | 47/48 | €31,825 | €29,871 | -€1,954 | -6.1% |
| Accrued charges and deferred income | 492/3 | €1,946 | €415 | -€1,531 | -78.7% |
| Remuneration, social security and pensions | 62 | €17,634 | €20,483 | +€2,848 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,559 | €21,454 | +€2,896 | +15.6% |
| Other operating charges | 640/8 | €1,026 | €1,475 | +€449 | +43.7% |
| Gross operating margin | 9900 | €38,187 | €44,037 | +€5,850 | +15.3% |
| Operating profit (loss) | 9901 | €967 | €625 | -€342 | -35.4% |
| Financial income | 75/76B | €156 | €247 | +€91 | +57.9% |
| Recurring financial income | 75 | €156 | €247 | +€91 | +57.9% |
| Financial charges | 65/66B | €870 | €1,178 | +€308 | +35.4% |
| Recurring financial charges | 65 | €870 | €1,178 | +€308 | +35.4% |
| Profit (loss) for the period before taxes | 9903 | €254 | -€306 | -€560 | |
| Income taxes | 67/77 | €325 | €206 | -€120 | -36.8% |
| Profit (loss) for the period | 9904 | -€72 | -€512 | -€440 | -613% |
| Profit (loss) for the period to be appropriated | 9905 | -€72 | -€512 | -€440 | -613% |
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 26 October 2026 via checked.be.