ARDENNE-CONCEPT: 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-CONCEPT
Largest movements
- Tangible fixed assets -€39,709
down €39,709 (-16.5%), from €240,852 to €201,143
of which Land and buildings: -€36,994
- Receivables within one year -€28,290
down €28,290 (-14.5%), from €195,439 to €167,148
of which Other amounts receivable: -€32,445
- Deferred charges and accrued income -€13,478
down €13,478 (-69.1%), from €19,496 to €6,017
- Other debts -€74,062
down €74,062 (-99.3%), from €74,554 to €492
- Profit (loss) carried forward -€50,125
down €50,125 (-12.5%), from -€402,356 to -€452,481
- Trade debts +€50,117
up €50,117 (+80.2%), from €62,482 to €112,599
- Gross operating margin +€129,206
up €129,206 (+54.8%), from €235,675 to €364,881
- Staff costs -€8,528
down €8,528 (-2.5%), from €343,814 to €335,286
- Financial charges -€6,636
down €6,636 (-40.7%), from €16,309 to €9,674
- Depreciation -€4,026
down €4,026 (-6.5%), from €61,508 to €57,482
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 | €471,024 | €389,653 | -€81,371 | -17.3% |
| Fixed assets | 21/28 | €247,134 | €205,921 | -€41,214 | -16.7% |
| Intangible fixed assets | 21 | €6,282 | €4,778 | -€1,505 | -24.0% |
| Tangible fixed assets | 22/27 | €240,852 | €201,143 | -€39,709 | -16.5% |
| Land and buildings | 22 | €213,274 | €176,281 | -€36,994 | -17.3% |
| Plant, machinery and equipment | 23 | €26,567 | €24,474 | -€2,094 | -7.9% |
| Furniture and vehicles | 24 | €1,011 | €389 | -€622 | -61.5% |
| Current assets | 29/58 | €223,890 | €183,733 | -€40,157 | -17.9% |
| Stocks and contracts in progress | 3 | €4,246 | €7,177 | +€2,931 | +69.0% |
| Stocks | 30/36 | €4,246 | €7,177 | +€2,931 | +69.0% |
| Amounts receivable within one year | 40/41 | €195,439 | €167,148 | -€28,290 | -14.5% |
| Trade receivables | 40 | €8,698 | €12,853 | +€4,155 | +47.8% |
| Other amounts receivable | 41 | €186,741 | €154,295 | -€32,445 | -17.4% |
| Cash at bank and in hand | 54/58 | €4,709 | €3,390 | -€1,319 | -28.0% |
| Deferred charges and accrued income | 490/1 | €19,496 | €6,017 | -€13,478 | -69.1% |
| Total equity and liabilities | 10/49 | €471,024 | €389,653 | -€81,371 | -17.3% |
| Equity | 10/15 | €20,585 | -€31,363 | -€51,949 | |
| Contributions | 10/11 | €412,000 | €412,000 | = | 0.0% |
| Capital | 10 | €412,000 | €412,000 | = | 0.0% |
| Issued capital | 100 | €412,000 | €412,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€402,356 | -€452,481 | -€50,125 | -12.5% |
| Investment grants | 15 | €10,941 | €9,118 | -€1,824 | -16.7% |
| Amounts payable | 17/49 | €450,439 | €421,017 | -€29,422 | -6.5% |
| Amounts payable after more than one year | 17 | €275,000 | €275,000 | = | 0.0% |
| Financial debts | 170/4 | €275,000 | €275,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €168,983 | €143,275 | -€25,709 | -15.2% |
| Trade debts | 44 | €62,482 | €112,599 | +€50,117 | +80.2% |
| Suppliers | 440/4 | €62,482 | €112,599 | +€50,117 | +80.2% |
| Taxes, remuneration and social security | 45 | €31,948 | €30,184 | -€1,763 | -5.5% |
| Taxes | 450/3 | €729 | €150 | -€579 | -79.4% |
| Remuneration and social security | 454/9 | €31,219 | €30,034 | -€1,184 | -3.8% |
| Other amounts payable | 47/48 | €74,554 | €492 | -€74,062 | -99.3% |
| Accrued charges and deferred income | 492/3 | €6,456 | €2,742 | -€3,713 | -57.5% |
| Remuneration, social security and pensions | 62 | €343,814 | €335,286 | -€8,528 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,508 | €57,482 | -€4,026 | -6.5% |
| Other operating charges | 640/8 | €13,792 | €14,392 | +€600 | +4.3% |
| Gross operating margin | 9900 | €235,675 | €364,881 | +€129,206 | +54.8% |
| Operating profit (loss) | 9901 | -€183,439 | -€42,279 | +€141,161 | +77.0% |
| Financial income | 75/76B | €5,419 | €1,827 | -€3,592 | -66.3% |
| Recurring financial income | 75 | €5,419 | €1,827 | -€3,592 | -66.3% |
| Financial charges | 65/66B | €16,309 | €9,674 | -€6,636 | -40.7% |
| Recurring financial charges | 65 | €16,309 | €9,674 | -€6,636 | -40.7% |
| Profit (loss) for the period before taxes | 9903 | -€194,330 | -€50,125 | +€144,204 | +74.2% |
| Profit (loss) for the period | 9904 | -€194,330 | -€50,125 | +€144,204 | +74.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€194,330 | -€50,125 | +€144,204 | +74.2% |
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 18 October 2026 via checked.be.