Ardenne Maison: 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 Maison
Largest movements
- Tangible fixed assets -€411,009
down €411,009 (-36.0%), from €1.1m to €730,867
of which Land and buildings: -€390,600
- Cash -€13,366
down €13,366 (-17.0%), from €78,709 to €65,343
mainly Other debts (-€245,487) and Debts after one year (-€179,716)
- Other debts -€245,487
down €245,487 (-77.9%), from €315,291 to €69,804
- Debts after one year -€179,716
down €179,716 (-50.0%), from €359,575 to €179,859
- Profit (loss) carried forward +€23,605
no longer reported in 2025 (was -€23,605)
- Accrued charges and deferred income -€13,176
down €13,176 (-85.4%), from €15,425 to €2,249
- Gross operating margin +€79,861
up €79,861 (+88.7%), from €90,073 to €169,934
- Taxes +€26,378
new in 2025: €26,378
- Depreciation -€18,111
down €18,111 (-36.0%), from €50,367 to €32,256
- Other operating charges +€3,831
up €3,831 (+72.4%), from €5,289 to €9,120
- Financial charges -€3,187
down €3,187 (-18.8%), from €16,917 to €13,730
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 | €1,221,711 | €797,649 | -€424,062 | -34.7% |
| Fixed assets | 21/28 | €1,141,960 | €730,867 | -€411,093 | -36.0% |
| Intangible fixed assets | 21 | €84 | - | -€84 | |
| Tangible fixed assets | 22/27 | €1,141,876 | €730,867 | -€411,009 | -36.0% |
| Land and buildings | 22 | €1,060,644 | €670,044 | -€390,600 | -36.8% |
| Plant, machinery and equipment | 23 | €65,615 | €47,640 | -€17,975 | -27.4% |
| Furniture and vehicles | 24 | €15,617 | €13,184 | -€2,434 | -15.6% |
| Current assets | 29/58 | €79,751 | €66,781 | -€12,969 | -16.3% |
| Amounts receivable within one year | 40/41 | - | €200 | +€200 | |
| Trade receivables | 40 | - | €200 | +€200 | |
| Cash at bank and in hand | 54/58 | €78,709 | €65,343 | -€13,366 | -17.0% |
| Deferred charges and accrued income | 490/1 | €1,042 | €1,238 | +€196 | +18.9% |
| Total equity and liabilities | 10/49 | €1,221,711 | €797,649 | -€424,062 | -34.7% |
| Equity | 10/15 | €476,263 | €499,868 | +€23,605 | +5.0% |
| Contributions | 10/11 | €460,000 | €460,000 | = | 0.0% |
| Reserves | 13 | €39,868 | €39,868 | = | 0.0% |
| Distributable reserves | 133 | €39,868 | €39,868 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,605 | - | +€23,605 | |
| Amounts payable | 17/49 | €745,448 | €297,781 | -€447,667 | -60.1% |
| Amounts payable after more than one year | 17 | €359,575 | €179,859 | -€179,716 | -50.0% |
| Financial debts | 170/4 | €359,575 | €179,859 | -€179,716 | -50.0% |
| Amounts payable within one year | 42/48 | €370,449 | €115,673 | -€254,776 | -68.8% |
| Current portion of amounts payable after more than one year | 42 | €44,224 | €43,880 | -€345 | -0.8% |
| Trade debts | 44 | €6,964 | €611 | -€6,353 | -91.2% |
| Suppliers | 440/4 | €6,964 | €611 | -€6,353 | -91.2% |
| Taxes, remuneration and social security | 45 | €3,969 | €1,378 | -€2,591 | -65.3% |
| Taxes | 450/3 | €3,969 | €1,378 | -€2,591 | -65.3% |
| Other amounts payable | 47/48 | €315,291 | €69,804 | -€245,487 | -77.9% |
| Accrued charges and deferred income | 492/3 | €15,425 | €2,249 | -€13,176 | -85.4% |
| Non-recurring operating income | 76A | - | €88,811 | +€88,811 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,367 | €32,256 | -€18,111 | -36.0% |
| Other operating charges | 640/8 | €5,289 | €9,120 | +€3,831 | +72.4% |
| Gross operating margin | 9900 | €90,073 | €169,934 | +€79,861 | +88.7% |
| Operating profit (loss) | 9901 | €34,417 | €128,558 | +€94,140 | +274% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €16,917 | €13,730 | -€3,187 | -18.8% |
| Recurring financial charges | 65 | €16,917 | €13,730 | -€3,187 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €17,500 | €114,827 | +€97,328 | +556% |
| Income taxes | 67/77 | - | €26,378 | +€26,378 | |
| Profit (loss) for the period | 9904 | €17,500 | €88,450 | +€70,950 | +405% |
| Profit (loss) for the period to be appropriated | 9905 | €17,500 | €88,450 | +€70,950 | +405% |
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 28 October 2026 via checked.be.