ARDENNE PROJECTS: 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 PROJECTS
Largest movements
- Receivables within one year +€12,002
up €12,002 (+3,371%), from €356 to €12,358
of which Trade receivables: +€11,745
- Cash -€6,495
down €6,495 (-40.9%), from €15,874 to €9,379
mainly Receivables within one year (-€12,002) and Net result for the year (-€4,109)
- Trade debts +€13,071
up €13,071, from €0 to €13,071
- Profit (loss) carried forward -€4,109
down €4,109 (-72.8%), from €5,645 to €1,536
- Tax, wage and social debts -€3,641
down €3,641 (-100%), from €3,641 to €0
- Taxes +€1,359
no longer reported in 2025 (was -€1,359)
- Gross operating margin +€627
up €627 (+13.6%), from -€4,601 to -€3,974
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 | €16,230 | €21,737 | +€5,507 | +33.9% |
| Current assets | 29/58 | €16,230 | €21,737 | +€5,507 | +33.9% |
| Amounts receivable within one year | 40/41 | €356 | €12,358 | +€12,002 | +3,371% |
| Trade receivables | 40 | €5 | €11,750 | +€11,745 | +240,679% |
| Other amounts receivable | 41 | €351 | €608 | +€256 | +73.0% |
| Cash at bank and in hand | 54/58 | €15,874 | €9,379 | -€6,495 | -40.9% |
| Total equity and liabilities | 10/49 | €16,230 | €21,737 | +€5,507 | +33.9% |
| Equity | 10/15 | €12,145 | €8,036 | -€4,109 | -33.8% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,645 | €1,536 | -€4,109 | -72.8% |
| Amounts payable | 17/49 | €4,085 | €13,701 | +€9,616 | +235% |
| Amounts payable within one year | 42/48 | €4,085 | €13,701 | +€9,616 | +235% |
| Trade debts | 44 | €0 | €13,071 | +€13,071 | |
| Suppliers | 440/4 | - | €13,071 | +€13,071 | |
| Taxes, remuneration and social security | 45 | €3,641 | €0 | -€3,641 | -100% |
| Taxes | 450/3 | €3,641 | €0 | -€3,641 | -100% |
| Other amounts payable | 47/48 | €444 | €630 | +€186 | +42.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Other operating charges | 640/8 | €0 | - | = | |
| Gross operating margin | 9900 | -€4,601 | -€3,974 | +€627 | +13.6% |
| Operating profit (loss) | 9901 | -€4,601 | -€3,974 | +€627 | +13.6% |
| Financial charges | 65/66B | €95 | €135 | +€40 | +42.5% |
| Recurring financial charges | 65 | €95 | €135 | +€40 | +42.5% |
| Profit (loss) for the period before taxes | 9903 | -€4,696 | -€4,109 | +€587 | +12.5% |
| Income taxes | 67/77 | -€1,359 | - | +€1,359 | |
| Profit (loss) for the period | 9904 | -€3,338 | -€4,109 | -€772 | -23.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,338 | -€4,109 | -€772 | -23.1% |
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 14 October 2026 via checked.be.