ARDENNE SYSTEMS: 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 SYSTEMS
Largest movements
- Tangible fixed assets +€41,034
up €41,034 (+4.7%), from €876,109 to €917,143
of which Leasing and similar rights: +€32,377
- Receivables within one year +€25,120
up €25,120 (+19.0%), from €132,009 to €157,129
of which Trade receivables: +€29,455
- Profit (loss) carried forward +€57,314
up €57,314 (+38.5%), from €148,784 to €206,098
- Debts after one year -€25,443
down €25,443 (-3.8%), from €664,387 to €638,943
- Current portion of long-term debt +€22,788
up €22,788 (+19.1%), from €119,123 to €141,911
- Other debts +€18,682
up €18,682 (+125%), from €14,967 to €33,649
- Trade debts -€14,164
down €14,164 (-23.9%), from €59,287 to €45,123
- Gross operating margin +€294,395
up €294,395 (+82.7%), from €355,767 to €650,162
- Staff costs +€207,033
up €207,033 (+116%), from €177,760 to €384,792
- Depreciation +€39,535
up €39,535 (+51.5%), from €76,824 to €116,359
- Taxes +€10,082
up €10,082 (+81.5%), from €12,363 to €22,445
- Other operating charges +€8,545
up €8,545 (+157%), from €5,431 to €13,976
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 | €1,114,627 | €1,182,827 | +€68,200 | +6.1% |
| Fixed assets | 21/28 | €877,509 | €918,143 | +€40,634 | +4.6% |
| Tangible fixed assets | 22/27 | €876,109 | €917,143 | +€41,034 | +4.7% |
| Land and buildings | 22 | €668,821 | €657,798 | -€11,024 | -1.6% |
| Plant, machinery and equipment | 23 | €77,158 | €73,252 | -€3,907 | -5.1% |
| Furniture and vehicles | 24 | €83,287 | €106,874 | +€23,587 | +28.3% |
| Leasing and similar rights | 25 | €46,843 | €79,220 | +€32,377 | +69.1% |
| Financial fixed assets | 28 | €1,400 | €1,000 | -€400 | -28.6% |
| Current assets | 29/58 | €237,117 | €264,683 | +€27,566 | +11.6% |
| Stocks and contracts in progress | 3 | €3,635 | €3,635 | = | 0.0% |
| Stocks | 30/36 | €3,635 | €3,635 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €132,009 | €157,129 | +€25,120 | +19.0% |
| Trade receivables | 40 | €117,705 | €147,160 | +€29,455 | +25.0% |
| Other amounts receivable | 41 | €14,304 | €9,970 | -€4,334 | -30.3% |
| Cash at bank and in hand | 54/58 | €100,886 | €102,381 | +€1,495 | +1.5% |
| Deferred charges and accrued income | 490/1 | €588 | €1,539 | +€951 | +162% |
| Total equity and liabilities | 10/49 | €1,114,627 | €1,182,827 | +€68,200 | +6.1% |
| Equity | 10/15 | €178,784 | €236,098 | +€57,314 | +32.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €148,784 | €206,098 | +€57,314 | +38.5% |
| Amounts payable | 17/49 | €935,843 | €946,729 | +€10,886 | +1.2% |
| Amounts payable after more than one year | 17 | €664,387 | €638,943 | -€25,443 | -3.8% |
| Financial debts | 170/4 | €664,387 | €638,943 | -€25,443 | -3.8% |
| Amounts payable within one year | 42/48 | €271,457 | €307,786 | +€36,329 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €119,123 | €141,911 | +€22,788 | +19.1% |
| Trade debts | 44 | €59,287 | €45,123 | -€14,164 | -23.9% |
| Suppliers | 440/4 | €59,287 | €45,123 | -€14,164 | -23.9% |
| Taxes, remuneration and social security | 45 | €78,080 | €87,103 | +€9,023 | +11.6% |
| Taxes | 450/3 | €40,914 | €39,396 | -€1,519 | -3.7% |
| Remuneration and social security | 454/9 | €37,166 | €47,708 | +€10,542 | +28.4% |
| Other amounts payable | 47/48 | €14,967 | €33,649 | +€18,682 | +125% |
| Remuneration, social security and pensions | 62 | €177,760 | €384,792 | +€207,033 | +116% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,824 | €116,359 | +€39,535 | +51.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,101 | +€4,101 | |
| Other operating charges | 640/8 | €5,431 | €13,976 | +€8,545 | +157% |
| Gross operating margin | 9900 | €355,767 | €650,162 | +€294,395 | +82.7% |
| Operating profit (loss) | 9901 | €95,752 | €130,933 | +€35,181 | +36.7% |
| Financial income | 75/76B | €0 | €97 | +€97 | +23,649% |
| Recurring financial income | 75 | €0 | €97 | +€97 | +23,649% |
| Financial charges | 65/66B | €29,832 | €31,271 | +€1,438 | +4.8% |
| Recurring financial charges | 65 | €29,832 | €31,271 | +€1,438 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €65,920 | €99,759 | +€33,839 | +51.3% |
| Income taxes | 67/77 | €12,363 | €22,445 | +€10,082 | +81.5% |
| Profit (loss) for the period | 9904 | €53,557 | €77,314 | +€23,757 | +44.4% |
| Profit (loss) for the period to be appropriated | 9905 | €53,557 | €77,314 | +€23,757 | +44.4% |
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 27 October 2026 via checked.be.