ARDENNE TRADING: 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 TRADING
Largest movements
- Cash +€113,341
up €113,341 (+174%), from €65,217 to €178,558
mainly Net result for the year (+€86,492) and Receivables within one year (+€32,529)
- Receivables within one year -€32,529
down €32,529 (-18.3%), from €177,274 to €144,745
of which Trade receivables: -€33,432
- Profit (loss) carried forward +€86,492
up €86,492 (+107%), from €80,846 to €167,338
- Tax, wage and social debts -€19,500
down €19,500 (-86.9%), from €22,452 to €2,952
of which Remuneration and social security: -€17,143
- Other debts +€10,935
up €10,935 (+20.6%), from €53,135 to €64,070
- Turnover -€211,177
no longer reported in 2025 (was €211,177)
- Purchases and services -€113,947
no longer reported in 2025 (was €113,947)
- Gross operating margin +€11,681
up €11,681 (+12.0%), from €97,230 to €108,911
- Staff costs +€5,084
up €5,084 (+38.8%), from €13,095 to €18,179
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 | €243,269 | €323,614 | +€80,345 | +33.0% |
| Formation expenses | 20 | €778 | €311 | -€467 | -60.0% |
| Current assets | 29/58 | €242,491 | €323,303 | +€80,812 | +33.3% |
| Amounts receivable within one year | 40/41 | €177,274 | €144,745 | -€32,529 | -18.3% |
| Trade receivables | 40 | €177,274 | €143,842 | -€33,432 | -18.9% |
| Other amounts receivable | 41 | - | €903 | +€903 | |
| Cash at bank and in hand | 54/58 | €65,217 | €178,558 | +€113,341 | +174% |
| Total equity and liabilities | 10/49 | €243,269 | €323,614 | +€80,345 | +33.0% |
| Equity | 10/15 | €83,346 | €169,838 | +€86,492 | +104% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,846 | €167,338 | +€86,492 | +107% |
| Amounts payable | 17/49 | €159,923 | €153,776 | -€6,147 | -3.8% |
| Amounts payable within one year | 42/48 | €159,923 | €153,776 | -€6,147 | -3.8% |
| Trade debts | 44 | €62,651 | €65,069 | +€2,418 | +3.9% |
| Suppliers | 440/4 | €62,651 | €65,069 | +€2,418 | +3.9% |
| Advances received on contracts in progress | 46 | €21,685 | €21,685 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €22,452 | €2,952 | -€19,500 | -86.9% |
| Taxes | 450/3 | €2,357 | - | -€2,357 | |
| Remuneration and social security | 454/9 | €20,095 | €2,952 | -€17,143 | -85.3% |
| Other amounts payable | 47/48 | €53,135 | €64,070 | +€10,935 | +20.6% |
| Turnover | 70 | €211,177 | - | -€211,177 | |
| Non-recurring operating income | 76A | - | €2,723 | +€2,723 | |
| Goods, raw materials, services and sundry goods | 60/61 | €113,947 | - | -€113,947 | |
| Remuneration, social security and pensions | 62 | €13,095 | €18,179 | +€5,084 | +38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €622 | €467 | -€155 | -24.9% |
| Other operating charges | 640/8 | €2,626 | €1,785 | -€841 | -32.0% |
| Gross operating margin | 9900 | €97,230 | €108,911 | +€11,681 | +12.0% |
| Operating profit (loss) | 9901 | €80,887 | €88,480 | +€7,593 | +9.4% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €41 | €106 | +€65 | +159% |
| Recurring financial charges | 65 | €41 | €106 | +€65 | +159% |
| Profit (loss) for the period before taxes | 9903 | €80,846 | €88,375 | +€7,529 | +9.3% |
| Income taxes | 67/77 | - | €1,883 | +€1,883 | |
| Profit (loss) for the period | 9904 | €80,846 | €86,492 | +€5,646 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €80,846 | €86,492 | +€5,646 | +7.0% |
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 25 October 2026 via checked.be.