ARDENNES IMMO: 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.
ARDENNES IMMO
Largest movements
- Cash -€57,686
down €57,686 (-70.2%), from €82,145 to €24,459
mainly Receivables within one year (-€43,329) and Net result for the year (-€37,948)
- Receivables within one year +€43,329
up €43,329 (+34.3%), from €126,287 to €169,615
of which Other amounts receivable: +€36,241
- Tangible fixed assets -€16,993
down €16,993 (-3.7%), from €463,664 to €446,671
of which Land and buildings: -€13,500
- Reserves -€23,518
down €23,518 (-6.0%), from €393,346 to €369,828
of which Tax-exempt reserves: -€23,518
- Profit (loss) carried forward -€20,681
down €20,681 (-8.0%), from €257,025 to €236,344
- Trade debts +€12,549
up €12,549 (+893.3%), from €1,405 to €13,954
- Gross operating margin -€154,891
down €154,891, from €142,633 to -€12,258
- Depreciation -€52,934
down €52,934 (-68.3%), from €77,514 to €24,580
- Financial charges -€20,157
down €20,157 (-97.1%), from €20,759 to €602
- Other operating charges -€2,177
down €2,177 (-81.1%), from €2,686 to €508
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.
Cash bridge derived
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 | €672,394 | €640,745 | -€31,649 | -4.7% |
| Fixed assets | 21/28 | €463,962 | €446,671 | -€17,292 | -3.7% |
| Tangible fixed assets | 22/27 | €463,664 | €446,671 | -€16,993 | -3.7% |
| Land and buildings | 22 | €413,250 | €399,750 | -€13,500 | -3.3% |
| Plant, machinery and equipment | 23 | €8,361 | €7,281 | -€1,080 | -12.9% |
| Furniture and vehicles | 24 | €42,054 | €39,641 | -€2,413 | -5.7% |
| Financial fixed assets | 28 | €298 | - | -€298 | |
| Current assets | 29/58 | €208,432 | €194,074 | -€14,358 | -6.9% |
| Amounts receivable within one year | 40/41 | €126,287 | €169,615 | +€43,329 | +34.3% |
| Trade receivables | 40 | €2,567 | €9,655 | +€7,088 | +276.1% |
| Other amounts receivable | 41 | €123,719 | €159,960 | +€36,241 | +29.3% |
| Cash at bank and in hand | 54/58 | €82,145 | €24,459 | -€57,686 | -70.2% |
| Deferred charges and accrued income | 490/1 | €0 | €0 | = | 0.0% |
| Total equity and liabilities | 10/49 | €672,394 | €640,745 | -€31,649 | -4.7% |
| Equity | 10/15 | €668,990 | €624,791 | -€44,198 | -6.6% |
| Contributions | 10/11 | €18,619 | €18,619 | = | 0.0% |
| Reserves | 13 | €393,346 | €369,828 | -€23,518 | -6.0% |
| Tax-exempt reserves | 132 | €371,204 | €347,686 | -€23,518 | -6.3% |
| Distributable reserves | 133 | €22,142 | €22,142 | = | 0.0% |
| Profit (loss) carried forward | 14 | €257,025 | €236,344 | -€20,681 | -8.0% |
| Amounts payable | 17/49 | €3,405 | €15,954 | +€12,549 | +368.6% |
| Amounts payable within one year | 42/48 | €1,405 | €13,954 | +€12,549 | +893.3% |
| Trade debts | 44 | €1,405 | €13,954 | +€12,549 | +893.3% |
| Suppliers | 440/4 | €1,405 | €13,954 | +€12,549 | +893.3% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Non-recurring operating income | 76A | €138,559 | - | -€138,559 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,514 | €24,580 | -€52,934 | -68.3% |
| Other operating charges | 640/8 | €2,686 | €508 | -€2,177 | -81.1% |
| Gross operating margin | 9900 | €142,633 | -€12,258 | -€154,891 | |
| Operating profit (loss) | 9901 | €62,433 | -€37,347 | -€99,780 | |
| Financial charges | 65/66B | €20,759 | €602 | -€20,157 | -97.1% |
| Recurring financial charges | 65 | €20,759 | €602 | -€20,157 | -97.1% |
| Profit (loss) for the period before taxes | 9903 | €41,674 | -€37,948 | -€79,623 | |
| Profit (loss) for the period | 9904 | €41,674 | -€37,948 | -€79,623 | |
| Transfer from tax-exempt reserves | 789 | - | €11,759 | +€11,759 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,674 | -€26,189 | -€67,864 |
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 11 October 2026 via checked.be.