ARDENRENT: 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.
ARDENRENT
Largest movements
- Tangible fixed assets -€198,110
down €198,110 (-23.0%), from €862,853 to €664,743
of which Leasing and similar rights: -€232,474
- Receivables within one year -€112,447
down €112,447 (-27.8%), from €404,238 to €291,791
of which Trade receivables: -€69,603
- Cash +€45,357
up €45,357 (+39.4%), from €115,005 to €160,362
mainly Depreciation (+€248,820) and Receivables within one year (+€112,447)
- Debts after one year -€198,881
down €198,881 (-36.8%), from €540,645 to €341,765
- Profit (loss) carried forward -€54,731
down €54,731 (-11.3%), from €483,053 to €428,322
- Reserves -€19,486
down €19,486 (-31.3%), from €62,280 to €42,794
of which Tax-exempt reserves: -€19,486
- Gross operating margin -€67,397
down €67,397 (-24.1%), from €279,271 to €211,874
- Write-downs -€56,022
no longer reported in 2025 (was €56,022)
- Depreciation +€9,072
up €9,072 (+3.8%), from €239,749 to €248,820
- Staff costs +€5,889
up €5,889 (+59.9%), from €9,833 to €15,722
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 | €1,432,744 | €1,159,939 | -€272,805 | -19.0% |
| Fixed assets | 21/28 | €862,853 | €664,743 | -€198,110 | -23.0% |
| Tangible fixed assets | 22/27 | €862,853 | €664,743 | -€198,110 | -23.0% |
| Land and buildings | 22 | €8,867 | €8,867 | = | 0.0% |
| Plant, machinery and equipment | 23 | €20,962 | €9,176 | -€11,786 | -56.2% |
| Furniture and vehicles | 24 | €5,625 | €41,543 | +€35,918 | +639% |
| Leasing and similar rights | 25 | €654,891 | €422,417 | -€232,474 | -35.5% |
| Assets under construction and advance payments | 27 | €172,508 | €182,739 | +€10,231 | +5.9% |
| Current assets | 29/58 | €569,891 | €495,196 | -€74,695 | -13.1% |
| Amounts receivable within one year | 40/41 | €404,238 | €291,791 | -€112,447 | -27.8% |
| Trade receivables | 40 | €339,209 | €269,605 | -€69,603 | -20.5% |
| Other amounts receivable | 41 | €65,029 | €22,185 | -€42,844 | -65.9% |
| Cash at bank and in hand | 54/58 | €115,005 | €160,362 | +€45,357 | +39.4% |
| Deferred charges and accrued income | 490/1 | €50,648 | €43,044 | -€7,604 | -15.0% |
| Total equity and liabilities | 10/49 | €1,432,744 | €1,159,939 | -€272,805 | -19.0% |
| Equity | 10/15 | €564,059 | €489,842 | -€74,217 | -13.2% |
| Contributions | 10/11 | €18,726 | €18,726 | = | 0.0% |
| Reserves | 13 | €62,280 | €42,794 | -€19,486 | -31.3% |
| Tax-exempt reserves | 132 | €60,408 | €40,922 | -€19,486 | -32.3% |
| Distributable reserves | 133 | €1,873 | €1,873 | = | 0.0% |
| Profit (loss) carried forward | 14 | €483,053 | €428,322 | -€54,731 | -11.3% |
| Provisions and deferred taxes | 16 | €20,558 | €14,063 | -€6,495 | -31.6% |
| Deferred taxes | 168 | €20,558 | €14,063 | -€6,495 | -31.6% |
| Amounts payable | 17/49 | €848,127 | €656,035 | -€192,093 | -22.6% |
| Amounts payable after more than one year | 17 | €540,645 | €341,765 | -€198,881 | -36.8% |
| Financial debts | 170/4 | €540,645 | €341,765 | -€198,881 | -36.8% |
| Amounts payable within one year | 42/48 | €304,464 | €311,751 | +€7,287 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €160,116 | €155,580 | -€4,536 | -2.8% |
| Trade debts | 44 | €106,166 | €103,784 | -€2,381 | -2.2% |
| Suppliers | 440/4 | €106,166 | €103,784 | -€2,381 | -2.2% |
| Taxes, remuneration and social security | 45 | €38,116 | €52,320 | +€14,204 | +37.3% |
| Taxes | 450/3 | €36,229 | €48,820 | +€12,590 | +34.8% |
| Remuneration and social security | 454/9 | €1,887 | €3,500 | +€1,614 | +85.5% |
| Other amounts payable | 47/48 | €66 | €66 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,018 | €2,519 | -€499 | -16.5% |
| Remuneration, social security and pensions | 62 | €9,833 | €15,722 | +€5,889 | +59.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €239,749 | €248,820 | +€9,072 | +3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €56,022 | - | -€56,022 | |
| Other operating charges | 640/8 | €18,445 | €16,596 | -€1,849 | -10.0% |
| Gross operating margin | 9900 | €279,271 | €211,874 | -€67,397 | -24.1% |
| Operating profit (loss) | 9901 | -€44,777 | -€69,264 | -€24,487 | -54.7% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €12,396 | €11,152 | -€1,244 | -10.0% |
| Recurring financial charges | 65 | €12,396 | €11,152 | -€1,244 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | -€57,168 | -€80,417 | -€23,248 | -40.7% |
| Transfer from deferred taxes | 780 | €6,495 | €6,495 | = | 0.0% |
| Income taxes | 67/77 | €1,475 | €178 | -€1,297 | -87.9% |
| Profit (loss) for the period | 9904 | -€52,148 | -€74,100 | -€21,951 | -42.1% |
| Transfer from tax-exempt reserves | 789 | €19,486 | €19,486 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,662 | -€54,614 | -€21,951 | -67.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.