ARDENTAL: 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.
ARDENTAL
Largest movements
- Current investments +€30,335
up €30,335 (+12.2%), from €248,420 to €278,756
- Cash -€15,148
down €15,148 (-64.2%), from €23,587 to €8,440
mainly Current investments (-€30,335) and Other debts (-€29,226)
- Receivables within one year -€6,886
down €6,886 (-64.4%), from €10,688 to €3,802
- Tangible fixed assets -€4,718
down €4,718 (-64.7%), from €7,287 to €2,569
of which Furniture and vehicles: -€3,031
- Reserves +€32,081
up €32,081 (+23.3%), from €137,420 to €169,500
- Other debts -€29,226
down €29,226 (-31.9%), from €91,562 to €62,336
- Gross operating margin -€22,169
down €22,169 (-32.2%), from €68,879 to €46,710
- Taxes +€13,514
up €13,514 (+4,928%), from €274 to €13,789
- Depreciation -€3,985
down €3,985 (-70.3%), from €5,671 to €1,686
- Financial income +€3,134
up €3,134 (+97.7%), from €3,208 to €6,342
- Financial charges +€983
up €983 (+454%), from €217 to €1,199
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 | €291,704 | €296,462 | +€4,758 | +1.6% |
| Fixed assets | 21/28 | €7,287 | €2,569 | -€4,718 | -64.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €7,287 | €2,569 | -€4,718 | -64.7% |
| Plant, machinery and equipment | 23 | €2,415 | €1,753 | -€662 | -27.4% |
| Furniture and vehicles | 24 | €3,031 | €0 | -€3,031 | -100% |
| Other tangible fixed assets | 26 | €1,840 | €816 | -€1,025 | -55.7% |
| Current assets | 29/58 | €284,417 | €293,892 | +€9,475 | +3.3% |
| Amounts receivable within one year | 40/41 | €10,688 | €3,802 | -€6,886 | -64.4% |
| Other amounts receivable | 41 | €10,688 | €3,802 | -€6,886 | -64.4% |
| Current investments | 50/53 | €248,420 | €278,756 | +€30,335 | +12.2% |
| Cash at bank and in hand | 54/58 | €23,587 | €8,440 | -€15,148 | -64.2% |
| Deferred charges and accrued income | 490/1 | €1,722 | €2,895 | +€1,174 | +68.2% |
| Total equity and liabilities | 10/49 | €291,704 | €296,462 | +€4,758 | +1.6% |
| Equity | 10/15 | €199,044 | €231,125 | +€32,081 | +16.1% |
| Contributions | 10/11 | €61,625 | €61,625 | = | 0.0% |
| Reserves | 13 | €137,420 | €169,500 | +€32,081 | +23.3% |
| Distributable reserves | 133 | €137,420 | €169,500 | +€32,081 | +23.3% |
| Amounts payable | 17/49 | €92,659 | €65,337 | -€27,323 | -29.5% |
| Amounts payable within one year | 42/48 | €92,659 | €65,337 | -€27,323 | -29.5% |
| Trade debts | 44 | €1,098 | €3,000 | +€1,903 | +173% |
| Suppliers | 440/4 | €1,098 | €3,000 | +€1,903 | +173% |
| Other amounts payable | 47/48 | €91,562 | €62,336 | -€29,226 | -31.9% |
| Non-recurring operating income | 76A | - | €29,795 | +€29,795 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,671 | €1,686 | -€3,985 | -70.3% |
| Other operating charges | 640/8 | €975 | €1,266 | +€291 | +29.9% |
| Non-recurring operating charges | 66A | - | €3,031 | +€3,031 | |
| Gross operating margin | 9900 | €68,879 | €46,710 | -€22,169 | -32.2% |
| Operating profit (loss) | 9901 | €62,233 | €40,726 | -€21,507 | -34.6% |
| Financial income | 75/76B | €3,208 | €6,342 | +€3,134 | +97.7% |
| Recurring financial income | 75 | €3,208 | €6,342 | +€3,134 | +97.7% |
| Financial charges | 65/66B | €217 | €1,199 | +€983 | +454% |
| Recurring financial charges | 65 | €217 | €1,199 | +€983 | +454% |
| Profit (loss) for the period before taxes | 9903 | €65,225 | €45,869 | -€19,356 | -29.7% |
| Income taxes | 67/77 | €274 | €13,789 | +€13,514 | +4,928% |
| Profit (loss) for the period | 9904 | €64,951 | €32,081 | -€32,870 | -50.6% |
| Profit (loss) for the period to be appropriated | 9905 | €64,951 | €32,081 | -€32,870 | -50.6% |
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 21 October 2026 via checked.be.