ARDENTI: what changed
Two fiscal 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.
ARDENTI
Largest movements
- Cash +€1.6m
up €1.6m (+324.2%), from €487,544 to €2.1m
mainly Current investments (+€850,000) and Net result for the year (+€628,919)
- Current investments -€850,000
down €850,000 (-83.5%), from €1.0m to €167,497
- Tangible fixed assets -€107,814
down €107,814 (-92.5%), from €116,539 to €8,725
of which Furniture and vehicles: -€79,662
- Reserves +€628,919
up €628,919 (+39.6%), from €1.6m to €2.2m
of which Distributable reserves: +€628,919
- Gross operating margin +€289,200
up €289,200 (+44.7%), from €646,699 to €935,899
- Taxes +€109,958
up €109,958 (+58.7%), from €187,163 to €297,122
- Staff costs -€47,678
down €47,678 (-88.4%), from €53,932 to €6,254
- Depreciation -€17,408
down €17,408 (-89.6%), from €19,438 to €2,030
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 | €1,652,971 | €2,267,003 | +€614,033 | +37.1% |
| Fixed assets | 21/28 | €116,539 | €8,725 | -€107,814 | -92.5% |
| Tangible fixed assets | 22/27 | €116,539 | €8,725 | -€107,814 | -92.5% |
| Plant, machinery and equipment | 23 | €30,146 | €1,993 | -€28,152 | -93.4% |
| Furniture and vehicles | 24 | €86,393 | €6,732 | -€79,662 | -92.2% |
| Current assets | 29/58 | €1,536,431 | €2,258,278 | +€721,847 | +47.0% |
| Amounts receivable within one year | 40/41 | €24,685 | €22,380 | -€2,305 | -9.3% |
| Trade receivables | 40 | €17,445 | €1,254 | -€16,191 | -92.8% |
| Other amounts receivable | 41 | €7,239 | €21,126 | +€13,886 | +191.8% |
| Current investments | 50/53 | €1,017,497 | €167,497 | -€850,000 | -83.5% |
| Cash at bank and in hand | 54/58 | €487,544 | €2,068,401 | +€1.6m | +324.2% |
| Deferred charges and accrued income | 490/1 | €6,705 | - | -€6,705 | |
| Total equity and liabilities | 10/49 | €1,652,971 | €2,267,003 | +€614,033 | +37.1% |
| Equity | 10/15 | €1,590,519 | €2,219,438 | +€628,919 | +39.5% |
| Contributions | 10/11 | €664 | €664 | = | 0.0% |
| Reserves | 13 | €1,589,854 | €2,218,774 | +€628,919 | +39.6% |
| Non-distributable reserves | 130/1 | €2,897 | €2,897 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,897 | €2,897 | = | 0.0% |
| Distributable reserves | 133 | €1,586,958 | €2,215,877 | +€628,919 | +39.6% |
| Amounts payable | 17/49 | €62,452 | €47,565 | -€14,886 | -23.8% |
| Amounts payable within one year | 42/48 | €61,762 | €47,268 | -€14,494 | -23.5% |
| Trade debts | 44 | €7,991 | €131 | -€7,860 | -98.4% |
| Suppliers | 440/4 | €7,991 | €131 | -€7,860 | -98.4% |
| Taxes, remuneration and social security | 45 | €53,771 | €47,137 | -€6,635 | -12.3% |
| Taxes | 450/3 | €47,137 | €47,137 | = | 0.0% |
| Remuneration and social security | 454/9 | €6,635 | - | -€6,635 | |
| Accrued charges and deferred income | 492/3 | €690 | €297 | -€392 | -56.9% |
| Non-recurring operating income | 76A | €17,600 | €786,747 | +€769,147 | +4370.2% |
| Remuneration, social security and pensions | 62 | €53,932 | €6,254 | -€47,678 | -88.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,438 | €2,030 | -€17,408 | -89.6% |
| Other operating charges | 640/8 | €1,561 | €1,541 | -€20 | -1.3% |
| Non-recurring operating charges | 66A | - | €26,168 | +€26,168 | |
| Gross operating margin | 9900 | €646,699 | €935,899 | +€289,200 | +44.7% |
| Operating profit (loss) | 9901 | €571,769 | €899,907 | +€328,139 | +57.4% |
| Financial income | 75/76B | €33,491 | €27,204 | -€6,287 | -18.8% |
| Recurring financial income | 75 | €33,491 | €27,204 | -€6,287 | -18.8% |
| Financial charges | 65/66B | €2,772 | €1,070 | -€1,702 | -61.4% |
| Recurring financial charges | 65 | €2,772 | €1,070 | -€1,702 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | €602,488 | €926,041 | +€323,553 | +53.7% |
| Income taxes | 67/77 | €187,163 | €297,122 | +€109,958 | +58.7% |
| Profit (loss) for the period | 9904 | €415,325 | €628,919 | +€213,595 | +51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €415,325 | €628,919 | +€213,595 | +51.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.