ARDHO COLORS: what changed
ARDHO COLORS
Largest movements
- Financial fixed assets +€19,840
up €19,840 (+397%), from €5,000 to €24,840
- Cash +€12,988
up €12,988 (+46.1%), from €28,155 to €41,142
mainly Net result for the year (+€30,439) and Tax, wage and social debts (+€10,968)
- Receivables within one year +€10,017
up €10,017 (+103%), from €9,718 to €19,736
of which Trade receivables: +€9,724
- Tangible fixed assets -€1,706
down €1,706 (-12.5%), from €13,619 to €11,913
of which Other tangible fixed assets: -€1,296
- Reserves +€30,000
up €30,000 (+188%), from €16,000 to €46,000
- Tax, wage and social debts +€10,968
up €10,968 (+128%), from €8,602 to €19,569
- Accrued charges and deferred income -€5,597
down €5,597 (-22.3%), from €25,120 to €19,523
- Trade debts +€4,985
up €4,985 (+72.8%), from €6,848 to €11,833
- Gross operating margin +€20,517
up €20,517 (+70.2%), from €29,241 to €49,758
- Taxes +€6,313
up €6,313 (+80.7%), from €7,827 to €14,140
- Other operating charges +€2,116
up €2,116 (+98.2%), from €2,155 to €4,271
- Financial income +€1,442
up €1,442 (+5,146%), from €28 to €1,470
- Financial charges -€1,092
down €1,092 (-88.9%), from €1,229 to €137
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,652 | €99,236 | +€40,583 | +69.2% |
| Fixed assets | 21/28 | €20,759 | €38,358 | +€17,599 | +84.8% |
| Intangible fixed assets | 21 | €2,140 | €1,605 | -€535 | -25.0% |
| Tangible fixed assets | 22/27 | €13,619 | €11,913 | -€1,706 | -12.5% |
| Furniture and vehicles | 24 | €1,953 | €1,542 | -€410 | -21.0% |
| Other tangible fixed assets | 26 | €11,667 | €10,370 | -€1,296 | -11.1% |
| Financial fixed assets | 28 | €5,000 | €24,840 | +€19,840 | +397% |
| Current assets | 29/58 | €37,893 | €60,878 | +€22,985 | +60.7% |
| Amounts receivable within one year | 40/41 | €9,718 | €19,736 | +€10,017 | +103% |
| Trade receivables | 40 | €9,717 | €19,441 | +€9,724 | +100% |
| Other amounts receivable | 41 | €2 | €294 | +€293 | +16,824% |
| Cash at bank and in hand | 54/58 | €28,155 | €41,142 | +€12,988 | +46.1% |
| Deferred charges and accrued income | 490/1 | €20 | €0 | -€20 | -100% |
| Total equity and liabilities | 10/49 | €58,652 | €99,236 | +€40,583 | +69.2% |
| Equity | 10/15 | €17,829 | €48,267 | +€30,439 | +171% |
| Contributions | 10/11 | €1,700 | €1,700 | = | 0.0% |
| Reserves | 13 | €16,000 | €46,000 | +€30,000 | +188% |
| Distributable reserves | 133 | €16,000 | €46,000 | +€30,000 | +188% |
| Profit (loss) carried forward | 14 | €129 | €567 | +€439 | +341% |
| Amounts payable | 17/49 | €40,824 | €50,968 | +€10,145 | +24.8% |
| Amounts payable within one year | 42/48 | €15,703 | €31,445 | +€15,742 | +100% |
| Trade debts | 44 | €6,848 | €11,833 | +€4,985 | +72.8% |
| Suppliers | 440/4 | €6,848 | €11,833 | +€4,985 | +72.8% |
| Taxes, remuneration and social security | 45 | €8,602 | €19,569 | +€10,968 | +128% |
| Taxes | 450/3 | €8,602 | €19,569 | +€10,968 | +128% |
| Other amounts payable | 47/48 | €254 | €43 | -€211 | -83.1% |
| Accrued charges and deferred income | 492/3 | €25,120 | €19,523 | -€5,597 | -22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,929 | €2,241 | +€312 | +16.2% |
| Other operating charges | 640/8 | €2,155 | €4,271 | +€2,116 | +98.2% |
| Gross operating margin | 9900 | €29,241 | €49,758 | +€20,517 | +70.2% |
| Operating profit (loss) | 9901 | €25,156 | €43,245 | +€18,089 | +71.9% |
| Financial income | 75/76B | €28 | €1,470 | +€1,442 | +5,146% |
| Recurring financial income | 75 | €28 | €1,470 | +€1,442 | +5,146% |
| Financial charges | 65/66B | €1,229 | €137 | -€1,092 | -88.9% |
| Recurring financial charges | 65 | €1,229 | €137 | -€1,092 | -88.9% |
| Profit (loss) for the period before taxes | 9903 | €23,956 | €44,578 | +€20,623 | +86.1% |
| Income taxes | 67/77 | €7,827 | €14,140 | +€6,313 | +80.7% |
| Profit (loss) for the period | 9904 | €16,129 | €30,439 | +€14,310 | +88.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,129 | €30,439 | +€14,310 | +88.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.