ARDIC: 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.
ARDIC
Largest movements
- Tangible fixed assets +€87,578
up €87,578 (+373.8%), from €23,430 to €111,008
of which Furniture and vehicles: +€86,748
- Cash -€36,515
down €36,515 (-64.7%), from €56,413 to €19,898
mainly Investment in fixed assets (net) (-€104,722) and Trade debts (-€48,230)
- Receivables within one year -€29,499
down €29,499 (-25.4%), from €115,952 to €86,453
of which Trade receivables: -€43,773
- Deferred charges and accrued income +€10,541
up €10,541 (+320.5%), from €3,289 to €13,830
- Trade debts -€48,230
down €48,230 (-64.8%), from €74,455 to €26,225
- Debts after one year +€41,458
new in 2025: €41,458
- Reserves +€17,931
up €17,931 (+48.7%), from €36,853 to €54,784
of which Distributable reserves: +€17,931
- Current portion of long-term debt +€17,305
new in 2025: €17,305
- Profit (loss) carried forward +€2,784
up €2,784 (+21.5%), from €12,931 to €15,715
- Gross operating margin +€52,149
up €52,149 (+21.8%), from €239,420 to €291,569
- Staff costs +€29,663
up €29,663 (+15.0%), from €197,977 to €227,640
- Depreciation +€11,346
up €11,346 (+195.6%), from €5,799 to €17,145
- Other operating charges +€9,364
up €9,364 (+263.1%), from €3,560 to €12,923
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 | €199,084 | €231,189 | +€32,104 | +16.1% |
| Fixed assets | 21/28 | €23,430 | €111,008 | +€87,578 | +373.8% |
| Tangible fixed assets | 22/27 | €23,430 | €111,008 | +€87,578 | +373.8% |
| Plant, machinery and equipment | 23 | €1,928 | €2,757 | +€829 | +43.0% |
| Furniture and vehicles | 24 | €21,503 | €108,251 | +€86,748 | +403.4% |
| Current assets | 29/58 | €175,654 | €120,181 | -€55,473 | -31.6% |
| Amounts receivable within one year | 40/41 | €115,952 | €86,453 | -€29,499 | -25.4% |
| Trade receivables | 40 | €91,904 | €48,131 | -€43,773 | -47.6% |
| Other amounts receivable | 41 | €24,048 | €38,322 | +€14,274 | +59.4% |
| Cash at bank and in hand | 54/58 | €56,413 | €19,898 | -€36,515 | -64.7% |
| Deferred charges and accrued income | 490/1 | €3,289 | €13,830 | +€10,541 | +320.5% |
| Total equity and liabilities | 10/49 | €199,084 | €231,189 | +€32,104 | +16.1% |
| Equity | 10/15 | €68,384 | €89,099 | +€20,715 | +30.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,853 | €54,784 | +€17,931 | +48.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €32,493 | €50,424 | +€17,931 | +55.2% |
| Profit (loss) carried forward | 14 | €12,931 | €15,715 | +€2,784 | +21.5% |
| Amounts payable | 17/49 | €130,700 | €142,090 | +€11,389 | +8.7% |
| Amounts payable after more than one year | 17 | - | €41,458 | +€41,458 | |
| Financial debts | 170/4 | - | €41,458 | +€41,458 | |
| Amounts payable within one year | 42/48 | €130,700 | €100,632 | -€30,069 | -23.0% |
| Current portion of amounts payable after more than one year | 42 | - | €17,305 | +€17,305 | |
| Financial debts | 43 | - | €55 | +€55 | |
| Credit institutions | 430/8 | - | €55 | +€55 | |
| Trade debts | 44 | €74,455 | €26,225 | -€48,230 | -64.8% |
| Suppliers | 440/4 | €74,455 | €26,225 | -€48,230 | -64.8% |
| Taxes, remuneration and social security | 45 | €53,509 | €53,931 | +€422 | +0.8% |
| Taxes | 450/3 | €15,129 | €12,601 | -€2,528 | -16.7% |
| Remuneration and social security | 454/9 | €38,380 | €41,330 | +€2,950 | +7.7% |
| Other amounts payable | 47/48 | €2,737 | €3,117 | +€380 | +13.9% |
| Remuneration, social security and pensions | 62 | €197,977 | €227,640 | +€29,663 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,799 | €17,145 | +€11,346 | +195.6% |
| Other operating charges | 640/8 | €3,560 | €12,923 | +€9,364 | +263.1% |
| Gross operating margin | 9900 | €239,420 | €291,569 | +€52,149 | +21.8% |
| Operating profit (loss) | 9901 | €32,084 | €33,861 | +€1,776 | +5.5% |
| Financial income | 75/76B | €6 | €716 | +€710 | +12751.3% |
| Recurring financial income | 75 | €6 | €716 | +€710 | +12751.3% |
| Financial charges | 65/66B | €3,239 | €2,639 | -€600 | -18.5% |
| Recurring financial charges | 65 | €3,239 | €2,639 | -€600 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €28,851 | €31,937 | +€3,087 | +10.7% |
| Income taxes | 67/77 | €10,919 | €11,222 | +€303 | +2.8% |
| Profit (loss) for the period | 9904 | €17,931 | €20,715 | +€2,784 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €17,931 | €20,715 | +€2,784 | +15.5% |
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 3 October 2026 via checked.be.