ARDIVEST: 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.
ARDIVEST
Largest movements
- Receivables within one year -€86,268
down €86,268 (-39.8%), from €216,512 to €130,244
of which Other amounts receivable: -€59,325
- Tangible fixed assets -€46,113
down €46,113 (-4.2%), from €1.1m to €1.0m
- Debts after one year -€77,419
down €77,419 (-7.5%), from €1.0m to €956,156
- Trade debts -€58,472
down €58,472 (-92.6%), from €63,141 to €4,668
- Other debts -€16,200
down €16,200 (-52.9%), from €30,600 to €14,400
- Gross operating margin +€14,219
up €14,219 (+15.8%), from €89,805 to €104,024
- Financial charges +€2,798
up €2,798 (+8.7%), from €32,189 to €34,987
- Depreciation +€1,094
up €1,094 (+2.4%), from €45,019 to €46,113
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 | €1,320,815 | €1,188,584 | -€132,231 | -10.0% |
| Fixed assets | 21/28 | €1,094,794 | €1,048,681 | -€46,113 | -4.2% |
| Tangible fixed assets | 22/27 | €1,094,794 | €1,048,681 | -€46,113 | -4.2% |
| Land and buildings | 22 | €1,094,794 | €1,048,681 | -€46,113 | -4.2% |
| Current assets | 29/58 | €226,021 | €139,902 | -€86,118 | -38.1% |
| Amounts receivable within one year | 40/41 | €216,512 | €130,244 | -€86,268 | -39.8% |
| Trade receivables | 40 | €26,943 | - | -€26,943 | |
| Other amounts receivable | 41 | €189,569 | €130,244 | -€59,325 | -31.3% |
| Cash at bank and in hand | 54/58 | €9,509 | €9,659 | +€149 | +1.6% |
| Total equity and liabilities | 10/49 | €1,320,815 | €1,188,584 | -€132,231 | -10.0% |
| Equity | 10/15 | €107,763 | €119,323 | +€11,560 | +10.7% |
| Contributions | 10/11 | €102,876 | €102,876 | = | 0.0% |
| Capital | 10 | €102,876 | €102,876 | = | 0.0% |
| Issued capital | 100 | €102,876 | €102,876 | = | 0.0% |
| Reserves | 13 | €19,025 | €19,025 | = | 0.0% |
| Non-distributable reserves | 130/1 | €749 | €749 | = | 0.0% |
| Legal reserve | 130 | €749 | €749 | = | 0.0% |
| Distributable reserves | 133 | €18,276 | €18,276 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,137 | -€2,578 | +€11,560 | +81.8% |
| Amounts payable | 17/49 | €1,213,051 | €1,069,260 | -€143,791 | -11.9% |
| Amounts payable after more than one year | 17 | €1,033,575 | €956,156 | -€77,419 | -7.5% |
| Financial debts | 170/4 | €1,033,575 | €956,156 | -€77,419 | -7.5% |
| Amounts payable within one year | 42/48 | €177,690 | €110,347 | -€67,342 | -37.9% |
| Current portion of amounts payable after more than one year | 42 | €79,221 | €78,670 | -€551 | -0.7% |
| Trade debts | 44 | €63,141 | €4,668 | -€58,472 | -92.6% |
| Suppliers | 440/4 | €63,141 | €4,668 | -€58,472 | -92.6% |
| Advances received on contracts in progress | 46 | - | €8,000 | +€8,000 | |
| Taxes, remuneration and social security | 45 | €4,728 | €4,609 | -€119 | -2.5% |
| Taxes | 450/3 | €4,728 | €4,609 | -€119 | -2.5% |
| Other amounts payable | 47/48 | €30,600 | €14,400 | -€16,200 | -52.9% |
| Accrued charges and deferred income | 492/3 | €1,787 | €2,757 | +€970 | +54.3% |
| Non-recurring operating income | 76A | - | €7,877 | +€7,877 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,019 | €46,113 | +€1,094 | +2.4% |
| Other operating charges | 640/8 | €10,931 | €11,364 | +€433 | +4.0% |
| Gross operating margin | 9900 | €89,805 | €104,024 | +€14,219 | +15.8% |
| Operating profit (loss) | 9901 | €33,855 | €46,547 | +€12,692 | +37.5% |
| Financial charges | 65/66B | €32,189 | €34,987 | +€2,798 | +8.7% |
| Recurring financial charges | 65 | €32,189 | €34,987 | +€2,798 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €1,666 | €11,560 | +€9,894 | +594% |
| Profit (loss) for the period | 9904 | €1,666 | €11,560 | +€9,894 | +594% |
| Profit (loss) for the period to be appropriated | 9905 | €1,666 | €11,560 | +€9,894 | +594% |
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 17 October 2026 via checked.be.