Ardmac: 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.
Ardmac
Largest movements
- Receivables within one year +€2.0m
up €2.0m (+98.6%), from €2.0m to €4.0m
of which Trade receivables: +€1.4m
- Cash +€1.0m
up €1.0m (+405.5%), from €258,882 to €1.3m
mainly Trade debts (+€2.2m) and Net result for the year (+€454,093)
- Trade debts +€2.2m
up €2.2m (+629.2%), from €353,200 to €2.6m
- Reserves +€454,093
up €454,093 (+31.0%), from €1.5m to €1.9m
of which Distributable reserves: +€455,953
- Other debts +€315,155
up €315,155 (+375.6%), from €83,917 to €399,072
- Tax, wage and social debts +€65,346
up €65,346 (+284.8%), from €22,946 to €88,292
of which Remuneration and social security: +€72,719
- Gross operating margin +€499,318
up €499,318 (+57.5%), from €868,977 to €1.4m
- Write-downs -€299,142
down €299,142, from €149,571 to -€149,571
- Staff costs +€179,348
up €179,348 (+30.8%), from €582,477 to €761,825
- Other operating charges +€149,571
new in 2025: €149,571
- Taxes +€94,663
up €94,663 (+167.0%), from €56,701 to €151,364
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 | €2,399,630 | €5,415,591 | +€3.0m | +125.7% |
| Current assets | 29/58 | €2,399,630 | €5,415,591 | +€3.0m | +125.7% |
| Stocks and contracts in progress | 3 | €110,050 | €73,254 | -€36,796 | -33.4% |
| Contracts in progress | 37 | €110,050 | €73,254 | -€36,796 | -33.4% |
| Amounts receivable within one year | 40/41 | €2,030,698 | €4,033,766 | +€2.0m | +98.6% |
| Trade receivables | 40 | €667,948 | €2,085,787 | +€1.4m | +212.3% |
| Other amounts receivable | 41 | €1,362,749 | €1,947,979 | +€585,230 | +42.9% |
| Cash at bank and in hand | 54/58 | €258,882 | €1,308,571 | +€1.0m | +405.5% |
| Total equity and liabilities | 10/49 | €2,399,630 | €5,415,591 | +€3.0m | +125.7% |
| Equity | 10/15 | €1,476,119 | €1,930,212 | +€454,093 | +30.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,463,719 | €1,917,812 | +€454,093 | +31.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €1,461,859 | €1,917,812 | +€455,953 | +31.2% |
| Amounts payable | 17/49 | €923,511 | €3,485,379 | +€2.6m | +277.4% |
| Amounts payable within one year | 42/48 | €923,511 | €3,485,379 | +€2.6m | +277.4% |
| Trade debts | 44 | €353,200 | €2,575,488 | +€2.2m | +629.2% |
| Suppliers | 440/4 | €353,200 | €2,575,488 | +€2.2m | +629.2% |
| Advances received on contracts in progress | 46 | €463,449 | €422,527 | -€40,922 | -8.8% |
| Taxes, remuneration and social security | 45 | €22,946 | €88,292 | +€65,346 | +284.8% |
| Taxes | 450/3 | €7,372 | - | -€7,372 | |
| Remuneration and social security | 454/9 | €15,574 | €88,292 | +€72,719 | +466.9% |
| Other amounts payable | 47/48 | €83,917 | €399,072 | +€315,155 | +375.6% |
| Remuneration, social security and pensions | 62 | €582,477 | €761,825 | +€179,348 | +30.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €149,571 | -€149,571 | -€299,142 | |
| Other operating charges | 640/8 | - | €149,571 | +€149,571 | |
| Gross operating margin | 9900 | €868,977 | €1,368,295 | +€499,318 | +57.5% |
| Operating profit (loss) | 9901 | €136,929 | €606,470 | +€469,541 | +342.9% |
| Financial charges | 65/66B | €733 | €1,013 | +€280 | +38.2% |
| Recurring financial charges | 65 | €733 | €1,013 | +€280 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | €136,196 | €605,457 | +€469,261 | +344.5% |
| Income taxes | 67/77 | €56,701 | €151,364 | +€94,663 | +167.0% |
| Profit (loss) for the period | 9904 | €79,495 | €454,093 | +€374,598 | +471.2% |
| Profit (loss) for the period to be appropriated | 9905 | €79,495 | €454,093 | +€374,598 | +471.2% |
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 7 October 2026 via checked.be.