ARDO CONSULTING: 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.
ARDO CONSULTING
Largest movements
- Current investments +€37,181
up €37,181 (+121%), from €30,698 to €67,879
- Cash -€32,134
down €32,134 (-46.3%), from €69,413 to €37,279
mainly Current investments (-€37,181) and Other debts (-€28,676)
- Tangible fixed assets +€5,181
up €5,181 (+8.7%), from €59,657 to €64,838
of which Plant, machinery and equipment: +€18,814
- Intangible fixed assets +€3,809
new in 2025: €3,809
- Receivables within one year +€2,223
up €2,223 (+112%), from €1,986 to €4,209
of which Trade receivables: +€2,821
- Profit (loss) carried forward +€38,307
up €38,307 (+45.3%), from €84,486 to €122,793
- Other debts -€28,676
down €28,676 (-92.8%), from €30,895 to €2,219
- Trade debts +€4,756
up €4,756 (+710%), from €670 to €5,426
- Staff costs +€18,440
new in 2025: €18,440
- Gross operating margin -€8,901
down €8,901 (-8.9%), from €100,488 to €91,587
- Taxes -€7,270
down €7,270 (-31.3%), from €23,192 to €15,922
- Depreciation +€2,331
up €2,331 (+16.8%), from €13,859 to €16,190
- Other operating charges -€1,988
down €1,988 (-55.2%), from €3,599 to €1,611
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 | €162,469 | €178,599 | +€16,130 | +9.9% |
| Fixed assets | 21/28 | €59,657 | €68,857 | +€9,200 | +15.4% |
| Intangible fixed assets | 21 | - | €3,809 | +€3,809 | |
| Tangible fixed assets | 22/27 | €59,657 | €64,838 | +€5,181 | +8.7% |
| Plant, machinery and equipment | 23 | €1,861 | €20,675 | +€18,814 | +1,011% |
| Furniture and vehicles | 24 | €57,796 | €44,163 | -€13,633 | -23.6% |
| Financial fixed assets | 28 | - | €210 | +€210 | |
| Current assets | 29/58 | €102,812 | €109,742 | +€6,930 | +6.7% |
| Amounts receivable after more than one year | 29 | - | €375 | +€375 | |
| Trade receivables | 290 | - | €375 | +€375 | |
| Amounts receivable within one year | 40/41 | €1,986 | €4,209 | +€2,223 | +112% |
| Trade receivables | 40 | €1,259 | €4,080 | +€2,821 | +224% |
| Other amounts receivable | 41 | €727 | €129 | -€598 | -82.2% |
| Current investments | 50/53 | €30,698 | €67,879 | +€37,181 | +121% |
| Cash at bank and in hand | 54/58 | €69,413 | €37,279 | -€32,134 | -46.3% |
| Deferred charges and accrued income | 490/1 | €715 | €0 | -€715 | -100% |
| Total equity and liabilities | 10/49 | €162,469 | €178,599 | +€16,130 | +9.9% |
| Equity | 10/15 | €94,486 | €132,793 | +€38,307 | +40.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,486 | €122,793 | +€38,307 | +45.3% |
| Amounts payable | 17/49 | €67,983 | €45,806 | -€22,177 | -32.6% |
| Amounts payable within one year | 42/48 | €67,983 | €45,806 | -€22,177 | -32.6% |
| Trade debts | 44 | €670 | €5,426 | +€4,756 | +710% |
| Suppliers | 440/4 | €670 | €5,426 | +€4,756 | +710% |
| Taxes, remuneration and social security | 45 | €36,418 | €38,160 | +€1,742 | +4.8% |
| Taxes | 450/3 | €36,418 | €36,045 | -€374 | -1.0% |
| Remuneration and social security | 454/9 | - | €2,116 | +€2,116 | |
| Other amounts payable | 47/48 | €30,895 | €2,219 | -€28,676 | -92.8% |
| Remuneration, social security and pensions | 62 | - | €18,440 | +€18,440 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,859 | €16,190 | +€2,331 | +16.8% |
| Other operating charges | 640/8 | €3,599 | €1,611 | -€1,988 | -55.2% |
| Gross operating margin | 9900 | €100,488 | €91,587 | -€8,901 | -8.9% |
| Operating profit (loss) | 9901 | €83,030 | €55,345 | -€27,685 | -33.3% |
| Financial income | 75/76B | €593 | €1,150 | +€557 | +93.8% |
| Recurring financial income | 75 | €593 | €1,150 | +€557 | +93.8% |
| Financial charges | 65/66B | €112 | €1,433 | +€1,321 | +1,180% |
| Recurring financial charges | 65 | €112 | €1,433 | +€1,321 | +1,180% |
| Profit (loss) for the period before taxes | 9903 | €83,511 | €55,062 | -€28,449 | -34.1% |
| Income taxes | 67/77 | €23,192 | €15,922 | -€7,270 | -31.3% |
| Profit (loss) for the period | 9904 | €60,319 | €39,140 | -€21,179 | -35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €60,319 | €39,140 | -€21,179 | -35.1% |
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 28 October 2026 via checked.be.