ARDOR IMMO: 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.
ARDOR IMMO
Largest movements
- Tangible fixed assets -€63,051
down €63,051 (-4.3%), from €1.5m to €1.4m
of which Land and buildings: -€61,899
- Cash +€20,510
up €20,510 (+76.9%), from €26,670 to €47,180
mainly Debts after one year (+€80,392) and Depreciation (+€63,051)
- Other debts -€199,376
down €199,376 (-31.7%), from €629,376 to €430,000
- Debts after one year +€80,392
up €80,392 (+11.9%), from €675,686 to €756,077
- Profit (loss) carried forward +€47,001
up €47,001 (+295.0%), from €15,932 to €62,933
- Current portion of long-term debt +€19,196
up €19,196 (+20.5%), from €93,517 to €112,713
- Tax, wage and social debts +€16,104
up €16,104 (+107.0%), from €15,055 to €31,158
- Taxes +€5,967
up €5,967 (+53.5%), from €11,143 to €17,109
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 | €1,504,475 | €1,466,110 | -€38,365 | -2.6% |
| Fixed assets | 21/28 | €1,477,805 | €1,414,754 | -€63,051 | -4.3% |
| Tangible fixed assets | 22/27 | €1,477,805 | €1,414,754 | -€63,051 | -4.3% |
| Land and buildings | 22 | €1,469,186 | €1,407,287 | -€61,899 | -4.2% |
| Furniture and vehicles | 24 | €8,619 | €7,467 | -€1,152 | -13.4% |
| Current assets | 29/58 | €26,670 | €51,356 | +€24,686 | +92.6% |
| Amounts receivable within one year | 40/41 | - | €4,176 | +€4,176 | |
| Trade receivables | 40 | - | €3,552 | +€3,552 | |
| Other amounts receivable | 41 | - | €624 | +€624 | |
| Cash at bank and in hand | 54/58 | €26,670 | €47,180 | +€20,510 | +76.9% |
| Total equity and liabilities | 10/49 | €1,504,475 | €1,466,110 | -€38,365 | -2.6% |
| Equity | 10/15 | €89,050 | €136,050 | +€47,001 | +52.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €54,518 | €54,518 | = | 0.0% |
| Distributable reserves | 133 | €54,518 | €54,518 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,932 | €62,933 | +€47,001 | +295.0% |
| Amounts payable | 17/49 | €1,415,425 | €1,330,059 | -€85,366 | -6.0% |
| Amounts payable after more than one year | 17 | €675,686 | €756,077 | +€80,392 | +11.9% |
| Financial debts | 170/4 | €675,686 | €756,077 | +€80,392 | +11.9% |
| Amounts payable within one year | 42/48 | €739,740 | €573,982 | -€165,758 | -22.4% |
| Current portion of amounts payable after more than one year | 42 | €93,517 | €112,713 | +€19,196 | +20.5% |
| Trade debts | 44 | €1,793 | €111 | -€1,682 | -93.8% |
| Suppliers | 440/4 | €1,793 | €111 | -€1,682 | -93.8% |
| Taxes, remuneration and social security | 45 | €15,055 | €31,158 | +€16,104 | +107.0% |
| Taxes | 450/3 | €15,055 | €31,158 | +€16,104 | +107.0% |
| Other amounts payable | 47/48 | €629,376 | €430,000 | -€199,376 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,051 | €63,051 | = | 0.0% |
| Other operating charges | 640/8 | €17,303 | €17,845 | +€542 | +3.1% |
| Gross operating margin | 9900 | €159,988 | €160,470 | +€482 | +0.3% |
| Operating profit (loss) | 9901 | €79,633 | €79,574 | -€60 | -0.1% |
| Financial charges | 65/66B | €13,973 | €15,464 | +€1,491 | +10.7% |
| Recurring financial charges | 65 | €13,973 | €15,464 | +€1,491 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | €65,660 | €64,110 | -€1,550 | -2.4% |
| Income taxes | 67/77 | €11,143 | €17,109 | +€5,967 | +53.5% |
| Profit (loss) for the period | 9904 | €54,518 | €47,001 | -€7,517 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €54,518 | €47,001 | -€7,517 | -13.8% |
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 5 October 2026 via checked.be.