ARDOVIT +: 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.
ARDOVIT +
Largest movements
- Cash -€27,014
down €27,014 (-11.7%), from €231,731 to €204,716
mainly Investment in fixed assets (net) (-€49,873) and Current portion of long-term debt (-€35,824)
- Tangible fixed assets +€22,624
up €22,624 (+9.3%), from €243,520 to €266,144
of which Furniture and vehicles: +€36,164
- Reserves +€57,352
up €57,352 (+15.0%), from €382,508 to €439,861
of which Distributable reserves: +€57,352
- Current portion of long-term debt -€35,824
down €35,824 (-65.8%), from €54,441 to €18,618
- Debts after one year -€21,670
no longer reported in 2025 (was €21,670)
- Other debts -€5,550
down €5,550 (-13.5%), from €41,007 to €35,457
- Financial income +€7,046
new in 2025: €7,046
- Depreciation +€3,969
up €3,969 (+17.0%), from €23,280 to €27,249
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 | €539,274 | €528,949 | -€10,325 | -1.9% |
| Fixed assets | 21/28 | €243,523 | €266,147 | +€22,624 | +9.3% |
| Tangible fixed assets | 22/27 | €243,520 | €266,144 | +€22,624 | +9.3% |
| Land and buildings | 22 | €243,223 | €229,683 | -€13,539 | -5.6% |
| Furniture and vehicles | 24 | €297 | €36,461 | +€36,164 | +12162.4% |
| Financial fixed assets | 28 | €3 | €3 | = | 0.0% |
| Current assets | 29/58 | €295,751 | €262,802 | -€32,949 | -11.1% |
| Stocks and contracts in progress | 3 | €20,736 | €20,056 | -€679 | -3.3% |
| Stocks | 30/36 | €20,736 | €20,056 | -€679 | -3.3% |
| Amounts receivable within one year | 40/41 | €37,614 | €34,978 | -€2,636 | -7.0% |
| Trade receivables | 40 | €32,036 | €31,697 | -€339 | -1.1% |
| Other amounts receivable | 41 | €5,578 | €3,280 | -€2,297 | -41.2% |
| Cash at bank and in hand | 54/58 | €231,731 | €204,716 | -€27,014 | -11.7% |
| Deferred charges and accrued income | 490/1 | €5,670 | €3,051 | -€2,619 | -46.2% |
| Total equity and liabilities | 10/49 | €539,274 | €528,949 | -€10,325 | -1.9% |
| Equity | 10/15 | €388,708 | €446,061 | +€57,352 | +14.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €382,508 | €439,861 | +€57,352 | +15.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €380,648 | €438,001 | +€57,352 | +15.1% |
| Amounts payable | 17/49 | €150,565 | €82,888 | -€67,677 | -44.9% |
| Amounts payable after more than one year | 17 | €21,670 | - | -€21,670 | |
| Financial debts | 170/4 | €21,670 | - | -€21,670 | |
| Amounts payable within one year | 42/48 | €124,291 | €81,550 | -€42,741 | -34.4% |
| Current portion of amounts payable after more than one year | 42 | €54,441 | €18,618 | -€35,824 | -65.8% |
| Trade debts | 44 | €27,355 | €26,373 | -€982 | -3.6% |
| Suppliers | 440/4 | €27,355 | €26,373 | -€982 | -3.6% |
| Taxes, remuneration and social security | 45 | €1,488 | €1,103 | -€385 | -25.9% |
| Taxes | 450/3 | €1,488 | €1,103 | -€385 | -25.9% |
| Other amounts payable | 47/48 | €41,007 | €35,457 | -€5,550 | -13.5% |
| Accrued charges and deferred income | 492/3 | €4,604 | €1,338 | -€3,266 | -70.9% |
| Non-recurring operating income | 76A | €286 | €7,575 | +€7,290 | +2552.0% |
| Remuneration, social security and pensions | 62 | €592 | - | -€592 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,280 | €27,249 | +€3,969 | +17.0% |
| Other operating charges | 640/8 | €3,231 | €4,010 | +€779 | +24.1% |
| Non-recurring operating charges | 66A | €143 | - | -€143 | |
| Gross operating margin | 9900 | €107,871 | €108,055 | +€184 | +0.2% |
| Operating profit (loss) | 9901 | €80,626 | €76,797 | -€3,830 | -4.7% |
| Financial income | 75/76B | - | €7,046 | +€7,046 | |
| Recurring financial income | 75 | - | €7,046 | +€7,046 | |
| Financial charges | 65/66B | €4,561 | €4,353 | -€208 | -4.6% |
| Recurring financial charges | 65 | €4,561 | €4,353 | -€208 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €76,065 | €79,489 | +€3,424 | +4.5% |
| Income taxes | 67/77 | €20,757 | €21,802 | +€1,045 | +5.0% |
| Profit (loss) for the period | 9904 | €55,308 | €57,687 | +€2,379 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €55,308 | €57,687 | +€2,379 | +4.3% |
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 12 October 2026 via checked.be.