ARDREY: 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.
ARDREY
Largest movements
- Cash +€24,879
up €24,879 (+228.4%), from €10,894 to €35,773
mainly Trade debts (+€29,981) and Other debts (+€26,876)
- Receivables within one year -€14,405
down €14,405 (-57.3%), from €25,149 to €10,744
of which Other amounts receivable: -€15,225
- Tangible fixed assets -€8,699
down €8,699 (-32.6%), from €26,699 to €18,000
of which Plant, machinery and equipment: -€5,430
- Deferred charges and accrued income +€6,628
up €6,628 (+814.3%), from €814 to €7,442
- Stocks and contracts +€5,475
new in 2025: €5,475
- Profit (loss) carried forward -€46,118
down €46,118 (-133.3%), from -€34,605 to -€80,723
- Trade debts +€29,981
up €29,981 (+383.4%), from €7,819 to €37,800
- Other debts +€26,876
up €26,876 (+38.7%), from €69,535 to €96,411
- Tax, wage and social debts +€8,867
up €8,867 (+306.1%), from €2,897 to €11,764
of which Remuneration and social security: +€7,881
- Debts after one year -€5,616
down €5,616 (-60.0%), from €9,359 to €3,743
- Staff costs +€32,717
up €32,717 (+161.2%), from €20,300 to €53,017
- Financial income +€1,054
up €1,054 (+4790.9%), from €22 to €1,076
- Financial charges +€764
up €764 (+25.7%), from €2,973 to €3,737
- Gross operating margin -€668
down €668 (-2.9%), from €23,197 to €22,529
- Depreciation +€447
up €447 (+4.5%), from €10,034 to €10,481
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 | €67,005 | €80,133 | +€13,128 | +19.6% |
| Fixed assets | 21/28 | €30,148 | €20,699 | -€9,449 | -31.3% |
| Intangible fixed assets | 21 | €3,049 | €2,299 | -€750 | -24.6% |
| Tangible fixed assets | 22/27 | €26,699 | €18,000 | -€8,699 | -32.6% |
| Plant, machinery and equipment | 23 | €18,577 | €13,147 | -€5,430 | -29.2% |
| Furniture and vehicles | 24 | €8,122 | €4,853 | -€3,269 | -40.2% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €36,857 | €59,434 | +€22,577 | +61.3% |
| Stocks and contracts in progress | 3 | - | €5,475 | +€5,475 | |
| Stocks | 30/36 | - | €5,475 | +€5,475 | |
| Amounts receivable within one year | 40/41 | €25,149 | €10,744 | -€14,405 | -57.3% |
| Trade receivables | 40 | €9,699 | €10,519 | +€820 | +8.5% |
| Other amounts receivable | 41 | €15,450 | €225 | -€15,225 | -98.5% |
| Cash at bank and in hand | 54/58 | €10,894 | €35,773 | +€24,879 | +228.4% |
| Deferred charges and accrued income | 490/1 | €814 | €7,442 | +€6,628 | +814.3% |
| Total equity and liabilities | 10/49 | €67,005 | €80,133 | +€13,128 | +19.6% |
| Equity | 10/15 | -€29,605 | -€75,723 | -€46,118 | -155.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,605 | -€80,723 | -€46,118 | -133.3% |
| Amounts payable | 17/49 | €96,610 | €155,856 | +€59,246 | +61.3% |
| Amounts payable after more than one year | 17 | €9,359 | €3,743 | -€5,616 | -60.0% |
| Financial debts | 170/4 | €9,359 | €3,743 | -€5,616 | -60.0% |
| Amounts payable within one year | 42/48 | €85,866 | €151,590 | +€65,724 | +76.5% |
| Current portion of amounts payable after more than one year | 42 | €5,615 | €5,615 | = | 0.0% |
| Trade debts | 44 | €7,819 | €37,800 | +€29,981 | +383.4% |
| Suppliers | 440/4 | €7,819 | €37,800 | +€29,981 | +383.4% |
| Taxes, remuneration and social security | 45 | €2,897 | €11,764 | +€8,867 | +306.1% |
| Taxes | 450/3 | - | €986 | +€986 | |
| Remuneration and social security | 454/9 | €2,897 | €10,778 | +€7,881 | +272.0% |
| Other amounts payable | 47/48 | €69,535 | €96,411 | +€26,876 | +38.7% |
| Accrued charges and deferred income | 492/3 | €1,385 | €523 | -€862 | -62.2% |
| Remuneration, social security and pensions | 62 | €20,300 | €53,017 | +€32,717 | +161.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,034 | €10,481 | +€447 | +4.5% |
| Other operating charges | 640/8 | €2,341 | €2,025 | -€316 | -13.5% |
| Gross operating margin | 9900 | €23,197 | €22,529 | -€668 | -2.9% |
| Operating profit (loss) | 9901 | -€9,478 | -€42,994 | -€33,516 | -353.6% |
| Financial income | 75/76B | €22 | €1,076 | +€1,054 | +4790.9% |
| Recurring financial income | 75 | €22 | €1,076 | +€1,054 | +4790.9% |
| Financial charges | 65/66B | €2,973 | €3,737 | +€764 | +25.7% |
| Recurring financial charges | 65 | €2,973 | €3,737 | +€764 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,429 | -€45,655 | -€33,226 | -267.3% |
| Income taxes | 67/77 | €140 | €463 | +€323 | +230.7% |
| Profit (loss) for the period | 9904 | -€12,569 | -€46,118 | -€33,549 | -266.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,569 | -€46,118 | -€33,549 | -266.9% |
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 8 October 2026 via checked.be.