ARDRICO: 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.
ARDRICO
Largest movements
- Tangible fixed assets -€37,016
down €37,016 (-13.5%), from €273,809 to €236,793
of which Furniture and vehicles: -€19,779
- Cash -€17,635
down €17,635 (-30.6%), from €57,688 to €40,053
mainly Accrued charges and deferred income (-€72,426) and Debts after one year (-€36,163)
- Receivables within one year +€13,494
up €13,494 (+11.6%), from €115,929 to €129,423
of which Trade receivables: +€8,316
- Accrued charges and deferred income -€72,426
down €72,426 (-69.4%), from €104,360 to €31,934
- Trade debts +€51,606
up €51,606 (+224.0%), from €23,035 to €74,642
- Debts after one year -€36,163
down €36,163 (-28.2%), from €128,214 to €92,051
- Tax, wage and social debts -€21,660
no longer reported in 2025 (was €21,660)
- Current portion of long-term debt +€18,192
new in 2025: €18,192
- Depreciation +€5,374
up €5,374 (+17.0%), from €31,642 to €37,016
- Gross operating margin -€5,158
down €5,158 (-9.3%), from €55,692 to €50,534
- Taxes -€2,540
down €2,540 (-47.3%), from €5,373 to €2,832
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 | €447,427 | €406,270 | -€41,157 | -9.2% |
| Fixed assets | 21/28 | €273,809 | €236,793 | -€37,016 | -13.5% |
| Tangible fixed assets | 22/27 | €273,809 | €236,793 | -€37,016 | -13.5% |
| Land and buildings | 22 | €206,327 | €189,090 | -€17,237 | -8.4% |
| Furniture and vehicles | 24 | €67,482 | €47,704 | -€19,779 | -29.3% |
| Current assets | 29/58 | €173,618 | €169,476 | -€4,142 | -2.4% |
| Amounts receivable within one year | 40/41 | €115,929 | €129,423 | +€13,494 | +11.6% |
| Trade receivables | 40 | €115,929 | €124,246 | +€8,316 | +7.2% |
| Other amounts receivable | 41 | - | €5,178 | +€5,178 | |
| Cash at bank and in hand | 54/58 | €57,688 | €40,053 | -€17,635 | -30.6% |
| Total equity and liabilities | 10/49 | €447,427 | €406,270 | -€41,157 | -9.2% |
| Equity | 10/15 | €89,142 | €97,428 | +€8,287 | +9.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €82,942 | €91,228 | +€8,287 | +10.0% |
| Distributable reserves | 133 | €82,942 | €91,228 | +€8,287 | +10.0% |
| Amounts payable | 17/49 | €358,285 | €308,841 | -€49,444 | -13.8% |
| Amounts payable after more than one year | 17 | €128,214 | €92,051 | -€36,163 | -28.2% |
| Financial debts | 170/4 | €128,214 | €92,051 | -€36,163 | -28.2% |
| Amounts payable within one year | 42/48 | €125,711 | €184,856 | +€59,145 | +47.0% |
| Current portion of amounts payable after more than one year | 42 | - | €18,192 | +€18,192 | |
| Trade debts | 44 | €23,035 | €74,642 | +€51,606 | +224.0% |
| Suppliers | 440/4 | €23,035 | €74,642 | +€51,606 | +224.0% |
| Taxes, remuneration and social security | 45 | €21,660 | - | -€21,660 | |
| Taxes | 450/3 | €21,660 | - | -€21,660 | |
| Other amounts payable | 47/48 | €81,015 | €92,022 | +€11,007 | +13.6% |
| Accrued charges and deferred income | 492/3 | €104,360 | €31,934 | -€72,426 | -69.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,642 | €37,016 | +€5,374 | +17.0% |
| Other operating charges | 640/8 | €954 | €983 | +€29 | +3.0% |
| Gross operating margin | 9900 | €55,692 | €50,534 | -€5,158 | -9.3% |
| Operating profit (loss) | 9901 | €23,096 | €12,535 | -€10,561 | -45.7% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €1,624 | €1,416 | -€208 | -12.8% |
| Recurring financial charges | 65 | €1,624 | €1,416 | -€208 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €21,478 | €11,119 | -€10,359 | -48.2% |
| Income taxes | 67/77 | €5,373 | €2,832 | -€2,540 | -47.3% |
| Profit (loss) for the period | 9904 | €16,105 | €8,287 | -€7,818 | -48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,105 | €8,287 | -€7,818 | -48.5% |
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 6 October 2026 via checked.be.