Ardus: 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.
What changed
Ardus
NACE 74.209, Other photographic activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€3,714
2024 · -€7,045+€3,331
Equity
€2.3m
2024 · €2.3m-€3,714
Cash
€23,458
2024 · €6,750+€16,707
Balance sheet total
€2.6m
2024 · €2.5m+€46,539
Largest movements
Assets
- Tangible fixed assets +€30,759
up €30,759 (+1.2%), from €2.5m to €2.5m
of which Land and buildings: +€39,263
Equity and liabilities
- Debts after one year +€41,281
up €41,281 (+851%), from €4,850 to €46,131
of which Financial debts: +€39,120
Income statement
- Gross operating margin +€6,569
up €6,569 (+18.2%), from €36,115 to €42,684
- Financial income -€2,343
down €2,343 (-100%), from €2,343 to €0
of which Non-recurring financial income: -€1,560
- Financial charges +€2,168
up €2,168, from -€1,672 to €497
- Other operating charges +€1,270
up €1,270 (+13.7%), from €9,288 to €10,558
- Depreciation -€1,239
down €1,239 (-3.4%), from €36,583 to €35,344
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.
Result 2024
-€7,045
Gross operating margin
+€6,569
Depreciation
+€1,239
Other operating charges
-€1,270
Other operating items
+€1,303
Financial income
-€2,343
Financial charges
-€2,168
Result 2025
-€3,714
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€31,104
Investment
-€66,102
Financing
+€51,706
Cash 2024
€6,750
From operations (derived)
+€31,104
Net result for the year
-€3,714
Depreciation
+€35,344
Receivables within one year
+€1,142
Deferred charges and accrued income
-€215
Trade debts
+€5,290
Tax, wage and social debts
-€1,389
Other debts
-€5,354
Investment (derived)
-€66,102
Investment in fixed assets (net)
-€66,102
Financing
+€51,706
Debts after one year
+€41,281
Short-term financial debts
+€10,425
Cash 2025
€23,458
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,529,373 | €2,575,912 | +€46,539 | +1.8% |
| Fixed assets | 21/28 | €2,518,060 | €2,548,818 | +€30,759 | +1.2% |
| Tangible fixed assets | 22/27 | €2,518,060 | €2,548,818 | +€30,759 | +1.2% |
| Land and buildings | 22 | €2,161,803 | €2,201,066 | +€39,263 | +1.8% |
| Plant, machinery and equipment | 23 | €1,287 | €1,004 | -€282 | -21.9% |
| Furniture and vehicles | 24 | €35,880 | €27,658 | -€8,222 | -22.9% |
| Other tangible fixed assets | 26 | €319,090 | €319,090 | = | 0.0% |
| Current assets | 29/58 | €11,313 | €27,093 | +€15,780 | +139% |
| Stocks and contracts in progress | 3 | €300 | €300 | = | 0.0% |
| Stocks | 30/36 | €300 | €300 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,712 | €570 | -€1,142 | -66.7% |
| Trade receivables | 40 | €1,605 | €462 | -€1,142 | -71.2% |
| Other amounts receivable | 41 | €108 | €108 | = | 0.0% |
| Current investments | 50/53 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,750 | €23,458 | +€16,707 | +248% |
| Deferred charges and accrued income | 490/1 | €2,051 | €2,266 | +€215 | +10.5% |
| Total equity and liabilities | 10/49 | €2,529,373 | €2,575,912 | +€46,539 | +1.8% |
| Equity | 10/15 | €2,336,137 | €2,332,423 | -€3,714 | -0.2% |
| Contributions | 10/11 | €2,420,563 | €2,420,563 | = | 0.0% |
| Reserves | 13 | €9,091 | €9,091 | = | 0.0% |
| Distributable reserves | 133 | €9,091 | €9,091 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,517 | -€97,231 | -€3,714 | -4.0% |
| Amounts payable | 17/49 | €193,235 | €243,489 | +€50,253 | +26.0% |
| Amounts payable after more than one year | 17 | €4,850 | €46,131 | +€41,281 | +851% |
| Financial debts | 170/4 | - | €39,120 | +€39,120 | |
| Other amounts payable | 178/9 | €4,850 | €7,011 | +€2,161 | +44.6% |
| Amounts payable within one year | 42/48 | €188,385 | €197,358 | +€8,973 | +4.8% |
| Financial debts | 43 | - | €10,425 | +€10,425 | |
| Credit institutions | 430/8 | - | €10,425 | +€10,425 | |
| Trade debts | 44 | €302 | €5,592 | +€5,290 | +1,752% |
| Suppliers | 440/4 | €302 | €5,592 | +€5,290 | +1,752% |
| Taxes, remuneration and social security | 45 | €6,225 | €4,836 | -€1,389 | -22.3% |
| Taxes | 450/3 | €6,225 | €4,836 | -€1,389 | -22.3% |
| Other amounts payable | 47/48 | €181,858 | €176,504 | -€5,354 | -2.9% |
| Non-recurring operating income | 76A | €9,250 | €0 | -€9,250 | -100% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,583 | €35,344 | -€1,239 | -3.4% |
| Other operating charges | 640/8 | €9,288 | €10,558 | +€1,270 | +13.7% |
| Non-recurring operating charges | 66A | €1,303 | €0 | -€1,303 | -100% |
| Gross operating margin | 9900 | €36,115 | €42,684 | +€6,569 | +18.2% |
| Operating profit (loss) | 9901 | -€11,059 | -€3,218 | +€7,841 | +70.9% |
| Financial income | 75/76B | €2,343 | €0 | -€2,343 | -100% |
| Recurring financial income | 75 | €783 | €0 | -€783 | -100% |
| Non-recurring financial income | 76B | €1,560 | - | -€1,560 | |
| Financial charges | 65/66B | -€1,672 | €497 | +€2,168 | |
| Recurring financial charges | 65 | -€1,672 | €497 | +€2,168 | |
| Profit (loss) for the period before taxes | 9903 | -€7,045 | -€3,714 | +€3,331 | +47.3% |
| Profit (loss) for the period | 9904 | -€7,045 | -€3,714 | +€3,331 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,045 | -€3,714 | +€3,331 | +47.3% |
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 19 October 2026 via checked.be.