IMMO ARDENAS: 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.
IMMO ARDENAS
Largest movements
- Receivables within one year -€267,592
down €267,592 (-96.5%), from €277,233 to €9,641
- Stocks and contracts +€250,771
up €250,771 (+34.0%), from €738,635 to €989,406
- Cash -€10,437
down €10,437 (-100%), from €10,437 to €0
mainly Stocks and contracts (-€250,771) and Tax, wage and social debts (-€51,658)
- Trade debts +€118,754
up €118,754 (+262%), from €45,367 to €164,121
- Tax, wage and social debts -€51,658
down €51,658 (-100%), from €51,658 to €0
- Profit (loss) carried forward -€49,628
down €49,628 (-30.6%), from €161,984 to €112,356
- Current portion of long-term debt -€44,692
down €44,692 (-6.0%), from €750,000 to €705,308
- Financial charges -€4,566
down €4,566 (-9.7%), from €46,848 to €42,282
- Financial income +€1,743
new in 2025: €1,743
- Gross operating margin -€726
down €726 (-13.8%), from -€5,272 to -€5,998
- Other operating charges +€415
up €415 (+15.5%), from €2,677 to €3,092
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,027,009 | €999,786 | -€27,224 | -2.7% |
| Current assets | 29/58 | €1,027,009 | €999,786 | -€27,224 | -2.7% |
| Stocks and contracts in progress | 3 | €738,635 | €989,406 | +€250,771 | +34.0% |
| Stocks | 30/36 | €738,635 | €989,406 | +€250,771 | +34.0% |
| Amounts receivable within one year | 40/41 | €277,233 | €9,641 | -€267,592 | -96.5% |
| Other amounts receivable | 41 | €277,233 | €9,641 | -€267,592 | -96.5% |
| Cash at bank and in hand | 54/58 | €10,437 | €0 | -€10,437 | -100% |
| Deferred charges and accrued income | 490/1 | €704 | €738 | +€35 | +4.9% |
| Total equity and liabilities | 10/49 | €1,027,009 | €999,786 | -€27,224 | -2.7% |
| Equity | 10/15 | €179,984 | €130,356 | -€49,628 | -27.6% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €161,984 | €112,356 | -€49,628 | -30.6% |
| Amounts payable | 17/49 | €847,025 | €869,429 | +€22,404 | +2.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €847,025 | €869,429 | +€22,404 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €750,000 | €705,308 | -€44,692 | -6.0% |
| Trade debts | 44 | €45,367 | €164,121 | +€118,754 | +262% |
| Suppliers | 440/4 | €45,367 | €164,121 | +€118,754 | +262% |
| Taxes, remuneration and social security | 45 | €51,658 | €0 | -€51,658 | -100% |
| Taxes | 450/3 | €51,658 | €0 | -€51,658 | -100% |
| Other operating charges | 640/8 | €2,677 | €3,092 | +€415 | +15.5% |
| Gross operating margin | 9900 | -€5,272 | -€5,998 | -€726 | -13.8% |
| Operating profit (loss) | 9901 | -€7,948 | -€9,089 | -€1,141 | -14.4% |
| Financial income | 75/76B | - | €1,743 | +€1,743 | |
| Recurring financial income | 75 | - | €1,743 | +€1,743 | |
| Financial charges | 65/66B | €46,848 | €42,282 | -€4,566 | -9.7% |
| Recurring financial charges | 65 | €46,848 | €42,282 | -€4,566 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | -€54,796 | -€49,628 | +€5,168 | +9.4% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€54,796 | -€49,628 | +€5,168 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,796 | -€49,628 | +€5,168 | +9.4% |
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 13 October 2026 via checked.be.