IMMO ARDENNES: 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 ARDENNES
Largest movements
- Tangible fixed assets -€11,758
down €11,758 (-3.1%), from €373,430 to €361,672
of which Land and buildings: -€9,199
- Cash -€7,906
down €7,906 (-6.2%), from €127,416 to €119,510
mainly Debts after one year (-€9,064) and Net result for the year (-€8,193)
- Debts after one year -€9,064
down €9,064 (-2.8%), from €318,288 to €309,224
- Profit (loss) carried forward -€8,193
down €8,193 (-22.3%), from -€36,663 to -€44,856
- Purchases and services -€5,345
down €5,345 (-22.8%), from €23,415 to €18,070
- Gross operating margin +€1,210
up €1,210 (+7.7%), from €15,720 to €16,930
- Financial charges +€1,161
up €1,161 (+17.6%), from €6,609 to €7,770
- Depreciation +€528
up €528 (+4.3%), from €12,150 to €12,678
- Taxes -€255
down €255, from €127 to -€127
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 | €628,928 | €609,170 | -€19,757 | -3.1% |
| Fixed assets | 21/28 | €493,610 | €481,852 | -€11,758 | -2.4% |
| Tangible fixed assets | 22/27 | €373,430 | €361,672 | -€11,758 | -3.1% |
| Land and buildings | 22 | €364,973 | €355,773 | -€9,199 | -2.5% |
| Plant, machinery and equipment | 23 | €6,325 | €3,871 | -€2,455 | -38.8% |
| Furniture and vehicles | 24 | €2,132 | €2,028 | -€104 | -4.9% |
| Financial fixed assets | 28 | €120,180 | €120,180 | = | 0.0% |
| Current assets | 29/58 | €135,318 | €127,319 | -€7,999 | -5.9% |
| Amounts receivable within one year | 40/41 | €6,689 | €6,550 | -€139 | -2.1% |
| Trade receivables | 40 | €6,534 | €6,534 | = | 0.0% |
| Other amounts receivable | 41 | €155 | €16 | -€139 | -89.7% |
| Cash at bank and in hand | 54/58 | €127,416 | €119,510 | -€7,906 | -6.2% |
| Deferred charges and accrued income | 490/1 | €1,212 | €1,258 | +€46 | +3.8% |
| Total equity and liabilities | 10/49 | €628,928 | €609,170 | -€19,757 | -3.1% |
| Equity | 10/15 | €184,769 | €176,576 | -€8,193 | -4.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €202,840 | €202,840 | = | 0.0% |
| Distributable reserves | 133 | €202,840 | €202,840 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,663 | -€44,856 | -€8,193 | -22.3% |
| Amounts payable | 17/49 | €444,159 | €432,594 | -€11,564 | -2.6% |
| Amounts payable after more than one year | 17 | €318,288 | €309,224 | -€9,064 | -2.8% |
| Financial debts | 170/4 | €318,288 | €309,224 | -€9,064 | -2.8% |
| Amounts payable within one year | 42/48 | €125,871 | €123,371 | -€2,500 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €8,885 | €9,064 | +€178 | +2.0% |
| Trade debts | 44 | €9,714 | €8,518 | -€1,195 | -12.3% |
| Suppliers | 440/4 | €9,714 | €8,518 | -€1,195 | -12.3% |
| Other amounts payable | 47/48 | €107,272 | €105,788 | -€1,484 | -1.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €23,415 | €18,070 | -€5,345 | -22.8% |
| Remuneration, social security and pensions | 62 | - | €40 | +€40 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,150 | €12,678 | +€528 | +4.3% |
| Other operating charges | 640/8 | €5,404 | €5,290 | -€114 | -2.1% |
| Gross operating margin | 9900 | €15,720 | €16,930 | +€1,210 | +7.7% |
| Operating profit (loss) | 9901 | -€1,834 | -€1,078 | +€756 | +41.2% |
| Financial income | 75/76B | €428 | €527 | +€99 | +23.2% |
| Recurring financial income | 75 | €428 | €527 | +€99 | +23.2% |
| Financial charges | 65/66B | €6,609 | €7,770 | +€1,161 | +17.6% |
| Recurring financial charges | 65 | €6,609 | €7,770 | +€1,161 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,015 | -€8,321 | -€306 | -3.8% |
| Income taxes | 67/77 | €127 | -€127 | -€255 | |
| Profit (loss) for the period | 9904 | -€8,142 | -€8,193 | -€51 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,142 | -€8,193 | -€51 | -0.6% |
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 14 October 2026 via checked.be.