Multisport ARDES: 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.
Multisport ARDES
Largest movements
- Tangible fixed assets +€124,957
up €124,957 (+25.6%), from €487,356 to €612,314
of which Plant, machinery and equipment: +€137,446
- Cash -€23,388
down €23,388 (-11.7%), from €200,337 to €176,949
mainly Investment in fixed assets (net) (-€191,734) and Contributions, distributions and other (-€55,000)
- Debts after one year +€80,549
up €80,549 (+39.9%), from €201,741 to €282,290
- Current portion of long-term debt +€20,430
up €20,430 (+43.1%), from €47,438 to €67,868
- Tax, wage and social debts -€9,092
down €9,092 (-64.7%), from €14,044 to €4,951
of which Taxes: -€8,780
- Trade debts +€8,389
up €8,389 (+66.9%), from €12,544 to €20,933
- Gross operating margin -€59,746
down €59,746 (-25.8%), from €231,450 to €171,704
- Taxes -€17,955
down €17,955 (-50.8%), from €35,361 to €17,406
- Staff costs +€3,033
up €3,033 (+41.0%), from €7,398 to €10,431
- Depreciation +€2,636
up €2,636 (+4.1%), from €64,266 to €66,902
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 | €697,451 | €801,278 | +€103,827 | +14.9% |
| Fixed assets | 21/28 | €487,870 | €612,702 | +€124,832 | +25.6% |
| Intangible fixed assets | 21 | €464 | €339 | -€125 | -27.0% |
| Tangible fixed assets | 22/27 | €487,356 | €612,314 | +€124,957 | +25.6% |
| Land and buildings | 22 | €296,111 | €284,537 | -€11,574 | -3.9% |
| Plant, machinery and equipment | 23 | €189,031 | €326,477 | +€137,446 | +72.7% |
| Furniture and vehicles | 24 | €2,214 | €1,300 | -€914 | -41.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €209,581 | €188,576 | -€21,005 | -10.0% |
| Stocks and contracts in progress | 3 | €3,000 | €3,403 | +€403 | +13.4% |
| Stocks | 30/36 | €3,000 | €3,403 | +€403 | +13.4% |
| Amounts receivable within one year | 40/41 | €6,244 | €8,224 | +€1,980 | +31.7% |
| Trade receivables | 40 | €5,524 | €4,452 | -€1,072 | -19.4% |
| Other amounts receivable | 41 | €720 | €3,772 | +€3,052 | +424% |
| Cash at bank and in hand | 54/58 | €200,337 | €176,949 | -€23,388 | -11.7% |
| Total equity and liabilities | 10/49 | €697,451 | €801,278 | +€103,827 | +14.9% |
| Equity | 10/15 | €365,686 | €370,096 | +€4,411 | +1.2% |
| Contributions | 10/11 | €141,460 | €141,460 | = | 0.0% |
| Reserves | 13 | €29,115 | €29,115 | = | 0.0% |
| Distributable reserves | 133 | €29,115 | €29,115 | = | 0.0% |
| Profit (loss) carried forward | 14 | €195,110 | €199,521 | +€4,411 | +2.3% |
| Amounts payable | 17/49 | €331,765 | €431,181 | +€99,416 | +30.0% |
| Amounts payable after more than one year | 17 | €201,741 | €282,290 | +€80,549 | +39.9% |
| Financial debts | 170/4 | €201,741 | €282,290 | +€80,549 | +39.9% |
| Amounts payable within one year | 42/48 | €129,112 | €148,891 | +€19,780 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €47,438 | €67,868 | +€20,430 | +43.1% |
| Trade debts | 44 | €12,544 | €20,933 | +€8,389 | +66.9% |
| Suppliers | 440/4 | €12,544 | €20,933 | +€8,389 | +66.9% |
| Taxes, remuneration and social security | 45 | €14,044 | €4,951 | -€9,092 | -64.7% |
| Taxes | 450/3 | €13,122 | €4,341 | -€8,780 | -66.9% |
| Remuneration and social security | 454/9 | €922 | €610 | -€312 | -33.9% |
| Other amounts payable | 47/48 | €55,087 | €55,139 | +€53 | +0.1% |
| Accrued charges and deferred income | 492/3 | €913 | - | -€913 | |
| Remuneration, social security and pensions | 62 | €7,398 | €10,431 | +€3,033 | +41.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,266 | €66,902 | +€2,636 | +4.1% |
| Other operating charges | 640/8 | €6,487 | €6,878 | +€391 | +6.0% |
| Gross operating margin | 9900 | €231,450 | €171,704 | -€59,746 | -25.8% |
| Operating profit (loss) | 9901 | €153,299 | €87,493 | -€65,805 | -42.9% |
| Financial income | 75/76B | €46 | €246 | +€200 | +434% |
| Recurring financial income | 75 | €46 | €246 | +€200 | +434% |
| Financial charges | 65/66B | €10,040 | €10,923 | +€883 | +8.8% |
| Recurring financial charges | 65 | €10,040 | €10,923 | +€883 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €143,305 | €76,817 | -€66,488 | -46.4% |
| Income taxes | 67/77 | €35,361 | €17,406 | -€17,955 | -50.8% |
| Profit (loss) for the period | 9904 | €107,944 | €59,411 | -€48,533 | -45.0% |
| Profit (loss) for the period to be appropriated | 9905 | €107,944 | €59,411 | -€48,533 | -45.0% |
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 28 October 2026 via checked.be.