ARDORIUS: 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.
ARDORIUS
Largest movements
- Receivables within one year +€72,975
up €72,975 (+295%), from €24,731 to €97,706
- Cash -€9,079
down €9,079 (-79.8%), from €11,373 to €2,294
mainly Receivables within one year (-€72,975) and Contributions, distributions and other (-€60,000)
- Tangible fixed assets -€7,091
down €7,091 (-2.1%), from €342,467 to €335,376
- Other debts +€51,247
up €51,247 (+458%), from €11,190 to €62,437
- Tax, wage and social debts +€23,896
up €23,896 (+190%), from €12,557 to €36,453
- Debts after one year -€17,108
down €17,108 (-6.0%), from €285,368 to €268,260
- Gross operating margin +€11,009
up €11,009 (+13.0%), from €84,856 to €95,865
- Taxes +€9,760
up €9,760 (+166%), from €5,894 to €15,655
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 | €379,400 | €435,975 | +€56,575 | +14.9% |
| Fixed assets | 21/28 | €342,467 | €335,376 | -€7,091 | -2.1% |
| Tangible fixed assets | 22/27 | €342,467 | €335,376 | -€7,091 | -2.1% |
| Land and buildings | 22 | €342,467 | €335,376 | -€7,091 | -2.1% |
| Current assets | 29/58 | €36,933 | €100,600 | +€63,666 | +172% |
| Amounts receivable within one year | 40/41 | €24,731 | €97,706 | +€72,975 | +295% |
| Trade receivables | 40 | €24,731 | €97,706 | +€72,975 | +295% |
| Cash at bank and in hand | 54/58 | €11,373 | €2,294 | -€9,079 | -79.8% |
| Deferred charges and accrued income | 490/1 | €830 | €600 | -€230 | -27.7% |
| Total equity and liabilities | 10/49 | €379,400 | €435,975 | +€56,575 | +14.9% |
| Equity | 10/15 | €47,585 | €45,253 | -€2,332 | -4.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €44,585 | €42,253 | -€2,332 | -5.2% |
| Distributable reserves | 133 | €44,585 | €42,253 | -€2,332 | -5.2% |
| Amounts payable | 17/49 | €331,815 | €390,722 | +€58,907 | +17.8% |
| Amounts payable after more than one year | 17 | €285,368 | €268,260 | -€17,108 | -6.0% |
| Financial debts | 170/4 | €285,368 | €268,260 | -€17,108 | -6.0% |
| Amounts payable within one year | 42/48 | €45,223 | €121,212 | +€75,989 | +168% |
| Current portion of amounts payable after more than one year | 42 | €16,399 | €17,108 | +€709 | +4.3% |
| Trade debts | 44 | €4,072 | €4,488 | +€416 | +10.2% |
| Suppliers | 440/4 | €4,072 | €4,488 | +€416 | +10.2% |
| Advances received on contracts in progress | 46 | €1,004 | €726 | -€278 | -27.7% |
| Taxes, remuneration and social security | 45 | €12,557 | €36,453 | +€23,896 | +190% |
| Taxes | 450/3 | €12,557 | €36,453 | +€23,896 | +190% |
| Other amounts payable | 47/48 | €11,190 | €62,437 | +€51,247 | +458% |
| Accrued charges and deferred income | 492/3 | €1,225 | €1,250 | +€25 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,091 | €7,091 | = | 0.0% |
| Other operating charges | 640/8 | €2,012 | €2,538 | +€525 | +26.1% |
| Gross operating margin | 9900 | €84,856 | €95,865 | +€11,009 | +13.0% |
| Operating profit (loss) | 9901 | €75,752 | €86,236 | +€10,484 | +13.8% |
| Financial charges | 65/66B | €13,633 | €12,913 | -€720 | -5.3% |
| Recurring financial charges | 65 | €13,633 | €12,913 | -€720 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €62,119 | €73,323 | +€11,204 | +18.0% |
| Income taxes | 67/77 | €5,894 | €15,655 | +€9,760 | +166% |
| Profit (loss) for the period | 9904 | €56,225 | €57,668 | +€1,444 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €56,225 | €57,668 | +€1,444 | +2.6% |
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 19 October 2026 via checked.be.