CARDIO PS
ActiveSummary
CARDIO PS has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €595,522 and a net result of €192,842. Equity is growing by ~40.9% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity ample (current ratio 6.84 against 3.19 in 2024; short-term debt: 10.8% and cash: 28.6% of total assets), and 20% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
80%
Return on assets
25.9%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
14 d late
2023
23 d early
2022
68 d early
2021
29 d late
2020
33 d early
2019
80 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 1 day before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 28 July (4 of the last 5 filed years within 32 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€192,842▲ 33.5%
2024 · €144,401
Working capital
€470,033▲ 44.8%
2024 · €324,522
Trend over the years
In euros
In euros
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€155,525▲ 5.6%€210,125▲ 35.1%€463,504▲ 121%€192,685▼ 58.4%€280,034▲ 45.3%
Net result€115,510▲ 5.6%€152,916▲ 32.4%€326,502▲ 114%€144,401▼ 55.8%€192,842▲ 33.5%
Equity€151,166▲ 26.0%€222,082▲ 46.9%€433,584▲ 95.2%€441,335▲ 1.8%€595,522▲ 34.9%
Total assets€280,832▲ 6.4%€343,827▲ 22.4%€583,394▲ 69.7%€589,713▲ 1.1%€744,221▲ 26.2%
Debt€129,666▼ 10.0%€121,746▼ 6.1%€149,811▲ 23.1%€148,378▼ 1.0%€148,699▲ 0.2%
Working capital€51,450▲ 102%€117,647▲ 129%€307,289▲ 161%€324,522▲ 5.6%€470,033▲ 44.8%
Staff (FTE)0
Why a figure moved sharply
- 2024 Net result -56% on 2023. The accounts now follow the full schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 45% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €744,221
Fixed assets
€193,715 ▲ 65.8%
Current assets
€550,506 ▲ 16.4%
Equity and liabilities €744,221
Equity
€595,522 ▲ 34.9%
Debt
€148,699 ▲ 0.2%
Debt's share of the balance-sheet total falls from 25.2% to 20.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€296,451▲
2024 · €202,166
Cash flow
€209,260▲
2024 · €153,883
Current ratio
6.84▲
2024 · 3.19
Quick ratio
6.84▲
2024 · 3.19
Debt to equity
0.25▼
2024 · 0.34
ROE
32.4%▼
2024 · 32.7%
ROA
25.9%▲
2024 · 24.5%
Interest coverage
152.05▲
2024 · 111.60
Debt ≤ 1 year
€80,473▼
2024 · €148,378
Debt > 1 year
€68,225
Income taxes
€85,947▲
2024 · €48,474
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,134 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €91 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,657 | €6,690 | €9,069 | €9,481 | €16,418 | ▲ 73.2% |
| Other operating charges640/8 | €6,340 | €4,228 | €2,301 | €2,343 | €4,203 | ▲ 79.4% |
| Non-recurring operating charges66A | - | €16 | €10 | €1,036 | €0 | ▼ 100% |
| Gross operating margin9900 | €168,522 | €221,059 | €474,883 | €205,544 | €300,654 | ▲ 46.3% |
| Operating profit (loss)9901 | €155,525 | €210,125 | €463,504 | €192,685 | €280,034 | ▲ 45.3% |
| Financial income75/76B | - | €18 | - | €2,002 | €705 | ▼ 64.8% |
| Recurring financial income75 | - | €18 | - | €2,002 | €705 | ▼ 64.8% |
| Financial charges65/66B | €2,453 | €2,655 | €2,677 | €1,812 | €1,950 | ▲ 7.6% |
| Recurring financial charges65 | €2,453 | €2,655 | €2,677 | €1,812 | €1,950 | ▲ 7.6% |
| Profit (loss) for the period before taxes9903 | €153,072 | €207,489 | €460,827 | €192,875 | €278,789 | ▲ 44.5% |
| Income taxes67/77 | €37,563 | €54,573 | €134,325 | €48,474 | €85,947 | ▲ 77.3% |
| Profit (loss) for the period9904 | €115,510 | €152,916 | €326,502 | €144,401 | €192,842 | ▲ 33.5% |
| Profit (loss) for the period to be appropriated9905 | €115,510 | €152,916 | €326,502 | €144,401 | €192,842 | ▲ 33.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €280,832 | €343,827 | €583,394 | €589,713 | €744,221 | ▲ 26.2% |
| Fixed assets21/28 | €121,133 | €114,823 | €126,294 | €116,813 | €193,715 | ▲ 65.8% |
| Tangible fixed assets22/27 | €121,133 | €114,823 | €126,294 | €116,813 | €193,715 | ▲ 65.8% |
| Land and buildings22 | €113,787 | €109,262 | €104,736 | €100,211 | €95,685 | ▼ 4.5% |
| Plant, machinery and equipment23 | €964 | €758 | €552 | €347 | €141 | ▼ 59.4% |
| Furniture and vehicles24 | €2,093 | €1,464 | €11,571 | €8,171 | €4,994 | ▼ 38.9% |
| Leasing and similar rights25 | - | - | - | - | €86,160 | - |
| Other tangible fixed assets26 | €4,289 | €3,339 | €9,435 | €8,085 | €6,734 | ▼ 16.7% |
| Current assets29/58 | €159,699 | €229,005 | €457,100 | €472,900 | €550,506 | ▲ 16.4% |
| Stocks and contracts in progress3 | - | - | - | €300 | €300 | = |
| Stocks30/36 | - | - | - | €300 | €300 | = |
| Amounts receivable within one year40/41 | €10,557 | €11,985 | €189,780 | €199,930 | €236,259 | ▲ 18.2% |
| Trade receivables40 | - | - | €156,813 | €128,880 | €214,067 | ▲ 66.1% |
| Other amounts receivable41 | €10,557 | €11,985 | €32,967 | €71,050 | €22,192 | ▼ 68.8% |
| Current investments50/53 | €26,048 | €26,384 | €69,812 | €88,843 | €96,080 | ▲ 8.1% |
| Cash at bank and in hand54/58 | €115,016 | €185,483 | €193,648 | €179,966 | €212,661 | ▲ 18.2% |
| Deferred charges and accrued income490/1 | €8,078 | €5,154 | €3,860 | €3,861 | €5,206 | ▲ 34.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €280,832 | €343,827 | €583,394 | €589,713 | €744,221 | ▲ 26.2% |
| Equity10/15 | €151,166 | €222,082 | €433,584 | €441,335 | €595,522 | ▲ 34.9% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €138,755 | €208,755 | €420,255 | €428,935 | €583,122 | ▲ 35.9% |
| Distributable reserves133 | €138,755 | €208,755 | €420,255 | €428,935 | €583,122 | ▲ 35.9% |
| Profit (loss) carried forward14 | €11 | €927 | €929 | - | €0 | - |
| Amounts payable17/49 | €129,666 | €121,746 | €149,811 | €148,378 | €148,699 | ▲ 0.2% |
| Amounts payable after more than one year17 | €21,418 | €10,388 | - | - | €68,225 | - |
| Financial debts170/4 | €21,418 | €10,388 | - | - | €68,225 | - |
| Amounts payable within one year42/48 | €108,249 | €111,358 | €149,811 | €148,378 | €80,473 | ▼ 45.8% |
| Current portion of amounts payable after more than one year42 | €10,723 | €11,030 | €10,388 | - | €16,354 | - |
| Financial debts43 | €969 | - | €130 | - | - | - |
| Other loans439 | €969 | - | €130 | - | - | - |
| Trade debts44 | €1,285 | €234 | €313 | €3,175 | €2,244 | ▼ 29.3% |
| Suppliers440/4 | €1,285 | €234 | €313 | €3,175 | €2,244 | ▼ 29.3% |
| Taxes, remuneration and social security45 | €9,452 | €12,819 | €23,980 | €8,553 | €39,786 | ▲ 365% |
| Taxes450/3 | €9,452 | €12,819 | €23,980 | €8,553 | €39,786 | ▲ 365% |
| Other amounts payable47/48 | €85,821 | €87,276 | €115,000 | €136,650 | €22,090 | ▼ 83.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €115,510 | €152,916 | €326,502 | €144,401 | €192,842 | ▲ 33.5% |
| + Depreciation and write-downs630 | €6,657 | €6,690 | €9,069 | €9,481 | €16,418 | ▲ 73.2% |
| Operating cash flow (approximation) | €122,167 | €159,605 | €335,571 | €153,883 | €209,260 | ▲ 36.0% |
| Investment in fixed assets (approximation) | - | -€379 | -€20,541 | €0 | -€93,319 | - |
| Change in cash | - | €70,467 | €8,166 | -€13,682 | €32,695 | ▲ 339% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity doublescurrent ratio 6.84
Current ratio from 3.19 to 6.84; short-term debt falls from €148,378 to €80,473.
31-12
Financial
Equity above €500,000Eq €595,522 ▲34.9%
8 profitable years in a row build equity to €595,522.
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 14 days late
2024
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €326,502 ▲114%
Operating result €463,504, net result €326,502, both a record.
24-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200,000Eq €222,082 ▲46.9%
5 profitable years in a row build equity to €222,082.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Equity above €150,000Eq €151,166 ▲26%
4 profitable years in a row build equity to €151,166.
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €109,386 ▼7.8%
Net result drops to €109,386, the lowest in the series; recovery starts the following year.
Show earlier events
31-12
Financial
Equity above €100,000Eq €119,956 ▲33.9%
3 profitable years in a row build equity to €119,956.
19-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 80 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Namur
Ground area
1,937 m²
Building footprint
124 m²
Volume, LiDAR
966 m³
Parcel 92009A0140/00P000, Wallonia · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92009A0140/00P000 | Wallonia | 1,937 m² | 1 · 124 m² | 10.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded13-02-2003
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0479541472
Also
9925:BE0479541472
Registered
04-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.