Canardo: 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.
Canardo
Largest movements
- Cash -€33,741
down €33,741 (-29.2%), from €115,594 to €81,853
mainly Contributions, distributions and other (-€58,000) and Debts after one year (-€6,560)
- Receivables within one year -€6,652
down €6,652 (-24.7%), from €26,975 to €20,323
of which Other amounts receivable: -€4,087
- Tangible fixed assets -€4,978
down €4,978 (-26.8%), from €18,585 to €13,607
of which Plant, machinery and equipment: -€3,095
- Profit (loss) carried forward -€59,695
down €59,695 (-95.7%), from €62,408 to €2,712
- Other debts +€23,525
up €23,525 (+22.6%), from €103,943 to €127,468
- Debts after one year -€6,560
down €6,560 (-49.5%), from €13,252 to €6,692
- Advances received +€6,480
new in 2025: €6,480
- Accrued charges and deferred income -€6,274
down €6,274 (-96.4%), from €6,507 to €233
- Gross operating margin -€83,804
down €83,804 (-91.7%), from €91,382 to €7,578
- Taxes -€14,686
down €14,686 (-98.5%), from €14,908 to €222
- Depreciation -€8,983
down €8,983 (-55.2%), from €16,270 to €7,287
- Other operating charges -€5,971
down €5,971 (-96.2%), from €6,209 to €238
- Financial income -€4,596
down €4,596 (-100.0%), from €4,596 to €0
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.
Cash bridge derived
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 | €218,551 | €173,355 | -€45,197 | -20.7% |
| Fixed assets | 21/28 | €19,045 | €14,067 | -€4,978 | -26.1% |
| Tangible fixed assets | 22/27 | €18,585 | €13,607 | -€4,978 | -26.8% |
| Plant, machinery and equipment | 23 | €11,509 | €8,414 | -€3,095 | -26.9% |
| Furniture and vehicles | 24 | €7,076 | €5,192 | -€1,883 | -26.6% |
| Financial fixed assets | 28 | €460 | €460 | = | 0.0% |
| Current assets | 29/58 | €199,507 | €159,288 | -€40,219 | -20.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €26,975 | €20,323 | -€6,652 | -24.7% |
| Trade receivables | 40 | €21,883 | €19,318 | -€2,565 | -11.7% |
| Other amounts receivable | 41 | €5,092 | €1,005 | -€4,087 | -80.3% |
| Current investments | 50/53 | €50,648 | €50,648 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €115,594 | €81,853 | -€33,741 | -29.2% |
| Deferred charges and accrued income | 490/1 | €6,290 | €6,464 | +€174 | +2.8% |
| Total equity and liabilities | 10/49 | €218,551 | €173,355 | -€45,197 | -20.7% |
| Equity | 10/15 | €82,868 | €23,172 | -€59,695 | -72.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,408 | €2,712 | -€59,695 | -95.7% |
| Amounts payable | 17/49 | €135,684 | €150,183 | +€14,499 | +10.7% |
| Amounts payable after more than one year | 17 | €13,252 | €6,692 | -€6,560 | -49.5% |
| Financial debts | 170/4 | €13,252 | €6,692 | -€6,560 | -49.5% |
| Amounts payable within one year | 42/48 | €115,925 | €143,258 | +€27,333 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €2,600 | €0 | -€2,600 | -100.0% |
| Trade debts | 44 | €5,149 | €9,088 | +€3,939 | +76.5% |
| Suppliers | 440/4 | €5,149 | €9,088 | +€3,939 | +76.5% |
| Advances received on contracts in progress | 46 | - | €6,480 | +€6,480 | |
| Taxes, remuneration and social security | 45 | €4,232 | €222 | -€4,010 | -94.8% |
| Taxes | 450/3 | €4,232 | €222 | -€4,010 | -94.8% |
| Other amounts payable | 47/48 | €103,943 | €127,468 | +€23,525 | +22.6% |
| Accrued charges and deferred income | 492/3 | €6,507 | €233 | -€6,274 | -96.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,270 | €7,287 | -€8,983 | -55.2% |
| Other operating charges | 640/8 | €6,209 | €238 | -€5,971 | -96.2% |
| Gross operating margin | 9900 | €91,382 | €7,578 | -€83,804 | -91.7% |
| Operating profit (loss) | 9901 | €68,903 | €52 | -€68,851 | -99.9% |
| Financial income | 75/76B | €4,596 | €0 | -€4,596 | -100.0% |
| Recurring financial income | 75 | €4,596 | €0 | -€4,596 | -100.0% |
| Financial charges | 65/66B | €713 | €1,526 | +€813 | +114.1% |
| Recurring financial charges | 65 | €713 | €1,526 | +€813 | +114.1% |
| Profit (loss) for the period before taxes | 9903 | €72,787 | -€1,473 | -€74,260 | |
| Income taxes | 67/77 | €14,908 | €222 | -€14,686 | -98.5% |
| Profit (loss) for the period | 9904 | €57,879 | -€1,695 | -€59,574 | |
| Profit (loss) for the period to be appropriated | 9905 | €57,879 | -€1,695 | -€59,574 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.