CARDA IMMO: 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.
CARDA IMMO
Largest movements
- Tangible fixed assets -€198,435
down €198,435 (-7.1%), from €2.8m to €2.6m
of which Land and buildings: -€205,926
- Cash +€161,467
up €161,467 (+49.7%), from €324,978 to €486,446
mainly Depreciation (+€217,718) and Receivables after one year (+€90,000)
- Receivables after one year -€90,000
down €90,000 (-8.4%), from €1.1m to €980,000
- Receivables within one year -€86,779
down €86,779 (-34.9%), from €248,931 to €162,152
of which Other amounts receivable: -€89,293
- Debts after one year -€136,980
down €136,980 (-16.6%), from €825,076 to €688,096
- Other debts -€67,140
down €67,140 (-100%), from €67,140 to €0
- Gross operating margin +€41,137
up €41,137 (+15.0%), from €274,664 to €315,802
- Taxes +€17,277
up €17,277 (+32.7%), from €52,812 to €70,088
- Other operating charges -€10,810
down €10,810 (-17.8%), from €60,621 to €49,811
- Financial charges -€7,413
down €7,413 (-31.5%), from €23,569 to €16,156
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 | €4,465,750 | €4,251,156 | -€214,594 | -4.8% |
| Fixed assets | 21/28 | €2,791,188 | €2,592,753 | -€198,435 | -7.1% |
| Tangible fixed assets | 22/27 | €2,791,188 | €2,592,753 | -€198,435 | -7.1% |
| Land and buildings | 22 | €2,780,561 | €2,574,635 | -€205,926 | -7.4% |
| Plant, machinery and equipment | 23 | - | €17,946 | +€17,946 | |
| Furniture and vehicles | 24 | €10,628 | €172 | -€10,456 | -98.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,674,562 | €1,658,403 | -€16,159 | -1.0% |
| Amounts receivable after more than one year | 29 | €1,070,000 | €980,000 | -€90,000 | -8.4% |
| Other amounts receivable | 291 | €1,070,000 | €980,000 | -€90,000 | -8.4% |
| Amounts receivable within one year | 40/41 | €248,931 | €162,152 | -€86,779 | -34.9% |
| Trade receivables | 40 | €9,416 | €11,931 | +€2,515 | +26.7% |
| Other amounts receivable | 41 | €239,515 | €150,222 | -€89,293 | -37.3% |
| Cash at bank and in hand | 54/58 | €324,978 | €486,446 | +€161,467 | +49.7% |
| Deferred charges and accrued income | 490/1 | €30,653 | €29,805 | -€847 | -2.8% |
| Total equity and liabilities | 10/49 | €4,465,750 | €4,251,156 | -€214,594 | -4.8% |
| Equity | 10/15 | €2,986,958 | €3,014,675 | +€27,718 | +0.9% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €2,862,958 | €2,890,675 | +€27,718 | +1.0% |
| Tax-exempt reserves | 132 | €1,238,354 | €1,114,787 | -€123,568 | -10.0% |
| Distributable reserves | 133 | €1,624,603 | €1,775,888 | +€151,285 | +9.3% |
| Provisions and deferred taxes | 16 | €411,618 | €370,429 | -€41,189 | -10.0% |
| Deferred taxes | 168 | €411,618 | €370,429 | -€41,189 | -10.0% |
| Amounts payable | 17/49 | €1,067,175 | €866,052 | -€201,122 | -18.8% |
| Amounts payable after more than one year | 17 | €825,076 | €688,096 | -€136,980 | -16.6% |
| Financial debts | 170/4 | €825,076 | €688,096 | -€136,980 | -16.6% |
| Amounts payable within one year | 42/48 | €236,567 | €177,956 | -€58,610 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €135,188 | €136,980 | +€1,793 | +1.3% |
| Financial debts | 43 | €20,278 | €33,333 | +€13,055 | +64.4% |
| Credit institutions | 430/8 | €20,278 | €33,333 | +€13,055 | +64.4% |
| Trade debts | 44 | €7,149 | €7,643 | +€494 | +6.9% |
| Suppliers | 440/4 | €7,149 | €7,643 | +€494 | +6.9% |
| Taxes, remuneration and social security | 45 | €6,812 | €0 | -€6,812 | -100% |
| Taxes | 450/3 | €6,812 | €0 | -€6,812 | -100% |
| Other amounts payable | 47/48 | €67,140 | €0 | -€67,140 | -100% |
| Accrued charges and deferred income | 492/3 | €5,532 | €0 | -€5,532 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €214,583 | €217,718 | +€3,136 | +1.5% |
| Other operating charges | 640/8 | €60,621 | €49,811 | -€10,810 | -17.8% |
| Gross operating margin | 9900 | €274,664 | €315,802 | +€41,137 | +15.0% |
| Operating profit (loss) | 9901 | -€539 | €48,272 | +€48,811 | |
| Financial income | 75/76B | €27,233 | €24,501 | -€2,733 | -10.0% |
| Recurring financial income | 75 | €27,233 | €24,501 | -€2,733 | -10.0% |
| Financial charges | 65/66B | €23,569 | €16,156 | -€7,413 | -31.5% |
| Recurring financial charges | 65 | €23,569 | €16,156 | -€7,413 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €3,125 | €56,617 | +€53,492 | +1,712% |
| Transfer from deferred taxes | 780 | €41,189 | €41,189 | = | 0.0% |
| Income taxes | 67/77 | €52,812 | €70,088 | +€17,277 | +32.7% |
| Profit (loss) for the period | 9904 | -€8,497 | €27,718 | +€36,215 | |
| Transfer from tax-exempt reserves | 789 | €123,568 | €123,568 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €115,070 | €151,285 | +€36,215 | +31.5% |
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 16 October 2026 via checked.be.