CARDALIS: what changed
Two fiscal 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.
CARDALIS
Largest movements
- Tangible fixed assets +€33,886
up €33,886 (+6.7%), from €503,905 to €537,791
of which Land and buildings: +€29,966
- Other debts +€43,382
up €43,382 (+7.9%), from €548,656 to €592,038
- Profit (loss) carried forward -€20,593
down €20,593 (-28.7%), from -€71,774 to -€92,367
- Gross operating margin +€12,101
up €12,101 (+48.2%), from €25,126 to €37,227
- Financial charges -€3,911
down €3,911 (-11.1%), from €35,263 to €31,351
- Depreciation +€3,019
up €3,019 (+14.5%), from €20,767 to €23,786
- Other operating charges -€942
down €942 (-26.1%), from €3,616 to €2,673
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 | €1,215,721 | €1,240,712 | +€24,991 | +2.1% |
| Fixed assets | 21/28 | €1,203,905 | €1,237,791 | +€33,886 | +2.8% |
| Tangible fixed assets | 22/27 | €503,905 | €537,791 | +€33,886 | +6.7% |
| Land and buildings | 22 | €499,438 | €529,404 | +€29,966 | +6.0% |
| Plant, machinery and equipment | 23 | €4,468 | €8,387 | +€3,920 | +87.7% |
| Financial fixed assets | 28 | €700,000 | €700,000 | = | 0.0% |
| Current assets | 29/58 | €11,816 | €2,921 | -€8,895 | -75.3% |
| Cash at bank and in hand | 54/58 | €7,699 | €341 | -€7,358 | -95.6% |
| Deferred charges and accrued income | 490/1 | €4,117 | €2,580 | -€1,537 | -37.3% |
| Total equity and liabilities | 10/49 | €1,215,721 | €1,240,712 | +€24,991 | +2.1% |
| Equity | 10/15 | -€66,774 | -€87,367 | -€20,593 | -30.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,774 | -€92,367 | -€20,593 | -28.7% |
| Amounts payable | 17/49 | €1,282,495 | €1,328,079 | +€45,584 | +3.6% |
| Amounts payable after more than one year | 17 | €670,132 | €660,055 | -€10,077 | -1.5% |
| Financial debts | 170/4 | €670,132 | €660,055 | -€10,077 | -1.5% |
| Amounts payable within one year | 42/48 | €605,115 | €660,670 | +€55,555 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €56,459 | €58,901 | +€2,442 | +4.3% |
| Trade debts | 44 | - | €9,731 | +€9,731 | |
| Suppliers | 440/4 | - | €9,731 | +€9,731 | |
| Other amounts payable | 47/48 | €548,656 | €592,038 | +€43,382 | +7.9% |
| Accrued charges and deferred income | 492/3 | €7,248 | €7,354 | +€106 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,767 | €23,786 | +€3,019 | +14.5% |
| Other operating charges | 640/8 | €3,616 | €2,673 | -€942 | -26.1% |
| Non-recurring operating charges | 66A | - | €9 | +€9 | |
| Gross operating margin | 9900 | €25,126 | €37,227 | +€12,101 | +48.2% |
| Operating profit (loss) | 9901 | €744 | €10,758 | +€10,015 | +1346.9% |
| Financial charges | 65/66B | €35,263 | €31,351 | -€3,911 | -11.1% |
| Recurring financial charges | 65 | €35,263 | €31,351 | -€3,911 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | -€34,519 | -€20,593 | +€13,926 | +40.3% |
| Profit (loss) for the period | 9904 | -€34,519 | -€20,593 | +€13,926 | +40.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,519 | -€20,593 | +€13,926 | +40.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.