CARDANO: 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.
CARDANO
Largest movements
- Receivables within one year +€34,093
up €34,093 (+21.1%), from €161,220 to €195,313
of which Other amounts receivable: +€35,712
- Tangible fixed assets -€13,610
down €13,610 (-10.7%), from €127,591 to €113,981
of which Furniture and vehicles: -€10,000
- Reserves +€50,021
up €50,021 (+53.2%), from €94,097 to €144,119
of which Distributable reserves: +€50,021
- Tax, wage and social debts -€13,838
down €13,838 (-30.2%), from €45,862 to €32,025
- Other debts -€8,555
down €8,555 (-22.2%), from €38,501 to €29,946
- Taxes -€15,716
down €15,716 (-56.8%), from €27,692 to €11,976
- Write-downs -€14,264
down €14,264 (-100%), from €14,264 to €0
- Gross operating margin +€6,474
up €6,474 (+7.7%), from €83,601 to €90,075
- Financial charges -€3,520
down €3,520 (-18.5%), from €19,075 to €15,556
- Other operating charges -€1,110
down €1,110 (-18.1%), from €6,139 to €5,029
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 | €549,180 | €569,676 | +€20,496 | +3.7% |
| Fixed assets | 21/28 | €127,591 | €113,981 | -€13,610 | -10.7% |
| Tangible fixed assets | 22/27 | €127,591 | €113,981 | -€13,610 | -10.7% |
| Land and buildings | 22 | €114,660 | €110,256 | -€4,404 | -3.8% |
| Plant, machinery and equipment | 23 | €0 | €793 | +€793 | |
| Furniture and vehicles | 24 | €12,931 | €2,931 | -€10,000 | -77.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €421,589 | €455,695 | +€34,107 | +8.1% |
| Amounts receivable after more than one year | 29 | €260,000 | €260,000 | = | 0.0% |
| Other amounts receivable | 291 | €260,000 | €260,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €161,220 | €195,313 | +€34,093 | +21.1% |
| Trade receivables | 40 | €23,116 | €21,497 | -€1,619 | -7.0% |
| Other amounts receivable | 41 | €138,104 | €173,816 | +€35,712 | +25.9% |
| Cash at bank and in hand | 54/58 | €40 | €44 | +€4 | +10.0% |
| Deferred charges and accrued income | 490/1 | €329 | €338 | +€10 | +2.9% |
| Total equity and liabilities | 10/49 | €549,180 | €569,676 | +€20,496 | +3.7% |
| Equity | 10/15 | €189,592 | €239,614 | +€50,021 | +26.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €94,097 | €144,119 | +€50,021 | +53.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €86,088 | €136,109 | +€50,021 | +58.1% |
| Profit (loss) carried forward | 14 | €76,903 | €76,903 | = | 0.0% |
| Amounts payable | 17/49 | €359,587 | €330,062 | -€29,525 | -8.2% |
| Amounts payable after more than one year | 17 | €263,667 | €258,000 | -€5,668 | -2.1% |
| Financial debts | 170/4 | €263,667 | €258,000 | -€5,668 | -2.1% |
| Amounts payable within one year | 42/48 | €95,920 | €72,063 | -€23,857 | -24.9% |
| Current portion of amounts payable after more than one year | 42 | €5,398 | €5,668 | +€269 | +5.0% |
| Trade debts | 44 | €6,159 | €4,425 | -€1,734 | -28.2% |
| Suppliers | 440/4 | €6,159 | €4,425 | -€1,734 | -28.2% |
| Taxes, remuneration and social security | 45 | €45,862 | €32,025 | -€13,838 | -30.2% |
| Taxes | 450/3 | €45,862 | €32,025 | -€13,838 | -30.2% |
| Other amounts payable | 47/48 | €38,501 | €29,946 | -€8,555 | -22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,535 | €14,644 | +€109 | +0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,264 | €0 | -€14,264 | -100% |
| Other operating charges | 640/8 | €6,139 | €5,029 | -€1,110 | -18.1% |
| Gross operating margin | 9900 | €83,601 | €90,075 | +€6,474 | +7.7% |
| Operating profit (loss) | 9901 | €48,663 | €70,402 | +€21,739 | +44.7% |
| Financial income | 75/76B | €7,152 | €7,151 | -€1 | 0.0% |
| Recurring financial income | 75 | €7,152 | €7,151 | -€1 | 0.0% |
| Financial charges | 65/66B | €19,075 | €15,556 | -€3,520 | -18.5% |
| Recurring financial charges | 65 | €19,075 | €15,556 | -€3,520 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €36,740 | €61,998 | +€25,258 | +68.7% |
| Income taxes | 67/77 | €27,692 | €11,976 | -€15,716 | -56.8% |
| Profit (loss) for the period | 9904 | €9,048 | €50,021 | +€40,973 | +453% |
| Profit (loss) for the period to be appropriated | 9905 | €9,048 | €50,021 | +€40,973 | +453% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.