CARDAVI: 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.
CARDAVI
Largest movements
- Current investments -€132,000
down €132,000 (-6.5%), from €2.0m to €1.9m
- Cash +€114,139
up €114,139 (+51.3%), from €222,310 to €336,450
mainly Current investments (+€132,000) and Net result for the year (+€129,515)
- Reserves -€65,560
down €65,560 (-5.5%), from €1.2m to €1.1m
- Depreciation +€4,397
up €4,397 (+215.3%), from €2,042 to €6,439
- Taxes -€3,583
down €3,583 (-5.6%), from €64,079 to €60,497
- Gross operating margin -€2,235
down €2,235 (-7.6%), from -€29,252 to -€31,487
- Financial income -€1,736
down €1,736 (-0.7%), from €232,252 to €230,516
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 | €5,105,299 | €5,045,182 | -€60,117 | -1.2% |
| Fixed assets | 21/28 | €28,346 | €21,906 | -€6,439 | -22.7% |
| Tangible fixed assets | 22/27 | €28,346 | €21,906 | -€6,439 | -22.7% |
| Plant, machinery and equipment | 23 | €580 | €0 | -€580 | -100.0% |
| Furniture and vehicles | 24 | €27,766 | €21,906 | -€5,860 | -21.1% |
| Current assets | 29/58 | €5,076,954 | €5,023,276 | -€53,677 | -1.1% |
| Amounts receivable after more than one year | 29 | €2,774,806 | €2,774,806 | = | 0.0% |
| Other amounts receivable | 291 | €2,774,806 | €2,774,806 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,490 | €8,627 | -€30,863 | -78.2% |
| Other amounts receivable | 41 | €39,490 | €8,627 | -€30,863 | -78.2% |
| Current investments | 50/53 | €2,032,000 | €1,900,000 | -€132,000 | -6.5% |
| Cash at bank and in hand | 54/58 | €222,310 | €336,450 | +€114,139 | +51.3% |
| Deferred charges and accrued income | 490/1 | €8,347 | €3,394 | -€4,954 | -59.3% |
| Total equity and liabilities | 10/49 | €5,105,299 | €5,045,182 | -€60,117 | -1.2% |
| Equity | 10/15 | €5,087,199 | €5,021,639 | -€65,560 | -1.3% |
| Contributions | 10/11 | €3,904,620 | €3,904,620 | = | 0.0% |
| Reserves | 13 | €1,182,579 | €1,117,019 | -€65,560 | -5.5% |
| Distributable reserves | 133 | €1,182,579 | €1,117,019 | -€65,560 | -5.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €18,100 | €23,543 | +€5,443 | +30.1% |
| Amounts payable within one year | 42/48 | €18,100 | €23,543 | +€5,443 | +30.1% |
| Trade debts | 44 | €778 | €96 | -€681 | -87.6% |
| Suppliers | 440/4 | €778 | €96 | -€681 | -87.6% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €17,323 | €23,447 | +€6,124 | +35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,042 | €6,439 | +€4,397 | +215.3% |
| Other operating charges | 640/8 | €2,112 | €2,349 | +€237 | +11.2% |
| Gross operating margin | 9900 | -€29,252 | -€31,487 | -€2,235 | -7.6% |
| Operating profit (loss) | 9901 | -€33,407 | -€40,276 | -€6,869 | -20.6% |
| Financial income | 75/76B | €232,252 | €230,516 | -€1,736 | -0.7% |
| Recurring financial income | 75 | €232,252 | €230,516 | -€1,736 | -0.7% |
| Financial charges | 65/66B | €199 | €228 | +€29 | +14.4% |
| Recurring financial charges | 65 | €199 | €228 | +€29 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €198,646 | €190,012 | -€8,634 | -4.3% |
| Income taxes | 67/77 | €64,079 | €60,497 | -€3,583 | -5.6% |
| Profit (loss) for the period | 9904 | €134,566 | €129,515 | -€5,051 | -3.8% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €134,566 | €129,515 | -€5,051 | -3.8% |
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 10 October 2026 via checked.be.