CARDEY: 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.
CARDEY
Largest movements
- Stocks and contracts -€14,211
down €14,211 (-62.6%), from €22,718 to €8,507
of which Stocks: -€19,211
- Cash +€12,416
up €12,416 (+40.4%), from €30,712 to €43,128
mainly Other debts (+€21,424) and Stocks and contracts (+€14,211)
- Receivables within one year -€10,610
down €10,610 (-20.9%), from €50,763 to €40,153
of which Trade receivables: -€18,942
- Tangible fixed assets -€6,051
down €6,051 (-33.3%), from €18,154 to €12,103
- Reserves -€28,364
down €28,364 (-44.8%), from €63,339 to €34,975
- Other debts +€21,424
up €21,424 (+133.2%), from €16,087 to €37,510
- Trade debts -€13,064
down €13,064 (-57.3%), from €22,782 to €9,719
- Tax, wage and social debts +€1,625
up €1,625 (+2927.0%), from €56 to €1,681
of which Remuneration and social security: +€1,585
- Gross operating margin -€20,658
down €20,658 (-50.5%), from €40,928 to €20,270
- Taxes -€7,023
down €7,023 (-63.9%), from €10,989 to €3,966
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 | €123,954 | €105,549 | -€18,405 | -14.8% |
| Fixed assets | 21/28 | €18,154 | €12,103 | -€6,051 | -33.3% |
| Tangible fixed assets | 22/27 | €18,154 | €12,103 | -€6,051 | -33.3% |
| Furniture and vehicles | 24 | €18,154 | €12,103 | -€6,051 | -33.3% |
| Current assets | 29/58 | €105,800 | €93,446 | -€12,353 | -11.7% |
| Stocks and contracts in progress | 3 | €22,718 | €8,507 | -€14,211 | -62.6% |
| Stocks | 30/36 | €22,718 | €3,507 | -€19,211 | -84.6% |
| Contracts in progress | 37 | - | €5,000 | +€5,000 | |
| Amounts receivable within one year | 40/41 | €50,763 | €40,153 | -€10,610 | -20.9% |
| Trade receivables | 40 | €45,994 | €27,052 | -€18,942 | -41.2% |
| Other amounts receivable | 41 | €4,769 | €13,101 | +€8,332 | +174.7% |
| Cash at bank and in hand | 54/58 | €30,712 | €43,128 | +€12,416 | +40.4% |
| Deferred charges and accrued income | 490/1 | €1,606 | €1,659 | +€52 | +3.2% |
| Total equity and liabilities | 10/49 | €123,954 | €105,549 | -€18,405 | -14.8% |
| Equity | 10/15 | €83,339 | €54,975 | -€28,364 | -34.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €63,339 | €34,975 | -€28,364 | -44.8% |
| Distributable reserves | 133 | €63,339 | €34,975 | -€28,364 | -44.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €40,615 | €50,574 | +€9,959 | +24.5% |
| Amounts payable within one year | 42/48 | €39,115 | €49,074 | +€9,959 | +25.5% |
| Financial debts | 43 | €190 | €164 | -€26 | -13.8% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €190 | €164 | -€26 | -13.8% |
| Trade debts | 44 | €22,782 | €9,719 | -€13,064 | -57.3% |
| Suppliers | 440/4 | €22,782 | €9,719 | -€13,064 | -57.3% |
| Taxes, remuneration and social security | 45 | €56 | €1,681 | +€1,625 | +2927.0% |
| Taxes | 450/3 | €56 | €96 | +€41 | +73.0% |
| Remuneration and social security | 454/9 | €0 | €1,585 | +€1,585 | |
| Other amounts payable | 47/48 | €16,087 | €37,510 | +€21,424 | +133.2% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,322 | €6,051 | -€270 | -4.3% |
| Other operating charges | 640/8 | €928 | €1,285 | +€357 | +38.5% |
| Gross operating margin | 9900 | €40,928 | €20,270 | -€20,658 | -50.5% |
| Operating profit (loss) | 9901 | €33,678 | €12,933 | -€20,745 | -61.6% |
| Financial income | 75/76B | €261 | €293 | +€33 | +12.6% |
| Recurring financial income | 75 | €261 | €293 | +€33 | +12.6% |
| Financial charges | 65/66B | €160 | €114 | -€46 | -28.8% |
| Recurring financial charges | 65 | €160 | €114 | -€46 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €33,779 | €13,113 | -€20,666 | -61.2% |
| Income taxes | 67/77 | €10,989 | €3,966 | -€7,023 | -63.9% |
| Profit (loss) for the period | 9904 | €22,790 | €9,147 | -€13,643 | -59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,790 | €9,147 | -€13,643 | -59.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.