CARDEY PROJECTS: 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 PROJECTS
Largest movements
- Receivables within one year +€2,831
up €2,831 (+17.2%), from €16,477 to €19,308
of which Other amounts receivable: +€2,116
- Tangible fixed assets -€2,260
down €2,260 (-25.2%), from €8,966 to €6,706
- Cash -€1,918
down €1,918 (-84.4%), from €2,273 to €355
mainly Trade debts (-€4,681) and Receivables within one year (-€2,831)
- Stocks and contracts +€365
up €365 (+25.0%), from €1,460 to €1,825
- Trade debts -€4,681
down €4,681 (-38.9%), from €12,026 to €7,344
- Profit (loss) carried forward +€3,994
up €3,994 (+34.1%), from €11,706 to €15,700
- Other debts -€558
down €558 (-91.6%), from €609 to €51
- Gross operating margin +€751
up €751 (+10.1%), from €7,453 to €8,204
- Taxes +€389
up €389 (+36.1%), from €1,076 to €1,465
- Financial charges -€322
down €322 (-59.1%), from €544 to €223
- Financial income -€244
down €244 (-50.8%), from €480 to €236
- Other operating charges -€97
down €97 (-16.3%), from €596 to €499
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 | €29,175 | €28,194 | -€981 | -3.4% |
| Fixed assets | 21/28 | €8,966 | €6,706 | -€2,260 | -25.2% |
| Tangible fixed assets | 22/27 | €8,966 | €6,706 | -€2,260 | -25.2% |
| Furniture and vehicles | 24 | €8,966 | €6,706 | -€2,260 | -25.2% |
| Current assets | 29/58 | €20,210 | €21,489 | +€1,279 | +6.3% |
| Stocks and contracts in progress | 3 | €1,460 | €1,825 | +€365 | +25.0% |
| Stocks | 30/36 | €1,460 | €1,825 | +€365 | +25.0% |
| Amounts receivable within one year | 40/41 | €16,477 | €19,308 | +€2,831 | +17.2% |
| Trade receivables | 40 | €16,387 | €17,103 | +€716 | +4.4% |
| Other amounts receivable | 41 | €90 | €2,206 | +€2,116 | +2,351% |
| Cash at bank and in hand | 54/58 | €2,273 | €355 | -€1,918 | -84.4% |
| Total equity and liabilities | 10/49 | €29,175 | €28,194 | -€981 | -3.4% |
| Equity | 10/15 | €14,206 | €18,200 | +€3,994 | +28.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,706 | €15,700 | +€3,994 | +34.1% |
| Amounts payable | 17/49 | €14,969 | €9,994 | -€4,975 | -33.2% |
| Amounts payable within one year | 42/48 | €14,969 | €9,994 | -€4,975 | -33.2% |
| Trade debts | 44 | €12,026 | €7,344 | -€4,681 | -38.9% |
| Suppliers | 440/4 | €12,026 | €7,344 | -€4,681 | -38.9% |
| Taxes, remuneration and social security | 45 | €2,335 | €2,598 | +€263 | +11.3% |
| Taxes | 450/3 | €2,335 | €2,598 | +€263 | +11.3% |
| Other amounts payable | 47/48 | €609 | €51 | -€558 | -91.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,260 | €2,260 | = | 0.0% |
| Other operating charges | 640/8 | €596 | €499 | -€97 | -16.3% |
| Gross operating margin | 9900 | €7,453 | €8,204 | +€751 | +10.1% |
| Operating profit (loss) | 9901 | €4,597 | €5,445 | +€848 | +18.4% |
| Financial income | 75/76B | €480 | €236 | -€244 | -50.8% |
| Recurring financial income | 75 | €480 | €236 | -€244 | -50.8% |
| Financial charges | 65/66B | €544 | €223 | -€322 | -59.1% |
| Recurring financial charges | 65 | €544 | €223 | -€322 | -59.1% |
| Profit (loss) for the period before taxes | 9903 | €4,533 | €5,459 | +€926 | +20.4% |
| Income taxes | 67/77 | €1,076 | €1,465 | +€389 | +36.1% |
| Profit (loss) for the period | 9904 | €3,457 | €3,994 | +€537 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,457 | €3,994 | +€537 | +15.5% |
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 13 October 2026 via checked.be.