CARDIC: 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.
CARDIC
Largest movements
- Receivables within one year -€65,273
down €65,273 (-63.8%), from €102,337 to €37,064
- Cash -€59,201
down €59,201 (-8.7%), from €679,472 to €620,270
mainly Contributions, distributions and other (-€288,353) and Investment in fixed assets (net) (-€2,169)
- Current investments -€50,000
down €50,000 (-45.5%), from €110,000 to €60,000
- Reserves -€187,403
down €187,403 (-19.8%), from €948,846 to €761,443
- Gross operating margin +€14,294
up €14,294 (+10.7%), from €134,003 to €148,297
- Depreciation +€4,539
up €4,539 (+173.4%), from €2,617 to €7,156
- Taxes +€4,389
up €4,389 (+11.5%), from €38,170 to €42,559
- Financial income +€1,651
up €1,651 (+73.3%), from €2,254 to €3,905
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 | €969,497 | €790,890 | -€178,606 | -18.4% |
| Fixed assets | 21/28 | €48,700 | €43,713 | -€4,987 | -10.2% |
| Tangible fixed assets | 22/27 | €48,700 | €43,713 | -€4,987 | -10.2% |
| Land and buildings | 22 | €44,698 | €39,839 | -€4,859 | -10.9% |
| Furniture and vehicles | 24 | €4,001 | €3,873 | -€128 | -3.2% |
| Current assets | 29/58 | €920,797 | €747,178 | -€173,619 | -18.9% |
| Amounts receivable within one year | 40/41 | €102,337 | €37,064 | -€65,273 | -63.8% |
| Other amounts receivable | 41 | €102,337 | €37,064 | -€65,273 | -63.8% |
| Current investments | 50/53 | €110,000 | €60,000 | -€50,000 | -45.5% |
| Cash at bank and in hand | 54/58 | €679,472 | €620,270 | -€59,201 | -8.7% |
| Deferred charges and accrued income | 490/1 | €28,988 | €29,843 | +€855 | +3.0% |
| Total equity and liabilities | 10/49 | €969,497 | €790,890 | -€178,606 | -18.4% |
| Equity | 10/15 | €961,246 | €773,843 | -€187,403 | -19.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €948,846 | €761,443 | -€187,403 | -19.8% |
| Distributable reserves | 133 | €948,846 | €761,443 | -€187,403 | -19.8% |
| Amounts payable | 17/49 | €8,251 | €17,048 | +€8,797 | +106.6% |
| Amounts payable within one year | 42/48 | €8,251 | €16,838 | +€8,587 | +104.1% |
| Trade debts | 44 | €64 | €187 | +€123 | +192.1% |
| Suppliers | 440/4 | €64 | €187 | +€123 | +192.1% |
| Taxes, remuneration and social security | 45 | €8,013 | €14,401 | +€6,388 | +79.7% |
| Taxes | 450/3 | €8,013 | €14,401 | +€6,388 | +79.7% |
| Other amounts payable | 47/48 | €174 | €2,250 | +€2,076 | +1195.2% |
| Accrued charges and deferred income | 492/3 | - | €210 | +€210 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,617 | €7,156 | +€4,539 | +173.4% |
| Other operating charges | 640/8 | €1,603 | €1,443 | -€160 | -10.0% |
| Gross operating margin | 9900 | €134,003 | €148,297 | +€14,294 | +10.7% |
| Operating profit (loss) | 9901 | €129,782 | €139,697 | +€9,915 | +7.6% |
| Financial income | 75/76B | €2,254 | €3,905 | +€1,651 | +73.3% |
| Recurring financial income | 75 | €2,254 | €3,905 | +€1,651 | +73.3% |
| Financial charges | 65/66B | €228 | €93 | -€136 | -59.4% |
| Recurring financial charges | 65 | €228 | €93 | -€136 | -59.4% |
| Profit (loss) for the period before taxes | 9903 | €131,808 | €143,509 | +€11,702 | +8.9% |
| Income taxes | 67/77 | €38,170 | €42,559 | +€4,389 | +11.5% |
| Profit (loss) for the period | 9904 | €93,638 | €100,950 | +€7,313 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €93,638 | €100,950 | +€7,313 | +7.8% |
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 8 October 2026 via checked.be.