CARDIO CONCEPT: 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.
CARDIO CONCEPT
Largest movements
- Receivables after one year -€323,750
no longer reported in 2025 (was €323,750)
- Receivables within one year +€71,604
up €71,604 (+12.3%), from €584,432 to €656,036
of which Other amounts receivable: +€74,587
- Tangible fixed assets -€50,812
down €50,812 (-6.9%), from €733,954 to €683,142
of which Land and buildings: -€27,502
- Cash -€22,688
down €22,688 (-8.3%), from €274,279 to €251,591
mainly Contributions, distributions and other (-€662,499) and Receivables within one year (-€71,604)
- Reserves -€366,599
down €366,599 (-29.2%), from €1.3m to €889,760
of which Distributable reserves: -€366,599
- Tax, wage and social debts +€67,723
up €67,723 (+68.8%), from €98,407 to €166,130
No income-statement line moved by more than 1% of the activity.
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 | €2,044,345 | €1,732,054 | -€312,291 | -15.3% |
| Fixed assets | 21/28 | €827,354 | €776,542 | -€50,812 | -6.1% |
| Tangible fixed assets | 22/27 | €733,954 | €683,142 | -€50,812 | -6.9% |
| Land and buildings | 22 | €642,408 | €614,906 | -€27,502 | -4.3% |
| Plant, machinery and equipment | 23 | €16,723 | €8,723 | -€8,000 | -47.8% |
| Furniture and vehicles | 24 | €69,244 | €54,634 | -€14,610 | -21.1% |
| Other tangible fixed assets | 26 | €5,579 | €4,879 | -€700 | -12.5% |
| Financial fixed assets | 28 | €93,400 | €93,400 | = | 0.0% |
| Current assets | 29/58 | €1,216,991 | €955,512 | -€261,479 | -21.5% |
| Amounts receivable after more than one year | 29 | €323,750 | - | -€323,750 | |
| Other amounts receivable | 291 | €323,750 | - | -€323,750 | |
| Amounts receivable within one year | 40/41 | €584,432 | €656,036 | +€71,604 | +12.3% |
| Trade receivables | 40 | €5,588 | €2,605 | -€2,983 | -53.4% |
| Other amounts receivable | 41 | €578,844 | €653,431 | +€74,587 | +12.9% |
| Cash at bank and in hand | 54/58 | €274,279 | €251,591 | -€22,688 | -8.3% |
| Deferred charges and accrued income | 490/1 | €34,530 | €47,885 | +€13,355 | +38.7% |
| Total equity and liabilities | 10/49 | €2,044,345 | €1,732,054 | -€312,291 | -15.3% |
| Equity | 10/15 | €1,513,575 | €1,147,044 | -€366,531 | -24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,256,359 | €889,760 | -€366,599 | -29.2% |
| Non-distributable reserves | 130/1 | €10,860 | €10,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,860 | €10,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €1,207,999 | €841,400 | -€366,599 | -30.3% |
| Profit (loss) carried forward | 14 | €238,616 | €238,684 | +€68 | 0.0% |
| Amounts payable | 17/49 | €530,770 | €585,010 | +€54,240 | +10.2% |
| Amounts payable after more than one year | 17 | €406,717 | €390,047 | -€16,670 | -4.1% |
| Financial debts | 170/4 | €406,717 | €390,047 | -€16,670 | -4.1% |
| Amounts payable within one year | 42/48 | €124,053 | €194,963 | +€70,910 | +57.2% |
| Current portion of amounts payable after more than one year | 42 | €22,997 | €28,036 | +€5,039 | +21.9% |
| Trade debts | 44 | €2,649 | €797 | -€1,852 | -69.9% |
| Suppliers | 440/4 | €2,649 | €797 | -€1,852 | -69.9% |
| Taxes, remuneration and social security | 45 | €98,407 | €166,130 | +€67,723 | +68.8% |
| Taxes | 450/3 | €98,407 | €166,130 | +€67,723 | +68.8% |
| Non-recurring operating income | 76A | €16,554 | - | -€16,554 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,871 | €53,208 | +€2,337 | +4.6% |
| Other operating charges | 640/8 | €7,664 | €3,603 | -€4,061 | -53.0% |
| Gross operating margin | 9900 | €502,736 | €497,747 | -€4,989 | -1.0% |
| Operating profit (loss) | 9901 | €444,201 | €440,935 | -€3,266 | -0.7% |
| Financial income | 75/76B | €9,458 | €9,219 | -€238 | -2.5% |
| Recurring financial income | 75 | €9,458 | €9,219 | -€238 | -2.5% |
| Financial charges | 65/66B | €20,803 | €18,946 | -€1,858 | -8.9% |
| Recurring financial charges | 65 | €20,803 | €18,946 | -€1,858 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €432,855 | €431,209 | -€1,646 | -0.4% |
| Income taxes | 67/77 | €136,823 | €135,241 | -€1,582 | -1.2% |
| Profit (loss) for the period | 9904 | €296,032 | €295,968 | -€64 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €296,032 | €295,968 | -€64 | 0.0% |
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 5 October 2026 via checked.be.