Cardio KVP: 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.
Cardio KVP
Largest movements
- Current investments +€21,243
new in 2025: €21,243
- Cash +€7,898
up €7,898 (+97.3%), from €8,119 to €16,017
mainly Net result for the year (+€41,974) and Depreciation (+€20,461)
- Reserves +€41,974
up €41,974 (+142%), from €29,459 to €71,433
- Other debts -€9,970
down €9,970 (-28.5%), from €34,951 to €24,981
- Tax, wage and social debts -€2,319
down €2,319 (-77.3%), from €2,999 to €680
of which Taxes: -€2,319
- Gross operating margin +€28,760
up €28,760 (+56.6%), from €50,817 to €79,577
- Depreciation +€5,936
up €5,936 (+40.9%), from €14,525 to €20,461
- Taxes +€5,160
up €5,160 (+64.5%), from €7,999 to €13,159
- Financial charges +€2,274
up €2,274 (+3,941%), from €58 to €2,331
- Other operating charges +€1,247
up €1,247 (+288%), from €432 to €1,679
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 | €79,006 | €107,637 | +€28,631 | +36.2% |
| Fixed assets | 21/28 | €69,691 | €70,017 | +€326 | +0.5% |
| Tangible fixed assets | 22/27 | €69,691 | €70,017 | +€326 | +0.5% |
| Plant, machinery and equipment | 23 | €29,558 | €41,327 | +€11,768 | +39.8% |
| Furniture and vehicles | 24 | €16,756 | €11,097 | -€5,658 | -33.8% |
| Other tangible fixed assets | 26 | €23,377 | €17,593 | -€5,784 | -24.7% |
| Current assets | 29/58 | €9,315 | €37,621 | +€28,305 | +304% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | - | €21,243 | +€21,243 | |
| Cash at bank and in hand | 54/58 | €8,119 | €16,017 | +€7,898 | +97.3% |
| Deferred charges and accrued income | 490/1 | €1,196 | €360 | -€836 | -69.9% |
| Total equity and liabilities | 10/49 | €79,006 | €107,637 | +€28,631 | +36.2% |
| Equity | 10/15 | €39,459 | €81,433 | +€41,974 | +106% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €29,459 | €71,433 | +€41,974 | +142% |
| Distributable reserves | 133 | €29,459 | €71,433 | +€41,974 | +142% |
| Amounts payable | 17/49 | €39,547 | €26,204 | -€13,343 | -33.7% |
| Amounts payable within one year | 42/48 | €39,547 | €26,204 | -€13,343 | -33.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,597 | €543 | -€1,054 | -66.0% |
| Suppliers | 440/4 | €1,597 | €543 | -€1,054 | -66.0% |
| Taxes, remuneration and social security | 45 | €2,999 | €680 | -€2,319 | -77.3% |
| Taxes | 450/3 | €2,999 | €680 | -€2,319 | -77.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €34,951 | €24,981 | -€9,970 | -28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,525 | €20,461 | +€5,936 | +40.9% |
| Other operating charges | 640/8 | €432 | €1,679 | +€1,247 | +288% |
| Gross operating margin | 9900 | €50,817 | €79,577 | +€28,760 | +56.6% |
| Operating profit (loss) | 9901 | €35,860 | €57,437 | +€21,577 | +60.2% |
| Financial income | 75/76B | €0 | €27 | +€27 | +68,200% |
| Recurring financial income | 75 | €0 | €27 | +€27 | +68,200% |
| Financial charges | 65/66B | €58 | €2,331 | +€2,274 | +3,941% |
| Recurring financial charges | 65 | €58 | €2,331 | +€2,274 | +3,941% |
| Profit (loss) for the period before taxes | 9903 | €35,803 | €55,133 | +€19,331 | +54.0% |
| Income taxes | 67/77 | €7,999 | €13,159 | +€5,160 | +64.5% |
| Profit (loss) for the period | 9904 | €27,803 | €41,974 | +€14,171 | +51.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,803 | €41,974 | +€14,171 | +51.0% |
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 30 October 2026 via checked.be.