Cardio-line: 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-line
Largest movements
- Cash -€145,652
down €145,652 (-77.9%), from €187,002 to €41,350
mainly Other debts (-€116,044) and Contributions, distributions and other (-€76,000)
- Intangible fixed assets -€14,000
down €14,000 (-19.7%), from €71,148 to €57,148
- Other debts -€116,044
down €116,044 (-60.4%), from €192,098 to €76,054
- Tax, wage and social debts -€43,587
down €43,587 (-96.1%), from €45,337 to €1,750
- Gross operating margin -€46,963
down €46,963 (-28.6%), from €164,417 to €117,453
- Taxes -€12,075
down €12,075 (-35.7%), from €33,826 to €21,750
- Financial charges +€1,920
up €1,920 (+455%), from €422 to €2,342
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 | €290,371 | €132,231 | -€158,141 | -54.5% |
| Fixed assets | 21/28 | €76,145 | €60,712 | -€15,433 | -20.3% |
| Intangible fixed assets | 21 | €71,148 | €57,148 | -€14,000 | -19.7% |
| Tangible fixed assets | 22/27 | €4,997 | €3,564 | -€1,433 | -28.7% |
| Plant, machinery and equipment | 23 | €2,028 | €1,474 | -€554 | -27.3% |
| Furniture and vehicles | 24 | €2,970 | €2,090 | -€879 | -29.6% |
| Current assets | 29/58 | €214,227 | €71,519 | -€142,708 | -66.6% |
| Amounts receivable within one year | 40/41 | €398 | €1,568 | +€1,170 | +294% |
| Other amounts receivable | 41 | €398 | €1,568 | +€1,170 | +294% |
| Cash at bank and in hand | 54/58 | €187,002 | €41,350 | -€145,652 | -77.9% |
| Deferred charges and accrued income | 490/1 | €26,828 | €28,601 | +€1,774 | +6.6% |
| Total equity and liabilities | 10/49 | €290,371 | €132,231 | -€158,141 | -54.5% |
| Equity | 10/15 | €33,231 | €34,242 | +€1,011 | +3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,771 | €13,782 | +€1,011 | +7.9% |
| Amounts payable | 17/49 | €257,140 | €97,988 | -€159,152 | -61.9% |
| Amounts payable within one year | 42/48 | €257,140 | €97,988 | -€159,152 | -61.9% |
| Trade debts | 44 | €19,705 | €20,184 | +€479 | +2.4% |
| Suppliers | 440/4 | €19,705 | €20,184 | +€479 | +2.4% |
| Taxes, remuneration and social security | 45 | €45,337 | €1,750 | -€43,587 | -96.1% |
| Taxes | 450/3 | €45,337 | €1,750 | -€43,587 | -96.1% |
| Other amounts payable | 47/48 | €192,098 | €76,054 | -€116,044 | -60.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,239 | €15,433 | +€194 | +1.3% |
| Other operating charges | 640/8 | €201 | €101 | -€100 | -49.8% |
| Non-recurring operating charges | 66A | €724 | €817 | +€93 | +12.8% |
| Gross operating margin | 9900 | €164,417 | €117,453 | -€46,963 | -28.6% |
| Operating profit (loss) | 9901 | €148,253 | €101,103 | -€47,149 | -31.8% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €422 | €2,342 | +€1,920 | +455% |
| Recurring financial charges | 65 | €422 | €2,342 | +€1,920 | +455% |
| Profit (loss) for the period before taxes | 9903 | €147,833 | €98,761 | -€49,072 | -33.2% |
| Income taxes | 67/77 | €33,826 | €21,750 | -€12,075 | -35.7% |
| Profit (loss) for the period | 9904 | €114,008 | €77,011 | -€36,997 | -32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €114,008 | €77,011 | -€36,997 | -32.5% |
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 21 October 2026 via checked.be.