CARDIO SALEMBIER: what changed
CARDIO SALEMBIER
Largest movements
- Current investments +€200,000
up €200,000 (+66.7%), from €300,000 to €500,000
- Cash -€118,391
down €118,391 (-45.9%), from €258,036 to €139,645
mainly Current investments (-€200,000) and Investment in fixed assets (net) (-€2,878)
- Intangible fixed assets -€35,000
down €35,000 (-66.7%), from €52,500 to €17,500
- Receivables within one year -€14,696
down €14,696 (-38.8%), from €37,859 to €23,164
- Reserves +€32,720
up €32,720 (+5.1%), from €640,934 to €673,654
- Gross operating margin -€74,041
down €74,041 (-48.7%), from €151,898 to €77,857
- Taxes -€22,551
down €22,551 (-56.5%), from €39,924 to €17,374
- Financial income +€3,395
up €3,395 (+40.8%), from €8,325 to €11,720
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €659,751 | €692,880 | +€33,129 | +5.0% |
| Fixed assets | 21/28 | €59,317 | €24,832 | -€34,486 | -58.1% |
| Intangible fixed assets | 21 | €52,500 | €17,500 | -€35,000 | -66.7% |
| Tangible fixed assets | 22/27 | €6,817 | €7,332 | +€514 | +7.5% |
| Plant, machinery and equipment | 23 | €2,642 | €1,805 | -€837 | -31.7% |
| Furniture and vehicles | 24 | €4,175 | €5,526 | +€1,351 | +32.4% |
| Current assets | 29/58 | €600,433 | €668,048 | +€67,615 | +11.3% |
| Amounts receivable within one year | 40/41 | €37,859 | €23,164 | -€14,696 | -38.8% |
| Other amounts receivable | 41 | €37,859 | €23,164 | -€14,696 | -38.8% |
| Current investments | 50/53 | €300,000 | €500,000 | +€200,000 | +66.7% |
| Cash at bank and in hand | 54/58 | €258,036 | €139,645 | -€118,391 | -45.9% |
| Deferred charges and accrued income | 490/1 | €4,538 | €5,239 | +€701 | +15.5% |
| Total equity and liabilities | 10/49 | €659,751 | €692,880 | +€33,129 | +5.0% |
| Equity | 10/15 | €659,651 | €692,374 | +€32,722 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €640,934 | €673,654 | +€32,720 | +5.1% |
| Distributable reserves | 133 | €640,934 | €673,654 | +€32,720 | +5.1% |
| Profit (loss) carried forward | 14 | €117 | €120 | +€2 | +2.0% |
| Amounts payable | 17/49 | €99 | €506 | +€407 | +409% |
| Amounts payable within one year | 42/48 | €99 | €506 | +€407 | +409% |
| Trade debts | 44 | €99 | €506 | +€407 | +409% |
| Suppliers | 440/4 | €99 | €506 | +€407 | +409% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,544 | €37,364 | -€181 | -0.5% |
| Other operating charges | 640/8 | €1,044 | €928 | -€116 | -11.1% |
| Gross operating margin | 9900 | €151,898 | €77,857 | -€74,041 | -48.7% |
| Operating profit (loss) | 9901 | €113,309 | €39,565 | -€73,744 | -65.1% |
| Financial income | 75/76B | €8,325 | €11,720 | +€3,395 | +40.8% |
| Recurring financial income | 75 | €8,325 | €11,720 | +€3,395 | +40.8% |
| Financial charges | 65/66B | €959 | €1,189 | +€230 | +24.0% |
| Recurring financial charges | 65 | €959 | €1,189 | +€230 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €120,675 | €50,096 | -€70,579 | -58.5% |
| Income taxes | 67/77 | €39,924 | €17,374 | -€22,551 | -56.5% |
| Profit (loss) for the period | 9904 | €80,751 | €32,722 | -€48,029 | -59.5% |
| Profit (loss) for the period to be appropriated | 9905 | €80,751 | €32,722 | -€48,029 | -59.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.