CARDIO-TIM: 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-TIM
Largest movements
- Cash +€722,221
up €722,221 (+260.4%), from €277,358 to €999,579
mainly Current investments (+€500,000) and Net result for the year (+€182,519)
- Current investments -€500,000
no longer reported in 2025 (was €500,000)
- Receivables after one year -€70,000
no longer reported in 2025 (was €70,000)
- Deferred charges and accrued income -€19,660
down €19,660 (-31.2%), from €63,038 to €43,378
- Tangible fixed assets -€13,656
down €13,656 (-37.3%), from €36,583 to €22,927
of which Plant, machinery and equipment: -€9,324
- Reserves +€108,500
up €108,500 (+11.2%), from €967,360 to €1.1m
of which Distributable reserves: +€108,500
- Tax, wage and social debts +€14,756
up €14,756 (+169.4%), from €8,711 to €23,467
- Gross operating margin +€14,710
up €14,710 (+5.6%), from €261,706 to €276,416
- Financial income +€14,464
up €14,464 (+591.3%), from €2,446 to €16,911
- Taxes +€8,028
up €8,028 (+10.3%), from €78,296 to €86,325
- Depreciation +€3,098
up €3,098 (+17.7%), from €17,515 to €20,613
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 | €998,529 | €1,117,921 | +€119,391 | +12.0% |
| Fixed assets | 21/28 | €88,134 | €74,964 | -€13,170 | -14.9% |
| Tangible fixed assets | 22/27 | €36,583 | €22,927 | -€13,656 | -37.3% |
| Plant, machinery and equipment | 23 | €16,711 | €7,387 | -€9,324 | -55.8% |
| Furniture and vehicles | 24 | €17,117 | €14,146 | -€2,971 | -17.4% |
| Other tangible fixed assets | 26 | €2,755 | €1,394 | -€1,361 | -49.4% |
| Financial fixed assets | 28 | €51,551 | €52,036 | +€486 | +0.9% |
| Current assets | 29/58 | €910,396 | €1,042,957 | +€132,561 | +14.6% |
| Amounts receivable after more than one year | 29 | €70,000 | - | -€70,000 | |
| Trade receivables | 290 | €70,000 | - | -€70,000 | |
| Current investments | 50/53 | €500,000 | - | -€500,000 | |
| Cash at bank and in hand | 54/58 | €277,358 | €999,579 | +€722,221 | +260.4% |
| Deferred charges and accrued income | 490/1 | €63,038 | €43,378 | -€19,660 | -31.2% |
| Total equity and liabilities | 10/49 | €998,529 | €1,117,921 | +€119,391 | +12.0% |
| Equity | 10/15 | €981,411 | €1,089,930 | +€108,519 | +11.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €967,360 | €1,075,860 | +€108,500 | +11.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €965,500 | €1,074,000 | +€108,500 | +11.2% |
| Profit (loss) carried forward | 14 | €1,651 | €1,670 | +€19 | +1.1% |
| Amounts payable | 17/49 | €17,119 | €27,991 | +€10,872 | +63.5% |
| Amounts payable within one year | 42/48 | €17,119 | €27,991 | +€10,872 | +63.5% |
| Trade debts | 44 | €2,313 | €2,074 | -€240 | -10.4% |
| Suppliers | 440/4 | €2,313 | €2,074 | -€240 | -10.4% |
| Taxes, remuneration and social security | 45 | €8,711 | €23,467 | +€14,756 | +169.4% |
| Taxes | 450/3 | €8,711 | €23,467 | +€14,756 | +169.4% |
| Other amounts payable | 47/48 | €6,094 | €2,451 | -€3,644 | -59.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,515 | €20,613 | +€3,098 | +17.7% |
| Other operating charges | 640/8 | €2,846 | €3,719 | +€873 | +30.7% |
| Gross operating margin | 9900 | €261,706 | €276,416 | +€14,710 | +5.6% |
| Operating profit (loss) | 9901 | €241,345 | €252,083 | +€10,738 | +4.4% |
| Financial income | 75/76B | €2,446 | €16,911 | +€14,464 | +591.3% |
| Recurring financial income | 75 | €2,446 | €16,911 | +€14,464 | +591.3% |
| Financial charges | 65/66B | €116 | €150 | +€35 | +30.2% |
| Recurring financial charges | 65 | €116 | €150 | +€35 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | €243,676 | €268,844 | +€25,168 | +10.3% |
| Income taxes | 67/77 | €78,296 | €86,325 | +€8,028 | +10.3% |
| Profit (loss) for the period | 9904 | €165,379 | €182,519 | +€17,140 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €165,379 | €182,519 | +€17,140 | +10.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.