CARDIOBLOU: 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.
CARDIOBLOU
Largest movements
- Cash +€394,676
up €394,676 (+254%), from €155,082 to €549,758
mainly Net result for the year (+€233,980) and Current investments (+€100,000)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€60,561
down €60,561 (-6.6%), from €915,364 to €854,802
of which Land and buildings: -€35,853
- Reserves +€233,500
up €233,500 (+25.5%), from €914,120 to €1.1m
- Debts after one year -€16,847
down €16,847 (-5.1%), from €331,621 to €314,774
of which Financial debts: -€16,847
- Gross operating margin +€48,651
up €48,651 (+11.5%), from €423,472 to €472,123
- Taxes +€14,411
up €14,411 (+16.0%), from €90,103 to €104,513
- Depreciation +€11,175
up €11,175 (+21.0%), from €53,244 to €64,420
- Financial charges -€4,760
down €4,760 (-18.1%), from €26,366 to €21,607
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 | €1,335,947 | €1,573,547 | +€237,599 | +17.8% |
| Fixed assets | 21/28 | €915,414 | €854,852 | -€60,561 | -6.6% |
| Tangible fixed assets | 22/27 | €915,364 | €854,802 | -€60,561 | -6.6% |
| Land and buildings | 22 | €802,132 | €766,279 | -€35,853 | -4.5% |
| Plant, machinery and equipment | 23 | €9,475 | €6,166 | -€3,309 | -34.9% |
| Furniture and vehicles | 24 | €103,756 | €82,358 | -€21,399 | -20.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €420,534 | €718,694 | +€298,161 | +70.9% |
| Amounts receivable within one year | 40/41 | €155,555 | €159,582 | +€4,027 | +2.6% |
| Trade receivables | 40 | €150,195 | €158,317 | +€8,122 | +5.4% |
| Other amounts receivable | 41 | €5,360 | €1,265 | -€4,096 | -76.4% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €155,082 | €549,758 | +€394,676 | +254% |
| Deferred charges and accrued income | 490/1 | €9,896 | €9,354 | -€542 | -5.5% |
| Total equity and liabilities | 10/49 | €1,335,947 | €1,573,547 | +€237,599 | +17.8% |
| Equity | 10/15 | €920,841 | €1,153,988 | +€233,147 | +25.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €914,120 | €1,147,620 | +€233,500 | +25.5% |
| Distributable reserves | 133 | €914,120 | €1,147,620 | +€233,500 | +25.5% |
| Profit (loss) carried forward | 14 | €521 | €168 | -€353 | -67.8% |
| Amounts payable | 17/49 | €415,107 | €419,559 | +€4,452 | +1.1% |
| Amounts payable after more than one year | 17 | €331,621 | €314,774 | -€16,847 | -5.1% |
| Financial debts | 170/4 | €131,621 | €114,774 | -€16,847 | -12.8% |
| Other amounts payable | 178/9 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €72,827 | €94,228 | +€21,401 | +29.4% |
| Current portion of amounts payable after more than one year | 42 | €17,423 | €18,218 | +€795 | +4.6% |
| Trade debts | 44 | €7,623 | €9,853 | +€2,231 | +29.3% |
| Suppliers | 440/4 | €7,623 | €9,853 | +€2,231 | +29.3% |
| Taxes, remuneration and social security | 45 | €46,104 | €61,093 | +€14,989 | +32.5% |
| Taxes | 450/3 | €30,722 | €47,579 | +€16,857 | +54.9% |
| Remuneration and social security | 454/9 | €15,382 | €13,514 | -€1,868 | -12.1% |
| Other amounts payable | 47/48 | €1,677 | €5,063 | +€3,386 | +202% |
| Accrued charges and deferred income | 492/3 | €10,659 | €10,558 | -€102 | -1.0% |
| Remuneration, social security and pensions | 62 | €41,130 | €39,594 | -€1,537 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,244 | €64,420 | +€11,175 | +21.0% |
| Other operating charges | 640/8 | €11,507 | €8,622 | -€2,885 | -25.1% |
| Non-recurring operating charges | 66A | - | €102 | +€102 | |
| Gross operating margin | 9900 | €423,472 | €472,123 | +€48,651 | +11.5% |
| Operating profit (loss) | 9901 | €317,590 | €359,386 | +€41,795 | +13.2% |
| Financial income | 75/76B | €1,210 | €714 | -€496 | -41.0% |
| Recurring financial income | 75 | €1,210 | €714 | -€496 | -41.0% |
| Financial charges | 65/66B | €26,366 | €21,607 | -€4,760 | -18.1% |
| Recurring financial charges | 65 | €26,366 | €21,607 | -€4,760 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €292,434 | €338,493 | +€46,059 | +15.8% |
| Income taxes | 67/77 | €90,103 | €104,513 | +€14,411 | +16.0% |
| Profit (loss) for the period | 9904 | €202,332 | €233,980 | +€31,648 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €202,332 | €233,980 | +€31,648 | +15.6% |
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 26 October 2026 via checked.be.