CARDIODAV: what changed
Two fiscal 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.
CARDIODAV
Largest movements
- Cash +€67,197
up €67,197 (+87.2%), from €77,078 to €144,275
mainly Depreciation (+€46,883) and Net result for the year (+€45,783)
- Intangible fixed assets -€31,000
no longer reported in 2025 (was €31,000)
- Deferred charges and accrued income -€18,811
down €18,811 (-33.7%), from €55,788 to €36,977
- Tangible fixed assets -€9,647
down €9,647 (-5.2%), from €184,002 to €174,355
of which Land and buildings: -€5,168
- Reserves +€45,783
up €45,783 (+56.6%), from €80,818 to €126,601
- Debts after one year -€23,764
down €23,764 (-13.2%), from €180,708 to €156,944
- Other debts -€12,667
down €12,667 (-36.6%), from €34,619 to €21,952
- Gross operating margin +€32,359
up €32,359 (+36.4%), from €88,859 to €121,219
- Depreciation -€18,926
down €18,926 (-28.8%), from €65,809 to €46,883
- Taxes +€14,339
up €14,339 (+234.1%), from €6,125 to €20,464
- Financial charges -€1,573
down €1,573 (-18.7%), from €8,404 to €6,831
of which Financial charges: -€1,577
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 | €354,012 | €361,750 | +€7,739 | +2.2% |
| Fixed assets | 21/28 | €215,002 | €174,355 | -€40,647 | -18.9% |
| Intangible fixed assets | 21 | €31,000 | - | -€31,000 | |
| Tangible fixed assets | 22/27 | €184,002 | €174,355 | -€9,647 | -5.2% |
| Land and buildings | 22 | €176,792 | €171,624 | -€5,168 | -2.9% |
| Furniture and vehicles | 24 | €6,665 | €2,732 | -€3,934 | -59.0% |
| Other tangible fixed assets | 26 | €545 | - | -€545 | |
| Current assets | 29/58 | €139,010 | €187,395 | +€48,386 | +34.8% |
| Amounts receivable within one year | 40/41 | €6,144 | €6,144 | = | 0.0% |
| Other amounts receivable | 41 | €6,144 | €6,144 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €77,078 | €144,275 | +€67,197 | +87.2% |
| Deferred charges and accrued income | 490/1 | €55,788 | €36,977 | -€18,811 | -33.7% |
| Total equity and liabilities | 10/49 | €354,012 | €361,750 | +€7,739 | +2.2% |
| Equity | 10/15 | €95,078 | €140,861 | +€45,783 | +48.2% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €80,818 | €126,601 | +€45,783 | +56.6% |
| Distributable reserves | 133 | €80,818 | €126,601 | +€45,783 | +56.6% |
| Amounts payable | 17/49 | €258,934 | €220,890 | -€38,045 | -14.7% |
| Amounts payable after more than one year | 17 | €180,708 | €156,944 | -€23,764 | -13.2% |
| Financial debts | 170/4 | €180,708 | €156,944 | -€23,764 | -13.2% |
| Amounts payable within one year | 42/48 | €76,346 | €63,946 | -€12,400 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €17,596 | €18,228 | +€632 | +3.6% |
| Trade debts | 44 | €10,497 | €13,533 | +€3,036 | +28.9% |
| Suppliers | 440/4 | €10,497 | €13,533 | +€3,036 | +28.9% |
| Taxes, remuneration and social security | 45 | €13,634 | €10,233 | -€3,401 | -24.9% |
| Taxes | 450/3 | €13,634 | €10,233 | -€3,401 | -24.9% |
| Other amounts payable | 47/48 | €34,619 | €21,952 | -€12,667 | -36.6% |
| Accrued charges and deferred income | 492/3 | €1,880 | - | -€1,880 | |
| Non-recurring operating income | 76A | €3 | €22 | +€19 | +617.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,809 | €46,883 | -€18,926 | -28.8% |
| Other operating charges | 640/8 | €768 | €585 | -€183 | -23.9% |
| Non-recurring operating charges | 66A | €63 | €672 | +€609 | +964.9% |
| Gross operating margin | 9900 | €88,859 | €121,219 | +€32,359 | +36.4% |
| Operating profit (loss) | 9901 | €22,219 | €73,078 | +€50,860 | +228.9% |
| Financial charges | 65/66B | €8,404 | €6,831 | -€1,573 | -18.7% |
| Recurring financial charges | 65 | €8,404 | €6,827 | -€1,577 | -18.8% |
| Non-recurring financial charges | 66B | - | €5 | +€5 | |
| Profit (loss) for the period before taxes | 9903 | €13,815 | €66,247 | +€52,432 | +379.5% |
| Income taxes | 67/77 | €6,125 | €20,464 | +€14,339 | +234.1% |
| Profit (loss) for the period | 9904 | €7,690 | €45,783 | +€38,093 | +495.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,690 | €45,783 | +€38,093 | +495.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.