CARDIOLARIS: 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.
CARDIOLARIS
Largest movements
- Tangible fixed assets +€163,399
up €163,399 (+20.5%), from €796,863 to €960,262
of which Land and buildings: +€184,371
- Reserves +€128,991
up €128,991 (+111%), from €116,240 to €245,230
- Debts after one year +€63,270
up €63,270 (+10.9%), from €581,172 to €644,443
- Other debts -€27,461
down €27,461 (-18.1%), from €151,426 to €123,965
- Current portion of long-term debt +€13,468
up €13,468 (+22.2%), from €60,542 to €74,010
- Gross operating margin +€23,997
up €23,997 (+10.9%), from €220,032 to €244,029
- Depreciation +€5,581
up €5,581 (+11.5%), from €48,468 to €54,049
- Financial charges +€4,225
up €4,225 (+28.5%), from €14,812 to €19,037
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 | €946,816 | €1,109,205 | +€162,390 | +17.2% |
| Fixed assets | 21/28 | €797,293 | €960,692 | +€163,399 | +20.5% |
| Tangible fixed assets | 22/27 | €796,863 | €960,262 | +€163,399 | +20.5% |
| Land and buildings | 22 | €701,330 | €885,701 | +€184,371 | +26.3% |
| Plant, machinery and equipment | 23 | €11,354 | €6,407 | -€4,947 | -43.6% |
| Furniture and vehicles | 24 | €84,179 | €68,155 | -€16,025 | -19.0% |
| Financial fixed assets | 28 | €430 | €430 | = | 0.0% |
| Current assets | 29/58 | €149,523 | €148,513 | -€1,009 | -0.7% |
| Amounts receivable within one year | 40/41 | - | €260 | +€260 | |
| Trade receivables | 40 | - | €260 | +€260 | |
| Current investments | 50/53 | - | €4,000 | +€4,000 | |
| Cash at bank and in hand | 54/58 | €86,121 | €85,801 | -€320 | -0.4% |
| Deferred charges and accrued income | 490/1 | €63,402 | €58,453 | -€4,949 | -7.8% |
| Total equity and liabilities | 10/49 | €946,816 | €1,109,205 | +€162,390 | +17.2% |
| Equity | 10/15 | €134,840 | €263,830 | +€128,991 | +95.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €116,240 | €245,230 | +€128,991 | +111% |
| Distributable reserves | 133 | €116,240 | €245,230 | +€128,991 | +111% |
| Amounts payable | 17/49 | €811,976 | €845,375 | +€33,399 | +4.1% |
| Amounts payable after more than one year | 17 | €581,172 | €644,443 | +€63,270 | +10.9% |
| Financial debts | 170/4 | €581,172 | €644,443 | +€63,270 | +10.9% |
| Amounts payable within one year | 42/48 | €225,683 | €200,933 | -€24,750 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €60,542 | €74,010 | +€13,468 | +22.2% |
| Financial debts | 43 | €1,264 | - | -€1,264 | |
| Credit institutions | 430/8 | €1,264 | - | -€1,264 | |
| Trade debts | 44 | €2,779 | €945 | -€1,834 | -66.0% |
| Suppliers | 440/4 | €2,779 | €945 | -€1,834 | -66.0% |
| Taxes, remuneration and social security | 45 | €9,672 | €2,013 | -€7,659 | -79.2% |
| Taxes | 450/3 | €9,672 | €2,013 | -€7,659 | -79.2% |
| Other amounts payable | 47/48 | €151,426 | €123,965 | -€27,461 | -18.1% |
| Accrued charges and deferred income | 492/3 | €5,121 | - | -€5,121 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,468 | €54,049 | +€5,581 | +11.5% |
| Other operating charges | 640/8 | €2,935 | €2,158 | -€777 | -26.5% |
| Gross operating margin | 9900 | €220,032 | €244,029 | +€23,997 | +10.9% |
| Operating profit (loss) | 9901 | €168,628 | €187,822 | +€19,194 | +11.4% |
| Financial income | 75/76B | €0 | €1 | +€0 | +1,567% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +1,567% |
| Financial charges | 65/66B | €14,812 | €19,037 | +€4,225 | +28.5% |
| Recurring financial charges | 65 | €14,812 | €19,037 | +€4,225 | +28.5% |
| Profit (loss) for the period before taxes | 9903 | €153,816 | €168,786 | +€14,969 | +9.7% |
| Income taxes | 67/77 | €37,577 | €39,795 | +€2,218 | +5.9% |
| Profit (loss) for the period | 9904 | €116,240 | €128,991 | +€12,751 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €116,240 | €128,991 | +€12,751 | +11.0% |
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 18 October 2026 via checked.be.