CARDIOLUX: 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.
CARDIOLUX
Largest movements
- Current investments +€102,485
up €102,485 (+50.9%), from €201,151 to €303,636
- Receivables within one year +€69,889
up €69,889 (+52.8%), from €132,339 to €202,228
of which Other amounts receivable: +€51,695
- Cash -€35,909
down €35,909 (-17.6%), from €203,852 to €167,942
mainly Current investments (-€102,485) and Receivables within one year (-€69,889)
- Reserves +€153,700
up €153,700 (+28.7%), from €534,660 to €688,360
of which Distributable reserves: +€153,700
- Trade debts -€11,584
down €11,584 (-63.5%), from €18,235 to €6,651
- Tax, wage and social debts -€9,022
down €9,022 (-29.2%), from €30,887 to €21,864
- Gross operating margin -€14,061
down €14,061 (-5.3%), from €266,657 to €252,596
- Depreciation -€5,899
down €5,899 (-39.6%), from €14,890 to €8,991
- Financial income +€5,232
up €5,232 (+66.5%), from €7,865 to €13,097
- Staff costs -€3,238
no longer reported in 2025 (was €3,238)
- Financial charges +€3,176
up €3,176, from -€795 to €2,381
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 | €596,434 | €729,555 | +€133,120 | +22.3% |
| Fixed assets | 21/28 | €55,836 | €51,144 | -€4,692 | -8.4% |
| Tangible fixed assets | 22/27 | €38,786 | €34,094 | -€4,692 | -12.1% |
| Plant, machinery and equipment | 23 | €23,005 | €16,885 | -€6,121 | -26.6% |
| Furniture and vehicles | 24 | €15,781 | €17,210 | +€1,429 | +9.1% |
| Financial fixed assets | 28 | €17,050 | €17,050 | = | 0.0% |
| Current assets | 29/58 | €540,598 | €678,410 | +€137,812 | +25.5% |
| Amounts receivable within one year | 40/41 | €132,339 | €202,228 | +€69,889 | +52.8% |
| Trade receivables | 40 | €12,571 | €30,764 | +€18,193 | +145% |
| Other amounts receivable | 41 | €119,768 | €171,463 | +€51,695 | +43.2% |
| Current investments | 50/53 | €201,151 | €303,636 | +€102,485 | +50.9% |
| Cash at bank and in hand | 54/58 | €203,852 | €167,942 | -€35,909 | -17.6% |
| Deferred charges and accrued income | 490/1 | €3,256 | €4,604 | +€1,349 | +41.4% |
| Total equity and liabilities | 10/49 | €596,434 | €729,555 | +€133,120 | +22.3% |
| Equity | 10/15 | €547,312 | €701,039 | +€153,727 | +28.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €534,660 | €688,360 | +€153,700 | +28.7% |
| 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 | €532,800 | €686,500 | +€153,700 | +28.8% |
| Profit (loss) carried forward | 14 | €252 | €279 | +€27 | +10.7% |
| Amounts payable | 17/49 | €49,122 | €28,515 | -€20,607 | -42.0% |
| Amounts payable within one year | 42/48 | €49,122 | €28,515 | -€20,607 | -42.0% |
| Trade debts | 44 | €18,235 | €6,651 | -€11,584 | -63.5% |
| Suppliers | 440/4 | €18,235 | €6,651 | -€11,584 | -63.5% |
| Taxes, remuneration and social security | 45 | €30,887 | €21,864 | -€9,022 | -29.2% |
| Taxes | 450/3 | €30,887 | €21,864 | -€9,022 | -29.2% |
| Remuneration, social security and pensions | 62 | €3,238 | - | -€3,238 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,890 | €8,991 | -€5,899 | -39.6% |
| Gross operating margin | 9900 | €266,657 | €252,596 | -€14,061 | -5.3% |
| Operating profit (loss) | 9901 | €248,530 | €243,605 | -€4,925 | -2.0% |
| Financial income | 75/76B | €7,865 | €13,097 | +€5,232 | +66.5% |
| Recurring financial income | 75 | €7,865 | €13,097 | +€5,232 | +66.5% |
| Financial charges | 65/66B | -€795 | €2,381 | +€3,176 | |
| Recurring financial charges | 65 | -€795 | €2,381 | +€3,176 | |
| Profit (loss) for the period before taxes | 9903 | €257,190 | €254,321 | -€2,868 | -1.1% |
| Income taxes | 67/77 | €78,927 | €78,394 | -€533 | -0.7% |
| Profit (loss) for the period | 9904 | €178,263 | €175,927 | -€2,336 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €178,263 | €175,927 | -€2,336 | -1.3% |
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 17 October 2026 via checked.be.