CARDIOMA: what changed
What changed
CARDIOMA
filed annual accounts (NBB)
Net result for the year
€136,572
2025 · €137,576-€1,004
Equity
€597,409
2025 · €714,036-€116,627
Cash
€299,019
2025 · €309,412-€10,393
Balance sheet total
€912,630
2025 · €953,977-€41,347
Largest movements
Assets
- Tangible fixed assets -€31,026
down €31,026 (-7.8%), from €399,731 to €368,705
of which Land and buildings: -€39,081
- Cash -€10,393
down €10,393 (-3.4%), from €309,412 to €299,019
mainly Contributions, distributions and other (-€253,199) and Debts after one year (-€51,230)
Equity and liabilities
- Other debts +€146,258
new in 2026: €146,258
- Reserves -€116,627
down €116,627 (-23.3%), from €501,478 to €384,851
of which Distributable reserves: -€116,627
- Debts after one year -€51,230
down €51,230 (-39.5%), from €129,639 to €78,409
- Current portion of long-term debt -€12,488
down €12,488 (-18.3%), from €68,396 to €55,908
- Tax, wage and social debts -€11,392
down €11,392 (-27.5%), from €41,408 to €30,016
Income statement
- Taxes +€4,421
up €4,421 (+6.8%), from €65,025 to €69,446
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€137,576
Gross operating margin
+€173
Depreciation
-€979
Other operating charges
+€448
Other operating items
+€2,279
Financial income
-€1,012
Financial charges
+€2,508
Taxes
-€4,421
Result 2026
€136,572
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€335,310
Investment
-€28,787
Financing
-€316,916
Cash 2025
€309,412
From operations (derived)
+€335,310
Net result for the year
+€136,572
Depreciation
+€59,813
Receivables within one year
+€3,322
Deferred charges and accrued income
-€3,394
Trade debts
+€4,132
Tax, wage and social debts
-€11,392
Other debts
+€146,258
Investment (derived)
-€28,787
Investment in fixed assets (net)
-€28,787
Financing
-€316,916
Debts after one year
-€51,230
Current portion of long-term debt
-€12,488
Contributions, distributions and other
-€253,199
Cash 2026
€299,019
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €953,977 | €912,630 | -€41,347 | -4.3% |
| Fixed assets | 21/28 | €399,731 | €368,705 | -€31,026 | -7.8% |
| Tangible fixed assets | 22/27 | €399,731 | €368,705 | -€31,026 | -7.8% |
| Land and buildings | 22 | €339,068 | €299,986 | -€39,081 | -11.5% |
| Plant, machinery and equipment | 23 | €31,693 | €19,992 | -€11,701 | -36.9% |
| Furniture and vehicles | 24 | €9,021 | €26,268 | +€17,247 | +191% |
| Other tangible fixed assets | 26 | €19,950 | €22,459 | +€2,509 | +12.6% |
| Current assets | 29/58 | €554,246 | €543,925 | -€10,321 | -1.9% |
| Amounts receivable within one year | 40/41 | €166,634 | €163,312 | -€3,322 | -2.0% |
| Other amounts receivable | 41 | €166,634 | €163,312 | -€3,322 | -2.0% |
| Cash at bank and in hand | 54/58 | €309,412 | €299,019 | -€10,393 | -3.4% |
| Deferred charges and accrued income | 490/1 | €78,200 | €81,594 | +€3,394 | +4.3% |
| Total equity and liabilities | 10/49 | €953,977 | €912,630 | -€41,347 | -4.3% |
| Equity | 10/15 | €714,036 | €597,409 | -€116,627 | -16.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €501,478 | €384,851 | -€116,627 | -23.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €499,618 | €382,991 | -€116,627 | -23.3% |
| Profit (loss) carried forward | 14 | €200,158 | €200,158 | = | 0.0% |
| Amounts payable | 17/49 | €239,941 | €315,221 | +€75,280 | +31.4% |
| Amounts payable after more than one year | 17 | €129,639 | €78,409 | -€51,230 | -39.5% |
| Financial debts | 170/4 | €129,639 | €78,409 | -€51,230 | -39.5% |
| Amounts payable within one year | 42/48 | €110,302 | €236,813 | +€126,510 | +115% |
| Current portion of amounts payable after more than one year | 42 | €68,396 | €55,908 | -€12,488 | -18.3% |
| Trade debts | 44 | €499 | €4,631 | +€4,132 | +828% |
| Suppliers | 440/4 | €499 | €4,631 | +€4,132 | +828% |
| Taxes, remuneration and social security | 45 | €41,408 | €30,016 | -€11,392 | -27.5% |
| Taxes | 450/3 | €41,408 | €30,016 | -€11,392 | -27.5% |
| Other amounts payable | 47/48 | - | €146,258 | +€146,258 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,834 | €59,813 | +€979 | +1.7% |
| Other operating charges | 640/8 | €8,339 | €7,891 | -€448 | -5.4% |
| Non-recurring operating charges | 66A | €2,279 | - | -€2,279 | |
| Gross operating margin | 9900 | €279,048 | €279,220 | +€173 | +0.1% |
| Operating profit (loss) | 9901 | €209,596 | €211,517 | +€1,921 | +0.9% |
| Financial income | 75/76B | €3,339 | €2,327 | -€1,012 | -30.3% |
| Recurring financial income | 75 | €3,339 | €2,327 | -€1,012 | -30.3% |
| Financial charges | 65/66B | €10,334 | €7,825 | -€2,508 | -24.3% |
| Recurring financial charges | 65 | €10,334 | €7,825 | -€2,508 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €202,601 | €206,018 | +€3,417 | +1.7% |
| Income taxes | 67/77 | €65,025 | €69,446 | +€4,421 | +6.8% |
| Profit (loss) for the period | 9904 | €137,576 | €136,572 | -€1,004 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €137,576 | €136,572 | -€1,004 | -0.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.