Cardioréa: 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.
Cardioréa
Largest movements
- Cash -€68,723
down €68,723 (-45.1%), from €152,524 to €83,801
mainly Contributions, distributions and other (-€203,002) and Debts after one year (-€39,933)
- Intangible fixed assets -€40,600
down €40,600 (-14.3%), from €284,200 to €243,600
- Deferred charges and accrued income +€23,343
up €23,343 (+1,782%), from €1,310 to €24,653
- Tangible fixed assets -€10,778
down €10,778 (-23.9%), from €45,138 to €34,360
- Profit (loss) carried forward -€145,893
no longer reported in 2025 (was €145,893)
- Other debts +€88,449
up €88,449 (+46.1%), from €191,854 to €280,303
- Debts after one year -€39,933
down €39,933 (-43.1%), from €92,670 to €52,737
- Taxes +€3,725
up €3,725 (+23.0%), from €16,217 to €19,942
- Gross operating margin -€2,327
down €2,327 (-1.7%), from €138,304 to €135,977
- Financial charges -€1,442
down €1,442 (-24.1%), from €5,974 to €4,532
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 | €483,172 | €386,414 | -€96,758 | -20.0% |
| Fixed assets | 21/28 | €329,338 | €277,960 | -€51,378 | -15.6% |
| Intangible fixed assets | 21 | €284,200 | €243,600 | -€40,600 | -14.3% |
| Tangible fixed assets | 22/27 | €45,138 | €34,360 | -€10,778 | -23.9% |
| Furniture and vehicles | 24 | €45,138 | €34,360 | -€10,778 | -23.9% |
| Current assets | 29/58 | €153,834 | €108,454 | -€45,380 | -29.5% |
| Cash at bank and in hand | 54/58 | €152,524 | €83,801 | -€68,723 | -45.1% |
| Deferred charges and accrued income | 490/1 | €1,310 | €24,653 | +€23,343 | +1,782% |
| Total equity and liabilities | 10/49 | €483,172 | €386,414 | -€96,758 | -20.0% |
| Equity | 10/15 | €149,393 | €3,500 | -€145,893 | -97.7% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €145,893 | - | -€145,893 | |
| Amounts payable | 17/49 | €333,779 | €382,914 | +€49,135 | +14.7% |
| Amounts payable after more than one year | 17 | €92,670 | €52,737 | -€39,933 | -43.1% |
| Financial debts | 170/4 | €92,670 | €52,737 | -€39,933 | -43.1% |
| Amounts payable within one year | 42/48 | €241,110 | €330,177 | +€89,067 | +36.9% |
| Current portion of amounts payable after more than one year | 42 | €38,447 | €39,933 | +€1,486 | +3.9% |
| Taxes, remuneration and social security | 45 | €10,809 | €9,942 | -€867 | -8.0% |
| Taxes | 450/3 | €10,809 | €9,942 | -€867 | -8.0% |
| Other amounts payable | 47/48 | €191,854 | €280,303 | +€88,449 | +46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,766 | €53,617 | -€149 | -0.3% |
| Other operating charges | 640/8 | €1,864 | €777 | -€1,087 | -58.3% |
| Gross operating margin | 9900 | €138,304 | €135,977 | -€2,327 | -1.7% |
| Operating profit (loss) | 9901 | €82,673 | €81,583 | -€1,090 | -1.3% |
| Financial charges | 65/66B | €5,974 | €4,532 | -€1,442 | -24.1% |
| Recurring financial charges | 65 | €5,974 | €4,532 | -€1,442 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €76,699 | €77,051 | +€352 | +0.5% |
| Income taxes | 67/77 | €16,217 | €19,942 | +€3,725 | +23.0% |
| Profit (loss) for the period | 9904 | €60,482 | €57,110 | -€3,373 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €60,482 | €57,110 | -€3,373 | -5.6% |
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 23 October 2026 via checked.be.