CARDIORYTHM: what changed
CARDIORYTHM
Largest movements
- Current investments -€48,912
no longer reported in 2025 (was €48,912)
- Receivables within one year +€42,687
up €42,687 (+163%), from €26,225 to €68,912
of which Other amounts receivable: +€29,433
- Tangible fixed assets -€16,818
down €16,818 (-6.7%), from €251,896 to €235,079
of which Land and buildings: -€8,648
- Deferred charges and accrued income -€9,820
down €9,820 (-61.1%), from €16,062 to €6,242
- Cash -€3,931
down €3,931 (-10.4%), from €37,957 to €34,026
mainly Receivables within one year (-€42,687) and Other debts (-€32,624)
- Other debts -€32,624
down €32,624 (-55.5%), from €58,813 to €26,189
- Reserves +€15,500
up €15,500 (+14.8%), from €104,400 to €119,900
of which Distributable reserves: +€15,500
- Tax, wage and social debts -€8,602
down €8,602 (-34.2%), from €25,147 to €16,544
of which Taxes: -€8,652
- Debts after one year -€7,664
down €7,664 (-6.2%), from €122,690 to €115,026
- Gross operating margin -€20,018
down €20,018 (-19.4%), from €103,027 to €83,010
- Taxes -€4,156
down €4,156 (-17.6%), from €23,609 to €19,453
- Financial income +€3,922
up €3,922 (+1,785%), from €220 to €4,142
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €381,051 | €344,259 | -€36,793 | -9.7% |
| Fixed assets | 21/28 | €251,896 | €235,079 | -€16,818 | -6.7% |
| Tangible fixed assets | 22/27 | €251,896 | €235,079 | -€16,818 | -6.7% |
| Land and buildings | 22 | €239,652 | €231,005 | -€8,648 | -3.6% |
| Furniture and vehicles | 24 | €12,244 | €4,074 | -€8,170 | -66.7% |
| Current assets | 29/58 | €129,155 | €109,180 | -€19,975 | -15.5% |
| Amounts receivable within one year | 40/41 | €26,225 | €68,912 | +€42,687 | +163% |
| Trade receivables | 40 | €6,372 | €19,626 | +€13,254 | +208% |
| Other amounts receivable | 41 | €19,853 | €49,286 | +€29,433 | +148% |
| Current investments | 50/53 | €48,912 | - | -€48,912 | |
| Cash at bank and in hand | 54/58 | €37,957 | €34,026 | -€3,931 | -10.4% |
| Deferred charges and accrued income | 490/1 | €16,062 | €6,242 | -€9,820 | -61.1% |
| Total equity and liabilities | 10/49 | €381,051 | €344,259 | -€36,793 | -9.7% |
| Equity | 10/15 | €149,839 | €165,633 | +€15,794 | +10.5% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €104,400 | €119,900 | +€15,500 | +14.8% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €102,500 | €118,000 | +€15,500 | +15.1% |
| Profit (loss) carried forward | 14 | €26,439 | €26,733 | +€294 | +1.1% |
| Amounts payable | 17/49 | €231,212 | €178,625 | -€52,587 | -22.7% |
| Amounts payable after more than one year | 17 | €122,690 | €115,026 | -€7,664 | -6.2% |
| Financial debts | 170/4 | €122,690 | €115,026 | -€7,664 | -6.2% |
| Amounts payable within one year | 42/48 | €108,523 | €63,600 | -€44,923 | -41.4% |
| Current portion of amounts payable after more than one year | 42 | €9,146 | €7,664 | -€1,482 | -16.2% |
| Trade debts | 44 | €15,416 | €13,202 | -€2,214 | -14.4% |
| Suppliers | 440/4 | €15,416 | €13,202 | -€2,214 | -14.4% |
| Taxes, remuneration and social security | 45 | €25,147 | €16,544 | -€8,602 | -34.2% |
| Taxes | 450/3 | €15,654 | €7,002 | -€8,652 | -55.3% |
| Remuneration and social security | 454/9 | €9,492 | €9,542 | +€50 | +0.5% |
| Other amounts payable | 47/48 | €58,813 | €26,189 | -€32,624 | -55.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,710 | €18,267 | +€557 | +3.1% |
| Other operating charges | 640/8 | €2,161 | €2,226 | +€65 | +3.0% |
| Gross operating margin | 9900 | €103,027 | €83,010 | -€20,018 | -19.4% |
| Operating profit (loss) | 9901 | €83,157 | €62,517 | -€20,640 | -24.8% |
| Financial income | 75/76B | €220 | €4,142 | +€3,922 | +1,785% |
| Recurring financial income | 75 | €220 | €4,142 | +€3,922 | +1,785% |
| Financial charges | 65/66B | €5,742 | €5,412 | -€330 | -5.7% |
| Recurring financial charges | 65 | €5,742 | €5,412 | -€330 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €77,635 | €61,247 | -€16,388 | -21.1% |
| Income taxes | 67/77 | €23,609 | €19,453 | -€4,156 | -17.6% |
| Profit (loss) for the period | 9904 | €54,026 | €41,794 | -€12,231 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,026 | €41,794 | -€12,231 | -22.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.