CARDIOTEAM: 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.
CARDIOTEAM
Largest movements
- Receivables within one year +€8,839
up €8,839 (+84.9%), from €10,411 to €19,251
of which Trade receivables: +€6,522
- Cash +€8,461
up €8,461 (+28.9%), from €29,285 to €37,746
mainly Depreciation (+€31,282) and Debts after one year (+€16,424)
- Deferred charges and accrued income +€3,189
up €3,189 (+515%), from €619 to €3,809
- Other debts -€21,998
down €21,998 (-34.4%), from €63,921 to €41,923
- Debts after one year +€16,424
new in 2025: €16,424
- Current portion of long-term debt +€11,189
new in 2025: €11,189
- Reserves +€7,000
up €7,000 (+10.6%), from €65,825 to €72,825
of which Distributable reserves: +€7,000
- Advances received +€5,870
new in 2025: €5,870
- Taxes -€2,406
down €2,406 (-46.3%), from €5,200 to €2,794
- Gross operating margin -€2,213
down €2,213 (-4.4%), from €49,979 to €47,766
- Depreciation +€1,322
up €1,322 (+4.4%), from €29,960 to €31,282
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 | €203,877 | €222,930 | +€19,053 | +9.3% |
| Fixed assets | 21/28 | €163,562 | €162,125 | -€1,437 | -0.9% |
| Tangible fixed assets | 22/27 | €163,562 | €162,125 | -€1,437 | -0.9% |
| Land and buildings | 22 | €104,709 | €98,068 | -€6,641 | -6.3% |
| Plant, machinery and equipment | 23 | €19,239 | €16,306 | -€2,933 | -15.2% |
| Furniture and vehicles | 24 | €39,614 | €47,751 | +€8,137 | +20.5% |
| Current assets | 29/58 | €40,315 | €60,805 | +€20,490 | +50.8% |
| Amounts receivable within one year | 40/41 | €10,411 | €19,251 | +€8,839 | +84.9% |
| Trade receivables | 40 | €5,618 | €12,140 | +€6,522 | +116% |
| Other amounts receivable | 41 | €4,793 | €7,110 | +€2,317 | +48.3% |
| Cash at bank and in hand | 54/58 | €29,285 | €37,746 | +€8,461 | +28.9% |
| Deferred charges and accrued income | 490/1 | €619 | €3,809 | +€3,189 | +515% |
| Total equity and liabilities | 10/49 | €203,877 | €222,930 | +€19,053 | +9.3% |
| Equity | 10/15 | €133,881 | €141,464 | +€7,583 | +5.7% |
| Contributions | 10/11 | €28,250 | €28,250 | = | 0.0% |
| Reserves | 13 | €65,825 | €72,825 | +€7,000 | +10.6% |
| Non-distributable reserves | 130/1 | €2,825 | €2,825 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,825 | €2,825 | = | 0.0% |
| Distributable reserves | 133 | €63,000 | €70,000 | +€7,000 | +11.1% |
| Profit (loss) carried forward | 14 | €39,806 | €40,389 | +€583 | +1.5% |
| Amounts payable | 17/49 | €69,996 | €81,466 | +€11,470 | +16.4% |
| Amounts payable after more than one year | 17 | - | €16,424 | +€16,424 | |
| Financial debts | 170/4 | - | €16,424 | +€16,424 | |
| Amounts payable within one year | 42/48 | €67,463 | €65,042 | -€2,421 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | - | €11,189 | +€11,189 | |
| Trade debts | 44 | €2,742 | €2,845 | +€104 | +3.8% |
| Suppliers | 440/4 | €2,742 | €2,845 | +€104 | +3.8% |
| Advances received on contracts in progress | 46 | - | €5,870 | +€5,870 | |
| Taxes, remuneration and social security | 45 | €800 | €3,215 | +€2,415 | +302% |
| Taxes | 450/3 | €800 | €3,215 | +€2,415 | +302% |
| Other amounts payable | 47/48 | €63,921 | €41,923 | -€21,998 | -34.4% |
| Accrued charges and deferred income | 492/3 | €2,533 | - | -€2,533 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,960 | €31,282 | +€1,322 | +4.4% |
| Other operating charges | 640/8 | €3,465 | €3,456 | -€9 | -0.3% |
| Gross operating margin | 9900 | €49,979 | €47,766 | -€2,213 | -4.4% |
| Operating profit (loss) | 9901 | €16,554 | €13,028 | -€3,526 | -21.3% |
| Financial income | 75/76B | €8 | €11 | +€3 | +37.3% |
| Recurring financial income | 75 | €8 | €11 | +€3 | +37.3% |
| Financial charges | 65/66B | €2,415 | €2,662 | +€247 | +10.2% |
| Recurring financial charges | 65 | €2,415 | €2,662 | +€247 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €14,147 | €10,377 | -€3,771 | -26.7% |
| Income taxes | 67/77 | €5,200 | €2,794 | -€2,406 | -46.3% |
| Profit (loss) for the period | 9904 | €8,947 | €7,583 | -€1,364 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,947 | €7,583 | -€1,364 | -15.2% |
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 14 October 2026 via checked.be.