CARDIOX: what changed
Two fiscal 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.
CARDIOX
Largest movements
- Cash +€163,224
up €163,224 (+88.5%), from €184,487 to €347,710
mainly Net result for the year (+€143,281) and Other debts (+€85,000)
- Tangible fixed assets -€27,493
down €27,493 (-30.8%), from €89,130 to €61,638
of which Furniture and vehicles: -€23,492
- Other debts +€85,000
new in 2025: €85,000
- Reserves +€40,000
up €40,000 (+37.8%), from €105,775 to €145,775
of which Distributable reserves: +€40,000
- Tax, wage and social debts +€28,697
up €28,697 (+83.6%), from €34,330 to €63,027
of which Taxes: +€28,697
- Debts after one year -€14,485
down €14,485 (-100.0%), from €14,485 to €0
- Trade debts -€6,040
down €6,040 (-88.2%), from €6,851 to €811
- Gross operating margin +€59,256
up €59,256 (+36.8%), from €160,907 to €220,163
- Taxes +€19,478
up €19,478 (+76.1%), from €25,605 to €45,083
- Depreciation +€3,281
up €3,281 (+11.8%), from €27,910 to €31,192
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.
Cash bridge derived
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 | €360,537 | €496,686 | +€136,149 | +37.8% |
| Fixed assets | 21/28 | €89,130 | €61,638 | -€27,493 | -30.8% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €89,130 | €61,638 | -€27,493 | -30.8% |
| Plant, machinery and equipment | 23 | €8,968 | €5,835 | -€3,133 | -34.9% |
| Furniture and vehicles | 24 | €78,270 | €54,779 | -€23,492 | -30.0% |
| Other tangible fixed assets | 26 | €1,892 | €1,024 | -€868 | -45.9% |
| Current assets | 29/58 | €271,407 | €435,048 | +€163,642 | +60.3% |
| Amounts receivable within one year | 40/41 | €31,098 | €32,343 | +€1,245 | +4.0% |
| Trade receivables | 40 | €2,420 | €0 | -€2,420 | -100.0% |
| Other amounts receivable | 41 | €28,678 | €32,343 | +€3,665 | +12.8% |
| Cash at bank and in hand | 54/58 | €184,487 | €347,710 | +€163,224 | +88.5% |
| Deferred charges and accrued income | 490/1 | €55,822 | €54,995 | -€827 | -1.5% |
| Total equity and liabilities | 10/49 | €360,537 | €496,686 | +€136,149 | +37.8% |
| Equity | 10/15 | €289,579 | €332,860 | +€43,281 | +14.9% |
| Contributions | 10/11 | €13,900 | €13,900 | = | 0.0% |
| Reserves | 13 | €105,775 | €145,775 | +€40,000 | +37.8% |
| Non-distributable reserves | 130/1 | €1,126 | €1,126 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €1,126 | +€1,126 | |
| Other | 1319 | €1,126 | - | -€1,126 | |
| Distributable reserves | 133 | €104,649 | €144,649 | +€40,000 | +38.2% |
| Profit (loss) carried forward | 14 | €169,905 | €173,186 | +€3,281 | +1.9% |
| Amounts payable | 17/49 | €70,958 | €163,826 | +€92,868 | +130.9% |
| Amounts payable after more than one year | 17 | €14,485 | €0 | -€14,485 | -100.0% |
| Financial debts | 170/4 | €14,485 | €0 | -€14,485 | -100.0% |
| Amounts payable within one year | 42/48 | €56,473 | €163,323 | +€106,851 | +189.2% |
| Current portion of amounts payable after more than one year | 42 | €15,291 | €14,485 | -€807 | -5.3% |
| Trade debts | 44 | €6,851 | €811 | -€6,040 | -88.2% |
| Suppliers | 440/4 | €6,851 | €811 | -€6,040 | -88.2% |
| Taxes, remuneration and social security | 45 | €34,330 | €63,027 | +€28,697 | +83.6% |
| Taxes | 450/3 | €34,330 | €63,027 | +€28,697 | +83.6% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | - | €85,000 | +€85,000 | |
| Accrued charges and deferred income | 492/3 | - | €503 | +€503 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,910 | €31,192 | +€3,281 | +11.8% |
| Other operating charges | 640/8 | €193 | €1,283 | +€1,090 | +565.0% |
| Gross operating margin | 9900 | €160,907 | €220,163 | +€59,256 | +36.8% |
| Operating profit (loss) | 9901 | €132,803 | €187,688 | +€54,885 | +41.3% |
| Financial income | 75/76B | €2,326 | €1,699 | -€627 | -27.0% |
| Recurring financial income | 75 | €2,326 | €1,699 | -€627 | -27.0% |
| Financial charges | 65/66B | €2,126 | €1,024 | -€1,102 | -51.8% |
| Recurring financial charges | 65 | €2,126 | €1,024 | -€1,102 | -51.8% |
| Profit (loss) for the period before taxes | 9903 | €133,004 | €188,364 | +€55,360 | +41.6% |
| Income taxes | 67/77 | €25,605 | €45,083 | +€19,478 | +76.1% |
| Profit (loss) for the period | 9904 | €107,399 | €143,281 | +€35,882 | +33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €107,399 | €143,281 | +€35,882 | +33.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.