CARDMEG: 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.
CARDMEG
Largest movements
- Tangible fixed assets +€290,780
up €290,780 (+211.9%), from €137,209 to €427,989
of which Land and buildings: +€238,681
- Cash -€37,628
down €37,628 (-28.7%), from €130,894 to €93,266
mainly Investment in fixed assets (net) (-€341,341) and Contributions, distributions and other (-€281,533)
- Deferred charges and accrued income +€21,468
up €21,468 (+43.0%), from €49,925 to €71,394
- Intangible fixed assets -€12,400
down €12,400 (-22.6%), from €54,767 to €42,367
- Debts after one year +€214,460
up €214,460 (+340.2%), from €63,044 to €277,504
- Other debts +€102,838
up €102,838 (+67.2%), from €152,941 to €255,779
- Profit (loss) carried forward -€81,533
no longer reported in 2025 (was €81,533)
- Trade debts +€18,039
up €18,039 (+1088.3%), from €1,658 to €19,696
- Depreciation +€32,906
up €32,906 (+109.5%), from €30,055 to €62,961
- Taxes -€17,292
down €17,292 (-23.2%), from €74,559 to €57,268
- Financial income -€11,243
down €11,243 (-94.4%), from €11,909 to €666
- Financial charges +€5,734
up €5,734 (+137.6%), from €4,167 to €9,901
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 | €382,267 | €639,904 | +€257,637 | +67.4% |
| Fixed assets | 21/28 | €191,975 | €470,356 | +€278,380 | +145.0% |
| Intangible fixed assets | 21 | €54,767 | €42,367 | -€12,400 | -22.6% |
| Tangible fixed assets | 22/27 | €137,209 | €427,989 | +€290,780 | +211.9% |
| Land and buildings | 22 | - | €238,681 | +€238,681 | |
| Plant, machinery and equipment | 23 | €62,665 | €125,988 | +€63,324 | +101.1% |
| Furniture and vehicles | 24 | €74,544 | €63,320 | -€11,225 | -15.1% |
| Current assets | 29/58 | €190,292 | €169,548 | -€20,743 | -10.9% |
| Amounts receivable within one year | 40/41 | €9,472 | €4,889 | -€4,584 | -48.4% |
| Other amounts receivable | 41 | €9,472 | €4,889 | -€4,584 | -48.4% |
| Cash at bank and in hand | 54/58 | €130,894 | €93,266 | -€37,628 | -28.7% |
| Deferred charges and accrued income | 490/1 | €49,925 | €71,394 | +€21,468 | +43.0% |
| Total equity and liabilities | 10/49 | €382,267 | €639,904 | +€257,637 | +67.4% |
| Equity | 10/15 | €86,533 | €5,000 | -€81,533 | -94.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Share premium | 1100/10 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,533 | - | -€81,533 | |
| Amounts payable | 17/49 | €295,734 | €634,904 | +€339,170 | +114.7% |
| Amounts payable after more than one year | 17 | €63,044 | €277,504 | +€214,460 | +340.2% |
| Financial debts | 170/4 | €63,044 | €277,504 | +€214,460 | +340.2% |
| Amounts payable within one year | 42/48 | €232,691 | €357,400 | +€124,709 | +53.6% |
| Current portion of amounts payable after more than one year | 42 | €73,569 | €75,134 | +€1,565 | +2.1% |
| Trade debts | 44 | €1,658 | €19,696 | +€18,039 | +1088.3% |
| Suppliers | 440/4 | €1,658 | €19,696 | +€18,039 | +1088.3% |
| Taxes, remuneration and social security | 45 | €4,523 | €6,791 | +€2,268 | +50.1% |
| Taxes | 450/3 | €4,523 | €6,791 | +€2,268 | +50.1% |
| Other amounts payable | 47/48 | €152,941 | €255,779 | +€102,838 | +67.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,055 | €62,961 | +€32,906 | +109.5% |
| Other operating charges | 640/8 | €3,893 | €5,066 | +€1,173 | +30.1% |
| Gross operating margin | 9900 | €335,239 | €334,530 | -€709 | -0.2% |
| Operating profit (loss) | 9901 | €301,291 | €266,503 | -€34,789 | -11.5% |
| Financial income | 75/76B | €11,909 | €666 | -€11,243 | -94.4% |
| Recurring financial income | 75 | €11,909 | €666 | -€11,243 | -94.4% |
| Financial charges | 65/66B | €4,167 | €9,901 | +€5,734 | +137.6% |
| Recurring financial charges | 65 | €4,167 | €9,901 | +€5,734 | +137.6% |
| Profit (loss) for the period before taxes | 9903 | €309,033 | €257,268 | -€51,766 | -16.8% |
| Income taxes | 67/77 | €74,559 | €57,268 | -€17,292 | -23.2% |
| Profit (loss) for the period | 9904 | €234,474 | €200,000 | -€34,474 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €234,474 | €200,000 | -€34,474 | -14.7% |
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 4 October 2026 via checked.be.