CARDOEN GEERT: what changed
CARDOEN GEERT
Largest movements
- Tangible fixed assets -€19,088
down €19,088 (-7.3%), from €262,149 to €243,061
of which Plant, machinery and equipment: -€11,990
- Cash +€5,365
up €5,365 (+194%), from €2,759 to €8,124
mainly Net result for the year (+€32,698) and Depreciation (+€20,022)
- Debts after one year -€22,196
down €22,196 (-23.8%), from €93,284 to €71,088
- Reserves +€11,038
up €11,038 (+9.1%), from €121,763 to €132,801
- Current portion of long-term debt -€8,662
down €8,662 (-25.7%), from €33,681 to €25,019
- Other debts +€8,564
up €8,564 (+45.6%), from €18,779 to €27,343
- Trade debts -€3,625
down €3,625 (-59.1%), from €6,134 to €2,509
- Gross operating margin +€16,594
up €16,594 (+27.8%), from €59,622 to €76,216
- Taxes +€6,136
up €6,136 (+57.0%), from €10,759 to €16,895
- Depreciation -€1,099
down €1,099 (-5.2%), from €21,121 to €20,022
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 | €293,329 | €276,712 | -€16,617 | -5.7% |
| Fixed assets | 21/28 | €262,149 | €243,061 | -€19,088 | -7.3% |
| Tangible fixed assets | 22/27 | €262,149 | €243,061 | -€19,088 | -7.3% |
| Land and buildings | 22 | €246,033 | €239,085 | -€6,948 | -2.8% |
| Plant, machinery and equipment | 23 | €15,962 | €3,972 | -€11,990 | -75.1% |
| Furniture and vehicles | 24 | €154 | €4 | -€150 | -97.4% |
| Current assets | 29/58 | €31,180 | €33,651 | +€2,471 | +7.9% |
| Amounts receivable within one year | 40/41 | €25,630 | €23,332 | -€2,298 | -9.0% |
| Trade receivables | 40 | €17,968 | €22,506 | +€4,538 | +25.3% |
| Other amounts receivable | 41 | €7,662 | €826 | -€6,836 | -89.2% |
| Cash at bank and in hand | 54/58 | €2,759 | €8,124 | +€5,365 | +194% |
| Deferred charges and accrued income | 490/1 | €2,791 | €2,195 | -€596 | -21.4% |
| Total equity and liabilities | 10/49 | €293,329 | €276,712 | -€16,617 | -5.7% |
| Equity | 10/15 | €127,963 | €139,001 | +€11,038 | +8.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €121,763 | €132,801 | +€11,038 | +9.1% |
| Distributable reserves | 133 | €121,763 | €132,801 | +€11,038 | +9.1% |
| Amounts payable | 17/49 | €165,366 | €137,711 | -€27,655 | -16.7% |
| Amounts payable after more than one year | 17 | €93,284 | €71,088 | -€22,196 | -23.8% |
| Financial debts | 170/4 | €93,284 | €71,088 | -€22,196 | -23.8% |
| Amounts payable within one year | 42/48 | €72,082 | €66,623 | -€5,459 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €33,681 | €25,019 | -€8,662 | -25.7% |
| Financial debts | 43 | €3,392 | - | -€3,392 | |
| Credit institutions | 430/8 | €3,392 | - | -€3,392 | |
| Trade debts | 44 | €6,134 | €2,509 | -€3,625 | -59.1% |
| Suppliers | 440/4 | €6,134 | €2,509 | -€3,625 | -59.1% |
| Taxes, remuneration and social security | 45 | €10,096 | €11,752 | +€1,656 | +16.4% |
| Taxes | 450/3 | €10,096 | €11,752 | +€1,656 | +16.4% |
| Other amounts payable | 47/48 | €18,779 | €27,343 | +€8,564 | +45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,121 | €20,022 | -€1,099 | -5.2% |
| Other operating charges | 640/8 | €2,453 | €2,626 | +€173 | +7.1% |
| Gross operating margin | 9900 | €59,622 | €76,216 | +€16,594 | +27.8% |
| Operating profit (loss) | 9901 | €36,048 | €53,568 | +€17,520 | +48.6% |
| Financial income | 75/76B | €1 | €167 | +€166 | +16,600% |
| Recurring financial income | 75 | €1 | €167 | +€166 | +16,600% |
| Financial charges | 65/66B | €4,642 | €4,142 | -€500 | -10.8% |
| Recurring financial charges | 65 | €4,642 | €4,142 | -€500 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €31,407 | €49,593 | +€18,186 | +57.9% |
| Income taxes | 67/77 | €10,759 | €16,895 | +€6,136 | +57.0% |
| Profit (loss) for the period | 9904 | €20,648 | €32,698 | +€12,050 | +58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,648 | €32,698 | +€12,050 | +58.4% |
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 6 November 2026 via checked.be.