CARDON BART: 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.
CARDON BART
Largest movements
- Tangible fixed assets -€22,872
down €22,872 (-15.9%), from €144,008 to €121,136
- Cash +€12,636
up €12,636 (+41.1%), from €30,731 to €43,367
mainly Depreciation (+€22,872) and Receivables within one year (+€9,508)
- Receivables within one year -€9,508
down €9,508 (-14.7%), from €64,635 to €55,127
of which Trade receivables: -€11,492
- Debts after one year -€10,069
down €10,069 (-7.5%), from €135,057 to €124,988
- Current portion of long-term debt -€7,402
down €7,402 (-42.4%), from €17,471 to €10,069
- Other debts +€2,698
up €2,698 (+24.8%), from €10,857 to €13,555
- Gross operating margin +€9,234
up €9,234 (+51.6%), from €17,894 to €27,128
- Depreciation -€3,644
down €3,644 (-13.7%), from €26,516 to €22,872
- Financial charges -€427
down €427 (-9.0%), from €4,719 to €4,292
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 | €239,375 | €219,631 | -€19,743 | -8.2% |
| Fixed assets | 21/28 | €144,008 | €121,136 | -€22,872 | -15.9% |
| Tangible fixed assets | 22/27 | €144,008 | €121,136 | -€22,872 | -15.9% |
| Land and buildings | 22 | €113,073 | €103,650 | -€9,423 | -8.3% |
| Plant, machinery and equipment | 23 | €24,178 | €17,301 | -€6,876 | -28.4% |
| Furniture and vehicles | 24 | €6,757 | €185 | -€6,573 | -97.3% |
| Current assets | 29/58 | €95,366 | €98,495 | +€3,129 | +3.3% |
| Amounts receivable within one year | 40/41 | €64,635 | €55,127 | -€9,508 | -14.7% |
| Trade receivables | 40 | €64,449 | €52,957 | -€11,492 | -17.8% |
| Other amounts receivable | 41 | €186 | €2,170 | +€1,984 | +1065.6% |
| Cash at bank and in hand | 54/58 | €30,731 | €43,367 | +€12,636 | +41.1% |
| Total equity and liabilities | 10/49 | €239,375 | €219,631 | -€19,743 | -8.2% |
| Equity | 10/15 | €50,829 | €50,164 | -€665 | -1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,369 | €29,704 | -€665 | -2.2% |
| Amounts payable | 17/49 | €188,546 | €169,468 | -€19,078 | -10.1% |
| Amounts payable after more than one year | 17 | €135,057 | €124,988 | -€10,069 | -7.5% |
| Financial debts | 170/4 | €135,057 | €124,988 | -€10,069 | -7.5% |
| Amounts payable within one year | 42/48 | €53,489 | €44,480 | -€9,009 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | €17,471 | €10,069 | -€7,402 | -42.4% |
| Trade debts | 44 | €23,180 | €20,850 | -€2,330 | -10.1% |
| Suppliers | 440/4 | €23,180 | €20,850 | -€2,330 | -10.1% |
| Taxes, remuneration and social security | 45 | €1,980 | €6 | -€1,974 | -99.7% |
| Taxes | 450/3 | €1,980 | €6 | -€1,974 | -99.7% |
| Other amounts payable | 47/48 | €10,857 | €13,555 | +€2,698 | +24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,516 | €22,872 | -€3,644 | -13.7% |
| Other operating charges | 640/8 | €685 | €450 | -€235 | -34.2% |
| Gross operating margin | 9900 | €17,894 | €27,128 | +€9,234 | +51.6% |
| Operating profit (loss) | 9901 | -€9,307 | €3,806 | +€13,113 | |
| Financial income | 75/76B | €109 | €288 | +€179 | +164.9% |
| Recurring financial income | 75 | €109 | €288 | +€179 | +164.9% |
| Financial charges | 65/66B | €4,719 | €4,292 | -€427 | -9.0% |
| Recurring financial charges | 65 | €4,719 | €4,292 | -€427 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,917 | -€199 | +€13,719 | +98.6% |
| Income taxes | 67/77 | €444 | €467 | +€23 | +5.2% |
| Profit (loss) for the period | 9904 | -€14,361 | -€665 | +€13,696 | +95.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,361 | -€665 | +€13,696 | +95.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.