CARDUSI: 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.
CARDUSI
Largest movements
- Cash +€37,670
up €37,670 (+47.8%), from €78,807 to €116,477
mainly Net result for the year (+€91,152) and Other debts (+€23,316)
- Tangible fixed assets -€15,157
down €15,157 (-6.3%), from €239,678 to €224,521
- Receivables within one year +€6,121
new in 2025: €6,121
- Reserves +€91,152
up €91,152 (+76.0%), from €120,000 to €211,152
- Profit (loss) carried forward -€62,118
no longer reported in 2025 (was €62,118)
- Other debts +€23,316
up €23,316 (+48.2%), from €48,380 to €71,696
- Current portion of long-term debt -€19,227
no longer reported in 2025 (was €19,227)
- Tax, wage and social debts -€3,908
down €3,908 (-75.8%), from €5,152 to €1,244
- Financial charges +€36,013
up €36,013 (+471.6%), from €7,637 to €43,650
- Taxes -€5,950
down €5,950 (-13.6%), from €43,846 to €37,896
- Gross operating margin -€3,273
down €3,273 (-1.7%), from €194,233 to €190,960
- Depreciation -€2,613
down €2,613 (-13.6%), from €19,227 to €16,614
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 | €351,929 | €380,501 | +€28,572 | +8.1% |
| Fixed assets | 21/28 | €239,678 | €224,521 | -€15,157 | -6.3% |
| Tangible fixed assets | 22/27 | €239,678 | €224,521 | -€15,157 | -6.3% |
| Land and buildings | 22 | €188,663 | €183,770 | -€4,893 | -2.6% |
| Plant, machinery and equipment | 23 | €37,147 | €30,652 | -€6,494 | -17.5% |
| Furniture and vehicles | 24 | €13,868 | €10,099 | -€3,769 | -27.2% |
| Current assets | 29/58 | €112,251 | €155,980 | +€43,729 | +39.0% |
| Amounts receivable within one year | 40/41 | - | €6,121 | +€6,121 | |
| Other amounts receivable | 41 | - | €6,121 | +€6,121 | |
| Cash at bank and in hand | 54/58 | €78,807 | €116,477 | +€37,670 | +47.8% |
| Deferred charges and accrued income | 490/1 | €33,445 | €33,383 | -€62 | -0.2% |
| Total equity and liabilities | 10/49 | €351,929 | €380,501 | +€28,572 | +8.1% |
| Equity | 10/15 | €275,118 | €304,152 | +€29,034 | +10.6% |
| Contributions | 10/11 | €93,000 | €93,000 | = | 0.0% |
| Reserves | 13 | €120,000 | €211,152 | +€91,152 | +76.0% |
| Distributable reserves | 133 | €120,000 | €211,152 | +€91,152 | +76.0% |
| Profit (loss) carried forward | 14 | €62,118 | - | -€62,118 | |
| Amounts payable | 17/49 | €76,811 | €76,350 | -€462 | -0.6% |
| Amounts payable within one year | 42/48 | €76,811 | €76,350 | -€462 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €19,227 | - | -€19,227 | |
| Trade debts | 44 | €4,052 | €3,409 | -€643 | -15.9% |
| Suppliers | 440/4 | €4,052 | €3,409 | -€643 | -15.9% |
| Taxes, remuneration and social security | 45 | €5,152 | €1,244 | -€3,908 | -75.8% |
| Taxes | 450/3 | €5,152 | €1,244 | -€3,908 | -75.8% |
| Other amounts payable | 47/48 | €48,380 | €71,696 | +€23,316 | +48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,227 | €16,614 | -€2,613 | -13.6% |
| Other operating charges | 640/8 | €1,474 | €1,705 | +€231 | +15.7% |
| Gross operating margin | 9900 | €194,233 | €190,960 | -€3,273 | -1.7% |
| Operating profit (loss) | 9901 | €173,532 | €172,641 | -€891 | -0.5% |
| Financial income | 75/76B | €69 | €57 | -€12 | -17.1% |
| Recurring financial income | 75 | €69 | €57 | -€12 | -17.1% |
| Financial charges | 65/66B | €7,637 | €43,650 | +€36,013 | +471.6% |
| Recurring financial charges | 65 | €7,637 | €43,650 | +€36,013 | +471.6% |
| Profit (loss) for the period before taxes | 9903 | €165,964 | €129,048 | -€36,916 | -22.2% |
| Income taxes | 67/77 | €43,846 | €37,896 | -€5,950 | -13.6% |
| Profit (loss) for the period | 9904 | €122,118 | €91,152 | -€30,966 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €122,118 | €91,152 | -€30,966 | -25.4% |
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.