CARDYN V: what changed
Two financial 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.
CARDYN V
Largest movements
- Receivables within one year -€763,020
down €763,020 (-64.7%), from €1.2m to €416,604
- Current investments +€454,422
up €454,422 (+44.2%), from €1.0m to €1.5m
- Cash +€26,030
up €26,030 (+36.9%), from €70,580 to €96,609
mainly Receivables within one year (+€763,020) and Net result for the year (+€648,832)
- Debts after one year -€980,000
down €980,000 (-100%), from €980,000 to €0
- Reserves +€648,832
up €648,832 (+43.9%), from €1.5m to €2.1m
- Tax, wage and social debts +€52,810
up €52,810 (+1,658%), from €3,184 to €55,994
of which Taxes: +€52,706
- Financial charges -€2.3m
down €2.3m (-100.0%), from €2.3m to €1,124
of which Non-recurring financial charges: -€2.3m
- Financial income -€2.0m
down €2.0m (-76.2%), from €2.7m to €631,051
- Gross operating margin -€104,637
down €104,637 (-40.8%), from €256,589 to €151,952
- Taxes -€5,627
down €5,627 (-5.3%), from €106,541 to €100,914
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.
Derived cash bridge
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 | €2,490,554 | €2,215,485 | -€275,069 | -11.0% |
| Fixed assets | 21/28 | €204,972 | €205,623 | +€651 | +0.3% |
| Tangible fixed assets | 22/27 | €4,972 | €5,623 | +€651 | +13.1% |
| Plant, machinery and equipment | 23 | - | €2,577 | +€2,577 | |
| Furniture and vehicles | 24 | €4,972 | €3,046 | -€1,926 | -38.7% |
| Financial fixed assets | 28 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €2,285,582 | €2,009,862 | -€275,720 | -12.1% |
| Amounts receivable within one year | 40/41 | €1,179,623 | €416,604 | -€763,020 | -64.7% |
| Other amounts receivable | 41 | €1,179,623 | €416,604 | -€763,020 | -64.7% |
| Current investments | 50/53 | €1,027,461 | €1,481,883 | +€454,422 | +44.2% |
| Cash at bank and in hand | 54/58 | €70,580 | €96,609 | +€26,030 | +36.9% |
| Deferred charges and accrued income | 490/1 | €7,918 | €14,766 | +€6,848 | +86.5% |
| Total equity and liabilities | 10/49 | €2,490,554 | €2,215,485 | -€275,069 | -11.0% |
| Equity | 10/15 | €1,482,834 | €2,131,666 | +€648,832 | +43.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,476,634 | €2,125,466 | +€648,832 | +43.9% |
| Distributable reserves | 133 | €1,476,634 | €2,125,466 | +€648,832 | +43.9% |
| Amounts payable | 17/49 | €1,007,720 | €83,819 | -€923,901 | -91.7% |
| Amounts payable after more than one year | 17 | €980,000 | €0 | -€980,000 | -100% |
| Financial debts | 170/4 | €980,000 | €0 | -€980,000 | -100% |
| Amounts payable within one year | 42/48 | €6,624 | €56,209 | +€49,586 | +749% |
| Trade debts | 44 | €3,231 | €41 | -€3,190 | -98.7% |
| Suppliers | 440/4 | €3,231 | €41 | -€3,190 | -98.7% |
| Taxes, remuneration and social security | 45 | €3,184 | €55,994 | +€52,810 | +1,658% |
| Taxes | 450/3 | €0 | €52,706 | +€52,706 | |
| Remuneration and social security | 454/9 | €3,184 | €3,289 | +€104 | +3.3% |
| Other amounts payable | 47/48 | €208 | €174 | -€34 | -16.3% |
| Accrued charges and deferred income | 492/3 | €21,097 | €27,610 | +€6,513 | +30.9% |
| Remuneration, social security and pensions | 62 | €26,876 | €28,728 | +€1,852 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,968 | €2,039 | +€71 | +3.6% |
| Other operating charges | 640/8 | €1,268 | €1,366 | +€98 | +7.8% |
| Non-recurring operating charges | 66A | €164 | €0 | -€164 | -100% |
| Gross operating margin | 9900 | €256,589 | €151,952 | -€104,637 | -40.8% |
| Operating profit (loss) | 9901 | €226,314 | €119,819 | -€106,495 | -47.1% |
| Financial income | 75/76B | €2,654,212 | €631,051 | -€2.0m | -76.2% |
| Recurring financial income | 75 | €2,654,212 | €631,051 | -€2.0m | -76.2% |
| Financial charges | 65/66B | €2,280,473 | €1,124 | -€2.3m | -100.0% |
| Recurring financial charges | 65 | €473 | €1,124 | +€652 | +138% |
| Non-recurring financial charges | 66B | €2,280,000 | €0 | -€2.3m | -100% |
| Profit (loss) for the period before taxes | 9903 | €600,053 | €749,745 | +€149,692 | +24.9% |
| Income taxes | 67/77 | €106,541 | €100,914 | -€5,627 | -5.3% |
| Profit (loss) for the period | 9904 | €493,512 | €648,832 | +€155,319 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €493,512 | €648,832 | +€155,319 | +31.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.