Dr. Line Cardoen: what changed
What changed
Dr. Line Cardoen
filed annual accounts (NBB)
Net result for the year
€268,642
2024 · €200,113+€68,529
Equity
€947,633
2024 · €726,784+€220,849
Cash
€108,785
2024 · €27,989+€80,796
Balance sheet total
€1.1m
2024 · €952,493+€113,356
Largest movements
Assets
- Cash +€80,796
up €80,796 (+289%), from €27,989 to €108,785
mainly Net result for the year (+€268,642) and Tax, wage and social debts (+€36,262)
- Receivables within one year +€30,046
up €30,046 (+3,673%), from €818 to €30,864
Equity and liabilities
- Reserves +€220,849
up €220,849 (+30.9%), from €714,384 to €935,233
of which Distributable reserves: +€220,849
- Other debts -€136,682
no longer reported in 2025 (was €136,682)
- Tax, wage and social debts +€36,262
up €36,262 (+60.3%), from €60,146 to €96,408
Income statement
- Gross operating margin +€63,235
up €63,235 (+19.5%), from €323,505 to €386,741
- Taxes +€16,572
up €16,572 (+14.2%), from €116,989 to €133,561
- Financial charges -€12,094
down €12,094 (-92.6%), from €13,055 to €961
- Financial income +€10,206
up €10,206 (+97.1%), from €10,513 to €20,719
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.
Result 2024
€200,113
Gross operating margin
+€63,235
Depreciation
-€183
Other operating charges
-€251
Financial income
+€10,206
Financial charges
+€12,094
Taxes
-€16,572
Result 2025
€268,642
raises the resultlowers the result
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.
From operations
+€132,967
Investment
-€4,245
Financing
-€47,926
Cash 2024
€27,989
From operations (derived)
+€132,967
Net result for the year
+€268,642
Depreciation
+€3,513
Receivables within one year
-€30,046
Deferred charges and accrued income
-€1,782
Trade debts
+€1,162
Tax, wage and social debts
+€36,262
Other debts
-€136,682
Accrued charges and deferred income
-€8,102
Investment (derived)
-€4,245
Investment in fixed assets (net)
-€1,449
Current investments
-€2,796
Financing
-€47,926
Short-term financial debts
-€132
Contributions, distributions and other
-€47,793
Cash 2025
€108,785
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €952,493 | €1,065,848 | +€113,356 | +11.9% |
| Fixed assets | 21/28 | €29,769 | €27,704 | -€2,064 | -6.9% |
| Tangible fixed assets | 22/27 | €29,769 | €27,704 | -€2,064 | -6.9% |
| Plant, machinery and equipment | 23 | - | €1,266 | +€1,266 | |
| Other tangible fixed assets | 26 | €29,769 | €26,438 | -€3,331 | -11.2% |
| Current assets | 29/58 | €922,724 | €1,038,144 | +€115,420 | +12.5% |
| Amounts receivable within one year | 40/41 | €818 | €30,864 | +€30,046 | +3,673% |
| Other amounts receivable | 41 | €818 | €30,864 | +€30,046 | +3,673% |
| Current investments | 50/53 | €893,108 | €895,904 | +€2,796 | +0.3% |
| Cash at bank and in hand | 54/58 | €27,989 | €108,785 | +€80,796 | +289% |
| Deferred charges and accrued income | 490/1 | €809 | €2,591 | +€1,782 | +220% |
| Total equity and liabilities | 10/49 | €952,493 | €1,065,848 | +€113,356 | +11.9% |
| Equity | 10/15 | €726,784 | €947,633 | +€220,849 | +30.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €714,384 | €935,233 | +€220,849 | +30.9% |
| Tax-exempt reserves | 132 | €10,735 | €10,735 | = | 0.0% |
| Distributable reserves | 133 | €703,650 | €924,499 | +€220,849 | +31.4% |
| Amounts payable | 17/49 | €225,708 | €118,215 | -€107,493 | -47.6% |
| Amounts payable within one year | 42/48 | €217,606 | €118,215 | -€99,391 | -45.7% |
| Financial debts | 43 | €18,761 | €18,629 | -€132 | -0.7% |
| Other loans | 439 | €18,761 | €18,629 | -€132 | -0.7% |
| Trade debts | 44 | €2,017 | €3,179 | +€1,162 | +57.6% |
| Suppliers | 440/4 | €2,017 | €3,179 | +€1,162 | +57.6% |
| Taxes, remuneration and social security | 45 | €60,146 | €96,408 | +€36,262 | +60.3% |
| Taxes | 450/3 | €60,146 | €96,408 | +€36,262 | +60.3% |
| Other amounts payable | 47/48 | €136,682 | - | -€136,682 | |
| Accrued charges and deferred income | 492/3 | €8,102 | - | -€8,102 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,331 | €3,513 | +€183 | +5.5% |
| Other operating charges | 640/8 | €532 | €782 | +€251 | +47.2% |
| Gross operating margin | 9900 | €323,505 | €386,741 | +€63,235 | +19.5% |
| Operating profit (loss) | 9901 | €319,643 | €382,445 | +€62,802 | +19.6% |
| Financial income | 75/76B | €10,513 | €20,719 | +€10,206 | +97.1% |
| Recurring financial income | 75 | €10,513 | €20,719 | +€10,206 | +97.1% |
| Financial charges | 65/66B | €13,055 | €961 | -€12,094 | -92.6% |
| Recurring financial charges | 65 | €13,055 | €961 | -€12,094 | -92.6% |
| Profit (loss) for the period before taxes | 9903 | €317,101 | €402,203 | +€85,102 | +26.8% |
| Income taxes | 67/77 | €116,989 | €133,561 | +€16,572 | +14.2% |
| Profit (loss) for the period | 9904 | €200,113 | €268,642 | +€68,529 | +34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €200,113 | €268,642 | +€68,529 | +34.2% |
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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 3 November 2026 via checked.be.