E. CARDOEN: 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.
E. CARDOEN
Largest movements
- Cash -€126,203
down €126,203 (-42.5%), from €296,724 to €170,521
mainly Other debts (-€116,097) and Net result for the year (-€16,989)
- Receivables within one year -€14,916
down €14,916 (-27.6%), from €54,016 to €39,100
of which Other amounts receivable: -€14,227
- Other debts -€116,097
down €116,097 (-69.4%), from €167,182 to €51,086
- Profit (loss) carried forward -€16,989
new in 2024: -€16,989
- Tax, wage and social debts -€12,624
down €12,624 (-96.5%), from €13,076 to €452
- Trade debts +€4,922
up €4,922 (+32.6%), from €15,094 to €20,016
- Gross operating margin -€405,233
down €405,233, from €393,396 to -€11,837
- Taxes -€96,820
down €96,820 (-99.7%), from €97,077 to €257
- Financial charges -€8,328
down €8,328 (-85.8%), from €9,701 to €1,373
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €428,066 | €286,953 | -€141,113 | -33.0% |
| Fixed assets | 21/28 | €645 | €645 | = | 0.0% |
| Financial fixed assets | 28 | €645 | €645 | = | 0.0% |
| Current assets | 29/58 | €427,421 | €286,308 | -€141,113 | -33.0% |
| Stocks and contracts in progress | 3 | €76,251 | €76,251 | = | 0.0% |
| Contracts in progress | 37 | €76,251 | €76,251 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €54,016 | €39,100 | -€14,916 | -27.6% |
| Trade receivables | 40 | €24,726 | €24,037 | -€689 | -2.8% |
| Other amounts receivable | 41 | €29,290 | €15,063 | -€14,227 | -48.6% |
| Cash at bank and in hand | 54/58 | €296,724 | €170,521 | -€126,203 | -42.5% |
| Deferred charges and accrued income | 490/1 | €430 | €436 | +€5 | +1.3% |
| Total equity and liabilities | 10/49 | €428,066 | €286,953 | -€141,113 | -33.0% |
| Equity | 10/15 | €232,388 | €215,399 | -€16,989 | -7.3% |
| Contributions | 10/11 | €101,629 | €101,629 | = | 0.0% |
| Capital | 10 | €101,629 | €101,629 | = | 0.0% |
| Issued capital | 100 | €101,629 | €101,629 | = | 0.0% |
| Reserves | 13 | €130,759 | €130,759 | = | 0.0% |
| Distributable reserves | 133 | €130,759 | €130,759 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€16,989 | -€16,989 | |
| Amounts payable | 17/49 | €195,678 | €71,554 | -€124,124 | -63.4% |
| Amounts payable within one year | 42/48 | €195,352 | €71,554 | -€123,799 | -63.4% |
| Trade debts | 44 | €15,094 | €20,016 | +€4,922 | +32.6% |
| Suppliers | 440/4 | €15,094 | €20,016 | +€4,922 | +32.6% |
| Taxes, remuneration and social security | 45 | €13,076 | €452 | -€12,624 | -96.5% |
| Taxes | 450/3 | €13,076 | €452 | -€12,624 | -96.5% |
| Other amounts payable | 47/48 | €167,182 | €51,086 | -€116,097 | -69.4% |
| Accrued charges and deferred income | 492/3 | €326 | €0 | -€326 | -100% |
| Other operating charges | 640/8 | €2,739 | €3,523 | +€784 | +28.6% |
| Gross operating margin | 9900 | €393,396 | -€11,837 | -€405,233 | |
| Operating profit (loss) | 9901 | €390,657 | -€15,360 | -€406,017 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €9,701 | €1,373 | -€8,328 | -85.8% |
| Recurring financial charges | 65 | €9,701 | €1,373 | -€8,328 | -85.8% |
| Profit (loss) for the period before taxes | 9903 | €380,956 | -€16,733 | -€397,688 | |
| Income taxes | 67/77 | €97,077 | €257 | -€96,820 | -99.7% |
| Profit (loss) for the period | 9904 | €283,879 | -€16,989 | -€300,868 | |
| Profit (loss) for the period to be appropriated | 9905 | €283,879 | -€16,989 | -€300,868 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.