GH Cardiologist: 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.
GH Cardiologist
Largest movements
- Receivables after one year -€157,769
down €157,769 (-81.4%), from €193,717 to €35,948
- Cash +€14,140
up €14,140 (+86.8%), from €16,289 to €30,429
mainly Net result for the year (+€158,844) and Receivables after one year (+€157,769)
- Tangible fixed assets -€11,801
down €11,801 (-18.0%), from €65,623 to €53,822
of which Land and buildings: -€11,904
- Receivables within one year -€3,351
down €3,351 (-9.4%), from €35,536 to €32,185
- Profit (loss) carried forward -€224,809
no longer reported in 2025 (was €224,809)
- Other debts +€58,630
up €58,630 (+5,766%), from €1,017 to €59,647
- Current portion of long-term debt +€12,988
up €12,988 (+188%), from €6,914 to €19,902
- Debts after one year -€7,214
down €7,214 (-22.9%), from €31,482 to €24,269
- Tax, wage and social debts +€5,492
up €5,492 (+12.5%), from €43,911 to €49,403
- Gross operating margin +€143,162
up €143,162 (+162%), from €88,594 to €231,756
- Taxes +€31,448
up €31,448 (+166%), from €18,902 to €50,350
- Depreciation +€11,555
up €11,555 (+542%), from €2,133 to €13,689
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 | €313,029 | €157,309 | -€155,720 | -49.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €65,623 | €53,822 | -€11,801 | -18.0% |
| Tangible fixed assets | 22/27 | €65,623 | €53,822 | -€11,801 | -18.0% |
| Land and buildings | 22 | €41,829 | €29,925 | -€11,904 | -28.5% |
| Plant, machinery and equipment | 23 | €17,512 | €20,412 | +€2,900 | +16.6% |
| Furniture and vehicles | 24 | €6,282 | €3,484 | -€2,798 | -44.5% |
| Current assets | 29/58 | €247,406 | €103,487 | -€143,919 | -58.2% |
| Amounts receivable after more than one year | 29 | €193,717 | €35,948 | -€157,769 | -81.4% |
| Trade receivables | 290 | €193,717 | €35,948 | -€157,769 | -81.4% |
| Amounts receivable within one year | 40/41 | €35,536 | €32,185 | -€3,351 | -9.4% |
| Other amounts receivable | 41 | €35,536 | €32,185 | -€3,351 | -9.4% |
| Cash at bank and in hand | 54/58 | €16,289 | €30,429 | +€14,140 | +86.8% |
| Deferred charges and accrued income | 490/1 | €1,864 | €4,925 | +€3,061 | +164% |
| Total equity and liabilities | 10/49 | €313,029 | €157,309 | -€155,720 | -49.7% |
| Equity | 10/15 | €226,309 | €1,500 | -€224,809 | -99.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €224,809 | - | -€224,809 | |
| Amounts payable | 17/49 | €86,720 | €155,809 | +€69,089 | +79.7% |
| Amounts payable after more than one year | 17 | €31,482 | €24,269 | -€7,214 | -22.9% |
| Financial debts | 170/4 | €31,482 | €24,269 | -€7,214 | -22.9% |
| Amounts payable within one year | 42/48 | €55,238 | €131,540 | +€76,302 | +138% |
| Current portion of amounts payable after more than one year | 42 | €6,914 | €19,902 | +€12,988 | +188% |
| Trade debts | 44 | €3,396 | €2,588 | -€808 | -23.8% |
| Suppliers | 440/4 | €3,396 | €2,588 | -€808 | -23.8% |
| Taxes, remuneration and social security | 45 | €43,911 | €49,403 | +€5,492 | +12.5% |
| Taxes | 450/3 | €43,911 | €49,403 | +€5,492 | +12.5% |
| Other amounts payable | 47/48 | €1,017 | €59,647 | +€58,630 | +5,766% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,133 | €13,689 | +€11,555 | +542% |
| Other operating charges | 640/8 | €386 | €430 | +€44 | +11.3% |
| Non-recurring operating charges | 66A | - | €8,311 | +€8,311 | |
| Gross operating margin | 9900 | €88,594 | €231,756 | +€143,162 | +162% |
| Operating profit (loss) | 9901 | €86,075 | €209,326 | +€123,251 | +143% |
| Financial income | 75/76B | €4,520 | €3,193 | -€1,327 | -29.4% |
| Recurring financial income | 75 | €4,520 | €3,193 | -€1,327 | -29.4% |
| Financial charges | 65/66B | €2,719 | €3,325 | +€606 | +22.3% |
| Recurring financial charges | 65 | €2,719 | €3,325 | +€606 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | €87,876 | €209,194 | +€121,318 | +138% |
| Income taxes | 67/77 | €18,902 | €50,350 | +€31,448 | +166% |
| Profit (loss) for the period | 9904 | €68,974 | €158,844 | +€89,870 | +130% |
| Profit (loss) for the period to be appropriated | 9905 | €68,974 | €158,844 | +€89,870 | +130% |
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 15 October 2026 via checked.be.