KARDI: 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.
KARDI
Largest movements
- Tangible fixed assets -€10,110
down €10,110 (-2.8%), from €364,895 to €354,785
- Profit (loss) carried forward -€27,205
down €27,205 (-3.8%), from -€715,525 to -€742,731
- Debts after one year +€12,827
up €12,827 (+2.1%), from €623,601 to €636,428
- Revaluation surpluses -€9,697
down €9,697 (-3.2%), from €300,758 to €291,061
- Reserves +€9,697
up €9,697 (+8.3%), from €116,366 to €126,063
- Current portion of long-term debt +€4,095
up €4,095 (+16.4%), from €24,919 to €29,014
- Gross operating margin -€1,983
down €1,983 (-35.8%), from -€5,543 to -€7,527
- Financial charges -€923
down €923 (-21.5%), from €4,304 to €3,381
- Other operating charges +€251
up €251 (+4.2%), from €5,944 to €6,196
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 | €368,720 | €360,161 | -€8,559 | -2.3% |
| Fixed assets | 21/28 | €364,895 | €354,785 | -€10,110 | -2.8% |
| Tangible fixed assets | 22/27 | €364,895 | €354,785 | -€10,110 | -2.8% |
| Land and buildings | 22 | €364,895 | €354,785 | -€10,110 | -2.8% |
| Current assets | 29/58 | €3,825 | €5,376 | +€1,552 | +40.6% |
| Amounts receivable within one year | 40/41 | €2,662 | €4,207 | +€1,545 | +58.0% |
| Trade receivables | 40 | - | €4,207 | +€4,207 | |
| Other amounts receivable | 41 | €2,662 | - | -€2,662 | |
| Cash at bank and in hand | 54/58 | €553 | €541 | -€12 | -2.2% |
| Deferred charges and accrued income | 490/1 | €609 | €628 | +€19 | +3.1% |
| Total equity and liabilities | 10/49 | €368,720 | €360,161 | -€8,559 | -2.3% |
| Equity | 10/15 | -€279,801 | -€307,006 | -€27,205 | -9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €300,758 | €291,061 | -€9,697 | -3.2% |
| Reserves | 13 | €116,366 | €126,063 | +€9,697 | +8.3% |
| Distributable reserves | 133 | €116,366 | €126,063 | +€9,697 | +8.3% |
| Profit (loss) carried forward | 14 | -€715,525 | -€742,731 | -€27,205 | -3.8% |
| Amounts payable | 17/49 | €648,521 | €667,167 | +€18,647 | +2.9% |
| Amounts payable after more than one year | 17 | €623,601 | €636,428 | +€12,827 | +2.1% |
| Financial debts | 170/4 | €623,601 | €636,428 | +€12,827 | +2.1% |
| Amounts payable within one year | 42/48 | €24,919 | €30,739 | +€5,820 | +23.4% |
| Current portion of amounts payable after more than one year | 42 | €24,919 | €29,014 | +€4,095 | +16.4% |
| Trade debts | 44 | - | €1,725 | +€1,725 | |
| Suppliers | 440/4 | - | €1,725 | +€1,725 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,110 | €10,110 | = | 0.0% |
| Other operating charges | 640/8 | €5,944 | €6,196 | +€251 | +4.2% |
| Gross operating margin | 9900 | -€5,543 | -€7,527 | -€1,983 | -35.8% |
| Operating profit (loss) | 9901 | -€21,598 | -€23,833 | -€2,235 | -10.3% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €4,304 | €3,381 | -€923 | -21.5% |
| Recurring financial charges | 65 | €4,304 | €3,381 | -€923 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | -€25,902 | -€27,205 | -€1,303 | -5.0% |
| Profit (loss) for the period | 9904 | -€25,902 | -€27,205 | -€1,303 | -5.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,902 | -€27,205 | -€1,303 | -5.0% |
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 3 October 2026 via checked.be.