KD Cardio: 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.
KD Cardio
Largest movements
- Cash -€237,994
down €237,994 (-61.6%), from €386,517 to €148,523
mainly Contributions, distributions and other (-€484,117) and Other debts (-€236,589)
- Receivables after one year -€25,763
no longer reported in 2025 (was €25,763)
- Tangible fixed assets -€25,375
down €25,375 (-37.3%), from €67,974 to €42,599
of which Furniture and vehicles: -€20,344
- Other debts -€236,589
down €236,589 (-70.6%), from €335,348 to €98,759
- Tax, wage and social debts -€33,000
down €33,000 (-26.4%), from €125,000 to €92,000
- Debts after one year -€16,992
no longer reported in 2025 (was €16,992)
- Gross operating margin +€204,187
up €204,187 (+43.1%), from €473,390 to €677,577
- Taxes +€61,432
up €61,432 (+59.4%), from €103,457 to €164,889
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 | €481,253 | €193,255 | -€287,998 | -59.8% |
| Fixed assets | 21/28 | €68,974 | €43,599 | -€25,375 | -36.8% |
| Tangible fixed assets | 22/27 | €67,974 | €42,599 | -€25,375 | -37.3% |
| Plant, machinery and equipment | 23 | €38,535 | €33,505 | -€5,031 | -13.1% |
| Furniture and vehicles | 24 | €29,439 | €9,094 | -€20,344 | -69.1% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €412,279 | €149,656 | -€262,623 | -63.7% |
| Amounts receivable after more than one year | 29 | €25,763 | - | -€25,763 | |
| Other amounts receivable | 291 | €25,763 | - | -€25,763 | |
| Amounts receivable within one year | 40/41 | - | €1,133 | +€1,133 | |
| Trade receivables | 40 | - | €1,133 | +€1,133 | |
| Cash at bank and in hand | 54/58 | €386,517 | €148,523 | -€237,994 | -61.6% |
| Total equity and liabilities | 10/49 | €481,253 | €193,255 | -€287,998 | -59.8% |
| Equity | 10/15 | €2,000 | €2,000 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable | 17/49 | €479,253 | €191,255 | -€287,998 | -60.1% |
| Amounts payable after more than one year | 17 | €16,992 | - | -€16,992 | |
| Financial debts | 170/4 | €16,992 | - | -€16,992 | |
| Amounts payable within one year | 42/48 | €462,262 | €191,255 | -€271,006 | -58.6% |
| Trade debts | 44 | €1,914 | €497 | -€1,417 | -74.1% |
| Suppliers | 440/4 | €1,914 | €497 | -€1,417 | -74.1% |
| Taxes, remuneration and social security | 45 | €125,000 | €92,000 | -€33,000 | -26.4% |
| Taxes | 450/3 | €125,000 | €92,000 | -€33,000 | -26.4% |
| Other amounts payable | 47/48 | €335,348 | €98,759 | -€236,589 | -70.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,025 | €31,352 | -€3,673 | -10.5% |
| Other operating charges | 640/8 | €222 | - | -€222 | |
| Gross operating margin | 9900 | €473,390 | €677,577 | +€204,187 | +43.1% |
| Operating profit (loss) | 9901 | €438,143 | €646,225 | +€208,082 | +47.5% |
| Financial income | 75/76B | - | €4,034 | +€4,034 | |
| Recurring financial income | 75 | - | €4,034 | +€4,034 | |
| Financial charges | 65/66B | €1,180 | €1,253 | +€74 | +6.3% |
| Recurring financial charges | 65 | €1,180 | €1,253 | +€74 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €436,963 | €649,005 | +€212,042 | +48.5% |
| Income taxes | 67/77 | €103,457 | €164,889 | +€61,432 | +59.4% |
| Profit (loss) for the period | 9904 | €333,506 | €484,117 | +€150,611 | +45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €333,506 | €484,117 | +€150,611 | +45.2% |
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 16 October 2026 via checked.be.