Bastien CAPEL: 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.
Bastien CAPEL
Largest movements
- Cash -€14,005
down €14,005 (-69.6%), from €20,132 to €6,127
mainly Other debts (-€20,500) and Contributions, distributions and other (-€17,623)
- Receivables within one year +€10,768
up €10,768 (+68.1%), from €15,807 to €26,575
of which Trade receivables: +€5,397
- Stocks and contracts +€4,273
up €4,273 (+32.1%), from €13,332 to €17,606
- Tangible fixed assets -€1,150
down €1,150 (-29.9%), from €3,846 to €2,696
of which Furniture and vehicles: -€639
- Other debts -€20,500
down €20,500 (-79.8%), from €25,695 to €5,195
- Trade debts +€16,206
up €16,206 (+1408.9%), from €1,150 to €17,356
- Profit (loss) carried forward -€9,480
down €9,480 (-49.2%), from €19,266 to €9,786
- Reserves +€7,220
new in 2025: €7,220
of which Distributable reserves: +€7,220
- Tax, wage and social debts +€6,461
up €6,461 (+337.2%), from €1,916 to €8,377
of which Taxes: +€5,861
- Gross operating margin -€17,419
down €17,419 (-43.9%), from €39,655 to €22,237
- Taxes -€2,829
down €2,829 (-36.7%), from €7,714 to €4,886
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 | €54,227 | €54,134 | -€93 | -0.2% |
| Fixed assets | 21/28 | €3,846 | €2,696 | -€1,150 | -29.9% |
| Tangible fixed assets | 22/27 | €3,846 | €2,696 | -€1,150 | -29.9% |
| Plant, machinery and equipment | 23 | €780 | €366 | -€414 | -53.0% |
| Furniture and vehicles | 24 | €2,514 | €1,875 | -€639 | -25.4% |
| Other tangible fixed assets | 26 | €551 | €454 | -€97 | -17.7% |
| Current assets | 29/58 | €50,382 | €51,438 | +€1,057 | +2.1% |
| Stocks and contracts in progress | 3 | €13,332 | €17,606 | +€4,273 | +32.1% |
| Stocks | 30/36 | €13,332 | €17,606 | +€4,273 | +32.1% |
| Amounts receivable within one year | 40/41 | €15,807 | €26,575 | +€10,768 | +68.1% |
| Trade receivables | 40 | €11,930 | €17,327 | +€5,397 | +45.2% |
| Other amounts receivable | 41 | €3,878 | €9,248 | +€5,370 | +138.5% |
| Cash at bank and in hand | 54/58 | €20,132 | €6,127 | -€14,005 | -69.6% |
| Deferred charges and accrued income | 490/1 | €1,110 | €1,131 | +€21 | +1.9% |
| Total equity and liabilities | 10/49 | €54,227 | €54,134 | -€93 | -0.2% |
| Equity | 10/15 | €25,466 | €23,206 | -€2,260 | -8.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | - | €7,220 | +€7,220 | |
| Tax-exempt reserves | 132 | - | €0 | = | |
| Distributable reserves | 133 | - | €7,220 | +€7,220 | |
| Profit (loss) carried forward | 14 | €19,266 | €9,786 | -€9,480 | -49.2% |
| Amounts payable | 17/49 | €28,761 | €30,928 | +€2,167 | +7.5% |
| Amounts payable within one year | 42/48 | €28,761 | €30,928 | +€2,167 | +7.5% |
| Trade debts | 44 | €1,150 | €17,356 | +€16,206 | +1408.9% |
| Suppliers | 440/4 | €1,150 | €17,356 | +€16,206 | +1408.9% |
| Taxes, remuneration and social security | 45 | €1,916 | €8,377 | +€6,461 | +337.2% |
| Taxes | 450/3 | €1,916 | €7,777 | +€5,861 | +305.9% |
| Remuneration and social security | 454/9 | €0 | €600 | +€600 | |
| Other amounts payable | 47/48 | €25,695 | €5,195 | -€20,500 | -79.8% |
| Accrued charges and deferred income | 492/3 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,352 | €1,665 | +€313 | +23.2% |
| Other operating charges | 640/8 | €654 | €548 | -€106 | -16.2% |
| Gross operating margin | 9900 | €39,655 | €22,237 | -€17,419 | -43.9% |
| Operating profit (loss) | 9901 | €37,649 | €20,023 | -€17,626 | -46.8% |
| Financial income | 75/76B | €427 | €428 | +€0 | +0.1% |
| Recurring financial income | 75 | €427 | €428 | +€0 | +0.1% |
| Financial charges | 65/66B | €158 | €202 | +€44 | +27.7% |
| Recurring financial charges | 65 | €158 | €202 | +€44 | +27.7% |
| Profit (loss) for the period before taxes | 9903 | €37,918 | €20,248 | -€17,670 | -46.6% |
| Income taxes | 67/77 | €7,714 | €4,886 | -€2,829 | -36.7% |
| Profit (loss) for the period | 9904 | €30,204 | €15,363 | -€14,841 | -49.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,204 | €15,363 | -€14,841 | -49.1% |
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 10 October 2026 via checked.be.