C.A.P.T.: 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.
C.A.P.T.
Largest movements
- Stocks and contracts -€32,537
down €32,537 (-4.3%), from €749,459 to €716,922
- Tangible fixed assets -€23,905
down €23,905 (-10.5%), from €228,669 to €204,764
of which Furniture and vehicles: -€14,815
- Receivables within one year +€17,356
up €17,356 (+14.3%), from €121,454 to €138,810
of which Trade receivables: +€18,157
- Trade debts -€41,159
down €41,159 (-13.4%), from €307,995 to €266,836
- Reserves +€35,001
up €35,001 (+6.2%), from €568,861 to €603,862
of which Distributable reserves: +€33,251
- Tax, wage and social debts -€18,456
down €18,456 (-15.7%), from €117,668 to €99,212
of which Taxes: -€13,336
- Gross operating margin -€46,974
down €46,974 (-9.1%), from €516,077 to €469,103
- Staff costs -€35,251
down €35,251 (-9.6%), from €366,713 to €331,462
- Depreciation -€11,475
down €11,475 (-22.6%), from €50,697 to €39,223
- Financial charges +€5,730
up €5,730 (+10.5%), from €54,676 to €60,407
of which Financial charges: +€9,629
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 | €1,610,483 | €1,579,380 | -€31,103 | -1.9% |
| Fixed assets | 21/28 | €235,625 | €205,363 | -€30,262 | -12.8% |
| Intangible fixed assets | 21 | €6,698 | €325 | -€6,372 | -95.1% |
| Tangible fixed assets | 22/27 | €228,669 | €204,764 | -€23,905 | -10.5% |
| Plant, machinery and equipment | 23 | €5,178 | €1,917 | -€3,262 | -63.0% |
| Furniture and vehicles | 24 | €178,812 | €163,996 | -€14,815 | -8.3% |
| Other tangible fixed assets | 26 | €44,679 | €38,851 | -€5,828 | -13.0% |
| Financial fixed assets | 28 | €258 | €274 | +€16 | +6.1% |
| Current assets | 29/58 | €1,374,858 | €1,374,017 | -€841 | -0.1% |
| Stocks and contracts in progress | 3 | €749,459 | €716,922 | -€32,537 | -4.3% |
| Stocks | 30/36 | €749,459 | €716,922 | -€32,537 | -4.3% |
| Amounts receivable within one year | 40/41 | €121,454 | €138,810 | +€17,356 | +14.3% |
| Trade receivables | 40 | €120,588 | €138,745 | +€18,157 | +15.1% |
| Other amounts receivable | 41 | €866 | €66 | -€801 | -92.4% |
| Cash at bank and in hand | 54/58 | €467,296 | €482,131 | +€14,835 | +3.2% |
| Deferred charges and accrued income | 490/1 | €36,649 | €36,154 | -€495 | -1.4% |
| Total equity and liabilities | 10/49 | €1,610,483 | €1,579,380 | -€31,103 | -1.9% |
| Equity | 10/15 | €958,697 | €993,699 | +€35,001 | +3.7% |
| Contributions | 10/11 | €389,836 | €389,836 | = | 0.0% |
| Capital | 10 | €389,836 | €389,836 | = | 0.0% |
| Issued capital | 100 | €389,836 | €389,836 | = | 0.0% |
| Reserves | 13 | €568,861 | €603,862 | +€35,001 | +6.2% |
| Non-distributable reserves | 130/1 | €34,800 | €36,550 | +€1,750 | +5.0% |
| Legal reserve | 130 | €34,800 | €36,550 | +€1,750 | +5.0% |
| Distributable reserves | 133 | €534,061 | €567,312 | +€33,251 | +6.2% |
| Amounts payable | 17/49 | €651,786 | €585,681 | -€66,104 | -10.1% |
| Amounts payable after more than one year | 17 | €179,650 | €169,068 | -€10,582 | -5.9% |
| Financial debts | 170/4 | €179,650 | €169,068 | -€10,582 | -5.9% |
| Amounts payable within one year | 42/48 | €472,136 | €416,613 | -€55,523 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €43,703 | €45,583 | +€1,880 | +4.3% |
| Trade debts | 44 | €307,995 | €266,836 | -€41,159 | -13.4% |
| Suppliers | 440/4 | €307,995 | €266,836 | -€41,159 | -13.4% |
| Advances received on contracts in progress | 46 | €2,770 | €4,982 | +€2,212 | +79.8% |
| Taxes, remuneration and social security | 45 | €117,668 | €99,212 | -€18,456 | -15.7% |
| Taxes | 450/3 | €27,917 | €14,581 | -€13,336 | -47.8% |
| Remuneration and social security | 454/9 | €89,751 | €84,631 | -€5,120 | -5.7% |
| Remuneration, social security and pensions | 62 | €366,713 | €331,462 | -€35,251 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,697 | €39,223 | -€11,475 | -22.6% |
| Other operating charges | 640/8 | €13,339 | €11,466 | -€1,873 | -14.0% |
| Gross operating margin | 9900 | €516,077 | €469,103 | -€46,974 | -9.1% |
| Operating profit (loss) | 9901 | €85,327 | €86,952 | +€1,625 | +1.9% |
| Financial income | 75/76B | €9,969 | €8,456 | -€1,512 | -15.2% |
| Recurring financial income | 75 | €9,969 | €8,456 | -€1,512 | -15.2% |
| Financial charges | 65/66B | €54,676 | €60,407 | +€5,730 | +10.5% |
| Recurring financial charges | 65 | €15,776 | €25,405 | +€9,629 | +61.0% |
| Non-recurring financial charges | 66B | €38,900 | €35,001 | -€3,898 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €40,619 | €35,001 | -€5,618 | -13.8% |
| Income taxes | 67/77 | €1,720 | - | -€1,720 | |
| Profit (loss) for the period | 9904 | €38,900 | €35,001 | -€3,898 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,900 | €35,001 | -€3,898 | -10.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.