CAP 2 MANAGEMENT: 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.
CAP 2 MANAGEMENT
Largest movements
- Current investments +€41,394
up €41,394 (+55.4%), from €74,733 to €116,127
- Tangible fixed assets -€20,310
down €20,310 (-4.7%), from €430,979 to €410,668
of which Land and buildings: -€10,766
- Cash -€14,494
down €14,494 (-68.9%), from €21,038 to €6,544
mainly Current investments (-€41,394) and Other debts (-€39,217)
- Receivables within one year -€9,284
down €9,284 (-22.5%), from €41,335 to €32,052
of which Other amounts receivable: -€24,109
- Profit (loss) carried forward +€63,131
up €63,131 (+81.3%), from €77,624 to €140,755
- Other debts -€39,217
down €39,217 (-78.4%), from €50,000 to €10,783
- Debts after one year -€32,107
down €32,107 (-12.1%), from €264,279 to €232,172
- Financial charges +€42,463
up €42,463 (+296.9%), from €14,300 to €56,763
- Taxes -€9,466
down €9,466 (-35.0%), from €27,072 to €17,606
- Depreciation -€5,196
down €5,196 (-20.4%), from €25,507 to €20,310
- Financial income +€3,829
up €3,829 (+98.8%), from €3,877 to €7,706
- Gross operating margin -€1,864
down €1,864 (-1.2%), from €156,348 to €154,484
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 | €569,975 | €567,178 | -€2,796 | -0.5% |
| Fixed assets | 21/28 | €430,979 | €410,668 | -€20,310 | -4.7% |
| Tangible fixed assets | 22/27 | €430,979 | €410,668 | -€20,310 | -4.7% |
| Land and buildings | 22 | €410,179 | €399,413 | -€10,766 | -2.6% |
| Plant, machinery and equipment | 23 | €7,785 | €4,749 | -€3,036 | -39.0% |
| Furniture and vehicles | 24 | €13,015 | €6,507 | -€6,508 | -50.0% |
| Current assets | 29/58 | €138,996 | €156,510 | +€17,514 | +12.6% |
| Amounts receivable within one year | 40/41 | €41,335 | €32,052 | -€9,284 | -22.5% |
| Trade receivables | 40 | €13,199 | €28,025 | +€14,826 | +112.3% |
| Other amounts receivable | 41 | €28,137 | €4,027 | -€24,109 | -85.7% |
| Current investments | 50/53 | €74,733 | €116,127 | +€41,394 | +55.4% |
| Cash at bank and in hand | 54/58 | €21,038 | €6,544 | -€14,494 | -68.9% |
| Deferred charges and accrued income | 490/1 | €1,890 | €1,788 | -€102 | -5.4% |
| Total equity and liabilities | 10/49 | €569,975 | €567,178 | -€2,796 | -0.5% |
| Equity | 10/15 | €212,624 | €275,755 | +€63,131 | +29.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €130,000 | €130,000 | = | 0.0% |
| Distributable reserves | 133 | €130,000 | €130,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,624 | €140,755 | +€63,131 | +81.3% |
| Amounts payable | 17/49 | €357,351 | €291,423 | -€65,927 | -18.4% |
| Amounts payable after more than one year | 17 | €264,279 | €232,172 | -€32,107 | -12.1% |
| Financial debts | 170/4 | €264,279 | €232,172 | -€32,107 | -12.1% |
| Amounts payable within one year | 42/48 | €93,027 | €58,853 | -€34,174 | -36.7% |
| Current portion of amounts payable after more than one year | 42 | €30,737 | €32,107 | +€1,370 | +4.5% |
| Trade debts | 44 | €632 | €2,611 | +€1,979 | +312.9% |
| Suppliers | 440/4 | €632 | €2,611 | +€1,979 | +312.9% |
| Taxes, remuneration and social security | 45 | €11,658 | €13,351 | +€1,693 | +14.5% |
| Taxes | 450/3 | €11,658 | €13,351 | +€1,693 | +14.5% |
| Other amounts payable | 47/48 | €50,000 | €10,783 | -€39,217 | -78.4% |
| Accrued charges and deferred income | 492/3 | €45 | €399 | +€354 | +789.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,507 | €20,310 | -€5,196 | -20.4% |
| Other operating charges | 640/8 | €3,410 | €4,380 | +€969 | +28.4% |
| Gross operating margin | 9900 | €156,348 | €154,484 | -€1,864 | -1.2% |
| Operating profit (loss) | 9901 | €127,431 | €129,794 | +€2,363 | +1.9% |
| Financial income | 75/76B | €3,877 | €7,706 | +€3,829 | +98.8% |
| Recurring financial income | 75 | €3,877 | €7,706 | +€3,829 | +98.8% |
| Financial charges | 65/66B | €14,300 | €56,763 | +€42,463 | +296.9% |
| Recurring financial charges | 65 | €14,300 | €56,763 | +€42,463 | +296.9% |
| Profit (loss) for the period before taxes | 9903 | €117,008 | €80,737 | -€36,271 | -31.0% |
| Income taxes | 67/77 | €27,072 | €17,606 | -€9,466 | -35.0% |
| Profit (loss) for the period | 9904 | €89,936 | €63,131 | -€26,805 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €89,936 | €63,131 | -€26,805 | -29.8% |
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 8 October 2026 via checked.be.