CAP 47: 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.
CAP 47
Largest movements
- Current investments -€4,764
down €4,764 (-1.8%), from €261,197 to €256,432
- Receivables within one year +€3,374
up €3,374 (+19.3%), from €17,519 to €20,892
of which Other amounts receivable: +€2,454
- Other debts -€24,359
down €24,359 (-33.8%), from €72,038 to €47,679
- Reserves +€18,002
up €18,002 (+9.0%), from €201,087 to €219,089
- Taxes -€2,456
down €2,456 (-20.8%), from €11,811 to €9,355
- Depreciation +€2,003
up €2,003 (+73.3%), from €2,731 to €4,734
- Financial charges -€1,815
down €1,815 (-27.1%), from €6,704 to €4,889
- Gross operating margin -€1,069
down €1,069 (-3.2%), from €33,704 to €32,636
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 | €301,396 | €296,687 | -€4,710 | -1.6% |
| Fixed assets | 21/28 | €14,494 | €16,093 | +€1,599 | +11.0% |
| Tangible fixed assets | 22/27 | €14,494 | €16,093 | +€1,599 | +11.0% |
| Plant, machinery and equipment | 23 | - | €5,229 | +€5,229 | |
| Furniture and vehicles | 24 | €14,494 | €10,864 | -€3,630 | -25.0% |
| Current assets | 29/58 | €286,902 | €280,593 | -€6,309 | -2.2% |
| Amounts receivable within one year | 40/41 | €17,519 | €20,892 | +€3,374 | +19.3% |
| Trade receivables | 40 | €17,330 | €18,250 | +€920 | +5.3% |
| Other amounts receivable | 41 | €188 | €2,642 | +€2,454 | +1,303% |
| Current investments | 50/53 | €261,197 | €256,432 | -€4,764 | -1.8% |
| Cash at bank and in hand | 54/58 | €3,428 | €472 | -€2,956 | -86.2% |
| Deferred charges and accrued income | 490/1 | €4,759 | €2,797 | -€1,962 | -41.2% |
| Total equity and liabilities | 10/49 | €301,396 | €296,687 | -€4,710 | -1.6% |
| Equity | 10/15 | €213,487 | €231,489 | +€18,002 | +8.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €201,087 | €219,089 | +€18,002 | +9.0% |
| Distributable reserves | 133 | €201,087 | €219,089 | +€18,002 | +9.0% |
| Amounts payable | 17/49 | €87,909 | €65,198 | -€22,711 | -25.8% |
| Amounts payable within one year | 42/48 | €82,654 | €61,350 | -€21,304 | -25.8% |
| Financial debts | 43 | €3,640 | €6,374 | +€2,734 | +75.1% |
| Credit institutions | 430/8 | €3,640 | €6,374 | +€2,734 | +75.1% |
| Trade debts | 44 | €5,541 | €3,367 | -€2,175 | -39.2% |
| Suppliers | 440/4 | €5,541 | €3,367 | -€2,175 | -39.2% |
| Taxes, remuneration and social security | 45 | €1,434 | €3,930 | +€2,496 | +174% |
| Taxes | 450/3 | €1,434 | €3,930 | +€2,496 | +174% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €72,038 | €47,679 | -€24,359 | -33.8% |
| Accrued charges and deferred income | 492/3 | €5,255 | €3,848 | -€1,407 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,731 | €4,734 | +€2,003 | +73.3% |
| Other operating charges | 640/8 | €2,166 | €2,354 | +€187 | +8.7% |
| Gross operating margin | 9900 | €33,704 | €32,636 | -€1,069 | -3.2% |
| Operating profit (loss) | 9901 | €28,807 | €25,548 | -€3,259 | -11.3% |
| Financial income | 75/76B | €6,972 | €6,697 | -€275 | -3.9% |
| Recurring financial income | 75 | €6,972 | €6,697 | -€275 | -3.9% |
| Financial charges | 65/66B | €6,704 | €4,889 | -€1,815 | -27.1% |
| Recurring financial charges | 65 | €6,704 | €4,889 | -€1,815 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €29,075 | €27,357 | -€1,718 | -5.9% |
| Income taxes | 67/77 | €11,811 | €9,355 | -€2,456 | -20.8% |
| Profit (loss) for the period | 9904 | €17,264 | €18,002 | +€737 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,264 | €18,002 | +€737 | +4.3% |
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 14 October 2026 via checked.be.