CAP ALL PROJECT: 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 ALL PROJECT
Largest movements
- Cash -€32,571
down €32,571 (-27.4%), from €118,830 to €86,259
mainly Other debts (-€30,519) and Tax, wage and social debts (-€28,366)
- Receivables within one year +€5,930
up €5,930 (+6.8%), from €86,710 to €92,641
of which Trade receivables: +€41,919
- Other debts -€30,519
down €30,519 (-71.3%), from €42,829 to €12,310
- Tax, wage and social debts -€28,366
down €28,366 (-41.6%), from €68,149 to €39,783
of which Taxes: -€28,606
- Trade debts +€18,565
up €18,565 (+32.5%), from €57,100 to €75,665
- Reserves +€13,868
up €13,868 (+37.7%), from €36,789 to €50,657
- Gross operating margin -€21,238
down €21,238 (-31.9%), from €66,596 to €45,357
- Staff costs +€10,000
new in 2025: €10,000
- Taxes -€5,796
down €5,796 (-42.6%), from €13,602 to €7,805
- Depreciation -€1,147
down €1,147 (-65.5%), from €1,750 to €603
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 | €207,867 | €181,415 | -€26,452 | -12.7% |
| Fixed assets | 21/28 | €1,674 | €1,249 | -€425 | -25.4% |
| Tangible fixed assets | 22/27 | €1,674 | €1,249 | -€425 | -25.4% |
| Plant, machinery and equipment | 23 | €1,674 | €1,249 | -€425 | -25.4% |
| Current assets | 29/58 | €206,193 | €180,166 | -€26,027 | -12.6% |
| Amounts receivable within one year | 40/41 | €86,710 | €92,641 | +€5,930 | +6.8% |
| Trade receivables | 40 | €25,062 | €66,981 | +€41,919 | +167.3% |
| Other amounts receivable | 41 | €61,648 | €25,660 | -€35,988 | -58.4% |
| Cash at bank and in hand | 54/58 | €118,830 | €86,259 | -€32,571 | -27.4% |
| Deferred charges and accrued income | 490/1 | €653 | €1,267 | +€614 | +93.9% |
| Total equity and liabilities | 10/49 | €207,867 | €181,415 | -€26,452 | -12.7% |
| Equity | 10/15 | €39,789 | €53,657 | +€13,868 | +34.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €36,789 | €50,657 | +€13,868 | +37.7% |
| Distributable reserves | 133 | €36,789 | €50,657 | +€13,868 | +37.7% |
| Amounts payable | 17/49 | €168,078 | €127,758 | -€40,320 | -24.0% |
| Amounts payable within one year | 42/48 | €168,078 | €127,758 | -€40,320 | -24.0% |
| Trade debts | 44 | €57,100 | €75,665 | +€18,565 | +32.5% |
| Suppliers | 440/4 | €57,100 | €75,665 | +€18,565 | +32.5% |
| Taxes, remuneration and social security | 45 | €68,149 | €39,783 | -€28,366 | -41.6% |
| Taxes | 450/3 | €68,149 | €39,543 | -€28,606 | -42.0% |
| Remuneration and social security | 454/9 | - | €240 | +€240 | |
| Other amounts payable | 47/48 | €42,829 | €12,310 | -€30,519 | -71.3% |
| Remuneration, social security and pensions | 62 | - | €10,000 | +€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,750 | €603 | -€1,147 | -65.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | - | €115 | +€115 | |
| Gross operating margin | 9900 | €66,596 | €45,357 | -€21,238 | -31.9% |
| Operating profit (loss) | 9901 | €64,458 | €34,239 | -€30,219 | -46.9% |
| Financial income | 75/76B | €1 | €9 | +€9 | +1692.2% |
| Recurring financial income | 75 | €1 | €9 | +€9 | +1692.2% |
| Financial charges | 65/66B | €471 | €266 | -€205 | -43.6% |
| Recurring financial charges | 65 | €471 | €266 | -€205 | -43.6% |
| Profit (loss) for the period before taxes | 9903 | €63,988 | €33,983 | -€30,005 | -46.9% |
| Income taxes | 67/77 | €13,602 | €7,805 | -€5,796 | -42.6% |
| Profit (loss) for the period | 9904 | €50,386 | €26,178 | -€24,209 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,386 | €26,178 | -€24,209 | -48.0% |
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.