CAP ELAN: 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 ELAN
Largest movements
- Tangible fixed assets -€12,671
down €12,671 (-4.9%), from €259,367 to €246,696
- Other debts -€12,182
down €12,182 (-40.1%), from €30,359 to €18,177
- Debts after one year -€6,391
down €6,391 (-2.9%), from €224,130 to €217,739
- Gross operating margin -€3,006
down €3,006 (-9.9%), from €30,251 to €27,245
- Taxes -€985
down €985 (-76.5%), from €1,288 to €303
- Other operating charges +€605
up €605 (+26.7%), from €2,269 to €2,874
- Depreciation +€336
up €336 (+2.2%), from €14,957 to €15,293
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 | €277,085 | €258,497 | -€18,588 | -6.7% |
| Formation expenses | 20 | €2,340 | €1,912 | -€428 | -18.3% |
| Fixed assets | 21/28 | €268,163 | €253,298 | -€14,865 | -5.5% |
| Intangible fixed assets | 21 | €8,796 | €6,602 | -€2,194 | -24.9% |
| Tangible fixed assets | 22/27 | €259,367 | €246,696 | -€12,671 | -4.9% |
| Land and buildings | 22 | €259,367 | €246,696 | -€12,671 | -4.9% |
| Current assets | 29/58 | €6,582 | €3,288 | -€3,294 | -50.1% |
| Amounts receivable within one year | 40/41 | €520 | €460 | -€60 | -11.6% |
| Trade receivables | 40 | €460 | €460 | -€0 | 0.0% |
| Other amounts receivable | 41 | €60 | - | -€60 | |
| Cash at bank and in hand | 54/58 | €5,399 | €2,667 | -€2,732 | -50.6% |
| Deferred charges and accrued income | 490/1 | €663 | €161 | -€502 | -75.7% |
| Total equity and liabilities | 10/49 | €277,085 | €258,497 | -€18,588 | -6.7% |
| Equity | 10/15 | €13,888 | €14,696 | +€808 | +5.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Outside capital | 11 | - | €6,200 | +€6,200 | |
| Other | 1109/19 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €7,688 | €8,496 | +€808 | +10.5% |
| Non-distributable reserves | 130/1 | €380 | €380 | -€0 | -0.1% |
| Legal reserve | 130 | €380 | - | -€380 | |
| Reserves not available under the articles | 1311 | - | €380 | +€380 | |
| Distributable reserves | 133 | €7,308 | €8,117 | +€809 | +11.1% |
| Amounts payable | 17/49 | €263,197 | €243,801 | -€19,396 | -7.4% |
| Amounts payable after more than one year | 17 | €224,130 | €217,739 | -€6,391 | -2.9% |
| Financial debts | 170/4 | €224,130 | €217,739 | -€6,391 | -2.9% |
| Amounts payable within one year | 42/48 | €39,047 | €26,062 | -€12,985 | -33.3% |
| Current portion of amounts payable after more than one year | 42 | €6,181 | €6,391 | +€210 | +3.4% |
| Taxes, remuneration and social security | 45 | €2,507 | €1,494 | -€1,013 | -40.4% |
| Taxes | 450/3 | €2,507 | €1,494 | -€1,013 | -40.4% |
| Other amounts payable | 47/48 | €30,359 | €18,177 | -€12,182 | -40.1% |
| Accrued charges and deferred income | 492/3 | €20 | - | -€20 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,957 | €15,293 | +€336 | +2.2% |
| Other operating charges | 640/8 | €2,269 | €2,874 | +€605 | +26.7% |
| Gross operating margin | 9900 | €30,251 | €27,245 | -€3,006 | -9.9% |
| Operating profit (loss) | 9901 | €13,025 | €9,078 | -€3,947 | -30.3% |
| Financial charges | 65/66B | €8,199 | €7,966 | -€233 | -2.8% |
| Recurring financial charges | 65 | €8,199 | €7,966 | -€233 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €4,826 | €1,112 | -€3,714 | -77.0% |
| Income taxes | 67/77 | €1,288 | €303 | -€985 | -76.5% |
| Profit (loss) for the period | 9904 | €3,538 | €809 | -€2,729 | -77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,538 | €809 | -€2,729 | -77.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.