CAP Management: 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 Management
Largest movements
- Deferred charges and accrued income -€25,578
no longer reported in 2025 (was €25,578)
- Receivables within one year +€11,381
up €11,381 (+14557.1%), from €78 to €11,459
of which Trade receivables: +€11,459
- Cash +€8,878
up €8,878 (+20342.8%), from €44 to €8,921
mainly Deferred charges and accrued income (+€25,578) and Net result for the year (+€19,034)
- Trade debts -€38,781
down €38,781 (-81.7%), from €47,439 to €8,658
- Profit (loss) carried forward +€19,034
up €19,034 (+67.2%), from -€28,322 to -€9,288
- Tax, wage and social debts +€14,599
new in 2025: €14,599
- Gross operating margin +€29,941
up €29,941, from -€7,304 to €22,637
- Taxes +€3,318
new in 2025: €3,318
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 | €25,864 | €20,490 | -€5,374 | -20.8% |
| Fixed assets | 21/28 | €165 | €110 | -€55 | -33.3% |
| Tangible fixed assets | 22/27 | €165 | €110 | -€55 | -33.3% |
| Furniture and vehicles | 24 | €0 | - | -€0 | |
| Other tangible fixed assets | 26 | €165 | €110 | -€55 | -33.3% |
| Current assets | 29/58 | €25,699 | €20,380 | -€5,319 | -20.7% |
| Amounts receivable within one year | 40/41 | €78 | €11,459 | +€11,381 | +14557.1% |
| Trade receivables | 40 | - | €11,459 | +€11,459 | |
| Other amounts receivable | 41 | €78 | - | -€78 | |
| Cash at bank and in hand | 54/58 | €44 | €8,921 | +€8,878 | +20342.8% |
| Deferred charges and accrued income | 490/1 | €25,578 | - | -€25,578 | |
| Total equity and liabilities | 10/49 | €25,864 | €20,490 | -€5,374 | -20.8% |
| Equity | 10/15 | -€21,914 | -€2,880 | +€19,034 | +86.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €209 | €209 | = | 0.0% |
| Non-distributable reserves | 130/1 | €209 | €209 | = | 0.0% |
| Reserves not available under the articles | 1311 | €209 | €209 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,322 | -€9,288 | +€19,034 | +67.2% |
| Amounts payable | 17/49 | €47,778 | €23,370 | -€24,408 | -51.1% |
| Amounts payable within one year | 42/48 | €47,778 | €23,370 | -€24,408 | -51.1% |
| Trade debts | 44 | €47,439 | €8,658 | -€38,781 | -81.7% |
| Suppliers | 440/4 | €47,439 | €8,658 | -€38,781 | -81.7% |
| Taxes, remuneration and social security | 45 | - | €14,599 | +€14,599 | |
| Taxes | 450/3 | - | €14,599 | +€14,599 | |
| Other amounts payable | 47/48 | €339 | €113 | -€226 | -66.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55 | €55 | = | 0.0% |
| Gross operating margin | 9900 | -€7,304 | €22,637 | +€29,941 | |
| Operating profit (loss) | 9901 | -€7,359 | €22,582 | +€29,941 | |
| Financial charges | 65/66B | €30 | €230 | +€200 | +667.5% |
| Recurring financial charges | 65 | €30 | €230 | +€200 | +667.5% |
| Profit (loss) for the period before taxes | 9903 | -€7,389 | €22,352 | +€29,741 | |
| Income taxes | 67/77 | - | €3,318 | +€3,318 | |
| Profit (loss) for the period | 9904 | -€7,389 | €19,034 | +€26,423 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,389 | €19,034 | +€26,423 |
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.