CaP MEDs: 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 MEDs
Largest movements
- Cash -€59,324
down €59,324 (-67.8%), from €87,489 to €28,165
- Deferred charges and accrued income +€52,676
up €52,676 (+83.3%), from €63,262 to €115,938
- Tangible fixed assets +€13,585
up €13,585 (+3.8%), from €358,772 to €372,357
of which Land and buildings: +€11,845
- Receivables within one year +€12,668
up €12,668 (+191.6%), from €6,610 to €19,278
of which Other amounts receivable: +€9,868
- Other debts -€298,357
down €298,357 (-88.6%), from €336,770 to €38,413
- Profit (loss) carried forward +€195,183
up €195,183 (+1187.9%), from €16,431 to €211,614
- Debts after one year +€111,831
up €111,831 (+285.6%), from €39,163 to €150,994
- Reserves +€40,000
new in 2025: €40,000
- Tax, wage and social debts -€14,706
down €14,706 (-78.6%), from €18,706 to €4,000
- Turnover +€127,583
up €127,583 (+41.3%), from €308,853 to €436,436
- Gross operating margin +€114,473
up €114,473 (+86.7%), from €132,031 to €246,504
- Taxes +€18,772
up €18,772 (+38.1%), from €49,217 to €67,989
- Depreciation +€15,537
up €15,537 (+22.1%), from €70,177 to €85,714
- Purchases and services +€13,110
up €13,110 (+7.4%), from €176,822 to €189,932
From the 2021 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2021 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €516,133 | €536,238 | +€20,105 | +3.9% |
| Fixed assets | 21/28 | €358,772 | €372,357 | +€13,585 | +3.8% |
| Tangible fixed assets | 22/27 | €358,772 | €372,357 | +€13,585 | +3.8% |
| Land and buildings | 22 | €302,731 | €314,576 | +€11,845 | +3.9% |
| Plant, machinery and equipment | 23 | €5,628 | €5,470 | -€158 | -2.8% |
| Furniture and vehicles | 24 | €50,413 | €52,312 | +€1,899 | +3.8% |
| Current assets | 29/58 | €157,361 | €163,880 | +€6,519 | +4.1% |
| Amounts receivable within one year | 40/41 | €6,610 | €19,278 | +€12,668 | +191.6% |
| Trade receivables | 40 | €6,610 | €9,410 | +€2,800 | +42.4% |
| Other amounts receivable | 41 | - | €9,868 | +€9,868 | |
| Current investments | 50/53 | - | €500 | +€500 | |
| Cash at bank and in hand | 54/58 | €87,489 | €28,165 | -€59,324 | -67.8% |
| Deferred charges and accrued income | 490/1 | €63,262 | €115,938 | +€52,676 | +83.3% |
| Total equity and liabilities | 10/49 | €516,133 | €536,238 | +€20,105 | +3.9% |
| Equity | 10/15 | €35,031 | €270,214 | +€235,183 | +671.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | - | €40,000 | +€40,000 | |
| Distributable reserves | 133 | - | €40,000 | +€40,000 | |
| Profit (loss) carried forward | 14 | €16,431 | €211,614 | +€195,183 | +1187.9% |
| Amounts payable | 17/49 | €481,102 | €266,023 | -€215,079 | -44.7% |
| Amounts payable after more than one year | 17 | €39,163 | €150,994 | +€111,831 | +285.6% |
| Financial debts | 170/4 | €39,163 | €150,994 | +€111,831 | +285.6% |
| Amounts payable within one year | 42/48 | €441,939 | €115,029 | -€326,910 | -74.0% |
| Current portion of amounts payable after more than one year | 42 | €34,253 | €21,659 | -€12,594 | -36.8% |
| Trade debts | 44 | €52,210 | €50,957 | -€1,253 | -2.4% |
| Suppliers | 440/4 | €52,210 | €50,957 | -€1,253 | -2.4% |
| Taxes, remuneration and social security | 45 | €18,706 | €4,000 | -€14,706 | -78.6% |
| Taxes | 450/3 | €18,706 | €4,000 | -€14,706 | -78.6% |
| Other amounts payable | 47/48 | €336,770 | €38,413 | -€298,357 | -88.6% |
| Turnover | 70 | €308,853 | €436,436 | +€127,583 | +41.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €176,822 | €189,932 | +€13,110 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,177 | €85,714 | +€15,537 | +22.1% |
| Other operating charges | 640/8 | €2,744 | €5,990 | +€3,246 | +118.3% |
| Gross operating margin | 9900 | €132,031 | €246,504 | +€114,473 | +86.7% |
| Operating profit (loss) | 9901 | €59,110 | €154,800 | +€95,690 | +161.9% |
| Financial income | 75/76B | - | €14 | +€14 | |
| Recurring financial income | 75 | - | €14 | +€14 | |
| Financial charges | 65/66B | €18,382 | €9,822 | -€8,560 | -46.6% |
| Recurring financial charges | 65 | €18,382 | €9,822 | -€8,560 | -46.6% |
| Profit (loss) for the period before taxes | 9903 | €40,728 | €144,992 | +€104,264 | +256.0% |
| Income taxes | 67/77 | €49,217 | €67,989 | +€18,772 | +38.1% |
| Profit (loss) for the period | 9904 | -€8,489 | €77,003 | +€85,492 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,489 | €77,003 | +€85,492 |
Source: filed annual accounts (NBB), fiscal years ended 31 October 2021 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.