CAP NORD: 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 NORD
Largest movements
- Cash -€50,406
down €50,406 (-23.3%), from €216,176 to €165,769
mainly Contributions, distributions and other (-€55,000) and Net result for the year (-€31,516)
- Receivables within one year -€15,288
down €15,288 (-11.8%), from €129,646 to €114,358
of which Other amounts receivable: -€15,424
- Tangible fixed assets -€10,210
down €10,210 (-11.1%), from €92,387 to €82,178
- Profit (loss) carried forward -€86,516
down €86,516 (-95.6%), from €90,464 to €3,948
- Trade debts +€10,156
up €10,156 (+10.2%), from €99,523 to €109,679
- Current portion of long-term debt +€6,926
up €6,926 (+152%), from €4,571 to €11,497
- Gross operating margin -€39,861
down €39,861 (-6.4%), from €623,222 to €583,360
- Depreciation -€15,593
down €15,593 (-33.4%), from €46,683 to €31,090
- Staff costs +€11,561
up €11,561 (+2.1%), from €563,664 to €575,225
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 | €493,111 | €424,676 | -€68,434 | -13.9% |
| Fixed assets | 21/28 | €93,069 | €82,547 | -€10,522 | -11.3% |
| Intangible fixed assets | 21 | €681 | €369 | -€312 | -45.8% |
| Tangible fixed assets | 22/27 | €92,387 | €82,178 | -€10,210 | -11.1% |
| Plant, machinery and equipment | 23 | €39,989 | €40,491 | +€502 | +1.3% |
| Furniture and vehicles | 24 | €10,575 | €9,777 | -€798 | -7.5% |
| Leasing and similar rights | 25 | €18,560 | €13,629 | -€4,931 | -26.6% |
| Other tangible fixed assets | 26 | €23,263 | €18,281 | -€4,983 | -21.4% |
| Current assets | 29/58 | €400,042 | €342,130 | -€57,912 | -14.5% |
| Stocks and contracts in progress | 3 | €42,207 | €45,651 | +€3,444 | +8.2% |
| Stocks | 30/36 | €42,207 | €45,651 | +€3,444 | +8.2% |
| Amounts receivable within one year | 40/41 | €129,646 | €114,358 | -€15,288 | -11.8% |
| Trade receivables | 40 | €1,718 | €1,855 | +€137 | +8.0% |
| Other amounts receivable | 41 | €127,928 | €112,503 | -€15,424 | -12.1% |
| Cash at bank and in hand | 54/58 | €216,176 | €165,769 | -€50,406 | -23.3% |
| Deferred charges and accrued income | 490/1 | €12,014 | €16,352 | +€4,338 | +36.1% |
| Total equity and liabilities | 10/49 | €493,111 | €424,676 | -€68,434 | -13.9% |
| Equity | 10/15 | €290,923 | €204,407 | -€86,516 | -29.7% |
| Contributions | 10/11 | €198,600 | €198,600 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,464 | €3,948 | -€86,516 | -95.6% |
| Amounts payable | 17/49 | €202,188 | €220,270 | +€18,082 | +8.9% |
| Amounts payable after more than one year | 17 | €14,729 | €11,480 | -€3,250 | -22.1% |
| Financial debts | 170/4 | €14,729 | €11,480 | -€3,250 | -22.1% |
| Amounts payable within one year | 42/48 | €187,459 | €208,790 | +€21,331 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €4,571 | €11,497 | +€6,926 | +152% |
| Financial debts | 43 | €6,198 | €10,121 | +€3,924 | +63.3% |
| Credit institutions | 430/8 | €6,198 | €10,121 | +€3,924 | +63.3% |
| Trade debts | 44 | €99,523 | €109,679 | +€10,156 | +10.2% |
| Suppliers | 440/4 | €99,523 | €109,679 | +€10,156 | +10.2% |
| Taxes, remuneration and social security | 45 | €77,168 | €77,492 | +€325 | +0.4% |
| Taxes | 450/3 | €15,213 | €15,354 | +€141 | +0.9% |
| Remuneration and social security | 454/9 | €61,955 | €62,138 | +€183 | +0.3% |
| Remuneration, social security and pensions | 62 | €563,664 | €575,225 | +€11,561 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,683 | €31,090 | -€15,593 | -33.4% |
| Other operating charges | 640/8 | €6,019 | €6,328 | +€309 | +5.1% |
| Gross operating margin | 9900 | €623,222 | €583,360 | -€39,861 | -6.4% |
| Operating profit (loss) | 9901 | €6,855 | -€29,283 | -€36,138 | |
| Financial income | 75/76B | €3,264 | €2,186 | -€1,078 | -33.0% |
| Recurring financial income | 75 | €3,264 | €2,186 | -€1,078 | -33.0% |
| Financial charges | 65/66B | €3,113 | €4,419 | +€1,306 | +42.0% |
| Recurring financial charges | 65 | €3,113 | €4,419 | +€1,306 | +42.0% |
| Profit (loss) for the period before taxes | 9903 | €7,006 | -€31,516 | -€38,522 | |
| Profit (loss) for the period | 9904 | €7,006 | -€31,516 | -€38,522 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,006 | -€31,516 | -€38,522 |
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 30 October 2026 via checked.be.