Cap o: 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 o
Largest movements
- Cash -€94,609
down €94,609 (-93.0%), from €101,763 to €7,155
mainly Trade debts (-€88,839) and Investment in fixed assets (net) (-€29,704)
- Trade debts -€88,839
down €88,839 (-91.3%), from €97,307 to €8,468
- Profit (loss) carried forward +€26,397
up €26,397 (+71.8%), from €36,755 to €63,152
- Debts after one year -€23,127
down €23,127 (-17.3%), from €133,554 to €110,428
- Current portion of long-term debt -€7,308
down €7,308 (-34.4%), from €21,250 to €13,942
- Other debts -€5,712
down €5,712 (-11.1%), from €51,317 to €45,605
- Gross operating margin +€64,340
up €64,340 (+36.9%), from €174,599 to €238,939
- Staff costs +€42,901
up €42,901 (+36.3%), from €118,101 to €161,002
- Depreciation -€18,003
down €18,003 (-39.3%), from €45,780 to €27,777
- Taxes +€9,880
up €9,880 (+546%), from €1,808 to €11,688
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 | €409,671 | €315,676 | -€93,995 | -22.9% |
| Fixed assets | 21/28 | €282,113 | €284,039 | +€1,926 | +0.7% |
| Tangible fixed assets | 22/27 | €281,813 | €283,739 | +€1,926 | +0.7% |
| Land and buildings | 22 | €156,831 | €175,556 | +€18,725 | +11.9% |
| Plant, machinery and equipment | 23 | €21,939 | €18,067 | -€3,873 | -17.7% |
| Furniture and vehicles | 24 | €206 | €646 | +€440 | +214% |
| Other tangible fixed assets | 26 | €102,836 | €89,470 | -€13,367 | -13.0% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €127,558 | €31,637 | -€95,921 | -75.2% |
| Stocks and contracts in progress | 3 | €9,339 | €9,339 | = | 0.0% |
| Stocks | 30/36 | €9,339 | €9,339 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,456 | €15,143 | -€1,313 | -8.0% |
| Trade receivables | 40 | €13,331 | €5,850 | -€7,481 | -56.1% |
| Other amounts receivable | 41 | €3,126 | €9,294 | +€6,168 | +197% |
| Cash at bank and in hand | 54/58 | €101,763 | €7,155 | -€94,609 | -93.0% |
| Total equity and liabilities | 10/49 | €409,671 | €315,676 | -€93,995 | -22.9% |
| Equity | 10/15 | €82,666 | €109,063 | +€26,397 | +31.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €39,711 | €39,711 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €37,851 | €37,851 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,755 | €63,152 | +€26,397 | +71.8% |
| Amounts payable | 17/49 | €327,005 | €206,613 | -€120,392 | -36.8% |
| Amounts payable after more than one year | 17 | €133,554 | €110,428 | -€23,127 | -17.3% |
| Financial debts | 170/4 | €133,554 | €110,428 | -€23,127 | -17.3% |
| Amounts payable within one year | 42/48 | €193,451 | €96,185 | -€97,266 | -50.3% |
| Current portion of amounts payable after more than one year | 42 | €21,250 | €13,942 | -€7,308 | -34.4% |
| Trade debts | 44 | €97,307 | €8,468 | -€88,839 | -91.3% |
| Suppliers | 440/4 | €97,307 | €8,468 | -€88,839 | -91.3% |
| Taxes, remuneration and social security | 45 | €23,576 | €28,169 | +€4,594 | +19.5% |
| Taxes | 450/3 | €23,576 | €23,676 | +€101 | +0.4% |
| Remuneration and social security | 454/9 | - | €4,493 | +€4,493 | |
| Other amounts payable | 47/48 | €51,317 | €45,605 | -€5,712 | -11.1% |
| Remuneration, social security and pensions | 62 | €118,101 | €161,002 | +€42,901 | +36.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,780 | €27,777 | -€18,003 | -39.3% |
| Other operating charges | 640/8 | €5,331 | €6,042 | +€712 | +13.3% |
| Gross operating margin | 9900 | €174,599 | €238,939 | +€64,340 | +36.9% |
| Operating profit (loss) | 9901 | €5,387 | €44,117 | +€38,730 | +719% |
| Financial income | 75/76B | €120 | €0 | -€120 | -99.9% |
| Recurring financial income | 75 | €120 | €0 | -€120 | -99.9% |
| Financial charges | 65/66B | €3,688 | €6,032 | +€2,344 | +63.6% |
| Recurring financial charges | 65 | €3,688 | €6,032 | +€2,344 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | €1,819 | €38,085 | +€36,266 | +1,994% |
| Income taxes | 67/77 | €1,808 | €11,688 | +€9,880 | +546% |
| Profit (loss) for the period | 9904 | €11 | €26,397 | +€26,386 | +236,857% |
| Profit (loss) for the period to be appropriated | 9905 | €11 | €26,397 | +€26,386 | +236,857% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.