CAP PROJECT: 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 PROJECT
Largest movements
- Tangible fixed assets +€240,831
new in 2024: €240,831
- Receivables after one year -€79,000
down €79,000 (-48.8%), from €162,000 to €83,000
- Receivables within one year +€59,988
up €59,988 (+4650.6%), from €1,290 to €61,278
of which Other amounts receivable: +€61,278
- Stocks and contracts -€11,064
no longer reported in 2024 (was €11,064)
- Deferred charges and accrued income -€9,384
down €9,384 (-90.0%), from €10,431 to €1,047
- Debts after one year +€113,748
new in 2024: €113,748
- Profit (loss) carried forward +€83,115
up €83,115 (+59.9%), from €138,871 to €221,986
- Trade debts -€14,973
down €14,973 (-46.0%), from €32,577 to €17,604
- Other debts +€14,718
new in 2024: €14,718
- Gross operating margin +€56,743
up €56,743 (+105.2%), from €53,925 to €110,668
- Taxes +€9,166
up €9,166 (+74.1%), from €12,376 to €21,542
- Financial income -€8,453
down €8,453 (-91.5%), from €9,234 to €781
- Staff costs -€4,158
down €4,158, from €4,054 to -€104
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €213,104 | €412,323 | +€199,219 | +93.5% |
| Fixed assets | 21/28 | €100 | €240,831 | +€240,731 | +240730.9% |
| Tangible fixed assets | 22/27 | - | €240,831 | +€240,831 | |
| Land and buildings | 22 | - | €240,831 | +€240,831 | |
| Financial fixed assets | 28 | €100 | - | -€100 | |
| Current assets | 29/58 | €213,004 | €171,492 | -€41,512 | -19.5% |
| Amounts receivable after more than one year | 29 | €162,000 | €83,000 | -€79,000 | -48.8% |
| Other amounts receivable | 291 | €162,000 | €83,000 | -€79,000 | -48.8% |
| Stocks and contracts in progress | 3 | €11,064 | - | -€11,064 | |
| Stocks | 30/36 | €11,064 | - | -€11,064 | |
| Amounts receivable within one year | 40/41 | €1,290 | €61,278 | +€59,988 | +4650.6% |
| Trade receivables | 40 | €1,290 | - | -€1,290 | |
| Other amounts receivable | 41 | - | €61,278 | +€61,278 | |
| Cash at bank and in hand | 54/58 | €28,220 | €26,167 | -€2,052 | -7.3% |
| Deferred charges and accrued income | 490/1 | €10,431 | €1,047 | -€9,384 | -90.0% |
| Total equity and liabilities | 10/49 | €213,104 | €412,323 | +€199,219 | +93.5% |
| Equity | 10/15 | €159,322 | €242,437 | +€83,115 | +52.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 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 | €138,871 | €221,986 | +€83,115 | +59.9% |
| Amounts payable | 17/49 | €53,782 | €169,886 | +€116,104 | +215.9% |
| Amounts payable after more than one year | 17 | - | €113,748 | +€113,748 | |
| Financial debts | 170/4 | - | €113,748 | +€113,748 | |
| Amounts payable within one year | 42/48 | €53,782 | €56,138 | +€2,356 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €9,000 | €10,401 | +€1,401 | +15.6% |
| Trade debts | 44 | €32,577 | €17,604 | -€14,973 | -46.0% |
| Suppliers | 440/4 | €32,577 | €17,604 | -€14,973 | -46.0% |
| Taxes, remuneration and social security | 45 | €12,205 | €13,415 | +€1,210 | +9.9% |
| Taxes | 450/3 | €11,880 | €13,415 | +€1,535 | +12.9% |
| Remuneration and social security | 454/9 | €325 | - | -€325 | |
| Other amounts payable | 47/48 | - | €14,718 | +€14,718 | |
| Remuneration, social security and pensions | 62 | €4,054 | -€104 | -€4,158 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €743 | +€743 | |
| Other operating charges | 640/8 | €1,165 | €842 | -€323 | -27.7% |
| Gross operating margin | 9900 | €53,925 | €110,668 | +€56,743 | +105.2% |
| Operating profit (loss) | 9901 | €48,707 | €109,188 | +€60,481 | +124.2% |
| Financial income | 75/76B | €9,234 | €781 | -€8,453 | -91.5% |
| Recurring financial income | 75 | €9,234 | €781 | -€8,453 | -91.5% |
| Financial charges | 65/66B | €4,227 | €5,311 | +€1,084 | +25.6% |
| Recurring financial charges | 65 | €4,227 | €5,311 | +€1,084 | +25.6% |
| Profit (loss) for the period before taxes | 9903 | €53,714 | €104,657 | +€50,944 | +94.8% |
| Income taxes | 67/77 | €12,376 | €21,542 | +€9,166 | +74.1% |
| Profit (loss) for the period | 9904 | €41,338 | €83,115 | +€41,777 | +101.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,338 | €83,115 | +€41,777 | +101.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.