CAP S: what changed
CAP S
Largest movements
- Cash +€48,147
up €48,147 (+104%), from €46,187 to €94,335
mainly Net result for the year (+€70,320) and Tax, wage and social debts (+€9,256)
- Receivables within one year +€33,846
up €33,846 (+267%), from €12,691 to €46,536
of which Trade receivables: +€22,743
- Reserves +€70,320
up €70,320 (+193%), from €36,420 to €106,740
- Tax, wage and social debts +€9,256
up €9,256 (+45.8%), from €20,223 to €29,479
- Trade debts +€2,365
up €2,365 (+104%), from €2,285 to €4,651
- Gross operating margin +€46,365
up €46,365 (+96.6%), from €48,001 to €94,365
- Taxes +€10,161
up €10,161 (+102%), from €9,915 to €20,076
- Financial charges +€2,366
up €2,366 (+191%), from €1,236 to €3,602
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,928 | €143,869 | +€81,941 | +132% |
| Fixed assets | 21/28 | €1,192 | €792 | -€401 | -33.6% |
| Tangible fixed assets | 22/27 | €1,192 | €792 | -€401 | -33.6% |
| Furniture and vehicles | 24 | €1,192 | €792 | -€401 | -33.6% |
| Current assets | 29/58 | €60,736 | €143,077 | +€82,342 | +136% |
| Amounts receivable within one year | 40/41 | €12,691 | €46,536 | +€33,846 | +267% |
| Trade receivables | 40 | €12,688 | €35,430 | +€22,743 | +179% |
| Other amounts receivable | 41 | €3 | €11,106 | +€11,103 | +399,399% |
| Cash at bank and in hand | 54/58 | €46,187 | €94,335 | +€48,147 | +104% |
| Deferred charges and accrued income | 490/1 | €1,858 | €2,206 | +€349 | +18.8% |
| Total equity and liabilities | 10/49 | €61,928 | €143,869 | +€81,941 | +132% |
| Equity | 10/15 | €39,420 | €109,740 | +€70,320 | +178% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €36,420 | €106,740 | +€70,320 | +193% |
| Distributable reserves | 133 | €36,420 | €106,740 | +€70,320 | +193% |
| Amounts payable | 17/49 | €22,508 | €34,130 | +€11,622 | +51.6% |
| Amounts payable within one year | 42/48 | €22,508 | €34,130 | +€11,622 | +51.6% |
| Trade debts | 44 | €2,285 | €4,651 | +€2,365 | +104% |
| Suppliers | 440/4 | €2,285 | €4,651 | +€2,365 | +104% |
| Taxes, remuneration and social security | 45 | €20,223 | €29,479 | +€9,256 | +45.8% |
| Taxes | 450/3 | €20,223 | €29,479 | +€9,256 | +45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9 | €401 | +€391 | +4,235% |
| Other operating charges | 640/8 | €436 | €344 | -€92 | -21.2% |
| Gross operating margin | 9900 | €48,001 | €94,365 | +€46,365 | +96.6% |
| Operating profit (loss) | 9901 | €47,556 | €93,621 | +€46,066 | +96.9% |
| Financial income | 75/76B | €15 | €376 | +€361 | +2,408% |
| Recurring financial income | 75 | €15 | €376 | +€361 | +2,408% |
| Financial charges | 65/66B | €1,236 | €3,602 | +€2,366 | +191% |
| Recurring financial charges | 65 | €1,236 | €3,602 | +€2,366 | +191% |
| Profit (loss) for the period before taxes | 9903 | €46,335 | €90,395 | +€44,061 | +95.1% |
| Income taxes | 67/77 | €9,915 | €20,076 | +€10,161 | +102% |
| Profit (loss) for the period | 9904 | €36,420 | €70,320 | +€33,900 | +93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,420 | €70,320 | +€33,900 | +93.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.