CAP TAILLAT: 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 TAILLAT
Largest movements
- Receivables within one year -€1.5m
down €1.5m (-92.3%), from €1.6m to €124,719
of which Other amounts receivable: -€1.5m
- Receivables after one year -€300,000
down €300,000 (-50.0%), from €600,000 to €300,000
- Current investments +€229,788
up €229,788 (+45.0%), from €510,562 to €740,350
- Tangible fixed assets -€42,802
down €42,802 (-5.9%), from €722,663 to €679,861
of which Land and buildings: -€22,756
- Other debts -€2.1m
no longer reported in 2025 (was €2.1m)
- Debts after one year +€442,722
new in 2025: €442,722
- Reserves +€41,510
up €41,510 (+3.4%), from €1.2m to €1.3m
of which Distributable reserves: +€45,821
- Financial income -€25,656
down €25,656 (-53.6%), from €47,877 to €22,221
- Gross operating margin -€16,651
down €16,651 (-16.6%), from €100,170 to €83,519
- Taxes -€12,665
down €12,665 (-41.3%), from €30,644 to €17,979
- Depreciation +€2,411
up €2,411 (+6.0%), from €40,391 to €42,802
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 | €3,489,466 | €1,875,564 | -€1.6m | -46.3% |
| Fixed assets | 21/28 | €722,663 | €679,861 | -€42,802 | -5.9% |
| Tangible fixed assets | 22/27 | €722,663 | €679,861 | -€42,802 | -5.9% |
| Land and buildings | 22 | €641,802 | €619,046 | -€22,756 | -3.5% |
| Furniture and vehicles | 24 | €80,861 | €60,815 | -€20,046 | -24.8% |
| Current assets | 29/58 | €2,766,803 | €1,195,703 | -€1.6m | -56.8% |
| Amounts receivable after more than one year | 29 | €600,000 | €300,000 | -€300,000 | -50.0% |
| Other amounts receivable | 291 | €600,000 | €300,000 | -€300,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €1,611,124 | €124,719 | -€1.5m | -92.3% |
| Trade receivables | 40 | €12,297 | €1,587 | -€10,711 | -87.1% |
| Other amounts receivable | 41 | €1,598,827 | €123,132 | -€1.5m | -92.3% |
| Current investments | 50/53 | €510,562 | €740,350 | +€229,788 | +45.0% |
| Cash at bank and in hand | 54/58 | €39,116 | €24,634 | -€14,482 | -37.0% |
| Deferred charges and accrued income | 490/1 | €6,000 | €6,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €3,489,466 | €1,875,564 | -€1.6m | -46.3% |
| Equity | 10/15 | €1,255,694 | €1,297,204 | +€41,510 | +3.3% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Reserves | 13 | €1,208,492 | €1,250,002 | +€41,510 | +3.4% |
| Tax-exempt reserves | 132 | €344,833 | €340,521 | -€4,311 | -1.3% |
| Distributable reserves | 133 | €863,660 | €909,481 | +€45,821 | +5.3% |
| Profit (loss) carried forward | 14 | €9,701 | €9,701 | = | 0.0% |
| Provisions and deferred taxes | 16 | €114,944 | €113,507 | -€1,437 | -1.3% |
| Deferred taxes | 168 | €114,944 | €113,507 | -€1,437 | -1.3% |
| Amounts payable | 17/49 | €2,118,828 | €464,853 | -€1.7m | -78.1% |
| Amounts payable after more than one year | 17 | - | €442,722 | +€442,722 | |
| Financial debts | 170/4 | - | €442,722 | +€442,722 | |
| Amounts payable within one year | 42/48 | €2,115,828 | €19,131 | -€2.1m | -99.1% |
| Trade debts | 44 | €166 | €2,401 | +€2,235 | +1,343% |
| Suppliers | 440/4 | €166 | €2,401 | +€2,235 | +1,343% |
| Taxes, remuneration and social security | 45 | €15,662 | €16,730 | +€1,068 | +6.8% |
| Taxes | 450/3 | €13,741 | €14,783 | +€1,042 | +7.6% |
| Remuneration and social security | 454/9 | €1,921 | €1,947 | +€26 | +1.3% |
| Other amounts payable | 47/48 | €2,100,000 | - | -€2.1m | |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,391 | €42,802 | +€2,411 | +6.0% |
| Other operating charges | 640/8 | €4,478 | €4,536 | +€58 | +1.3% |
| Gross operating margin | 9900 | €100,170 | €83,519 | -€16,651 | -16.6% |
| Operating profit (loss) | 9901 | €55,301 | €36,181 | -€19,120 | -34.6% |
| Financial income | 75/76B | €47,877 | €22,221 | -€25,656 | -53.6% |
| Recurring financial income | 75 | €47,877 | €22,221 | -€25,656 | -53.6% |
| Financial charges | 65/66B | €337 | €350 | +€13 | +3.9% |
| Recurring financial charges | 65 | €337 | €350 | +€13 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €102,841 | €58,052 | -€44,789 | -43.6% |
| Transfer from deferred taxes | 780 | €1,437 | €1,437 | = | 0.0% |
| Income taxes | 67/77 | €30,644 | €17,979 | -€12,665 | -41.3% |
| Profit (loss) for the period | 9904 | €73,634 | €41,510 | -€32,124 | -43.6% |
| Transfer from tax-exempt reserves | 789 | €4,311 | €4,311 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €77,945 | €45,821 | -€32,124 | -41.2% |
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 15 October 2026 via checked.be.