CAPA: 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.
CAPA
Largest movements
- Stocks and contracts -€19,328
down €19,328 (-29.5%), from €65,490 to €46,162
- Tangible fixed assets +€4,456
up €4,456 (+38.9%), from €11,445 to €15,901
of which Furniture and vehicles: +€6,314
- Cash +€3,102
up €3,102 (+65.1%), from €4,765 to €7,867
mainly Stocks and contracts (+€19,328) and Net result for the year (+€16,503)
- Deferred charges and accrued income +€1,815
up €1,815 (+82.7%), from €2,195 to €4,010
- Receivables within one year +€1,485
up €1,485 (+41.5%), from €3,581 to €5,066
of which Trade receivables: +€800
- Profit (loss) carried forward +€16,503
up €16,503 (+66.9%), from -€24,662 to -€8,159
- Short-term financial debts -€14,719
no longer reported in 2025 (was €14,719)
- Other debts -€13,811
down €13,811 (-17.9%), from €76,948 to €63,137
- Trade debts +€3,762
up €3,762 (+1116.3%), from €337 to €4,099
- Current portion of long-term debt -€2,144
down €2,144 (-26.2%), from €8,186 to €6,042
- Purchases and services -€53,381
down €53,381 (-20.1%), from €265,772 to €212,391
- Gross operating margin +€33,309
up €33,309, from -€106 to €33,203
- Turnover -€20,072
down €20,072 (-7.6%), from €265,666 to €245,594
- Taxes +€3,301
up €3,301 (+1166.4%), from €283 to €3,584
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.
Cash bridge derived
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 | €90,122 | €81,652 | -€8,470 | -9.4% |
| Fixed assets | 21/28 | €14,091 | €18,547 | +€4,456 | +31.6% |
| Tangible fixed assets | 22/27 | €11,445 | €15,901 | +€4,456 | +38.9% |
| Plant, machinery and equipment | 23 | €8,826 | €6,968 | -€1,858 | -21.1% |
| Furniture and vehicles | 24 | €2,619 | €8,933 | +€6,314 | +241.1% |
| Financial fixed assets | 28 | €2,646 | €2,646 | = | 0.0% |
| Current assets | 29/58 | €76,031 | €63,105 | -€12,926 | -17.0% |
| Stocks and contracts in progress | 3 | €65,490 | €46,162 | -€19,328 | -29.5% |
| Stocks | 30/36 | €65,490 | €46,162 | -€19,328 | -29.5% |
| Amounts receivable within one year | 40/41 | €3,581 | €5,066 | +€1,485 | +41.5% |
| Trade receivables | 40 | €3,581 | €4,381 | +€800 | +22.3% |
| Other amounts receivable | 41 | - | €685 | +€685 | |
| Cash at bank and in hand | 54/58 | €4,765 | €7,867 | +€3,102 | +65.1% |
| Deferred charges and accrued income | 490/1 | €2,195 | €4,010 | +€1,815 | +82.7% |
| Total equity and liabilities | 10/49 | €90,122 | €81,652 | -€8,470 | -9.4% |
| Equity | 10/15 | -€14,127 | €2,376 | +€16,503 | |
| Contributions | 10/11 | €8,676 | €8,676 | = | 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 | -€24,662 | -€8,159 | +€16,503 | +66.9% |
| Amounts payable | 17/49 | €104,249 | €79,276 | -€24,973 | -24.0% |
| Amounts payable after more than one year | 17 | €1,374 | €2,414 | +€1,040 | +75.7% |
| Financial debts | 170/4 | €1,374 | €2,414 | +€1,040 | +75.7% |
| Amounts payable within one year | 42/48 | €102,483 | €76,862 | -€25,621 | -25.0% |
| Current portion of amounts payable after more than one year | 42 | €8,186 | €6,042 | -€2,144 | -26.2% |
| Financial debts | 43 | €14,719 | - | -€14,719 | |
| Credit institutions | 430/8 | €14,719 | - | -€14,719 | |
| Trade debts | 44 | €337 | €4,099 | +€3,762 | +1116.3% |
| Suppliers | 440/4 | €337 | €4,099 | +€3,762 | +1116.3% |
| Taxes, remuneration and social security | 45 | €2,293 | €3,584 | +€1,291 | +56.3% |
| Taxes | 450/3 | €2,293 | €3,584 | +€1,291 | +56.3% |
| Other amounts payable | 47/48 | €76,948 | €63,137 | -€13,811 | -17.9% |
| Accrued charges and deferred income | 492/3 | €392 | - | -€392 | |
| Turnover | 70 | €265,666 | €245,594 | -€20,072 | -7.6% |
| Non-recurring operating income | 76A | - | €26,178 | +€26,178 | |
| Goods, raw materials, services and sundry goods | 60/61 | €265,772 | €212,391 | -€53,381 | -20.1% |
| Remuneration, social security and pensions | 62 | €586 | €605 | +€19 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,210 | €5,861 | +€1,651 | +39.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €186 | +€186 | |
| Other operating charges | 640/8 | €2,309 | €2,378 | +€69 | +3.0% |
| Non-recurring operating charges | 66A | €116 | €305 | +€189 | +162.9% |
| Gross operating margin | 9900 | -€106 | €33,203 | +€33,309 | |
| Operating profit (loss) | 9901 | -€7,327 | €23,868 | +€31,195 | |
| Financial income | 75/76B | €395 | - | -€395 | |
| Recurring financial income | 75 | €395 | - | -€395 | |
| Financial charges | 65/66B | €4,081 | €3,781 | -€300 | -7.4% |
| Recurring financial charges | 65 | €4,081 | €3,781 | -€300 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,013 | €20,087 | +€31,100 | |
| Income taxes | 67/77 | €283 | €3,584 | +€3,301 | +1166.4% |
| Profit (loss) for the period | 9904 | -€11,296 | €16,503 | +€27,799 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,296 | €16,503 | +€27,799 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.