CAPAJEGI: 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.
CAPAJEGI
Largest movements
- Cash +€30,751
up €30,751 (+27.5%), from €111,638 to €142,389
mainly Net result for the year (+€42,205) and Depreciation (+€21,464)
- Tangible fixed assets -€21,464
down €21,464 (-15.3%), from €140,152 to €118,688
of which Leasing and similar rights: -€14,263
- Receivables within one year -€6,532
down €6,532 (-74.9%), from €8,718 to €2,187
of which Trade receivables: -€6,532
- Reserves +€22,205
up €22,205 (+15.2%), from €146,189 to €168,393
of which Distributable reserves: +€22,205
- Debts after one year -€18,911
down €18,911 (-26.5%), from €71,255 to €52,344
- Depreciation +€12,461
up €12,461 (+138.4%), from €9,003 to €21,464
- Gross operating margin +€10,134
up €10,134 (+8.0%), from €126,002 to €136,137
- Staff costs +€2,795
up €2,795 (+5.9%), from €47,343 to €50,138
- Financial charges +€2,010
up €2,010 (+84.8%), from €2,369 to €4,379
- Taxes -€1,954
down €1,954 (-10.6%), from €18,446 to €16,492
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 | €284,674 | €287,595 | +€2,922 | +1.0% |
| Fixed assets | 21/28 | €140,152 | €118,688 | -€21,464 | -15.3% |
| Tangible fixed assets | 22/27 | €140,152 | €118,688 | -€21,464 | -15.3% |
| Land and buildings | 22 | €53,790 | €51,408 | -€2,382 | -4.4% |
| Plant, machinery and equipment | 23 | €9,091 | €6,796 | -€2,296 | -25.3% |
| Furniture and vehicles | 24 | €284 | €0 | -€284 | -100.0% |
| Leasing and similar rights | 25 | €70,031 | €55,768 | -€14,263 | -20.4% |
| Other tangible fixed assets | 26 | €6,955 | €4,716 | -€2,239 | -32.2% |
| Current assets | 29/58 | €144,522 | €168,908 | +€24,386 | +16.9% |
| Stocks and contracts in progress | 3 | €12,967 | €13,050 | +€83 | +0.6% |
| Stocks | 30/36 | €12,967 | €13,050 | +€83 | +0.6% |
| Amounts receivable within one year | 40/41 | €8,718 | €2,187 | -€6,532 | -74.9% |
| Trade receivables | 40 | €6,540 | €8 | -€6,532 | -99.9% |
| Other amounts receivable | 41 | €2,178 | €2,178 | = | 0.0% |
| Current investments | 50/53 | €9,385 | €9,385 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €111,638 | €142,389 | +€30,751 | +27.5% |
| Deferred charges and accrued income | 490/1 | €1,814 | €1,897 | +€84 | +4.6% |
| Total equity and liabilities | 10/49 | €284,674 | €287,595 | +€2,922 | +1.0% |
| Equity | 10/15 | €153,189 | €175,394 | +€22,205 | +14.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €146,189 | €168,393 | +€22,205 | +15.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €727 | €727 | = | 0.0% |
| Distributable reserves | 133 | €143,602 | €165,806 | +€22,205 | +15.5% |
| Profit (loss) carried forward | 14 | €800 | €800 | = | 0.0% |
| Amounts payable | 17/49 | €131,485 | €112,202 | -€19,283 | -14.7% |
| Amounts payable after more than one year | 17 | €71,255 | €52,344 | -€18,911 | -26.5% |
| Financial debts | 170/4 | €71,255 | €52,344 | -€18,911 | -26.5% |
| Amounts payable within one year | 42/48 | €60,104 | €59,196 | -€908 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €18,409 | €18,911 | +€502 | +2.7% |
| Trade debts | 44 | €16,538 | €17,135 | +€598 | +3.6% |
| Suppliers | 440/4 | €16,538 | €17,135 | +€598 | +3.6% |
| Taxes, remuneration and social security | 45 | €22,702 | €20,694 | -€2,007 | -8.8% |
| Taxes | 450/3 | €17,502 | €15,649 | -€1,853 | -10.6% |
| Remuneration and social security | 454/9 | €5,200 | €5,045 | -€155 | -3.0% |
| Other amounts payable | 47/48 | €2,455 | €2,455 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €126 | €662 | +€536 | +425.2% |
| Non-recurring operating income | 76A | €18,792 | €0 | -€18,792 | -100.0% |
| Remuneration, social security and pensions | 62 | €47,343 | €50,138 | +€2,795 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,003 | €21,464 | +€12,461 | +138.4% |
| Other operating charges | 640/8 | €3,386 | €2,266 | -€1,120 | -33.1% |
| Gross operating margin | 9900 | €126,002 | €136,137 | +€10,134 | +8.0% |
| Operating profit (loss) | 9901 | €66,270 | €62,269 | -€4,001 | -6.0% |
| Financial income | 75/76B | €1,863 | €807 | -€1,056 | -56.7% |
| Recurring financial income | 75 | €1,863 | €807 | -€1,056 | -56.7% |
| Financial charges | 65/66B | €2,369 | €4,379 | +€2,010 | +84.8% |
| Recurring financial charges | 65 | €2,369 | €4,379 | +€2,010 | +84.8% |
| Profit (loss) for the period before taxes | 9903 | €65,764 | €58,697 | -€7,067 | -10.7% |
| Income taxes | 67/77 | €18,446 | €16,492 | -€1,954 | -10.6% |
| Profit (loss) for the period | 9904 | €47,318 | €42,205 | -€5,113 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,318 | €42,205 | -€5,113 | -10.8% |
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 7 October 2026 via checked.be.