CAPALL: 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.
CAPALL
Largest movements
- Stocks and contracts -€192,250
down €192,250 (-66.6%), from €288,750 to €96,500
- Receivables within one year -€15,194
down €15,194 (-29.5%), from €51,567 to €36,373
of which Trade receivables: -€23,793
- Profit (loss) carried forward -€156,831
down €156,831 (-63.1%), from €248,473 to €91,642
- Trade debts -€46,357
down €46,357 (-62.6%), from €74,106 to €27,749
- Other debts -€7,229
down €7,229 (-92.2%), from €7,837 to €608
- Gross operating margin -€267,042
down €267,042, from €137,807 to -€129,235
- Taxes -€25,989
down €25,989 (-99.2%), from €26,191 to €202
- Depreciation +€6,894
up €6,894 (+54.4%), from €12,684 to €19,578
- Financial charges +€1,503
up €1,503 (+34.9%), from €4,310 to €5,813
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €416,940 | €202,923 | -€214,017 | -51.3% |
| Fixed assets | 21/28 | €64,766 | €62,026 | -€2,740 | -4.2% |
| Tangible fixed assets | 22/27 | €64,766 | €62,026 | -€2,740 | -4.2% |
| Land and buildings | 22 | €852 | €355 | -€497 | -58.3% |
| Plant, machinery and equipment | 23 | €14,378 | €26,604 | +€12,226 | +85.0% |
| Furniture and vehicles | 24 | €49,535 | €35,067 | -€14,468 | -29.2% |
| Current assets | 29/58 | €352,175 | €140,897 | -€211,277 | -60.0% |
| Stocks and contracts in progress | 3 | €288,750 | €96,500 | -€192,250 | -66.6% |
| Stocks | 30/36 | €288,750 | €96,500 | -€192,250 | -66.6% |
| Amounts receivable within one year | 40/41 | €51,567 | €36,373 | -€15,194 | -29.5% |
| Trade receivables | 40 | €32,900 | €9,107 | -€23,793 | -72.3% |
| Other amounts receivable | 41 | €18,667 | €27,266 | +€8,599 | +46.1% |
| Deferred charges and accrued income | 490/1 | €11,857 | €8,024 | -€3,833 | -32.3% |
| Total equity and liabilities | 10/49 | €416,940 | €202,923 | -€214,017 | -51.3% |
| Equity | 10/15 | €268,933 | €112,102 | -€156,831 | -58.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €248,473 | €91,642 | -€156,831 | -63.1% |
| Amounts payable | 17/49 | €148,008 | €90,821 | -€57,186 | -38.6% |
| Amounts payable within one year | 42/48 | €148,008 | €90,821 | -€57,186 | -38.6% |
| Current portion of amounts payable after more than one year | 42 | €3,408 | €3,404 | -€3 | -0.1% |
| Financial debts | 43 | €54,466 | €52,870 | -€1,596 | -2.9% |
| Credit institutions | 430/8 | €54,466 | €52,870 | -€1,596 | -2.9% |
| Trade debts | 44 | €74,106 | €27,749 | -€46,357 | -62.6% |
| Suppliers | 440/4 | €74,106 | €27,749 | -€46,357 | -62.6% |
| Taxes, remuneration and social security | 45 | €8,191 | €6,191 | -€2,001 | -24.4% |
| Taxes | 450/3 | €6,191 | €6,191 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,001 | €0 | -€2,001 | -100.0% |
| Other amounts payable | 47/48 | €7,837 | €608 | -€7,229 | -92.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,684 | €19,578 | +€6,894 | +54.4% |
| Other operating charges | 640/8 | €1,566 | €2,005 | +€438 | +28.0% |
| Gross operating margin | 9900 | €137,807 | -€129,235 | -€267,042 | |
| Operating profit (loss) | 9901 | €123,557 | -€150,817 | -€274,374 | |
| Financial income | 75/76B | €62 | €2 | -€60 | -97.3% |
| Recurring financial income | 75 | €62 | €2 | -€60 | -97.3% |
| Financial charges | 65/66B | €4,310 | €5,813 | +€1,503 | +34.9% |
| Recurring financial charges | 65 | €4,310 | €5,813 | +€1,503 | +34.9% |
| Profit (loss) for the period before taxes | 9903 | €119,309 | -€156,629 | -€275,938 | |
| Income taxes | 67/77 | €26,191 | €202 | -€25,989 | -99.2% |
| Profit (loss) for the period | 9904 | €93,118 | -€156,831 | -€249,949 | |
| Profit (loss) for the period to be appropriated | 9905 | €93,118 | -€156,831 | -€249,949 |
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 9 October 2026 via checked.be.