CAPARBEL: 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.
What changed
CAPARBEL
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€36.9m
2024 · €307.2m-€270.4m
Equity
€6.22bn
2024 · €6.24bn-€18.1m
Cash
-
2024 · €3,622-€3,622
Balance sheet total
€6.28bn
2024 · €6.51bn-€226.6m
Largest movements
Assets
- Financial fixed assets -€330.5m
down €330.5m (-5.4%), from €6.10bn to €5.77bn
- Receivables within one year +€103.9m
up €103.9m (+25.3%), from €410.3m to €514.2m
Equity and liabilities
- Other debts -€210.0m
down €210.0m (-79.2%), from €265.2m to €55.2m
Income statement
- Financial charges +€330.5m
up €330.5m (+77,283,755%), from €428 to €330.5m
of which Non-recurring financial charges: +€330.5m
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.
Result 2024
€307.2m
Other operating charges
-€3,198
Other operating items
+€7,301
Financial income
+€60.6m
Financial charges
-€330.5m
Taxes
-€413,000
Result 2025
€36.9m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€275.5m
Investment
+€330.5m
Financing
-€55.0m
Cash 2024
€3,622
From operations (derived)
-€275.5m
Net result for the year
+€36.9m
Receivables within one year
-€103.9m
Trade debts
+€30,737
Tax, wage and social debts
+€1.5m
Other debts
-€210.0m
Investment (derived)
+€330.5m
Investment in fixed assets (net)
+€330.5m
Financing
-€55.0m
Contributions, distributions and other
-€55.0m
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,508,677,557 | €6,282,116,251 | -€226.6m | -3.5% |
| Fixed assets | 21/28 | €6,098,386,301 | €5,767,882,301 | -€330.5m | -5.4% |
| Financial fixed assets | 28 | €6,098,386,301 | €5,767,882,301 | -€330.5m | -5.4% |
| Affiliated companies | 280/1 | €6,098,386,301 | €5,767,882,301 | -€330.5m | -5.4% |
| Participating interests | 280 | €6,098,386,301 | €5,767,882,301 | -€330.5m | -5.4% |
| Current assets | 29/58 | €410,291,256 | €514,233,950 | +€103.9m | +25.3% |
| Amounts receivable within one year | 40/41 | €410,287,634 | €514,233,950 | +€103.9m | +25.3% |
| Other amounts receivable | 41 | €410,287,634 | €514,233,950 | +€103.9m | +25.3% |
| Cash at bank and in hand | 54/58 | €3,622 | - | -€3,622 | |
| Total equity and liabilities | 10/49 | €6,508,677,557 | €6,282,116,251 | -€226.6m | -3.5% |
| Equity | 10/15 | €6,241,282,771 | €6,223,135,650 | -€18.1m | -0.3% |
| Contributions | 10/11 | €6,184,081,500 | €6,184,081,500 | = | 0.0% |
| Capital | 10 | €6,184,081,500 | €6,184,081,500 | = | 0.0% |
| Issued capital | 100 | €6,184,081,500 | €6,184,081,500 | = | 0.0% |
| Reserves | 13 | €28,488,927 | €31,281,453 | +€2.8m | +9.8% |
| Non-distributable reserves | 130/1 | €27,489,052 | €29,281,702 | +€1.8m | +6.5% |
| Legal reserve | 130 | €27,489,052 | €29,281,702 | +€1.8m | +6.5% |
| Tax-exempt reserves | 132 | €999,875 | €1,999,751 | +€999,876 | +100% |
| Profit (loss) carried forward | 14 | €28,712,344 | €7,772,697 | -€20.9m | -72.9% |
| Amounts payable | 17/49 | €267,394,787 | €58,980,601 | -€208.4m | -77.9% |
| Amounts payable within one year | 42/48 | €267,394,787 | €58,980,601 | -€208.4m | -77.9% |
| Trade debts | 44 | €56,369 | €87,105 | +€30,737 | +54.5% |
| Suppliers | 440/4 | €56,369 | €87,105 | +€30,737 | +54.5% |
| Taxes, remuneration and social security | 45 | €2,100,918 | €3,644,996 | +€1.5m | +73.5% |
| Taxes | 450/3 | €2,100,918 | €3,644,996 | +€1.5m | +73.5% |
| Other amounts payable | 47/48 | €265,237,500 | €55,248,500 | -€210.0m | -79.2% |
| Operating charges | 60/66A | €42,668 | €38,565 | -€4,103 | -9.6% |
| Services and other goods | 61 | €41,461 | €34,160 | -€7,301 | -17.6% |
| Other operating charges | 640/8 | €1,207 | €4,405 | +€3,198 | +265% |
| Operating profit (loss) | 9901 | -€42,668 | -€38,565 | +€4,103 | +9.6% |
| Financial income | 75/76B | €309,584,957 | €370,147,269 | +€60.6m | +19.6% |
| Recurring financial income | 75 | €309,584,957 | €370,147,269 | +€60.6m | +19.6% |
| Income from financial fixed assets | 750 | €300,138,316 | €359,988,645 | +€59.9m | +19.9% |
| Income from current assets | 751 | €9,446,641 | €10,158,624 | +€711,983 | +7.5% |
| Financial charges | 65/66B | €428 | €330,504,407 | +€330.5m | +77,283,755% |
| Recurring financial charges | 65 | €428 | €407 | -€21 | -4.9% |
| Other financial charges | 652/9 | €428 | €407 | -€21 | -4.9% |
| Non-recurring financial charges | 66B | - | €330,504,000 | +€330.5m | |
| Profit (loss) for the period before taxes | 9903 | €309,541,862 | €39,604,298 | -€269.9m | -87.2% |
| Income taxes | 67/77 | €2,338,418 | €2,751,418 | +€413,000 | +17.7% |
| Taxes | 670/3 | €2,338,418 | €2,751,418 | +€413,000 | +17.7% |
| Profit (loss) for the period | 9904 | €307,203,444 | €36,852,880 | -€270.4m | -88.0% |
| Transfer to tax-exempt reserves | 689 | €999,875 | €999,876 | +€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €306,203,569 | €35,853,004 | -€270.4m | -88.3% |
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 16 October 2026 via checked.be.