CAPCO: 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.
CAPCO
Largest movements
- Cash +€76,605
up €76,605 (+97.7%), from €78,399 to €155,004
mainly Current investments (+€65,000) and Net result for the year (+€13,582)
- Current investments -€65,000
down €65,000 (-20.6%), from €315,536 to €250,536
- Receivables within one year +€12,000
up €12,000 (+100.0%), from €12,004 to €24,004
of which Trade receivables: +€12,000
- Profit (loss) carried forward +€13,582
up €13,582 (+15.0%), from -€90,729 to -€77,147
- Other debts +€9,637
up €9,637 (+1161.1%), from €830 to €10,467
- Gross operating margin -€5,899
down €5,899 (-28.4%), from €20,794 to €14,895
- Staff costs -€969
down €969 (-70.8%), from €1,369 to €400
- Depreciation +€715
new in 2025: €715
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 | €417,838 | €442,158 | +€24,320 | +5.8% |
| Fixed assets | 21/28 | €11,899 | €12,614 | +€715 | +6.0% |
| Intangible fixed assets | 21 | €5,149 | €5,149 | = | 0.0% |
| Tangible fixed assets | 22/27 | - | €715 | +€715 | |
| Plant, machinery and equipment | 23 | - | €715 | +€715 | |
| Financial fixed assets | 28 | €6,750 | €6,750 | = | 0.0% |
| Current assets | 29/58 | €405,939 | €429,544 | +€23,605 | +5.8% |
| Amounts receivable within one year | 40/41 | €12,004 | €24,004 | +€12,000 | +100.0% |
| Trade receivables | 40 | €12,000 | €24,000 | +€12,000 | +100.0% |
| Other amounts receivable | 41 | €4 | €4 | = | 0.0% |
| Current investments | 50/53 | €315,536 | €250,536 | -€65,000 | -20.6% |
| Cash at bank and in hand | 54/58 | €78,399 | €155,004 | +€76,605 | +97.7% |
| Total equity and liabilities | 10/49 | €417,838 | €442,158 | +€24,320 | +5.8% |
| Equity | 10/15 | €415,072 | €428,654 | +€13,582 | +3.3% |
| Contributions | 10/11 | €505,801 | €505,801 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,729 | -€77,147 | +€13,582 | +15.0% |
| Amounts payable | 17/49 | €2,766 | €13,504 | +€10,738 | +388.2% |
| Amounts payable within one year | 42/48 | €2,766 | €13,504 | +€10,738 | +388.2% |
| Trade debts | 44 | €1,936 | €3,037 | +€1,101 | +56.9% |
| Suppliers | 440/4 | €1,936 | €3,037 | +€1,101 | +56.9% |
| Other amounts payable | 47/48 | €830 | €10,467 | +€9,637 | +1161.1% |
| Remuneration, social security and pensions | 62 | €1,369 | €400 | -€969 | -70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €715 | +€715 | |
| Gross operating margin | 9900 | €20,794 | €14,895 | -€5,899 | -28.4% |
| Operating profit (loss) | 9901 | €19,425 | €13,780 | -€5,645 | -29.1% |
| Financial charges | 65/66B | €197 | €198 | +€1 | +0.5% |
| Recurring financial charges | 65 | €197 | €198 | +€1 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €19,228 | €13,582 | -€5,646 | -29.4% |
| Profit (loss) for the period | 9904 | €19,228 | €13,582 | -€5,646 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,228 | €13,582 | -€5,646 | -29.4% |
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 29 September 2026 via checked.be.