CAPCO AVIATION: 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.
CAPCO AVIATION
Largest movements
- Tangible fixed assets -€107,843
down €107,843 (-93.7%), from €115,097 to €7,253
- Cash +€74,112
up €74,112 (+37.5%), from €197,382 to €271,494
mainly Investment in fixed assets (net) (+€106,499) and Other debts (+€13,023)
- Tax, wage and social debts -€27,535
down €27,535 (-98.4%), from €27,994 to €459
- Other debts +€13,023
up €13,023 (+16.6%), from €78,549 to €91,572
- Debts after one year -€12,402
down €12,402 (-6.3%), from €198,052 to €185,650
of which Financial debts: -€12,652
- Profit (loss) carried forward -€9,839
down €9,839 (-58.5%), from -€16,815 to -€26,654
- Gross operating margin -€47,601
down €47,601, from €42,143 to -€5,458
- Depreciation -€26,625
down €26,625 (-95.2%), from €27,969 to €1,344
- Staff costs +€701
up €701 (+150%), from €467 to €1,168
- Other operating charges -€428
down €428 (-35.1%), from €1,221 to €793
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €321,476 | €285,739 | -€35,737 | -11.1% |
| Fixed assets | 21/28 | €115,097 | €7,253 | -€107,843 | -93.7% |
| Tangible fixed assets | 22/27 | €115,097 | €7,253 | -€107,843 | -93.7% |
| Furniture and vehicles | 24 | €115,097 | €7,253 | -€107,843 | -93.7% |
| Current assets | 29/58 | €206,379 | €278,485 | +€72,106 | +34.9% |
| Stocks and contracts in progress | 3 | €2,829 | €3,570 | +€742 | +26.2% |
| Stocks | 30/36 | €2,829 | €3,570 | +€742 | +26.2% |
| Amounts receivable within one year | 40/41 | €6,168 | €3,421 | -€2,747 | -44.5% |
| Trade receivables | 40 | €1,168 | €3,421 | +€2,253 | +193% |
| Other amounts receivable | 41 | €5,000 | - | -€5,000 | |
| Cash at bank and in hand | 54/58 | €197,382 | €271,494 | +€74,112 | +37.5% |
| Total equity and liabilities | 10/49 | €321,476 | €285,739 | -€35,737 | -11.1% |
| Equity | 10/15 | €1,785 | -€8,054 | -€9,839 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,815 | -€26,654 | -€9,839 | -58.5% |
| Amounts payable | 17/49 | €319,691 | €293,792 | -€25,898 | -8.1% |
| Amounts payable after more than one year | 17 | €198,052 | €185,650 | -€12,402 | -6.3% |
| Financial debts | 170/4 | €198,052 | €185,400 | -€12,652 | -6.4% |
| Other amounts payable | 178/9 | - | €250 | +€250 | |
| Amounts payable within one year | 42/48 | €121,637 | €108,141 | -€13,496 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €12,227 | €12,652 | +€425 | +3.5% |
| Trade debts | 44 | €2,867 | €3,458 | +€591 | +20.6% |
| Suppliers | 440/4 | €2,867 | €3,458 | +€591 | +20.6% |
| Taxes, remuneration and social security | 45 | €27,994 | €459 | -€27,535 | -98.4% |
| Taxes | 450/3 | €27,994 | €459 | -€27,535 | -98.4% |
| Other amounts payable | 47/48 | €78,549 | €91,572 | +€13,023 | +16.6% |
| Accrued charges and deferred income | 492/3 | €1 | €1 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €467 | €1,168 | +€701 | +150% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,969 | €1,344 | -€26,625 | -95.2% |
| Other operating charges | 640/8 | €1,221 | €793 | -€428 | -35.1% |
| Gross operating margin | 9900 | €42,143 | -€5,458 | -€47,601 | |
| Operating profit (loss) | 9901 | €12,485 | -€8,763 | -€21,249 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,489 | €1,075 | -€414 | -27.8% |
| Recurring financial charges | 65 | €1,489 | €1,075 | -€414 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €10,996 | -€9,839 | -€20,835 | |
| Profit (loss) for the period | 9904 | €10,996 | -€9,839 | -€20,835 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,996 | -€9,839 | -€20,835 |
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.