CAPE-3: 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.
CAPE-3
Largest movements
- Cash +€89,786
up €89,786 (+322.4%), from €27,851 to €117,637
mainly Net result for the year (+€113,165) and Depreciation (+€31,446)
- Tangible fixed assets -€30,859
down €30,859 (-9.7%), from €319,230 to €288,371
of which Land and buildings: -€16,277
- Profit (loss) carried forward +€113,165
up €113,165 (+58.3%), from €194,128 to €307,293
- Other debts -€29,810
down €29,810 (-38.1%), from €78,175 to €48,366
- Current portion of long-term debt -€15,187
down €15,187 (-81.3%), from €18,681 to €3,494
- Gross operating margin +€167,943
up €167,943 (+682.0%), from €24,624 to €192,567
- Taxes +€40,088
up €40,088 (+6025.7%), from €665 to €40,753
- Depreciation -€9,827
down €9,827 (-23.8%), from €41,273 to €31,446
- Other operating charges +€6,573
up €6,573 (+178.2%), from €3,688 to €10,262
- Write-downs -€3,896
new in 2025: -€3,896
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 | €384,237 | €446,078 | +€61,840 | +16.1% |
| Fixed assets | 21/28 | €321,811 | €290,127 | -€31,684 | -9.8% |
| Intangible fixed assets | 21 | €2,581 | €1,756 | -€825 | -32.0% |
| Tangible fixed assets | 22/27 | €319,230 | €288,371 | -€30,859 | -9.7% |
| Land and buildings | 22 | €303,691 | €287,413 | -€16,277 | -5.4% |
| Furniture and vehicles | 24 | €15,539 | €957 | -€14,582 | -93.8% |
| Current assets | 29/58 | €62,427 | €155,951 | +€93,524 | +149.8% |
| Amounts receivable within one year | 40/41 | €32,625 | €32,353 | -€272 | -0.8% |
| Trade receivables | 40 | €32,625 | €32,165 | -€460 | -1.4% |
| Other amounts receivable | 41 | - | €188 | +€188 | |
| Cash at bank and in hand | 54/58 | €27,851 | €117,637 | +€89,786 | +322.4% |
| Deferred charges and accrued income | 490/1 | €1,950 | €5,960 | +€4,010 | +205.6% |
| Total equity and liabilities | 10/49 | €384,237 | €446,078 | +€61,840 | +16.1% |
| Equity | 10/15 | €269,185 | €382,350 | +€113,165 | +42.0% |
| Contributions | 10/11 | €14,352 | €14,352 | = | 0.0% |
| Reserves | 13 | €60,705 | €60,705 | = | 0.0% |
| Distributable reserves | 133 | €60,705 | €60,705 | = | 0.0% |
| Profit (loss) carried forward | 14 | €194,128 | €307,293 | +€113,165 | +58.3% |
| Amounts payable | 17/49 | €115,053 | €63,727 | -€51,325 | -44.6% |
| Amounts payable after more than one year | 17 | €3,494 | - | -€3,494 | |
| Financial debts | 170/4 | €3,494 | - | -€3,494 | |
| Amounts payable within one year | 42/48 | €111,558 | €63,727 | -€47,831 | -42.9% |
| Current portion of amounts payable after more than one year | 42 | €18,681 | €3,494 | -€15,187 | -81.3% |
| Financial debts | 43 | €216 | - | -€216 | |
| Credit institutions | 430/8 | €216 | - | -€216 | |
| Trade debts | 44 | €2,348 | €2,900 | +€552 | +23.5% |
| Suppliers | 440/4 | €2,348 | €2,900 | +€552 | +23.5% |
| Taxes, remuneration and social security | 45 | €12,137 | €8,968 | -€3,170 | -26.1% |
| Taxes | 450/3 | €12,137 | €8,968 | -€3,170 | -26.1% |
| Other amounts payable | 47/48 | €78,175 | €48,366 | -€29,810 | -38.1% |
| Non-recurring operating income | 76A | - | €7,622 | +€7,622 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,273 | €31,446 | -€9,827 | -23.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€3,896 | -€3,896 | |
| Other operating charges | 640/8 | €3,688 | €10,262 | +€6,573 | +178.2% |
| Gross operating margin | 9900 | €24,624 | €192,567 | +€167,943 | +682.0% |
| Operating profit (loss) | 9901 | -€20,338 | €154,755 | +€175,093 | |
| Financial charges | 65/66B | €1,290 | €836 | -€454 | -35.2% |
| Recurring financial charges | 65 | €1,290 | €836 | -€454 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | -€21,628 | €153,919 | +€175,547 | |
| Income taxes | 67/77 | €665 | €40,753 | +€40,088 | +6025.7% |
| Profit (loss) for the period | 9904 | -€22,293 | €113,165 | +€135,459 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,293 | €113,165 | +€135,459 |
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.