Cape One: 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.
Cape One
Largest movements
- Tangible fixed assets -€51,740
down €51,740 (-23.8%), from €216,961 to €165,221
of which Land and buildings: -€29,055
- Receivables within one year +€20,930
up €20,930 (+3.0%), from €694,902 to €715,832
of which Trade receivables: +€20,930
- Debts after one year +€59,356
up €59,356 (+14.2%), from €418,342 to €477,698
of which Financial debts: +€59,356
- Profit (loss) carried forward -€37,611
down €37,611 (-4.8%), from €787,715 to €750,104
- Tax, wage and social debts -€30,246
down €30,246 (-54.8%), from €55,150 to €24,904
of which Remuneration and social security: -€41,326
- Gross operating margin +€42,103
up €42,103 (+185.6%), from €22,683 to €64,786
- Other operating charges +€8,483
up €8,483 (+68.2%), from €12,435 to €20,918
- Financial charges +€4,658
up €4,658 (+22.8%), from €20,409 to €25,067
- Depreciation -€1,025
down €1,025 (-1.8%), from €57,165 to €56,140
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 | €1,392,184 | €1,360,691 | -€31,493 | -2.3% |
| Fixed assets | 21/28 | €223,408 | €171,668 | -€51,740 | -23.2% |
| Tangible fixed assets | 22/27 | €216,961 | €165,221 | -€51,740 | -23.8% |
| Land and buildings | 22 | €155,614 | €126,559 | -€29,055 | -18.7% |
| Furniture and vehicles | 24 | €61,347 | €38,662 | -€22,685 | -37.0% |
| Financial fixed assets | 28 | €6,447 | €6,447 | = | 0.0% |
| Current assets | 29/58 | €1,168,776 | €1,189,022 | +€20,246 | +1.7% |
| Amounts receivable after more than one year | 29 | €399,381 | €399,381 | = | 0.0% |
| Other amounts receivable | 291 | €399,381 | €399,381 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €694,902 | €715,832 | +€20,930 | +3.0% |
| Trade receivables | 40 | €107,193 | €128,124 | +€20,930 | +19.5% |
| Other amounts receivable | 41 | €587,708 | €587,708 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €61,135 | €64,745 | +€3,610 | +5.9% |
| Deferred charges and accrued income | 490/1 | €13,358 | €9,064 | -€4,294 | -32.1% |
| Total equity and liabilities | 10/49 | €1,392,184 | €1,360,691 | -€31,493 | -2.3% |
| Equity | 10/15 | €809,715 | €772,104 | -€37,611 | -4.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €787,715 | €750,104 | -€37,611 | -4.8% |
| Amounts payable | 17/49 | €582,469 | €588,587 | +€6,118 | +1.1% |
| Amounts payable after more than one year | 17 | €418,342 | €477,698 | +€59,356 | +14.2% |
| Financial debts | 170/4 | €403,332 | €462,688 | +€59,356 | +14.7% |
| Other amounts payable | 178/9 | €15,010 | €15,010 | = | 0.0% |
| Amounts payable within one year | 42/48 | €164,127 | €110,889 | -€53,237 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €77,016 | €71,128 | -€5,888 | -7.6% |
| Trade debts | 44 | €15,995 | €11,388 | -€4,607 | -28.8% |
| Suppliers | 440/4 | €15,995 | €11,388 | -€4,607 | -28.8% |
| Taxes, remuneration and social security | 45 | €55,150 | €24,904 | -€30,246 | -54.8% |
| Taxes | 450/3 | €13,824 | €24,904 | +€11,080 | +80.1% |
| Remuneration and social security | 454/9 | €41,326 | €0 | -€41,326 | -100.0% |
| Other amounts payable | 47/48 | €15,966 | €3,470 | -€12,496 | -78.3% |
| Non-recurring operating income | 76A | €0 | €0 | -€0 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,165 | €56,140 | -€1,025 | -1.8% |
| Other operating charges | 640/8 | €12,435 | €20,918 | +€8,483 | +68.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €22,683 | €64,786 | +€42,103 | +185.6% |
| Operating profit (loss) | 9901 | -€46,916 | -€12,272 | +€34,645 | +73.8% |
| Financial income | 75/76B | €10 | €24 | +€15 | +153.8% |
| Recurring financial income | 75 | €10 | €24 | +€15 | +153.8% |
| Financial charges | 65/66B | €20,409 | €25,067 | +€4,658 | +22.8% |
| Recurring financial charges | 65 | €20,409 | €25,067 | +€4,658 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | -€67,316 | -€37,314 | +€30,002 | +44.6% |
| Income taxes | 67/77 | €326 | €298 | -€29 | -8.8% |
| Profit (loss) for the period | 9904 | -€67,642 | -€37,611 | +€30,031 | +44.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€67,642 | -€37,611 | +€30,031 | +44.4% |
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 6 October 2026 via checked.be.