CAPÉAU: 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.
CAPÉAU
Largest movements
- Tangible fixed assets +€64,052
up €64,052 (+227%), from €28,270 to €92,322
of which Land and buildings: +€40,814
- Cash +€1,988
up €1,988 (+4.9%), from €40,754 to €42,742
mainly Debts after one year (+€62,573) and Depreciation (+€15,544)
- Debts after one year +€62,573
new in 2025: €62,573
- Current portion of long-term debt +€12,082
new in 2025: €12,082
- Trade debts -€8,964
down €8,964 (-45.6%), from €19,667 to €10,703
- Staff costs -€16,581
down €16,581 (-9.5%), from €173,731 to €157,150
- Depreciation +€8,857
up €8,857 (+132%), from €6,687 to €15,544
- Gross operating margin +€5,939
up €5,939 (+3.3%), from €178,905 to €184,844
- Financial charges +€2,387
up €2,387 (+291%), from €819 to €3,207
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 | €77,672 | €143,917 | +€66,245 | +85.3% |
| Fixed assets | 21/28 | €28,270 | €92,322 | +€64,052 | +227% |
| Tangible fixed assets | 22/27 | €28,270 | €92,322 | +€64,052 | +227% |
| Land and buildings | 22 | €7,382 | €48,196 | +€40,814 | +553% |
| Plant, machinery and equipment | 23 | €20,888 | €19,562 | -€1,326 | -6.3% |
| Furniture and vehicles | 24 | - | €24,564 | +€24,564 | |
| Current assets | 29/58 | €49,402 | €51,595 | +€2,193 | +4.4% |
| Stocks and contracts in progress | 3 | €4,104 | €4,855 | +€751 | +18.3% |
| Stocks | 30/36 | €4,104 | €4,855 | +€751 | +18.3% |
| Amounts receivable within one year | 40/41 | €2,648 | €2,446 | -€202 | -7.6% |
| Trade receivables | 40 | €2,439 | €2,147 | -€292 | -12.0% |
| Other amounts receivable | 41 | €209 | €299 | +€90 | +42.8% |
| Cash at bank and in hand | 54/58 | €40,754 | €42,742 | +€1,988 | +4.9% |
| Deferred charges and accrued income | 490/1 | €1,895 | €1,551 | -€344 | -18.2% |
| Total equity and liabilities | 10/49 | €77,672 | €143,917 | +€66,245 | +85.3% |
| Equity | 10/15 | €17,172 | €17,601 | +€430 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,920 | €11,920 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €10,060 | €10,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,348 | -€12,918 | +€430 | +3.2% |
| Amounts payable | 17/49 | €60,500 | €126,315 | +€65,815 | +109% |
| Amounts payable after more than one year | 17 | - | €62,573 | +€62,573 | |
| Financial debts | 170/4 | - | €62,573 | +€62,573 | |
| Amounts payable within one year | 42/48 | €60,500 | €63,743 | +€3,242 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | - | €12,082 | +€12,082 | |
| Trade debts | 44 | €19,667 | €10,703 | -€8,964 | -45.6% |
| Suppliers | 440/4 | €19,667 | €10,703 | -€8,964 | -45.6% |
| Taxes, remuneration and social security | 45 | €10,987 | €11,112 | +€125 | +1.1% |
| Taxes | 450/3 | €2,811 | €4,872 | +€2,061 | +73.3% |
| Remuneration and social security | 454/9 | €8,176 | €6,240 | -€1,936 | -23.7% |
| Other amounts payable | 47/48 | €29,846 | €29,846 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €173,731 | €157,150 | -€16,581 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,687 | €15,544 | +€8,857 | +132% |
| Other operating charges | 640/8 | €7,223 | €8,514 | +€1,291 | +17.9% |
| Gross operating margin | 9900 | €178,905 | €184,844 | +€5,939 | +3.3% |
| Operating profit (loss) | 9901 | -€8,736 | €3,636 | +€12,372 | |
| Financial charges | 65/66B | €819 | €3,207 | +€2,387 | +291% |
| Recurring financial charges | 65 | €819 | €3,207 | +€2,387 | +291% |
| Profit (loss) for the period before taxes | 9903 | -€9,555 | €430 | +€9,985 | |
| Profit (loss) for the period | 9904 | -€9,555 | €430 | +€9,985 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,555 | €430 | +€9,985 |
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 15 October 2026 via checked.be.