CAPEIT: 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.
CAPEIT
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+1073.0%), from €99,594 to €1.2m
of which Land and buildings: +€993,834
- Cash -€547,375
down €547,375 (-78.7%), from €695,341 to €147,965
mainly Investment in fixed assets (net) (-€1.1m) and Current investments (-€60,782)
- Current investments +€60,782
up €60,782 (+280.5%), from €21,666 to €82,448
- Debts after one year +€551,859
new in 2025: €551,859
- Current portion of long-term debt +€28,141
new in 2025: €28,141
- Trade debts +€24,945
up €24,945 (+481.3%), from €5,183 to €30,128
- Reserves -€16,082
down €16,082 (-2.1%), from €775,797 to €759,715
- Financial income -€532,825
down €532,825 (-95.7%), from €556,903 to €24,078
- Gross operating margin +€174,207
up €174,207, from -€125,193 to €49,014
- Taxes -€85,387
down €85,387 (-84.7%), from €100,806 to €15,419
- Depreciation +€37,540
up €37,540 (+239.1%), from €15,703 to €53,243
- Financial charges +€12,123
up €12,123 (+1242.9%), from €975 to €13,099
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 | €875,167 | €1,453,813 | +€578,646 | +66.1% |
| Fixed assets | 21/28 | €101,602 | €1,170,234 | +€1.1m | +1051.8% |
| Tangible fixed assets | 22/27 | €99,594 | €1,168,226 | +€1.1m | +1073.0% |
| Land and buildings | 22 | €93,441 | €1,087,275 | +€993,834 | +1063.6% |
| Plant, machinery and equipment | 23 | €988 | €320 | -€668 | -67.6% |
| Furniture and vehicles | 24 | €5,164 | €80,630 | +€75,466 | +1461.3% |
| Financial fixed assets | 28 | €2,008 | €2,008 | = | 0.0% |
| Current assets | 29/58 | €773,566 | €283,580 | -€489,986 | -63.3% |
| Stocks and contracts in progress | 3 | €1,947 | €1,947 | = | 0.0% |
| Stocks | 30/36 | €1,947 | €1,947 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €53,702 | €50,219 | -€3,484 | -6.5% |
| Trade receivables | 40 | €31,854 | €90 | -€31,764 | -99.7% |
| Other amounts receivable | 41 | €21,848 | €50,129 | +€28,280 | +129.4% |
| Current investments | 50/53 | €21,666 | €82,448 | +€60,782 | +280.5% |
| Cash at bank and in hand | 54/58 | €695,341 | €147,965 | -€547,375 | -78.7% |
| Deferred charges and accrued income | 490/1 | €910 | €1,000 | +€90 | +9.9% |
| Total equity and liabilities | 10/49 | €875,167 | €1,453,813 | +€578,646 | +66.1% |
| Equity | 10/15 | €794,389 | €778,307 | -€16,082 | -2.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €775,797 | €759,715 | -€16,082 | -2.1% |
| Distributable reserves | 133 | €775,797 | €759,715 | -€16,082 | -2.1% |
| Amounts payable | 17/49 | €80,778 | €675,506 | +€594,728 | +736.3% |
| Amounts payable after more than one year | 17 | - | €551,859 | +€551,859 | |
| Financial debts | 170/4 | - | €551,859 | +€551,859 | |
| Amounts payable within one year | 42/48 | €80,778 | €123,647 | +€42,869 | +53.1% |
| Current portion of amounts payable after more than one year | 42 | - | €28,141 | +€28,141 | |
| Trade debts | 44 | €5,183 | €30,128 | +€24,945 | +481.3% |
| Suppliers | 440/4 | €5,183 | €30,128 | +€24,945 | +481.3% |
| Taxes, remuneration and social security | 45 | €52,501 | €49,343 | -€3,158 | -6.0% |
| Taxes | 450/3 | €52,501 | €49,343 | -€3,158 | -6.0% |
| Other amounts payable | 47/48 | €23,094 | €16,035 | -€7,058 | -30.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,703 | €53,243 | +€37,540 | +239.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €487 | - | -€487 | |
| Other operating charges | 640/8 | €13,499 | €7,414 | -€6,085 | -45.1% |
| Gross operating margin | 9900 | -€125,193 | €49,014 | +€174,207 | |
| Operating profit (loss) | 9901 | -€154,883 | -€11,643 | +€143,239 | +92.5% |
| Financial income | 75/76B | €556,903 | €24,078 | -€532,825 | -95.7% |
| Recurring financial income | 75 | €556,903 | €24,078 | -€532,825 | -95.7% |
| Financial charges | 65/66B | €975 | €13,099 | +€12,123 | +1242.9% |
| Recurring financial charges | 65 | €975 | €13,099 | +€12,123 | +1242.9% |
| Profit (loss) for the period before taxes | 9903 | €401,045 | -€663 | -€401,708 | |
| Income taxes | 67/77 | €100,806 | €15,419 | -€85,387 | -84.7% |
| Profit (loss) for the period | 9904 | €300,239 | -€16,082 | -€316,321 | |
| Profit (loss) for the period to be appropriated | 9905 | €300,239 | -€16,082 | -€316,321 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.