CAPELLA: 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.
What changed
CAPELLA
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€41,117
2024 · €32,684+€8,433
Equity
€13.9m
2024 · €13.9m-€7,427
Cash
€18,152
2024 · €2,576+€15,576
Balance sheet total
€25.5m
2024 · €25.2m+€364,033
Largest movements
Assets
- Receivables within one year +€896,051
up €896,051 (+136%), from €659,107 to €1.6m
of which Other amounts receivable: +€778,385
- Tangible fixed assets -€443,507
down €443,507 (-2.0%), from €22.5m to €22.1m
Equity and liabilities
- Other debts +€965,928
up €965,928 (+83.8%), from €1.2m to €2.1m
- Debts after one year -€714,932
down €714,932 (-8.6%), from €8.3m to €7.6m
- Trade debts +€412,510
up €412,510 (+130%), from €316,791 to €729,301
- Provisions -€358,350
down €358,350 (-53.6%), from €668,134 to €309,784
Income statement
- Gross operating margin +€95,476
up €95,476 (+8.8%), from €1.1m to €1.2m
- Financial charges +€85,082
up €85,082 (+13.4%), from €632,591 to €717,673
- Other operating charges -€22,114
down €22,114 (-90.1%), from €24,536 to €2,422
- Taxes +€13,706
new in 2025: €13,706
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.
Result 2024
€32,684
Gross operating margin
+€95,476
Depreciation
-€8,023
Other operating charges
+€22,114
Financial income
-€2,346
Financial charges
-€85,082
Taxes
-€13,706
Result 2025
€41,117
raises the resultlowers the result
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.
From operations
+€748,509
Investment
-€31,400
Financing
-€701,533
Cash 2024
€2,576
From operations (derived)
+€748,509
Net result for the year
+€41,117
Depreciation
+€474,906
Receivables after one year
-€53,916
Receivables within one year
-€896,051
Deferred charges and accrued income
+€158,004
Provisions
-€358,350
Trade debts
+€412,510
Tax, wage and social debts
-€121,065
Advances received
+€110,000
Other debts
+€965,928
Accrued charges and deferred income
+€15,426
Investment (derived)
-€31,400
Investment in fixed assets (net)
-€31,400
Financing
-€701,533
Debts after one year
-€714,932
Current portion of long-term debt
+€115,071
Short-term financial debts
-€53,128
Contributions, distributions and other
-€48,544
Cash 2025
€18,152
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,153,782 | €25,517,814 | +€364,033 | +1.4% |
| Fixed assets | 21/28 | €22,513,092 | €22,069,585 | -€443,507 | -2.0% |
| Tangible fixed assets | 22/27 | €22,513,092 | €22,069,585 | -€443,507 | -2.0% |
| Land and buildings | 22 | €22,513,092 | €22,069,585 | -€443,507 | -2.0% |
| Current assets | 29/58 | €2,640,690 | €3,448,229 | +€807,539 | +30.6% |
| Amounts receivable after more than one year | 29 | €1,567,980 | €1,621,896 | +€53,916 | +3.4% |
| Trade receivables | 290 | €1,567,980 | €1,621,896 | +€53,916 | +3.4% |
| Amounts receivable within one year | 40/41 | €659,107 | €1,555,158 | +€896,051 | +136% |
| Trade receivables | 40 | €512,495 | €630,160 | +€117,665 | +23.0% |
| Other amounts receivable | 41 | €146,612 | €924,997 | +€778,385 | +531% |
| Cash at bank and in hand | 54/58 | €2,576 | €18,152 | +€15,576 | +605% |
| Deferred charges and accrued income | 490/1 | €411,027 | €253,024 | -€158,004 | -38.4% |
| Total equity and liabilities | 10/49 | €25,153,782 | €25,517,814 | +€364,033 | +1.4% |
| Equity | 10/15 | €13,882,094 | €13,874,667 | -€7,427 | -0.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Contributions outside capital | 11 | €62,000 | €62,000 | = | 0.0% |
| Other | 1109/19 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €13,806,446 | €13,806,446 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,449 | €21 | -€7,427 | -99.7% |
| Provisions and deferred taxes | 16 | €668,134 | €309,784 | -€358,350 | -53.6% |
| Provisions for liabilities and charges | 160/5 | €668,134 | €309,784 | -€358,350 | -53.6% |
| Major repairs and maintenance | 162 | €668,134 | €309,784 | -€358,350 | -53.6% |
| Amounts payable | 17/49 | €10,603,554 | €11,333,364 | +€729,810 | +6.9% |
| Amounts payable after more than one year | 17 | €8,341,512 | €7,626,580 | -€714,932 | -8.6% |
| Financial debts | 170/4 | €8,341,512 | €7,626,580 | -€714,932 | -8.6% |
| Amounts payable within one year | 42/48 | €2,127,383 | €3,556,699 | +€1.4m | +67.2% |
| Current portion of amounts payable after more than one year | 42 | €282,516 | €397,587 | +€115,071 | +40.7% |
| Financial debts | 43 | €53,128 | €0 | -€53,128 | -100% |
| Credit institutions | 430/8 | €53,128 | €0 | -€53,128 | -100% |
| Trade debts | 44 | €316,791 | €729,301 | +€412,510 | +130% |
| Suppliers | 440/4 | €316,791 | €729,301 | +€412,510 | +130% |
| Advances received on contracts in progress | 46 | €76,667 | €186,667 | +€110,000 | +143% |
| Taxes, remuneration and social security | 45 | €246,086 | €125,021 | -€121,065 | -49.2% |
| Taxes | 450/3 | €246,086 | €125,021 | -€121,065 | -49.2% |
| Other amounts payable | 47/48 | €1,152,196 | €2,118,123 | +€965,928 | +83.8% |
| Accrued charges and deferred income | 492/3 | €134,659 | €150,085 | +€15,426 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €466,883 | €474,906 | +€8,023 | +1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €24,536 | €2,422 | -€22,114 | -90.1% |
| Gross operating margin | 9900 | €1,087,023 | €1,182,499 | +€95,476 | +8.8% |
| Operating profit (loss) | 9901 | €595,604 | €705,171 | +€109,566 | +18.4% |
| Financial income | 75/76B | €69,671 | €67,325 | -€2,346 | -3.4% |
| Recurring financial income | 75 | €69,671 | €67,325 | -€2,346 | -3.4% |
| Financial charges | 65/66B | €632,591 | €717,673 | +€85,082 | +13.4% |
| Recurring financial charges | 65 | €632,591 | €717,673 | +€85,082 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | €32,684 | €54,823 | +€22,139 | +67.7% |
| Income taxes | 67/77 | - | €13,706 | +€13,706 | |
| Profit (loss) for the period | 9904 | €32,684 | €41,117 | +€8,433 | +25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,684 | €41,117 | +€8,433 | +25.8% |
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.