CAPELLE: 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.
CAPELLE
Largest movements
- Deferred charges and accrued income -€77,559
down €77,559 (-94.3%), from €82,238 to €4,679
- Tangible fixed assets -€59,893
down €59,893 (-17.0%), from €351,542 to €291,649
- Receivables within one year +€21,797
up €21,797 (+225.1%), from €9,682 to €31,479
of which Trade receivables: +€22,197
- Cash +€10,522
up €10,522 (+38.1%), from €27,595 to €38,117
mainly Deferred charges and accrued income (+€77,559) and Depreciation (+€61,998)
- Trade debts -€39,057
down €39,057 (-77.3%), from €50,550 to €11,493
- Debts after one year -€38,572
down €38,572 (-43.8%), from €88,154 to €49,581
- Profit (loss) carried forward +€21,790
up €21,790 (+25.4%), from €85,857 to €107,647
- Reserves -€18,421
down €18,421 (-14.3%), from €128,915 to €110,493
of which Tax-exempt reserves: -€18,421
- Current portion of long-term debt -€15,903
down €15,903 (-29.2%), from €54,476 to €38,572
- Gross operating margin +€19,266
up €19,266 (+32.6%), from €59,065 to €78,331
- Taxes +€8,003
up €8,003 (+609.0%), from €1,314 to €9,318
- Other operating charges -€4,129
down €4,129 (-39.3%), from €10,503 to €6,374
- Financial income -€2,753
down €2,753 (-97.2%), from €2,833 to €80
- Depreciation -€2,233
down €2,233 (-3.5%), from €64,231 to €61,998
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 | €473,081 | €368,310 | -€104,772 | -22.1% |
| Fixed assets | 21/28 | €351,542 | €291,649 | -€59,893 | -17.0% |
| Tangible fixed assets | 22/27 | €351,542 | €291,649 | -€59,893 | -17.0% |
| Land and buildings | 22 | €235,230 | €215,681 | -€19,549 | -8.3% |
| Plant, machinery and equipment | 23 | €65,403 | €46,744 | -€18,659 | -28.5% |
| Furniture and vehicles | 24 | €50,909 | €29,224 | -€21,685 | -42.6% |
| Current assets | 29/58 | €121,539 | €76,660 | -€44,879 | -36.9% |
| Stocks and contracts in progress | 3 | €2,023 | €2,385 | +€362 | +17.9% |
| Stocks | 30/36 | €2,023 | €2,385 | +€362 | +17.9% |
| Amounts receivable within one year | 40/41 | €9,682 | €31,479 | +€21,797 | +225.1% |
| Trade receivables | 40 | €8,473 | €30,671 | +€22,197 | +262.0% |
| Other amounts receivable | 41 | €1,209 | €809 | -€400 | -33.1% |
| Cash at bank and in hand | 54/58 | €27,595 | €38,117 | +€10,522 | +38.1% |
| Deferred charges and accrued income | 490/1 | €82,238 | €4,679 | -€77,559 | -94.3% |
| Total equity and liabilities | 10/49 | €473,081 | €368,310 | -€104,772 | -22.1% |
| Equity | 10/15 | €233,372 | €236,740 | +€3,368 | +1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €128,915 | €110,493 | -€18,421 | -14.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €71,780 | €53,358 | -€18,421 | -25.7% |
| Distributable reserves | 133 | €55,275 | €55,275 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,857 | €107,647 | +€21,790 | +25.4% |
| Provisions and deferred taxes | 16 | €23,927 | €17,786 | -€6,140 | -25.7% |
| Deferred taxes | 168 | €23,927 | €17,786 | -€6,140 | -25.7% |
| Amounts payable | 17/49 | €215,782 | €113,783 | -€101,999 | -47.3% |
| Amounts payable after more than one year | 17 | €88,154 | €49,581 | -€38,572 | -43.8% |
| Financial debts | 170/4 | €88,154 | €49,581 | -€38,572 | -43.8% |
| Amounts payable within one year | 42/48 | €122,324 | €63,910 | -€58,415 | -47.8% |
| Current portion of amounts payable after more than one year | 42 | €54,476 | €38,572 | -€15,903 | -29.2% |
| Trade debts | 44 | €50,550 | €11,493 | -€39,057 | -77.3% |
| Suppliers | 440/4 | €50,550 | €11,493 | -€39,057 | -77.3% |
| Taxes, remuneration and social security | 45 | €3,058 | €11,449 | +€8,391 | +274.4% |
| Taxes | 450/3 | €3,058 | €11,449 | +€8,391 | +274.4% |
| Other amounts payable | 47/48 | €14,240 | €2,395 | -€11,845 | -83.2% |
| Accrued charges and deferred income | 492/3 | €5,304 | €292 | -€5,012 | -94.5% |
| Remuneration, social security and pensions | 62 | €1,382 | - | -€1,382 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,231 | €61,998 | -€2,233 | -3.5% |
| Other operating charges | 640/8 | €10,503 | €6,374 | -€4,129 | -39.3% |
| Non-recurring operating charges | 66A | €1,424 | - | -€1,424 | |
| Gross operating margin | 9900 | €59,065 | €78,331 | +€19,266 | +32.6% |
| Operating profit (loss) | 9901 | -€18,475 | €9,959 | +€28,434 | |
| Financial income | 75/76B | €2,833 | €80 | -€2,753 | -97.2% |
| Recurring financial income | 75 | €2,833 | €80 | -€2,753 | -97.2% |
| Financial charges | 65/66B | €4,808 | €3,494 | -€1,313 | -27.3% |
| Recurring financial charges | 65 | €4,808 | €3,494 | -€1,313 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | -€20,449 | €6,545 | +€26,995 | |
| Transfer from deferred taxes | 780 | €6,753 | €6,140 | -€613 | -9.1% |
| Income taxes | 67/77 | €1,314 | €9,318 | +€8,003 | +609.0% |
| Profit (loss) for the period | 9904 | -€15,010 | €3,368 | +€18,379 | |
| Transfer from tax-exempt reserves | 789 | €20,259 | €18,421 | -€1,838 | -9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,249 | €21,790 | +€16,541 | +315.1% |
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 3 October 2026 via checked.be.