Capelle Invest: 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.
Capelle Invest
Largest movements
- Stocks and contracts -€772,982
down €772,982 (-100.0%), from €772,982 to €0
- Tangible fixed assets +€225,418
up €225,418 (+24.6%), from €917,219 to €1.1m
- Short-term financial debts -€1.2m
down €1.2m (-100.0%), from €1.2m to €0
of which Credit institutions: -€1.2m
- Debts after one year +€748,961
up €748,961, from €0 to €748,961
- Trade debts -€171,039
down €171,039 (-94.3%), from €181,422 to €10,383
- Reserves +€78,835
up €78,835 (+12.7%), from €622,532 to €701,367
of which Distributable reserves: +€78,835
- Current portion of long-term debt +€26,039
up €26,039, from €0 to €26,039
- Gross operating margin -€564,710
down €564,710 (-76.2%), from €741,043 to €176,333
- Taxes -€159,204
down €159,204 (-93.8%), from €169,714 to €10,509
- Financial charges -€83,806
down €83,806 (-91.8%), from €91,334 to €7,528
- Depreciation -€60,701
down €60,701 (-87.7%), from €69,232 to €8,531
- Other operating charges -€11,985
down €11,985 (-91.4%), from €13,115 to €1,130
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 | €2,108,503 | €1,554,998 | -€553,506 | -26.3% |
| Fixed assets | 21/28 | €917,429 | €1,142,847 | +€225,418 | +24.6% |
| Tangible fixed assets | 22/27 | €917,219 | €1,142,637 | +€225,418 | +24.6% |
| Land and buildings | 22 | €917,219 | €1,142,637 | +€225,418 | +24.6% |
| Financial fixed assets | 28 | €210 | €210 | = | 0.0% |
| Current assets | 29/58 | €1,191,074 | €412,150 | -€778,924 | -65.4% |
| Stocks and contracts in progress | 3 | €772,982 | €0 | -€772,982 | -100.0% |
| Stocks | 30/36 | €772,982 | €0 | -€772,982 | -100.0% |
| Amounts receivable within one year | 40/41 | €275,795 | €255,719 | -€20,076 | -7.3% |
| Other amounts receivable | 41 | €275,795 | €255,719 | -€20,076 | -7.3% |
| Cash at bank and in hand | 54/58 | €142,297 | €156,432 | +€14,134 | +9.9% |
| Total equity and liabilities | 10/49 | €2,108,503 | €1,554,998 | -€553,506 | -26.3% |
| Equity | 10/15 | €641,532 | €720,367 | +€78,835 | +12.3% |
| Contributions | 10/11 | €19,000 | €19,000 | -€0 | 0.0% |
| Reserves | 13 | €622,532 | €701,367 | +€78,835 | +12.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €145,557 | €145,557 | = | 0.0% |
| Distributable reserves | 133 | €476,975 | €555,810 | +€78,835 | +16.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €38,396 | €38,396 | = | 0.0% |
| Deferred taxes | 168 | €38,396 | €38,396 | = | 0.0% |
| Amounts payable | 17/49 | €1,428,575 | €796,235 | -€632,340 | -44.3% |
| Amounts payable after more than one year | 17 | €0 | €748,961 | +€748,961 | |
| Financial debts | 170/4 | €0 | €748,961 | +€748,961 | |
| Amounts payable within one year | 42/48 | €1,428,575 | €46,485 | -€1.4m | -96.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | €26,039 | +€26,039 | |
| Financial debts | 43 | €1,232,426 | €0 | -€1.2m | -100.0% |
| Credit institutions | 430/8 | €1,232,426 | €0 | -€1.2m | -100.0% |
| Other loans | 439 | - | €0 | = | |
| Trade debts | 44 | €181,422 | €10,383 | -€171,039 | -94.3% |
| Suppliers | 440/4 | €181,422 | €10,383 | -€171,039 | -94.3% |
| Taxes, remuneration and social security | 45 | €5,147 | €0 | -€5,147 | -100.0% |
| Taxes | 450/3 | €5,147 | €0 | -€5,147 | -100.0% |
| Other amounts payable | 47/48 | €9,580 | €10,063 | +€483 | +5.0% |
| Accrued charges and deferred income | 492/3 | - | €789 | +€789 | |
| Non-recurring operating income | 76A | €10,063 | €8,331 | -€1,731 | -17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,232 | €8,531 | -€60,701 | -87.7% |
| Other operating charges | 640/8 | €13,115 | €1,130 | -€11,985 | -91.4% |
| Non-recurring operating charges | 66A | - | €76,041 | +€76,041 | |
| Gross operating margin | 9900 | €741,043 | €176,333 | -€564,710 | -76.2% |
| Operating profit (loss) | 9901 | €658,695 | €90,630 | -€568,065 | -86.2% |
| Financial income | 75/76B | €0 | €6,241 | +€6,241 | |
| Recurring financial income | 75 | €0 | €6,241 | +€6,241 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €91,334 | €7,528 | -€83,806 | -91.8% |
| Recurring financial charges | 65 | €91,334 | €7,528 | -€83,806 | -91.8% |
| Profit (loss) for the period before taxes | 9903 | €567,362 | €89,344 | -€478,018 | -84.3% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €169,714 | €10,509 | -€159,204 | -93.8% |
| Profit (loss) for the period | 9904 | €397,648 | €78,835 | -€318,813 | -80.2% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €397,648 | €78,835 | -€318,813 | -80.2% |
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 12 October 2026 via checked.be.