CAPENSIS: 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.
CAPENSIS
Largest movements
- Receivables within one year -€8,144
down €8,144 (-41.3%), from €19,725 to €11,581
- Cash -€3,318
down €3,318 (-4.4%), from €74,817 to €71,499
mainly Contributions, distributions and other (-€18,750) and Tax, wage and social debts (-€10,430)
- Tax, wage and social debts -€10,430
down €10,430 (-33.4%), from €31,248 to €20,818
- Profit (loss) carried forward -€4,168
down €4,168 (-6.4%), from €64,899 to €60,731
- Other debts +€3,875
new in 2025: €3,875
- Gross operating margin -€11,538
down €11,538 (-31.4%), from €36,740 to €25,202
- Taxes -€2,347
down €2,347 (-28.8%), from €8,147 to €5,800
- Financial charges -€1,148
down €1,148 (-28.7%), from €4,002 to €2,854
- Depreciation +€990
up €990 (+189.7%), from €522 to €1,512
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 | €102,168 | €91,225 | -€10,943 | -10.7% |
| Fixed assets | 21/28 | €4,035 | €3,855 | -€180 | -4.5% |
| Tangible fixed assets | 22/27 | €4,035 | €3,855 | -€180 | -4.5% |
| Furniture and vehicles | 24 | €4,035 | €3,855 | -€180 | -4.5% |
| Current assets | 29/58 | €98,133 | €87,370 | -€10,763 | -11.0% |
| Amounts receivable within one year | 40/41 | €19,725 | €11,581 | -€8,144 | -41.3% |
| Trade receivables | 40 | €19,725 | €11,581 | -€8,144 | -41.3% |
| Cash at bank and in hand | 54/58 | €74,817 | €71,499 | -€3,318 | -4.4% |
| Deferred charges and accrued income | 490/1 | €3,591 | €4,290 | +€699 | +19.5% |
| Total equity and liabilities | 10/49 | €102,168 | €91,225 | -€10,943 | -10.7% |
| Equity | 10/15 | €67,899 | €63,731 | -€4,168 | -6.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,899 | €60,731 | -€4,168 | -6.4% |
| Amounts payable | 17/49 | €34,269 | €27,494 | -€6,775 | -19.8% |
| Amounts payable within one year | 42/48 | €34,269 | €27,494 | -€6,775 | -19.8% |
| Trade debts | 44 | €3,021 | €2,801 | -€220 | -7.3% |
| Suppliers | 440/4 | €3,021 | €2,801 | -€220 | -7.3% |
| Taxes, remuneration and social security | 45 | €31,248 | €20,818 | -€10,430 | -33.4% |
| Taxes | 450/3 | €31,248 | €20,818 | -€10,430 | -33.4% |
| Other amounts payable | 47/48 | - | €3,875 | +€3,875 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €522 | €1,512 | +€990 | +189.7% |
| Other operating charges | 640/8 | €379 | €454 | +€75 | +19.8% |
| Gross operating margin | 9900 | €36,740 | €25,202 | -€11,538 | -31.4% |
| Operating profit (loss) | 9901 | €35,839 | €23,236 | -€12,603 | -35.2% |
| Financial charges | 65/66B | €4,002 | €2,854 | -€1,148 | -28.7% |
| Recurring financial charges | 65 | €4,002 | €2,854 | -€1,148 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €31,837 | €20,382 | -€11,455 | -36.0% |
| Income taxes | 67/77 | €8,147 | €5,800 | -€2,347 | -28.8% |
| Profit (loss) for the period | 9904 | €23,690 | €14,582 | -€9,108 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,690 | €14,582 | -€9,108 | -38.4% |
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 29 September 2026 via checked.be.