CAPENTI: 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
CAPENTI
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.1m
2024 · -€516,069-€588,726
Equity
€20.5m
2024 · €21.0m-€498,395
Cash
€45,449
2024 · €70,852-€25,403
Balance sheet total
€49.5m
2024 · €43.3m+€6.2m
Largest movements
Assets
- Financial fixed assets +€6.3m
up €6.3m (+14.8%), from €42.5m to €48.8m
Equity and liabilities
- Other debts +€5.9m
up €5.9m (+369%), from €1.6m to €7.5m
- Profit (loss) carried forward -€1.1m
down €1.1m (-18.2%), from €6.1m to €5.0m
- Current portion of long-term debt +€616,000
up €616,000 (+21.9%), from €2.8m to €3.4m
- Contributions +€606,400
up €606,400 (+4.1%), from €14.6m to €15.2m
of which Contributions outside capital: +€606,400
Income statement
- Services and other goods +€444,615
up €444,615 (+31.1%), from €1.4m to €1.9m
- Financial charges +€358,357
up €358,357 (+56.6%), from €632,969 to €991,326
- Turnover +€244,868
up €244,868 (+16.2%), from €1.5m to €1.8m
- Financial income -€23,935
down €23,935 (-68.1%), from €35,164 to €11,229
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
-€516,069
Turnover
+€244,868
Services and other goods
-€444,615
Depreciation
-€7,052
Other operating charges
+€365
Financial income
-€23,935
Financial charges
-€358,357
Result 2025
-€1.1m
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
+€4.9m
Investment
-€6.3m
Financing
+€1.4m
Cash 2024
€70,852
From operations (derived)
+€4.9m
Net result for the year
-€1.1m
Depreciation
+€7,052
Receivables within one year
+€131,777
Smaller working-capital items
+€1,875
Trade debts
-€57,228
Other debts
+€5.9m
Accrued charges and deferred income
+€87,695
Investment (derived)
-€6.3m
Investment in fixed assets (net)
-€6.3m
Financing
+€1.4m
Debts after one year
+€170,317
Current portion of long-term debt
+€616,000
Contributions, distributions and other
+€606,400
Cash 2025
€45,449
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,282,665 | €49,468,836 | +€6.2m | +14.3% |
| Fixed assets | 21/28 | €42,493,597 | €48,836,024 | +€6.3m | +14.9% |
| Intangible fixed assets | 21 | - | €59,427 | +€59,427 | |
| Financial fixed assets | 28 | €42,493,597 | €48,776,597 | +€6.3m | +14.8% |
| Affiliated companies | 280/1 | €42,493,597 | €48,776,597 | +€6.3m | +14.8% |
| Participating interests | 280 | €42,493,597 | €48,776,597 | +€6.3m | +14.8% |
| Current assets | 29/58 | €789,068 | €632,812 | -€156,256 | -19.8% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €696,293 | €564,515 | -€131,777 | -18.9% |
| Trade receivables | 40 | €181,806 | €177,778 | -€4,028 | -2.2% |
| Other amounts receivable | 41 | €514,487 | €386,738 | -€127,749 | -24.8% |
| Cash at bank and in hand | 54/58 | €70,852 | €45,449 | -€25,403 | -35.9% |
| Deferred charges and accrued income | 490/1 | €21,923 | €22,847 | +€925 | +4.2% |
| Total equity and liabilities | 10/49 | €43,282,665 | €49,468,836 | +€6.2m | +14.3% |
| Equity | 10/15 | €21,043,272 | €20,544,877 | -€498,395 | -2.4% |
| Contributions | 10/11 | €14,614,021 | €15,220,421 | +€606,400 | +4.1% |
| Capital | 10 | €13,654,992 | €13,654,992 | +€0 | 0.0% |
| Issued capital | 100 | €13,654,992 | €13,654,992 | +€0 | 0.0% |
| Contributions outside capital | 11 | €959,029 | €1,565,429 | +€606,400 | +63.2% |
| Other | 1109/19 | €959,029 | €1,565,429 | +€606,400 | +63.2% |
| Reserves | 13 | €349,679 | €349,679 | = | 0.0% |
| Non-distributable reserves | 130/1 | €349,679 | €349,679 | = | 0.0% |
| Legal reserve | 130 | €349,679 | €349,679 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,079,572 | €4,974,777 | -€1.1m | -18.2% |
| Amounts payable | 17/49 | €22,239,393 | €28,923,959 | +€6.7m | +30.1% |
| Amounts payable after more than one year | 17 | €17,629,526 | €17,799,843 | +€170,317 | +1.0% |
| Financial debts | 170/4 | €17,629,526 | €17,799,843 | +€170,317 | +1.0% |
| Credit institutions | 173 | €16,725,000 | €16,841,000 | +€116,000 | +0.7% |
| Other loans | 174 | €904,526 | €958,843 | +€54,317 | +6.0% |
| Amounts payable within one year | 42/48 | €4,495,799 | €10,922,354 | +€6.4m | +143% |
| Current portion of amounts payable after more than one year | 42 | €2,810,000 | €3,426,000 | +€616,000 | +21.9% |
| Trade debts | 44 | €96,341 | €39,113 | -€57,228 | -59.4% |
| Suppliers | 440/4 | €96,341 | €39,113 | -€57,228 | -59.4% |
| Taxes, remuneration and social security | 45 | - | €2,800 | +€2,800 | |
| Taxes | 450/3 | - | €2,800 | +€2,800 | |
| Other amounts payable | 47/48 | €1,589,458 | €7,454,440 | +€5.9m | +369% |
| Accrued charges and deferred income | 492/3 | €114,068 | €201,763 | +€87,695 | +76.9% |
| Operating income | 70/76A | €1,514,894 | €1,759,762 | +€244,868 | +16.2% |
| Turnover | 70 | €1,514,894 | €1,759,762 | +€244,868 | +16.2% |
| Operating charges | 60/66A | €1,433,158 | €1,884,460 | +€451,301 | +31.5% |
| Services and other goods | 61 | €1,431,500 | €1,876,115 | +€444,615 | +31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €7,052 | +€7,052 | |
| Other operating charges | 640/8 | €1,658 | €1,293 | -€365 | -22.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €81,736 | -€124,698 | -€206,434 | |
| Financial income | 75/76B | €35,164 | €11,229 | -€23,935 | -68.1% |
| Recurring financial income | 75 | €35,164 | €11,229 | -€23,935 | -68.1% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €35,164 | €11,229 | -€23,935 | -68.1% |
| Other financial income | 752/9 | €0 | - | = | |
| Financial charges | 65/66B | €632,969 | €991,326 | +€358,357 | +56.6% |
| Recurring financial charges | 65 | €632,969 | €991,326 | +€358,357 | +56.6% |
| Debt charges | 650 | €622,513 | €980,151 | +€357,638 | +57.5% |
| Other financial charges | 652/9 | €10,456 | €11,176 | +€720 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | -€516,069 | -€1,104,795 | -€588,726 | -114% |
| Profit (loss) for the period | 9904 | -€516,069 | -€1,104,795 | -€588,726 | -114% |
| Profit (loss) for the period to be appropriated | 9905 | -€516,069 | -€1,104,795 | -€588,726 | -114% |
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 25 October 2026 via checked.be.