CAPFES: 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.
CAPFES
Largest movements
- Cash +€8,869
up €8,869 (+2,241%), from €396 to €9,265
mainly Net result for the year (+€36,011) and Depreciation (+€3,037)
- Tangible fixed assets -€2,181
down €2,181 (-30.3%), from €7,199 to €5,019
- Receivables within one year +€1,298
up €1,298 (+27.1%), from €4,794 to €6,092
- Formation expenses -€268
down €268 (-50.0%), from €537 to €268
- Profit (loss) carried forward +€36,011
up €36,011 (+43.4%), from -€82,944 to -€46,933
- Other debts -€22,718
down €22,718 (-29.7%), from €76,367 to €53,650
- Current portion of long-term debt -€2,639
no longer reported in 2025 (was €2,639)
- Trade debts -€2,347
down €2,347 (-44.0%), from €5,337 to €2,990
- Tax, wage and social debts -€405
down €405 (-4.4%), from €9,142 to €8,737
- Gross operating margin +€55,321
up €55,321, from -€12,250 to €43,071
- Financial charges +€690
up €690 (+29.0%), from €2,379 to €3,069
- Depreciation +€578
up €578 (+23.5%), from €2,459 to €3,037
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,925 | €20,828 | +€7,903 | +61.1% |
| Formation expenses | 20 | €537 | €268 | -€268 | -50.0% |
| Fixed assets | 21/28 | €7,199 | €5,019 | -€2,181 | -30.3% |
| Tangible fixed assets | 22/27 | €7,199 | €5,019 | -€2,181 | -30.3% |
| Furniture and vehicles | 24 | €7,199 | €5,019 | -€2,181 | -30.3% |
| Current assets | 29/58 | €5,189 | €15,541 | +€10,352 | +199% |
| Amounts receivable within one year | 40/41 | €4,794 | €6,092 | +€1,298 | +27.1% |
| Trade receivables | 40 | €4,794 | €6,092 | +€1,298 | +27.1% |
| Cash at bank and in hand | 54/58 | €396 | €9,265 | +€8,869 | +2,241% |
| Deferred charges and accrued income | 490/1 | €0 | €184 | +€184 | |
| Total equity and liabilities | 10/49 | €12,925 | €20,828 | +€7,903 | +61.1% |
| Equity | 10/15 | -€80,944 | -€44,933 | +€36,011 | +44.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,944 | -€46,933 | +€36,011 | +43.4% |
| Amounts payable | 17/49 | €93,870 | €65,762 | -€28,108 | -29.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €93,485 | €65,377 | -€28,108 | -30.1% |
| Current portion of amounts payable after more than one year | 42 | €2,639 | - | -€2,639 | |
| Trade debts | 44 | €5,337 | €2,990 | -€2,347 | -44.0% |
| Suppliers | 440/4 | €5,337 | €2,990 | -€2,347 | -44.0% |
| Taxes, remuneration and social security | 45 | €9,142 | €8,737 | -€405 | -4.4% |
| Taxes | 450/3 | €9,142 | €8,737 | -€405 | -4.4% |
| Other amounts payable | 47/48 | €76,367 | €53,650 | -€22,718 | -29.7% |
| Accrued charges and deferred income | 492/3 | €384 | €384 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,459 | €3,037 | +€578 | +23.5% |
| Other operating charges | 640/8 | €560 | €579 | +€19 | +3.3% |
| Gross operating margin | 9900 | -€12,250 | €43,071 | +€55,321 | |
| Operating profit (loss) | 9901 | -€15,269 | €39,455 | +€54,725 | |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €2,379 | €3,069 | +€690 | +29.0% |
| Recurring financial charges | 65 | €2,379 | €3,069 | +€690 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | -€17,649 | €36,387 | +€54,035 | |
| Income taxes | 67/77 | €446 | €376 | -€71 | -15.8% |
| Profit (loss) for the period | 9904 | -€18,095 | €36,011 | +€54,106 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,095 | €36,011 | +€54,106 |
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 23 October 2026 via checked.be.