CAPFONTAINE: 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.
CAPFONTAINE
Largest movements
- Tangible fixed assets -€191,613
down €191,613 (-10.8%), from €1.8m to €1.6m
of which Plant, machinery and equipment: -€133,550
- Cash -€177,146
down €177,146 (-36.9%), from €480,441 to €303,296
mainly Current portion of long-term debt (-€325,417) and Net result for the year (-€197,583)
- Stocks and contracts +€113,390
up €113,390 (+17.4%), from €653,311 to €766,701
- Receivables within one year -€113,050
down €113,050 (-18.7%), from €604,066 to €491,016
of which Trade receivables: -€115,677
- Current portion of long-term debt -€325,417
down €325,417 (-48.9%), from €666,132 to €340,714
- Profit (loss) carried forward -€197,583
down €197,583 (-161%), from -€122,584 to -€320,167
- Debts after one year +€151,551
up €151,551 (+11.8%), from €1.3m to €1.4m
of which Financial debts: +€151,551
- Gross operating margin -€339,419
down €339,419 (-21.4%), from €1.6m to €1.2m
- Staff costs -€271,988
down €271,988 (-22.2%), from €1.2m to €954,902
- Financial charges +€55,103
up €55,103 (+37.7%), from €146,213 to €201,316
of which Financial charges: +€47,365
- Financial income +€33,999
up €33,999 (+323%), from €10,517 to €44,516
- Other operating charges +€18,360
up €18,360 (+40.4%), from €45,422 to €63,782
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 | €3,767,850 | €3,372,003 | -€395,848 | -10.5% |
| Formation expenses | 20 | €52,964 | €40,429 | -€12,535 | -23.7% |
| Fixed assets | 21/28 | €1,961,678 | €1,748,994 | -€212,684 | -10.8% |
| Intangible fixed assets | 21 | €180,520 | €159,448 | -€21,071 | -11.7% |
| Tangible fixed assets | 22/27 | €1,780,558 | €1,588,946 | -€191,613 | -10.8% |
| Plant, machinery and equipment | 23 | €1,239,556 | €1,106,006 | -€133,550 | -10.8% |
| Furniture and vehicles | 24 | €38,337 | €35,507 | -€2,829 | -7.4% |
| Other tangible fixed assets | 26 | €502,666 | €447,433 | -€55,233 | -11.0% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €1,753,208 | €1,582,579 | -€170,629 | -9.7% |
| Stocks and contracts in progress | 3 | €653,311 | €766,701 | +€113,390 | +17.4% |
| Stocks | 30/36 | €653,311 | €766,701 | +€113,390 | +17.4% |
| Amounts receivable within one year | 40/41 | €604,066 | €491,016 | -€113,050 | -18.7% |
| Trade receivables | 40 | €552,745 | €437,067 | -€115,677 | -20.9% |
| Other amounts receivable | 41 | €51,321 | €53,949 | +€2,628 | +5.1% |
| Cash at bank and in hand | 54/58 | €480,441 | €303,296 | -€177,146 | -36.9% |
| Deferred charges and accrued income | 490/1 | €15,390 | €21,567 | +€6,177 | +40.1% |
| Total equity and liabilities | 10/49 | €3,767,850 | €3,372,003 | -€395,848 | -10.5% |
| Equity | 10/15 | -€22,584 | -€220,167 | -€197,583 | -875% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€122,584 | -€320,167 | -€197,583 | -161% |
| Amounts payable | 17/49 | €3,790,434 | €3,592,170 | -€198,265 | -5.2% |
| Amounts payable after more than one year | 17 | €1,286,519 | €1,438,070 | +€151,551 | +11.8% |
| Financial debts | 170/4 | €1,282,719 | €1,434,270 | +€151,551 | +11.8% |
| Other amounts payable | 178/9 | €3,800 | €3,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,494,365 | €2,122,369 | -€371,996 | -14.9% |
| Current portion of amounts payable after more than one year | 42 | €666,132 | €340,714 | -€325,417 | -48.9% |
| Trade debts | 44 | €1,466,803 | €1,455,664 | -€11,138 | -0.8% |
| Suppliers | 440/4 | €1,466,803 | €1,455,664 | -€11,138 | -0.8% |
| Taxes, remuneration and social security | 45 | €168,931 | €146,490 | -€22,441 | -13.3% |
| Taxes | 450/3 | €75 | €272 | +€197 | +262% |
| Remuneration and social security | 454/9 | €168,856 | €146,218 | -€22,638 | -13.4% |
| Other amounts payable | 47/48 | €192,500 | €179,500 | -€13,000 | -6.8% |
| Accrued charges and deferred income | 492/3 | €9,550 | €31,730 | +€22,180 | +232% |
| Non-recurring operating income | 76A | €475,120 | €138,277 | -€336,843 | -70.9% |
| Remuneration, social security and pensions | 62 | €1,226,889 | €954,902 | -€271,988 | -22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €259,373 | €270,293 | +€10,920 | +4.2% |
| Other operating charges | 640/8 | €45,422 | €63,782 | +€18,360 | +40.4% |
| Non-recurring operating charges | 66A | €771 | €1,482 | +€711 | +92.2% |
| Gross operating margin | 9900 | €1,589,366 | €1,249,948 | -€339,419 | -21.4% |
| Operating profit (loss) | 9901 | €56,911 | -€40,510 | -€97,422 | |
| Financial income | 75/76B | €10,517 | €44,516 | +€33,999 | +323% |
| Recurring financial income | 75 | €10,517 | €44,516 | +€33,999 | +323% |
| Financial charges | 65/66B | €146,213 | €201,316 | +€55,103 | +37.7% |
| Recurring financial charges | 65 | €130,886 | €178,251 | +€47,365 | +36.2% |
| Non-recurring financial charges | 66B | €15,327 | €23,066 | +€7,739 | +50.5% |
| Profit (loss) for the period before taxes | 9903 | -€78,785 | -€197,311 | -€118,526 | -150% |
| Income taxes | 67/77 | €75 | €272 | +€197 | +262% |
| Profit (loss) for the period | 9904 | -€78,860 | -€197,583 | -€118,723 | -151% |
| Profit (loss) for the period to be appropriated | 9905 | -€78,860 | -€197,583 | -€118,723 | -151% |
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 14 October 2026 via checked.be.