CAPHIGA: 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.
CAPHIGA
Largest movements
- Cash +€60,273
up €60,273 (+289.2%), from €20,841 to €81,113
mainly Net result for the year (+€29,695) and Depreciation (+€23,491)
- Tangible fixed assets -€18,575
down €18,575 (-45.0%), from €41,282 to €22,707
of which Plant, machinery and equipment: -€22,349
- Receivables within one year +€14,672
up €14,672 (+10.8%), from €136,020 to €150,692
of which Trade receivables: +€10,457
- Stocks and contracts -€13,940
down €13,940 (-7.1%), from €195,137 to €181,196
of which Stocks: -€11,646
- Deferred charges and accrued income -€10,030
down €10,030 (-48.8%), from €20,560 to €10,530
- Profit (loss) carried forward +€29,695
up €29,695 (+81.7%), from €36,356 to €66,051
- Debts after one year -€19,964
down €19,964 (-31.9%), from €62,525 to €42,561
- Tax, wage and social debts +€11,003
up €11,003 (+2993.7%), from €368 to €11,370
of which Taxes: +€11,015
- Trade debts +€10,837
up €10,837 (+9.8%), from €110,096 to €120,934
- Staff costs -€76,576
down €76,576 (-30.9%), from €247,422 to €170,846
- Gross operating margin -€25,301
down €25,301 (-9.2%), from €273,645 to €248,344
- Depreciation -€7,632
down €7,632 (-24.5%), from €31,123 to €23,491
- Taxes +€3,949
up €3,949 (+5982.9%), from €66 to €4,015
- Financial charges -€3,538
down €3,538 (-27.7%), from €12,772 to €9,234
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 | €423,532 | €455,933 | +€32,400 | +7.6% |
| Fixed assets | 21/28 | €50,975 | €32,401 | -€18,575 | -36.4% |
| Tangible fixed assets | 22/27 | €41,282 | €22,707 | -€18,575 | -45.0% |
| Plant, machinery and equipment | 23 | €27,146 | €4,797 | -€22,349 | -82.3% |
| Furniture and vehicles | 24 | €14,136 | €17,910 | +€3,774 | +26.7% |
| Financial fixed assets | 28 | €9,693 | €9,693 | = | 0.0% |
| Current assets | 29/58 | €372,557 | €423,532 | +€50,975 | +13.7% |
| Stocks and contracts in progress | 3 | €195,137 | €181,196 | -€13,940 | -7.1% |
| Stocks | 30/36 | €179,298 | €167,653 | -€11,646 | -6.5% |
| Contracts in progress | 37 | €15,838 | €13,544 | -€2,295 | -14.5% |
| Amounts receivable within one year | 40/41 | €136,020 | €150,692 | +€14,672 | +10.8% |
| Trade receivables | 40 | €126,549 | €137,007 | +€10,457 | +8.3% |
| Other amounts receivable | 41 | €9,471 | €13,686 | +€4,215 | +44.5% |
| Cash at bank and in hand | 54/58 | €20,841 | €81,113 | +€60,273 | +289.2% |
| Deferred charges and accrued income | 490/1 | €20,560 | €10,530 | -€10,030 | -48.8% |
| Total equity and liabilities | 10/49 | €423,532 | €455,933 | +€32,400 | +7.6% |
| Equity | 10/15 | €104,556 | €134,251 | +€29,695 | +28.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,356 | €66,051 | +€29,695 | +81.7% |
| Amounts payable | 17/49 | €318,977 | €321,682 | +€2,705 | +0.8% |
| Amounts payable after more than one year | 17 | €62,525 | €42,561 | -€19,964 | -31.9% |
| Financial debts | 170/4 | €62,525 | €42,561 | -€19,964 | -31.9% |
| Amounts payable within one year | 42/48 | €254,599 | €277,268 | +€22,669 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €19,135 | €19,964 | +€829 | +4.3% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €110,096 | €120,934 | +€10,837 | +9.8% |
| Suppliers | 440/4 | €110,096 | €120,934 | +€10,837 | +9.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €368 | €11,370 | +€11,003 | +2993.7% |
| Taxes | 450/3 | €355 | €11,370 | +€11,015 | +3104.3% |
| Remuneration and social security | 454/9 | €13 | €0 | -€13 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,853 | €1,853 | = | 0.0% |
| Non-recurring operating income | 76A | €1,522 | €4,588 | +€3,067 | +201.5% |
| Remuneration, social security and pensions | 62 | €247,422 | €170,846 | -€76,576 | -30.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,123 | €23,491 | -€7,632 | -24.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,317 | €3,266 | +€949 | +41.0% |
| Non-recurring operating charges | 66A | €8,425 | €10,701 | +€2,276 | +27.0% |
| Gross operating margin | 9900 | €273,645 | €248,344 | -€25,301 | -9.2% |
| Operating profit (loss) | 9901 | -€15,641 | €40,040 | +€55,681 | |
| Financial income | 75/76B | €2,437 | €2,904 | +€467 | +19.2% |
| Recurring financial income | 75 | €2,437 | €2,904 | +€467 | +19.2% |
| Financial charges | 65/66B | €12,772 | €9,234 | -€3,538 | -27.7% |
| Recurring financial charges | 65 | €12,772 | €9,234 | -€3,538 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | -€25,976 | €33,710 | +€59,686 | |
| Income taxes | 67/77 | €66 | €4,015 | +€3,949 | +5982.9% |
| Profit (loss) for the period | 9904 | -€26,042 | €29,695 | +€55,737 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,042 | €29,695 | +€55,737 |
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 10 October 2026 via checked.be.