CAPICARD: 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.
CAPICARD
Largest movements
- Tangible fixed assets -€16,639
down €16,639 (-21.3%), from €78,193 to €61,554
of which Plant, machinery and equipment: -€14,107
- Receivables within one year -€8,896
down €8,896 (-4.7%), from €191,022 to €182,126
- Cash +€4,669
up €4,669 (+26.1%), from €17,889 to €22,558
mainly Net result for the year (+€174,527) and Depreciation (+€17,436)
- Deferred charges and accrued income -€4,466
down €4,466 (-20.1%), from €22,262 to €17,796
- Profit (loss) carried forward +€174,527
new in 2025: €174,527
- Other debts -€138,530
no longer reported in 2025 (was €138,530)
- Tax, wage and social debts -€47,547
down €47,547 (-71.9%), from €66,099 to €18,553
of which Taxes: -€38,957
- Debts after one year -€8,222
no longer reported in 2025 (was €8,222)
- Current portion of long-term debt -€7,904
down €7,904 (-19.9%), from €39,689 to €31,785
- Gross operating margin +€25,631
up €25,631 (+9.0%), from €285,978 to €311,609
- Financial charges +€5,755
up €5,755 (+141.7%), from €4,063 to €9,818
- Financial income -€5,159
down €5,159 (-29.5%), from €17,486 to €12,327
- Staff costs +€4,454
up €4,454 (+7.1%), from €62,347 to €66,801
- Taxes +€3,267
up €3,267 (+6.5%), from €50,439 to €53,706
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 | €359,245 | €331,034 | -€28,211 | -7.9% |
| Fixed assets | 21/28 | €78,193 | €61,554 | -€16,639 | -21.3% |
| Tangible fixed assets | 22/27 | €78,193 | €61,554 | -€16,639 | -21.3% |
| Plant, machinery and equipment | 23 | €58,103 | €43,996 | -€14,107 | -24.3% |
| Furniture and vehicles | 24 | €130 | - | -€130 | |
| Other tangible fixed assets | 26 | €19,960 | €17,558 | -€2,402 | -12.0% |
| Current assets | 29/58 | €281,052 | €269,480 | -€11,572 | -4.1% |
| Amounts receivable after more than one year | 29 | €47,000 | €47,000 | = | 0.0% |
| Other amounts receivable | 291 | €47,000 | €47,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €191,022 | €182,126 | -€8,896 | -4.7% |
| Other amounts receivable | 41 | €191,022 | €182,126 | -€8,896 | -4.7% |
| Current investments | 50/53 | €2,879 | - | -€2,879 | |
| Cash at bank and in hand | 54/58 | €17,889 | €22,558 | +€4,669 | +26.1% |
| Deferred charges and accrued income | 490/1 | €22,262 | €17,796 | -€4,466 | -20.1% |
| Total equity and liabilities | 10/49 | €359,245 | €331,034 | -€28,211 | -7.9% |
| Equity | 10/15 | €102,300 | €276,827 | +€174,527 | +170.6% |
| Contributions | 10/11 | €93,000 | €93,000 | = | 0.0% |
| Reserves | 13 | €9,300 | €9,300 | = | 0.0% |
| Distributable reserves | 133 | €9,300 | €9,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €174,527 | +€174,527 | |
| Amounts payable | 17/49 | €256,945 | €54,207 | -€202,738 | -78.9% |
| Amounts payable after more than one year | 17 | €8,222 | - | -€8,222 | |
| Financial debts | 170/4 | €8,222 | - | -€8,222 | |
| Amounts payable within one year | 42/48 | €248,723 | €54,207 | -€194,516 | -78.2% |
| Current portion of amounts payable after more than one year | 42 | €39,689 | €31,785 | -€7,904 | -19.9% |
| Trade debts | 44 | €4,405 | €3,869 | -€536 | -12.2% |
| Suppliers | 440/4 | €4,405 | €3,869 | -€536 | -12.2% |
| Taxes, remuneration and social security | 45 | €66,099 | €18,553 | -€47,547 | -71.9% |
| Taxes | 450/3 | €48,848 | €9,892 | -€38,957 | -79.8% |
| Remuneration and social security | 454/9 | €17,251 | €8,661 | -€8,590 | -49.8% |
| Other amounts payable | 47/48 | €138,530 | - | -€138,530 | |
| Remuneration, social security and pensions | 62 | €62,347 | €66,801 | +€4,454 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,243 | €17,436 | +€1,193 | +7.3% |
| Other operating charges | 640/8 | €1,432 | €1,649 | +€216 | +15.1% |
| Gross operating margin | 9900 | €285,978 | €311,609 | +€25,631 | +9.0% |
| Operating profit (loss) | 9901 | €205,956 | €225,724 | +€19,768 | +9.6% |
| Financial income | 75/76B | €17,486 | €12,327 | -€5,159 | -29.5% |
| Recurring financial income | 75 | €17,486 | €12,327 | -€5,159 | -29.5% |
| Financial charges | 65/66B | €4,063 | €9,818 | +€5,755 | +141.7% |
| Recurring financial charges | 65 | €4,063 | €9,818 | +€5,755 | +141.7% |
| Profit (loss) for the period before taxes | 9903 | €219,379 | €228,233 | +€8,854 | +4.0% |
| Income taxes | 67/77 | €50,439 | €53,706 | +€3,267 | +6.5% |
| Profit (loss) for the period | 9904 | €168,939 | €174,527 | +€5,588 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €168,939 | €174,527 | +€5,588 | +3.3% |
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 3 October 2026 via checked.be.