CAPINO: 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.
CAPINO
Largest movements
- Stocks and contracts -€299,014
down €299,014 (-92.4%), from €323,769 to €24,755
- Current investments +€88,485
up €88,485 (+242.3%), from €36,515 to €125,000
- Cash +€42,320
up €42,320 (+66.4%), from €63,714 to €106,034
mainly Stocks and contracts (+€299,014) and Investment in fixed assets (net) (+€35,358)
- Tangible fixed assets -€35,730
down €35,730 (-98.6%), from €36,251 to €521
of which Plant, machinery and equipment: -€20,449
- Profit (loss) carried forward -€178,766
down €178,766 (-45.2%), from €395,287 to €216,521
- Other debts -€25,923
down €25,923 (-93.3%), from €27,793 to €1,870
- Tax, wage and social debts +€4,798
up €4,798 (+90.6%), from €5,295 to €10,094
of which Taxes: +€4,928
- Gross operating margin -€133,021
down €133,021, from €61,514 to -€71,508
- Write-downs +€75,812
new in 2025: €75,812
- Taxes -€16,268
down €16,268, from €7,959 to -€8,309
- Depreciation -€1,779
down €1,779 (-77.8%), from €2,286 to €506
- Other operating charges +€1,015
up €1,015 (+57.4%), from €1,768 to €2,782
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.
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 | €462,036 | €261,456 | -€200,580 | -43.4% |
| Fixed assets | 21/28 | €36,386 | €521 | -€35,865 | -98.6% |
| Tangible fixed assets | 22/27 | €36,251 | €521 | -€35,730 | -98.6% |
| Land and buildings | 22 | €4,997 | €0 | -€4,997 | -100.0% |
| Plant, machinery and equipment | 23 | €20,970 | €521 | -€20,449 | -97.5% |
| Furniture and vehicles | 24 | €10,283 | €0 | -€10,283 | -100.0% |
| Financial fixed assets | 28 | €135 | €0 | -€135 | -100.0% |
| Current assets | 29/58 | €425,651 | €260,935 | -€164,715 | -38.7% |
| Stocks and contracts in progress | 3 | €323,769 | €24,755 | -€299,014 | -92.4% |
| Stocks | 30/36 | €323,769 | €24,755 | -€299,014 | -92.4% |
| Amounts receivable within one year | 40/41 | €1,653 | €5,147 | +€3,494 | +211.3% |
| Trade receivables | 40 | - | €147 | +€147 | |
| Other amounts receivable | 41 | €1,653 | €5,000 | +€3,347 | +202.4% |
| Current investments | 50/53 | €36,515 | €125,000 | +€88,485 | +242.3% |
| Cash at bank and in hand | 54/58 | €63,714 | €106,034 | +€42,320 | +66.4% |
| Total equity and liabilities | 10/49 | €462,036 | €261,456 | -€200,580 | -43.4% |
| Equity | 10/15 | €415,738 | €236,972 | -€178,766 | -43.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | - | -€18,592 | |
| Issued capital | 100 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Other | 1319 | - | €1,859 | +€1,859 | |
| Profit (loss) carried forward | 14 | €395,287 | €216,521 | -€178,766 | -45.2% |
| Amounts payable | 17/49 | €46,299 | €24,484 | -€21,814 | -47.1% |
| Amounts payable within one year | 42/48 | €46,299 | €24,484 | -€21,814 | -47.1% |
| Trade debts | 44 | €13,210 | €12,521 | -€689 | -5.2% |
| Suppliers | 440/4 | €13,210 | €12,521 | -€689 | -5.2% |
| Taxes, remuneration and social security | 45 | €5,295 | €10,094 | +€4,798 | +90.6% |
| Taxes | 450/3 | €5,166 | €10,094 | +€4,928 | +95.4% |
| Remuneration and social security | 454/9 | €129 | €0 | -€129 | -100.0% |
| Other amounts payable | 47/48 | €27,793 | €1,870 | -€25,923 | -93.3% |
| Non-recurring operating income | 76A | €2,286 | €6,353 | +€4,067 | +177.9% |
| Remuneration, social security and pensions | 62 | €761 | €0 | -€761 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,286 | €506 | -€1,779 | -77.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €75,812 | +€75,812 | |
| Other operating charges | 640/8 | €1,768 | €2,782 | +€1,015 | +57.4% |
| Non-recurring operating charges | 66A | €214 | €33,296 | +€33,081 | +15425.4% |
| Gross operating margin | 9900 | €61,514 | -€71,508 | -€133,021 | |
| Operating profit (loss) | 9901 | €56,485 | -€183,904 | -€240,389 | |
| Financial income | 75/76B | - | €19 | +€19 | |
| Recurring financial income | 75 | - | €19 | +€19 | |
| Financial charges | 65/66B | €2,911 | €3,189 | +€278 | +9.6% |
| Recurring financial charges | 65 | €2,911 | €3,189 | +€278 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €53,574 | -€187,075 | -€240,648 | |
| Income taxes | 67/77 | €7,959 | -€8,309 | -€16,268 | |
| Profit (loss) for the period | 9904 | €45,615 | -€178,766 | -€224,381 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,615 | -€178,766 | -€224,381 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.