CAPIRCHIO: 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.
What changed
CAPIRCHIO
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€64,484
2024 · €46,248+€18,236
Equity
€371,057
2024 · €332,022+€39,034
Cash
€157,519
2024 · €109,026+€48,494
Balance sheet total
€504,349
2024 · €453,875+€50,473
Largest movements
Assets
- Cash +€48,494
up €48,494 (+44.5%), from €109,026 to €157,519
mainly Net result for the year (+€64,484) and Other debts (+€25,450)
Equity and liabilities
- Reserves +€39,030
up €39,030 (+12.5%), from €311,285 to €350,315
- Other debts +€25,450
new in 2025: €25,450
- Debts after one year -€12,349
down €12,349 (-13.0%), from €95,297 to €82,948
Income statement
- Gross operating margin +€25,693
up €25,693 (+30.7%), from €83,822 to €109,515
- Turnover +€25,152
up €25,152 (+8.2%), from €306,982 to €332,134
- Taxes +€6,790
up €6,790 (+37.6%), from €18,081 to €24,871
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.
Result 2024
€46,248
Gross operating margin
+€25,693
Depreciation
-€951
Other operating charges
+€341
Financial income
-€100
Financial charges
+€44
Taxes
-€6,790
Result 2025
€64,484
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.
From operations
+€97,600
Investment
-€11,458
Financing
-€37,649
Cash 2024
€109,026
From operations (derived)
+€97,600
Net result for the year
+€64,484
Depreciation
+€14,509
Receivables within one year
-€4,126
Deferred charges and accrued income
-€906
Trade debts
+€547
Tax, wage and social debts
-€2,359
Other debts
+€25,450
Investment (derived)
-€11,458
Investment in fixed assets (net)
-€11,458
Financing
-€37,649
Debts after one year
-€12,349
Current portion of long-term debt
+€151
Contributions, distributions and other
-€25,450
Cash 2025
€157,519
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €453,875 | €504,349 | +€50,473 | +11.1% |
| Fixed assets | 21/28 | €235,679 | €232,628 | -€3,051 | -1.3% |
| Tangible fixed assets | 22/27 | €235,679 | €232,628 | -€3,051 | -1.3% |
| Land and buildings | 22 | €226,425 | €223,979 | -€2,447 | -1.1% |
| Plant, machinery and equipment | 23 | €1,640 | €1,118 | -€522 | -31.8% |
| Furniture and vehicles | 24 | €7,614 | €7,531 | -€83 | -1.1% |
| Current assets | 29/58 | €218,196 | €271,721 | +€53,525 | +24.5% |
| Amounts receivable within one year | 40/41 | €38,891 | €43,017 | +€4,126 | +10.6% |
| Trade receivables | 40 | €29,840 | €29,681 | -€158 | -0.5% |
| Other amounts receivable | 41 | €9,052 | €13,336 | +€4,284 | +47.3% |
| Current investments | 50/53 | €69,000 | €69,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €109,026 | €157,519 | +€48,494 | +44.5% |
| Deferred charges and accrued income | 490/1 | €1,279 | €2,184 | +€906 | +70.8% |
| Total equity and liabilities | 10/49 | €453,875 | €504,349 | +€50,473 | +11.1% |
| Equity | 10/15 | €332,022 | €371,057 | +€39,034 | +11.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Capital | 10 | €20,460 | €20,460 | = | 0.0% |
| Issued capital | 100 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €311,285 | €350,315 | +€39,030 | +12.5% |
| Distributable reserves | 133 | €311,285 | €350,315 | +€39,030 | +12.5% |
| Profit (loss) carried forward | 14 | €277 | €282 | +€4 | +1.5% |
| Amounts payable | 17/49 | €121,853 | €133,292 | +€11,439 | +9.4% |
| Amounts payable after more than one year | 17 | €95,297 | €82,948 | -€12,349 | -13.0% |
| Financial debts | 170/4 | €95,297 | €82,948 | -€12,349 | -13.0% |
| Amounts payable within one year | 42/48 | €26,556 | €50,344 | +€23,789 | +89.6% |
| Current portion of amounts payable after more than one year | 42 | €12,199 | €12,349 | +€151 | +1.2% |
| Trade debts | 44 | €663 | €1,210 | +€547 | +82.5% |
| Suppliers | 440/4 | €663 | €1,210 | +€547 | +82.5% |
| Taxes, remuneration and social security | 45 | €13,694 | €11,335 | -€2,359 | -17.2% |
| Taxes | 450/3 | €13,694 | €11,335 | -€2,359 | -17.2% |
| Other amounts payable | 47/48 | - | €25,450 | +€25,450 | |
| Turnover | 70 | €306,982 | €332,134 | +€25,152 | +8.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €223,160 | €222,620 | -€541 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,559 | €14,509 | +€951 | +7.0% |
| Other operating charges | 640/8 | €4,121 | €3,780 | -€341 | -8.3% |
| Gross operating margin | 9900 | €83,822 | €109,515 | +€25,693 | +30.7% |
| Operating profit (loss) | 9901 | €66,142 | €91,225 | +€25,083 | +37.9% |
| Financial income | 75/76B | €432 | €332 | -€100 | -23.2% |
| Recurring financial income | 75 | €432 | €332 | -€100 | -23.2% |
| Financial charges | 65/66B | €2,246 | €2,202 | -€44 | -2.0% |
| Recurring financial charges | 65 | €2,246 | €2,202 | -€44 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €64,329 | €89,355 | +€25,026 | +38.9% |
| Income taxes | 67/77 | €18,081 | €24,871 | +€6,790 | +37.6% |
| Profit (loss) for the period | 9904 | €46,248 | €64,484 | +€18,236 | +39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,248 | €64,484 | +€18,236 | +39.4% |
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 7 October 2026 via checked.be.