Capital 9: what changed
What changed
Capital 9
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
-€256,106
2024 · -€2,346-€253,760
Equity
€66,520
2024 · €322,626-€256,106
Cash
€54,592
2024 · €7,805+€46,787
Balance sheet total
€1.2m
2024 · €361,619+€813,839
Largest movements
Assets
- Tangible fixed assets +€473,977
up €473,977 (+35,799%), from €1,324 to €475,301
of which Other tangible fixed assets: +€340,963
- Receivables within one year +€165,740
up €165,740 (+47.0%), from €352,491 to €518,230
of which Trade receivables: +€182,240
- Financial fixed assets +€60,652
new in 2025: €60,652
- Intangible fixed assets +€49,428
new in 2025: €49,428
- Cash +€46,787
up €46,787 (+599%), from €7,805 to €54,592
mainly Debts after one year (+€408,077) and Trade debts (+€382,687)
Equity and liabilities
- Debts after one year +€408,077
up €408,077 (+1,430%), from €28,541 to €436,618
- Trade debts +€382,687
up €382,687 (+68,407%), from €559 to €383,246
- Profit (loss) carried forward -€256,106
down €256,106 (-327%), from -€78,374 to -€334,480
- Other debts +€204,878
up €204,878 (+65,953%), from €311 to €205,188
- Current portion of long-term debt +€47,472
up €47,472 (+505%), from €9,407 to €56,879
Income statement
- Purchases and services +€255,738
new in 2025: €255,738
- Turnover +€205,214
new in 2025: €205,214
- Staff costs +€167,746
new in 2025: €167,746
- Gross operating margin -€46,983
down €46,983 (-5,656%), from -€831 to -€47,814
- Depreciation +€34,849
up €34,849 (+5,264%), from €662 to €35,511
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€2,346
Gross operating margin
-€46,983
Staff costs
-€167,746
Depreciation
-€34,849
Other operating charges
-€1,212
Financial income
+€6,010
Financial charges
-€8,849
Taxes
-€132
Result 2025
-€256,106
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€210,806
Investment
-€619,568
Financing
+€455,549
Cash 2024
€7,805
From operations (derived)
+€210,806
Net result for the year
-€256,106
Depreciation
+€35,511
Stocks and contracts
-€13,871
Receivables within one year
-€165,740
Deferred charges and accrued income
-€3,383
Trade debts
+€382,687
Tax, wage and social debts
+€26,831
Other debts
+€204,878
Investment (derived)
-€619,568
Investment in fixed assets (net)
-€619,568
Financing
+€455,549
Debts after one year
+€408,077
Current portion of long-term debt
+€47,472
Cash 2025
€54,592
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €361,619 | €1,175,458 | +€813,839 | +225% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,324 | €585,381 | +€584,057 | +44,113% |
| Intangible fixed assets | 21 | - | €49,428 | +€49,428 | |
| Tangible fixed assets | 22/27 | €1,324 | €475,301 | +€473,977 | +35,799% |
| Plant, machinery and equipment | 23 | €1,324 | €662 | -€662 | -50.0% |
| Furniture and vehicles | 24 | €0 | €64,728 | +€64,728 | |
| Leasing and similar rights | 25 | - | €68,948 | +€68,948 | |
| Other tangible fixed assets | 26 | - | €340,963 | +€340,963 | |
| Financial fixed assets | 28 | - | €60,652 | +€60,652 | |
| Current assets | 29/58 | €360,295 | €590,077 | +€229,781 | +63.8% |
| Stocks and contracts in progress | 3 | - | €13,871 | +€13,871 | |
| Stocks | 30/36 | - | €13,871 | +€13,871 | |
| Amounts receivable within one year | 40/41 | €352,491 | €518,230 | +€165,740 | +47.0% |
| Trade receivables | 40 | - | €182,240 | +€182,240 | |
| Other amounts receivable | 41 | €352,491 | €335,991 | -€16,500 | -4.7% |
| Cash at bank and in hand | 54/58 | €7,805 | €54,592 | +€46,787 | +599% |
| Deferred charges and accrued income | 490/1 | €0 | €3,383 | +€3,383 | |
| Total equity and liabilities | 10/49 | €361,619 | €1,175,458 | +€813,839 | +225% |
| Equity | 10/15 | €322,626 | €66,520 | -€256,106 | -79.4% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €1,000 | €1,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | - | -€1,000 | |
| Reserves not available under the articles | 1311 | €1,000 | - | -€1,000 | |
| Distributable reserves | 133 | - | €1,000 | +€1,000 | |
| Profit (loss) carried forward | 14 | -€78,374 | -€334,480 | -€256,106 | -327% |
| Amounts payable | 17/49 | €38,993 | €1,108,938 | +€1.1m | +2,744% |
| Amounts payable after more than one year | 17 | €28,541 | €436,618 | +€408,077 | +1,430% |
| Financial debts | 170/4 | €28,541 | €436,618 | +€408,077 | +1,430% |
| Amounts payable within one year | 42/48 | €10,452 | €672,320 | +€661,868 | +6,332% |
| Current portion of amounts payable after more than one year | 42 | €9,407 | €56,879 | +€47,472 | +505% |
| Trade debts | 44 | €559 | €383,246 | +€382,687 | +68,407% |
| Suppliers | 440/4 | €559 | €383,246 | +€382,687 | +68,407% |
| Taxes, remuneration and social security | 45 | €175 | €27,007 | +€26,831 | +15,307% |
| Taxes | 450/3 | €175 | €1,055 | +€879 | +502% |
| Remuneration and social security | 454/9 | - | €25,952 | +€25,952 | |
| Other amounts payable | 47/48 | €311 | €205,188 | +€204,878 | +65,953% |
| Accrued charges and deferred income | 492/3 | - | €0 | = | |
| Turnover | 70 | - | €205,214 | +€205,214 | |
| Non-recurring operating income | 76A | - | €433 | +€433 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €255,738 | +€255,738 | |
| Remuneration, social security and pensions | 62 | - | €167,746 | +€167,746 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €662 | €35,511 | +€34,849 | +5,264% |
| Other operating charges | 640/8 | €643 | €1,854 | +€1,212 | +189% |
| Gross operating margin | 9900 | -€831 | -€47,814 | -€46,983 | -5,656% |
| Operating profit (loss) | 9901 | -€2,135 | -€252,925 | -€250,790 | -11,745% |
| Financial income | 75/76B | €75 | €6,085 | +€6,010 | +8,024% |
| Recurring financial income | 75 | €75 | €6,085 | +€6,010 | +8,024% |
| Financial charges | 65/66B | €286 | €9,135 | +€8,849 | +3,095% |
| Recurring financial charges | 65 | €286 | €9,135 | +€8,849 | +3,095% |
| Profit (loss) for the period before taxes | 9903 | -€2,346 | -€255,975 | -€253,629 | -10,810% |
| Income taxes | 67/77 | €0 | €132 | +€132 | |
| Profit (loss) for the period | 9904 | -€2,346 | -€256,106 | -€253,760 | -10,816% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,346 | -€256,106 | -€253,760 | -10,816% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.