Capital C Projects: 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.
Capital C Projects
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves +€56,726
up €56,726 (+9.3%), from €609,268 to €665,994
- Debts after one year -€50,000
down €50,000 (-25.0%), from €200,000 to €150,000
- Short-term financial debts -€25,373
no longer reported in 2025 (was €25,373)
- Tax, wage and social debts +€15,138
up €15,138 (+82.9%), from €18,255 to €33,393
of which Taxes: +€20,605
- Financial income -€67,576
no longer reported in 2025 (was €67,576)
of which Financial income: -€65,497
- Taxes -€23,233
down €23,233 (-52.4%), from €44,329 to €21,096
- Other operating charges -€10,010
down €10,010 (-79.7%), from €12,564 to €2,554
- Gross operating margin +€4,865
up €4,865 (+6.2%), from €78,589 to €83,454
- Financial charges -€2,231
down €2,231 (-42.0%), from €5,309 to €3,078
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.
Derived cash bridge
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 | €893,218 | €889,093 | -€4,125 | -0.5% |
| Fixed assets | 21/28 | €176,367 | €176,367 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €176,367 | €176,367 | = | 0.0% |
| Current assets | 29/58 | €716,851 | €712,726 | -€4,125 | -0.6% |
| Amounts receivable after more than one year | 29 | €699,279 | €699,279 | = | 0.0% |
| Other amounts receivable | 291 | €699,279 | €699,279 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €12,221 | €9,280 | -€2,941 | -24.1% |
| Trade receivables | 40 | €9,783 | €9,279 | -€503 | -5.1% |
| Other amounts receivable | 41 | €2,439 | €1 | -€2,437 | -100.0% |
| Cash at bank and in hand | 54/58 | €5,351 | €3,150 | -€2,201 | -41.1% |
| Deferred charges and accrued income | 490/1 | - | €1,016 | +€1,016 | |
| Total equity and liabilities | 10/49 | €893,218 | €889,093 | -€4,125 | -0.5% |
| Equity | 10/15 | €619,268 | €675,994 | +€56,726 | +9.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €609,268 | €665,994 | +€56,726 | +9.3% |
| Distributable reserves | 133 | €609,268 | €665,994 | +€56,726 | +9.3% |
| Amounts payable | 17/49 | €273,950 | €213,099 | -€60,851 | -22.2% |
| Amounts payable after more than one year | 17 | €200,000 | €150,000 | -€50,000 | -25.0% |
| Other amounts payable | 178/9 | €200,000 | €150,000 | -€50,000 | -25.0% |
| Amounts payable within one year | 42/48 | €73,950 | €63,099 | -€10,851 | -14.7% |
| Financial debts | 43 | €25,373 | - | -€25,373 | |
| Other loans | 439 | €25,373 | - | -€25,373 | |
| Trade debts | 44 | €6,103 | €10,277 | +€4,174 | +68.4% |
| Suppliers | 440/4 | €6,103 | €10,277 | +€4,174 | +68.4% |
| Taxes, remuneration and social security | 45 | €18,255 | €33,393 | +€15,138 | +82.9% |
| Taxes | 450/3 | €12,788 | €33,393 | +€20,605 | +161% |
| Remuneration and social security | 454/9 | €5,467 | - | -€5,467 | |
| Other amounts payable | 47/48 | €24,219 | €19,429 | -€4,790 | -19.8% |
| Non-recurring operating income | 76A | €9,718 | - | -€9,718 | |
| Other operating charges | 640/8 | €12,564 | €2,554 | -€10,010 | -79.7% |
| Gross operating margin | 9900 | €78,589 | €83,454 | +€4,865 | +6.2% |
| Operating profit (loss) | 9901 | €66,026 | €80,901 | +€14,875 | +22.5% |
| Financial income | 75/76B | €67,576 | - | -€67,576 | |
| Recurring financial income | 75 | €65,497 | - | -€65,497 | |
| Non-recurring financial income | 76B | €2,079 | - | -€2,079 | |
| Financial charges | 65/66B | €5,309 | €3,078 | -€2,231 | -42.0% |
| Recurring financial charges | 65 | €5,309 | €3,078 | -€2,231 | -42.0% |
| Profit (loss) for the period before taxes | 9903 | €128,292 | €77,823 | -€50,469 | -39.3% |
| Transfer from deferred taxes | 780 | €2,523 | - | -€2,523 | |
| Income taxes | 67/77 | €44,329 | €21,096 | -€23,233 | -52.4% |
| Profit (loss) for the period | 9904 | €86,485 | €56,726 | -€29,759 | -34.4% |
| Transfer from tax-exempt reserves | 789 | €7,268 | - | -€7,268 | |
| Profit (loss) for the period to be appropriated | 9905 | €93,753 | €56,726 | -€37,027 | -39.5% |
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 16 October 2026 via checked.be.