CAPITAL FOR GROWTH: what changed
What changed
CAPITAL FOR GROWTH
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€9,179
2024 · €33,823-€43,002
Equity
€248,780
2024 · €257,959-€9,179
Cash
€480
2024 · €130+€349
Balance sheet total
€253,708
2024 · €279,742-€26,033
Largest movements
Assets
- Receivables within one year -€24,337
down €24,337 (-9.5%), from €255,074 to €230,736
of which Trade receivables: -€34,001
Equity and liabilities
- Tax, wage and social debts -€15,743
down €15,743 (-79.6%), from €19,780 to €4,037
- Reserves -€9,179
down €9,179 (-3.6%), from €254,959 to €245,780
Income statement
- Gross operating margin -€62,877
down €62,877, from €46,278 to -€16,599
- Taxes -€13,564
down €13,564 (-98.1%), from €13,826 to €262
- Depreciation -€5,141
down €5,141 (-90.7%), from €5,670 to €529
- Financial income +€1,566
up €1,566 (+19.7%), from €7,939 to €9,506
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
€33,823
Gross operating margin
-€62,877
Depreciation
+€5,141
Other operating charges
-€391
Financial income
+€1,566
Financial charges
-€6
Taxes
+€13,564
Result 2025
-€9,179
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
-€1,236
Investment
+€1,586
Financing
€0
Cash 2024
€130
From operations (derived)
-€1,236
Net result for the year
-€9,179
Depreciation
+€529
Receivables within one year
+€24,337
Deferred charges and accrued income
-€69
Trade debts
-€738
Tax, wage and social debts
-€15,743
Other debts
-€859
Accrued charges and deferred income
+€486
Investment (derived)
+€1,586
Investment in fixed assets (net)
+€1,586
Cash 2025
€480
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €279,742 | €253,708 | -€26,033 | -9.3% |
| Fixed assets | 21/28 | €24,163 | €22,049 | -€2,114 | -8.7% |
| Tangible fixed assets | 22/27 | €2,114 | - | -€2,114 | |
| Furniture and vehicles | 24 | €2,114 | - | -€2,114 | |
| Financial fixed assets | 28 | €22,049 | €22,049 | = | 0.0% |
| Current assets | 29/58 | €255,579 | €231,659 | -€23,919 | -9.4% |
| Amounts receivable within one year | 40/41 | €255,074 | €230,736 | -€24,337 | -9.5% |
| Trade receivables | 40 | €109,775 | €75,774 | -€34,001 | -31.0% |
| Other amounts receivable | 41 | €145,299 | €154,962 | +€9,664 | +6.7% |
| Cash at bank and in hand | 54/58 | €130 | €480 | +€349 | +268% |
| Deferred charges and accrued income | 490/1 | €375 | €443 | +€69 | +18.3% |
| Total equity and liabilities | 10/49 | €279,742 | €253,708 | -€26,033 | -9.3% |
| Equity | 10/15 | €257,959 | €248,780 | -€9,179 | -3.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €254,959 | €245,780 | -€9,179 | -3.6% |
| Distributable reserves | 133 | €254,959 | €245,780 | -€9,179 | -3.6% |
| Amounts payable | 17/49 | €21,782 | €4,928 | -€16,854 | -77.4% |
| Amounts payable within one year | 42/48 | €21,688 | €4,348 | -€17,340 | -80.0% |
| Trade debts | 44 | €1,049 | €310 | -€738 | -70.4% |
| Suppliers | 440/4 | €1,049 | €310 | -€738 | -70.4% |
| Taxes, remuneration and social security | 45 | €19,780 | €4,037 | -€15,743 | -79.6% |
| Taxes | 450/3 | €19,780 | €4,037 | -€15,743 | -79.6% |
| Other amounts payable | 47/48 | €859 | - | -€859 | |
| Accrued charges and deferred income | 492/3 | €95 | €581 | +€486 | +514% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,670 | €529 | -€5,141 | -90.7% |
| Other operating charges | 640/8 | €708 | €1,099 | +€391 | +55.2% |
| Gross operating margin | 9900 | €46,278 | -€16,599 | -€62,877 | |
| Operating profit (loss) | 9901 | €39,900 | -€18,226 | -€58,126 | |
| Financial income | 75/76B | €7,939 | €9,506 | +€1,566 | +19.7% |
| Recurring financial income | 75 | €7,939 | €9,506 | +€1,566 | +19.7% |
| Financial charges | 65/66B | €191 | €197 | +€6 | +3.4% |
| Recurring financial charges | 65 | €191 | €197 | +€6 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €47,649 | -€8,917 | -€56,566 | |
| Income taxes | 67/77 | €13,826 | €262 | -€13,564 | -98.1% |
| Profit (loss) for the period | 9904 | €33,823 | -€9,179 | -€43,002 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,823 | -€9,179 | -€43,002 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.